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What is Stringys?
Stringys are invisible panties that are designed to be completely undetectable under clothing, eliminating panty lines.
Stringys's Shark Tank Pitch Recap
Olivia and Elvira pitched Stringys, invisible panties designed to be undetectable under clothing. They sought $300,000 for 5% equity, based on a $10 million valuation. They had $180,000 in sales in 11 months. The Sharks were impressed with the product and the founders but found the valuation high. Kevin O'Leary initially offered $300,000 for a 5% stake plus a dollar royalty, but the founders countered. Barbara Corcoran ultimately offered $300,000 for 3% equity plus a $0.22 royalty in perpetuity, which was accepted.
Who invested in Stringys?
Barbara CorcoranStringys's Pitch Highlights
The founders had already raised $400,000 at a $10 million valuation before appearing on Shark Tank.
The product, Stringys, was so unique it took about 60 trials and errors to perfect.
One of the founders, Olivia, comes from a family of entrepreneurs and started modeling at the age of 12.
The founders claimed to have $180,000 in sales in just 11 months.
They projected $1.8 million in sales for the following year, with high demand and frequent sell-outs.
Stringys Shark Tank Update
- Product worn by celebrities like Doja Cat and Emily Ratajkowski
