EvRewares Shark Tank Update | EvRewares after Shark Tank Pitch
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What is EvRewares?
EvRewares are reusable and wearable fabric sticker ties that give a fun to any event.
The patented EvRewares sticker adheres like glue to whatever surface it comes into contact with, yet without leaving any residue behind. Simply peel, stick, and wear.
What’s more, these stickers may be reused several times and will remain just as adhesive as the first time you applied them.
These biodegradable novelty stickers are the simplest and quickest way to dress up any clothing.
The bacon tie, beer tie, duct tape tie, American flag tie, and pixel tie are all popular designs.
Ellie Brown and Becca Nelson are North Carolina business sisters who founded the company in 2011 because they wanted a fun, economical, and simple solution to modify their children’s clothing to suit their shifting interests.
The couple has had some success getting their product into stores — they’re on the shelves at Party City, the Container Store, and hundreds of mom and pop shops – and they’ve made around $500,000 in sales since beginning the firm.
EvRewares may be purchased at the aforementioned retailers as well as online at Amazon.
They also have fabric stickers for new-borns, Sticky Bow Ties, Sticky Sashes, Sticky Words, and Sticky Drink Labels in addition to Sticky Ties.
They also offer collegiate licensing for certain of their goods.
Who Founded EvRewares?
Ellie Brown and Becca are the founders of EvRewares.
What happen to EvRewares at the Shark Tank Pitch?
The two ladies are seeking for a Shark to help them build their internet firm, get greater retail penetration, and raise capital for expansion.
The episode begins with a “at home section” with Ellie and Becca playing with their children.
They announce that they have invested $185K of their own money in the company.
Ellie and Becca join the Tank with a $100,000 offer for a 30% stake in the company. This results in a value of $333,333.33.
They explain and demonstrate the product before handing out Sticky Tie samples.
Kevin predicts that his Sticky Tie (a $100 note with a picture of him on it) will be their biggest seller.
They’ve made $600,000 in sales since 2011, $300,000 of which was in 2014, and they’re only on track to generate roughly $50k this year.
They claim that this is an intentional slowdown and retreat because sales were dropping, not enough to compel retailers to withdraw the product, but enough that they decided it was time to take a step back and reassess before forward.
The product sells for between $4.99 and $11.99, and they believe they can reduce production costs to 50 cents apiece, albeit they must pay for a patented unique substance to keep the product’s position as a reusable item that can be wiped clean of spills.
Lori claims she bought in something similar a few years ago and it failed to sell, so she’s out.
Kevin believes it’s the most expensive sticker in the store, dismisses it as a “howling dog from hell that sucks,” and walks away.
“You enjoy creating, but your attention isn’t on the business,” Barbara Corcoran told the sisters. “I’m leaving.”
“Reusable, re-wearable, nobody cares,” laughed Robert Herjavec. “I’m leaving.”
“Because your name stinks,” Mark Cuban said when asked if the club was doing well in internet sales.
He did, however, make them an offer. Rather than investing, he claimed he’d pay them $200,000 for the entire company.
“You have no clue what you’re doing,” he stated, insisting that he could handle the firm properly and make it succeed.
While Becca and Ellie explored the prospect, Kevin chastised Mark, telling him he should just take the concept and start his own business instead.
The sisters approached, sobbing, remembering about the effort they’d put into the firm, plainly ready to let it go yet hesitant.
“It’s your kid, and I respect that,” Mark said, and when they agreed it was time to let the baby go, he pledged to take excellent care of it and hugged the two.
Mark Cuban paid Ellie Brown and Becca Nelson $200,000 for EvRewares.
EvRewares after Shark Tank Pitch
Ellie and Becca eventually refused Mark’s offer shortly after it aired. He ENTIRELY backed their decision and tried to counsel them.
In some modest ways, they followed through on his offer.
“His team were rock stars getting us ready for broadcast in terms of internet stuff,” Ellie says. I can’t say enough good things about him. But, in the end, I’m simply glad for the chance.”
EvRewares did profit from the “Shark Tank Effect,” as their website got incredible traffic on show night, with over 1000 views per minute.
Unfortunately, only around $10,000 was sold as a consequence of this.
EvRewares closed its doors in December of 2015. The sisters “cleared our remaining stock” and decided to “no longer provide EvRewares items,” according to the dark website.
EvRewares Net Worth
Ellie and Becca join the Tank with a $100,000 offer for a 30% stake in the company. This results in a value of $333,333.33. They sold their business at $ 200,000 value.
EvRewares Competitors
Unknown.
EvRewares FAQS
What became of EvRewares after Shark Tank?
Later that year, EvRewares went out of business.
The sisters “cleared our remaining stock” and decided to “no longer provide EvRewares items,” according to the dark website.
On Amazon, there are only a few EvRewares ties left for sale.
What are sticky ties?
The Big Man Sticky Ties was created in 2010 by two sisters from Zionsville, Indiana, Becca Nelson and Ellie Brown.
In comparison to typical stickers, the reusable stickers are constructed of woven cloth and may be reused and repositioned up to 10 times each Sticky Tie.
How much is sticky ties worth?
The proprietors of evREwares, which manufactures reusable party accessories such as ‘sticky ties,’ decided to sell their company to Mark Cuban for $200,000.
What happened to EvREwares?
After Shark Tank, a sticker tie company goes out of business. Mark Cuban proposed a $200,000 purchase of the entire firm but the sisters changed their minds after the show aired.
Who founded EvRewares?
Ellie Brown and Becca are the founders of EvRewares.
What is EvRewares?
EvRewares was business that was selling reusable sticky ties.
When was EvRewares aired on Shark Tank Pitch?
January 13, 2015
How much does EvRewares costs?
The product sells for between $4.99 and $11.99,
Were EvRewares patent?
EvRewares ties were patented.
What was weaknesses of EvRewares?
The ability to keep the product in stock. The product has over 1,000 different designs.
What did EvRewares wanted from the Sharks?
Becca and Ellie wanted $100,000 for a 30% stake in EvRewares. They also needed help getting the item back into stores.
Who purchased EvRewares from Becca Nelson and Ellie Brown?
Mark Cuban is a sponsor of Mark Cuban’s – Originally airing January 13, 2015 on ABC. Mark Cuban wanted to purchase the entire business for $200,000.
What were strengths of EvRewares?
The elastic and reusable material. The product is more functional than most of their competitors.
