Drop Stop, a device for preventing objects from falling in between car gaps, was started by Marc Newburger and Jeffrey Simon in 2009. As of October 2023, Drop Stop net worth is $5 million. And they’re pulling in a whopping $24 million in annual revenue.
In March 2013, they appeared on season 4 of Shark Tank USA. And made a deal with Lori Greiner, for $300,000 for 20% of equity. The final valuation was $1.5 million, down from the founder’s initial estimate of $2 million.
Drop Stop is still in business as of October 30, 2023. Their website is still active, and they continue to sell their Drop Stop device on website and Amazon. Drop Stop is a popular product. It prevents items from falling down the gap between the car seat and the center console.
Drop Stop Net Worth
|Net worth||$5 million (2023)|
|Annual Sales Revenue||$24 million (2023)|
|Profits||Not publicly available|
|Lifetime sales||Not publicly available|
|Founder||Marc Newburger and Jeffrey Simon|
|Employees||Not publicly available|
Drop Stop Net Worth Timeline
|Net Worth 2023||$5 million|
|Net Worth 2022||$4.8 million|
|Net worth valuation 2013 after appearing on Shark Tank||$1.5 million|
|Net worth valuation 2013 before appearing on Shark Tank||$2 million|
Drop Stop Pitch on Shark Tank
|Company name||Drop Stop|
|Product||Device for preventing objects from falling in between car gaps|
|Episode||Season 04 Episode 21|
|Founders||Marc Newburger and Jeffrey Simon|
|Asked for||$300,000 for 15% Equity|
|Final deal||$300,000 for 20% Equity|
|Location||Los Angeles, California|
Don’t miss these product from Season 04
Drop Stop Founders
Drop Stop was founded by Marc Newburger and Jeffrey Simon in 2009. Marc Newburger is a serial entrepreneur with over 25 years of experience in the consumer goods industry. Jeffrey Simon is a marketing and branding expert with over 20 years of experience. Drop Stop’s founders, Marc Newburger and Jeffrey Simon, have a net worth of $4 million as of 2023.
|2013||Appeared on Shark Tank season 04 and Lori Greiner invested $300,000 for 20% Equity|
|2014||Expanded distribution to over 10,000 retail locations|
|2017||Partnered with major automakers to offer Drop Stop as a factory-installed option|
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Drop Stop and its continued success.