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

 

The Woobles Shark Tank Updates

The Woobles is a crochet kit business that teaches beginners how to crochet with step-by-step instructional videos. The kits include crochet hooks, stuffing, yarn needles, and other accessories.

The Woobles appeared on Shark Tank during Season 14 Episode 2 and secured a deal with Lori Greiner and Mark Cuban for $450,000 for 6% equity. Since then, The Woobles has expanded to new locations, including online and retail stores around the United States.

The Woobles has also published an independent book and is continuing to look for new ways to expand its business.

Adrian Zhang and Justine Tiu started The Woobles with only a $200 investment, and it is now worth $5.3 million. The Woobles has taught crochet to a total of 100,000 people. In September 2022, Adrian started running The Woobles business full time.

Mark Cuban has said that The Woobles is on track to make $7 million in sales. The Woobles offers kits for beginners that come with “easy peasy” yarn, access to online tutorials, email consultation, virtual office hours, and more.

Kits cost $30, and they have bundles with 2, 3, or 4 animals at varying prices. The Woobles has 6-9 “regular” animals and drops limited edition Woobles periodically.

How Does The Woobles Works?

The Woobles is a crafting kit business that offers patterns, step-by-step video tutorials, and materials needed to participate in amigurumi crochet, the Japanese fiber art form, even for complete beginners.

Each kit comes with enough materials to make one Wooble, including a step-by-step guide with video tutorials that teach you how to crochet your Wooble and yarn that’s been pre-started so you can jump into learning the basic stitches.

The Woobles has a Facebook community where you can check out what your fellow Wooblers have been up to and ask questions.

The Woobles crochet kits are designed to be easy to use, even for complete beginners. Their beginner kits take anywhere between 3-8 hours. The kit includes everything you need to get started crocheting, from supplies to lessons all in a prepackaged kit. The finished products look store-bought and make fun gifts.

The Woobles has appeared on Shark Tank and is growing their business. They also have a book available for purchase. The Woobles is a great option for anyone interested in learning amigurumi crochet, whether you’re a complete beginner or an experienced crafter looking for a fun new project.

Table: The Woobles Shark Tank Summary

INFORMATION	DETAILS
Business	The Woobles crochet kit business
Founders	Justine Tiu and Adrian Zhang
Investment on Shark Tank	$450,000
Equity offered on Shark Tank	6%
Season and Episode of Shark Tank appearance	Season 14 Episode 2
Sales in the past year	$3.1 million
Lifetime sales as of September 2022	$5.3 million
Valuation	Estimated to be $2.1 million or $7.5 million in 2023
Products	Crochet kits for amigurumi
Price range of kits	$30
Animals available	6-9 “regular” animals and limited edition Woobles
Business expansion	New locations including online and retail stores
Other offerings	Independent book
Founders’ initial investment	$200
Total people taught to crochet	100,000
Adrian Zhang full-time in the business	September 2022

What Is The Current Valuation Of The Woobles?

The Woobles is a crochet kits business that teaches how to make handmade gifts using crochet. The company appeared on Shark Tank Season 14 Episode 2 and got a deal with Mark Cuban and Lori Greiner.

The founders, Justine Tiu and Adrian Zhang, started the business in July 2020 with $200 worth of yarn and a domain name. As of September 2022, The Woobles has generated $5.3 million in lifetime sales and was on track to make $7 million in annual revenue.

There are conflicting reports on the current valuation of The Woobles. One source states that the net worth of The Woobles is currently around $2.1 million, while another source reports that the company is valued at $7.5 million as of 2023.

It is unclear which source is more accurate, as both sources provide different information on the net worth of The Woobles.

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.