Outer Shark Tank Net Worth: Before and After the Show

Outer, the outdoor furniture company featured on Shark Tank, has experienced a significant increase in net worth since its appearance on the show. Let’s dive into the details of Outer Shark Tank net worth, cast net worth, judges net worth, investors net worth, company net worth, entrepreneurs net worth, valuation, success, and business updates.

Key Takeaways:

• Outer’s net worth has seen a significant increase since its appearance on Shark Tank.
• Before Shark Tank, Outer was valued at $100 million.
• After securing a deal with Lori Greiner, Outer’s valuation has continued to rise.
• Founders Terry Lin and Jiake Liu have successfully raised additional funding totaling $14.8 million.
• Outer’s revenue growth has been substantial, with recent sales amounting to $45 million.

Founders and Background

Outer was founded by Terry Lin and Jiake Liu, both California natives with unique backgrounds that brought their vision for the company to life. Terry Lin, a graduate of the Rhode Island School of Design, has a strong background in fine arts and design. His experience working as a designer at Pottery Barn equipped him with the skills and knowledge needed to create aesthetically pleasing and functional outdoor furniture.

Jiake Liu, on the other hand, brings a technical perspective to Outer. With a background in computer engineering, Liu has a knack for problem-solving and leveraging technology to scale businesses. He has played a pivotal role in scaling and expanding various startups prior to co-founding Outer.

The idea for Outer was born out of Liu’s observation of a gap in the market for high-quality outdoor furniture. Recognizing the need for durable, stylish, and weather-resistant furniture, Liu partnered with Terry Lin and together they launched Outer in 2017. Their shared passion for design and commitment to creating innovative outdoor furniture has been the driving force behind Outer’s success.

Founders	Terry Lin	Jiake Liu
Education	Rhode Island School of Design	Computer Engineering
Experience	Pottery Barn (Designer)	Scaling and expanding startups
Background	Fine arts and design	Technology and startups

Shark Tank Pitch and Deal

When Terry Lin and Jiake Liu appeared on Shark Tank, they presented their business, Outer, with a valuation of over $18 million. Their pitch showcased the innovative outdoor furniture that they had designed, along with their unique business model. Despite facing initial skepticism from the Sharks regarding the high valuation, Terry and Jiake managed to secure a deal with renowned entrepreneur and investor Lori Greiner.

Lori Greiner offered a $750,000 loan with a 3% interest rate in exchange for 5% equity in Outer. Additionally, she negotiated a $30 royalty per unit sold until the loan amount of $1 million is fully repaid. This partnership with Lori Greiner has been instrumental in Outer’s success, providing not only financial support but also valuable expertise and resources to help the company grow.

Table: Deal with Lori Greiner

Investor	Investment	Equity	Royalty
Lori Greiner	$750,000 loan	5%	$30 per unit sold until $1 million is repaid

Through their appearance on Shark Tank and their subsequent deal with Lori Greiner, Terry and Jiake have gained not only financial backing but also a strategic partnership that has propelled Outer’s growth. This collaboration has allowed Outer to leverage Lori’s extensive network and industry know-how to expand their business and reach a wider audience of outdoor furniture enthusiasts.

By securing a deal on Shark Tank and partnering with Lori Greiner, Outer has positioned itself as a standout success story in the outdoor furniture industry. The company’s valuation and the investment received not only validate the quality and potential of their products but also provide a strong foundation for further growth and innovation.

Success and Growth After Shark Tank

Since its appearance on Shark Tank, Outer has experienced remarkable success and significant growth in various aspects of its business.

Funding After Shark Tank

Outer has successfully secured a total of $14.8 million in funding from prominent firms such as Sequoia Capital China, Tribe Capital, Capital Today, Upfront Ventures, and C Ventures. This funding has allowed the company to fuel its expansion plans, invest in innovation, and further establish its position as a leader in the outdoor furniture industry.

Revenue Growth

The company has experienced substantial revenue growth, with recent sales reaching an impressive $45 million. This increase in revenue is a testament to the market demand for Outer’s high-quality and durable outdoor furniture, as well as its unique peer-to-peer showroom model.

Expansion of Showrooms

Outer’s innovative approach to selling outdoor furniture through peer-to-peer showrooms has allowed the company to expand its reach significantly. Currently, Outer has established 500 showrooms across the United States where customers can view its furniture in real customer backyards. This expansion has given Outer a competitive edge and provided customers with a unique and immersive shopping experience.

Recognition in Major Publications

Outer’s success has not gone unnoticed by major publications. The company has gained recognition in well-respected publications such as Forbes and GQ Entrepreneur. This recognition further solidifies Outer’s position as a trusted and respected brand within the industry.