The Woobles Shark Tank Net Worth-What Happened After the Shark Tank?

What Is Woobles Shark Tank And Who Founded Woobles Shark Tank?

The Woobles is a Cary-based company that creates crochet training kits featuring cute characters.

The company was founded by Justine Tiu and Adrian Zhang, who are the wife and husband team.

The Woobles appeared on Shark Tank in October 2022 and secured a deal for $450,000 in exchange for a 6% equity stake in their company with Mark Cuban and Lori Greiner.

The Sharks were impressed by the company’s revenue of $3.1 million in the past year and $5.3 million in lifetime revenue since launching two years prior.

The Woobles’ kits are designed for beginners and come with “easy peasy” yarn, a crochet hook, stuffing, eyes, access to online tutorials, email consultation, virtual office hours, and more.

Each kit costs around $30 and includes everything needed to make the creation oneself. The company sells six core animals along with some special edition kits.

What Happened To Woobles At Shark Tank?

Justine and Adrian, a couple who own Woobles Company, entered Shark Tank seeking $250,000 investment for a 5% equity stake, which valued their company at $5 million. During their pitch, they shared their business idea and the story behind it.

The product they were selling had a landed cost of $3, a wholesale price of $15, and a retail price of $30. They also revealed that 90% of their sales were direct-to-consumer and generated through their website.

Interestingly, Woobles Company started with only $200 worth of yarn and a domain name just two years ago. As of now, their business has grown to be worth $5.3 million, leaving the sharks in complete surprise. Kevin was especially impressed, calling it “incredible.”

Mark Cuban and Lori Greiner made a deal with the couple for $450,000 in exchange for 6% equity in the company. However, the deal ultimately fell through and did not close.

Cuban later explained that the deal didn’t happen because he and Greiner couldn’t agree on terms with the founders. Despite this setback, The Woobles has continued to grow and has received over 1,700 five-star reviews on its website.

What Happened To Woobles After Shark Tank?

The deal between Woobles and Mark Cuban and Lori Greiner on Shark Tank did not close. Mark Cuban reacted to the failed deal. There is no official evidence that the deal closed after the episode aired.

However, Woobles sold a special ‘Tank’ the Shark Wooble Beginner Kit on show night and sold out. The Woobles began with $200 worth of yarn two years ago and is now on track to make $7 million, according to what the pair told the show.

The Woobles Shark Tank Net Worth

As of September 30, 2022, The Woobles is still in business and estimated to be worth $7.5 million. The Woobles is a company founded by Justine Tiu and Adrian (Xinli) Zhang in July 2020 that creates fun and simple kits to teach people how to crochet.

In an episode of Shark Tank USA, they asked for $250K for a 5% equity deal, but Mark Cuban and Lori Greiner offered $450K for a 6% equity deal instead, resulting in an estimated $7.5 million valuation.

The Woobles is a company that sells crochet kits to make plushies. The founders, Justine Tiu and Adrian Zhang, appeared on Shark Tank in September 2022 asking for an investment of $250,000 for 5% equity, valuing the business at $5 million.

Is Woobles Still In Business?

Yes, Woobles is still in business as of November 2022 with expanding crochet kits and guides to new locations, including online and retail stores around the United States.

The demand for their beginner kit has been so popular that orders are delayed until late 2022. According to Shark Tank Talks, Woobles has taught crochet to a total of 100,000 people and is planning to teach more people in the coming months.

They secured a deal with Mark Cuban and Lori Greiner for $450,000 for 6% equity, valuing the company at $7.5 million. According to what the founders told the show, The Woobles was on track to make $7 million in revenue.

Woobles’ sales are increasing well, and its net worth is currently around $7.5 million. Woobles’ business was highly favored in Shark Tank with all the sharks showing a lot of interest in investing in it.

The entrepreneur had signed a deal with Mark & Lori but Barbara & Robert were surprised by it.