WisePocket Products Shark Tank Update| What Happened to WisePocket Products after Shark Tank?
What is WisePocket Products?
WisePocket Products is a brand that designs and creates unique socks that feature a spacious and durable pocket (6 inches deep) that can hold a variety of items such as mobile phones, epi-pens, inhalers, or other essential items that need to be kept close at hand.
The company was founded by Sofia Overton, a 13-year-old from Bentonville, Arkansas, who was motivated by the need to have a convenient place to keep her mother’s epi-pen and inhaler with her at all times.
She said, “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 inspiration for WisePocket came from Sofia’s personal sock collection.
Who is the founder of WisePocket Products?
Sofia Overton founded Wise Pocket Products in 2017, a company that creates clothing for children with built-in pockets for storage.
The idea came to her at the age of 13 when she noticed her jeans lacked pockets and her phone ended up in her boot. She began by making socks with pockets and has since expanded to leggings.
Additionally, Sofia has a strong commitment to social issues and donates a pair of socks to homeless shelters for every pair sold.
Her business was supported by her parents, patent attorney, local Chamber of Commerce and Start-Up Junkie.
She launched her first products in 2018 after a successful IndieGoGo campaign and has since sent socks to 25 homeless children’s shelters across the United States. Each pair of socks cost $15.
What Happened to WisePocket Products at Shark Tank pitch?
In episode 11 of season 11 of Shark Tank, a 13-year-old entrepreneur named Sofia Overton presents her business, WisePocket, which sells socks with pockets.
She is seeking an investment of $30,000 in exchange for a 15% stake in her company, which she values at $200,000.
She explains that the funds will be used to increase production, as she can currently only make 100 pairs of socks per month.
The Sharks are impressed by her self-funding efforts, using $5,000 of her own money and $5,000 from business contests.
Kevin and Mark both opt out of investing, but Daymond and Lori decide to work together to invest in the company.
They offer $30,000 for a 33.3% stake, which Sofia counters with $35,000 for a 25% stake. The Sharks accept this offer and the deal is closed.
What Happened to WisePocket Products after Shark Tank?
Lori and Mark finalised their deal in the two months after the initial air date, when Sofia left the pitch with a deal and Wise Pocket was featured on Lori’s website.
As of July 20, 2021, the firm is no longer listed on Lori’s website, and it’s unclear if a licensing agreement has been reached. However, the firm is still in operation and financial information is not currently available.
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.