Ecoflower Shark Tank Net Worth 2023
According to the search results, Eco Flower’s net worth is currently unknown as the company went out of business in 2018. Before appearing on Shark Tank, Eco Flower had a net worth of $4 million USD.
During her appearance on Shark Tank, Meagan Bowman was looking for $400,000 for a 10% stake in her company, which indicated a valuation of $4 million. She accepted an offer from Daymond John.
After Daymond John bought Eco Flower, the company’s other investors decided to hire a new CEO. As a result, Meagan Bowman decided to leave the company.
JW Capital eventually became a 50% owner of Eco Flower and later acquired the rest of the company. However, the company mistreated employees and eventually closed after failing to meet orders.
What is EcoFlower? Who Founded Ecoflower?
EcoFlower was a company that designed and manufactured flowers using ecological and recyclable materials, particularly wood. It was founded in 2013 by Meagan Bowman, a Utah native.
Before starting the company, Meagan managed French Kiss Fitness where she oversaw tasks such as hiring, scheduling, social media, marketing, and payroll.
In 2013, she left her position to work for Better City LLC, an economic development firm, where she was responsible for tasks such as retail recruiting, data analysis, small business growth, and community development.
While still working part-time at Eco Flower, Meagan went on vacation and came across a wooden flower.
Tired of fresh flowers fading and being thrown away, she was inspired to create her own line of natural flower alternatives using recycled materials.
Meagan made it a priority to appear on the show Shark Tank and after four attempts, she was finally selected to present Eco Flower to the Sharks. She eventually transitioned to working full-time on her business after gaining enough traction.
EcoFlower Shark Tank Pitch
Each bouquet incorporates scents and the flowers have a long-lasting lifespan. Bouquets are priced between $39 and $59, while a centerpiece costs $139.
Despite being comparable in cost to fresh flower bouquets, they are not temporary. Bowman’s Utah-based company operates out of an 8,000-square-foot warehouse and employs 30 floral designers, but is in desperate need of cash.
Meagan enters Shark Tank seeking $400,000 for a 10% stake in her company, indicating a valuation of $4 million. She tells her story, explaining that people want flowers that last longer than fresh ones.
She presents each Shark with a bouquet, impressing them. Robert asks what Lori and Barbara would think of a wooden flower bouquet.
Barbara expresses her desire to feel valued like a real flower, and Lori agrees. The Sharks are impressed with the financials, with Meagan generating $2.8 million in sales in a year and a half.
A regular bouquet costs around $59, and the company averages $6,000 to $13,000 in sales per day. Meagan requires help with production and states that 75% of the company is owned by investors.
When Kevin asks about the risk of being wiped out by a Shark investment, she responds that each shareholder would contribute a fraction of their shares.
Robert declines to invest, stating that Meagan lacks control over the company.
Barbara, who enjoys fresh flowers and spends a lot of money on them, is no longer on the show. Lori agrees with Barbara’s sentiments and emphasizes that she invests in businesses she is passionate about.
Mark declines to invest, stating that this is not his area of expertise. Kevin also passes, citing diluted ownership.
Meagan secures a deal with Daymond John for $400,000 in exchange for a 20% stake, valuing the company at $2 million, but the agreement falls through.
Before the episode airs, one of the three partners voluntarily departs the business, surprising both viewers and Sharks.
Meagan now owns 33% of the company, while the other two owners (a Venture Capital firm) own 66%, giving her less say in the company.
She gives a detailed account of her departure from the firm she founded. The company eventually closes its doors in April of 2018, about a year and a half after Meagan left.
Fortunately, Meagan founded Sola Wood Flowers, which has no debt, no cash-draining partners, and strong sales. As of May 2021, Sola has $5 million in annual revenue and is doing well.
Table: EcoFlower Shark Tank Summary
| EcoFlower | |
| Net Worth | Unknown |
| Pre-Shark Tank | $4M USD |
| Valuation | $4M USD |
| Seeking | $400K for 10% |
| Deal | $400K for 20% with Daymond John, but fell through |
| Competitors | Out of business |
| Founder | Meagan Bowman |
| Founded | 2013 |
| Product | Natural flower alternatives using recycled materials |
| Sales | $2.8M in a year and a half |
| Employees | 30 |
| Owner | JW Capital eventually became 100% owner, but company closed |
| New Company | Sola Wood Flowers, $5M in annual revenue (as of May 2021) |
EcoFlower Net Worth
Meagan is looking for $400,000 for a 10% stake in her company.
This indicates a valuation of $4 million. She accepted an offer from Daymond of $400,000 for 20% stake, thus bringing the valuation to be $2 million, but it fell through.
EcoFlower Competitors
Ecoflower Updates
Eco Flower is a company that appeared on Shark Tank Season 8 and landed a deal with Daymond John. The company uses recycled materials to create lasting arrangements that come in a variety of scents.
However, after the show, the company failed to meet orders and was mistreating its employees, eventually shutting down. The CEO of Eco Flower is even rumored to be wanted for questioning by the FBI.
After leaving Eco Flower, Meagan Bowman started a new company called Sola Wood Flowers, which she stated was thriving in 2020. Sola Wood Flowers uses sustainable materials to create beautiful arrangements.
Bowman’s sales increased after her appearance on Shark Tank, and the growth provided more jobs and opportunities.
In summary, Eco Flower faced significant issues after its appearance on Shark Tank, including failing to meet orders and mistreating employees, eventually leading to its shutdown.
However, Meagan Bowman, the founder of Eco Flower, started a new company called Sola Wood Flowers, which is thriving and uses sustainable materials to create beautiful arrangements.
EcoFlower FAQS
What Is Ecoflower?
Eco Flower is a flower business that uses recycled and sustainable materials to create exquisite flower bouquets. The founder, Meagan Bowman, started the business in her home using bamboo, twine, dried roots, and other reused and recycled items.
The flowers are scented and last forever. The prices range from $39 to $59 for bouquets and $139 for a centerpiece.
Meagan Bowman appeared on Shark Tank in 2016 to get an investment for Eco Flower. She asked for $400,000 for 10% equity but ended up accepting $400,000 for 20% equity from JW Capital.
After the show, Bowman left Eco Flower and started a new company called Sola Wood Flowers. In 2020, she stated that the business was thriving.
Eco Flower faced issues after Bowman left the company. The company struggled to stay in business and went from employing over 100 people to less than a dozen.
It was tied up in court with the Utah Consumer Protection Agency, and there was even a rumor that the CEO was wanted for questioning by the FBI.
In summary, Eco Flower is a flower business that uses recycled and sustainable materials to create exquisite flower bouquets.
The founder, Meagan Bowman, left the company after appearing on Shark Tank and started a new company called Sola Wood Flowers, which is thriving. Eco Flower faced issues after Bowman left the company and eventually shut down.
How Does Ecoflower Works?
Eco Flower is a sustainable flower business that uses bamboo, twine, dried roots, and other reused and recycled items to create exquisite sola wood flower bouquets and centerpieces. Each bouquet has infused scents and the flowers last forever.
The founder of Eco Flower, Meagan Bowman, appeared on Shark Tank seeking $400,000 for 10% of her business. She started the business in her home and used to sell flowers at local dance competitions as a teenager.
After graduating high school, she went in another direction, but her father asked her to give wood flowers another try ten years later, and Eco Flower was born.
After Bowman appeared on Shark Tank, her sales increased, and the growth provided more jobs and opportunities. However, behind the scenes, there were issues, and Bowman left Eco Flower to start another company called Sola Wood Flowers.
In 2018, Eco Flower closed its doors, and the website remained active. Since its closing, Eco Flower has been tied up in court with the Utah Consumer Protection Agency, and there is even a rumor that the CEO is wanted for questioning by the FBI. On the other hand, Sola Wood Flowers was thriving in 2020.
What Happened To Ecoflower After Shark Tank?
Eco Flower is a company that creates floral arrangements using bamboo, twine, dried roots, and other reused and recycled items. The founder, Meagan Bowman, appeared on Shark Tank in November 2016 and received an offer from Daymond John for $400,000 in exchange for 20% equity.
However, after the show, one of her partners left the business, and Meagan was left with 33% ownership. The company struggled to stay in business and went from employing over 100 people to less than a dozen.
Despite having sales of $2.8 million in just 1.5 years, Eco Flower could not sustain itself and had to shut down in April 2018.
After leaving Eco Flower, Meagan started a new company called Sola Wood Flowers, which is doing well as of 2021. Eco Flower, on the other hand, has been tied up in court with the Utah Consumer Protection Agency, and there are rumors that financial crimes were being committed.
The company failed to meet orders and was mistreating its employees, which led to its eventual shutdown.
What Is The Current Valuation Of Ecoflower?
The current net worth of Eco Flower is unknown as the company went out of business in 2018[2]. Before appearing on Shark Tank, Eco Flower had a net worth of $4 million USD.
Meagan Bowman, the founder of Eco Flower, was seeking a minimum investment of $400,000 for her 10% stake in the business, which indicated a valuation of $4 million.
She accepted an offer from Daymond John of $400,000 for a 20% stake, which brought the valuation to $2 million, but the deal fell through.
Eco Flower was a flower design and manufacturing company that specialized in floral bouquets built entirely of ecological and recyclable materials, most notably wood. The company’s bouquets were made from book pages, brooches, burlap, music sheets, pallet wood, pine cones, and sola wood.
These wooden and recycled flowers were infused with scents and designed to last forever. Eco Flower’s bouquets cost between $39-$59, and a centerpiece would set you back $139. The company operated from Utah.
After Eco Flower went out of business, Meagan Bowman started a new enterprise called Sola Wood Flowers, which also offers eco-friendly flowers made from sustainable resources. Sola Wood Flowers carries arrangements and events like weddings and others.
Is Ecoflower Still In Business?
Eco Flower was a company that designed and manufactured floral bouquets using ecological and recyclable materials, particularly wood. The company was founded in 2013 by Meagan Bowman, a Utah native.
After Bowman appeared on Shark Tank in November 2016, she made a deal with Daymond John for $400,000 in exchange for 20% equity. However, the deal fell through, and full ownership of Eco Flower was acquired by investment company JW Capital in January 2017.
After Bowman left the company, Eco Flower began to have trouble fulfilling orders, and unhappy customers began posting negative comments on Yelp and the Better Business Bureau. In March 2018, former employees announced on Facebook that Eco Flower had closed its doors for good.
Despite having sales of $2.8 million in just 1.5 years, the company could not sustain itself.
In summary, Eco Flower is no longer in business. The company faced multiple challenges, including customer service issues, order fulfillment problems, and internal disputes, which led to its closure in April 2018.
After the shark tank, what happened to EcoFlower?
Eco flower is no longer in business, which is unfortunate (or fortunate for some).
Following the forced departure of Meagan and another partner, JW Capital, the investment firm that owned 50% of the company, purchased the remaining half of Eco Flower.
JW Capital is led by Ryan Westwood and Travis Johnson, according to Crunchbase.
Did eco flower go out of business?
EcoFlower was fully acquired by investment firm JW Capital in January 2017, and Bowman moved on to seek new business opportunities.
Former employees announced the closure of EcoFlower on Facebook on March 22, 2018.
Where is Meagan Bowman?
She created a new company called Sola wood flowers shortly after leaving EcoFlower in 2016. She have been in operation for two years.
Who owns eco flower?
JW Capital, LLC has a majority ownership stake in Eco Flower.
Who founded EcoFlower?
Meagan Bowman
Is it safe to purchase Sola wood flowers?
Great product that was simple to apply and produced beautiful flowers. The flowers arrived cracked or damaged, which was a little irritating. Overall, I’d suggest it and plan to use it again in the future.
Can they buy EcoFlower?
EcoFlower is no longer producing flowers.
How much were EcoFlower worth?
Meagan Bowman, founder of EcoFlower, was seeking a minimum investment of $400,000 for her 10% stake in the business. This shows a valuation of $4 million.
What type of trees do they use in their production?
They use hardwoods including birch, pine cones and ferns.
Does EcoFlower buy wood for their production?
Yes, they purchase the wood from local eco companies that create pieces from trees that have been harvested.
They use hardwoods including birch, pine cones and ferns.
What were strengths did they have?
They had several great qualities, the greatest strength was that they were committed to making the most realistic looking flowers on the market.
What were some of the weaknesses?
The biggest weakness was that they did not have much experience with handling customers.
They did not have an effective marketing campaign and relied heavily on word-of-mouth advertising to get the word out.
They also had limited financial backing from their investors, which contributed to their limited sales volume.
How would they improve them?
Out of business
What is net worth of Meagan Bowman?
Unknown.
What is EcoFlower?
EcoFlower was a firm that created and sold flower arrangements made entirely of sustainable and recyclable materials, most notably wood.
What are the best benefits of EcoFlower?
The benefits of EcoFlower are: biodegradable, 100% recycled and sustainable materials, no pesticides or harsh chemicals used during growth of plants or flowers, clear vases and trays for easy viewing of arrangements, no watering needed for the duration of their arrangement’s life.
