Felt App Shark Tank Net Worth 2023
Tomer appeared on Shark Tank Season 7 Episode 29 to seek an investment of $200,000 in exchange for a 6% stake in his company Felt, resulting in a valuation of $3.3 million.
Kevin offered him $225,000 for 10% stake which brought the valuation down to $2.25 million. According to recent statistics, the net worth of Felt App is currently estimated at around $2 million as of 2022.
What is Felt App? Who is the Founder of the Felt App?
Felt is a unique app that offers a refreshing change from the digital world we live in. The app is exclusively available on Apple devices and allows users to create handwritten cards using their finger or stylus. Users have the option to personalize their cards by adding their own photographs or choosing from a variety of provided styles.
One of the app’s standout features is its ability to customize the envelope. Users can easily add the ‘to’ and ‘from’ addresses by scribbling them on the envelope using the app. The app also saves users’ addresses, making it easy to use them in the future.
Once the card is created, Felt sends it to a boutique print business in Dallas, where it is printed on high-quality Mohawk paper. The card is then carefully placed in a craft-paper envelope, stamped with first-class postage, and sent via USPS.
The cost of sending a single card is $3. Users also have the option to send up to four cards to one recipient in a single envelope for $6. Felt also offers a subscription service, which allows users to send three cards every month for $5.
Tomer Alpert, a resident of Telluride, Colorado, is the creator of Felt App. The idea for Felt was born when Alpert, the founder of Felt, was unable to locate an emergency thank-you note after a party.
In 2013, Alpert created the app to cater to our increasingly digital and disconnected lifestyles by offering greater customization. As per their website, Felt is “snail mail reimagined for the modern world.
What Happened to Felt App at the Shark Tank Pitch?
Tomer appeared on Shark Tank’s 29th episode of Season 7 seeking an investment of $200,000 in exchange for a 6% stake in his company, Felt. This puts Felt’s value at $3.3 million. During his pitch, Tomer presented the Sharks with Felt cards, which represent the app’s various capabilities.
Felt has already garnered 60,000 downloads and an impressive 4.5-star rating on the Apple iTunes store. Tomer believes that the wedding industry presents a significant opportunity for Felt, but he also plans to expand his target audience to include professionals who need to send a large number of cards to various recipients.
He believes that Felt’s ability to save recipient addresses in a user’s account will appeal to brides and professionals.
Robert Herjavec, however, declines to invest because he doesn’t believe the technology or the concept is unique. On the other hand, Kevin O’Leary, who owns a wedding firm called HoneyFund, is intrigued by Felt and offers Tomer $225,000 in exchange for a 10% stake in the company.
O’Leary sees potential in Felt and believes that his expertise can significantly reduce user acquisition costs.
The other Sharks, including Mark Cuban, Barbara Corcoran, and Lori Greiner, decide to pass on the opportunity, but they all recommend that Tomer accept O’Leary’s offer.
What Happened to Felt App after the Shark Tank Pitch?
The agreement with Kevin never materialized, but Felt has flourished and is now available on the web and in the iTunes Store. The company’s Facebook and Twitter profiles remain active, indicating that it is thriving and expanding.
Tomer’s venture of swimming with sharks was a resounding success. As of November 2021, the company is still operational and has achieved yearly sales of $1.5 to $2 million.
Felt App Net Worth?
Tomer appeared on Shark Tank Season 7 Episode 29 in search of a $200,000 investment in exchange for a 6% stake in Felt. This translates to a $3.3 million valuation.
On accepting an offer from Kevin of $225,000 for 10% stake which brings valuation to be $2.25 million valuation.
Felt App Competitors
Greetabl, GiftRocket, Giftly, and TouchNote are the major rivals in Felt’s competitive set.
Felt App FAQS
What is Felt App?
Felt is an app that prints and mails handwritten cards in their digital-heavy world.
They can also customize the envelope by scribbling to and from addresses on it using the app, which also retains their addresses.
They may upload their own photographs or use one of the styles provided.
Who is the founder of Felt App?
Felt App was created by Tomer Alpert of Telluride, Colorado.
How much was they seeking in the Shark Tank?
Tomer appeared on Shark Tank Season 7 Episode 29 in search of a $200,000 investment in exchange for a 6% stake in Felt. This translates to a $3.3 million valuation.
Did he get the deal?
Tomer accepted an offer from Kevin of $225,000 for 10% stake which brings valuation to be $2.25 million valuation.
What happened to Felt App after the Shark Tank?
The contract with Kevin never came to fruition, but Felt has taken off. The software is presently accessible in the iTunes Store and on the web.
The social media profiles on Facebook and Twitter are still active, indicating that the firm is healthy and expanding.
Is Felt App still in business?
Yes. Felt App is still a growing business and it looks like they are doing well.
What is Felt App’s revenue?
They have a yearly sales of $1.5-$2 million as of November 2021.
What episode was Felt App featured?
The episode was shark tank Episode 29 of Season 7.
Who are the competitors of Felt App?
Greetabl, GiftRocket, Giftly, and TouchNote are the major rivals in Felt App’s competitive set.
Can they Track their Order?
They proudly use the dependable US Postal Service’s First Class Ship, and tracking isn’t accessible, just like anything else they’d stamp and mail.
If their order contains a present that is too large to fit in the envelope with their card, they can locate tracking information on the app’s prior orders tab.
Where is felt app located?
Felt then prints, seals, stamps, and mails the card to its customers within 24 hours via the United States Postal Service.
Provides a variety of pens and inks, as well as a convenient eraser, to help its users tailor their particular message.
Felt was founded in 2012 by Tomer Alpert. It is headquartered in Telluride, Colorado.
How long do felt cards take?
Cards are shipped within 24 hours after being printed on quality Mohawk paper by Indigo printers and packaged in their characteristic, custom-milled Kraft envelopes.
They also hand-apply first-class stamps, giving every card a personal touch.
Is felt a good app?
They may send handwritten notes directly from their phone or PC. They enjoy being able to make personalized photo cards to give to others.
Is felt a free app?
Felt is available for free on iTunes.
Will their iOS account sync with their Android account?
YES! They may access their account from any of their devices (iOS or Android), regardless of the device on which they created their account.
Will it really look like their handwriting?
They print their drawings and notes just as they appear on the app. They may write their customized message using their finger or a stylus.
What is net worth of Tomer Alpert?
Tomer Alpert’s net worth is unavailable.
