Tristen Ikaika Ring Net Worth
During the Shark Tank pitch, Tristen Ikaika Ring had a company valuation of $5 million. However, after accepting Kevin’s offer of $250,000 in exchange for 15% equity, the company’s valuation was recalculated to be $1.7 million.
This means that the investment made by Kevin accounted for a significant portion of the company’s overall value. Despite this lower valuation, Tristen Ikaika Ring was still a thriving business, having made $2.3 million in lifetime sales and with projected revenues of $575,000 in July 2021.
What is Tristen Ikaika Ring and Who is the founder of Tristen Ikaika Ring?
Tristen Ikaika Ring is a company that produces and distributes the SAD BOI ring, which is inspired by Tristen Amal Ikaikamaikai’ikaneokalani Persons’ personal experiences growing up with an ill father.
Tristen, also known as Tristen Ikaika, is the founder of the company, which he established in 2017.
He started as an Instagram travel influencer, and it was during a European vacation while in high school that his Instagram posts began to attract a significant following. People inquired about the rings he wore in his photos, which he had been making out of old spoons (and sometimes forks) since he was 12 years old.
Tristen Ikaika began selling ring collections on his website that sold out within minutes, quickly earning him the nickname “Ring King.” He has a loyal following of over 70,000 fans, and his rings are highly coveted.
Tristen Ikaika only sells a limited number of each ring in “drops,” so people set alarms to ensure they can purchase the latest rings. The company has developed a cult-like following, which has helped to propel Tristen Ikaika to over $5 million in sales in just a few years.
As part of his entirely organic marketing plan, Tristen Ikaika travels the world searching for one-of-a-kind spoons for his rings. He also frequents thrift stores, yard sales, and even the homes of his friends’ parents and grandparents.
He writes blog entries describing the spoons’ origins and the date of his upcoming drops, which are highly anticipated by his fans. The rings are priced between $50 and $65, depending on the style and material used.
Tristen Ikaika Ring Shark Tank pitch
Tristen Ikaika, the founder of the ring company, appeared on Shark Tank episode 1305 to pitch his spoon-shaped rings and seek Shark’s help in expanding his paid marketing efforts and growing his brand. He asked for $250,000 in exchange for a 5% stake in his $5 million company.
During the pitch, Tristen showcased his unique rings, which he sells through “drops” which are internet shopping frenzy events that sell out in minutes. He explained that he started by crafting them out of spoons but now commissions a factory to create rings based on his ideas.
The Sharks were impressed with Tristen’s rings, and Daymond commented on their beauty. However, Lori did not find the company investable and went out, while Daymond also quit, saying that any offer from him would be excessive.
Kevin offered $250,000 for 50% equity and required Tristen to get keyman insurance, but the other Sharks cast doubt on his offer.
Barbara then offered $250,000 for 20% equity shares, while Kevin offered the same for 15% equity shares, comparing himself to a patron who finances an artist. Tristen accepted Kevin’s offer and left the pitch with a deal.
After the episode aired, the deal with Kevin underwent due diligence, and as of February 2022, Tristen Ikaika Ring is still in business.
Competitors of Tristen Ikaika Ring
The primary competitor of Tristen Ikaika is Genuine sandalwood rings.
Net Worth of Tristen Ikaika Ring
The company valuation was $5 million during the pitch, after the investment done by Kevin the company was worth $1.7 million.
Since then the company is still in business and hence the company’s net worth might be higher than that of the pitch.
Tristen Ikaika Ring Shark Tank Updates
Tristen Ikaika is a jewelry designer who gained attention as an influencer on Instagram for his unique rings, handcrafted from thrift store spoons. He appeared on Shark Tank in season 13, episode 12, seeking $250,000 in exchange for 5% of his company’s shares.
After sharing his story with the Sharks, Kevin O’Leary offered him $250,000 for 15% equity. However, the deal did not close until June 2022.
Sales in the month following the original air date grew by 354%. As of May 2022, the deal with Kevin had not closed, though Tristen is quoted as calling him “incredibly kind”. In July 2021, Tristen revealed lifetime sales of $2.3 million.
Tristen Ikaika’s company has expanded to include rings made from a host of recycled materials4. His limited-edition ring drops sell out quickly, leaving customers wanting more. As of 2023, Tristen Ikaika has many lines of jewelry that are sold in stores and online, and his company is worth millions of dollars.
He has continued to grow his social media following and now has over 140,000 followers on Instagram. It seems that the Tristen Ikaika brand is still thriving.
Tristen Ikaika Ring Net Worth and Shark Tank Updates
|Tristen Ikaika Ring
|Valuation during Shark Tank
|The investment made by Kevin
|$250,000 for 15% equity
|Recalculated valuation after Kevin’s investment
|Lifetime sales as of July 2021
|Projected revenue in July 2021
|Genuine sandalwood rings
|Shark Tank Pitch Outcome
|Deal closed with Kevin for $250,000 for 15% equity
|Deal with Kevin did not close until June 2022, company worth millions of dollars, and has expanded to include other jewelry lines made from recycled materials.
Tristen Ikaika Ring FAQs
What Is Tristen Ikaika Ring And How Does It Work?
Tristen Ikaika is a jewelry entrepreneur who appeared on Shark Tank with his ring business. He makes limited edition rings out of recycled materials like spoons and forks, which are individually crafted to the customer’s ring size.
Tristen’s fascination with spoon rings began when he was 12 years old and his father showed him how to make them. He continued to make the rings for himself and his friends for seven years before turning it into a business.
Tristen’s rings are sourced during his travels and his “treasure hunts” in antique stores, flea markets, and his friends’ grandparents’ homes.
Tristen only advertises on Instagram, and yet he has come up with a winning marketing strategy. He has a unique product, and his rings have become a hit with fans.
Tristen’s limited-edition ring drops sell out quickly, leaving customers wanting more. His company has expanded to include rings made from a host of recycled materials. Tristen Ikaika’s business is valued at over $1.6 million, and he has made lifetime sales of $2.3 million by July 2021.
What Materials Are Used To Make Tristen Ikaika Rings?
Tristen Ikaika rings are handmade from spoon handles and occasionally fork handles. He sources the spoons during his travels and his “treasure hunts” in antique stores, flea markets, and his friends’ grandparents’ homes.
Tristen’s rings are unique and personal because they are individually crafted to the customer’s ring size. He also has an option on his website to send in your own silverware to be made into a ring.
Tristen has expanded his company to include other designs and production processes, and has released numerous collections of rings as well as clothing.
Who is the founder?
The founder of this company is Tristen Amal Ikaikamaikai’ikaneokalani Persons.
What Was The Outcome Of The Tristen Ikaika Ring Shark Tank Pitch?
Tristen Ikaika appeared on Shark Tank in season 13, episode 12, where he asked for $250,000 in exchange for 5% equity in his company. Kevin O’Leary made a deal with Tristen for $250,000 for 15% equity.
Tristen’s lifetime sales were $2.3 million by July 2021, and after the show aired, the growth rate of his sales increased by 354%. His limited-edition ring drops sell out quickly, leaving customers wanting more.
Since appearing on Shark Tank, Tristen has continued to build his brand and now has many lines of jewelry that are sold in stores and online. He has grown his social media following and now has over 140,000 followers on Instagram.
Tristen’s company is now worth millions of dollars, and he is one of the most successful entrepreneurs to come out of Shark Tank.
What Happened To Tristen Ikaika Ring After Its Appearance At The Shark Tank?
After appearing on Shark Tank, Tristen Ikaika’s company continued to grow and expand. His lifetime sales were $2.3 million by July 2021, and his sales grew by 354% in the month following the original air date.
Although he made a deal with Kevin O’Leary, as of May 2022, the deal has not closed yet. However, Tristen’s company is now worth millions of dollars, and he has many lines of jewelry that are sold in stores and online.
He has expanded his company to include rings made from a host of recycled materials, and his limited-edition ring drops sell out quickly. According to a report, during the Shark Tank pitch, Tristen Ikaika Ring had a company valuation of $5 million.
How much was seeking on Shark Tank?
Tristen was seeking for $250,000 for 5% of the company. This is equal to $5 million based on the company valuation.
Did he have the deal?
Yes, Tristen had a deal for $250,000 for 15% equity shares of the company from Kevin O’ Leary.
Is Tristen Ikaika Ring still in business?
As of February 2022, Tristen Ikaika Ring is still in business.
Where is Tristen Ikaika Ring located?
Tristen Ikaika Ring is based in Oahu, Hawaii.
How do I buy Tristen Ikaika Ring?
Tristen Ikaika Ring is not available in any retail stores. Customers can order the rings by following their page on Instagram, and send them all the materials they need to craft their ring.
How many different designs are there?
Tristen Ikaika Ring has multiple designs that customers can choose from based on their choosing the theme they want to wear in their ring.
How much does it cost?
The price of the ring depends on what customer want the ring to look like and how extravagant they want it to be.
Can you get the ring before the drop?
The rings are available for purchase during normal business hours only.
Is Tristen Ikaika Ring shipping?
Tristen Ikaika Ring will ship the completed ring anywhere in the United States.
How long will Tristen Ikaika Ring take to be delivered?
It will take up between five and seven business days to be delivered.
What is Tristen Ikaika Ring made of?
The rings are made of stainless steel, silver and raised gold plating.
What is Tristen Ikaika Ring return policy?
Tristen Ikaika Ring provides a 100% refund policy.
Who can wear a Tristen Ikaika Ring?
Tristen Ikaika Ring is meant for elegant men and women.
How can Tristen Ikaika Rings be used?
The rings by Tristen Ikaika Ring can be worn to formal events and parties.
How do I pay for Tristen Ikaika Ring?
Customers can pay for Tristen Ikaika rings through PayPal. They also accept Visa, MasterCard and American Express.
Is there a warranty for Tristen Ikaika Ring?
There is a warranty of three months that customers can claim for the ring.
What is the net worth of Tristen Amal Ikaikamaikai’ikaneokalani Persons?
The net worth of Tristen Amal Ikaikamaikai’ikaneokalani Persons is unknown.