Are you curious about what happened to Glove Wrap after their appearance on Shark Tank? This innovative product, designed to easily break in new baseball gloves, made a splash on the popular entrepreneurship show.
In this blog post, we’ll dive into the details of Glove Wrap’s Shark Tank pitch, the deal they secured, and where the company stands today. We’ll also explore the net worth of Glove Wrap and provide an overview of what makes this product so unique.
The Glove Wrap Pitch And Deal On Shark Tank
John, Morgan and Gavin enter into the Shark Tank, seeking $50,000 in exchange for a 20% stake in their company, Glove Wrap. They pitched their rubber band product that helps form the perfect pocket in a new baseball glove, simplifying the tedious process of breaking it in. The sharks were impressed to learn that Glove Wrap had already sold over 1,000 units, generating more than $19,000 in sales.
The Batarse family explained that it costs just $3 to produce each Glove Wrap, which wholesales for $10 and retails for $19.99. At the time of their pitch, Glove Wrap was available on Amazon, the company’s website, and in six mom-and-pop shops. They also revealed that they had presented the product to major sporting goods retailer Big 5.
After some deliberation, sharks Mark Cuban and Michael Rubin decided to partner with the Batarse family. They offered $50,000 for a 22% stake in Glove Wrap, which the family happily accepted. This deal provided the company with the funding and expertise needed to grow and expand their reach in the baseball equipment market.
Is Glove Wrap Still In Business?
Is Glove Wrap still in business? The answer is a resounding yes! The company has continued to thrive. In part to the exposure and support they received from their appearance on the show. Glove Wrap has expanded its product line to include gloves for other sports, such as softball and football.
They have also partnered with several youth sports organizations to promote their product and help young athletes break in their gloves more easily. The company’s website features glowing testimonials from satisfied customers who appreciate the simplicity and effectiveness of Glove Wrap.
Net Worth Of Glove Wrap
While the exact net worth of Glove Wrap is not publicly known, it’s clear that the company has experienced significant growth since its Shark Tank appearance. The deal with Mark Cuban and Michael Rubin, combined with the increased visibility from the show, has undoubtedly contributed to the company’s success.
Given the product’s affordable price point, low production costs, and growing popularity among baseball and softball players, it’s likely that Glove Wrap has seen a steady increase in sales and revenue. As the company continues to expand its product line and partner with more retailers and organizations, its net worth is poised to keep climbing.
Overview Of Glove Wrap
So, what exactly is Glove Wrap, and how does it work? This simple yet effective product is essentially a specially-designed rubber band that helps create the perfect pocket in a new baseball or softball glove. To use Glove Wrap, you simply place a ball inside the glove, wrap the Glove Wrap tightly around it, and leave it overnight. Repeat this process until you’re satisfied with the shape and feel of the glove’s pocket.
Traditional methods of breaking in a new glove, such as using shaving cream, oils, or even driving over it with a car, can be messy, time-consuming, and potentially damaging to the glove. Glove Wrap offers a safe, easy, and affordable alternative that helps prolong the life of the glove while ensuring a comfortable, game-ready fit.
Conclusion
Glove Wrap’s success story is a testament to the power of innovation, perseverance, and the platform provided by shows like Shark Tank. By offering a simple solution to a common problem faced by baseball and softball players, the Batarse family has created a product that has resonated with athletes and investors alike.
As Glove Wrap continues to grow and expand, it’s clear that this company is one to watch in the sports equipment industry. Whether you’re a seasoned pro or a young player just starting out, Glove Wrap offers an accessible and effective way to break in your glove and take your game to the next level. With the support of Mark Cuban, Michael Rubin, and a growing base of satisfied customers, the future looks bright for this Shark Tank success story.
