LUCY Drawing Tool Shark Tank Update

LUCY Drawing Tool Shark Tank Pitch

Les Cookson appeared on Shark Tank Season 13, Episode 19, which aired on April 8, 2022, with drawing tool that projects images for you to trace over.

LUCY Drawing Tool is listed in the Media Entertainment category. In plain terms, the business is described as drawing tool that projects images for you to trace over.

LUCY Drawing Tool asked the Sharks for $300,000 for 10%, implying a valuation of about $3 million.

On the show, LUCY Drawing Tool made a listed deal with Daymond John for $300,000 for 15%.

If treated as straight equity, the listed deal works out to about $2 million implied valuation, down from the original $3 million implied valuation.

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

LUCY Drawing Tool After Shark Tank

LUCY Drawing Tool accepted an on-air Shark Tank deal for $300,000 for 15%. Later follow-up coverage says the deal closed. (Lucy Drawing Tool Shark Tank Update

As of July 2024, LUCY Drawing Tool was reported at about $3 million in annual revenue. (Lucy Drawing Tool Shark Tank Update

The company added a drawing set, an easel and water color paints to the line. (Lucy Drawing Tool Shark Tank Update

LUCY Drawing Tool remains active online through drawlucy.com, which serves as its current storefront. (LUCY Drawing Tool website

Sources

Sources used for this page: Shark Tank API pitches