Lucy Drawing Tool Shark Tank Net Worth-What Happened After Shark Tank?

Lucy Drawing Tool Shark Tank Net Worth

The net worth of Lucy Drawing Tool after the Shark Tank was around $2 million. It is not clear whether the deal with Daymond John closed, but the exposure certainly helped the startup’s popularity and increased sales.

The Lucy Drawing Tool is inspired by the camera lucida and helps people improve their drawing skills exponentially. .

The Lucy Drawing Tool is a product that helps amateurs draw like professionals. It creates reflections on the paper or canvas, allowing users to get the proportions right easily.

The founder of the Lucy Drawing Tool, Lee Cookson, appeared on Shark Tank in Season 11 and asked for an investment of $300k for 10% equity. Daymond John invested 300k for 15% equity in the company, valuing it at $2 million.

Before appearing on Shark Tank, the Lucy Drawing Tool had made $3.7 million in sales with a profit of $1.6 million.

At the time of his pitch, the company’s lifetime sales sat at $10 million. After appearing on Shark Tank, sales increased thanks to the publicity from the show.

The company has since introduced new products such as the LUCY Pro and LUCY Mini drawing tools and multiple-piece drawing kits.

As of 2022, the net worth of Lucy Drawing Tool is around $3 million. The company is still in business and doing better than ever after signing deals with Walt Disney, 20th Century Fox, and Warner Bros.

Cookson has also launched “The Lucy Drawing Course,” which includes 14 video lessons suitable for beginner and intermediate artists. The course costs around $37.

In conclusion, after appearing on Shark Tank and receiving an investment from Daymond John, the Lucy Drawing Tool was valued at $2 million.

As of 2022, its net worth is around $3 million. The company is still in business and doing well after introducing new products such as LUCY Pro and LUCY Mini drawing tools and multiple-piece drawing kits.

What Is Lucy Drawing Tool? Who Founded Lucy Drawing Tool?

The LUCY Drawing Tool is a drawing tool that creates reflections on paper or canvas, allowing artists to recreate objects, figures, or scenery with accurate proportions.

The product is based on the camera lucida and was founded by Lee Cookson, who has a provisional patent on the improvements he made.

The tool is used by 20% of established artists, 20% of people learning to draw, and 60% of people who want to start making art.

The LUCY Drawing Tool costs $128 to buy and $25.50 to make. The brand made $2.3 million in sales last year with a profit of $1.6 million.

The founder of the LUCY Drawing Tool is named Les Cookson. He spent four years perfecting the tool, which is based on the camera lucida and creates reflections on paper or canvas to help artists recreate objects, figures, or scenery with accurate proportions.

Cookson has a provisional patent on the improvements he made to the camera lucida technology used in the LUCY Drawing Tool.

What Happened To Lucy Drawing Tool At Shark Tank?

Les Cookson, the founder of Lucy Drawing Tool, appeared on Shark Tank in April 2022 and asked for an investment of $300,000 in exchange for 10% of LucidArt.

The product had made $2.3 million in sales in the 12 months prior to the episode’s taping and had brought in $10 million in total sales since launching in 2009.

The Lucy Pro costs $277 and projects an image up to 20 x 37 inches[2]. After getting an investment from Shark Tank, the company was valued at $2 million.

In the year prior to appearing on Shark Tank, the LUCY drawing tool had made a total of $3.7 million with the company taking $1.6 million. The basic item, Lucy Flex, is priced at $97 and can be purchased from the company’s website or Amazon

As of December 2022, there is no evidence that the deal with Daymond John closed for Lucy Drawing Tool after appearing on Shark Tank.

The founder, Les Cookson, asked for a $3 million valuation but was valued at $2 million after getting an investment from Daymond John.

The company was doing well before its appearance on Shark Tank and experienced the “Shark Tank effect” after the episode aired, which helped drive a sharp rise in new orders.

However, it is unclear whether the deal with Daymond John ever closed as he has not featured the business on his website.

Lucy Drawing Tool is a modern-day reiteration of the camera lucida that superimposes an image onto a drawing or painting surface allowing you to effectively “trace” the image and draw or paint a better representation of the subject.

It helps people improve their drawing skills exponentially and has been patented by the original creator since around 1807.

The product costs $97 to purchase and comes in two models: Lucy Flex and Lucy Pro. In addition to selling drawing tools, Les Cookson has launched “The Lucy Drawing Course,” which includes 14 video lessons for $37.

In summary, while Lucy Drawing Tool experienced success before its appearance on Shark Tank and saw a sharp rise in new orders after airing on national TV, it is unclear whether the deal with Daymond John ever closed.

Nonetheless, Les Cookson continues to sell his drawing tool online along with offering video lessons through “The Lucy Drawing Course.”

What Happened To Lucy Drawing Tool After Shark Tank?

Lucy Drawing Tool became popular on national TV after Shark Tank, and many people liked this product when they started watching it.

The founder, Les Cookson, explained his product very well in Shark Tank, and the sharks liked it very much. Daymond invested in this company to take this unique tech product forward.

After Shark Tank, Cookson launched his “The Lucy Drawing Course” and is charging around $37 for it. In this course, the user will get 14 video lessons.

However, there is no information available on what happened to Lucy Drawing Tool after Shark Tank beyond the launch of “The Lucy Drawing Course.”

Is Lucy Drawing Tool Still In Business?

Yes, Lucy Drawing Tool is still in business as of December 2022. The company is based in Lincoln, California, and was started in 2005.

Lucy Drawing Tool uses a special technology that helps artists to concentrate on their drawing without having to look at it again and again.

It becomes a reflection of anything or photo to help the artist draw. Through this drawing tool, the artist can improve his drawing and gain confidence that he can draw anything.

Lucy Drawing Tool became popular on national TV after appearing on Shark Tank, and many people liked this product when they started watching it.

According to Similaweb’s December 2022 report, 117k people are visiting the “drawlucy” website. Therefore, it can be concluded that Lucy Drawing Tool is still in business as of March 2023.