Hill Billy Shark Tank Net Worth 2023
Hill Mike Abbaticcho and Shon Lees are the owners of a company called Billy Brand. They appeared on the television show “Shark Tank” with the hope of securing a $50,000 investment in exchange for 25% ownership of their company, which would value their company at $200,000.
However, the Sharks made a different offer. They offered to invest $75,000 in exchange for 100% ownership of the company, which would value the company at $75,000.
The owners of Billy Brand accepted this offer, meaning that they gave up all ownership of the company in exchange for the investment from the Sharks.
What is Hill Billy? Who Founded Hill Billy?
The HillBilly Brand is a company that specializes in selling apparel and accessories that cater to a country lifestyle.
Their products range from t-shirts to hunting gear, and they offer both men’s and women’s clothing, including what they call “redneck” t-shirts and tank tops.
The company has expanded its offerings to include trucker hats, various accessories, and even drinks. Mike Abbaticchio, who is the founder and president of the HillBilly brand, hails from Florida and holds a bachelor’s degree in business from Nova Southeastern University.
Meanwhile, Shon Lees, who is the CEO and co-founder, also comes from Florida and had attended Florida State University prior to starting two businesses.
Currently, Abbaticchio and Lees still run the HillBilly brand.
Hill Billy Shark Tank Pitch
Mike Abbaticcho and Shon Lees, the owners of Hillbilly Brand, appeared on Shark Tank seeking $50,000 in exchange for a 25% stake in their apparel line of hats and t-shirts that showcases their brand’s increasing popularity.
This suggested a $200,000 valuation, with the majority of revenues being generated from participating in sporting events and live country western concerts.
Their negotiations with the Sharks were influenced by the fact that Sports Authority had recently acquired Hillbilly Brand.
Robert Herjavec was interested in their sales, and they reported selling $50,000 worth of merchandise in the previous 12 months through events and expected to reach $60,000 by the end of the year.
They also secured a distribution contract with Sports Authority and were in the process of negotiating further arrangements.
When pressed on their valuation, Abbaticchio and Lees defended their $200,000 estimate, citing their sales and the worth of their trademarks. However, Kevin O’Leary was unimpressed and left the negotiations, leaving four Sharks remaining.
Barbara Corcoran felt that she lacked the necessary licensing relationships to assist the men in selling their brand, so she opted out.
Robert Herjavec then proposed that Jeff Foxworthy join the transaction, purchase the brand outright, and license it. Foxworthy agreed and brought in Daymond John, the apparel tycoon.
Herjavec made an offer of $50,000 for the brand, plus a 7% royalty on licensed sales, but Abbaticchio and Lees provided a counter-offer of $100,000 for a 10% stake in the company and a guarantee that they would have the right to repurchase the brand if it fails to sell.
The Sharks responded with an offer of $75,000 for a 100% stake and a 7% royalty on licensed sales, which the men accepted.
Ultimately, the partners were unable to reach an agreement with the three Sharks, and the transaction was rejected. Despite this setback, Hillbilly Brand continued to soar in worldwide prominence.
They expanded their collection to include women’s clothing and even created their own iced tea brand. As of July 2021, the company generates revenue of $1 million per year.
Hill Billy Net Worth.
Hill Mike Abbaticcho and Shon Lees, owners of Billy Brand, came to the Shark Tank seeking a $50,000 investment for a 25% ownership.
This indicates a value of $200,000. They accepted an offer from the Sharks of $75,000 for 100% which the valuation to be $75,000.
Hill Billy Competitors?
Unknown.
Hill Billy FAQS
What is Hill Billy?
The HillBilly Brand is a country lifestyle apparel business that sells anything from t-shirts to hunting gear.
Men’s and women’s country attire includes what the HillBilly Brand refers to as “redneck” T-shirts and tank tops.
The HillBilly Brand expanded its offering to include trucker hats, a variety of accessories, and even drinks.
Who Founded Hill Billy?
Mike Abbaticchio and Shon Lees are the founders of Hill Billy.
What is Hill Billy’s revenue?
According to Mike Abbaticchio in his Shark Tank pitch, they’ve earned $50,000 in sales already in the last twelve months.
Did Hill Billy get an investment from the Sharks?
They accepted an offer from the Sharks of $75,000 for 100% plus 7% royalty on licensed sales.
When was Hill Billy aired on Shark Tank?
Season 3 episode 4, aired on April 8, 2011.
What are their weaknesses of Hill Billy?
Hill Billy is a business started by two individuals who have no background in sales. Their valuation is only $200,000 with little to no track record of sales.
How do Hill Billy make money?
Hill Billy Brand is a country lifestyle apparel business that sells anything from t-shirts to hunting gear.
Men’s and women’s country attire includes what the HillBilly Brand refers to as “redneck” T-shirts and tank tops.
The HillBilly Brand expanded its offering to include trucker hats, a variety of accessories, and even drinks.
What happen to Hill Billy after the Sharks?
The HillBilly Brand is still in operation today, with the same partners at the helm.
They’ve expanded beyond clothing to include hats and accessories, drinks and even toys for children. They’ve also begun selling their branded products in other countries.
What are their Strengths?
Hill Billy is an established brand that has grown immensely in popularity since it was first started. They have also secured high-profile celebrity endorsements from stars like Ozark Mountain Daredevils, Kenny Chesney and Jeff Foxworthy.
Who invested in Hill Billy?
Robert, Daymond and Foxworthy invested in Hill Billy but investment was later decline by the owners.
How many people follow Hill Billy on Instagram?
As of July 2018, they have over 100k followers on Instagram @hillbillybrand.
What does Hill Billy Brand offer?
The HillBilly Brand offers a complete line of country lifestyle apparel, beverages and merchandise based on their “redneck” designs such as T-shirts, hats, accessories and apparel for both men and women.
Is Hill Billy still in business?
Yes, Hill Billy is still in business and currently thriving as a company.
They have expanded beyond clothing to include hats and accessories, drinks and even toys for children.
They’ve also begun selling their branded products in other countries.
