Sun-Staches Shark Tank Net Worth 2023
Sun-Staches is a novelty sunglass company founded by three college friends in 2011. In October 2014, they appeared on Shark Tank and secured a deal with investor Daymond John for $300,000 for a 20% stake.
Since then, Sun-Staches has experienced tremendous growth and success. They have secured additional funding and partnerships, leading to an estimated net worth of 11 Million USD as of 2023.
Sun-Staches has also seen success through licensing deals with companies such as Marvel, which has helped them generate $4.2 million in sales in just 5 months.
Additionally, their products have been worn by celebrities such as Justin Bieber, leading to increased brand recognition and sales.
What is Sun-Staches? Who is the Founder of Sun-Staches?
Sun-Staches are a type of sunglasses that come in various quirky designs and patterns. These plastic sunglasses have additional components that either hang down over the face or pop up over the forehead, making them a novelty item that can add a fun element to any outfit.
These sunglasses are available in designs for both children and adults, with options that can transform the wearer into a football player, Santa Claus, a cat, a firefighter, or a cowboy, among other characters. The designs are highly detailed, with many creative elements that make them stand out.
The creators of Sun-Staches, Dan Gershon, David Levich, and Eric Liberman, were high school friends. While David started by selling watches, he eventually enlisted the help of his buddies to capitalize on the growing market for sunglasses.
The idea for Sun-Staches came about as a joke when they decided to help a friend who couldn’t grow a mustache by sticking one on a pair of sunglasses.
This sparked the creation of a series of novelty sunglasses with mustaches attached, which later evolved into themed sunglasses.
With a humble investment of just $200, the trio went on to create a whole array of characters, including licensed designs featuring sports teams like the Ninja Turtles.
Sun-Staches quickly gained popularity and became a hit with customers ranging from Bill Murray to Justin Bieber, and they were available at retailers such as Amazon, Urban Outfitters, Toys R Us, and Party City.
What happened to Sun-Staches at the Shark Tank Pitch?
David, Eric, and Dan appear on Shark Tank Season 6 Episode 5 in search of $300,000 in exchange for 5% equity. This represents a $6 million valuation.
The Sharks are taken aback by that number and amused by the items, but the expressions on their faces indicate that they are not taking them seriously.
They distribute sample Sun-Staches, including a cowboy for Robert, a black cat for Lori, a devil for Mr. Wonderful, a football helmet for Daymond, and a leprauchaun for Mark (who refused to wear it).
When the Sun-Staches folks inform the Sharks they made $5.7 million in sales last year, the Sharks take notice.
They sell online as well as at specialty stores such as Toys R Us and Party City. The goods retail for $7.99 to $12.99, and they are made for $0.75 to $1.50 apiece.
The Sharks enjoy the profit margins and the $750,000 in revenue.
Mr. Wonderful disagrees with the estimate, believing they are worth $2.5 million. The men then inform them that Target wants them in ALL of their shops. Sun-Staches’ main game is licensing, which is why they want a Shark.
Lori Greiner indicated that she was out because she didn’t feel enthused or passionate about the product.
Mr. Wonderful shortly followed, indicating that he, too, was leaving since he thought they were not going to reassess their firm to a pricing range he agreed with.
According to Robert Herjavec, you are in love with the future, but you must be realistic about where you are now. He’s gone.
The boys want to hear an offer, and Mark wants to know the bottom line. Mr. Wonderful advises they ask for $300,000 for 20% and then reduce it to 10%. Right before the break, Daymond states they’re ready to flush the toilet.
When they return, Daymond offers to assist with licensing and $300,000 for a 25% stake; he promises to take them to $20 million in a year or two.
The boys respond with $300,000 for a 12 percent stake in a partnership with Mark and Daymond, but Mark withdraws.
They challenge Daymond with $300,000 for 15%, Daymond answers with 20% and requests a quick response, they react with 17%, but Daymond remains strong at 20%, and they reach an agreement.
Sun-Staches after the Shark Tank Pitch
In the episode 627 update, Daymond reveals that he landed a licensing deal with Marvel for Sun-Staches! Even without the deal, they’ve sold $4.2 million in just 5 months.
Sun-Staches apparently tried to license with Marvel before, but they were turned down. It was made possible by Daymond and the Shark Tank effect.
Daymond hosts Bombas, MySelf Belts, Sun-Staches, and Cozy Bug at an entrepreneur workshop about increasing internet sales in an episode 712 update segment.
Celebrity chef Rocco DiSpirito is cooking for the group and providing social media advice. According to him, businesses must constantly engage fans in order to increase sales.
They share a gourmet meal, and Daymond claims that these businesses have made over $11 million in sales since appearing on Shark Tank.
He believes they are all going to a whole new level.
Fast forward to November 2021, and the company is still chugging along with a yearly revenue of $5 million.
Sun-Staches Net Worth
The Company Net Worth is $11 million.
There is no competitor identified for Sun-Staches.
Sun-Staches Shark Tank Updates
Sun-Staches is a novelty sunglass company that appeared on Shark Tank Season 6 Episode 5. The company was founded by three college friends in 2011. During their pitch, they asked for $300,000 in exchange for 5% equity, which represented a $6 million valuation.
The sharks were impressed with the company’s gross revenue of $5.7 million during the year of filming. Daymond John made a deal with Sun-Staches for $300,000 for a 20% stake.
In an episode 712 update segment, Daymond hosted Sun-Staches at an entrepreneurs workshop about increasing internet sales. In the update, Daymond revealed that he landed a licensing deal with Marvel for Sun-Staches.
Even without the deal, they had sold $4.2 million in just a few months. As of October 2022, the company was still chugging along with $5 million in annual revenue.
In conclusion, Sun-Staches made a deal with Daymond John on Shark Tank for $300,000 for a 20% stake. Daymond later landed a licensing deal with Marvel for Sun-Staches. As of October 2022, the company had $5 million in annual revenue.
Sun-Staches Shark Tank Table Summary:
|Founders||Dan Gershon, David Levich, and Eric Liberman|
|Product||Novelty sunglasses in quirky designs and patterns|
|Shark Tank Deal||$300,000 for a 20% stake with Daymond John|
|Valuation||$6 million (pre-deal), estimated net worth of $11 million as of 2023|
|Licensing||Deals with Marvel and sports teams|
|Sales||$5.7 million in the previous year of Shark Tank pitch, $4.2 million in 5 months post-show|
|Retailers||Amazon, Urban Outfitters, Toys R Us, and Party City|
|Celebrity Endorsements||Justin Bieber and Bill Murray|
What Is Sun-Staches And How Does It Work?
Sun-Staches is a company that creates innovative and transformative novelty eyewear and party glasses. They are not interested in creating mundane sunglasses that have been seen time and time again, but instead, they aim to create protective UV glasses in the most outrageous, fun, and unique way.
Sun-Staches provide 100% UV 400 protection to protect the eyes from the sun’s harsh UV rays and keep them extra safe with impact-resistant. Sun-Staches sunglasses are available for purchase on various online platforms such as Amazon and Walmart.
Who is the founder of Sun-Staches?
Sun-Staches was founded by Dan Gershon, David Levich, and Eric Liberman.
What Is The Story Behind Sun Staches’ Founding?
Sun-Staches was founded in 2011 by three best friends from high school, Dan Gershon, David Levich, and Eric Liberman, on a quest to make the world smile. The idea for Sun-Staches came from attaching a fake mustache onto a pair of sunglasses to give to a friend.
The founders started experimenting with other ways to dress up regular sunglasses and expanded their product line to include all sorts of characters from cowboys to pirates and licensed Sun-Staches with everything from sports teams to Ninja Turtles.
During their appearance on Shark Tank, Sun-Staches was seeking $300,000 for a 5% equity stake from the Sharks. They secured a deal with Daymond John for $300,000 for a 20% stake in the company.
Sun-Staches has since partnered with popular licenses such as Disney, Marvel, DC Comics, Nickelodeon, Universal, and Pokemon.
What Was The Outcome Of The Sun-Staches Shark Tank Pitch?
Sun-Staches appeared on Shark Tank in season 6 and made a deal with Daymond John for $300,000 for a 20% stake in the company. The entrepreneurs were seeking $300,000 for a 5% equity, which represented a $6 million valuation.
During the pitch, the trio handed out samples of Sun-Staches to the Sharks, and they were impressed with the company’s margins. Sun-Staches had made $5.7 million in sales the previous year, and they sold online as well as at specialty stores such as Toys R Us and Party City.
After the Shark Tank appearance, Sun-Staches’ sales increased from $5.7 million to more than $20 million. Daymond John also landed a licensing deal with Marvel for Sun-Staches. The company has become successful and is currently worth $11 million.
What Happened To Sun-Staches After Its Appearance At The Shark Tank?
After appearing on Shark Tank and securing a deal with Daymond John for $300,000 for a 20% stake, Sun-Staches has experienced significant growth. Sales increased from $5.7 million to more than $20 million. Sun-Staches also landed a licensing deal with Marvel.
The company’s novelty eyewear and party glasses are sold online and at specialty stores such as Toys R Us and Party City, with prices ranging from $7.99 to $12.99. Sun-Staches continues to create innovative and transformative designs.
How much were they seeking in the Shark Tank?
They asked for $300,000 in return for 5% equity.
Did they get the deal from the Shark Tank?
They did! They received a $300,000 offer from Daymond John for 20% equity.
Is Sun-Staches still in business?
Yes, As of November 2021, and the company is still chugging along with a yearly revenue of $5 million.
What episode of Shark Tank was Sun-Staches featured?
They were on Season 6 episode 5.
How much is the company worth?
They are worth $11 million.
When was Sun-Staches on Shark Tank?
They were on Shark Tank on October 17th, 2014.
Can they track their package?
Yes! They will get an email with their tracking number once their item has been finalized and is ready for dispatch.
Do they offer free shipping?
They do provide free delivery to the United States on all orders over $25.
Do they ship internationally?
They are currently unable to ship worldwide. They are working on a solution to make this work and will provide an update as soon as possible.
Do they have Party Favour packs available?
Yes! All of their $7.99 kids’ sunglasses are available in 3 and 6 pack quantities, making them ideal for any birthday celebration.
These packs may be found in the quantity drop-down box on each Lil’ Character product page.
They would like to place a bulk order of Sun-Staches. Where should they go to do that?
They’d be delighted to chat with them, whether they’re a shop owner or a distributor. Please contact [email protected] and they will assist them.
What is the net worth of Dan Gershon?
Dan Gershon’s net worth is unavailable.
What is the net worth of Dave Levich?
Dave Levich’s net worth is unavailable.
What is the net worth of Eric Liberman?
Eric Liberman’s net worth is unavailable.