Hyconn is an organization that introduced a device that helps in quick connection and distinction of hoses. The Hyconn Shark Tank tool is designed in a way that may handle any kind of situation. Jeff Stroope set up this company understanding the need for the device in the contemporary market.
The inventor of the company represented Hyconn on Shark Tank Season 3 in 2012. Hyconn is nothing but a quick-connect adapter. It helps in connecting and disconnecting hoses and fittings easily at a ticket speed. This product is specifically designed for firefighters and other emergency personnel.
The only objective of this tool is to save time and cut down the injury risk at the time of setting up the hose in high-pressure situations. The Hyconn adapter is created to connect the ends of couplings, hoses, and other fittings and features. This outstanding Hyconn hose connector helps the users in connecting and disconnecting the hose within only a few seconds.
This device is supposed to be safer and more efficient than conventional threaded connections which take too much time and need lots of effort.
Jeff Stroope depicted the function of Hyconn appearing on Shark Tank. He appealed to the sharks for an investment of $500,000 in return for a 40% share in his company, Hyconn LLC. The sharks got overwhelmed after seeing the potentiality of the product particularly for firefighting applications.
On Shark Tank, Jeff Stroope managed to get an offer from Mark Cuban who was ready to invest $1.25 million in exchange for a 100% share in the business along with a 3-year employment contract and a 7.5% royalty on upcoming sales.
But Mark Cuban’s fire hose deal was not fruitful after the Shark Tank Show as they both had different visions and directions for the business. Hyconn faced a lot of challenges. It faced huge problems when it tried to rebrand itself into JAH Enterprises and concentrate on industrial applications in place of firefighting.
The status of Hyconn today is still unknown to us because the company is available rarely online. The reason behind the foundation of Hyconn was to make the best hose clamps in the world. The patented design of Hyconn manufactures its clamps are the safest and most trustworthy. The products of Hyconn are utilized in different marine, automotive, and industrial industries.
After getting featured on Shark Tank, Hyconn started to grow and develop its product line. The products of Hyconn are currently available in more than 50 nations all over the world. Let’s learn Hyconn LLC’s net worth in detail.
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What Is Hyconn?
Hyconn fire hose connectors have the capability of saving a life. It can make a difference within a few seconds only. Hyconn connectors help to connect hoses quickly and easily to fire hydrants without any threading or wrenching.
Hyconn connectors are quick and safe and have been experimented with to have pressure ratings up to 1000 psi. It can connect hoses to hydrants within only 3 seconds. But the conventional devices take 30 seconds to connect hoses to hydrants.
The products of Hyconn are for gardeners and homeowners so that they can connect hoses to their faucets easily and quickly. Hyconn was created more than 11 years ago and now it is a patent-pending product. It may save a lot of lives and a higher amount of dollars in property with the help of its super-fast speed and unique form.
You may attach Hyconn to any fire hydrant without using any adapter or device as it has passed a life cycle experiment of more than 1,000 usages by being pressure tested to 1,000 psi.
Moreover, the Hyconn device is compatible with LDH. There might be a Storz connection on the output side of the gadget. The Edition is perfect to be used by the recreational gardener and grave professional. You may water by only pushing and flicking your wrist.
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Who Is The Inventor Of Hyconn?
Hyconn was set up by Jeff Stroope. He came up with the idea of founding this company when Jeff at the time of his tour as a firefighter in Texas saw a lot of homes getting devastated.
He understood that the main part of the problem was that it takes a lot of time to attach the hose to the fire hydrant and begin the delivery of water to the fire. He then decided that there must be a better way and hence he made Hyconn.
He introduced a Hyconn for firefighters and one for the homes. The Hyconn prepared for homes allows the garden hoses to attach the Hyconn to the home through a connector that makes the process simple. Hyconn can be attached to a hydrant within only three seconds which is far quicker than the conventional connector which takes 30 seconds to attach a hose to a hydrant.
Jeff faced a lot of problems along with getting time to design and develop Hyconn. He was a fireman as well as he was the full-time captain and maintenance supervisor of the fire brigade. That is why he did not get adequate spare time to dedicate himself to the development of the product. But he developed the product using most of his time at night and at weekends.
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What Occurred To HyConn Before Shark Tank?
Jeff Stroope has been serving as a firefighter for many years. The regular fire hose takes 30 seconds to connect to a fire hydrant. During an emergency, time is a big factor. The firefighter, Jeff Stroope had experience in emergencies and with the help of this he introduced the Hyconn.
Jeff came up with the idea of creating Hyconn because he wanted to invent an easier and quicker way to attach and detach hoses, especially in firefighting and emergencies for saving time and reducing the injury risk.
That is why he developed Hyconn, a quick connect device developed for hoses, couplings, and various fittings. The unique instrument helps the users to attach and detach hoses with one hand within a few seconds. That is why it is more effective and secure than conventional threaded connections.
Before appearing on Shark Tank, Jeff Stroope introduced samples of the HyConn adapter and completed experiments and basic marketing endeavours. He has a firm belief in the capability of his product. That is why he knew his product can make a difference in firefighting and other platforms that depend on hose connections. That is why he required money to grow his production, develop his marketing endeavours, and develop the business. Hence he asked the sharks to invest in his company after appearing on Shark Tank.
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What occurred to Hyconn on Shark Tank?
Jeff Stroope came up on Shark Tank intending to get an investment of $500,000 in return for a 40% share in his company. Hyconn was pitched on Shark Tank season 3 in 2012.
Jeff showed his quick connect instrument that helps to attach and detach hoses and fit quickly and easily concentrating on firefighting and crises.
Jeff depicted the function of Hycoon at the pitch and explained how the instrument connects to the ends of hoses, fittings, and couplings, and enables the users to attach and detach hoses with one hand within only three seconds.
He also depicted the advantages of using Hyconn like conserving time and decreasing the injury risk at the time of setting up hoses in high-pressure conditions.
Jeff appealed to the sharks to invest $500,000 in his company in return for a 40% share in his business. He was able to impress the sharks by showing the potentiality of his product particularly for firefighting applications. The sharks discussed with Jeff in detail the marketability, competition, and probably patent problems of the product.
Finally, Mark Cuban proposed to invest $1.25 million in exchange for 100% of the business along with a 3-year employment contract, and a 7.5% royalty on future sales. Jeff signed the deal.
But unfortunately, the deal was not successful after the show, as they both have different visions and directions for the business. After that, Jeff encountered a lot of problems. The company is not present online now. So, we do not know the current status of the company.
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What Occurred To HyConn After Shark Tank?
After Shark Tank, Jeff pulled out of his transaction. Mark Cuban also moved back from the deal as soon as he understood what he has done.
On the Facebook page, Stroope said that when it was high time to raise funds, Mark Cuban started to modify the terms of the deal. Mark Cuban had not made any comment publicly about the commerce.
Jeff had no experience on how to handle investors. That is why he faced a lot of problems. The businessmen learned a new lesson from this.
Stoppe has reported that Mark Cuban decided to license the idea with another firm to publicize the quick-disconnect hose fitting. In this way, the cost will be decreased and the profit will be increased. Jeff did not agree with the new planning of Mark Cuban.
That is why they got separated.
Hyconn collaborated with the economic development agency Innovate Arkansas in July 2011. It was released that the company is now going to produce software but that has not occurred to date.
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Did HyConn Manage to Obtain A Deal From Sharks?
Mark Cuban was ready to invest $1.25 million in the company in exchange for a 100% share in the business and also attached a few clauses.
But unfortunately, the dealing was not successful. The founder shared in his Facebook post that the backer ceased to take part in the contract and wanted to modify the clauses of the contract when it was time to raise the funds.
As soon as the original contract became unsuccessful, another venture capital company purchased a share of Hyconn LLC. In this way, the founder got a patent for his company.
The Hyconn is not available for purchase since 2016 and the company is out of business.
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HyConn Shark Tank Update
Jeff pitched his product on Shark Tank for getting a deal. He was successful in getting a deal but the deal did not materialise. The founder got his patent on the technology behind Hyconn but the product is not available anymore. The company became bankrupt.
The company has a website. You will find videos on the website on the procedure of using it. You will also find a link there from where you may buy the product. But you will not be able to buy anything from the web.
Jeff was not able to complete his orders without the funds from Shark Tank. He had to wait many years to find another investor for his company.
Though the website of the company is available, it is not available on any social media platform. The founder now works as Tool and Die Shop Manager for D&M Holding Company, an Arkansas-based munitions manufacturer.
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How much is Hyconn worth?
Hyconn’s value was $1.25 million when it came up on Shark Tank. As of 2023, we do not know Hy-conn’s net worth as it is not active in business any more. We even do not know Jeff Stroope’s net worth.
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Final Verdict
After appearing on Shark Tank, a few companies were not able to become successful. Hyconn is a company that was not able to become successful for several reasons. Hyconn isn’t active in business as of now. The products of the company are not also available for purchase any more.
FAQs
Is Mark Cuban still the owner of Hyconn?
No, Mark Cuban is not the owner of Hyconn any more. After the show, the founder and Mark Cuban separate their ways. Cuban concentrated on his other business opportunities.
Is HyConn Still In Business?
The website of Hyconn has been deactivated and as of 2023, the company is out of business. On the show, though the founder got a deal from Mark Cuban, it was not successful as their visions did not match. That is why Jeff finally did not receive any funds or support from Mark Cuban.
How much is HyConn worth now?
We have said that Hyconn is out of business now. As per the reports, Hyconn managed to generate a valuation of $5 million after coming up on Shark Tank. Jeff Stroope himself moved forward with his company without getting any investment from Mark Cuban finally.
He encountered a very tough competition. The company managed to beat other adversaries with its product. But unfortunately, it is out of business now.
