Bala Bangles Shark Tank Net Worth 2023
The Shark Tank pitch for Bala Bangles initially valued the company at $4 million, however following acquisition by two Sharks, this was reduced to $3 million.
Since then, the company has made steady sales with an annual revenue of $3 million demonstrating an increase in the companies net worth leading up to 2021.
After receiving a deal from two Sharks, Bala Bangles is now worth $10 million as of 2023, showing a remarkable success story due to their shrewd investments and entrepreneurial spirit.
What is Bala Bangles?
Bala Bangles is a company that has developed a product aimed at protecting your hands and wrists while working with delicate electronics.
The product is made of elastic looped steel wire that fits snugly around your wrist, preventing injuries that may arise from accidentally breaking the wires within the project. Not only is it functional, but it also boasts of a stylish design.
The founders of Bala Bangles are Maximilian Kislevitz and Natalie Holloway. Prior to establishing the company, they both worked at 72and Sunny, a marketing agency based in Los Angeles.
While Natalie is an active yoga practitioner and instructor, she is also involved in the day-to-day running of the business. On the other hand, Maximilian continues to work full-time in another job.
Who is the Founder of Bala Bangles?
Bala Bangles is a business that was co-founded by Maximilian Kislevitz and Natalie Holloway, who previously worked at a marketing agency in Los Angeles called 72and Sunny. While Max continues to work full-time, Natalie is both a yoga instructor and an active participant in running their business.
As devoted yoga practitioners, Max and Natalie sought to enhance their workouts by adding weights to their wrists and ankles. However, the products available on the market were not suitable for yoga due to their lack of mobility and unappealing appearance.
To address this issue, Max and Natalie launched Bala Bangles, which offers ankle and wrist weights that are not only practical but also fashionable. These weights resemble large bangles and come in a variety of colors and weights, ranging from one to two pounds. Made from cast iron coated with silicon, they are both sweat- and dishwasher-safe.
The idea for Bala Bangles came to Max and Natalie during a six-month trip to Asia. To fund their initial manufacturing, they launched a Kickstarter campaign, which raised $50,448 in February 2018. Today, Bala Bangles are sold at over 500 retail locations across the United States, including Nordstrom and Amazon.
A pair of one-pound bangles costs $49, while a pair of two-pound bangles costs $65. Max and Natalie are currently seeking investment from a Shark to further grow their business.
What Happened to Bala Bangles at Shark Tank pitch?
Max and Natalie, the founders of a popular yoga and Pilates product, seek the help of the Sharks to navigate offshore manufacturing and expand their retail distribution. They request a $400,000 investment for a 10% stake in their $4 million firm and provide their stories and free samples to the Sharks.
The Sharks are impressed with the design of the bangles and the sales figures, which have generated $2.5 million in revenue. However, the company’s inability to meet the high demand is a concern for them.
Kevin is the first Shark to make an offer, proposing a $400,000 loan at a 7.5% interest rate and a 5% ownership in the business. Maria offers $200,000 for a 30% stake but wants to partner with another Shark and requests more shares to serve as the product’s spokesperson. Lori tries to join forces with Maria, but Daymond offers $200,000 for the same stake.
Lori then makes a counteroffer of $500,000 for an 18% stake, but Mark and Maria intervene with a joint offer of $900,000 for a 30% stake in the company. Max and Natalie accept this deal, and the Sharks close the agreement.
What Happened to Bala Bangles after Shark Tank?
In the end, Sharks showed interest in investing in Bala Bangles, and the deal was successfully closed, resulting in a surge in demand for Bala products. Furthermore, Lori and Daymond have also invested in the venture, indicating that any concerns related to inventory have likely been resolved.
Due to the Covid-19 lockdowns, the company was able to benefit from the fact that people were unable to access gyms. As a result, they have sold millions of dollars worth of merchandise and are experiencing significant growth. As of June 2021, they generate annual sales of $3 million.
Net Worth of Bala Bangles
During the Shark Tank pitch the company was valued at $4 million, after acquisition by the two Sharks the company was valued at $3 million and they had make sales since then with annual revenue of $3 million. This show that the company net worth has increase in 2021.
Bala Bangles FAQs
What is Bala Bangles?
Bala Bangles are elastic looped steel wire, which fits snugly around your wrist, preventing any injuries resulting from accidentally breaking the wires within the project.
Who is the founder?
Maximilian Kislevitz and Natalie Holloway founded Bala Bangles. They formerly worked at 72 and Sunny, a Los Angeles-based marketing agency.
Natalie is a daily practitioner and yoga instructor in addition to being active in the operation of their business, while Maximilian continues to work a full-time job.
What is their offer on Shark Tank?
Max and Natalie are asking $400,000 for a 10% stake in the firm, which is valued at $4 million.
Did they get the deal?
Yes, they got the deal.
What is the offer?
Mark and Maria offer $900,000 for a 30% stake in the firm at valuation of $3 million.
What happened to Bala Bangles after Deal?
After all, Sharks were interested in investing in the Bala Bangles firm, and it all closed, and Bala is flying off the shelves.
Lori and Daymond have also made an investment in this venture. They’ve almost certainly resolved their inventory concerns.
Is Bala bangles successful?
Bala exceeded $2 million in sales in 2019, owing to pick-up from retailers and websites such as Free People, Goop, and Bandier.
By the end of 2020, Bala had grown tenfold, reaching revenue of $20 million.
Can you run with Bala bangles?
Bangles look best when used with low-impact exercises such as yoga, barre, Pilates, strength training, or walking.
Wearing them during high-impact activities such as jogging or plyometric can place undue strain on the body, resulting in muscle imbalance, poor form, connective tissue damage, and even injury.
How do you work out with Bala Bangles?
Press both arms overhead in a controlled manner while wearing a Bala Bangle on each wrist.
At the height of the action, when your biceps are close to the ears, pause. Restore the initial position. Rep for three sets of 12 reps. June 4, 2021
What are their sales?
During the Shark Tank pitch they were claiming that they had made $2.5 million in revenue.
Where are Bala Bangles manufactured?
The Bend Collection is entirely created in Los Angeles. On February 28, tune in to Shark Tank to see whether Bala Bangles can strike a deal with the sharks.
Should I get 1 or 2 pound Bala bangles?
Though 1 pound may not seem like much, Bala Bangles are meant to add intensity to an already strenuous workout.
They recommend the 12LB Bangles if you’re just starting started. Unless one already physically active, they recommend the 1LB Bangles. If one is an advanced lifter, the 2LB will give their workouts an extra boost.
Are Bala Bangles reliable?
The company says that the product is “industry leading, patented steel technology”; but some customers have complained of breakage on the part of their Bala Bangles.
A customer on Amazon wrote that her 10LB bangle broke after only two weeks of wear. She reached out to the company for help, but received no response.
What is the net worth of Natalie Holloway?
Natalie Holloway net worth is unknown.
What is the net worth of Max Kislevitz?
Maximilian Kislevitz net worth is unknown.
