“Voyage Air Guitar” got featured on Shark Tank USA in 2019 August. It was founded by Jeff and Josh Cohen.
Voyage Air Guitar’s net in 2022
Here is an update on “Voyage Air Guitar’s net worth so far.
|Voyage Air Guitar’s Net worth before appearing on Shark Tank||1 Million USD(implied valuation)|
|Voyage Air Guitar’s Net worth [year between appearing and now]||500 000 USD|
|Voyage Air Guitar’s Current Net worth (2022)||1 Million USD|
Voyage Air Guitar’s founders Jeff and Josh Cohen have a net worth of 1 million USD as of 2022.
The guitar is a magical musical instrument that has the power to connect to your soul. It doesn’t matter whether you are a professional guitar player or not, the instrument will serve you well. Voyage Air Guitar is a special model among them. If you are curious about finding out more, then this is your chance.
What is Voyage Air Guitar?
Voyage Air Guitar is the most innovative air guitar on the market. It looks good, produces clear musical notes and you can fold it in half. Yes, you have heard right. The guitar can be folded in half. With this unique feature, you’ll never have to travel without your guitar. The product comes with state of an art backpack and it only consumes a small space.
Voyage Air Guitar combines music with industrial improvements. It is a stylish, handy, and unique way to blend your life with vibes full of tunes.
Who is the founder of Voyage Air Guitar?
Jeff Cohen is the CEO of Voyage Air Guitar. Jeff and his son Josh, have launched the most unique musical product to the market. Both of them are music lovers and Jeff has the idea of creating high-quality guitars of portable nature. Jeff realizes his dream with the assistance of his son and both have worked hard at the phase of starting up.
Voyage Air Guitar has plugged into many corporate partnerships with distributors and other manufacturers in the industry such as Fender. When they appeared on the Shark Tank, their total sales were summed up to $400 grand which they gained by selling 800 units.
What happened at the Shark Tank
Jeff Cohen and his son Josh came into the shark tank offering a 5% equity share of Voyage Air Guitar for $500,000 to finance their business.
After the initial demonstration, Kevin was curious about the tuning of the instrument after it has folded in half. However, after giving it a try, Kevins said ‘Okay I’ll admit this thing stayed tuned, I’ll buy it.’
Robert was curious about the patent for the neck hinge tech of the instrument and after Jeff says ‘Yes’ Robert asks about the sales of the company.
According to Jeff, they have sold every unit they had and they need capital to boost their stock. Daymond asked about the revenue from the 800 units and after Jeff says their cash flow is negative, sharks seems to be shocked.
After that Robert asks why not take the opportunity of marking the royalty and take premium. Jeff says to do that he needs to show the marketability of this product to the royalty buyers.
Then Robert asks for a deal on the royalty and Jeff offers 49% of the patent for $1 million.
When Kevin made a counteroffer of 51% of the patent for $500,000 Jeff criticized what the special about Kevin, and ‘My whole company that sold for $3.2 billion that’s all licenses’, Kevin replied.
‘I’m not giving up 51%’, says Jeff, and Robert says ‘I’m out
Then Kevin Harrington stated his collaboration with Kevin O’Leary’s original deal and after a while, Barbara says she was out due to severe uncertainties.
‘Jeff, it doesn’t seem like you know what you want, I’m out’ said Daymond.
Three sharks are out and Jeff standing with a single offer, and the heat of temptation is among the audience.
Jeff stated a counteroffer, ‘50-50’ but all sharks say no. After that Jeff says ‘I don’t accept the deals on the table’.
Voyage Air Guitar SHARK TANK UPDATE
After the rejection of Kevin O’Leary’s deal, Voyage Air Guitar had great organic publicity. Due to this, the company sales were severely boosted and according to the CEO of the Company, shark tank provided him the biggest deal to date. However, in season four, Mr. Wonderful has secured the Voyage Air Guitar deal with the Fender.
What happened to Voyage Air Guitar After the Shark Tank
Now the company sells its products across 200 retailers. As per the latest updates, the company is still in business and generates revenue of over $1 million per year.
Competitors of Voyage Air Guitar
Journey Instruments is one of the head-to-head competitors of the company but they are fairly new to the industry.