See Rescue Streamer
NO DEAL
EPISODE SUMMARY
🕓 Air Date: April 21, 2017
Asking For:
$200,000 for 20%
Investor:
No Deal
Deal:
No Deal
PRODUCT SUMMARY
See Rescue is a visual locating device, the See Rescue streamer, designed to make individuals visible and increase chances of rescue, applicable on both land and water.
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Background Story
Dr. Rob Yonover, the founder of See Rescue, is a distinguished Ph.D. scientist based in Honolulu, Hawaii. His unique background includes extensive work on volcanoes, where he has applied his scientific expertise. Beyond the laboratory, Dr. Yonover is an avid adventurer, often pushing the limits by surfing big waves and fishing in rough waters, experiences that put him on the edge of life and death. The inspiration for See Rescue stems from Dr. Yonover’s firsthand encounters with the challenges of extreme environments. Recognizing the frequent occurrences of individuals getting lost at sea or in remote areas, he set out to develop a solution that could make the difference between life and death.
This drive for innovation led to the creation of the See Rescue streamer. The streamer, a visual locating device, is a result of Dr. Yonover’s commitment to safety in both aquatic and terrestrial settings. Its design incorporates air-filled spreader bars, lights, and reflectors, ensuring it remains visible day and night. Driven by a passion for continuous improvement and a desire to contribute to the safety of others, Dr. Yonover’s journey with See Rescue took an unexpected turn when personal challenges arose.
His wife’s battle with multiple sclerosis prompted Dr. Yonover to license the technology to sustain the business while he devoted himself to caregiving and raising their children. The subsequent reclamation of the technology turned See Rescue into a family business, further emphasizing the personal connection and commitment behind this life-saving product. Dr. Yonover’s background story intertwines scientific expertise, adventurous spirit, and a deeply personal commitment to enhancing safety in challenging environments.
The Product
The See Rescue streamer, a revolutionary visual locating device, is designed to enhance safety and increase visibility in both water and land environments. Weighing 13 ounces for the small version and 8 ounces for the fighter-pilot version, the streamer unfolds like a helix, utilizing air-filled spreader bars that prevent twisting or curling.
This innovative device serves as a continuous signaling solution, making individuals a large and visible target. It incorporates lights and reflectors for day and night visibility, ensuring effectiveness in diverse conditions. The water-soluble plastic construction contributes to its durability and reliability, while its lack of batteries, chemicals, or electronics eliminates the risk of failure.
See Rescue streamers are available in two sizes, with the military versions designed for fighter pilots. Priced at $78 for the small version and $118 for the larger one, these streamers provide a cost-effective alternative to traditional electronic signaling devices. The product caters to a wide range of applications, from water activities like boating to land-based adventures such as hiking.
To purchase See Rescue streamers, customers can explore various channels, including adventure stores and hiking equipment retailers. With its versatility, durability, and effectiveness, the See Rescue streamer stands as a reliable safety tool, offering peace of mind to outdoor enthusiasts and professionals alike.
How It Went
The company’s position before Shark Tank
See Rescue has demonstrated robust performance over its 15-year existence, boasting a remarkable $15 million in sales. The company’s strategic approach involves licensing the patented technology and garnering approvals from military entities worldwide. As a result, See Rescue streamers have become a staple in safety equipment, particularly for fighter pilots and military applications. The company’s position in the market is further solidified by its partnerships with various military agencies, earning approvals and endorsements for its products. See Rescue streamers are distributed globally, emphasizing the brand’s international reach and recognition.
Wholesalers play a pivotal role in the company’s distribution network, helping extend the reach of See Rescue products to a diverse customer base. These wholesalers are crucial intermediaries, ensuring the availability of the streamers in retail outlets, adventure stores, and other relevant markets. See Rescue’s customer base spans beyond military professionals to encompass outdoor enthusiasts, boaters, hikers, and adventurers who prioritize safety. The versatile applications of the streamers make them appealing to a broad demographic, catering to individuals who engage in various activities both on land and water. Funding for See Rescue has historically been secured through licensing agreements, allowing the company to navigate challenges and maintain a steady stream of revenue.
See Rescue’s $15 million in accumulated sales underscores its financial health and market success. The company’s structure is characterized by a licensing model that was temporarily interrupted due to personal challenges faced by the founder, Dr. Rob Yonover. However, the reclamation of the technology turned See Rescue into a family business, highlighting its resilience and adaptability. The company’s current focus on obtaining military contracts and expanding its consumer reach reflects a strategic approach to further solidify its position in the safety equipment market.
The Negotiations:
The negotiations in the “Shark Tank” episode for See Rescue unfolded with a promising pitch by Dr. Rob Yonover. Seeking $200,000 for a 20% stake, Dr. Yonover showcased the See Rescue streamer, emphasizing its life-saving potential in various scenarios. The Sharks were intrigued by the product’s functionality and the founder’s background. However, as the negotiation progressed, concerns about scalability and the challenging journey of entering the mass-retail market became apparent.
Mark Cuban expressed interest but questioned the scalability and suggested that the amount sought might not be sufficient for the envisioned growth. The other Sharks echoed similar sentiments, highlighting the difficulty of starting from scratch and penetrating the consumer market. Ultimately, none of the Sharks made an offer, citing concerns about the substantial effort required to scale the business and the uncertainty surrounding its mass-consumer appeal. Despite recognizing the greatness of the product and its potential impact, the Sharks unanimously decided not to invest.
Dr. Rob Yonover left the Tank without a deal but remained optimistic that the exposure would raise awareness about the product, potentially saving lives. The negotiation showcased the Sharks’ caution regarding the scalability and market viability of See Rescue in the consumer space. While they acknowledged its effectiveness and the significant lives it had already saved, the challenges associated with taking the product to a broader market seemed to outweigh the potential returns for the Sharks.
