Shark Tank Update
Shark Tank Pitch
The Paint Brush Cover Shark Tank Update
Published:
3m
New York, NY
| Name | The Paint Brush Cover |
|---|---|
| Main Presenters | Sal DePaola, John DePaola, and Anthony Caputo |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 2/6/2023 |
| Main Location | New York, NY Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | Deal was made on the show with sharks Lori Greiner for $100k for 20% of company and $100k to fund purchase order. |
The Paint Brush Cover Shark Tank Pitch
Sal DePaola, John DePaola, and Anthony Caputo grew up in a rough neighborhood in New York City. Sal worked as a firefighter and started a painting business during his time off. Sal, John, and Anthony helped with painting and created The Paint Brush Cover, a plastic cover that stops paint brushes from drying out.
The Paint Brush Cover has done $35k in total revenue, mostly in the last three months. They want to use the money to build inventory to fill orders they have on hand, such as Bunnings, a hardware store in Australia, which wants to place an order for $450k worth of units.
Kevin got the offers started with a royalty offer, followed by Robert getting involved. Then Lori made an offer with a $100k add-on if Sal, John, and Anthony accepted just then. Barbara starts to offer $100k for something, but the guys accept Lori's deal before they lost her $100k. Barbara tells Lori after the deal that she was going to offer $300k with a $500k credit line though she doesn't mention the equity ask. Barbara seemingly really wanted that one, and some of it might be credited to Sal's looks and charm.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $50k for 10% of company | |
| Sharks | Offered | Kevin O'Leary | $50k for 0% of company and a 10% royalty |
| Sharks | Offered | Robert Herjavec | $50k for 20% of company |
| Sharks | Offered | Kevin O'Leary | $100k for 5% of company and a 10% royalty |
| Sharks | Deal | Lori Greiner | $100k for 20% of company and $100k to fund purchase order |
Mark Cuban
Barbara Corcoran
Kevin O'Leary
Offered
Lori Greiner
Made Deal
Robert Herjavec
Offered
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
The Paint Brush Cover After Shark Tank
Sal DePaola went on the The Limitless MD https://podcasts.apple.com/us/podcast/build-a-business-without-giving-up-your-dream-day/id1606759882?i=1000569881224 podcast in 2022. Sal said when he was 21, he saw the World Trade Centers in New York City get hit, which inspired him to be a firefighter, and in 2022 continues. Sal was always hustling on the side.Link Preview
The Limitless MD
In season 1, episode 6 of Beyond The Tank, we got an update that Lori wanted to change the packaging to red, which Sal and John are resistant to due to their emotional connection with creating the branding. Lori brings them to Home Depot for a test and convinces them that red is the way to go. The Paint Brush Cover rolls out into Home Depots nationwide.
In season 6, we got an update that The Paint Brush Cover made $2.5 million in sales. They are introducing a paint roller cover.
The Paint Brush Cover closed a deal with Lori and was profitable early on but Sal found as they got involved with retailers like Home Depot they had some issues. Eventually, Sal had a bad partner which led to Sal himself getting bought out and leaving.
According to app.com https://www.app.com/story/news/crime/jersey-mayhem/2017/12/18/shark-tank-operation-snowball-john-depaola/961231001, John DePaola was involved with a cocaine distribution ring, which he believed he was not wrongly accused of, but nonetheless did not look good for the brand.Link Preview
app.com
Sal went on to open a few gyms but realized it wasn't very profitable. Sal found the most important skill he learned through his businesses was sales. Sal went on to work for a friend in an investment finance business and eventually branched off to start his own called Pre-IPO NYC, which can be seen on his LinkedIn https://www.linkedin.com/in/salvatoredepaola.Link Preview
LinkedIn
As of 2023 Anthony Caputo appears to be working in finance according to grantvest.com https://www.grantvest.com/team/anthony-caputo https://www.instagram.com/sal_depaola https://www.saldepaola.com. Sal is active on his Instagram, @sal_depaola Link Preview
grantvest.com , where he periodically posts about his business ventures, and his personal website is saldepaola.com Link Preview
@sal_depaola .Link Preview
saldepaola.com
The Paint Brush Cover's website is thepaintbrushcover.com https://www.thepaintbrushcover.com and while their social media is mostly unused as of 2023, their products are still available on their website and stores, including Home Depot.Link Preview
thepaintbrushcover.com
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