Some stories capture our attention in the ever-changing entrepreneurship landscape and leave us wondering about their outcomes. One such tale is of evREwares, a company specializing in reusable and sticky fabric stickers known as “Sticky Ties”. What happened to it after Shark Tank? Let’s find its update and net worth in 2024.
evREwares Shark Tank Update
Ellie and Becca’s appearance on Shark Tank showcased their innovative reusable adhesive fabric stickers, capturing the attention of viewers and investors alike. Impressed by their dedication and innovation, Mark Cuban decided to invest in their company. This partnership was ready for a promising future in the fashion accessory market, filled with numerous opportunities for growth and success.
However, things took an unexpected turn once the episode was wrapped up. The terms and agreements discussed during the show faced scrutiny and reevaluation. Both Ellie and Becca realized that they needed to carefully reconsider the deal on the table, taking into account their long-term vision and the potential impact on their business.
While the initial excitement and support from Mark Cuban were undeniable, Ellie and Becca found themselves at a crossroads. They were determined to seize the opportunities with their appearance on Shark Tank. Still, they also needed to ensure that any partnership they entered into would truly position them for long-term success in the fashion accessory market.
The post-airing period became crucial for them to reassess their options and make decisions that aligned with their goals. With the episode’s impact and the spotlight on their innovative product, they faced a challenging but important decision that would shape the future of evREwares.
Mark’s Generous Offer and Traffic Boost
When Becca and Ellie had a change of heart and decided not to proceed with Mark’s offer to buy evREwares, he didn’t let their decision dampen his support for their business. Mark was generous by offering free advisory services to help the struggling company.
Recognizing the value of his guidance, the sisters gratefully accepted his kind gesture. They believed that with Mark’s expertise and support, they could turn evREwares around and find a path to success in the competitive market.
After its Shark Tank episode aired, evREwares witnessed a significant surge in website traffic. The buzz generated by the show led to an impressive influx of over 1,000 visitors per minute to its website. This heightened attention held the promising potential for the business. However, despite increasing clicks, the conversion rate from visits to actual sales fell short of their expectations.
Even with the enticing “Shark Tank Special” offering free shipping and bonus gifts, evREwares only generated approximately $10,000 in sales. The discrepancy between the increased traffic and actual revenue disappointed the company, highlighting the challenges they faced in capitalizing on the newfound attention.
The disparity between the website traffic and sales figures indicated that the boost in visibility alone was not enough to guarantee financial success for evREwares. It needed to strengthen its capacity to turn visitors into customers and its sales methods. Despite the failure, the sisters were determined to utilize the experience to enhance their business strategy.
Out of Business
Unfortunately, evREwares is no longer in business as of 2024, though the company was doing good in its initial phase. The exact reason behind this closure remains unknown.
Despite Mark’s generous offer of free advising services, evREwares faced an uphill battle overcoming its business challenges. The company continued its operations for a few more months, but unfortunately, it became increasingly clear that the obstacles were insurmountable. The founders, Becca and Ellie, decided to close the doors of evREwares in December 2015.
The sisters also deleted its social media pages. This move symbolized the finality of evREwares’ online presence and the closure of its once-promising venture. By removing its digital footprint, Becca and Ellie sought to move on from the disappointment and challenges they faced.
This step allowed them to explore new opportunities or start afresh in different endeavors. The decision to close evREwares and erase its online presence was undoubtedly difficult. Still, it was a necessary step in accepting the reality of the situation and finding a path forward.
We find no recent updates or signs of ongoing business activities. It is a stark reminder that entrepreneurship is a dynamic and unpredictable journey, and not all ventures are destined to thrive indefinitely.
A Curious Turn: The Acquired Domain
Following the closure of evREwares, an interesting turn of events occurred regarding its former domain. The domain was purchased and turned into a news blog by someone, completely changing its course. There are no evident causes of this change because the specifics of this purchase and its motives are yet unknown.
The domain, once synonymous with evREwares and its distinctive products, now serves an unrelated purpose, effectively erasing the memory of the company and its offerings from the online landscape. The transformation of the domain into a news blog raises questions about the future intentions of the new owners. It is unclear whether they saw potential in repurposing the domain for their news-related endeavors or if they recognized the domain’s value.
Regardless, the shift in focus signifies the end of an era for evREwares, as its online presence and legacy are now overshadowed by the unrelated content of the news blog. The fate of the domain serves as a reminder of the ever-evolving nature of the online world, where the virtual landscape can be repurposed and reinvented at the whim of its owners, leaving behind the traces of past ventures.
Current Status of Founders
In 2023, Becca still lists evREwares as her place of employment on LinkedIn, indicating that she may have continued her entrepreneurial journey or is involved in a related venture. However, information regarding Ellie’s current status is elusive. She had previously worked as a pharmaceutical sales representative and may have chosen to be a stay-at-home mom or explore new opportunities outside the business world.
Jennifer Pittman, the talented artist behind evREwares’ designs, has embarked on a different professional path. She is self-employed and works in graphic design, branding, advertising, and content management. Jennifer’s LinkedIn profile showcases her diverse skills and expertise, indicating a successful career in the creative industry.
evREwares Net Worth
The net worth of evREwares remains unknown. Unfortunately, the company went out of business, leaving questions about its financial standing. At the time of its appearance on Shark Tank, evRewares had a valuation of $333,333, showcasing the potential and perceived value of the business.
Deal Recap
Becca and Eli, the founders of evREwares, made a memorable appearance on Shark Tank during Season 6 in 2015. The pitch centered around evREwares’ innovative reusable adhesive fabric stickers product line. These stickers included bow ties, Sticky Ties, mustaches, and other designs that could be customized. It offered a unique way to accessorize clothing without causing any damage.
During its presentation, Becca and Ellie showcased the sticky technology that made the evREwares fabric stickers reusable and safe for clothes. They demonstrated the simple application and removal process of its flagship product, Sticky Ties, while emphasizing its versatility and suitability for multiple occasions, parties, or regular gatherings.
With high hopes for its business, the duo sought a $100,000 investment from the Sharks in return for a 30% equity in evREwares. However, some Sharks were not confident about the industry’s market size, competition, and growth potential.
Despite the reservations from other Sharks, Mark Cuban recognized the potential in the innovation made by evREwares and saw an opportunity for success. He boldly offered the entire $200,000 investment but with a significant condition – 100% company ownership. Becca Ellie considered the offer and eventually accepted, sealing the deal with Mark Cuban.
Accepting Mark’s offer marked a significant milestone for evREwares, as it secured the financial backing and expertise of one of the most successful entrepreneurs on the show. This successful outcome showcased the potential of its unique product line and positioned evREwares for future growth and success.
In entrepreneurship, not every success story has a fairy tale ending. Such is the case with evREwares, a company that made waves after its appearance on the popular TV show Shark Tank. While evREwares had its moment in the spotlight, its current status indicates that not all businesses can sustain long-term success.
FAQs
What did Mark Cuban do with evREwares?
He negotiated a deal on the program to acquire the company instead of investing in it. It turns out that the $200,000 offer to purchase the financially struggling novelty sticker business evREwares never materialized, which created exciting drama for the show’s viewers.
How does evREwares work?
Sticky ties are fabric accessories for parties, events, or even everyday wear that can be adhered to clothing without harm. The fabric stickers’ adhesive backing is sturdy enough to hold them in place yet delicate enough to remove without harming the clothes.
Who owns evREwares?
Becca Nelson and Ellie Brown established evREwares. The product was pitched to the sharks by Becca Nelson.