Susty Party Shark Net Worth 2023
What Is Susty Party?
Susty Party offers a collection of disposable party supplies, such as plates, bowls, napkins, and glasses, that are visually appealing. These supplies are made from renewable or sustainably sourced materials, which means that after use, they can be composted instead of being thrown away as garbage.
The brains behind Susty Party are Jessica Holsey and Emily Doubilet from Brooklyn, New York. Jessica, a Harvard Economics graduate, wanted to leave her job on Wall Street and utilize her degree more effectively.
Emily, a recent environmental studies graduate, teamed up with Jessica, and together they found a way to create their own business while still maintaining a festive atmosphere.
Who Is The founder Of Susty Party?
Jessica Holsey and Emily Doubilet, who shared a love for hosting events, founded Susty Party. The two met in Brooklyn, New York, and immediately started discussing business ideas.
In 2009, they launched Susty Party after realizing the amount of waste produced by disposable party products. They saw an opportunity to create and sell party supplies such as paper plates, cups, and napkins made entirely from sustainable and recycled materials, which are 100% biodegradable, making their disposal environmentally friendly.
Susty Party’s products are easily available on Amazon, Whole Foods Markets, Wegmans, and many other retail stores nationwide. In addition, they have a wholesale division that serves “qualified enterprises” like food services, event planners, and caterers.
Their party kits, which contain everything needed for 24 people in a single container, are among their most popular products, ensuring that no product goes to waste.
What Happened To Susty Party At Shark Tank Pitch?
On April 4th, during an episode of Shark Tank (episode 526), Jessica Holsey and Emily Doubilet will present their sustainable party supply company, Susty Party, in hopes of receiving capital investment and retail distribution expansion from the Sharks.
The two women entered the Shark Tank wearing fun crowns and even invited the Sharks to dance with them following their pitch. The women were seeking a $250,000 investment for a 10% stake in their company, which was valued at $2.5 million.
During their pitch, Emily revealed that their products were made on a contract basis and they were expecting sales to reach $1.5 million in 2013. However, they were already $80,000 in debt and only had $30,000 in their bank account, with $125,000 worth of inventory.
Kevin was skeptical, stating that they had no proprietary information, and Barbara agreed and was the first Shark to exit. Robert also exited, deeming the risk too great, and Lori, who had recently invested in a startup manufacturing disposable plates, also went out.
Kevin offered a loan of $250,000 in exchange for a 30% equity stake, but the women declined the offer. Mark expressed several reservations before also exiting the deal.
Kevin explained that “every path leads to Mr. Wonderful,” referring to himself, as he refused to move from his offer. Ultimately, the women left the presentation without reaching a deal.
What Happened To Susty Party After Shark Tank?
Less than two months after recording in September 2013, the team received a $500,000 investment for 8% of the business, which was before their April 2014 airing. They were successful in getting their products into Whole Foods Market and 276 Target locations for some time.
However, Emily and Erica left the company in 2016, and Julie Bell and Benton Keith now oversee it. Both of them are venture capitalists. It’s uncertain whether Emily and Erica sold their stock or simply delegated daily operations to someone else before leaving.
Nevertheless, their products are still available on Amazon, and the business is still operational, with yearly sales of $5 million as of February 2023.
Competitors of Susty Party
The main competitors of Susty party are Green Home, LLC, Letsgogreen, and Ecology America among others.
Net Worth of Susty Party
The company valuation was $2.5 million during and after the pitch. Since then the company has a net worth of $6.3 million.
Susty Party FAQs
What is Susty Party?
Susty Party is a company that is making sustainable party goods. The products that they make are paper plates, cups, napkins and plastic ware. They have a wholesale division as well as an online store.
Who is the founder?
Jessica and Emily created Susty Party; they were searching for a business that they could start while still being able to throw parties.
How much were they seeking on Shark Tank?
They were seeking for $200,000 for a 10% stake in the business, which is worth $2.5million.
Did they have the deal?
No, they did not secure the deal on the show.
Is the business still around?
They are still in business in February 2022 with $5 million in yearly sales.
Is Susty Party still making their products?
Their products are still available on Amazon, Wegmans and other retailers. They have a wholesale division as well.
How much are Susty Party?
Their products can be purchased on a number of different websites including Amazon, Whole Foods Market, and Target among others. They retail for between $5-$15 each depending on the size of the item.
Where is Susty Party located?
They are based out of Brooklyn, New York and the headquarters are in Williamsburg.
What is Susty Party target market?
Their target market is anyone that is interested in having a sustainable party. As well as any organization or business that wants to be more eco-friendly.
What are Susty Party’s products?
Their products consist of disposable paper plates, cups, and napkins and plastic ware. These products are made of renewable or fossil-fuel-based materials so that they can be recycled after they are used.
Is Susty Party successful?
They have been making their products since 2013 and are still in business as of February 2022.
What is Susty Party products made of?
Their products consist of paper and plastic. Some of their paper products are made from recycled materials and some of the plastic ware is made from renewable sources.
What does Susty Party do?
Susty Party supplies party goods, or disposable plates and napkins, to businesses and organizations. Some of these businesses include weddings, bridal showers, animal events, conferences and even bars. They also market all their products online via Amazon and Wegmans (the only two places they are sold).
Does Susty Party need to be reserved?
No, one does not need to reserve anything from Susty Party.
Will Susty Party deliver?
Yes, they will deliver anywhere in New York City.
What is the return policy of Susty Party?
They offer a full refund if the products are destroyed or are damaged within 60 days of purchase. However, if they are used and then sent back they must be clean and in good condition upon return. They will not send them a new product or refund their money if the product is dirty on return.
How do I pay for Susty Party?
They accept checks, credit cards and PayPal.
Who is the CEO?
Jessica Holsey is the CEO of the company.
What is the net worth of Jessica Holsey?
The net worth of Jessica is not known
What is the net worth of Emily Doubilet?
The net worth of Emily is not known.
