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What Happend to Black Paper Party After Shark Tank?

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Despite the significance of holidays to individuals, the traditional imagery associated with them has remained largely unchanged over time. Recognizing the need for representation and diversity in festive decorations, Black Paper Party emerged as a pioneering force in our ever-evolving world.

As a proud black women-owned business, Black Paper Party is dedicated to offering Christmas décor and accessories that authentically reflect the African American community.

From beautifully crafted ornaments to vibrant wrapping paper, mixing bowls, and mugs, our diverse range of products ensures everyone can find something special.

Our celebration of variety extends to portraying Black people of different ages, body types, skin tones, and hair textures, fostering inclusivity and creativity in every aspect of our offerings.

ABC at a Glance:-

IdeaHoliday products for Black representation
FoundersJasmine Hudson, Madia Willis, and J’Aaron Merchant 
Asked For$250,000 for 5% equity
Accepted Deal$250,000 for 10% equity 
SharksBarbara Corcoran
Business statusIn Business
Episode No.Season 15
Buy on AmazonBuy Now!

Index:

Founder Story:

The three co-founders of the Black Paper Party, albeit different in background, are united in their wish to see greater tolerance and acceptance in the world.

CEO Madia Willis started her fashion business after completing her education in Ghana. She later worked as a textile designer for major retailers including Target and Walmart. Willis eventually went on to work for Walmart and Five Below in management and product development roles, where she assisted in the introduction of a number of seasonal and home brands.

J’aaron Merchant, the Chief Creative Officer, has a wealth of animation and illustration skills. Merchant has experience working as a character designer and storyboard artist for companies like Disney and Sesame Street. She received her degree in animation from Savannah College of Art and Design. She has volunteered for a number of organizations, such as Havenwood and the Crystal Bridges Museum of American Art.

The Chief Merchant of Black Paper is Jasmine Hudson. The native of Cincinnati has dedicated her career to advancing Black voices in supply chain management and e-commerce. Hudson managed portfolios with annual revenue of more than $2.3 billion while employed with Walmart for almost ten years in a variety of retail and financial positions. She also oversaw important programming initiatives and events that promoted inclusivity and diversity during this time.

While relocating to Arkansas, Willis got to know Merchant and Hudson. After deciding to pool their talents, the three discovered that African Americans, on average, spend 15% more over the holidays than other demographics. Seeing a gap in the market for inclusive seasonal brands, the three made the decision to go all in and start their company in September 2020.

Did Black Paper Party get a deal on Shark Tank?

Black Paper Party, a company that creates and markets Christmas ornaments and wrapping paper with Black figures like “Papa Klaus” and “Nana Klaus,” nabbed a “shark.”

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Businesswoman and investor Barbara Corcoran consented to a $250,000 agreement with the company.

The three firm founders first asked for a $250,000 investment in return for a 5% stake in the company. In the end, they invested $250,000, but 10% of the shares went to Corcoran.

After considerable back and forth regarding whether Corcoran would work with investment guru Mark Cuban to close a deal, that agreement was reached.

What happened to the Black Paper Party after Shark Tank?

Black Paper Party was well-known in the industry even before they appeared on Shark Tank; on their website, a number of their products were frequently sold out.

The brand’s aggressive pricing strategy, which includes present wrapping paper at $5 per piece and a three-pack gift bag set at $15, contributes to its appeal.

Moreover, the cost of each of their embellishments is approximately $20. Their products are now more affordable, but they are also able to meet the needs of the market with quality and affordability, as evidenced by their cheap costs.

The dynamic trio that founded Black Paper Party, Madia Willis, J’Aaron Merchant, and Jasmine Hudson, have big plans for the company’s growth. The company intends to broaden its product line by offering culturally acceptable gifts for Valentine’s Day, birthdays, and other special events.

Given their established track record and the popularity of their current product line, there’s a good chance that their expansion will yield comparable outcomes.

It is noteworthy that the Black Paper Party was started by the founders using their own funds as well as the support of friends and family, exhibiting their commitment, morality, and hard work.

They have come a long way thanks to this sense, which also provides a strong foundation for their continued development and success.

What’s the net worth of Black Paper Party?

At the time of the Shark Tank pitch, the founders valued the venture at $5 million but later dragged down to $2.5 million by the Sharks. The current estimated net worth of Black Paper Party is $3.5 million. By 2023, Other Holiday Season is projected to reach $28 billion, contributing to the estimated $7.8 billion global market size.

This industry gets more competitive with the larger the market.

Is Black Paper Party still in business?

Yes, as of March 2024, the Black Paper Party is still in operation.

Many others have already joined the team of three Black women who are working to build their firm. Barbara Corcoran is a great partner for them if they need to expand into retail locations and enhance their marketing strategy.

There are one to ten employees at this Bentonville, Arkansas-based corporation.

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FAQs:

What is Black Paper Party?

Black women-owned business Black Paper Party provides Christmas décor and accessories that accurately represent the African American community. The firm offers a broad selection of exquisitely designed goods, ranging from ornaments and wrapping paper to mixing bowls and colorful mugs, and everything in between. A celebration of variety that includes Black people of various ages, body types, skin tones, and hair textures unites their creativity.

What's the net worth of Black Paper Party?

At the time of the Shark Tank pitch, the founders valued the venture at $5 million but later dragged down to $2.5 million by the Sharks. The current estimated net worth of Black Paper Party is $3.5 million.

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