Byoot Swimsuits Shark Tank Net Worth 2023 | What Happened After Shark Tank?
Byoot Shark Tank Net Worth 2023
Elyce and Nathan appeared on Shark Tank season 12 episode 14 in search of a $50,000 loan with 30% equity stake in their company, Byoot Swimsuits, translating to a valuation of $166,666.66.
Byoot Swimsuits is a small American-based swimsuit manufacturer launched in 2019 by the founders Elyce Billany and Nathan Billany. Byoot Swimsuits appeared on Shark Tank season 12 episode 14 in search of $50,000 for a 30% stake in their company.
Kendra Scott invested $50,000 in this company as a loan with 10% interest + 5% equity. After appearing on Shark Tank, the sales of the Byoot company went up significantly because their products were out of stock a few months after that episode aired.
The net worth of Byoot Company has increased since then. According to several sources, Byoot Swimsuits Net Worth is estimated to be $250,000 in 2021. and as of 2022, Byoot Company’s net worth is estimated to be around $300,000.
The company is still under the $1 million valuation but it is profitable from sales through its own website
According to various online sources, Byoot Swimsuits’ net worth is estimated to be between $250,000 and $350,000 as of 2022.
What is Byoot Swimsuits? Who is the Founder of Byoot?
Byoot is a company that specializes in creating swimsuits with unique design that simplifies the process of using the bathroom. The swimsuits have buttons on the side, which mainly benefit women, as they allow them to use the restroom without having to remove their entire swimsuit.
The swimsuits are crafted using a blend of 86% nylon and 14% spandex, which makes them durable and stretchy, ensuring comfort and longevity. Byoot currently offers approximately six different designs of these swimsuits, with prices ranging from $70-$85.
More designs are expected to be added in the future, and the company’s website features “virtual fits” to help customers feel confident about their purchase.
Byoot was established by a couple, Elyce and Nathan Billany, hailing from Le Claire, Iowa. During a vacation in Jamaica, Elyce, who was pregnant at the time, had to frequently use the restroom and found it inconvenient to remove and put on her bikini every time.
This prompted her to search for a simpler method to pull off a one-piece bathing suit. Upon returning from the trip, Elyce located a factory in New York and began submitting her ideas.
After months of trial and error, she eventually developed a design that was both functional and aesthetically pleasing. In August 2018, the company launched a successful Kickstarter campaign that raised $30,000 in funding. Additionally, Elyce has authored a children’s book called “Mama Bean Has a Dream.
What Happened to Byoot Swimsuits at the Shark Tank Pitch?
Elyce and Nathan made an appearance on the fourteenth episode of season 12 of Shark Tank to seek an investment of $50,000 for a 30% share of their company. This offer translates to a company valuation of $166,666.66.
During the pitch, Elyce handed out samples and explained how she came up with the business idea. The duo was seeking assistance from the Sharks with marketing and sizing.
Although the Sharks expressed interest in the Billanys’ business, Kendra Scott was the only one to make an offer. She proposed a $50,000 loan with a repayment period of three years, in exchange for a 5% share in the company. The Billanys agreed to the terms offered by Kendra Scott.
What happened to Byoot Swimsuits after the Shark Tank Pitch?
The company is still operational, but they completely sold out of their merchandise soon after the first air date of the show.
Despite the lack of concrete evidence, it appears that the company’s deal with Kendra did not come to fruition. This conclusion is drawn from the fact that the company attempted to raise $35,000 through a Kickstarter campaign, but only managed to raise $1,622, indicating that the deal was likely unsuccessful.
As of July 2021, it seems that the contract with Kendra fell through. Since the show’s debut, the company has created Byoot bikinis, and Elyce has authored a book on entrepreneurship titled Mama Bean Has a Dream.
Byoot Swimsuits Net Worth.
Elyce and Nathan appear on Shark Tank season 12 episode 14 in search of $50,000 for a 30% stake in their company, Byoot Swimsuits. This translates into a $166,666.66 valuation.
On accepting an offer from Kendra of $50,000 loan at 10% interest + 5% equity, they valued their business at $1 million.
Byoot Competitors.
Byoot faces competition in its market spaces which includes; Raising Wild.
Byoot FAQS
What is Byoot?
Byoot is a Company that designs unique swimsuits that are designed to make bathroom access simple.
They include buttons on the side that allow the users, who are mainly women, to use the restroom without the inconvenience and bustle of taking down a saturated swimsuit.
The swimsuit is made of 86 percent nylon and 14 percent spandex, which makes it more durable and stretchy.
Who Invented Byoot?
Elyce Billany and Nathan Billany, a couple from Le Claire, Iowa, established Byoot.
How much was they seeking in the Shark Tank?
They were seeking $50,000, in exchange for a 30% stake in their business.
Did they get the deal from the Sharks?
Yes, they secure an investment from Kendra Scott of $50,000 loan at 10% interest + 5% equity.
Where can they buy Byoot?
They sell their Website.
What episode was Byoot aired?
They were featured on season 12Episode 14
Is Byoot still in business?
Byoot is still in business today. The company’s website is still operational, and it allows consumers all around the world to place orders for swimsuits.
How much is Byoot to purchase?
The price of a Byoot suit is $75.
What is the Byoot Website?
They can check out the website at www.byootcompany.com.
Where are they based?
Byoot was created in Iowa, US. They produce and sell their products globally as well.
When was Byoot aired on Shark Tank Pitch?
They were featured on Shark Tank season 12 episode 14 on February 19th, 2021
What material are Byoot made of?
They are 86% Nylon and 14% Spandex.
Are Byoot Swimsuits in stores?
They can purchase them exclusively on the Byoot website.
Is Byoot available on social media?
Yes, they have a Facebook page, Twitter page and Instagram.
What methods of payment do they accepts?
They accept Payments Credit Cards, Visa, MasterCard, American Express and PayPal.
Do they ship?
They provide $5 flat-rate delivery on ALL purchases. After their payment has been validated, it may take 7-14 business days to complete and dispatch their purchase, although this time may be extended owing to high volume.
They will send them an email with an anticipated shipment date. Weekends and holidays are not included. The typical shipping time is 6-7 days.
Orders can be cancelled and refunded before they are sent.
What is their return and exchange policy?
Returns for store credit are allowed within 14 days after receiving the order. Items on sale are non-refundable.
How can they contact them?
They can email them at [email protected]
Is Byoot a private or a public Company?
Byoot is a private Company.
What is Byoot business model?
They are an online retailer.
Who are Byoot main competitors?
Byoot faces competition from Raising Wild which is an outdoor clothing line based in California.
Why was Byoot created?
They established the company to provide women a simple and convenient means of accessing the bathroom while wearing their swimsuit.
What is the net worth of Elyce Billany?
Elyce Billany’s net worth is unavailable.
What is the net worth of Nathan Billany?
Nathan Billany’s net worth is unavailable.
When was Byoot founded?
Byoot was founded in 2019.
Do Byoot have any other products?
They’ve introduced others products such as Byoot bikinis.
