Entrepreneurs: Solomon Fallas

• Business: Party cups with build in shot holder
• Ask: $300,000 in exchange for 15% equity
• Result: $300,000 in exchange for 25% equity
• Sharks: Daymond John

The bright red solo cup is an iconic party product that can be found across the US and has been popularized in films and tv shows for decades. According to certain statistics, during house parties around the world, more than 2 billion red disposable cups are used.

But, have you ever experienced a long wait just because there weren't adequate beer cups or shot glasses at a college party? Solomon Fallas came up with a creative solution to this problem. 180Cup was created by the inventor and businessman Solomon Fallas.

It is a single-use Solo plastic cup that is frequently used at many parties, however, the 180 Cup is special in that it serves two purposes at once. The same cup has a two-in-one feature that can serve beer and hard drinks separately rather than simultaneously.

What is the 180 Cup?

The adaptability of the 180 CUP demonstrates its genius. The shape of the bottom of this cup allows for rotation and various uses. It can be used as a shot glass or a dip holder for fries thanks to a small aperture at the base that acts as a "second" cup.

For precisely these reasons, the 180 CUP has a great chance of becoming a huge hit in the US. For anyone who wishes to take advantage of the ease of a multi-use cup, this cup would be a fantastic addition given the popularity of barbecues, concerts, and other outdoor and indoor functions.

The 180 Cup might be compared to the typical disposable cup you may have used at numerous household and college events. But 180 cups are simply more than the average party cup. Use the 180 Cup as a beer mug or a glass for hard liquor. Hence, the term "two-in-one cup" was coined. Solomon created the revolutionary 180 cups, popularly known as "The New Red Cup". Now, if you believe 180 Cup could be expensive, you might be shocked to learn that 180 Cup is actually fairly affordable and cost-effective for your house gatherings.

Now that we know a bit about the product, let's take a look at its creator.

The Founder of 180 Cup: Solomon Fallas

The 180 Cup was created and is owned by Solomon Fallas. Entrepreneur Solomon kept showing up at events at the college keg, where he discovered that the nature of the typical beer cup left him with few to no shots. As a result, he developed the idea for the 180 Cup. As far as we are aware, the cup at first glance appears to be your standard red throwaway cup, but closer examination reveals a shot glass hidden at the bottom of the cup. Solomon wants 180 Cup to become a staple at frat and keg parties across the country. He spent a lot of effort making sure his creation wouldn't interfere with traditional party games like beer pong or flip cup.

Prior to Solomon's Shark Tank participation, 180 Cup wasn't as well known. The product had few successful sales and failed to gain recognition. The 180 Cup was designed by Solomon to take the place of the red cup at house parties and barbecues. Solomon strived to get the 180 cups into stores but failed despite developing a product of remarkable inventiveness. Solomon's standard marketing strategies for 180 Cup scarcely helped the brand gain any traction. This is when he decided to take a leap of faith and appear in the Tank to try his luck with the Sharks.

The Pitch on Shark Tank

In order to advertise his 180 Cup and secure funding to boost sales and marketing, Solomon approached Shark Tank. On the fifth episode of season five of the show, he applied to bag a shark, asking for $300,000 in exchange for 15% ownership of his company, 180 Cups. He gets to the Shark Tank stage and tells his tale of how he came up with the idea for the 180 Cup.

He said that during the preceding six months, he had been proactive, distributing more than 5 million cups for a total revenue of $385,000. The cup is sold in more than 500 establishments. Solomon also stated that he enlisted the aid of college students to promote his product to nearby retailers.

Solomon then gives the sharks a sample of the 180 Cup and tells them that it costs about the same as a conventional red party cup. Daymond John gives Solomon some time to talk before making a quick $300K offer for a 20% interest in 180 Cup. Although Mark Cuban was also interested in the 180 Cup, he left because he thought the product was too specialized. JP DeJoria follows Mark out of the room because he doesn't think the 180 Cup is something he would be interested in. After everyone has departed, Solomon is made fun of by Daymond John for rejecting his offer. So, Solomon Falls appeals to Daymond John to change his mind and invest in the product.

Daymond, fortunately, decides to renegotiate the agreement and makes Solomon an offer of $300,000 for a 30% ownership in 180 Cup. Solomon claims he will part with 23% of 180 Cup in exchange for $300,000. Finally, Solomon Falls and Daymond John reached an agreement on $300K for a 25% ownership part in 180 Cup, and Solomon now has a deal.

What happened to 180 Cup after its Shark Tank Appearance?

Following their appearance on Shark Tank, 180 Cup gained a respectable quantity of sales and saw some success. To promote the 180 Cup, Solomon established a program for college ambassadors. If a person gives 180 Cup details on liquor stores and bookshops in their vicinity, 180 Cup will accept them as an ambassador through the college ambassador program. The valuation of 180 Cup was about $1.2 million when it made its Shark Tank debut. Additionally, Walmart now sells the goods. With 15,000 store outlets and distribution in five different nations around the world, the business's sales have increased to 4.9 million US dollars in revenue since the Shark Tank episodes aired.

After a few years, Solomon expanded his company and cut ties with Daymond. The full details can be found in Beyond the Tank episode 202. A number of disagreements regarding how the 180 Cup should be organized and extended led Daymond to decide to end his relationship with Solomon. However, Walmart, Amazon, and other physical and online retailers continue to offer 180 Cup.

Sadly sales of the 180 Cup have halted since the market is competitive and there are alternative competitors. Solomon also struggled to properly promote the product. The company went out of business in December 2016. He currently works for Collective Soles, a company that distributes socks and undergarments, as an account officer.

Have a business idea in mind? Here's how you too can get started

Step 1: 🛒Setup your Ecommerce Store

For the second half of 2022, retail eCommerce sales in the US alone totaled about $257 billion. This is an increase of 2.7% compared to the previous quarter. The most effective marketing tool you will ever have is your eCommerce website.

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Step 2: 💌 Start Sending Newsletters

Global email user numbers were projected to reach 4.3 billion in 2022. In 2025, this number is projected to increase to 4.6 billion, accounting for more than half of the projected global population.

Additionally, this Forbes article highlighted the impact email marketing had in the lives of successful Shark Tank contestants.

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Step 3: ⚡Grow your audience on social media

According to the most recent social media figures, there will be 4.59 billion social media users globally in 2022, and this number will only increase over the following several years (Statista, 2022). That currently represents around 57.5% of the world's population. Social media is the cornerstone of every successful marketing campaign in current times.

A wonderful example of an organization that has built its brand on the foundation of an effective social media approach is Grace & Lace from Shark Tank Season 5. When the entrepreneurs initially entered the tank, they asserted that their DTC site accounted for 90% of their more than $800k in revenues and that they hadn't yet spent a single penny on marketing. The business's socks profited from having over 34k incredibly engaged Facebook followers on top of being a popular pin on Pinterest.

Social media is about interacting and engaging; it's about establishing and sustaining relationships and using those interactions to promote your professional aspirations. And having genuine conversations is the sole strategy to do that.

You must be willing to pay attention, genuinely listen to what your community has to say and create consistent, high-quality content. So how can you do that with several competitors vying for the same success? Invest in a social media management platform!

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