Socktabs Shark Tank Update

Socktabs Shark Tank Pitch

Tracie Burress and Glen Burress appeared on Shark Tank Season 7, Episode 9, which aired on November 19, 2015, with tabs that keep socks together.

Socktabs is listed in the Clothing Fashion category. In plain terms, the business is described as tabs that keep socks together.

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

On the show, Socktabs made a listed deal with Daymond John for $50,000 for 30%.

If treated as straight equity, the listed deal works out to about $166,666.667 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.

Socktabs After Shark Tank

Socktabs accepted an on-air Shark Tank deal for $50,000 for 30%. Follow-up reporting lists the company as still operating after its Shark Tank appearance. (SockTabs Shark Tank Update

Socktabs reported annual revenue of $1 million as of May, 2021. (SockTabs Shark Tank Update

They've initiated a program that lets schools and other organizations sell SockTabs and keep 50% of the profits. (SockTabs Shark Tank Update

After appearing on the show, the couple appeared live on HSN, Daymond's shopping network partner. (SockTabs Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches