Solemates Shark Tank Update

Solemates Shark Tank Pitch

Monica Ferguson and Becca Brown appeared on Shark Tank Season 8, Episode 4, which aired on October 14, 2016, with protective high heel caps.

Solemates is listed in the Clothing Fashion category. In plain terms, the business is described as protective high heel caps.

Solemates asked the Sharks for $500,000 for 10%, implying a valuation of about $5 million.

On the show, Solemates made a listed deal with Robert Herjavec for $500,000 for 20%.

If treated as straight equity, the listed deal works out to about $2.5 million implied valuation, down from the original $5 million implied valuation.

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

Solemates After Shark Tank

Solemates accepted an on-air Shark Tank deal for $500,000 for 20%. The on-air deal did not close. The company is still in business. (SoleMates Shark Tank Update

Solemates reported annual revenue of $2 million as of November, 2023. (SoleMates Shark Tank Update

They ended up doing a deal with CVS and are now in over 4000 of their stores. (SoleMates Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches