Zorpads Shark Tank Update

Zorpads are the manufacturers of brand new pads and the most comfortable and convenient shoe odor elimination pad pads available on the market. Zorpads counter one of the most common problems which are usually ignored by people or they use temporary solutions to it, which is wearing a shoe pair for a long time makes it stink and is hard to get rid of. It also makes the house smell pungent.

This problem he can solve with the use of Zorpads. The secret behind Zorpads is NASA- Tested Technology. If we talk about size, Zorpads are smaller than playing cards and easily stick to the insole of any kind of shoe. Every pack of Zorpad has a moisture-wicking layer, an odor-absorbing layer, and an adhesive layer. Zorpad is a porous, carbon fabric on the surface area of the tennis court which almost vacuums up the foot stink.

Zorpads at a Glance:-

IdeaActivated carbon odor-absorbing shoe insert
FoundersTaylor Wiegele and Sierra Smith
Asked For$150,000 For 8%
Accepted Deal$150,000 For 22.5 %
SharksLori Greiner And Charles Barkley
Business statusIn Business
Episode No.Season 10, Episode 13
WebsiteZorpads
Buy on AmazonBuy Now!

Index:

Who are the founders of Zorpads?

Zorpads was co-founded by friends Taylor Wiegele and Sierra Smith. They created Zorpads as a school project while they were attending Harvard Business School and further developed the product in Harvard Innovations Lab.

They had $25K as venture funding and made the product ready to launch in the market. They found out that powder was too messy to put in the shoes and the inserts seemed bulky. They solved the problem of shoe odor by developing Zorpads.

Did Zorpads get a deal on Shark Tank?

Taylor and Sierra came to the shark tank show seeking an investment of $150,000 for 8% of the business. They explained their product, its processing, and its uses. They handed a few samples to the Sharks and shared the total sale till their appearance on the show. Zorpads had a total sales of $103,000 from the day/date it started. Zorpads was launched in 2017 on the market. Taylor said they founded this company while working for SpaceX, which shocked all the sharks.

When asked, Taylor said, Zorpads wanted this investment to build a brand and develop a marketing sector. Mark Cuban said he didn’t like their marketing strategies and went out. Lori Greiner offered to go in with Charles, justifying her statement by saying she’d bring Charles and his size seventeen to QVC to demonstrate for $150,000 in exchange for 30% equity. Kevin O’Leary gave an offer of $150,000 for 20% equity. Robert Herjavec offered the same as Mr. Wonderful.

Taylor and Sierra gave a counter offer to Lori and Charles at $150,000 for 20% equity. They refused the deal. Kevin O’Leary changed the offer to $150,000 for 15% equity. Robert Herjavec cut it down to 12% equity, which had no impact on Taylor and Sierra, as they wanted to have Lori and Charles as mentors.

See also  PetPlate Shark Tank Update

Lori Greiner and Charles gave a final offer of $150,000 for 22.5 % equity. Mark Cuban made it understood to Zorpads that when you are getting what you wanted, then why lose it for 2.5% equity? Taylor and Sierra accepted the deal with Lori and Charles and took their checks.

What happened to Zorpads after Shark Tank?

After the show, Zorpads were able to get huge attention and new customers, in addition, as they had solved a small, huge-looking problem. After the show, as of May 2019, it did not seem sure whether the deal made on the Shark Tank was closed or not.

Still, Taylor and Sierra, founders of Zorpads, had made it reach Amazon and Walmart. During the period of ( Covid -19  ), In May 2020, Zorpads donated 10% of their profits to the No Kid Hungry trust so that all the kids get hygienic and nutritious food during the period.

During the pitch, they asked for a valuation of $1,875,000. Zorpad’s price ranges on the market between $4 to $5 and can be ordered from their official website, Amazon, and from Walmart. As per reports for July 2021, Lori seemed to be out of the deal, but Charles is still there for Zorpads.

Competitors of Zorpads

  • Nakefit
  • Native Deodorant
  • Digitsole Smartshoe

What is the net worth of Zorpads?

The estimated net worth of Zorpads is more than $ 1 million. The deal finalized on the show gave a valuation of $421,875. In years, the net worth of Zorpads will increase on the business scale.

Is Zorpads still in business?

As of July 2021, they are still operating and have also served the No Kid Hungry during the pandemic call. Taylor and Sierra are completely running it as a full-time job and it is very successful in the market. As of 2021, they have annual revenue of $ 4 million. They also had to face some supply issues, but they must get over them. Zorpads is a small pack of products with a big problem-solving capacity.

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FAQs:

What is Zorpads?

Zorpads are the manufacturers of brand new pads and the most comfortable and convenient shoe odor elimination pad pads available on the market. Zorpads counter one of the most common problems which are usually ignored by people or they use temporary solutions to it, which is wearing a shoe pair for a long time makes it stink and is hard to get rid of.

Who founded Zorpads?

Zorpads was co-founded by friends Taylor Wiegele and Sierra Smith. They created Zorpads as a school project while they were attending Harvard Business School and further developed the product in Harvard Innovations Lab. They had $25K as venture funding and made the product ready to launch in the market.

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