WisePocket Products Shark Tank Update| What Happened to WisePocket Products after Shark Tank?
What is WisePocket Products?
WisePocket Products is a company that produces a fashionable and creative brand of socks with a pocket large enough (6-inch deep) and robust enough to accommodate a mobile phone, an epi-pen, an inhaler, or whatever else you need to have close at hand.
Sofia Overton, a 13-year-old from Bentonville, Arkansas, is the brains behind WisePocket. Sofia explained that all she wanted was to have a convenient place to keep a small item, like the epi-pen, with her everywhere she went.
She added that, “My mom is allergic to peanuts and she always carry an Epi-pen in case she around peanuts. Her inhaler is also in my pocket.” The idea for WisePocket actually came from Sofia’s sock collection.
Who is the founder of WisePocket Products?
Sofia Overton of Bentonville is the founder of Wise Pocket Products in 2017. Her firm makes garments for busy youngsters with built-in pockets to store their belongings. She had the concept when she was 13 years old.
When she watched her cousin put her phone in her boot, she realized her jeans lacked pockets. Sofia attempted the same technique, but her phone, which had dropped down into her boot, didn’t function.
She decided to develop socks with pockets for those occasions when you need a little additional storage. Sofia is also concerned about social issues.
She believes that around 600 children in her school district are homeless; therefore she contributes a pair of socks to homeless shelters for every pair she sells.
She’ll soon expand into leggings with pockets as well. Sofia had a lot of support getting WisePocket off the ground, including her parents, her patent attorney, her local Chamber of Commerce, and the guys at Start-Up Junkie.
Sofia received her first orders in early 2018 after a successful IndieGoGo campaign earned $10,06 for her.
That October, the first socks were distributed. They are available in white, black, and “splatter paint.” Each pair of shoes costs $15. As of Christmas 2018, she had sent socks to 25 homeless children’s shelters across the United States.
What Happened to WisePocket Products at Shark Tank pitch?
In Shark Tank episode 11 seasons 11, 13-year-old Sofia Overton wants the Sharks to invest in WisePocket, her socks with pockets. Sofia requires the assistance of a Shark to help her turn WisePocket into a “real” business.
Sofia enters on Shark Tank in seeking of $30,000 in exchange for a 15% stake in her firm, which is worth at $200,000.
She says she needs money to boost production after discussing her company and handing her samples: she can only create 100 pairs a month right now.
The Sharks are impressed that she self-funded the firm with $5,000 of her own money and another $5,000 from business contests.
All of the Sharks like her, and Kevin and Mark both quit the deal, wishing Sofia success in her business.
Daymond and Lori join forces to make a bid. They wish to explore licensing and have offered $30,000 in exchange for 33.3% ownership of the firm.
Sofia counters with $35,000 for a 25% stake in the company, and the Sharks accept and depart the pitch with a deal.
What Happened to WisePocket Products after Shark Tank?
The deal with Lori and Mark was finalized in the two months following the initial air date, when Sofia departed the pitch with a deal, and Wise Pocket now appears on Lori’s website.
It doesn’t appear like a licensing agreement has been reached yet, although it hasn’t been long. Perhaps there will be more news in the coming months.
Lori’s website no longer lists the firm as of July 20, 2021. They are still in operation, although accurate income data are unavailable.
Competitors of WisePocket Products
Their main competitor of WisePocket Socks is SockGuy.
Net Worth of WisePocket Products
The company was valued at $200,000 during the pitch, after the investment done by Lori and Mark the company valued at $120,000.
Since then the company have been operating and hence the company net worth might had been increased.
WisePocket Products FAQs
What is WisePocket Products?
WisePocket Products is a company that produces a fashionable and creative brand of socks with a pocket large enough (6-inch deep) and robust enough to accommodate a mobile phone, an epi-pen, an inhaler, or whatever else you need to have close at hand.
Who is the creator?
Wise Pocket Products was created by Sofia Overton of Bentonville. Her firm makes garments for busy youngsters with built-in pockets to store their belongings. She had the concept when she was 13 years old.
How much was seeking on Shark Tank?
Sofia was seeking for $30,000 in exchange for 15% of her company.
Did she have the deal?
Yes, Lori and Mark made a deal with Sofia for 25% ownership of the company in exchange of $35,000.
Is Wise Pockets still in business?
The WisePocket Shark Tank episode debuted in January 2020. The world has stopped since then, but WisePocket has not.
Throughout the epidemic, Sofia has continued to give back by providing socks to children’s shelters around the country! WisePocket is also planning on producing pocketed leggings in the near future!
Sofia Overton is originally from where?
Wise Pocket Products was established by Sofia Overton of Bentonville.
Is WisePocket a one-size-fits-all product?
Yes! Their socks come in one size fits everyone. Adults with large calves may find them a little tight.
Can WisePocket be worn by adults?
Yes! WisePocket Socks are suitable for both children and adults. Adults with large calves may find them a little tight.
How do I take care of my WisePocket socks?
Because the socks are machine washable, remove them off their feet and wash them first.
Where are WisePocket Socks manufactured?
WisePocket Socks are proudly handcrafted in the United States of America in North Carolina.
What exactly are the WisePocket Products Mission?
Their mission is to support children in need by supplying socks to children’s shelters. Socks are the most often requested item for the homeless, second only to food.
What is the return policy of WisePocket Products?
There are no refunds or exchanges on Wise Pocket Products.
What are the payment methods accepted by WisePocket Products?
WisePocket accept payments via PayPal, Visa, MasterCard, Discover and American Express.
What shipping methods does WisePocket use?
WisePocket Shipping Methods include USPS First Class Mail or Priority Mail.
What is the shipping cost of WisePocket?
Standard shipping is free on all orders.
Where can I find WisePocket coupon code?
Customers can get the discount from WisePocket official website when they click to enter the website. They should be able to apply it and get the discount immediately.
What is WisePocket Products website?
WisePocket website is http://www.wisepocketproducts.com/.
Is WisePocket Products successful?
Yes, WisePocket Products is successful.
What business round did WisePocket present on Shark Tank?
WisePocket Products pitched in Shark Tank Season 11 Episode 11 business round.
What is the business model of WisePocket?
Their business model has a excellent performance. The efficient production, marketing and sales team can provide high quality products and professional services to customers at competitive price. Their target market is women, children, men etc.
What is the net worth of Sofia Overton?
The net worth of Sofia Overton is unknown.
