The Woobles Shark Tank Update

The Woobles Shark Tank Pitch

Adrian Zhang and Justine Tiu appeared on Shark Tank Season 14, Episode 2, which aired on September 30, 2022, with Learning crochet kits for beginners..

The Woobles is listed in the Education category. In plain terms, the business is described as Learning crochet kits for beginners..

The Woobles asked the Sharks for $250,000 for 5%, implying a valuation of about $5 million.

On the show, The Woobles made a listed deal with Mark Cuban and Lori Greiner for $450,000 for 6%.

If treated as straight equity, the listed deal works out to about $7.5 million implied valuation, up from the original $5 million implied valuation.

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

The Woobles After Shark Tank

The Woobles accepted a Mark Cuban and Lori Greiner offer on air, then continued scaling as a beginner crochet-kit brand rather than depending on a narrow Shark Tank product bump. (The Woobles Shark Tank Update

At the time of taping, The Woobles had already reached $3.1 million in year-to-date sales and projected $7 million for the year, giving the Sharks a business with real velocity before the episode even aired. (The Woobles Shark Tank Update

The current Woobles site is active and much broader than the original pitch, with beginner kits, themed bundles, accessories, and licensed character collaborations. (The Woobles Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches