Eve Drop, a Christmas lights hanging product, entered the Shark Tank in 2014 during Season 6. Despite its innovative concept, the Sharks were not interested in investing, resulting in no deal. At the time of their pitch, Eve Drop had a net worth of $375,000 based on a $75,000 offer for 20% equity. However, the company eventually went out of business in 2017.
Key Takeaways:
- Eve Drop appeared on Shark Tank Season 6 but did not secure a deal.
- The net worth of Eve Drop at the time of their pitch was $375,000.
- Eve Drop went out of business in 2017.
Eve Drop Founders and Key Accomplishments
Eve Drop, the Christmas lights hanging product, was founded by Nathan Schaffer. Nathan, currently a real estate agent, launched Eve Drop with an unknown date of establishment. Although the product did not secure a deal on its appearance on Shark Tank, it experienced a surge in popularity and sales after the show.
To stock Eve Drop in retail stores, Nathan invested $30,000 in inventory and had pre-orders of $3,500. As of February 2022, the company reportedly generated $1 million in yearly sales. However, it is worth noting that Eve Drop went out of business in 2017.
Despite the unfortunate closure, Nathan’s entrepreneurial journey with Eve Drop showcases his resilience and ability to generate significant sales. Now focused on his real estate career, Nathan has left behind a memorable legacy in the world of Christmas lights hanging products.
Eve Drop Success:
- Surge in popularity and sales after appearing on Shark Tank
- Investment of $30,000 in inventory and pre-orders of $3,500
- Reported $1 million in yearly sales as of February 2022
While there are no current updates on Nathan Schaffer’s entrepreneurial ventures, his accomplishments with Eve Drop highlight his determination and ability to navigate the business landscape.
| Eve Drop Founders | Nathan Schaffer |
|---|---|
| Founder’s Occupation | Real Estate Agent |
| Date of Company Launch | Unknown |
| Total Investment | $30,000 |
| Pre-orders | $3,500 |
| Yearly Sales (as of February 2022) | $1 million |
Eve Drop Pitch on Shark Tank
In his Shark Tank pitch, Nathan Schaffer presented Eve Drop, a Christmas lights hanging product, to the panel of Sharks. He sought a $75,000 investment in exchange for a 20% equity stake in the company, valuing Eve Drop at $375,000.
Nathan demonstrated the functionality and benefits of Eve Drop, showcasing its ease of use and time-saving features. However, despite his efforts, none of the Sharks expressed interest in investing in the product.
During the pitch, Nathan mentioned that the majority of the sales were generated through a successful Kickstarter campaign. This fact, combined with the sales figures presented, did not impress the Sharks. Despite the lack of investment on the show, Eve Drop experienced a surge in sales and secured retail deals with Ace Hardware, Do It Center, and True Value post-Shark Tank.
Table: Eve Drop Shark Tank Pitch Details
| Investment Sought | Equity Stake Offered | Valuation |
|---|---|---|
| $75,000 | 20% | $375,000 |
Despite the initial success, Eve Drop faced challenges in the following years. The company website closed in 2016, and it is currently only possible to purchase a selection of Eve Drop products from Amazon. The current net worth of Eve Drop is unknown, as the company went out of business in 2017, and Nathan Schaffer decided to pursue a career in real estate.
Eve Drop After Shark Tank
After appearing on Shark Tank, Eve Drop experienced a significant boost in popularity and sales. The exposure from the show resulted in a surge of website traffic and a substantial increase in online orders. However, with this sudden growth came a new set of challenges for the company.
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Eve Drop had to quickly adapt and efficiently manage its supply chain to meet the sudden surge in demand. Despite these challenges, the company managed to thrive and even expand its product line. In fact, Eve Drop underwent a rebranding and emerged as “Light Hangers Pro”.
Unfortunately, in 2016, the company’s website closed down, and currently, the only way to purchase Eve Drop products is through Amazon. The current net worth of Eve Drop is unknown. It is important to note that Nathan Schaffer, the founder of Eve Drop, made the decision to shut down the company and pursue a new career in real estate.
FAQ
What is the net worth of Eve Drop before and after appearing on Shark Tank?
As of their appearance on Shark Tank, the net worth of Eve Drop was $375,000 based on the $75,000 offer for a 20% equity stake. However, Eve Drop went out of business in 2017, so the current net worth is unknown.
Who founded Eve Drop and what were their key accomplishments?
Eve Drop was founded by Nathan Schaffer. He appeared on Season 6 of Shark Tank in 2014 to pitch Eve Drop. Although the company ultimately went out of business, it experienced a surge in popularity and generated $1 million in yearly sales as of February 2022.
What happened during Eve Drop’s pitch on Shark Tank?
During the pitch, Nathan Schaffer sought $75,000 for a 20% equity stake in Eve Drop, valuing the company at $375,000. Despite demonstrating the product and explaining its benefits, none of the Sharks made an offer. The Sharks were not impressed with the sales figures presented, and Nathan mentioned that sales were primarily from a Kickstarter campaign.
What happened to Eve Drop after appearing on Shark Tank?
After the show aired, Eve Drop experienced a surge in popularity and secured retail deals with Ace Hardware, Do It Center, and True Value. The company also rebranded itself as “Light Hangers Pro.” However, the company website closed in 2016, and it is currently only possible to purchase a selection of Eve Drop products from Amazon. Nathan Schaffer decided to shut down the company and pursue a career in real estate.