Solemates
Dealcap for shoes to prevent them from sinking into grass
Solemates, the cap for shoes to prevent them from sinking into grass, landed on the national radar after pitching the sharks in Season 8, and convinced Robert Herjavec to invest.
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Shark Tank products move fast. Names change, packaging changes, and some sell out or get discontinued. The Amazon button checks live price and availability for Solemates.
From the show
The Shark Tank pitch
- $500K
- Asked for
- 10%
- Offered equity
- $5M
- Sought valuation
- $500K
- Deal amount
- 20%
- Deal equity
- $2.5M
- Deal valuation
The entrepreneurs faced the sharks in Season 8, Episode 4 in the episode that aired October 14, 2016. Solemates, the cap for shoes to prevent them from sinking into grass, pitched in the Fashion & Beauty category, one of 239 fashion & beauty businesses to brave the Tank across all 17 seasons.
They came in asking $500,000 in exchange for 10% equity, putting a $5M valuation on the business.
Robert Herjavec made the deal at $500,000 for 20% equity. That priced the company at $2.5M, a haircut from the $5M the founders walked in asking for, which is how negotiations in the Tank usually go.
Across Season 8, 59 of 96 pitches ended in a handshake. In the Fashion & Beauty category overall, roughly 58% of pitches have landed a shark across the show's history.
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Frequently asked questions
Where can I buy Solemates?
Check current price and availability on Amazon. Note that some Shark Tank products are discontinued or sold under a new name.
Did Solemates get a deal on Shark Tank?
Yes. Solemates closed a deal for $500,000 in exchange for 20% equity, with Robert Herjavec.
Which shark invested in Solemates?
Robert Herjavec invested in Solemates ($500,000 total as aired).
What season of Shark Tank was Solemates on?
Solemates appeared in Season 8, Episode 4, which aired October 14, 2016.
How much was Solemates asking for on Shark Tank?
The founders asked for $500,000 for 10% of the company, a $5M valuation.
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