What Happened to Zinepak after the Shark Tank Pitch?
What exactly is ZinePak?
ZinePak is a customized publishing company that offers limited-edition items and collectibles to superfans.
They collaborate with well-known artists, celebrities, and companies to develop special items such as magazines, collectibles, and mixed-media bundles for their super fan base.
Each package includes a variety of products ranging from CDs to movies and trading cards of fans’ favorite artists, particularly bands such as KISS, Taylor Swift, and Katy Perry.
Who is the inventor of ZinePak?
Kim Kaupe and Brittany Hodak established ZinePak. The dynamic duo met in October 2010 while working at Fathom Communications, a marketing agency in New York City.
Hodak has a background in music, and Kaupe has a background in publishing, thus their collaboration was an instant success.
While working as a college representative for Warner Music Group and engaging on conference calls with music business executives in 2004, Hodak had the idea for the start-up.
She quickly saw that they were always whining about the popularity of music downloads having a negative influence on the company’s future.
“Essentially, the calls were intended to inspire these 40 college students from throughout the country and to give us a sense of what life was like in different regions of the country.”
But it was usually something along the lines of, ‘You darn youth with your digital downloading,’ Hodak said. “It’s ruining the music business.”
Customers may be tempted to acquire tangible music if a more intriguing and fascinating alternative to standard CDs was presented.
She gave a presentation to Warner executives at the time, and while it was authorized, no one took her proposal seriously.
When Hodak met Kaupe, she “understood it right away,” and the two co-founded ZinePak in January 2011.
Since then, they’ve grown ZinePak into a multi-million dollar company with over $25 million in sales.
They meet with the customer, discuss ZinePak ideas, and then assign their personnel to create content and extras for the package.
A ZinePak can be produced as a retail item or as a promotional item for a specific event. There are also digital ZinePaks available.
What Happened to Zinepak at Shark Tank Pitch?
Kim and Brittany made an appearance on Shark Tank season 6 episode 26 with a $725,000 offer for a 10% share in the firm. This works out to a $7.25 million valuation.
They intend to utilize the funding to expand their business beyond the music industry. They offer away free Shark trading cards as samples.
In this day and age of digital downloads, their business model is to provide physical items such as music CDs.
They’ve already generated $30 million in sales and are continually expanding. Nobody at Brittany’s prior job thought this idea would work, so they created the firm. Customers are being turned away on purpose.
Kevin then says he wants to make an offer and raises the conditions to $725,000 in exchange for 35%, which he believes is what a venture capital firm would provide the two females due to the enormous level of risk placed in the lone customer, but Kim and Brittany decline.
Despite their expected income of $8 million for the coming year, they require the assistance of a Shark to help them develop into other sectors.
Mark says he senses the two women’s anguish after hearing that; physical music is a fading business, and the two of them are fully aware of it.
While sales are strong, the physical music industry is likely to continue to decline, thus Mark feels it is in his best interests to withdraw from the agreement.
Daymond then makes a $725,000 bid for a 30% ownership in the firm. Lori proposes to invest with Robert for $725,000 for a 20% ownership. Robert says he understands.
Daymond then lowers his offer to 25%, but Kevin maintains his previous offer of 35%.
The women remind Kevin that the $3 million figure represents their overall sales to date and that their official sales will be revealed online. Kevin then lowers his offer to 30% of the initial sum.
After a little pause, Kim and Brittany react with $725K at 14 percent. Mr. Wonderful has left the home. Daymond decreases his shareholding to 20%.
Lori and Robert agree to meet with the two ladies in the center and make them a $725,000 offer in exchange for a 17.5% stake in the company, which they accept.
What Happened to Zinepak after the Shark Tank Pitch?
Kim and Brittany entered seeking $725K for 5% of the business and they got a $725,000 offer in exchange for a 17.5% stake in the company from Lori and Robert.
Lori and Robert’s deal never came to fruition. Their appearance on Shark Tank, however, helped their business, and the company rebranded itself as The Superfan Company.
ZinePak has a website with a list of their products, some of which are exclusively accessible on Amazon and others on Wal-Mart.
In 2018, Hodak sold her company’s stake for an undisclosed sum in order to focus on speaking and consulting.
In 2020, Kim renamed the firm Bright Ideas Only.
She had to change her name due to a cease-and-desist order for trademark infringement on the phrase “superfan.”
The company is still in business as of August 2021, with annual sales of $5 million.
What is Zinepak’s net worth?
Kim and Brittany made an appearance on Shark Tank season 6 episode 26 with a $725,000 offer for a 10% share in the firm. This works out to be a $7.25 million valuation.
They accepted a $725,000 investment from Robert and Lori for a 17.5% share, bringing the price to $4.1 million.
The current valuation is clearly greater since the company has developed.
Who are Zinepak’s competitors?
No Zinepak rivals have been identified.
1. Which year was Zinepak started?
The firm was founded in 2011.
2. Where can they find more information about Zinepak?
They can find more information by visiting their official website atwww.brightideasonly.com
3. Who is Zinepak’s CEO?
Hodak left her position in 2019 to pursue other projects, while Kaupe remains the CEO in charge today.
4. What is Zinepak’s physical address?
The corporate headquarters is based in Austin, Texas.
5. What is Zinepak’s e-mail address?
Their official email address is [email protected]
6. How can they contact Zinepak?
The best way to contact Zinepak is through their website which can be found at www.brightideasonly.com
7. Who is the founder of Zinepak?
Kim Hodak founded the firm with Brittany Kaupe in 2011.
8. Is Zinepak still in business?
Yes, the company is still in business as of August 2021. Its annual sales are $5 million.
9. How much were they seeking in the Shark Tank?
The value of the offer was $725,000 for 10% ownership.
10. Who invested in Zinepak?
Kim Hodak and Brittany Kaupe accepted an offer of $725,000 for 17.5% ownership from Robert and Lori.
11. Did they close the deal?
No, Kim and Brittany have not closed the deal with Robert and Lori.