Do Amore Shark Tank Net Worth-What Happened After Shark Tank?

What is Do Amore Shark Tank’s Net Worth?

Krish Himmatramka is the founder of Do Amore, a Houston-based startup that sells engagement and wedding rings directly to consumers while contributing to clean water projects.

Krish entered the Shark Tank seeking $600,000 for 6% of his business giving an estimated net worth valuation of about $10 million.

Later, Daniel Lubetzky offered $600,000 for 15% of the company’s equity reducing the company valuation to an estimated $4 million.

In terms of revenue, Do Amore made $8.3 million in sales in 2020 and projected $11.5 million in sales for 2021. As of June 2021, the company had made $5.2 million in sales so far that year. In 2020, Krish netted a little less than $100,000 but had already netted $460,000 by June 2021.

Reports show that Do Amore’s net worth before appearing on Shark Tank was $10 million (business valuation), and its current net worth in 2022 is more than $4 million. Krish Himmatramka has a net worth of $10.8 million as of 2022.

What Is Do Amore And Who Founded Do Amore?

Do Amore is a direct-to-consumer wedding ring company that offers ethical, handcrafted engagement and wedding rings. The company was founded by Krish Himmatramka in 2013 with $18,000 of his own money.

Do Amore’s rings are made in the USA from recycled precious metals, as well as diamonds and gemstones that are conflict-free and ethically sourced.

The company is committed to positive social change and ethics, with each ring purchased providing clean water to a community through its partner Charity: water.

Krish Himmatramka started Do Amore because he believed that symbols of love should never come with questions of ethics.

He wanted to create a company that could help address both the issue of conflict diamonds and the lack of access to clean water in developing countries. As of 2023, Do Amore has already delivered clean water to over 3,500 people in 14 communities.

In addition to wedding and engagement rings, Do Amore also sells “regular” rings, earrings, and necklaces. They also make jewelry with man-made diamonds created in a laboratory. In 2020, the company did $8.3 million in sales and projected $11.5 million in sales for 2021.

What Happened To Do Amore At Shark Tank?

On a Shark Tank episode that aired on March 18, 2022, Mark Cuban declined Do Amore’s offer for $600,000 in exchange for 6% of the company.

Cuban was impressed by Do Amore’s revenue and philanthropy but thought any engagement ring company could start donating a percentage of sales to charity, negating Do Amore’s competitive advantage.

Kevin O’Leary offered $600,000 for 6% of the company with a $100 royalty on each sale until he made back three times his investment. Lori Greiner advised Himmatramka to take the offer, noting O’Leary’s experience in the wedding industry.

After Shark Tank, Do Amore expanded its product line to include earrings, necklaces, and milestone jewelry. The company also received an investment of $600,000 from Kevin O’Leary for 15% equity.

In 2021, eight years after launching in 2013, Do Amore brought in $11.5 million in revenue and made $26 million in lifetime jewelry sales.

What Happened To Do Amore After Shark Tank?

Do Amore, a company that sells ethically sourced engagement rings and uses the profits to build wells for communities in need, appeared on Shark Tank Season 13 seeking for $600,000 in exchange for 6% equity.

initially, Kevin O’Leary offered $600,000 for 6% of Do Amore with a $100 royalty on each sale until he made back three times his investment.  Robert Herjavec invested $600,000 in this startup in exchange for 15% equity.

Since appearing on Shark Tank, Do Amore has grown and expanded. The company focuses on providing excellent customer service and being the “no-brainer” option when it comes to choosing an engagement ring store.

Despite crashing their site within minutes of airing on Shark Tank due to massive interest, Do Amore continues to be successful.

Is Do Amore Still In Business?

Yes, Do Amore is still in business. The company was founded by Krish Himmatramka in 2013 with the mission to provide ethically sourced engagement rings and to help build wells to provide clean water to communities in need.

Since then, the company has expanded its offerings to include earrings, necklaces, milestone jewelry, and man-made diamonds that are created in a laboratory. All of their products are made from recycled precious metals and sustainable materials.

Do Amore has been profitable since its inception and has experienced significant growth. In 2020, the company generated $8.3 million in sales, and it projected $11.5 million in sales for 2021.

Despite being rejected by Mark Cuban on Shark Tank due to potential competition, Do Amore continues to thrive as a sustainable and competitive business.

Customers can purchase Do Amore jewelry on their official website at prices ranging from $250 to $50,000 depending on their budget.

In summary, Do Amore is still in business and continues to offer ethically sourced jewelry made from recycled precious metals and sustainable materials while also helping build wells to provide clean water to communities in need.