Pursecase Shark Tank Net Worth 2023
When Lori Greiner invested in The Pursecase company, its valuation dropped from $458,333 to $366,667. However, the company has since been performing well, generating annual revenue of $5 million in 2021.
Although the company is no longer in operation, it is possible that its net worth has increased due to its strong financial performance.
This suggests that even though the company is not currently operating, it may still hold significant value in terms of its assets and intellectual property.
It is also possible that the company’s brand recognition and reputation have contributed to its increased net worth, as consumers may still be interested in purchasing its products or licensing its technology.
Overall, while The Pursecase company may not be actively conducting business, its past success and continued financial performance may indicate that it still holds significant value.
What is Pursecase? Who is the founder of Pursecase?
Pursecase is a small yet stylish handbag designed to hold your phone and a few essential items such as cash, identification, and a couple of credit cards.
It was created by Jenn Deese and Kelley Couhlan and is available in a range of colors. The handbag features a trendy handle that doubles as a bracelet and includes a small mirror.
Despite its compact size, Pursecase exudes sophistication, thanks to its chain handle, which gives it a purse-like appearance and texture. It allows you to carry your phone and other essential items effortlessly while on the move.
Jenn Deese and Kelley Couhlan, who founded the Los Angeles-based PR agency Melrose PR, specialize in various industries such as health, beauty, travel, hospitality, fashion, and consumer goods.
Pursecase is a product created by Deese and Couhlan, which functions as a phone case with compartments for storing credit cards and cash.
In 2013, the founders successfully raised $35,114 through a Kickstarter campaign to fund their initial manufacturing run.
Currently, the product is available on their website in different colors and supports both iPhone and Samsung Galaxy, with plans to expand to other models in the future.
Pursecase Shark Tank Pitch
Jen and Kelley, the innovators behind Pursecase, a phone case that doubles as a wallet for storing credit cards and cash, appeared on Shark Tank with the aim of securing a $55,000 investment in exchange for a 12% stake in their company, which was valued at $458,333. They had already received $30,000 in pre-orders and projected annual earnings of $240,000.
Although Robert Herjavec and Barbara Corcoran raised concerns about the product’s originality and design, Kevin O’Leary proposed an offer of $55,000 with a $1 per unit fee until the investment was recouped, and $.75 per unit thereafter. Lori Greiner also offered $55,000 for a 15% stake, and Jen and Kelley accepted both proposals.
Following the show’s airing, Lori Greiner joined forces with Pursecase and rapidly generated sales through her QVC channel and a partnership with major technology retailer Staples, which extended the product’s reach to international markets. The company flourished, and Lori and Kelley ultimately bought out Jen’s shares.
The company was featured in episode four of Beyond the Tank and announced plans for a restructuring in 2022, but as of November 2021, the website is no longer operational, and the statement on their Facebook page remains visible.
Competitors of Pursecase
The main competitors of Pursecase are; Felt iPads Case, Silicon iPads Case and Sena Folio Case.
Net Worth of Pursecase
The company’s valuation dropped from $458,333 to $366,667 following an investment by Lori Greiner, but it has since been performing well with annual revenue of $5 million in 2021.
Despite the company no longer being in operation, its net worth may have grown.
Pursecase Shark Tank Updates
Pursecase appeared on Shark Tank Season 5 and made a deal with Lori Greiner. The entrepreneurs, Kelly Coughlan and Jenn Deese presented a phone case with a built-in purse and asked for $55,000 in exchange for 12% equity. Lori Greiner offered $55,000 for 15% equity, which the entrepreneurs accepted immediately.
The partnership with Lori Greiner was successful, and the product got picked up by a major technology accessories retailer, Staples, launching it into the international market.
However, the company faced challenges due to its rapid growth, and Kelly ended up buying out Jenn’s shares.
In 2015, Kelly was profiled in Season 2 Episode 11 of beyond the Tank, saying that the company was ready to get back on track. Unfortunately, the company ultimately went out of business1.
As of January 2023, Pursecase is no longer in business, and its website has been shut down many times throughout the year.
Pursecase Shark Tank Table Summary:
| INFORMATION | DETAILS |
| Product | Pursecase, a handbag designed to hold a phone and a few essential items |
| Founders | Jenn Deese and Kelley Couhlan, co-founders of Melrose PR |
| Shark Tank Investment | $55,000 for a 15% stake by Lori Greiner |
| Company Valuation | $458,333 prior to the investment, dropped to $366,667 after the investment |
| Revenue | $5 million in 2021 |
| Competitors | Felt iPads Case, Silicon iPads Case, and Sena Folio Case |
| Updates | The company is no longer in operation as of January 2023 |
| Net Worth | The company’s net worth may have grown despite not being in operation |
| Shark Tank investment | Secured a $55,000 investment for a 15% stake from Lori Greiner |
| Competitors | Felt iPads Case, Silicon iPads Case, and Sena Folio Case |
| Status | Company is no longer in operation |
| Future plans | Restructuring in 2022 (but not completed) |
| Partnership | QVC channel and a partnership with major technology retailer Staples |
Pursecase FAQs
What Is Pursecase And How Does It Work?
Pursecase is a phone case that doubles as a purse, designed by Jenn Deese and Kelley Coughlan. The case has a strap and pockets for storing credit cards, cash, and other small items while on the go. The backside of the Pursecase is the purse and comes in a variety of colors.
The front side has a phone screen. The case also has a bracelet handle mirror. Pursecase ran a successful Kickstarter campaign and had roughly $30,000 in pre-orders before appearing on Shark Tank.
On the show, Pursecase secured an investment from Lori Greiner and had some success after the show, with sales quickly topping $400,000.
Pursecase was later sold through QVC, retailers like Staples, and international distributors. However, as of January 2023, the company is no longer in business. The company’s website has been shut down multiple times throughout the year.
Who is the founder?
Jenn Deese and Kelley Couhlan are the co-founders of Melrose PR.
What Was The Outcome Of Pursecase Shark Tank Pitch?
Pursecase appeared on Shark Tank Season 5 and made a deal with Lori Greiner for $55,000 in exchange for 15% equity.
The partnership with Lori Greiner was exactly what the entrepreneurs wanted, and it paid off quickly. Not only did Greiner make sales through her QVC platform, but the product also got picked up by major technology accessories retailer, Staples, launching it into the international market.
However, as of January 2023, the company is no longer in business. The site is down, and Kelley no longer lists Pursecase on her LinkedIn profile.
Did Pursecase Receive Investment From Any Of The Sharks?
Yes, Pursecase received an investment from Lori Greiner on Shark Tank Season 5. The entrepreneurs, Kelly Coughlan and Jenn Deese, asked for $55,000 in exchange for 12% equity, and Lori Greiner offered $55,000 in exchange for 15% equity.
The deal was made, and the partnership with Lori Greiner helped the product get picked up by major technology accessories retailer, Staples, launching it into the international market. However, as of January 2023, the company is no longer in business.
What Happened To Pursecase After Its Appearance In The Shark Tank?
After appearing on Shark Tank, Pursecase received an investment of $55,000 from Lori Greiner in exchange for 15% equity.
The partnership with Lori Greiner was successful, and the product got picked up by a major technology accessories retailer, Staples, launching it into the international market. The company was generating an annual revenue of $5 million in 20215.
However, the company’s website has been shut down multiple times throughout the year, and as of January 2023, the company is no longer in business.
The entrepreneurs faced challenges with the company’s rapid growth, and Kelly ended up buying out Jenn’s shares.
In 2015, Kelly was profiled in Season 2 Episode 11 of Beyond the Tank, saying that the company was ready to get back on track, but unfortunately, the company ultimately went out of business.
How much were asking on Shark Tank?
They were asking $55,000 for 12% of the company
What was the deal with Pursecase?
They made a $55,000 investment in return for a 15% stake in the company.
Is Pursecase still in business?
As of November 2021, the website has been discontinued. Therefore they will track this firm and update their status in 2022.
Where can I buy Pursecase?
Nowadays there is no where customers can buy Pursecase.
Is Pursecase Available in Stores?
The Pursecase is not available in stores.
How much does Pursecase cost?
The case cost around $50
Where is Pursecase offices located?
Pursecase corporate offices are located at 13775 Magnolia Ave, Unit B, and Chino, California 91710.
What is the phone number for Pursecase?
Pursecase may be reached at (310) 260-7941.
What is the official website of Pursecase?
The official Pursecase website is located at /www.pursecase.com, but currently unavailable.
How many employees does Pursecase have?
Pursecase employs 27 people, and because the company is not operating hence the number of employees is currently unknown.
What industry does Pursecase operate in?
Pursecase is a retailer of Apparel & Accessories.
What is the technology stack used by Pursecase?
Pursecase makes use of the following technologies: DoubleClick Bid Manager, Apache HTTP Server, Tweet Button, and SEDO Parking.
Was Pursecase scam?
At present, information regarding the legitimacy of Pursecase is available and it is safe to say that Pursecase is not a scam.
Was Pursecase profitable?
It is yet to be determined.
How many Pursecase stores are there?
As of November 2022, there are no stores open.
What is the revenue of Pursecase?
From the start of production till December 2021, the revenue generated was $5 million.
Where can I find knowledge base for Pursecase?
Currently there is no quantifiable research available. As soon as this information comes available they will update this section with information and will add in their knowledge base page.
What is the net worth of Jenn Deese?
Jenn Deese net worth is $16 Million.
What is the net worth of Kelley Coughlan?
Kelley Coughlan net worth is $1.1 Million
