What Happened to WisePocket Products After Shark Tank?
What is WisePocket Products?
WisePocket Products is a firm that creates a trendy and unique brand of socks with a pocket large enough (6-inch deep) and sturdy enough to hold a mobile phone, an epi-pen, an inhaler, or whatever else you need close at hand.
WisePocket was created by Sofia Overton, a 13-year-old from Bentonville, Arkansas. Sofia indicated that all she needed was a handy spot to carry a little object, such as an epi-pen, with her everywhere she went.
She said, “My mother is allergic to peanuts and always carries an Epi-pen with her in case she comes into contact with them. I also have her inhaler in my pocket.” Sofia’s sock line inspired the design of WisePocket.
Who is the founder of WisePocket Products?
Wise Pocket Products was founded in 2017 by Sofia Overton of Bentonville. Her company creates clothing for active children with built-in pockets for storing their items. She came up with the idea when she was 13 years old.
When she saw her cousin put her phone in her boot, she realized her pants didn’t have any pockets. Sofia tried the same method, but her phone, which had fallen inside her boot, didn’t work.
She decided to create socks with pockets for those times when you need a little more storage. Sofia is interested about social concerns as well. She thinks that 600 children in her school district are homeless, so for every pair she sells, she donates a pair of socks to a homeless shelter.
She’ll soon move on to leggings with pockets. Sofia had a lot of help from her parents, her patent attorney, her local Chamber of Commerce, and the folks at Start-Up Junkie in getting WisePocket off the ground.
Sofia got her first orders in early 2018, following a successful IndieGoGo campaign that netted her $10, 06 in funding.
The first socks were issued in October of that year. They come in white, black, and “splatter paint.” Each pair of sneakers will set you back $15. She had supplied socks to 25 homeless children’s shelters across the United States as of Christmas 2018.
What Happened to WisePocket Products pitch on Shark Tank?
Sofia Overton, a 13-year-old girl, wants the Sharks to invest in WisePocket, her socks with pockets, in Shark Tank episode 11 seasons 11. Sofia needs the support of a Shark to convert WisePocket into a “real” firm.
Sofia entered the Shark Tank in seeking of $30,000 in return for a 15% stake in her company, which valued at $200,000.
After describing her firm and providing her samples, she says she needs money to increase production because she can only produce 100 pairs per month at the moment.
The Sharks were pleased by her ability to self-fund the corporation with $5,000 of her own money and another $5,000 through business competitions.
The Sharks all like her, and Kevin and Mark both exit the deal, wishing Sofia well with her business.
Daymond and Lori band together to make a bid. They were interested in licensing and have offered $30,000 in exchange for 33.3% ownership of the company.
Sofia replies with $35,000 for a 25% stake in the firm, which the Sharks accept and leave the pitch with a deal.
What Happened to WisePocket Products After Shark Tank?
The deal with Lori and Mark was finalized two months after the first air date, when Sofia left the pitch with a deal, and Wise Pocket is now available on Lori’s website.
Although it hasn’t been long, it doesn’t appear like a licensing arrangement has yet been achieved. Perhaps additional information will become available in the following months.
As of July 20, 2021, Lori’s website no longer lists the company. They are still in business, albeit reliable income figures are unavailable.
WisePocket Products’ Competitors
SockGuy is WisePocket Socks’ main competitor.
WisePocket Products’ Net Worth
During the pitch, the firm was valued at $200,000; following Lori and Mark’s investment, the company was valued at $120,000.
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WisePocket Products FAQs
What is WisePocket Products?
WisePocket Products is a firm that creates a trendy and unique brand of socks with a pocket large enough (6-inch deep) and sturdy enough to hold a mobile phone, an epi-pen, an inhaler, or whatever else you need close at hand.
Where did WisePocket Products come from?
WisePocket Products was created by Sofia Overton, a 13-year-old from Bentonville, Arkansas.
What sparked the idea for WisePocket Products?
The founder began designing her socks when she realized that her pants had no pockets to store her phone, an epi-pen, or other objects she needed close by at all times.
How does WisePocket Products work?
WisePocket Products enable people to carry useful items in their pocket.
What happened to WisePocket Products after the Shark Tank?
After a successful appearance on Shark Tank, the firm managed to raise $35,000 from Lori Greiner and Mark Cuban for 25% equity.
What is the most popular product offered by WisePocket Products?
WisePocket Products offer a variety of products for children and adults. The most popular product is WisePocket Socks.
What is WisePocket Products made of?
WisePocket Products’ pockets are made with a lightweight and durable material.
How much do WisePocket Products cost?
While the Socks cost $15, the leggings are $35.
What is WisePocket Products’ most popular product?
The most popular product offered by WisePocket Products is their socks with pockets, which can hold a mobile phone, an epi-pen, or an inhaler.
What is WisePocket Products return policy?
WisePocket Products offer a 100% money back guarantee. If the customer is not satisfied, he has 14 days to return the item for a full refund.
How long does WisePocket Products take in shipping?
Items ordered from the firm are shipped within 3-4 days.
Does WisePocket Products sell internationally?
Yes, WisePocket Products can ship to locations outside of the United States.
Is WisePocket Products’ packaging recyclable?
Yes, WisePocket Products’ packaging is recyclable, and they encourage customers to recycle.
What is WisePocket Products warrant?
WisePocket Products offer a lifetime guarantee for their products. Customers have 60 days from the date of purchase to return an item and receive replacement or refund.
What is the best place to buy WisePocket Products?
WisePocket Products are available from several websites, including Amazon.com, The QVC website, and Lori Greiner’s website.
Is WisePocket Products washable?
Yes, WisePocket Products are machine washable.
How do I make payment to WisePocket Products?
WisePocket Products accept payments via PayPal and credit cards.
