Pink Picasso’s Net Worth
Pink Picasso is a company that sells paint-by-number kits. Its net worth varies depending on the source, but it is estimated to be between $2.6 million and $5 million.
The company appeared on Shark Tank and landed a $400,000 investment from Lori Greiner and Kind founder Daniel Lubetzky in exchange for a 15% stake.
What is Pink Picasso and Who are Pink Picasso’s Founders?
Pink Picasso is a premium paint-by-numbers kit that provides customers with everything they need to create their own masterpieces.
The kit includes an unstretched canvas measuring 16 x 20 inches, small water-based acrylic paint pots, a 4-brush set, a finished picture photo with a color key, a numbers map to help prevent painting over the wrong number, and a bottle of acrylic paint with a lid designed for the easy organization during painting.
Customers can choose a kit that appeals to them online and begin painting in a well-lit and quiet area without any distractions. To paint, they just need to match the number on the canvas with the corresponding color on the paint.
Pink Picasso was founded by Ashley and Brittany Silfies. Before starting Pink Picasso, Ashley worked as a procurement manager, while Brittany was a former lab worker at NAT, where she conducted testing on blood plasma for HIV, Hepatitis A-C, and Parvo.
The couple also runs other paint-by-numbers businesses such as Modern Monet and Wear Your Sole.
Ashley and Brittany came up with the idea of starting a paint-by-numbers company when they were looking for ways to cover a plain white wall in their apartment. Pink Picasso was born in 2019 after a brainstorming session.
Pink Picasso painting kits are available for purchase on the company’s website, Amazon, and hundreds of independent arts and crafts stores throughout the country.
Pink Picasso the Shark Tank Pitch
Ashley and Brittany appeared on Shark Tank in search of $400,000 for a 5% stake in their company, which was valued at $8 million. They discussed the contents of each kit and how it was a modern craft that people could be proud of. Lori liked the product and believed that everyone liked puzzles.
The women also talked about their personal lives and how they started the business to support themselves. After being recognized as one of Oprah’s favorite items, they earned $1.3 million in sales in 2019 with only a $1500 investment. The sales for 2020 were $3.5 million.
An adult kit costs $3.77 (plus $4 for shipping), wholesales for $19, and retails for $42. The Sharks were concerned about margins, and Pink Picasso aimed to generate $5 million in revenue in 2021 with a profit of $900,000.
The women stated that they required a mentor’s assistance to break into large retail stores and wanted to do licensing with companies like Disney. Kevin offered $400,000 for 33.3% and participation in payouts. Lori liked the women and the product and offered $400,000 for a 20% stake in the company with Daniel.
Barbara offered $400,000 as a loan at 8% interest in exchange for 5% of the company. Daniel had planned to offer $400,000 for 10% before presenting the deal to Lori, but he believed that having two Sharks at 20% was more valuable.
Kevin lowered his offer to $400,000 for 3% plus a $6 royalty per unit. Eventually, Lori and Daniel offered $400,000 for 15% off, and the deal was struck.
As they hugged on stage, Mark, one of the Sharks, showed off a painting he had been working on throughout the segment.
Pink Picasso after the Shark Tank Pitch
There is no update about the company at the moment.
Pink Picasso Net Worth
Ashley and Brittany are on Shark Tank in search of $400,000 for a 5% stake in their company. This equates to an $8 million valuation.
They accepted an offer from Lori and Daniel of $400,000 for 20% stake which brings valuation to be $2,666,666.67.
Pink Picasso Competitors
There is no competitor identified for Pink Picasso.
Pink Picasso FAQS
What is Pink Picasso?
Pink Picasso is a revolutionary paint by numbers kit. Each Pink Picasso package includes a 16 x 20 unstretched canvas, convenient tiny paint pots filled with water-based acrylic paint, a 4-brush set, finished picture photo with colour key, and a bottle of water-based acrylic paint.
So, all you have to do is choose a kit from the internet that appeals to you the most and start painting.
Simply paint the design in the colour that corresponds to the number on the picture photo with the number on the paint.
Who is the Founder of Pink Picasso?
Pink Picasso was founded by Ashley and Brittany Silfies.
How much was they seeking in the Shark Tank?
They were seeking $400K for a 5% stake in the business.
Did he get the deal from the Sharks?
Ashley and Brittany Silfies secure an investment from Lori and Daniel?
How much was the deal?
They accepted an offer of $400,000 for 20% stake which brings valuation to be $2,666,666.67.
Is Pink Picasso still in business?
Pink Picasso is still in business.
When was Pink Picasso founded?
Pink Picasso was started in 2019.
Where is Pink Picasso located?
Pink Picasso, LLC is a company that operates in the Museums, Historical Sites, and Similar Institutions industry and is based in Pensacola, Florida.
Are Ashley and Brittany Silfies sisters?
Ashley and Brittany Silfies are their names. In Alabama, there is a same-sex, multiracial couple.
They co-founded their sibling firms, Pink Picasso and Modern Monet, while working from home and raising our three children.
What additional supplies are needed?
The only other things kids will require are paper towels and a tiny cup of water to wipe in between paint colours.
Do paints need to be blended?
No, all of the paints have already been blended. Every colour value is given for them; no further colour blending or mixing is required.
Does the canvas need to be stretched, prepped, or primed?
No! They recommend painting it on any flat surface. Because the canvas is a cotton blend, it is ready to paint without any preparation or priming.
How to make the paint less thick?
If the paint has thickened, a few drops of Flow Improver can be added to make it simpler to work with.
How long does it take to complete a Pink Picasso Kit?
Everyone paints at their own pace. The time it takes to finish a Pink Picasso kit varies based on the kit design.
How long does it take for the paint to dry?
They utilize water-based acrylic paint, which dries to the touch in 10-15 minutes, depending on the thickness of the paint application.
Why do they use acrylic paint?
Acrylic paint is a non-toxic, water-based alternative that must be cleaned with water. It also has vibrant colours and a creamy feel when applied.
Should they clean their brush when they switching colours? How do they clean their brushes when they are done?
Yes, while changing colours, they will need to keep a cup of water and paper towels nearby to wipe their paintbrush. Rinse the paint-filled brush well in water.
Should they seal their completed Artwork?
It is not essential, but if they want to add protection against dust or filth, they may apply a light layer of clear acrylic sealer, which is available in a variety of finishes.
How much is Pink Picasso?
An adult kit costs $3.77 (plus $4 for shipping), wholesales for $19, and retails for $42.
