Follow us on Google News
Get the latest updates directly in your Google News feed
Plenty of businesses fail even after securing a deal onShark Tank. However, some businesses truly stand the test of time with their products and survive long after their first shot at fame on the reality TV show. One such company was the 3D greeting card brand Lovepop, which pitched itself in season 7.
The founders of Lovepop came in with their innovative designs and personalized greeting cards for the Sharks. After putting forth their business model and evaluation, the result was a short bidding war between Kevin O’Leary and Robert Herjavec. Since striking a deal on the show, Lovepop has gone on to reap incredible profits.
Kevin O’Leary believed in Lovepop for one reason
While the pitches onShark Tankare pretty interesting and apart from a few ridiculous products, most are serious, the companies more often than not fizzle out after their appearance on the show. Only some have survived in the sixteen seasons, and have reaped great profits.
“Even the other people on Shark Tank think he is an a**hole”: Kevin O’Leary Got No Mercy From Jon Stewart When He Exposed His Nasty Moves
Among those were the greeting card company Lovepop. The company was founded by John Wise and Wombi Rose, who reportedly met at a naval engineering school and later reconnected at a business school. The Harvard graduates reportedly did not take a job after they graduated from business school and chose to focus on Lovepop (viaShark Tank).
The 3D greeting card company set itself apart from other similar companies through its impressive artwork, designed on CAD-based software that the founders used initially for ship design. Wise and Rose handed out custom-made greeting cards to the Sharks, which had stylized popups for each of the judges. They asked $300,000 for 10% of equity.
While Mark Cuban, Barbara Corcoran, and Lori Greiner stepped out of the pitch early on, Robert Herjavec took a bite and initially offered the asking price for 20% of equity. Impressed that the founders were Boston-based,Kevin O’Learymatched Herjavec’s offer with the same equity. However, Wise and Wombi seemed to be reluctant to give up 20%.
After Herjavec tweaked his offer to 15% equity, O’Leary putting his synergized customer base into the mix, matched the offer and even emphasized his connection to Boston to attract the founders. That seemed to work as Lovepop raised $300,000 for 15% equity from Kevin O’Leary.
How good is Lovepop doing after its debut onShark Tank?
Kevin O’Leary seemed to be enthusiasticabout Lovepop from the get-go as he felt the founders were charging too low for an artisan-based business. His offer matched Robert Herjavec’s twice and finally got the deal due to his Boston connection and his apparent involvement in businesses that involved weddings, where the product would be a hit.
“We have to break the model”: The Investor Shark Tank’s Kevin O’Leary Wants to Partner With to Buy TikTok Has a Radical Plan for the Chinese-Owned Platform
Since its debut onShark Tank, Lovepop has actually reaped a lot of profits and was placed ninth in the top 10Shark Tankbusinesses that turned over a profit. The company expanded to multiple locations and has reportedly teamed up with the company Keytar Bear to hand deliver their greeting cards to customers (viaShark Tank blog).
CNBCreported that the company had garnered sales of $18.7 million in 2017 and they were slowly growing to be a promising start-up. The company by 2019 reported over $80 million in sales (viaCNBC). Lovepop reportedly pivoted to producing COVID-19 face shields during the pandemic and survived. The company reported $304 million in lifetime sales.
Nishanth A
Senior Writer
Articles Published :2416
Nishanth A is a Senior Entertainment Writer at FandomWire, majorly focusing on TV shows with over 2,000 articles published. He has been an entertainment journalist for the past two years and a scriptwriter at various corporations before that, working on educational content. With a Communications, English Literature, and Psychology triple major, Nishanth usually covers news and analyses on Star Trek, particularly Strange New Worlds and The Next Generation; Doctor Who, the DCU, and more.A Nolan fan, Nishanth spends his time exploring the filmographies of various directors with an auteurial style or can be found making short movies of his own. He has also contributed as a feature writer for Film Companion, focusing on the South division.
More from Nishanth A
Transformers Star Is Absolutely Right on Why He Rejected ‘The Penguin’
5 Bella Ramsey Performances So Good, You’ll Forget ‘The Last of Us’ Controversy
What Is Star Trek: Strange New Worlds Season 3 Episode 7 About? ‘What Is Starfleet’ – Everything We Know
Recommended
‘Bachelor in Paradise’ Season 10 Episode 9: Release Date and What to Expect
NYT Strands June 27, 2025 Hints and Solution
You Can Finally Watch Brad Pitt’s ‘F1’ Blockbuster at Home: Digital Release Date Revealed - Report
NYT Pips Solution for June 18, 2025
‘Game of Thrones’ Cast Ranked by Net Worth: Who’s the Richest GOT Actor?
Every Makoto Shinkai Main Character Ranked From Worst to Best
Kevin O’LearyShark tank
