Flipoutz is the coin game invented by three siblings – Jake, Lachland and Erin Johnson. Each player wears a silicon bracelet that holds up to five coins which have inspirational messages on them. The idea is to collect and trade the coins with friends and track them online. The Johnson kids and their parents pitched Flipoutz on Shark Tank in 2011. They were looking for a $100,000 investment in exchange for 20 percent equity. On the show, they agreed to a $100k investment for 33 percent from three Sharks – Kevin O’Leary, Robert Herjavec, and Daymond John.
After Shark Tank, Flipoutz made its way into Toys R Us and Hallmark retail stores and according to BizJournals and others, John and the Johnsons sold Flipoutz to Wild Craze Inc. in 2013 for an undisclosed amount. The Johnson siblings Lachlan and Jake are now working on a new startup, Beaux Up, a line of bow ties made from “up-cycled” long ties. Jake pitched at Warren Buffett’s entrepreneurial competition “Grow Your Own Business Challenge” and won one of two $5,000 prizes. See photos below.
Selfies with Warren Buffett pic.twitter.com/ht9mH0TYnA
— Jake Johnson (@jake_j213) May 18, 2015
— Beaux Up (@BeauxUpBowties) May 19, 2015