The Original Stretchlace Shark Tank Update

The Original Stretchlace Shark Tank Pitch

Jamie Montz and David Montz appeared on Shark Tank Season 12, Episode 24, which aired on May 14, 2021, with Shoelaces that switch your shoes from laced to slip-ons.

The Original Stretchlace is listed in the Accessories Gadgets category. In plain terms, the business is described as Shoelaces that switch your shoes from laced to slip-ons.

The Original Stretchlace asked the Sharks for $100,000 for 15%, implying a valuation of about $666,666.667.

On the show, The Original Stretchlace made a listed deal with Robert Herjavec for $100,000 for 30%.

If treated as straight equity, the listed deal works out to about $333,333.333 implied valuation, down from the original $666,666.667 implied valuation.

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

The Original Stretchlace After Shark Tank

The Original Stretchlace accepted an on-air Shark Tank deal for $100,000 for 30%. Later reporting says the deal did not close after filming. (StretchLace Shark Tank Update

By July 2024, The Original Stretchlace was reported at about $1 million in annual revenue. (StretchLace Shark Tank Update

As of December 2021, the business is in just about any store you'd expect The Original Stretchlace to be in: WalMart, Target and Amazon. (StretchLace Shark Tank Update

The Original Stretchlace now uses theoriginalstretchlace.com as its customer-facing site. (The Original Stretchlace website

Sources

Sources used for this page: Shark Tank API pitches