Adam and Katie Stephey, a husband-and-wife duo from Normal, Illinois, appeared on Friday’s episode of ABC’s “Shark Tank” with a pitch the Sharks thought was a joke — but the co-founders ended up with a six-figure investment from Mark Cuban.
“Introducing our most successful product to date, the Toilet Timer,” Adam told the Sharks. “This is a sand timer that I invented. It gives you about five minutes to do your business, so you don’t miss anything important.”
Adam thought to create the Toilet Timer after he realized he was spending too much time in the bathroom, he said. “It’s primarily a gag gift.”
All five investors were skeptical – “Oh hell no,” Cuban said at first, and Barbara Corcoran added, “You can’t be serious.”
But, after Adam revealed the product’s sales, the Sharks were intrigued.
With $300, Adam started his company called Katamco, which sells the Toilet Timer, in 2017, he said, but sales of the timer began to pick up in 2019 during the holiday season. As a result, he generated $294,000 in sales that year, he said, and projects that by end of 2020, he will make $1 to $3 million in sales. At the time of filming, the company had already made $318,000 in sales, he said.