Shark Tank Update
Shark Tank Pitch
Susty Party Shark Tank Update
Published:
3m
New York, NY
| Name | Susty Party |
|---|---|
| Main Presenters | Jessica Holsey and Emily Doubilet |
| Presenter Image | |
| Product Image | |
| Last Known in Business | 1/1/2016 |
| Main Location | New York, NY Loading Map |
| Order Shown in Episode | 4 |
| Final Deal | All Sharks went Out |
Susty Party Shark Tank Pitch
Emily Doubilet majored in environmental studies at Oberlin College and enjoys entertaining people through parties. Jessica Holsey studied Economics and Harvard. The two met at a party and decided to make a sustainable party tableware company called Susty Party. Susty Party products are made in the USA at factories that employ the visually impaired (I believe the employees are visually impaired before they work there).
Emily describes the company culture as a little weird. They take breaks during work to dance or do yoga. Emily and Jessica say Susty Party is growing like crazy but is losing money quickly, and they need a cash infusion to survive. They have put in their life savings, left stable paying jobs, and owe angel investors over $200k at a 4-10% yearly interest. Susty Party has spent $300k to get to where they are today.
Susty Party is in Whole Foods. Last year they did $500k in revenue. This year have done $1 million in sales and are on track to finish the year at $1.5 million. Susty Party has been profitable for the last three months but will end the year with an $80k loss. They have $125k in inventory and $30k in the bank.
Susty Party does not own the solo rights to buy their products from the factories but is building a brand. Emily and Jessica believe an investment will allow them to expand their product line to 38 new skews and do $5 million in sales next year with a $600k profit next year.
Barbara loves the spunk but doesn't think she'll ever get her money out. Lori feels this could compete with a company she has already invested in. Mark worries about the management of the company. All the sharks go out except Kevin, who gives an aggressive loan offer that Emily and Jessica decline.
Offers
| Made By | Label | Sharks Part of Deal | Summary |
|---|---|---|---|
| Company | Offered | $250k for 10% of company | |
| Sharks | Out | Barbara Corcoran | Out |
| Sharks | Out | Robert Herjavec | Out |
| Sharks | Out | Lori Greiner | Out |
| Sharks | Offered | Kevin O'Leary | $250k loan with 10% interest for 30% of company |
| Sharks | Out | Mark Cuban | Out |
| Company | Offered | Kevin O'Leary | $250k loan with 10% interest and option to buy equity at a discount when they raise more money |
| Sharks | Out | Kevin O'Leary | Out |
Barbara Corcoran
Out
Mark Cuban
Out
Kevin O'Leary
Out
Lori Greiner
Out
Robert Herjavec
Out
Updates in Shark Tank Episodes
| Update Season | Update Episode |
|---|---|
| No Episode Updates | |
Susty Party After Shark Tank
Jessica Holsey and Emily Doubilet did an interview with Shark Tank Blog https://www.sharktankblog.com/susty-party-interview-emily-doubilet before airing. Emily was hosting parties in New York City when she had the idea in 2007. Emily researched the market for years, and Jessica joined in 2009. They each put in $40k. They started by selling off-the-shelf cups that they identified as eco-friendly and put their brand on them. In 2012 they got into Whole Foods and were in every location a year later.Link Preview
Shark Tank Blog
Emily went on the bizwomenrock.com http://bizwomenrock.com/shark-weekshark-tank-susty-party-with-emily-doubilet https://www.forbes.com/sites/hollieslade/2014/03/15/these-brooklyn-social-entrepreneurs-want-you-to-party-hard-party-without-red-plastic-cups/?sh=4e6a792d1e30 podcast in 2014. Emily said Shark Tank gave their brand some credibility, which helped more doors open for them, and they found another investor. According to a 2014 article by forbes.com Link Preview
bizwomenrock.com , Susty Party did $1.3 million in revenue in 2013 and raise $500k from Radicle Capital.Link Preview
forbes.com
The website, sustyparty.com, was not updated since 2016 and went down in 2020, though they still sell on Amazon https://www.amazon.com/stores/page/A03D7B93-1CE7-496D-883D-CF31FBF8C2BB?ingress=0&visitId=bd4fa3ed-6c95-40ef-b619-1c2cf8985933&ref_=as_li_ss_tl https://www.facebook.com/sustyparty https://www.instagram.com/sustyparty https://x.com/sustyparty as of 2023. Their Facebook Link Preview
Amazon , Instagram, @sustyparty Link Preview
Facebook , and Twitter, @sustyparty Link Preview
@sustyparty , last posted in 2016 as of 2023.Link Preview
@sustyparty
According to Jessica Holsey's LinkedIn https://www.linkedin.com/in/jessica-holsey-57590711, she left Susty Party in 2016. I couldn't find where Emily is as of 2023.Link Preview
LinkedIn
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