SneakERASERS Shark Tank Update

SneakERASERS Shark Tank Pitch

Chris Pavlica and Kevin Consolo appeared on Shark Tank Season 12, Episode 23, which aired on May 7, 2021, with clean-tech erasers that clean your shoes.

SneakERASERS is listed in the Accessories Gadgets category. In plain terms, the business is described as clean-tech erasers that clean your shoes.

SneakERASERS asked the Sharks for $200,000 for 8%, implying a valuation of about $2.5 million.

On the show, SneakERASERS made a listed deal with Lori Greiner for $200,000 for 20%.

If treated as straight equity, the listed deal works out to about $1 million implied valuation, down from the original $2.5 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

SneakERASERS After Shark Tank

SneakERASERS accepted an on-air Shark Tank deal for $200,000 for 20%. Later reporting says the deal closed after filming. (SneakERASERS Shark Tank Update

By August 2022, SneakERASERS was reported at about $5 million in annual revenue. (SneakERASERS Shark Tank Update

Products from SneakERASERS are at Kroger’s, Walmart, Costco, CVS, and many other retail locations. (SneakERASERS Shark Tank Update

The company introduced a new product for cleaning purses called PursERASORS. (SneakERASERS Shark Tank Update

SneakERASERS now uses www.ftibrands.com/sneakerasers as its customer-facing site. (SneakERASERS website

Sources

Sources used for this page: Shark Tank API pitches