What Happened to Bala Bangles After Shark Tank?
What is Bala Bangles?
Bala Bangles is a firm that has developed a device that protects your hands and wrists when dealing with sensitive gadgets. It is made of elastic looped steel wire that wraps securely around your wrist, eliminating any damage caused by accidently breaking the wires within the project. It is not only useful but also fashionable.
Bala Bangles was founded by Maximilian Kislevitz and Natalie Holloway. They formerly worked at 72and Sunny, a marketing firm located in Los Angeles.
Natalie is a daily practitioner and yoga instructor in addition to being involved in the day-to-day operations of their business, while Maximilian continues to work full-time.
Who is the creator of the Bala Bangles?
Bala Bangles was created by Maximilian Kislevitz and Natalie Holloway. They formerly worked at 72and Sunny, a marketing firm located in Los Angeles. Natalie is a daily practitioner and yoga instructor in addition to being involved in the day-to-day operations of their business, while Maximilian continues to work full-time.
Max Kislevitz and Natalie Holloway, husband and wife business owners, are seeking for a Shark to invest in their company, Bala. Max and Natalie are both yoga enthusiasts seeking for a means to increase the intensity of their regularly tough practices.
They were aware that adding weights to their wrists and ankles would help them achieve that goal, but the products on the market lacked the mobility required for yoga and were also unappealing.
Bala Bangles was born as a result of their decision to take action. Their ankle and wrist weights are unlike any other useful product on the market right now.
Bala Bangles look to be trendy yet huge bangles. They come in a variety of colors and weights of one or two pounds.
They are made of cast iron that has been silicon-coated and are both sweat- and dishwasher-safe. They came up with the idea while traveling around Asia for six months and decided to fund the initial manufacture through a Kickstarter campaign.
In February 2018, they raised $50,448. The products are now available at over 500 retail locations around the country, including Nordstrom and Amazon. A set of one-pound bangles costs $49, while two-pound bangles cost $65.
What Happened to Bala Bangles’ Pitch on Shark Tank?
While the products are incredibly popular among yoga and Pilates aficionados, the couple is likely looking for Shark help in negotiating offshore production and growing retail distribution.
Max and Natalie entered the Shark Tank seeking $400,000 for a 10% ownership in the company, which worth $4 million.
They tell their experiences and give away free samples. The Sharks like the bangles’ design and are especially thrilled with the sales figures: $2.5 million in income.
Their problem is a lack of inventory. They are unable to fulfill demand, preventing them from expanding. The Sharks started making bids right away.
Kevin is the first to commit, with a $400,000 loan at a 7.5% interest rate and a 5% equity stake.
Maria offers $200,000 in return for a 30% share, but she would rather work with another Shark. She also indicated that she would prefer more shares because she would be the product’s spokesperson.
Lori tries to work with Maria, but Daymond offers her $200,000 for the same percentage.
Lori’s makes a fresh offer of $500,000 for an 18% share in the company.
Mark and Maria, on the other hand, step in and offer $900,000 for a 30% ownership in the company. Max and Natalie accept and close the deal.
What Happened to Bala Bangles After Shark Tank?
After all, Sharks were eager in investing in the Bala Bangles Company, and the deal was finalized, and Bala is flying off the shelves.
Lori and Daymond have also put money into this enterprise. They’ve almost probably dealt with their inventory issues.
The corporation benefitted from the fact that people were unable to utilize the gym as a result of the lockdowns at Covid-19. They’ve sold millions of dollars’ worth of items and are rapidly expanding. As of June 2021, they produce $3 million in sales each year.
Bala Bangles’s net worth
The firm was valued at $4 million during the Shark Tank pitch; after being investment done by the two Sharks, the company was valued at $3 million, and they have made sales since then with yearly revenue of $3 million.
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Bala Bangles FAQs
What is Bala?
Bala Bangles are elastic looped steel wire that wraps securely around the wrist, eliminating any damage caused by accidentally breaking the wires within the project.
What does Bala do?
Bala Bangles are forethought and an ingenious project which prevent damage from your jewelry wire when working with beads. They were designed to protect the delicate hands from harm and also to make working with beads more convenient and comfortable when using difficult combinations of colored beads.
What are Bala Bangles made from?
Bala Bangles are made from cast iron that has been silicon-coated, which is both sweat- and dishwasher safe.
How do you wear Bala Bangles?
Users wear them by wrapping them around their wrist, then sliding the attached clasp up to hold it in place as they work with beads.
Are Bala Bangles comfortable to wear?
Bala Bangles are made with a Silicone coating which makes them very light and easy to adjust.
6. What size beads will fit on Bala Bangles?
Any size bead, from the traditional 6mm size up to the largest 20mm, will work perfectly fine with Bala Bangles.
Where can you buy Bala?
Bala is available in select Nordstrom stores across the United States, as well as on the web at Nordstrom.
What is the Bala warranty?
Bala Bangles are covered by a full satisfaction guarantee for any defective or damaged product.
Are Bala Bangles safe to use?
The lightweight design of Bala Bangles allows user to work with beads whilst also protecting their wrists from any harmful cut-glass or small shards of glass that may be within the design.
Do Bala Bangles come in different sizes or weights?
Currently, Bala Bangles are available in one size with a weight of 2 pounds. However, they are available in numerous colors and will be launching new colors in the future.
How much do Bala Bangles cost?
Bala Bangles retail for $49.00 per pair on sites such as Amazon, eBay, and Etsy, with a pair weighing 2 pounds (8oz)
What is Bala Bangles return policy?
As they are a high-quality product, Bala Bangles come with a 30-day money-back guarantee, but only if the product is in new condition.
What are Bala Bangles payment terms?
Bala Bangles is currently using PayPal, Visa, and MasterCard.
What are the colors in which Bala Bangles are sold?
Bala Bangles come in 4 colors: Blue, Orange, Gold, and Silver.