Zoom Interiors Shark Tank Net Worth
During their appearance on Shark Tank, the owners of Zoom Interiors were seeking $100,000 for a 20% stake in their business, which would value the company at $500,000.
However, they ultimately accepted a different offer from Barbara, who was willing to invest $100,000 for a 33% stake, valuing the company at $303,030.30.
Despite initially agreeing to this deal, it ultimately fell through, and the owners of Zoom Interiors were forced to pursue other opportunities to continue growing their business.
What are Zoom interiors and Who Founded Zoom Interiors?
Zoom Interiors is an online interior design service that offers affordable and stylish interior design solutions.
The company was founded by three former George Washington University students: Madeline Fraser, Elizabeth Grover, and Beatrice Fischel in 2012.
Their goal was to make interior design accessible to everyone, regardless of their budget, by delivering it entirely online. They also provide an app that allows users to visualize how a room or interior area would look with different design elements.
To use the app, the homeowner answers a series of questions, and the software generates algorithms for the design components, such as furniture placement and arrangement.
If the customer is not satisfied with the outcome, they can request a follow-up appointment directly. Zoom Interiors also provides free design assistance and sells the products they recommend as part of the design.
The founders of Zoom Interiors are passionate about interior design, and they always enjoyed helping other students at the university design their living spaces on a tight budget.
They realized that there was a need for affordable interior design services for younger consumers with limited finances, which led them to conduct informal design trials by assisting friends with room design and furniture selection.
Through this experience, they learned that there was a demand for such a service that they could offer at an affordable price. They took advantage of the high costs associated with employing an interior designer and created a free app that allowed low-income individuals to receive free interior design services.
In summary, Zoom Interiors is an innovative online interior design service founded by Madeline Fraser, Elizabeth Grover, and Beatrice Fischel-Bock, which provides affordable and accessible interior design solutions to everyone.
Zoom Interiors Shark Tank Pitch
On May 7th, 2015, Lizzie Grover, Beatrice Fischel-Bock, and Madeline Fraser pitched their virtual interior design company, Zoom Interiors, on Shark Tank Season 6, Episode 28.
They were seeking $100,000 for a 20% stake in the business, which indicates a value of $500,000. During the pitch, they guided the Sharks through a Zoom design survey on a large-screen TV and demonstrated their concepts before and after.
The Sharks were curious about how the company made money, and the founders revealed that they generated $186,000 in revenue in their first year, but only earned $3,000.
They made the majority of their money by selling products that they recommended as part of their design services. The Sharks were concerned that the business was too time-consuming and that it would be difficult to scale.
After some debate, Barbara Corcoran offered to invest a third of the business in exchange for 33% of the software, and the three founders unanimously agreed to accept the offer. However, the deal was never completed, and the founders continued to work on their business.
One year after their appearance on Shark Tank, the company changed its name to Homee and raised $7.2 million with the help of Tinder co-founder Sean Rad. The home was an app that allowed users to design their own spaces, and it was successful in the growing online interior design industry.
However, Homee later rebranded as Hutch and strayed from its initial objective. The software was revamped to be more visually appealing, and the company ceased operations in 2020. Despite the setback, the founders of Zoom Interiors/Homee/Hutch have moved on to pursue other endeavors.
Summary Table :Zoom Interiors Shark Tank
|Company Name||Zoom Interiors|
|Founders||Madeline Fraser, Elizabeth Grover, and Beatrice Fischel-Bock|
|What is Zoom Interiors?||An online interior design service that offers affordable and stylish interior design solutions.|
|Shark Tank Pitch||Sought $100,000 for a 20% stake, but ultimately accepted Barbara’s offer of $100,000 for a 33% stake, valuing the company at $303,030.30.|
|Updates||The company rebranded to Homee and later to Hutch, which ceased operations in 2020.|
|Net Worth||Valued at $500,000 during the Shark Tank pitch, but the deal with Barbara fell through.|
Zoom Interiors Net Worth
The owners were seeking $100,000 for a 20% stake in the business. This indicates a worth of $500,000. They accept an offer from Barbara of $100,000 for 33% thus valued at $303,030.30 but the deal fell through.
Zoom Interiors Competitors
Zoom Interiors Updates
Zoom Interiors is an online interior design platform that offers virtual interior design services via an app. The company was founded by Beatrice Fischel-Bock, Madeline Fraser, and Lizzie Grover during their junior year in college.
The platform aims to revolutionize the interior designing process by making it affordable for everyone online. Zoom Interiors provides an interface to get an idea of the room you want to design by asking a series of questions about yourself.
The algorithm then gives an idea of furnishings and design elements that can be suggested for your room. The design services are free, and the company makes money on the back-end by selling the items they recommend.
Zoom Interiors appeared on Shark Tank in 2015, asking for $100,000 for 20% equity. The company received an offer from Barbara Corcoran for $100,000 for 33% equity, which was accepted.
However, the deal was never finalized, and the company was rebranded before going out of business in 2020. The founders focused on other aspects of their lives after the company ceased to operate.
Zoom Interiors FAQS
What Is Zoom Interiors?
Zoom Interiors is an online interior design service that was founded by Madeline Fraser, Elizabeth Grover, and Beatrice Fischel-Bock. The company aims to make professional interior design services more affordable and accessible by leveraging an online platform.
Zoom Interiors combines technology and design to provide an online platform that helps people design their rooms. The company’s interface features a series of questions in an online survey format.
Once the Zoom Interior designers collaborate on redesigning a room, the client receives the first Zoom Board or concept board detailing all the furnishing needed for the new interior design. The client can request two rounds of revisions included in the initial $199.00 consultation fee.
Zoom Interiors appeared on Shark Tank in episode 625. During the pitch, the founders explained their online interior design service, which aimed to make design services more affordable and accessible, particularly for millennials and young professionals.
The team behind Zoom Interiors demonstrated their process by showcasing a before-and-after of a room they had designed. The Sharks were impressed with the company’s concept and offered a deal, but the founders ultimately declined.
How Does Zoom Interiors Works?
Zoom Interiors is an online interior design company that offers virtual interior design services via an app. The company was founded by three interior designers, Madeline Fraser, Elizabeth Grover, and Beatrice Fischel-Bock, who wanted to make interior design accessible and affordable to everyone.
The company’s goal is to enable everyone to design their space without contracting an interior designer. Zoom Interiors combines technology and design to provide an online platform that helps people design their rooms.
The platform features a series of questions in an online survey format that clients answer to help the designers understand their preferences and needs.
Once the Zoom Interior experts create a finished redesign of the room, customers will be sent a Zoom Board. This board will list all of the furnishings that are required for the new room design and allows the theoretical buyer to visualize the new layout of their room.
If the finished design is not satisfactory, clients can request a follow-up appointment. Zoom Interiors also provides complimentary design services and sells the products they recommend as part of the design.
The company provides free interior design consultations but then charges a nominal fee. Clients can request two rounds of revisions included in the initial consultation fee.
Zoom Interiors is a disruptive idea in the designing world that combines technology and design to make interior design accessible and affordable to everyone. The company’s founders are passionate about interior design and aim to help the creatively impaired furnish a cozy and modern space.
What Happened To Zoom Interiors After Shark Tank?
Zoom Interiors is an interior design company that offers virtual interior design services via an app. The company was founded by three trained interior designers, Lizzie Grover, Beatrice Fischel-Bock, and Madeline Fraser, who met in a college design class.
They pitched their concept to the Sharks on Shark Tank season 6 episode 28 on May 7, 2015, seeking $100,000 for a 20% share in the firm. Barbara Corcoran made an offer of $100,000 for 33% equity, which the trio accepted.
However, after the Shark Tank debut, the deal between Zoom Interiors and Barbara Corcoran fell through. She decided to leave the company as she was unwilling to be active, which did not go well with the trio.
The Zoom Interiors brain trust felt that the stock was too valuable to give up, so they rebranded the company before going forward.
As of 2023, there is no recent update on Zoom Interiors after the Shark Tank pitch.
What Is The Current Valuation Of Zoom Interiors?
The current valuation of Zoom Interiors is unclear from the provided search results. However, it is known that the company was seeking $100,000 for a 20% stake in the business during their appearance on Shark Tank, which would indicate a valuation of $500,000.
During the show, Barbara Corcoran offered to invest $100,000 for a 33% stake in the company, valuing it at $303,030.30. However, this deal ultimately fell through, and the owners of Zoom Interiors were forced to pursue other opportunities to continue growing their business.
It is also mentioned that Zoom Interiors was very successful after their appearance on Shark Tank, and they were associated with numerous television series and print publications. However, as of 2023, the company is out of business. The net worth of the company is unknown as of 2023.
Is Zoom Interiors Still In Business?
No, Zoom Interiors is no longer in business. The company ceased operations in 2020 after rebranding and changing its name to Hutch. The founders of Zoom Interiors, Madeline Fraser, Elizabeth Grover, and Beatrice Fischel-Bock, have moved on to other aspects of their lives.
Zoom Interiors was an online interior design service that aimed to make professional design services affordable and accessible to a wider audience. The company provided free interior design consultations and sold the products they recommended as part of the design.
Clients could request a follow-up appointment if they were dissatisfied with the results.
What is Zoom Interiors?
Zoom interiors is a design service that gives you access to professional interior designers for free. They offer interior design consultations for free, but then ask for a small fee in return.
What is the app called?
Hutch but Out of business.
How do they find Zoom Interiors?
Out of business.
Where can they purchase Zoom Interiors?
Out of business.
How much is Zoom interiors?
Out of business.
Who is the founder of Zoom Interiors?
Beatrice Fischel-Bock, Madeline Fraser & Lizzie Grover.
When will Zoom Interiors be completed?
The business is out of business.
Who founded Zoom Interiors?
Beatrice Fischel-Bock, Madeline Fraser & Lizzie Grover.
How many employees does Zoom interiors have?
Out of Business.
What happened to zoom interiors?
‘Zoom interiors,’ renamed as ‘Homee,’ and renamed as ‘Hutch,’ is a Los Angeles-based online interior design service. They assist individuals in transforming their living areas on a shoestring budget with their services.
What happened to zoom interiors after shark tank?
Sean Rad, co-founder of Tinder, was pleased with the show. He contacted one of the co-founders, CEO Beatrice Fischel-Bock, through Facebook following the program.
A year after Rad’s arrival, the firm rebranded itself Homee and raised $7.2 million with his support.
How much did zoom interiors raised after the Shark Tank?
Zoom Interiors raised approximately $7.2 million from different investors.
How were they making money?
The design services were free, they were making their money on the back-end by selling you the items they recommend.
Where did they get the idea?
They always liked assisting other students at the institution with designing their little homes on a budget. They then recognized a demand for affordable designers for younger consumers with limited finances.
As a result, they began conducting informal design trials by aiding friends with room design and counselling them on furniture selection.
They learnt from this experience that they might succeed with such a firm on a shoestring budget.
What were strengths of Zoom Interiors?
They assisted with space planning, were able to manage the client journey and were proficient at interior decoration and advising.
What were weaknesses of Zoom Interiors?
They might have lacked on the software functionality and spending too much time planning.
Where were their office located?
They were located in Los Angeles, California.