eveREwares Founders Wear Their Sticky Ties During Their Shark Tank Pitch
Highlights
- Siblings Ellie Brown and Becca Nelson presented evREwares on Shark Tank in 2015.
- The entrepreneurs bagged a deal from a prominent Shark Tank panelist.
- After facing the ‘Shark Tank Effect,’ evREwares met with an unexpected turn of events.
Once a deal gets locked on the show, the curiosity of Shark Tank viewers regarding its fate increases even more. This mostly happens for entrepreneurs whose pitches present a distinguishing factor over others. The evREwares Shark Tank pitch is one example that still keeps viewers interested.
Having appeared in the sixth season of Shark Tank, evREwares was the talk of the town in 2015. This was because Mark Cuban bought a 100% equity stake in the Ellie Brown and Becca Nelson-founded venture. The development resulted in a massive buzz, and Shark Tank viewers still want to know about its current status.
Below is a detailed explanation of the evREwares Shark Tank journey after the show, whether it was a success or not. Along with it, there is a quick look back into its pitch, negotiations, and final Shark Tank deal.
evREwares Shark Tank: Latest Update
After Mark Cuban bought the entire share of evREwares, the expectations of Shark Tank viewers regarding its success were supremely high. Right after its segment aired in the sixth season, the initial results too, indicated the same. evREwares faced the famous ‘Shark Tank Effect’ for a brief period.
Right after the eREwares Shark Tank episode, the company’s website saw huge traction, with more than 1000 his every minute. But Ellie and Becca’s success was short-lived as the traffic resulted in just $10K in sales.
Right after this, another shocker for Shark Tank viewers arose when the evREwares founders refused to go ahead with Mark’s deal, which they had accepted on the show. The Shark investor supported Ellie and Becca’s decision. He even offered the entrepreneurs to be an advisor for evREwares.
However, after the twist and turn of events, evREwares finally closed in 2015, i.e., within one year of its appearance on Shark Tank.
Now that details about the latest status of the evREwares Shark Tank have been given have a look at its history in the show:
evREwares Shark Tank: Pitch Recap
A North Carolina-based sibling entrepreneur duo of Ellie Brown and Becca Nelson pitched eREwares in Shark Tank Season 6. Starting in 2011, the company made fashion novelty fabric stickers, especially for kids. The entrepreneurs entered seeking $100K for 30% equity in the business.
Ellie and Becca began their reusable fabric sticker venture to offer an inexpensive yet fun way to change children’s clothing as per their tastes. In three years, evREwares found its presence in Party City and different mom-and-pop stores. The fabric stickers were found on Amazon as well. Sales were $600K.
Claiming that they had put in their personal funds worth $185K in evREwares, the entrepreneurs sought a Shark’s help to get more cash and grow through both retail and online. Other than their main offering of ‘Sticky Ties,’ Ellie and Becca sold Sticky Bow Ties, Sticky Drink Labels, Sticky Words, and Sticky Sashes.
evREwares Shark Tank: Negotiations And Deal With Mark Cuban
While discussing the business figures, the siblings revealed that by 2014, evREwares was not making as much money as they had predicted. So, Ellie and Becca thought of slowing their pace and evaluating the loopholes closely. The Shark investors were not happy to hear this.
Additionally, the Sharks felt that although evREwares’ margins were acceptable, its pricing was not appropriate. So, citing these reasons, each of them started walking out of the deal one after the other.
However, Mark Cuban was quite interested in sealing the evREwares Shark Tank deal. He offered $200K for 100% equity in the fabric sticker business. On hearing this, the entrepreneur duo stepped out in the hallway for discussions. After some thought, in an emotional moment, they accepted Mark’s offer.
Conclusion
There is no denying that the evREwares Shark Tank appearance led to a substantial buzz. However, the success ride took an abrupt turn when, despite the Shark Tank Effect, the business could not convert the interest into consistent sales. Plus, entrepreneurs Ellie Brown and Becca Nelson backed out from the deal with Mark Cuban.
These frequent developments resulted in major turbulences for the evREwares business, which ultimately led to its closure in 2015. This is how, despite showing early promise, the evREwares Shark Tank journey highlighted the unpredictability of the startup world.
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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