Foot Fairy Shark Tank Net Worth
The net worth of Foot Fairy, a company that appeared on Shark Tank, was $500,000 when it aired on the show. However, as of 2022, the net worth of Foot Fairy is unknown.
In their appearance on Shark Tank, Dr. Sylvie Shapiro and Nicole Brooks asked for $75,000 in exchange for a 15% stake in their company.
What is Foot Fairy and Who is the Founder of Foot Fairy?
Foot Fairy was a tablet software that measured a child’s foot by placing it on the screen. The aim is to avoid the agonizing journey to the shoe store by purchasing shoes online from the comfort of your own home.
A parent would place their child’s foot softly on the tablet. It would scan the foot size and then transmit the data to a shoe seller.
Foot Fairy has collaborated with Zappo to offer the shoes following the activity.
Foot Fairy was founded by Dr. Sylvie Shapiro and her companion Nicole Brooks. Dr. Sylvie worked as a podiatrist in Beverly Hills before developing the app.
Unfortunately, Foot Fairy did not get the momentum that they had hoped for. So Dr. Sylvie returned to her practice. She also discovered Planet Flops, a company that sells eco-friendly flip-flops.
Foot Fairy was created to assist youngsters in selecting the proper shoe size. Dr. Sylvie observed that many youngsters suffered from foot illnesses as a result of wearing ill-fitting shoes.
These diseases may have been avoided. As a result, she resolved to find a suitable answer. They co-created Foot Fairy with Nicole.
Because the two ladies lacked an experience in computer science, they recruited a team to create the program. After developing the program, the two mompreneurs signed a contract with Zappo.
They were supposed to get between 8% and 18% off any shoe purchased after utilizing Foot Fairy. The program, however, was buggy, and these refunds were not fully captured, leaving the mompreneurs without royalties.
Foot Fairy Shark Tank Pitch
Foot Fairy is a tablet app that measures a child’s foot size using the device’s screen, allowing parents to purchase shoes online from home without having to go to a shoe store. Dr. Sylvie Shapiro, a Beverly Hills podiatrist, and her partner, Nicole Brooks, founded Foot Fairy.
The app operates by scanning a child’s foot when placed on the tablet’s screen, then transmitting the data to a shoe seller, with Zappos being one of their partners.
Dr. Sylvie developed Foot Fairy to address the problem of children’s foot illnesses caused by ill-fitting shoes. She and Nicole collaborated to create the program, even though they lacked computer science expertise. They engaged a team to build the app and then signed a contract with Zappos.
Foot Fairy did not achieve the success they had anticipated, and the program had some glitches that resulted in the mompreneurs not receiving their royalties. As a result, Dr. Sylvie returned to her practice and subsequently founded Planet Flops, an environmentally friendly flip-flop company.
Foot Fairy Net Worth
Dr. Sylvie and Nicole appear on Shark Tank in search of $75,000 for a 15% stake in their company. This demonstrates a $500,000.
They accepted an offer from Mark Cuban of $100,000 for 40% thus valuing it at $250,000.
Current net worth is not available since they are no longer in business.
Foot Fairy Competitors
FeetMeter App and RiteFit app are some of the competitors for Foot Fairy.
Foot Fairy FAQS
What is Foot Fairy?
Foot Fairy was an iPad application for measuring children’s feet. A parent would place their child’s foot softly on the tablet.
It would scan the foot size and then transmit the data to a shoe seller.
Who were the founder of Foot Fairy?
Dr. Sylvie Shapiro and Nicole Brooks created Foot Fairy.
How much were they seeking in the Shark Tank?
Dr. Sylvie and Nicole were seeking $75,000 for a 15% stake in their company.
Did they get the deal from the Sharks?
Yes, they got the deal with the condition that Mark Cuban would first test whether Foot Fairy works and that he would conduct market research to ensure that there was nothing similar in the market.
How much was the deal?
They ended up receiving $100,000 investment in exchange of 40% equity in the business but they never closed the deal.
Is Foot Fairy still in business?
No. They shut down the business just six months after been aired on Shark Tank.
What is the social media link of Foot Fairy?
There is no social media link of Foot Fairy that they can access currently.
What happened to Shark Tank’s Foot Fairy?
This transaction never concluded, and the company was virtually out of business six months after it aired in May of 2014.
They are no longer available as of August 2021, and there are at least a dozen shoe size applications in the app store.
Is there an app that can measure a child’s feet?
Users take a photo of a child’s foot while standing on a reference object, such as an 8.5-inch by 11-inch piece of paper, using the RiteFit app.
The software then properly measures the length and breadth of the foot, allowing parents to select the proper shoe size.
Is there a foot measurement app?
VisTech’s FeetMeter App. Foot length measurement and shoe size estimation projects on iOS and Android, a simple and accurate foot measurement tool is available.
What is the net worth of Sylvie Shapiro?
Sylvie Shapiro’s net worth is unavailable.
What is the net worth of Nicole Brooks?
Nicole Brooks’s net worth is unavailable.
Who are their competitors?
FeetMeter App and RiteFit app are some of the competitors for Foot Fairy. FootMeter App is another app that can measure a child’s feet for shoe size.