Published 19:09 IST, February 17th 2021
How much has Zorpads grown since getting a $150,000 investment on Shark Tank?
Zorpads was one such innovative product that appeared on the Shark Tank. Read on to find out what happened to Zorpads since it appeared on Shark Tank.
Shark Tank is a popular American TV show where budding entrepreneurs come to the show to show off their business ideas to the investors or the 'sharks'. Zorpads was one such innovative product that appeared on the show. Read on to find out what happened to Zorpads since it appeared on Shark Tank.
Zorpads Shark Tank Update: How much did the brand grow?
Zorpads are a type of shoe odour removal pads, that the makers claim has been made with 'NASA tested technology'. The founders of this unique business idea are Harvard Business School graduates Taylor Wiegele(an ex-SpaceX employee) and Sierra Smith. They pitched their product, the Zorpads on Shark Tank in January 2019. They both came wearing matching space-themed suit and dress.
The pair went into the Shark Tank seeking an investment of 150,000 dollars in exchange for 8 per cent stake in their company. The sharks were plenty impressed with Zorpads and managed to bargain their way into getting a 22.5 per cent stake of the company for a 150,000 dollar investment. Regular investor Lori Greiner and famous guest Charles Barkley, the NBA player made the investment.
Also Read: 'Shark Tank': How Michelle Jimenez Of Pizza Cupcake Cracked A $150k Deal With Lori Greiner
As per the Shark Tank blog, at the time the Zorpads episode aired in January 2020, Taylor was working with the global product marketing depart of Mattel's Hot Wheels and Sierra was still employed as a high-level executive at Leavitt Equity Partners. Zorpads was their side business. As of now, Zorpads is busy spending money on marketing and advertising on Google. Their products are available in multiple countries through Amazon, Walmart and other e-commerce retailers.
The Zorpads owners told Harvard Business School in an interview in 2019: ”A side hustle is super motivating and fun, and it forces you to focus your time on something else rather than absorbing all of your time at work. Maybe it will grow and become your full-time role, but I think the biggest barrier is people believing they don’t have the time or can’t quit their day job, but it’s not an either/or.”
Zorpads Net Worth: How much is the shoe odour removal company worth?
There is no official evaluation of their net worth available but based on a 150,000 investment for a 22.5 per cent stake their company is at the very least their net worth should be more than a million dollars. Also considering the fact that their products are shipped worldwide and have received generally good reviews, their net worth would have gone up.
DISCLAIMER: The above information is sourced from various websites/media reports. The website does not guarantee a 100% accuracy of the figures.
Updated 19:09 IST, February 17th 2021