Glove Wrap Shark Tank Update

Glove Wrap Shark Tank Pitch

Jon, Gavin, and Morgan Batarse appeared on Shark Tank Season 15, Episode 3, which aired on October 13, 2023, with Baseball and softball glove wraps.

Glove Wrap is listed in the Fitness Outdoors category. In plain terms, the business is described as Baseball and softball glove wraps.

Glove Wrap asked the Sharks for $50,000 for 20% equity, implying a valuation of about $250,000.

On the show, Glove Wrap made a listed deal with Mark Cuban for $50,000 for 22% equity.

If treated as straight equity, the listed deal works out to about $227,272.727 implied valuation, down from the original $250,000 implied valuation.

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

Glove Wrap After Shark Tank

Glove Wrap accepted an on-air deal for $50,000 for 22% equity. After filming, that deal closed. (Glove Wrap Shark Tank Update – Shark Tank Season 15

Before Shark Tank, Glove Wrap had around 30 million views online. (Glove Wrap Shark Tank Update – Shark Tank Season 15

After the episode aired, Glove Wrap expanded to stores across the U.S. and received Glove Wrap's first purchase order from Dick’s Sporting Goods. (Glove Wrap Shark Tank Update – Shark Tank Season 15

At the time of Glove Wrap's pitch, Glove Wrap had made just $19,000 in sales. (Glove Wrap Shark Tank Update – Shark Tank Season 15

Glove Wrap originally sold through its own website and six small retail stores before the Shark Tank exposure. (Glove Wrap Shark Tank Update – Shark Tank Season 15

Sources

Sources used for this page: sharktankblog.com