What Happened to Zinepak after the Shark Tank Pitch? Zinepak Shark Tank Update
What is Zinepak?
ZinePak is a custom publishing firm that provides superfans with limited-edition products and collectibles.
Each package contains a range of items ranging from CDs to movies and trading cards portraying fans’ favourite artists, primarily musicians such as KISS, Taylor Swift, and Katy Perry.
Who is the Founder of ZinePak?
ZinePak was founded by Kim Kaupe and Brittany Hodak.
In October of 2010, the dynamic couple met as employees at Fathom Communications, a New York City marketing agency.
Hodak has a history in music, and Kaupe has a background in publishing, so when they teamed together, it was an instant hit.
Hodak came up with the idea for the start-up in 2004, while working as a college representative for Warner Music Group and participating in conference calls with music industry executives.
She immediately discovered that they were always complaining about the popularity of music downloads having a detrimental impact on the company’s future.
“Basically, the calls were designed to motivate these 40 college students from all across the nation and give us an idea of what life was like in different parts of the country.”
But it always ended up being something along the lines of, ‘You darn youngsters with your digital downloading.’ “It’s destroying the music business,” Hodak remarked.
She thought that if a more exciting and fascinating alternative to regular CDs was offered, customers may be persuaded to buy physical music.
She put up a presentation for Warner officials at the time, and while it was approved, no one took her concept seriously.
Hodak, on the other hand, “got it straight away” when she met Kaupe, and the two established ZinePak in January 2011.
They’ve turned ZinePak into a multi-million dollar company with over $25 million in sales since then.
They meet with the customer, discuss ZinePak ideas, and then put their employees to work developing content and extras for the package.
A ZinePak can be made as a retail item or as a promotional item for a specific occasion. Digital ZinePak are also available.
What Happened to Zinepak at the Shark Tank Pitch?
Kim and Brittany appeared on Shark Tank season 6 episode 26 with a $725,000 offer for a 10% stake in the company. This equates to a $7.25 million valuation.
They hope to use the funds to grow their business beyond the music sector. They give out free samples in the form of Shark trading cards.
In the age of digital downloads, their business strategy is to offer tangible things like as music CDs.
They’ve already made $30 million in sales, but they’re still growing. Nobody at Brittany’s previous employment felt this concept would succeed, so they launched the company. Customers are genuinely being turned away.
Kevin then says he wants to make an offer and expands the terms to $725,000 in return for 35%, which he claims is what a venture capital firm would provide the two ladies owing to the tremendous amount of risk placed in the lone client, but Kim and Brittany refuse.
They need a Shark to assist them expand into new verticals, despite their estimated revenues of $8 million next year.
After hearing that, Mark says he sees the two women’s despair; physical music is a dying industry, and the two of them are well aware of it.
While sales are high, the physical music market is expected to continue to fall, therefore Mark believes it is in his best interests to walk away from the arrangement.
Daymond then makes an offer of $725,000 for a 30% stake in the company. Robert says he understands, and Lori offers to invest with him for $725,000 for a 20% stake.
Daymond then reduces his offer to 25%, but Kevin maintains his original offer of 35%.
Kevin is reminded by the women that the $3 million number represents their total sales to date, and that their official sales will be disclosed online. Kevin then reduces his offer to 30% of the original amount.
Kim and Brittany respond with $725K at 14 percent after a little hiatus. Mr. Wonderful leaves the house. Daymond raises his stakes to 20%.
Lori and Robert agree to meet with the two ladies in the middle and make a $725,000 offer in exchange for a 17.5 percent ownership in the firm, which they accept.
What Happened to Zinepak after the Shark Tank Pitch?
Lori and Robert’s arrangement was never completed. However, their participation on Shark Tank boosted their business, and the firm renamed itself The Superfan Company.
ZinePak offers a website with a list of their items, some of which are only available through Amazon and others only through Wal-Mart.
Hodak sold her company’s portion for an unknown price in 2018 to focus on speaking and consulting.
Kim changed the company to Bright Ideas Only in 2020.
Due to a cease-and-desist order for trademark infringement on the term “superfan,” she had to alter her name.
The firm is still in operation as of August 2021, with yearly sales of $5 million.
What is the Net Worth of Zinepak?
Kim and Brittany appeared on Shark Tank season 6 episode 26 with a $725,000 offer for a 10% stake in the company. This equates to a $7.25 million valuation.
They accepted an offer from Robert and Lori of $725,000 for 17.5% stake which brings valuation to be $4.1 million.
Current valuation is evidently higher since the Company has grown.
Who are the Competitors of Zinepak?
There are no competitors identified for Zinepak.
Zinepak FAQS
What is Zinepak?
ZinePak is a custom publishing firm that provides superfans with limited-edition products and collectibles.
Each package contains a range of items ranging from CDs to movies and trading cards portraying fans’ favourite artists, primarily musicians such as KISS, Taylor Swift, and Katy Perry.
What is the website address of Zinepak Company?
The best way to contact Zinepak is through their website which can be found at www.brightideasonly.com
Who is the founder of Zinepak?
The founders of ZinePak are Kim Kaupe and Brittany Hodak.
How much were they seeking in the Shark Tank?
They were seeking a $725,000 investment for a 10% stake.
Did they get the deal?
Yes, they accepted an offer from Lori and Robert.
How much was the deal?
The deal was a $725,000 investment for a 17.5% stake.
Where is ZinePak headquartered?
Zinepak LLC is in the Newspaper, Periodical, Book, and Directory Publishers industry and is based in Austin, Texas.
What year was Zinepak started?
ZinePak was founded in January 2011.
What is the ZinePak’s annual revenue?
As of August 2021, the Company has a yearly sales of $5 million.
Is ZinePak still operating?
Kim changed the company to Bright Ideas Only in 2020. Due to a cease-and-desist order for trademark infringement on the term “superfan,” she had to alter her name.
The firm is still in operation as of August 2021, with yearly sales of $5 million.
How can they contact Bright Ideas?
They can email them at [email protected]
What Happened to ZinePak after the Shark Tank?
Hodak sold her company’s portion for an unknown price in 2018 to focus on speaking and consulting.
Kim changed the company to Bright Ideas Only in 2020.
What is net worth of Kim Kaupe?
Kim Kaupe’s net worth is unavailable.
What is net worth of Brittany Hodak?
Brittany Hodak’s net worth is unavailable.
Who is the CEO of ZinePak?
Kim Kaupe is the CEO of ZinePak.
