Black Paper Party Shark Tank Update | Black Paper Party Net Worth

Black Paper Party is a company that appeared in Episode 08, Season 15 of Shark Tank. It is a Black women-owned operation offering a line of holiday decor items and accessories that authentically represent the African American community. 

Their products include decorative mugs, mixing bowls, wrapping paper, and ornaments. Black Paper Party is known for its commitment to inclusivity, featuring Black individuals of all ages, body types, skin tones, and hair types.

The company’s founders, Madia Willis, J’aaron Merchant, and Jasmine Hudson, have made significant achievements in their respective fields. 

Madia Willis, the CEO, has a background in fashion and product development, having worked at major companies such as Target and Walmart. 

J’aaron Merchant, the Chief Creative Officer, has extensive experience in illustration and animation, having worked for brands like Sesame Street and Disney. 

Jasmine Hudson, the Chief Merchant, has a background in e-commerce and supply management, having worked at Walmart.

Black Paper Party has garnered attention from media outlets such as Ebony, “The Kelly Clarkson Show,” and BuzzFeed. They have partnered with major brands and events, including Macy’s and Walmart. 

The company’s business has been growing rapidly but faces challenges in scaling its operations and raising capital.

Black Paper Party is a company that offers inclusive holiday decor items and accessories. Their products celebrate diversity and authentic representation of the African American community. 

With its success and partnerships with major brands, Black Paper Party is positioned as a strong choice for those seeking holiday decorations that reflect inclusivity and representation.

Company NameBlack Paper Party
EntrepreneurJasmine Hudson, Madia Willis, J’Aaron Merchant
ProductBlack people-centric holiday products
Investment Asking For$250,000 in exchange for a 5% equity in Black Paper Party
Final Deal$250,000 in exchange for a 10% equity in Black Paper Party
SharkBarbara Corcoran
Black Paper Party Episode Season 15, Episode 08
Black Paper Party Business StatusIn Business
Black Paper Party WebsiteVisit Website
Black Paper Party’s Net Worth$2.5 Million

What Is Black Paper Party?

Black Paper Party is a company that believes in the power of celebration and representation. They are a group of passionate women on a mission to spread joy, create memories, and foster inclusivity through their cheerfully seasonal products.

Black Paper Party offers holiday essentials that feature illustrations of Black people with unique prints and patterns. Their product range includes gift wraps, ceramics, stockings, and bags.

Black Paper Party Shark Tank Update | Black Paper Party Net Worth

With a focus on diversity and cultural representation, Black Paper Party aims to provide holiday essentials that look like you and celebrate Black joy.

Whether you shop online or at a store near you, Black Paper Party invites you to celebrate and create joyful memories with their products.

Who Is The Founder Of Black Paper Party?

Black Paper Party was founded in 2020 by three pioneering women: J’Aaron “Jae” Merchant, Jasmine Hudson, and Madia Willis.

J’Aaron “Jae” Merchant, the Chief Creative Officer, is a Caribbean illustrator and animator with a background in children’s literature, animated film, and television. 

She has worked with major companies like Disney, Sesame Street, and PBS Kids and is passionate about using visual storytelling to showcase diverse representation. 

Jae is also a co-founder of Black-Owned NWA, highlighting and amplifying Black-owned businesses and resources.

Jasmine Hudson, the Chief Merchandising Officer, is an entrepreneurial retail professional with experience developing, launching, and scaling major national brands and products.

She has a degree in e-commerce and supply chain management and has worked at Walmart in various positions, gaining expertise in merchandising, buying, and financial planning.

The Chief Executive Officer, Madia Willis, is a textile designer and entrepreneur. She studied textile design at prestigious institutions and has worked for companies like Target and Walmart in roles related to product development and sourcing. Madia’s professional experience includes creative direction at a major retail giant.

The idea for the Black Paper Party emerged during a brainstorming session when the founders noticed a significant lack of holiday decorations and wrapping paper depicting Black families and experiences. 

Frustrated yet inspired by this gap in the market, they decided to launch Black Paper Party and introduce Black representation into the festive imagery seen during the holiday season.

Before appearing on Shark Tank, Black Paper Party had already established itself as a brand that aimed to spread joy and foster inclusivity through cheerfully seasonal products.

They offered wrapping paper, ornaments, home goods, and other holiday products that authentically represented diverse communities.

The founders noticed the immense spending power of African American consumers during the holiday season and saw an opportunity to fill a gap in the market.

They initially tested selling designs online using Print on Demand before officially incorporating Black Paper Party in September 2020.

The company had received positive customer feedback, with many expressing how deeply they resonated with the wrapping paper designs depicting Black families.

The founders took pride in creating merchandise that reflected true representation and belonging. Before appearing on Shark Tank, Black Paper Party’s products had already earned impressive accolades and media coverage.

Notably, the co-founders won first place at Macy’s prestigious Vendor Pitch Competition in 2022, which included a $100,000 business grant.

The company has also been featured by major media outlets such as The Today Show, Kelly Clarkson Show, Bloomberg, Black Enterprise, Essence, Ebony, Huffington Post, and more.

Black Paper Party had made remarkable progress toward its goals by gaining visibility, securing partnerships with major retailers like Walmart, Target, and Macy’s, and receiving validation from respected institutions.

The founders were driven by their original vision of representation, belonging, and joy for all families, and they looked forward to expanding their product offerings and reaching wider audiences in the future.

How Was The Shark Tank Pitch Of Black Paper Party?

During their Shark Tank pitch, the founders of Black Paper Party, Jasmine Hudson, Madia Willis, and J’Aaron Merchant, introduced their company as a creator of holiday products focusing on Black representation.

They emphasized the importance of providing wrapping paper and other items that reflect the experiences and traditions of Black families during the holiday season.

The entrepreneurs sought a $250,000 investment for 5% equity in their business, valuing Black Paper Party at $5 million.

They explained that their product line included culturally relevant and seasonal items such as gift wrap supplies, ornaments, and holiday decor.

Their designs were created by J’Aaron, who served as the designer behind all the characters, while Madia transformed those characters into print patterns for their graphics.

Black Paper Party Shark Tank Update | Black Paper Party Net Worth

Jasmine, Madia, and J’Aaron also shared their plans to expand beyond seasonal products in the near future. They mentioned that their products were already sold in major retailers such as Macy’s, Target, Walmart, Dollar General, and Family Dollar, totaling over 6,000 retail locations.

They highlighted their sales growth, with revenues of $44,000 in 2020, $274,000 in 2021, and $844,000 in 2022. Additionally, they projected sales of $1.1 million for the year of filming.

The Sharks had different perspectives on the product and investment opportunity. Lori Greiner admired the entrepreneurs but stated that seasonal products were not her area of expertise.

Kevin O’Leary expressed concerns about the company’s distribution strategy and decided not to invest.

Daymond John questioned the company’s $5 million valuation and how he could profitably return.

Barbara Corcoran and Mark Cuban showed interest in investing and eventually made joint offers. Barbara initially offered $250,000 for 15% equity, while Mark joined in with the same investment amount for 20%.

The founders countered with a higher offer of $450,000 for 18% equity, hoping to secure a better deal. However, Barbara and Mark were not convinced by this counteroffer.

Madia then presented a new offer to Barbara: $250,000 for 10% equity. Mark stepped out of the deal at this point, leaving Barbara as the sole investor.

Barbara eventually agreed to the new offer, and Black Paper Party made a final deal with her: an investment of $250,000 in exchange for 10% equity in their company.

Ultimately, the founders of Black Paper Party successfully secured a $250,000 investment from Barbara Corcoran in exchange for a 10% equity stake in their business on Shark Tank.

The table below summarizes the Shark Tank pitch and the investment offers:

SharkInvestment OfferCounter Offer by FoundersFinal Deal Accepted by Founders
Barbara Corcoran$250,000 for 15%$450,000 for 18%$250,000 for 10%
Mark Cuban$250,000 for 20%
Lori GreinerNo offer
Kevin O’LearyNo offer
Daymond JohnNo offer

Did Black Paper Party Get a Deal on Shark Tank?

Yes, Black Paper Party got a deal on Shark Tank. On Shark Tank, Black Paper Party sought a $250,000 investment for 5% equity. The sharks were impressed with their success and projected sales growth. 

Despite some skepticism from Kevin O’Leary and Daymond John, Barbara Cocoran offered $250,000 for 15% equity. She later teamed up with Mark Cuban for an offer of $250,000 for 20% equity. 

After negotiations, Black Paper Party accepted a deal with Barbara Cocoran for a $250,000 investment for 10% equity.

What Happened To Black Paper Party After Shark Tank?

After appearing on Shark Tank, Black Paper Party experienced a significant boost in their business. They closed a deal with Barbara Corcoran, one of the show’s investors, which valued their company at an estimated $2 million. This exposure on national television helped increase their brand awareness and credibility.

As a result, Black Paper Party is expecting a surge in sales, particularly during the Christmas season. The founders anticipate their appearance on Shark Tank will drive at least $100,000 in sales.

In an interview with talkbusiness.net, they projected that their sales for 2023 would reach $1.1 million. In terms of distribution, Black Paper Party’s products can be purchased online and in-store.

Their website, BlackPaperParty.com, showcases over 200 culturally diverse seasonal products, including award-winning illustrations on gift wrappers and unique Christmas ornaments.

These products are available at major retailers such as Walmart, Macy’s, Target, CVS, Dollar General, and Family Dollar.

To ensure long-term success, the founders understand the need to diversify their range of products beyond just Christmas-themed items. They plan to expand into creating gift items for other special occasions, such as birthdays and Valentine’s Day.

It is noteworthy that Black Paper Party is a black-owned business, which is encouraging. According to data from Brookings.edu, black-owned firms brought in an estimated $141.1 billion in gross revenue in 2020.

Black Paper Party’s success contributes to this economic impact and promotes diversity and inclusivity in the retail industry.

Black Paper Party experienced a positive outcome after appearing on Shark Tank. They secured a deal with Barbara Corcoran, expect increased sales, and expanded their distribution channels.

By diversifying their product range and leveraging their strong brand presence, Black Paper Party is well-positioned for continued growth in the future.

Black Paper Party Shark Tank Update

After appearing on Shark Tank in Season 15, Episode 8, Black Paper Party experienced significant developments and growth in various aspects of their business.

They expanded their product offerings, streamlined their online platform, and formed partnerships to increase their market reach.

Black Paper Party increased its product range, offering customers a broader selection of sustainable and stylish gift wrap options. They also improved their online platform, making it easier for customers to find and purchase their products.

Black Paper Party has forged partnerships with other businesses to expand its market presence and enhance its brand visibility in the competitive gift wrap industry.

Black Paper Party designs and sells eco-friendly, reversible gift wraps made from recycled paper. The company sells directly to consumers online and on large retail platforms, enabling them to reach a broad audience.

The company differentiates itself with diverse patterns and designs, appealing to customers seeking unique and stylish wrapping options.

Black Paper Party Shark Tank Update | Black Paper Party Net Worth

Black Paper Party faces challenges from well-established brands in the market that already have a loyal customer base and wider recognition.

However, by leveraging their Shark Tank exposure and staying committed to their eco-friendly mission, they can carve out a significant niche in the eco-conscious segment of the market.

Black Paper Party aims to expand its product line beyond eco-friendly, reversible gift wrap by diversifying designs and incorporating more seasonal and event-specific themes.

They also plan to enhance sustainability efforts, establish retail partnerships, engage in marketing campaigns, and strengthen their e-commerce capabilities.

Ultimately, Black Paper Party has experienced growth and expansion in its business after appearing on Shark Tank. Focusing on sustainability, unique designs, and customer satisfaction, they continue to meet the demands of conscious consumers looking for stylish and eco-friendly gift-wrapping options.

Is Black Paper Party Still In Business?

Yes, Black Paper Party is still in business. The company was founded by Madia Willis, J’aaron Merchant, and Jasmine Hudson. They appeared on Shark Tank and secured a deal with investor Barbara Corcoran.

Since their appearance on the show, Black Paper Party has experienced positive growth and featured in media publications such as CNN and NBC News.

With a focus on scaling their business, the co-founders are actively expanding their team and working towards better marketing strategies.

The headquarters of Black Paper Party is located in Bentonville, Arkansas, United States, and the company currently has 1-10 employees.

Despite the competitive nature of the holiday decoration industry, Black Paper Party continues to thrive and is expected to benefit from the larger market size.

What Is the Net Worth Of Black Paper Party?

According to our research, Black Paper Party’s net worth is estimated at $2.5 million. The valuation of Black Paper Party was $2.5 million after securing an investment from Barbara Corcoran on Shark Tank.

Also, read about other businesses that appeared on episode 08 of season 15 of Shark Tank.

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