Create A Castle Shark Tank Net Worth
Create A Castle Shark Tank Net Worth
Create a Castle is currently in business and has a net worth of $1.75 million. Create a Castle is a company founded by Kevin Lane and Laurie Lane in 2016 that specializes in making sand castles in less time. In an episode of Shark Tank USA (Season 14 Episode 3) that aired on October 7, 2022, the founders asked for $350K for a 10% equity ($3.5 million valuation).
However, Kendra Scott, one of the Sharks, made a counteroffer of $350K for a 20% equity ($1.75 million valuation), which was accepted by the founders.
Create a Castle appeared on Shark Tank Season 14 Episode 3 and asked for $350k for a 10% equity at a $3.5 Million Valuation. The company makes castle-building kits for kids that work in both sand and snow.
They made a deal with Kendra Scott for $350,000 for 20% equity.
Create a Castle’s founders Kevin Lane and Laurie Lane have a net worth of $1.4 million as of 2022. The company has an average review rating of 4.3 from over 540 Amazon reviews.
Although the company is profitable, it could not make a profit due to the pandemic but was expected to make a profit of $300k in 2022.
Despite this setback, Create a Castle is on track to be an industry leader in its niche and is expected to receive a huge boost in orders from fans after appearing on Shark Tank.
What Is Create A Castle Shark Tank And Who Founded Create A Castle Shark Tank?
Create A Castle is a sand-and-snow castle-building toy line that was pitched on Shark Tank by co-founders Kevin and Laurie Lane.
Create A Castle was founded by Kevin and Laurie Lane in June 2017. Despite being newcomers to the toy industry, they won the incredible 2020 Toy of the Year (TOTY) Award for their creation.
The couple appeared on Shark Tank Season 14, where they asked for $350,000 for 10% equity in their business.
They came away with a $350,000 offer for 20% of the business from Kendra Scott. Create A Castle is a tactical sensory toy set for kids with 25 pieces including reusable Castle Magic Sand, castle casts, building tools, storage case, and play-mat.
Kevin Lane got the idea for Create A Castle while on a beach vacation in California back in 2016. He watched as a frustrated dad and son’s sand castles kept crumbling.
As an established web developer who was also an avid sand sculptor, he believed that if you could make the often frustrating experience of building sand castles with your family easier and more fun, people would buy it.
What Happened To Create A Castle At Shark Tank?
Create a Castle is a product that makes beach life fun and entertaining. It is a unique and innovative product that allows kids and adults to build sandcastles easily.
Kevin Lane, the founder of Create a Castle, got the idea for his invention while on a beach vacation in California back in 2016.
He watched as a frustrated dad and son’s sand castles kept crumbling. Kevin spent hours building elaborate sand castles and realized it was impossible to build quality sand castles with the standard “fill and flip bucket”.
Create a Castle appeared on Shark Tank Season 14 Episode 3, asking for $350k for a 10% equity at a $3.5 Million Valuation. The sharks were impressed with the product but called out Create a Castle for being a seasonal summer-based product.
However, Kevin came prepared with an answer – the castle-building kits don’t only work on the beach during summertime, they also work in the snow during wintertime. The sharks were very impressed that there were multiple ways to build castles in the sand and snow.
After getting investment from Kendra Scott on Shark Tank, Create A Castle became available on HSN Online Platform in November 2022.
However, due to the pandemic, Create A Castle could not make any profit but expected to make $300k profit in 2022. As of March 2023, it is unclear whether Create A Castle is still in business or not.
What Happened To Create A Castle After Shark Tank?
Create a Castle is a company that appeared on Shark Tank Season 14 Episode 3, asking for $350k for a 10% equity at a $3.5 Million Valuation. The product is a castle-building kit for kids that can be used to build sand or snow castles easily and quickly.
The sharks were impressed with the product and Kendra Scott made an offer of $350,000 for 20% equity, which was accepted by the entrepreneurs.
After appearing on Shark Tank, Create a Castle received positive feedback from viewers and experienced a short-term boost in sales.
The company’s products became available on HSN Online Platform in November 2022. As of March 2023, Create a Castle is still in business and its products can be found on its official website, Amazon, and various stores including Dick’s Sporting Goods.
Is Create A Castle Still In Business?
Yes, Create a Castle is still in business as of November 2022. The company was founded by Kevin and Laurie Lane in 2017 after they designed a range of castle molds that can be opened on the side after being filled with sand or snow.
The molds are extremely durable and can be split apart on their hinge, making construction easy, fun, and detailed. Create A Castle provides a complete castle-building kit that makes construction easy for anyone to build a huge castle using this bucket whether he is an expert or not.
Create A Castle appeared on Shark Tank on October 7, 2022, and got a deal with Kendra Scott. The company has an average review rating of 4.3 from over 540 Amazon reviews and is worth an estimated $2 million as of 2023.
At present, apart from being sold on Create A Castle’s official website and Amazon, the kits can be found in various stores including Dick’s Sporting Goods.
Although the pandemic affected the company’s profitability, the entrepreneur said they would make a profit of $300k in 2022. The net worth of Create a Castle is $0.5 million as of November 2022.