The producers of “Shark Tank” say they connect promising startups with affluent investors so the company can grow. It’s natural to ask how good the show does, given that it’s a reality series. Is an investment from “Shark Tank” beneficial to a company’s growth, or does it simply help a company get more exposure?
Bryan Perla, a Stanford University student and the creator of Little ELF, debuted on Season 11 in 2019. What Perla sells is straightforward: it’s a device that facilitates cutting straight lines in wrapping paper. It’s functional but only applicable at certain times of the year, which might reduce its marketability.
Perla pitched the Sharks a deal: $150,000 for 15% ownership. Two Sharks, home buying expert Lori Greiner and “Mr. Wonderful” Kevin O’Leary, showed immediate interest. Perla and Greiner negotiated for a while, and in the end, Perla agreed to give Greiner 20% of the business in exchange for $150,000. (via Shark Tank Recap). It’s been two years since then. So, how is the elfin one today?
Little ELF’s Success After Appearing on Shark Tank
Before their appearance on “Shark Tank,” the founders of Little ELF had already made $250,000 in sales and had their product listed on Amazon. According to Barbara Corcoran, Perla may not even require the assistance of the Sharks (via USA Today).
As it turned out, business at Perla’s establishment was brisk even after she made her appearance. IG Design Group, “the world’s leading gift wrap maker and distributor,” joined forces with Design Group Americas in 2020. Thanks to their collaboration, Little ELF can now be found at retailers like Walmart, Target, and Bed Bath & Beyond around the country. Over 20,000 retail locations across the world carried Little ELF in 2020. crowdfunding campaign
In November of 2021, the company’s yearly revenues were close to $900,000. It’s roughly worth about a million dollars (via Youthful Investor). And thus, Little ELF’s success story rolls on. That success may or may not have been helped by “Shark Tank”; however, it is debatable.
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