What Happened to EvRewares After Shark Tank Pitch?
What is EvRewares?
EvRewares are reusable and wearable fabric sticker ties that provide a splash of colour to any occasion.
The unique EvRewares sticker attaches to whatever surface it comes into touch with like glue, yet without leaving any residue behind. Just peel, stick, and wear.
Furthermore, these stickers may be reused several times and will remain as sticky as the first time you put them.
These biodegradable novelty stickers are the easiest and quickest method to add a personal touch to any piece of clothing.
Popular designs include the bacon tie, beer tie, duct tape tie, American flag tie, and pixel tie.
Who Founded EvRewares?
Ellie Brown and Becca Nelson are entrepreneurial sisters from North Carolina who launched the firm in 2011 because they wanted a fun, inexpensive, and straightforward way to customize their children’s clothing to meet their changing interests.
The pair has had some success getting their product into stores – it’s on the shelves at Party City, the Container Store, and hundreds of mom and pop shops – and they’ve generated roughly $500,000 in sales since starting the company.
EvRewares are available at the aforementioned merchants as well as on Amazon.com.
In addition to Sticky Ties, they provide fabric stickers for new-born’s, Sticky Bow Ties, Sticky Sashes, Sticky Words, and Sticky Drink Labels.
They also provide college license for several of their products.
What Happened to EvRewares at the Shark Tank Pitch?
The two ladies are looking for a Shark to assist them in building their internet company, increasing retail penetration, and raising finance for growth.
The episode opens with an “at home” segment with Ellie and Becca playing with their children.
They reveal that they have put $185K of their own money into the business.
Ellie and Becca walked into the Tank with a $100,000 offer for a 30% interest in the firm. This gives a total valuation of $333,333.33 of the Company.
Before handing out Sticky Tie samples, they explain and demonstrate the product.
Kevin believes that his Sticky Tie (a $100 bill with a picture of himself on it) will be their best seller.
Since 2011, they’ve produced $600,000 in sales, $300,000 of which was in 2014, and they’re only on course to make about $50k this year.
They argue that this is a deliberate slowdown and retreat because sales were declining, not enough to force merchants to withdraw the product, but enough that they thought it was time to take a step back and review before moving forward.
The product costs between $4.99 and $11.99, and they believe they can lower production costs to 50 cents per item, albeit they must pay for a patented unique ingredient to maintain the product’s status as a reusable item that can be wiped clean of spills.
Lori claims she invested in a similar venture a few years ago and it failed to sell, so she’s out.
Kevin rejects it as a “howling dog from hell that sucks” and goes away, believing it to be the most costly sticker in the store.
“You like making things, but your focus isn’t on business,” Barbara Corcoran told the sisters. “I’m going.”
“Reusable, re-wearable, nobody cares,” Robert Herjavec joked. “I’m going.”
When asked if the club was doing well in internet sales, Mark Cuban replied, “Because your name stinks.”
He did, however, make them a proposal. Instead of investing, he stated that he would pay them $200,000 for the entire firm.
“You have no idea what you’re doing,” he said, claiming that he could run the company correctly and successfully.
While Becca and Ellie investigated the possibility, Kevin admonished Mark, advising him that he should instead take the notion and build his own firm.
The sisters approached, crying, recalling the work they’d put into the company, clearly ready to let it go yet hesitating.
“I appreciate that it’s your child,” Mark replied, and when they agreed it was time to let the baby go, he promised to take wonderful care of it and hugged the two.
Ellie Brown and Becca Nelson were paid $200,000 by Mark Cuban for EvRewares.
What Happened to EvRewares After Shark Tank Pitch?
Soon after the show aired, Ellie and Becca turned down Mark’s offer. He COMPLETELY supported their choice and attempted to counsel them.
They took him up on his offer in some small ways.
“His crew was incredible in getting us ready for broadcast in terms of internet stuff,” Ellie explains. I can’t speak highly enough about him. But, in the end, I’m just grateful for the opportunity.”
EvRewares benefited from the “Shark Tank Effect,” as their website received a massive amount of traffic on show night, with over 1000 visits per minute.
Unfortunately, as a result of this, only around $10,000 was sold.
EvRewares ceased operations in December of 2015. According to the dark website, the sisters “removed our remaining stock” and chose to “no longer supply EvRewares merchandise.”
What is the Net Worth of EvRewares?
Ellie and Becca walked into the Tank with a $100,000 offer for a 30% interest in the firm. This gives a valuation of $333,333.33 of the Company. They sold their company for $200,000 valuation
Who are the Competitors of EvRewares?
There are no competitors for EvRewares.
What became of EvRewares after Shark Tank?
EvRewares went out of business later that year.
According to the dark website, the sisters “removed our remaining stock” and chose to “no longer supply EvRewares merchandise.”
There are only a handful EvRewares ties left for sale on Amazon.
What are sticky ties?
Becca Nelson and Ellie Brown, two sisters from Zionsville, Indiana, founded the Big Man Sticky Ties in 2010.
Reusable stickers, as opposed to standard stickers, are made of woven fabric and may be reused and placed up to ten times each Sticky Tie.
How much is sticky ties worth?
The owners of EvRewares, which makes reusable party accessories like “sticky ties,” agreed to sell their firm to Mark Cuban for $200,000.
What happened to EvRewares?
A sticker tie firm goes out of business after appearing on Shark Tank. Mark Cuban offered to buy the entire company for $200,000, but the sisters changed their minds after the episode aired.
Who founded EvRewares?
EvRewares was founded by Ellie Brown and Becca.
What is EvRewares?
EvRewares was a company that sold reusable adhesive ties.
When was EvRewares aired on Shark Tank Pitch?
On January 13, 2015, EvRewares broadcast.
How much does EvRewares costs?
The product ranges in price from $4.99 to $11.99
Were EvRewares patent?
EvRewares ties have been patented.
What did EvRewares wanted from the Sharks?
Becca and Ellie demanded $100,000 in exchange for a 30% interest in EvRewares. They also required assistance in getting the goods back into retailers.
Who purchased EvRewares from Becca Nelson and Ellie Brown?
Mark Cuban is a sponsor of Mark Cuban’s – Originally aired on ABC on January 13, 2015. Mark Cuban wants to buy the entire company for $200,000.
What were strengths of EvRewares?
The material is elastic and reusable. The product outperforms the majority of its competitors in terms of functionality.