What Happened To Guard Llama From Shark Tank Season 8?
In the world of personal safety, one of the most iconic marketing campaigns has got to be Life Alert commercials. The memorable "Help! I've fallen, and I can't get up!" scene has permeated pop culture and is known in households worldwide. However, the device behind the viral advertising campaign is actually a useful tool that many seniors use to help keep them safe and connected in the worst-case scenarios.
Guard Llama, a company that approached "Shark Tank," hoped to capitalize on the technology by introducing a similar device to younger audiences that would use the phone's Bluetooth. The duo of Joe Parisi and Nick Nevarez even managed to land a deal on the show. However, while it may have seemed like a positive end result to viewers tuning in, not everything was copasetic behind the scenes. A series of unfortunate events after the show would eventually lead to one of the darker post-show updates in "Shark Tank" history.
What happened to Guard Llama on Shark Tank?
Guard Llama made its way onto "Shark Tank" season 8, episode 21 in 2017, with a literal llama on a leash, which initially delighted the Sharks. Based out of Chicago, Illinois, Joseph Parisi and Nick Nevarez jumped into their pitch. They quickly explained why they were seeking $100,000 for a 5% stake in the company, putting the total company valuation at $2 million.
Described as a "personal security platform," the device the duo presented is also commonly known as a medical alert system. While the invention has been around since the 1970s, the device has typically been perceived as most useful for people with disabilities or older adults. Parisi and Nevarez explained that their product was more alluring to the younger generation, with many sales coming via real estate agents and college students.
Unfortunately for the duo, it seemed as if the Sharks were more interested in the llama on set than the actual product. While Guard Llama had thought of a few enhancements, like an emergency pin and GPS tracking, Sharks like Mark Cuban raised concerns about potential liability. Between the app, the physical device, and the potential to lose the GPS signal, too many conceivable issues exposed the company to litigation.
Eventually, all but Kevin O'Leary and Barbara Corcoran would drop out of negotiations. O'Leary offered $100,000 for a $5 royalty per subscription until $120,000 was paid and 5% equity. Barbara Corcoran offered $100,000 for 20% and $2 on every sale, which the duo would eventually negotiate to 18%. The episode ends with the seemingly new business partners shaking hands.
Events turned dark for Guard Llama after Shark Tank
While it would seem like events on the show were positive for Guard Llama, they were anything but. Defunct social media profiles and BBB reviews reveal that Mark Cuban's concerns about the technology might have been right. Some users reported that the key fob device did not work as intended. However, the bulk of negative feedback all reported a similar issue. Users could not cancel their subscriptions even after they canceled the Guard Llama service.
However, this wasn't the full extent of the issues that Guard Llama would face. According to the Chicago Tribune, Joseph Parisi was charged with alleged trafficking of a controlled substance, among other drug charges, which would result in his arrest in 2019. Though the deal with Barbara Corcoran was never confirmed and likely never finalized, it was reported by the Chicago Tribune that the company had secured $1.1 million from Chicago angel investors and earned $300,000 in 2016.
What happened to the founders of Guard Llama?
Joseph Parisi's arrest resulted from a two-week investigation, which resulted in over $80,000 worth of drugs seized by authorities. According to the reporting, the shipment was sent from the Netherlands, which originally initiated the investigation. Though it's known that an $80,000 bail and a December 6, 2019 court date were set, there have been little to no details about the founder following the arrest.
The other co-founder of Guard Llama, Nicholas Nevarez, would continue in real estate, and he currently sits as the CEO of Zion Capital Investments. All mentions of Guard Llama seem to be removed from his public social media profiles. Beyond that, the company has gone dark, and the website no longer exists.
Like other failed "Shark Tank" companies, it seems like Guard Llama started with a decent idea but was undone by poor business practices. As one of the darker post-show updates in the series' history, the company is an interesting look at a failed company after its appearance on "Shark Tank."