Seriously Slime Shark Tank Update | What happened to Seriously Slime after the Shark Tank Pitch
What is Seriously Slime?
Seriously Slime offers slime-making kits for children that include all the necessary materials like glue, activator, shaving cream, containers, stirrers, and more.
They also have pre-made slime kits and birthday party kits available for purchase. Customers can also visit one of their locations to make their own slime.
Who is the brains behind Seriously Slime?
Seriously Slime was created by Sara McDermott and Shannon Valko, two mothers who were inspired to start the business after seeing their children’s love for slime.
The company was founded in 2019 to address the messiness associated with playing with slime.
McDermott holds a bachelor’s degree in communications from Marquette University and has experience in human resources.
Valko has an MBA in marketing from Loyola University Chicago’s Quinlan School of Business and has owned her own café and served as COO for The Kindness Connection.
Currently, Seriously Slime offers two physical locations for children to play and make slime, and also offers franchise opportunities for mobile or pop-up shop locations.
The popularity of slime has been on the rise since Mattel’s release of the toy in 1978 and the emergence of instructional YouTube videos.
What happened to Seriously Slime at the Shark Tank Pitch?
On Shark Tank season 11 episode 19, Shannon and Sarah pitch their business, seeking $90,000 for a 15% stake, which values the company at $600,000.
They tell the Sharks that their plan is to move into licensing after discussing their business and providing samples.
However, the Sharks express doubt about the licensing strategy and express concern about the company’s limited income and early stage of development.
The Sharks suggest that Shannon and Sarah focus on building their brand before expanding to places such as malls, which are currently facing low foot traffic.
Ultimately, the Sharks decide not to make an offer, believing that the business has potential but is not a financially viable venture.
Seriously Slime after the Shark Tank Pitch
The industry was greatly affected by the Covid–19 pandemic. Their fundraising campaign on Kickstarter for the product “Slime Baby” was unsuccessful, and they had to shut down their physical stores during the outbreak.
However, they found some success with hosting virtual slime parties every Friday from 5:30 to 6:30 p.m. that cost either $5 to attend or $25 with a kit purchase.
Despite reopening their retail locations in the fall, they continue to face intermittent government-mandated lockdowns. They were able to reopen in July 2021.
Seriously Slime Net worth
Shannon and Sarah appear on Shark Tank season 11 episode 19 in search of $90,000 for a 15% stake. This represents a $600,000 valuation.
Seriously Slime Competitors
There is competitor identified for Seriously Slime.
Seriously Slime FAQS
What is Seriously Slime?
Seriously Slime mainly provides slime-making kits for youngsters. All of the essential slime materials, such as glue, shaving cream, Seriously Slime activator, stirrers, containers, and more, are included in the slime kits.
Who founded Seriously Slime?
Seriously Slime is the brainchild of Shannon Valko and Sara McDermott. The duo were motivated to establish the business after witnessing their children’s infatuation with slime.
How much was they seeking in the Shark Tank?
The shark requested $90,000 for a 15% stake in the business. This represents a $600,000 valuation.
Did they get the deal from the Sharks?
No, they didn’t secure any investment from the Sharks
Is Seriously Slime still in business?
Yes, they are in business but their retail locations have been shut down by the government. They are currently holding a virtual slime party every Friday from 5:30 to 6:30 p.m. and cost $5 to attend, or $25 if they purchase one of their kits.
What is the Seriously Slime Website?
Seriously Slime has a website at www.seriouslyslime.com
How can they contact Seriously Slime?
Seriously Slime contact information is available on their website at www.seriouslyslime.com.
What episode was Seriously Slime featured on Shark Tank?
Seriously Slime was featured on episode 19 season 11 of Shark Tank which aired on April 10th, 2020.
Where is Seriously Slime located?
Seriously Slime, situated in Evanston, creates bespoke slime kits and offers slime parties for children in retail locations.
How much does Seriously Slime costs?
The price of a ready-made Decorative Crystal Slime Kit is roughly $22.
Depending on the options, the DIY Slime Kit ranges in price from $29.99 to $39.99.
Birthday Party Kit, customized, ranging in price from $195.00 to $340.00 depending on customization.
How was the seriously slime idea born?
Slime-making is increasingly popular among children these days, and the inventors, Shannon Valko and Sarah McDermott, witnessed their girls go crazy for slime.
Where are they selling now?
They had some success with virtual slime parties throughout the summer. The parties are held every Friday from 5:30 to 6:30 p.m. and cost $5 to attend, or $25 if you purchase one of their kits.
How much did get on Kickstarter?
They did not receive funding on Kickstarter for their Slime Baby, and they closed their retail locations during the epidemic.
How is the business model for Seriously Slime?
Their business model is a retail store where customers may purchase slime-making kits, as well as in-store and private parties.
They also offer franchisee opportunities to own one of their locations and sell their products.
How do they choose what ingredients they will put in their slime?
They always ensure their recipes are non-toxic and kid-friendly before adding new ingredients to their mix.
What is the net worth of Sara McDermott?
Sara McDermott’s net worth is unavailable.
What is the net worth of Shannon Valko?
Shannon Valko’s net worth is unavailable.
