Zuvaa Shark Tank Net Worth 2023

Zuvaa Shark Tank Net Worth

The net worth of Zuvaa is unknown as of 2023 since the company went out of business in 2020. Zuvaa’s founder Kelechi Anyadiegwa had a net worth of 1 million USD as of 2022.

Zuvaa was featured on Shark Tank USA in January 2018 and sought an investment of $460,000 in exchange for a 10% stake in the company, valuing it at $4.6 million.

However, none of the Sharks were willing to invest due to the high valuation and potential liability issues with vetting designers. As a result, Kelechi declined Kevin O’Leary’s offer of a loan at 12% interest for 10% equity.

What is Zuvaa? Who is the founder of Zuvaa?

Zuvaa was an e-commerce platform and online community that focused on selling African-inspired clothing and accessories. The platform allowed craftsmen to connect with customers from all over the world.

Additionally, Zuvaa provided buyers with cultural background details and information about the designers’ experiences.

The founder and former CEO of Zuvaa is Kelechi Anyadiegwu, who obtained a Master’s degree in Computer-Human Interaction from Carnegie Mellon University in 2014.

After working as a Web Design Consultant for the MEMS Industry Group, she started her own apparel company in 2014 with only $500.

Kelechi is of Nigerian origin and grew up wearing African-inspired clothing. She received numerous compliments on her attire, which led her to purchase a domain name and start selling African-inspired apparel from around the world.

Using her technical skills in online community development and design background, she soon grew the company into a $2 million revenue-generating business.

Kelechi was named to Forbes’ retail and e-commerce 30 under 30 lists, but the company eventually ran into problems due to overestimation, a small workforce, and difficulties in compensating vendors.

The company’s website currently links to a public apology where Kelechi accepts responsibility for the issues and promises to re-emerge in 2018 with a new business strategy.

Although Zuvaa faced challenges due to its rapid growth, Kelechi believes that the company has barely scratched the surface of its potential.

There are still some products available for purchase on the site, but the business model’s demise has led to a reduced inventory.

Zuvaa Shark Tank Pitch

When Kelechi Anyadiegwu appeared on Shark Tank in episode 913 to pitch her clothing business, Zuvaa, she showcased her vibrant African designs and sought the assistance of the Sharks to help her grow her company.

Kelechi was asking for a $460,000 investment in exchange for a 10% stake in her company, which was valued at $4.6 million. During her pitch, she had models wearing her clothing line and distributed samples to the Sharks.

The Sharks were impressed by Kelechi’s success, having turned a $500 investment into a $2 million-selling firm in less than two years.

However, despite generating monthly revenue of $50,000, she was struggling to break even.

Kelechi’s business model involved charging designers a $50 monthly fee and a 17.5% commission, but the Sharks raised concerns about the company’s valuation.

Mark was the first Shark to decline the offer due to disagreement with the valuation, followed by Sara. Lori didn’t see the need for investment and opted out, while Daymond raised concerns about potential liability issues with evaluating designers.

Kevin offered Kelechi a $460,000 loan with a 12% interest rate in exchange for a 10% equity stake, but she declined the offer and left without securing a deal.

Unfortunately, the company was shut down before the planned air date of January 21, 2018, and Kelechi walked away from the pitch without a deal.

However, in February 2020, she rebranded the company as Ujuu Media, with plans to launch the website in 2021. As of January 2022, the website is operational, but there is currently no revenue data available.

Competitors of Zuvaa

The primary competitors of Zuvaa in the market space are; Farfetch, Bluefly, Clothia, and El Armario De La Tele.

Net Worth of Zuvaa

The company valuation was $4.6 million during and after the pitch, and since then the company rebranded to Ujuu Media. This shows the company’s net worth might have increased.

Zuvaa Shark Tank Update

Zuvaa is an e-commerce platform that offers African-inspired fashion and products to customers worldwide. It was featured on Shark Tank Season 9, where Kelechi Anyadiegwu asked for $460,000 for 10% equity but did not receive any offers due to high valuation and liability issues.

In 2018, Zuvaa reached $2 million in revenue and had a valuation of $4.6 million. However, in 2019, Kelechi announced the shutdown of Zuvaa due to the company growing too quickly without the proper infrastructure to support it.

The website now redirects to a public apology statement. Kelechi later rebranded the business as Uju Media in February 2020. The current net worth of Zuvaa is unknown as the company went out of business in 2020.

Zuvaa Shark Tank Net Worth 2023

	Zuvaa
Founded	2014
Industry	E-commerce and online community
Founder	Kelechi Anyadiegwu
Valuation (2018)	$4.6 million
Investment Sought (2018)	$460,000 for 10% equity
Revenue (2018)	$2 million
Net worth (2022)	Kelechi Anyadiegwu – $1 million
Competitors	Farfetch, Bluefly, Clothia, El Armario De La Tele
Status	Went out of business in 2020 and rebranded as Ujuu Media in 2020

What Happened To Zuvaa After Shark Tank?

Zuvaa is an e-commerce platform that sells African-inspired fashion and goods globally. The company appeared on Shark Tank in 2018, with founder Kelechi Anyadiegwu seeking $460,000 for a 10% equity stake that valued the company at $4.6 million.

Despite generating over $2 million in revenue that year, the Sharks did not invest in the company.

In 2019, Zuvaa shut down due to growing too quickly without the necessary infrastructure to support the business, with problems like over projections, a small staff, and delayed payments to sellers contributing to its failure.

The Zuvaa website now redirects to an apology page. Kelechi rebranded the company to Uju Media in February 2020, but Zuvaa is no longer in operation as of 2019.

What Was The Valuation Of Zuvaa During The Shark Tank Appearance?

At its Shark Tank appearance in January 2018, Zuvaa aimed to raise $460,000 in exchange for a 10% stake in the company, which is valued at $4.6 million.

Although Zuvaa’s founder, Kelechi Anyadiegwa, confirmed that the company was valued at $4.6 million at the time of the pitch, none of the Sharks invested due to the high valuation and potential liability issues with vetting designers.

As a result, Kelechi turned down Kevin O’Leary’s offer of a loan at 12% interest for 10% equity. Zuvaa was an online store featuring African clothes and other products from over 80 designers.

The company generated $220,000 in sales and received over 120,000 visitors per month. Zuvaa crossed $2 million in revenue in 2018, but it went out of business by January of that year.

Did Zuvaa Have The Deal?

Zuvaa, a company that offers African-inspired fashion and goods, did not receive an investment deal on Shark Tank when it appeared on Season 9. The founder, Kelechi Anyadiegwu, was seeking an investment of $460,000 in exchange for 10% equity, but none of the Sharks invested.

In 2018, Zuvaa generated $2 million in revenue and was valued at $4.6 million at the time of the Shark Tank pitch. However, in 2019, Kelechi announced the shutdown of Zuvaa due to the company growing too fast and not having the infrastructure to support its platform.

The Zuvaa website redirects to a public apology, stating that the company “lacked the right infrastructure to support a growing company.”

In February 2020, Kelechi rebranded the business to Uju Media. As of 2023, the net worth of Zuvaa is unknown as it went out of business.

Is Zuvaa still in business?

In 2020, Zuvaa had gone out of business but planned to reopen with new management. However, in 2021, the founder of Zuvaa, Kelechi Anyadiegwu, launched a new company called UjuuMedia. It is not clear from the search results if Zuvaa has reopened under new management or if it is still out of business.

Zuvaa is an online store that offers African-inspired fashion and goods from over 80 designers. Kelechi Anyadiegwu pitched the company on Shark Tank in 2017 and was seeking an investment of $460,000 in exchange for 10% equity.

The company generated over $2 million in sales in its first few years and had about 120,000 visitors to its website each month. However, it is not clear from the search results whether the company was able to sustain its success or if it ultimately failed.

Did Zuvaa Rebranded The Company Name?

Yes, Zuvaa changed its company name to Ujuu Media in February 2020. The founder and former CEO of Zuvaa was Kelechi Anyadiegwu, who started the clothing firm in 2014 with only $500.

Zuvaa was an e-commerce firm with a retail store that offered African-inspired items on its website, as well as through joint venture partners in the U.S. Zuvaa’s valuation was $4.6 million both during and after the Shark Tank pitch.

However, Zuvaa was completely shut down before the planned air date of 1/21/2018, and Kelechi left the pitch without a deal.

How Can I Contact Zuvaa?

The only way to contact Zuvaa is via the company website at http://www.ujuu.com/contact or via their Twitter account at http://www.twitter.com/ujuu_brands

How Was The Appearance Of Zuvaa On Shark Tank?

Zuvaa is an e-commerce platform that sells African-inspired clothing and accessories to customers worldwide. The company was presented by Kelechi Anyadiegwu during season 9 of Shark Tank, where she sought a $460,000 investment in exchange for 10% equity.

The target market for Zuvaa is individuals aged 18 to 35 who are interested in African designs and fabrics and looking to incorporate a new style.

During the pitch, Kelechi explained that designers could partner with Zuvaa by submitting sample products for approval, after which Zuvaa could approve or reject the designer’s access to the platform.

Despite impressing the sharks with her ability to grow her business to over $2 million in less than 2.5 years from a $500 investment, they declined to invest, and Kelechi left the tank without a deal.

Since then, Zuvaa has expanded its selection of designers and includes a sales area with items priced between $45 and $140 on the high end. The company has continued to grow and is now one of the most active online marketplaces for African apparel and goods.

What Kind Of Business Is Zuvaa?

Zuvaa was an online platform that focused on selling African-inspired clothing and accessories. Its founder, Kelechi Anyadiegwu, launched the platform in 2014 with an initial investment of $500.

The goal of Zuvaa was to connect African artisans with customers from around the world, promoting trade and export between African countries and the rest of the world.

Zuvaa generated over $2 million in sales in its first few years and featured a global community by including background stories about the culture and designers’ experience.

However, the company faced issues with over projections, a small staff, and paying sellers, which contributed to the complete failure of the business model.

The company lacked the infrastructure to support a growing company, grew too big too fast, and its website is no longer available. Currently, Zuvaa is out of business, but there are plans to reopen under new management in 2020.

How Much Did Zuvaa & Ujuu Sell For?

Zuvaa was featured on Shark Tank USA in January 2018 and sought investment in exchange for a stake in the company, valuing it at $4.6 million. Although the founder of Zuvaa did not receive a deal on Shark Tank, the company was valued at $4.6 million during and after the pitch.

In 2018, Zuvaa crossed $2 million in revenue. However, in 2019, the founder issued a public notice to announce the shutdown of Zuvaa, stating that the company simply grew too fast too quickly and did not manage the right infrastructure to deal with the overwhelming demand.

The founder rebranded her clothing line and launched a new website, Ujuu Media, where she is currently selling clothing and accessories. It is unknown if she received any investment or loans to start Ujuu Media.

Zuvaa’s net worth was $4.6 million during and after the Shark Tank pitch, but it is unclear how much Ujuu Media is worth.

What Is Zuvaa Business Model And Philosophy?

Zuvaa is an online store that sells African clothes and other products from over 80 designers. The company was founded in May 2014 by Kelechi Anyadiegwu, a New York-based entrepreneur who saw a gap in the African print fabrics and fashion market.

Zuvaa’s target market is men and women between the ages of 18 and 35 who are interested in African designs and fabrics and those looking to incorporate a new style.

The name Zuvaa means “sunshine” in the Shona language of Zimbabwe and represents the vibrant and radiant African culture.

Zuvaa’s business model is based on promoting export and trade between countries on the African continent and the rest of the world.

The company’s website not only features clothing but also creates a global community by sharing background stories about the culture and experiences of the designers.

Zuvaa is also a go-to platform for African designs with a growing list of designers in North America, Ghana, Nigeria, and South Africa. The company provides affordable, ethically made, and African-inspired pieces.

Initially, Zuvaa was successful, generating over $2 million in sales and launching various pop-up shops across the country. However, the company grew too fast and did not have the infrastructure to deal with the overwhelming demand.

Currently, Zuvaa is out of business but plans to reopen under new management in 2020. In 2021, Kelechi Anyadiegwu launched a new company called UjuuMedia.

What is Zuvaa?

Zuvaa was an online community and marketplace for African-inspired clothing and accessories that connected artisans with clients from all over the world.

Furthermore, it provided customers with cultural background information as well as the designers’ experience.

Who is the Founder of Zuvaa?

Zuvaa was founded by Kelechi Anyadiegwu, who hails from Nigeria.

How much was seeking on Shark Tank?

Kelechi was seeking $460,000 for a 10% stake in her company, which was worth $4.6 million.

Are Zuvaa products made in America?

Most of the products are made in America.

Are Zuvaa products sold in stores?

There are no brick-and-mortar stores for the company.

Who was the target market of Zuvaa?

Zuvaa was primarily geared towards women of color who wanted to purchase contemporary high-end designs inspired by African culture.

How many employees worked for Zuvaa?

There is no information about the number of employees at this time.

What were the methods of payment accepted by Zuvaa?

Zuvaa accepted PayPal, credit card, and debit card.

Are there any affiliate programs for Zuvaa?

No, there is no affiliate program for the company.  She doesn’t want her clients to make money off of her business.

How many colors available on Zuvaa?

There is no information about the number of colors available on Zuvaa at this time.

Does Zuvaa offer discounts or sale prices?

No, there is no information about discount at this time.

What are Zuvaa business hours?

The company was not established for brick-and-mortar retail.  There are no hours of operation.

Who is Kelechi Anyadiegwu?

Kelechi Anyadiegwu is a seasoned entrepreneur and the Founder and CEO of Ujuu Media, a digital business that supports multicultural consumer brands.

Ujuu Media’s main ideals are scalability and sustainability. Prior to the commencement of the pandemic, the venture studio recognized for propelling fashion firms was already lean.

What is the net worth of Kelechi Anyadiegwu?

Kelechi Anyadiegwu’s net worth is unknown.