Enso Rings Shark Tank Net Worth 2023
Enso Rings Shark Tank Net Worth
Enso Rings is a silicone ring business founded by Brighton Jones and Aaron Daly in 2016. As of February 21, 2023, the estimated net worth of the company is $20 million.
The company has sold over 2 million rings in 80 countries since appearing on Shark Tank in 2017. Immediately after the episode aired, Enso Rings sold $2 million worth of product.
In 2017, Enso Rings appeared on season 9 of Shark Tank and asked for a $500,000 investment with a 7.5% stake in the company.
Robert Herjavec offered $500,000 for 15% equity and the deal went through. After their Shark Tank episode aired, Enso Rings made $2 million in sales according to SharkTankRecap.com.
In 2019, Enso Rings made $23.9 million in revenue but no recent sales figures have been released. In 2020, Enso Rings ranked No. 316 on the 2020 Inc. 5000 list of fastest-growing private companies in the US.
What is Enso Rings? Who Founded Enso Rings?
Enso Rings are a one-of-a-kind alternative for traditional metal rings. Brighton Jones and Aaron Daly are the founders of the company..
Silicone wedding and engagement rings are ideal for individuals who lead an active lifestyle due to its flexible and resilient construction.
Enso Bands are more colourful, trendy, comfortable, affordable, and far safer than typical metal wedding rings.
The silicone rings are squishy and rubbery, yet stylish.
The major reason for adopting silicone is to avoid ring avulsion, which is the unsightly and sometimes disfiguring condition of metal rings being trapped on something and tearing your finger off.
The rings are an excellent replacement for metal rings. These sorts are a good alternative, especially for individuals who lead an active lifestyle, and they are ideal for nurses, firemen, and members of the military.
Enso Rings Shark Tank Pitch
They used the funds from their Kickstarter campaign to buy inventory, tools, shipping, and engraving supplies.
Based on comments from backers, their product was delivered with minimal issues. However, they are seeking the help of a Shark to improve their inventory levels and marketing.
Brighton and Aaron entered the Tank and pitched their company, offering 7.5% ownership for $500,000, valuing their company at $6,666,666.66.
They demonstrated the dangers of ring avulsion and showcased their Enso Rings, which range in price from $11.99 to $39.99 and cost between 70 cents and $4 to produce.
They made $3.8 million in sales in the past 18 months and expected to make $5 million the following year, with $460,000 in sales in the previous month, 40% of which went to marketing.
Mark believed that they were primarily a marketing firm that stumbled upon a product, and he declined to invest. Lori thought that the competition was too fierce, and Barbara didn’t think that fashion and safety could be combined, so both of them declined to invest as well.
Robert offered $500,000 for a 20% stake, while Kevin proposed a $500,000 loan with a $2 royalty per unit until he recouped $1.5 million for a 5% stake.
Aaron countered Robert with 10%, and Robert went up to 15%, with Aaron finally settling for a 12.5% stake, agreeing to Robert’s offer. However, the deal with Robert was never finalized.
In the weeks after the show aired, they sold $2 million worth of rings and processed 500 orders every day. They eventually sold their 2 millionth ring in the spring of 2019, and their products were sold in over 80 different countries.
They also expanded their product line, introducing a birthstone ring collection and producing limited edition rings regularly. All of their rings are handcrafted in their facility in Lehi, Utah.
As of August 2020, Enso Rings ranked No. 316 on the Inc. 5000 list of the fastest-growing private firms, with a three-year revenue growth of 1442.73%. As of June 2021, the company had made a whopping $24 million in sales and continues to thrive.
Enso Rings Shark Tank Table Summary:
|Company Name||Enso Rings|
|Founded by||Brighton Jones and Aaron Daly|
|Product||Silicone rings as a safer alternative|
|Shark Tank Season||9|
|Shark Tank Deal||$500,000 for 15% stake from Robert|
|Revenue (2019)||$23.9 million|
|Estimated net worth||$20 million|
|Competitors||QALO, Groove Life, Apples, ShenoaDiamonds, BlingJewelry, Tateossian, Jewelry Vortex, and Jewelry Days.com|
|Equity Offered on Shark Tank||7.5%|
|Valuation on Shark Tank||$6,666,666.66|
|Shark Who Invested||Robert Herjavec|
|Equity Stake Given to Shark||15%|
|Sales Figures (2019)||$23.9 million|
|Competitors||QALO, Groove Life, Apples, ShenoaDiamonds, BlingJewelry, Tateossian, Jewelry Vortex, Jewelry Days.com|
|Update||Enso Rings saw an immediate uptick in customers after airing, earning $2 million from 60,000 orders. As of April 2019, Enso Rings had sold more than…|
Enso Rings Net Worth
At the Shark Tank, Enso Rings was valued at $6,666,666.66 by the owners and accepted a deal from Robert of $500,000 for 15% stake which shows a valuation of $3,333,333.33.
Enso Rings Competitors
Enso does have many competitors. This includes; QALO, Groove Life, Apples, ShenoaDiamonds, BlingJewelry, Tateossian, Jewelry Vortex, and Jewelry Days.com.
Enso Rings Shark Tank Update
Enso Rings appeared on Shark Tank in Season 9, Episode 2, where Brighton Jones and Aaron Dalley pitched their silicone wedding rings as a safer alternative to traditional metal wedding bands.
The rings are designed to break away when caught on something to protect the wearer’s finger from injury. During the pitch, Jones held up a metal wedding ring and referred to it as a “Finger Amputation Device”.
The sharks were impressed with the product and its potential to address a significant issue, with over 150,000 people per year either losing their fingers or severely injuring them due to traditional wedding rings.
After the episode aired, Enso Rings saw an immediate uptick in customers, earning $2 million from 60,000 orders. As of April 2019, Enso Rings had sold more than 2 million rings in more than 80 countries.
The company continues to grow, with a range of product offerings, including silicone bracelets and Disney character bands. Enso Rings has won many online awards for its product and was recognized as the fastest-growing business.
The company has not appeared on Shark Tank since Season 9, and there is no update on whether they will return to the show in the future.
What Happen To Enso Rings After Shark Tank?
Enso Rings is a company that produces silicone rings as an alternative to metal wedding bands. The founders, Brighton Jones and Aaron Dalley launched a Kickstarter campaign for Enso Rings after Jones suffered a ring avulsion injury during a rock-climbing trip.
Enso Rings appeared on Shark Tank in Season 9, Episode 14, and asked for a $500,000 investment with a 7.5% stake in the company. Robert Herjavec invested $500,000 for a 15% stake in the business.
After the Shark Tank episode aired, Enso Rings saw an immediate uptick in customers, earning $2 million from 60,000 orders. The company continues to grow in both sales and product offerings.
At the time of the most recent update, Enso Rings had an estimated net worth of over $20 million. The company has won many online awards for its product and has been recognized as the fastest-growing business.
Enso Rings now offer not only rings but also silicone bracelets on their website, including some with Disney characters. The rings are designed to break away when caught on something to protect the wearer’s finger from injury.
Enso Rings has become a popular choice for those looking for a unique and safer way to show their commitment.
How Have Enso Rings Grown Since Appearing On Shark Tank?
Enso Rings, a company that offers silicone rings as a safer alternative to metal wedding bands, has experienced impressive growth since its appearance on Shark Tank. The company has sold more than 2 million rings in over 80 countries, with an estimated net worth of over $20 million.
Enso Rings has won numerous online awards and has been recognized as the fastest-growing business. The company was founded by Brighton Jones and Aaron Dalley, who launched a Kickstarter campaign after Jones suffered a ring avulsion injury during a rock-climbing trip.
Enso Rings are made of proprietary silicone and are designed to break away if caught on something to prevent injury to the wearer’s finger. The company has expanded its product line to include silicone bracelets, some of which are themed with Disney characters.
During their appearance on Shark Tank, Enso Rings received a $500,000 investment from Robert Herjavec in exchange for a 15% stake in the company.
What Was The Sharks’ Reaction To Enso Rings’ Pitch?
Enso Rings made a successful pitch on Shark Tank, with the Sharks impressed with the safety, affordability, and comfort of their silicone rings.
The co-founders requested $500,000 for 7.5% equity, and after a bidding war, Robert Herjavec offered $500,000 for 15% equity, which they accepted. The Sharks were enthusiastic about the benefits of silicone rings.
Following the airing of the Shark Tank episode, Enso Rings saw an immediate increase in sales, receiving 60,000 orders and generating $2 million in revenue.
As of April 2019, the company has sold over 2 million rings in more than 80 countries and has expanded its product offerings to include silicone bracelets, which are available on its website.
Enso Rings has received multiple online awards for their product and has been recognized as the fastest-growing business.
What Is The Story Behind The Founding Of Enso Rings?
Enso Rings is a company founded by Brighton Jones and Aaron Dalley, childhood friends who came up with the idea after Jones almost lost a finger when his metal wedding ring got caught on a rock.
They wanted a modern alternative that was fashionable, safe, and comfortable, which led them to experiment with different materials until they found that silicone was a perfect choice.
In 2015, they launched a Kickstarter campaign that raised $15,324 to fund their business, and in 2016, they won a $500,000 deal on Shark Tank with Robert Herjavec.
Enso Rings are soft, rubbery, fashionable, silicone rings that are a safer and more practical alternative to traditional metal rings. They are relatively inexpensive and ideal for people who work with their hands or enjoy sporting activities.
Enso Rings is committed to being a brand that is both stylish and functional, incorporating a Zen Buddhist symbol called an Enso in its logo, which symbolizes enlightenment, strength, and the oneness of life.
They have expanded their product line to include metal-infused silicone rings, which are the first of their kind.
What New Products Have Enso Rings Released Since Shark Tank?
Enso Rings, a company that specializes in silicone rings, appeared on Shark Tank in 2017 and secured a deal with Robert Herjavec for a 15% stake in their business for $500,000.
Since then, Enso Rings has continued to grow and expand its product line. In the spring of 2019, they sold their 2 million rings and sold rings in more than 80 countries.
Enso Rings has introduced new products since appearing on Shark Tank. In 2018, they released new rings and collaborations through their Rings for a Reason Program. They have also expanded their product line to include bracelets and other accessories.
Additionally, Enso Rings has partnered with organizations such as the American Nurses Association to create custom rings and donate a portion of sales to charity.
Enso Rings has also launched a birthstone line of rings. They have also introduced Disney and Star Wars lines of rings that are loved by their customers.
Enso Rings continues to be a popular choice for those looking for a soft, rubbery, stylish, and fashionable ring that can protect their fingers from ring avulsion.
What became of Enso Rings after the shark tank?
Enso Rings reported an instant increase in consumers after the Shark Tank show aired, generating $2 million from 60,000 orders.
And the firm is still expanding, both in terms of revenue and product options. Enso Rings have sold over 2 million rings in over 80 countries as of April 2019.
Is it true that Enso Rings landed a contract on Shark Tank?
They entered the Tank hoping to receive a $500,000 investment in return for 7.5 percent equity. They struck a deal with Robert Herjavec: $500k in exchange for 15% of the company.
What is the appeal of Enso Rings?
Wearing an Enso Ring at work is a considerably safer option, especially for those who work in construction, healthcare, or manufacturing.
Enso Rings are intended to resist harsh working conditions and are easier to maintain than standard rings.
Are Enso Rings made in the USA?
Enso ring is made in the USA
Who owns Enso Rings?
Brighton Jones and Aaron Daly own Enso Rings.
Where is Enso Rings located?
Enso Rings is located in Lehi, Utah.
When did Enso Rings start?
They started the business in late 2015 with a Kickstarter campaign that raised $15,324.
Do Enso Rings fade with time?
Our rings are made to endure a long time, but if they do break, Enso offers a lifetime warranty.
Are Enso Rings long-lasting?
Under normal circumstances, silicone rings are extremely resilient and will not break.
Is it true that silicone rings expand with time?
Silicone may, and frequently does, stretch. It will adapt to your finger size after a few days of wearing it. Of course, you’ll want to ensure that your silicone ring band isn’t too tight.
How they you know if their silicone ring is strong and durable?
Enso recommends checking for webbing in the lab, which is a common sign of bending. If there is webbing, it’s time to make a new Enso ring.
Can I wear Enso Rings when swimming?
Enso Rings are suited to wear in the shower or pool. They are made to withstand water immersion for up to 15 minutes.
Do Enso Rings smell?
Yes, our rings smell like chocolate but that smell will fade after a few days of constant use.
How much do Enso Rings cost and where to buy?
Our rings come in a variety of retail prices, depending on the size and style. We carry rings ranging from $11.99 to $39.99
What are Enso Rings made of?
Enso ring is made of Pure Medical Grade Silicone.
Does Enso Rings make custom rings?
Yes, they make custom rings
Where can you buy an Enso Ring?
You can buy Enso Rings on their official website.
Are Enso Rings vegan?
Enso rings are Vegan and Cruelty-Free.
Are Enso Rings good for people with big fingers?
Enso Rings bands are available in different sizes to suit all size fingers. So, no matter how big your finger, you should find a suitable fit.
Is Enso Rings a scam?
Enso Rings is a real business. They have been in business for over 3 years. They have made over $3 million in sales in the last 18 months.
Which season of Shark Tank was Enso Rings aired?
They were on episode 14 season 9.