SnapClips is a new weightlifting device, a weight collar designed to secure free weights to a barbell. What keeps SnapClips in place are layers of heat-treated steel reinforced by military grade Kevlar. The 19-year-old entrepreneur behind SnapClips, Martin Dimitrov from Wheeling, Illinois, pitched his patented product on Shark Tank in January 2018. He went into the Tank seeking an investment of $150,000 in exchange for 15 percent equity, and gave an impressive demonstration. (SnapClips can hold more to 800 lbs.!) Dimitrov made a deal with Mark Cuban, Lori Greiner and guest Shark Alex Rodriguez — $150,000 for 30 percent, contingent on Dimitrov staying in school!
[SnapClips on Amazon]
Three months after the Shark Tank episode aired, in April, Dimitrov revealed that he was still in negotiations with the Sharks, and that he’s learned many lessons the hard way, “like when people try to take advantage of him in contracts because of his age.” According to his LinkedIn page, Dimitrov is on target to graduate from University of Illinois at Chicago with a Bachelor of Business Administration in 2020. [Related: 27 Favorite Shark Tank Products — New List]
