DigiWrap Shark Tank Update | What happened to DigiWrap after the Shark Tank Pitch?
What is DigiWrap? Who is DigiWrap’s founder?
DigiWrap is a start-up company that provides personalized digital printing services for tissue wrapping paper using HP Indigo technology.
They allow customers to upload photos, logos, and artwork with no minimum order size, making it suitable for unique gifts, promotional events, and corporate marketing projects.
The company was founded by Charlie Williams and Brad Boskovic, who previously worked at the family printing firm, Lingraph.
The idea for DigiWrap came about when Brad was asked to copy an artist’s painting on gift wrapping and the customer was so satisfied that they were willing to pay any amount to have it done.
However, after this client stopped ordering from Lingraph, the company was on the verge of going out of business, leading to layoffs and a re-focusing on personalized gift bags and tissue under the new name, DigiWrap.
This proved to be a successful concept, as they were able to secure a partnership with Zazzle and generate sales through their own website.
What happened to DigiWrap at the Shark Tank Pitch?
Charlie and Brad of DigiWrap appeared on Shark Tank season 8 episode 11, seeking an investment of $150,000 for a 10% stake in their company, valuing it at $1.5 million.
They presented the Sharks with personalized gift bags with their faces on them and explained that their company, which specializes in small batches of personalized tissue paper and gift bags, had a sales of $350,000 the previous year and was on track to reach $500,000 this year.
They also mentioned their partnership with Zazzle. However, the Sharks were not interested in their pitch, Robert and Mark believed it would be difficult to expand the company, Barbara did not see a large enough demand for personalized tissue paper, Lori thought that people did not want to spend a lot of money on packaging since they throw it away.
Kevin O’Leary recognized the niche market and offered $150,000 for 50% stake, but the entrepreneurs countered with 20%.
He then lowered his offer to 40% and then 35%, but eventually settled for an agreement of $150,000 for 20% stake in exchange for a 5% per tissue and 10% per bag royalty until $450,000 is returned.
DigiWrap after the Shark Tank Pitch
After appearing on Shark Tank, DigiWrap did not move forward with the deal proposed by Kevin O’Leary. The company is still in business as of May 2021, with an estimated annual revenue of $3 million.
DigiWrap Net Worth
On Shark Tank, Charlie and Brad sought an investment of $150,000 for a 10% stake in their company, valuing it at $1.5 million.
They ultimately accepted an offer from Kevin O’Leary, who invested $150,000 for a 20% stake in DigiWrap, with an additional 5% per tissue and 10% per bag royalty until $450,000 is repaid. This brought the valuation of the company to $750,000.
DigiWrap Competitors
Noissue, Pluspackaging, Wrapturetissue and Lingraph are some of the DigiWrap Competitors.
DigiWrap FAQS
What is DigiWrap?
DigiWrap is a start-up that provides personalized digital printing services, has you covered with personalized tissue wrapping paper made with HP Indigo technology.
Who is the founder of DigiWrap?
DigiWrap was created by Charlie Williams and Brad Boskovic.
How much were they seeking in the Shark Tank?
Charlie and Brad appear on Shark Tank season 8 episode 11 in search of $150,000 for a 10% stake in their company. This translates to a $1.5 million valuation.
Did they get the deal?
Kevin O’Leary invested in DigiWrap.
How much was the deal?
They accept an offer from Kevin of $150,000 for 20% stake plus a 5% per tissue and 10% per bag royalty until the $450,000 is returned which valuation to be $750,000 but it was never completed.
Is DigiWrap still in business?
DigiWrap is still in business as of May 2021, with an estimated $3 million in yearly sales.
Is DigiWrap growing?
DigiWrap appears to be growing and expanding.
Who are the DigiWrap competitors?
Noissue, Pluspackaging, Wrapturetissue and Lingraph are some of the DigiWrap Competitors.
What episode was DigiWrap featured on Shark Tank?
DigiWrap was featured on Shark Tank season 8 episode 11.
What is DigiWrap’s revenue?
DigiWrap has an estimated annual revenue of $3 million.
When was DigiWrap aired on Shark Tank?
DigiWrap was aired on December 9th, 2016
Can they expedite shipping?
Yes. They can choose from a number of FedEx shipping options. Please keep in mind that the time connected with the delivery option they choose does not begin until manufacturing is done.
Are there different tissue sheet sizes?
Yes. There are four different sheet sizes to select from. They can refer to the sizes offered by downloading their Sheet Size Comparison guide.
Can DigiWrap make a design for them?
At the moment, no, however please contact them if they require any assistance with their order.
Can DigiWrap design a sheet for them?
Not at the moment, but please contact them if they require assistance.
Do they ship internationally?
They presently only ship to the United States and Canada. If they are outside of their existing shipping zones but still want to use their services, they may do so through their collaboration with Zazzle.
Is their tissue paper food grade or food safe?
No, their tissue paper is NOT meant to come into close touch with food.
What is the typical turn-around time?
Their typical response time is 3 to 7 business days. Customers provide a 2-day rush option that is applied per product if they want to hasten the processing of their purchase.
Please keep in mind that any orders placed after 12:00 p.m. CST will not be processed until the next business day.
Is there a minimum order?
Yes. The minimum order for their digital tissue paper is two sheets of tissue. Their digital gift bag product has no minimum order quantity.
Is there a shipping cost for their order?
Yes. Shipment costs will vary depending on the amount of their order and the shipping address.
Prior to checking out, they may examine estimated shipping rates in their shopping basket.
What is the net worth of Charlie Williams?
Charlie Williams’s net worth is unavailable.
What is the net worth of Brad Boskovic?
Brad Boskovic’s net worth is unavailable.