Cat Drawing Shark Tank Net Worth 2023
Steve Gadlin appeared on Shark Tank in season 3, episode 7 to pitch his idea, Cat drawing, to the Sharks. He requested a $10,000 investment for a 25% stake in his $40,000 company. Mark Cuban offered him $25,000 for a 33% share of the company, which was more than Gadlin was asking for.
This was one of the most memorable moments on Shark Tank and often gets mentioned as one of the best episodes. After receiving an investment from Mark Cuban, the company’s value increased to $75,758.
Some sources online say that the net worth or valuation of Cat Drawing is currently around $250,000.
What Is Cat Drawing?
Cat Drawing is an online service where customers can request custom drawings of stick-figure cats. The idea for the business came to Steve one night as he pondered how he could turn his ideas into a successful brand with a dedicated following.
In 2011, he launched a website with just a PayPal button and an embedded YouTube video. Steve came up with the concept of a cute and family-friendly stick-figure cat performing various tasks.
His goal was to build interest and a market for his drawings, much like a popular newspaper cartoonist with a loyal fan base, and sell them online.
Who Is The Founder Of Cat Drawing?
The company began when Steve had an idea for turning his ideas into a commercial brand with a fan base.
This happened one night when he was considering his options. In 2011, the company was established with a website that initially had only an embedded YouTube video and a PayPal button.
Steve’s concept involved a family-friendly stick-like cat figure performing various tasks. He hoped to generate interest in the drawings and then sell them online, much like a newspaper cartoonist with a following.
Initially, Gadlin proposed the idea as a joke, suggesting that they establish a thriving company using only a widget.
Gadlin is an inventor who frequently finds inspiration in the bathroom, and he believes that his concept is entirely unique in the industry and that his drawings would sell well. Despite the simplicity of the idea, Gadlin’s passion and confidence are infectious.
What Happened To Cat Drawing At Shark Tank Pitch?
Steve Gadlin went to Shark Tank investors with his idea for Cat Drawing, hoping to obtain help with production and distribution. He was seeking a $10,000 investment in exchange for a 25% stake in his company, which was worth $40,000.
Gadlin started by performing a musical presentation for the Sharks on his cat-drawing company, complete with dance routines that had Mark Cuban dancing in his seat.
After the performance, Gadlin shared his business idea with the Sharks. He offered a bespoke cat sketching service for around $10, where customers could describe a cat and a scenario, and he would draw it. He could produce about 1,000 drawings each week, and he had sold over 1,200 drawings in the last year, earning slightly over $9,000.
When Kevin O’Leary asked about his plans for the money, Gadlin said he wanted to expand his collection to include greeting cards and other merchandise. However, Kevin O’Leary was skeptical about investing in artists, as the company was heavily reliant on the artist’s creativity, health, and ability to continue working.
Kevin O’Leary decided not to invest, and Robert Herjavec also declined the offer due to a lack of profits in the first year.
However, Mark Cuban was impressed with the idea and offered $25,000 for a 33% ownership of the business, which was more than double the initial investment request.
Gadlin agreed to the deal, and Mark Cuban even agreed to sketch one of every 1,000 cats. The deal was sealed not only with a handshake but also with a dance performance.
What Happened to Cat Drawing after Shark Tank?
The firm is now up and running after the deal was finalized, and a celebratory moment was shared with Steve and Mark Cuban on the pitch.
Since the business began, Gadlin has created 18,794 personalized cat drawings for individuals through his website in the span of four years. He also sold cat-themed t-shirts and other novelty items and provided employment to several people, even though he was struggling with acute writer’s cramps.
In January 2015, Gadlin announced that he would be discontinuing his cat-drawing business to concentrate on his new television show, Steve Gadlin’s Star Makers, which airs on WCIU-TV. However, despite his announcement, Gadlin’s website and social media accounts show that he still accepts cat-drawing requests from enthusiasts, indicating that his company is still active.
In June 2021, Steve relaunched the business by offering cat drawings for $9.95, the same price as when he first appeared on Shark Tank. So far, he has drawn almost 21,000 cats. In September 2021, he launched a Kickstarter campaign for The Fart Pedal, a guitar pedal that transforms music into fart sounds.
Net Worth of Cat Drawing
During the pitch, the company valuation was $40,000, after the Mark Cuban transaction the valuation of the company elevate to $75,756. Since the company has made some sales which might increase the company’s net worth in 2021.
Cat Drawing Shark Tank Updates
Steve Gadlin appeared on Shark Tank in season 3, episode 2, with his business idea, I Want to Draw a Cat For You. He was seeking a $10,000 investment for 25% of his business. Gadlin’s business idea was to draw custom cat drawings for people through his website.
He sang a song about his unique service of custom cat drawings that ended with what he described as his “signature move”. Gadlin’s presentation was entertaining and impressed Mark Cuban, who offered him $25,000 for 33% of equity, which Gadlin accepted.
After the Shark Tank appearance, Gadlin received thousands of email order requests for his I Want to Draw a Cat for You. He drew 18,794 custom cats for people through his website and sold cat tee shirts and other novelty items.
However, after becoming famous on Shark Tank, Gadlin decided to close down “I Want to Draw a Cat for You” after drawing 18,794 cat drawings. He later reopened the business and seems to be limiting customers to one per day.
In June 2021, Gadlin re-launched the business, drawing cats for $9.95, the same price as when he was on Shark Tank originally. The website is now officially taking new orders for only $29.95 per drawing.
Cat Drawing Shark Tank Table Summary:
| INFORMATION | DETAILS |
| Founder | Steve Gadlin |
| Shark Tank pitch | – Season 3, Episode 7, Requested $10,000 investment for a 25% stake in a $40,000 company. Got $25,000 for a 33% share from Mark Cuban |
| What is Cat Drawing? | An online service where customers can request custom drawings of stick-figure cats |
| Cat Drawing’s success | – Valued at $75,758 after the Mark Cuban transaction. Valuation in 2021 estimated to be around $250,000 |
| What happened after Shark Tank? | – Gadlin created 18,794 personalized cat drawings in four years. In January 2015, Gadlin announced that he would be discontinuing his cat-drawing business to concentrate on his new television show. The business was relaunched in June 2021 offering cat drawings for $9.95. Gadlin launched a Kickstarter campaign for The Fart Pedal in September 2021 to transform music into fart sounds. |
Cat Drawing FAQs
What Is Cat Drawing Shark Tank?
“I Want to Draw a Cat For You” is a business that was featured on Shark Tank in season 3, episode 2. The business owner, Steve Gadlin, drew crude stick figures of cats for customers based on their descriptions for $9.95 per drawing.
During his pitch, Gadlin sang a song about his business and danced, which impressed the Sharks. Gadlin was seeking a $10,000 investment for 25% of his business.
Mark Cuban invested $25,000 for a 33% share of the company. After the show, Gadlin received thousands of email order requests for his cat drawings.
Since appearing on Shark Tank, Gadlin has continued to draw cats for people all over the world. In 2022, he started drawing one cat per day and plans to draw 365 cats by the end of the year.
The “I Want to Draw a Cat For You” website is still taking orders for $29.95 per drawing. Gadlin’s business was successful, but he decided to close it down after drawing 18,794 cats. He later reopened the business and seems to be limiting customers to one per day.
How Does Cat Drawing Shark Tank Work?
“I Want to Draw a Cat For You” is a business that was pitched on Shark Tank by Steve Gadlin in 2012. The business involves drawing custom-made, crude stick figures of cats based on the descriptions of customers for $9.95 per drawing.
Gadlin was seeking a $10,000 investment for 25% of his business. During his pitch, he gave the Sharks a musical presentation of his cat-drawing business, complete with dance moves that even got Mark Cuban dancing along in his seat.
Cuban ended up investing $25,000 for a 33% share of the company, which was more than Gadlin was asking for.
After the Shark Tank episode aired, Gadlin received thousands of email order requests for his cat drawings. He drew over 18,794 custom cats for people through his website and sold cat t-shirts and other novelty items.
However, despite the initial success, Gadlin decided to close down “I Want to Draw a Cat For You” after becoming famous on Shark Tank during Season 3.
He later reopened the business and seems to be limiting customers to one per day. Demand is high enough that Steve is booked a year in advance to draw cats
Is Cat Drawing Shark Tank Still In Business?
Yes, I Want to Draw a Cat For You, the business that appeared on Shark Tank, is still in business. Steve Gadlin, the creator of the business, pitched the idea on Shark Tank in season 2, episode 3, and received a $25,000 investment from Mark Cuban for 33% of the equity.
After the show, the business became very popular, and Gadlin drew 18,794 custom cats for people through his website. However, in 2017, Gadlin decided to shut down the business.
Despite the shutdown, Gadlin reopened the business in June 2021. The website is now officially taking new orders for $29.95 per drawing. Gadlin seems to be limiting customers to one per day, and demand is high enough that he is booked a year in advance to draw cats.
The drawings are hand-made with a pencil and sketch and take as long as one hour to make 25 drawings, for which they charged $9.95 for each of them.
What Is The Current Valuation Of Cat Drawing Shark Tank?
The current valuation of I Want to Draw a Cat For You Shark Tank is estimated to be around $200,000 to $250,000. During the pitch on Shark Tank, the company’s valuation was $40,000.
After receiving an investment from Mark Cuban, the company’s value increased to $75,758. Cuban invested $25,000 for 33% equity in the company.
Since appearing on Shark Tank, I Want to Draw a Cat For You has received massive popularity, and the number of visitors to its site increased immediately after the show. Steve Gadlin, the founder of the business, received a bunch of new orders after the show.
As of 2021, the company has sold over 21,000 drawings, and its company valuation has grown from $76,000 to approximately $250,000, almost 2.5 times the valuation at the time of the show.
What is his offer on Shark Tank?
Steve was looking for $10,000 for 25% equity in his company, which was worth $40,000.
Did he get the deal?
Yes, he gets the deal from Mark Cuban for $25,000 for 33%. The deal was finalized with a handshake and a dance.
Are his drawings popular?
Yes, the drawings have been selling well. In fact, he was able to run a campaign on Kickstarter to raise money for a new product, The Fart Pedal.
What happened to the business after the show?
Steve launched a Kickstarter for his Fart Pedal in September 2021.
Where is the business based?
The business is located in Chicago, Illinois.
How can I contact him?
One can contact at contact@catdrawing.com.
What has he invented till now?
The artist was rejected by major publishers when he tried to sell them his cartoons. After that, he started promoting his work on tube sites like YouTube and gradually became popular online.
Why do people buy these drawings?
The drawings have been sold online, and then sold in popular retail shops. The cat images are loved because they are unique and fun to look at.
People enjoy the company’s products because they make the viewer laugh, even though they are simple pictures of cats.
How do you draw a simple cat face?
The artist himself has a blog post explaining how to create a simple car drawing.
How many cats have been drawn by Steve?
The artist has been selling the drawings through his website, and he has been able to sell more than 18,000 drawings.
How do you draw a cartoon cat?
Those who want to learn how to draw a cartoon cat can find several tutorials online. The artist has also posted several videos explaining how to create simple car drawings.
Is it a scam?
No, the business is legitimate, and it has sold over 18,000 drawings.
What is the business model?
The business model is very simple. The artist makes money by selling the drawings online, to shops like Amazon and Etsy, for between $4-10 each.
What is a unique product?
The company sells car drawings with a variety of simple designs on real cars. These car drawings are used by motorists to decorate their cars.
How is the website?
The website has a simple layout, and the site’s home page has a mockup of a real car with a cat sitting on top of it.
How does he draw a cat?
The artist follows a simple process to draw a cat: He draws a few lines for the face and then draws the outline of the head.
Then he adds a few more curves to complete the shape of the face. He then adds some ears and a tail.
What is the net worth of Steve Gadlin?
The net worth of Steve Gadlin is $700,000.
