Entrepreneurial duo Patrick Parizo and Armand Ferranti took their product, Draft Top, to the Sharks on ABC’s Shark Tank to see if they could score a deal from one of the investors on the show.
According to the episode synopsis, the entrepreneurs “demonstrate how one can turn any aluminum can of beer into a draft beer experience.”
The entrepreneurs were able to pitch their product to Sharks Kevin O’Leary, Marc Cuban, Daymond John, Lori Greiner and Robert Herjavec.
Here’s what you should know about Draft Top on Shark Tank:
1. The Draft Top Opener Aims to Make Drinking More Delicious
The Draft Top allows users to take the lid off of a can and drink from the opening without leaving any sharp edges behind. According to the company website, the slogan is “Drink Topless” because of the way the Draft Top works.
“With the Draft Top you are able to release the aroma allowing you to enjoy your beer as the brewer intended, without needing a glass or wasting a plastic cup,” the website reads.
The Draft Top can also be used for sodas, seltzers or other canned drinks.
2. The Product Raised Nearly $600,000 on Kickstarter
The Draft Top Tool raised a total of $595,789 on the Kickstarter campaign, which had a goal of $20,000. There were a total of 16,735 backers.
The product was set to start being shipped out in early 2020, though many of the commenters on the Kickstarter have said they backed the product and have not received their product as of January 2021.
Other backers said that they had the original product, though they eventually broke, and others have said they had luck getting their product after reaching out via email on the website.
3. The Draft Top is Easy to Use
According to the company website, the Draft Top Tool is easy to use, though there is a learning curve to it.
To use, the customer opens the tool, places it flat on the can, presses the tool down and squeeze the handle. By rotating the can all the way around, the top can eventually be popped off.
There are also videos that show customers how to use the product that are available to watch on the company website. The tool must be rinsed after each session, and the tool is not dishwasher safe.
4. The Cofounders Spent Time Working in the Aerospace Insurance Industry
The company website offers a look at the backgrounds of the executive board of the company, which includes Armand Ferranti and Sean Kelly as the cofounders. Both of the cofounders have a background in the aerospace industry.
Pat Parizo, who is the other person visiting the Shark Tank is the head of sales at the company. He got in on the product for the free beer, the website jokes.
Parizo previously worked in the health wellness and fitness industry as a brand promoter.
5. The Company Has Partnered With NASCAR
According to the website, the Draft Top Tool has partnered with NASCAR. The product is part of the NASCAR Playoffs Weekend, which aired on NBC in October 2020.
“The Draft Top team is thrilled to ‘Paperclip’ this partnership with NASCAR and the Half Mile of Mayhem that is Martinsville Speedway,” said Sean Kelly, Co-Founder of Draft Top. “We know canned beer is a big part of the culture of NASCAR and we are excited to elevate that experience for the fans.”
Tune in to Shark Tank to see if the Draft Top Tool is attractive to the Sharks.