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Pink Picasso Shark Tank Update

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Pink Picasso – Everyone’s favorite paint-by-numbers kit. Numbers kit is a brand that has Pink Picasso and Modern Monet offering complete paintings. Each pink Picasso kit has several paintings and photographs. Canvas have numbers printed on them, which makes it very easy to match the paintings to the number and a photograph that is prepared.

Pink Picasso has a painted map for beginners to learn easily and enjoy. Pink Picasso offers new custom paintings which are unique and striking. Pink Picasso is a painting kit for kids and they are in all the big painting stores. Pink Picasso is available on their official website and trending on Amazon too. Pink Picasso came on the biggest investment-seeking platform called Shark Tank America to expand their business by jumping into big box retail. Pink Picasso kits cost $ 42 and kits for kids are available for $28 on Amazon. Pink Picasso is different from other market brands as they sell everything required for the customers to create their masterpieces. Did they get a deal? Do sharks love the concept?

Pink Picasso at a Glance:-

IdeaA painting kit with all the colors, for both adults and kids.
FoundersWives Ashley and Brittany Silfies
Asked For$400,000 for 5% equity
Accepted Deal$400,000 for 15% equity
SharksLori Greiner And Daniel Lubetzky
Business statusIn Business
Episode No.Season 13, Episode 7
WebsitePink Picasso
Buy on AmazonBuy now!

Index:

Who are the founders of Pink Picasso?

Wives Ashley and Brittany Silfies are the founders of Pink Picasso. Ashley is a former procurement manager. The duo started their business in 2010 using the brand name Numbers kits. Number kits have three different paint kits; Pink Picasso, Modern Monet and Wear Your Sole.  During the period of the pandemic, kits grabbed the market rapidly and in 2019, they were listed as one of Oprah’s favorite things.

When business gets a peak throughout 2019 – 2020, many offers come to their doorsteps. The duo started this business with an initial investment of $1500. When they started, they used to do everything on their own and have helping hands from their children. They also faced marital complications during their journey. To get their lifestyle back on track, ladies jumped into the business and launched number kits.

Did Pink Picasso get a deal on Shark Tank?

Wives Ashley and Brittany Silfies, founders of Pink Picasso, came to the show seeking an investment of $400,000 for 5% equity in the business. Founders shared the concept of modern craft and other details about their kit. The duo shared the journey of their complicated marriage life and how they came up with the idea of Pink Picasso. Lori loved them and when asked about the sales, Ashley replied they had sales of $1.3 million in 2019 and by 2020 the sales had increased to $3.5 million with a profit margin of $900,000 and were expecting to touch $5,000,000 by 2021.

Ashley and Silfies, when asked about the need for investment, Silfies said they need a mentor to go into a big box and have a vision of licensing a brand like Disney. Kevin O’Leary cut the whole discussion by giving an offer of $400,000 for 33.3% equity in the business along with the demand for shares in the distribution. Lori Greiner loved everything about Pink Picasso and gave an offer of $400,000 for 20% equity in the business along with Daniel.

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Barbara Corcoran gave them financial advice and said they didn’t need any sharks and went out. Mark Cuban agreed with Barbara and suggested they go with their flow. Ashley and Silfies were just discussing and Barbara Corcoran changed her mood and gave an offer of $400,000 as a loan at an 8% interest rate along with 5% equity in the business. Daniel shared that if he went individually, then his offer would be $400,000 for 10% equity, but, having two sharks, justified the ask for 20% equity.

Kevin O’Leary updated his offer to $400,000 for 3% equity along with a $6 royalty per unit. Mark Cuban suggested ladies go with Barbara’s offer. Ashley and Silfies gave a counteroffer of $400,000 for 15% equity in the business to Lori and Daniel. They agreed to the counter and the deal was closed.

What happened to Pink Picasso after the Shark Tank Show?

After the shark tank show, the deal made on the show was never closed. Once the show aired, Daniel tweeted about being partnered with Lori Greiner and shared his excitement. 

During the pitch, they came up with a valuation of $8,000,000, which was later updated to $2,666,666.67. After the show, when the show aired, Pink Picasso started getting attention from new customers. Parents were very happy to buy something which could help their kids to learn with enjoyment, which later turned out to be a free marketing campaign for Pink Picasso. Ashley and Silfies are the founders of Numbers Kits, which involves more products like Pink Picasso kits. Before the shark tank, they used to have Pink Picasso, Modern Monet, and others. After the show, they made a new kit addition named Violent Van Gogh.

The pink Picasso adult kit costs $3.77 to make and is wholesale for $19 and retails for $42. The pink Picasso kids kit retailed for $28 on the market. Each kit has a complete pack of paintings. Founders started number kits with an initial investment of $1500 and as of 2022, they have annual revenue of $5 million. 

Pink Picasso is available in more than 2000 art shops and is available on Amazon too. Pink Picasso offers direct discounts of 15% on your first purchase,  so, go grab a deal at here.

Competitors of Pink Picasso are:-

  • Carlisle Art
  • Art Supplies
  • National Arts
  • Corinne Melanine Arts
  • Artworx Geelong

What is the net worth of Pink Picasso?

The valuation during the show was $8,000,000, which was later updated to $2,666,666.7. The estimated net worth of Pink Picasso is $5 million.

Is Pink Picasso still in business?

Pink Picasso is available on the market and is doing great. Founders added a new product line called Violent Van Gogh which is also available in more than 2000 art stores. As of 2022, they are booming in terms of sales, and the valuation of the business is also improved.

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FAQs:

What is Pink Picasso?

Numbers kit is a brand that has Pink Picasso and Modern Monet offering complete paintings. Each pink Picasso kit has several paintings and photographs. Canvas have numbers printed on them, which makes it very easy to match the paintings to the number and a photograph that is prepared.

Who founded Pink Picasso?

Wives Ashley and Brittany Silfies are the founders of Pink Picasso. Ashley is a former procurement manager. The duo started their business in 2010 using the brand name Numbers kits. Number kits have three different paint kits; Pink Picasso, Modern Monet and Wear Your Sole.

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