Esso Watches offered watches that contained detrimental ions. These reportedly may steadiness out optimistic ions that put pointless strain on people. Founder Ryan Naylor pitched the product on Shark Tank however it didn’t go as deliberate. The Sharks had been skeptical concerning the watches and he didn’t get a deal. The enterprise later shut down and is price $0 as of 2024.
About the Founder
Ryan Naylor is a serial entrepreneur from Phoenix, Arizona. He attended Viewmont High School and received a enterprise diploma from Utah State University.
After graduating from faculty, he was president of Local Work Marketing. It was a advertising company that provided companies resembling web site design, search engine optimization and PPC. Ryan spent eight years working the enterprise earlier than shifting on to his subsequent enterprise.
While nonetheless at Local Work Marketing, he grew to become the CEO of LocalWork, a recruitment tech firm that’s nonetheless working right this moment. Furthermore, he’s at the moment the CEO of a job posting software program referred to as VIVAHR.
Founding Esso Watches
Ryan researched detrimental ion know-how and the way it affected the physique. The Arizona native concluded that it was useful in sustaining steadiness because it subtle the variety of optimistic ions given off by trendy gadgets.
So, he created colourful watches with detrimental ions. The entrepreneur claimed that it eliminated unnatural strain on the physique and restores its innate power discipline.
Naylor launched Esso Watches in 2011 with a $10,000 funding and located a producer outdoors of the United States. Though there have been no official research that supported the product, he discovered believers and made $120,000 in a 12 months.
Shark Tank Pitch
In 2012, Ryan Naylor nonetheless had no scientific proof that his product labored. However, enterprise was doing nicely, and had hopes of bringing on a Shark to explode gross sales! He appeared on season three of the present, asking for $35,000 for 20% fairness.
Right off the bat, the Sharks (significantly Mark Cuban) had been uncertain concerning the product and believed it labored due to a placebo impact. Ryan let Lori Greiner strive it out, and it appeared to work. However, a lot of the Sharks had been nonetheless skeptical.
Mark Cuban didn’t even settle for a pattern and went out early within the pitch claiming it was a rip-off. Daymond John additionally identified that its design was not unique. Kevin O’Leary confirmed a little bit of curiosity after listening to concerning the gross sales however didn’t make a suggestion. Even O’Leary couldn’t lend his identify to any such product.
After Shark Tank
Naylor didn’t get a deal and the detrimental publicity from Shark Tank didn’t assist gross sales an excessive amount of. Not lengthy after the present aired, ExxonMobil sued the corporate as they owned the copyright to the time period “Esso.” They wished nothing to do with novelty watches and Esso Watches went out of enterprise.
Despite shutting down, Esso Watches reached $120,000 in lifetime gross sales and made a revenue of roughly $70,000. Today, Ryan is a serial entrepreneur and runs two firms within the recruitment house.
He is the CEO of LocalWork, a recruitment tech firm and VIVAHR, a job posting software program. Ryan has lengthy since moved on from Esso Watches and is now thriving as an entrepreneur. In hindsight, Ryan is a proficient digital marketer and will have created a extra moral enterprise.
