ReTold Recycling Shark Tank Net Worth | What Happened After Shark Tank

What Is ReTold Recycling Shark Tank Net Worth 2023?

Retold Recycling appeared on Shark Tank episode 14 14 seeking an investor for their business and received a $300,000 deal in exchange for a 25% stake in their company from Mark Cuban. The net worth of Retold Recycling is based on a valuation is $1.2 million.

Initially, Alan Yeoh and Amelia Trumble from Retold Recycling had valued the company at $2 million asked the Sharks for $300,000 in exchange for 15% equity.

The company launched in 2020 and generated only $12,000 that year. However, sales increased to $175,000 in the following year, and they projected $500,000 in sales for the year of filming.

What is ReTold Recycling

ReTold Recycling is a clothing and fabric recycling service that was started in 2019 by Alan Yeoh and Amelia Trumble. The company offers a mail-in recycling service for old clothing and other household textiles, which they distribute to charities, thrift stores, reuse partners, up-cyclers, rag companies, and more.

They have saved over 20 tons of textiles from going into landfills so far.

ReTold Recycling sells bags for sending recyclables to them with; a three pack costs $41.50, a 10 pack is $129.50 and a solo bag is $14.50.

Retold Recycling sends a postage-paid envelope to customers who pay $14.50 for the bag. The customer then fills the bag with approximately 5 pounds of textiles and drops it in the mailbox. The textiles are then sorted before being sold to thrift stores, textile up cyclers, and recyclers.

Alan informed the sharks that the company launched in 2020 and generated only $12,000 that year. However, sales increased to $175,000 in the following year, and they projected $500,000 in sales for the year of filming.

Who Founded ReTold Recycling?

Alan Yeoh and Amelia Trumble are the founders of ReTold Recycling, a clothing and fabric recycling service that seeks to divert as much old clothing from landfills as possible.

The two met while working at MAC Cosmetics between 2012 and 2016. Alan has an extensive background in Customer Relations Management, while Amelia has a background in digital marketing. ReTold Recycling is a mail-in recycling service for old clothing and other household textiles.

They distribute the items to charities, thrift stores, reuse partners, up-cyclers, rag companies and more. To date, they have saved over 20 tons of textiles from going into landfills.

The company makes money by selling postage prepaid bags made from compostable cornstarch “plastic” that hold about 5 pounds of clothes. They also offer a subscription service with discounts and a rewards program that gives customers points they can redeem at one of their partner businesses.

ReTold Recycling Shark Tank Pitch

Alan Yeoh and Amelia Trumble created Retold Recycling, a mail-in textile recycling service that makes it convenient for customers to recycle unwanted clothes and household textiles.

Retold Recycling mails a postage-paid envelope to customers who pay $14.50 for the bag. The clothes are then carefully sorted before being sold to thrift stores, textile up cyclers, and recyclers.

The company had seen an increase in sales since its launch in 2020 with $12,000 in sales that year and $175,000 the following year. In the year of filming they were projecting $500,000 in sales

Alan Yeoh and Amelia Trumble from Retold Recycling sought from the Sharks a $300,000 in exchange for 15% equity.

They asked the Sharks for $300,000 in exchange for 15% equity, but Mark Cuban offered them $300,000 for 25% equity which they accepted. Since then, the company has continued to grow and is still in business.

During Shark Tank Season 14, Alan and Amelia presented their mail service textile recycling company, Retold Recycling, which offers a convenient way for individuals to recycle unwanted textile items, thus reducing waste in landfills.

They explained that some textiles are not suitable for donation to charities and therefore their service offers a great option.

Furthermore, they are starting to collaborate with clothing brands that want to provide this option to their customers.

Since then, Retold Recycling has continued to grow, with Alan and Amelia still working hard to expand their business with the help of the exposure gained from Shark Tank and the support of their fans.