The Original Stretchlace
DealProduct that turns any laced shoe into a slip-on
Best known from its Shark Tank appearance, The Original Stretchlace is a product that turns any laced shoe into a slip-on in Season 12, and convinced Robert Herjavec to invest.
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From the show
The Shark Tank pitch
- $100K
- Asked for
- 15%
- Offered equity
- $667K
- Sought valuation
- $100K
- Deal amount
- 30%
- Deal equity
- $333K
- Deal valuation
Jamie and David Montz walked into the Tank in Season 12, Episode 24 in the episode that aired May 14, 2021. The Original Stretchlace, the product that turns any laced shoe into a slip-on, pitched in the Home & Lifestyle category, one of 260 home & lifestyle businesses to brave the Tank across all 17 seasons.
On the carpet, the number was $100,000 for a 15% stake, which valued the company at $667K.
Robert Herjavec made the deal at $100,000 for 30% equity. That priced the company at $333K, a haircut from the $667K the founders walked in asking for, which is how negotiations in the Tank usually go.
The Original Stretchlace was one of 100 businesses to pitch in Season 12, where 71 deals got done. In the Home & Lifestyle category overall, roughly 68% of pitches have landed a shark across the show's history.
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Frequently asked questions
Where can I buy The Original Stretchlace?
Check current price and availability on Amazon. Note that some Shark Tank products are discontinued or sold under a new name.
Did The Original Stretchlace get a deal on Shark Tank?
Yes. The Original Stretchlace closed a deal for $100,000 in exchange for 30% equity, with Robert Herjavec.
Which shark invested in The Original Stretchlace?
Robert Herjavec invested in The Original Stretchlace ($100,000 total as aired).
What season of Shark Tank was The Original Stretchlace on?
The Original Stretchlace appeared in Season 12, Episode 24, which aired May 14, 2021.
How much was The Original Stretchlace asking for on Shark Tank?
The founders asked for $100,000 for 15% of the company, a $667K valuation.
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