Bala Bangles has a net worth of $50 million. The company generates $29 million in annual sales, according to Shark Tank.
Maria Sharapova and Mark Cuban invested $900k for 30% in the company. Sharapova also played an important role in the company’s growth in global markets, especially during Covid Lockdown.
Bala Bangles Net Worth
| Net Worth | $50 Million |
| Sales Revenue | $26 Million |
| Amazon Sales | $15 Million |
| Retail Sales | $11 Million |
| Profits | $8 Million |
| Lifetime Sales | $75 Million |
| Employees | 20+ |
| Sold in | 60+ Countries |
Returns for the Sharks
Cuban and Sharapova invested $450k each in Bala Bangles. As of today, each of them received $3 Million in shares in profits, which accounts for a 1200% Return on their investment.
Their 900k investment in the company is now valued at $27 million, making Bala Bangles one of the most successful products on Shark Tank only behind Bombas Socks and Doorbot.
Sales after Shark Tank
When Bala Bangles appeared on Shark Tank, the projected annual sales were $2.5 Million. In the next year after appearing on Shark Tank, Bala Bangles made over $10 million in sales.
Later on, when Covid struck the world, Bala Bangles made use of Sharapova’s huge marketing potential and expanded rapidly.
Due to the lockdown, Gyms were closed and as a result, the sales of Bala Bangles reached $20 million annually, during the Covid Lockdown.
As of today, they expanded to many countries and partnered with over 150 sporting brands and retailers, with the help of Mark Cuban.
Despite the lunge forward in sales, Bala Bangles has felt the burn that often accompanies startup success. Most notably, finding popularity on Amazon has made it vulnerable to counterfeits.
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Bala Bangles Shark Tank Pitch
Bala Bangles was founded by Max Kislevitz and Natalie Holloway. In 2017, they invented the Bala Bangles, weight-adjustable wrist, and ankle bracelets that mimic fashion accessories.
To kick off production, they raised $40,000 on Kickstarter and added $10,000 of their own savings.
In 2019, Bala hit $2 million in sales, thanks to pick-up from stores and sites like Free People, Goop, and Bandier. By the end of 2020, Bala grew by 10x, wrapping the year with $20 million in revenue.
They appeared on Season 11 Episode 13 of the Shark Tank. As of that day, Bala Bangles was available in over 500 retail locations across the United States. They pitched for a $400k investment for 10% equity in the company.
Kevin is the first Shark to make an offer. He offers a loan of $400k at a 7.5% rate of interest. Lori asks for 18% equity for a $500k investment. When Lori tries to partner with Sharapova, Mark Cuban joins the party.
Who are the Owners of Bala Bangles?
Bala Bangles was founded by Max Kislevitz and Natalie Holloway.