In an era where innovation reigns supreme, it’s no surprise that even the most common items get a twist. Eyewris, a unique solution for those who often forget their reading glasses, is a perfect example. Father and son duo Kenzo and Mark Singer saw a problem and invented a solution that transformed wristwear into eyewear. This blog post provides an eyewris shark tank update, delving into the pitch, the deal, and the company’s status since the show.
The Eyewris Pitch and Deal at Shark Tank
When Kenzo and Mark Singer walked into Shark Tank, they were seeking $25,000 for 5% equity in their company, Eyewris. Showcasing their unique reading glasses that effortlessly transform into a stylish wristband, they intrigued the sharks. The innovative design and its potential led to a remarkable deal with all five sharks, securing $125,000 for 20% equity.
Is Eyewris Still in Business?
Yes, Eyewris is still in business. Post their Shark Tank appearance, Eyewris has not only stayed in business but has also experienced a significant boost in popularity and sales. The unique foldable wrist-worn reading glasses, with patent protection in multiple countries, have found a niche market among people who need reading glasses but often forget to carry them. The company has been consistently breaking its sales record, indicating a promising future.
What Was Eyewris Net Worth?
Before the Shark Tank appearance, Eyewris had modest sales amounting to around $29,000 in the first nine months. However, the innovative design, backed by the sharks’ investment and exposure from the show, led to a substantial increase in the net worth of Eyewris. Exact figures are not publicly disclosed, but the company’s success post Shark Tank indicates a substantial growth.
Impact of Shark Tank on Eyewris
Shark Tank gave Eyewris the platform to showcase their unique product to millions of viewers. This exposure, coupled with the investment from the sharks, significantly impacted the company’s trajectory. The boost in sales and popularity after the show is a testament to the Shark Tank effect.
Where is Eyewris Now?
Eyewris continues to thrive and innovate in the eyewear industry. The company has also made its product more affordable, discounting the glasses to $65 following their Shark Tank appearance. Eyewris’s success story is a reminder that even the most commonplace items, like reading glasses, can be innovated and transformed into something extraordinary.
Business Overview
Eyewris, a company that’s revolutionizing the eyewear industry, was born out of necessity. Mark Singer, the inventor of Gorilla Glue, and Kenzo Singer, a structural engineer and jewelry designer, came together to solve a common problem.
Their product, foldable reading glasses that can be worn on the wrist, is now patent-protected in multiple countries. The company sought $25,000 for 5% equity on Shark Tank but ended up receiving $125,000 for 20% equity, indicating the sharks’ belief in the product’s potential.
Conclusion
Eyewris’s journey from a common problem to an innovative solution, and their success post Shark Tank, serves as an inspiration to aspiring entrepreneurs. The company’s growth and the impact of their unique product on the eyewear industry is a testament to innovation and creativity.
As Eyewris continues to develop, one thing is certain – it’s a brand to watch in the coming years. This eyewris shark tank update serves as a reminder that with a unique idea, determination, and the right platform, any business can make its mark.
Also Read: