Pat Yates hoped that the Sharks could put Happy Feet in episode 519. Happy Feet is his comfortable slipper firm that has been in business since 1996 and is based in New York City.
What Are Happy Feet?
Happy Feet slippers are not the same as your grandmother’s. They are lighthearted, entertaining, and ridiculously comfy.
I felt as though I was walking on cushions while wearing Happy Feet. Happy Feet is designed solely to provide a relaxing foot vacation.
You can purchase these adorable slippers in every color and print, including leopard print, zebra print, and bright colors.
They have also got lions, tigers, giraffes, and even sharks on their property. The Happy Feet are a fun and engaging activity for all ages.
They’ll be so comfortable that you won’t bear to take them off! These Happy Feet slippers are made entirely of polyester and have a one-inch tread made of foam rubber, making them the most comfortable slippers you have ever worn.
|Company Name||Happy Feet|
|Product||Slippers with style and comfort|
|Investment Asking For||$375,000 For 15% equity in Happy Feet|
|Final Deal||$375,000 For 25% equity in Happy Feet|
|Episode||Season 5 Episode 23|
|Business Status||In Business|
Who Is The Founder Of Happy Feet?
The Happy Feet Slippers are the brainchild and inspiration of Louisville, Kentucky, resident Pat Yates. The slippers have been available since the 1990s, mostly through mall kiosks.
Snooki began wearing the brand on the MTV show Jersey Shore, which increased its popularity tremendously. Yates is not a fool at all.
He eventually convinced Snooki to design her plush animal slippers, which are now part of the Happy Feet brand.
Happy Feet Before Shark Tank
Happy Feet is the name of his pleasant footwear, a pair of enormous slippers that look like gigantic shoes and make walking feel like walking on air.
From Louisville, Kentucky, Pat Yates is credited with creating Happy Feet. Depending on the situation, he thinks of them as his favorite animal or sports team.
They will be unable to remove his slippers because they are so comfortable.
There are a variety of colors and patterns available, along with official licenses from the NBA, NCAA, NFL, and Major League Baseball. The public has undoubtedly taken notice of his invention.
The company said they see lots of business in California, Florida, and Kentucky, which are the states where they sell the most Slippers.
The company ships worldwide and even offers international shipping through its website.
How Was The Shark Tank Pitch Of Happy Feet?
Pat enters the Shark Tank requesting an investment of $375,000 in exchange for 15 percent ownership in Happy Feet.
Robert offered $375,000 for a 30% stake in Happy Feet. Pat counters with a 25 percent offer, to which Robert responds, “I’ll take it!”
RESULTS: Robert agreed to invest $375,000 for a 25% equity in Happy Feet.
What Happened To Happy Feet After Shark Tank?
Sales and profits of Happy Feet have increased exponentially since Pat appeared on Shark Tank in 2013.
Happy Feet now offers products from organizations such as the NFL, NBA, NCAA, MLB, and even some professional football teams like Barcelona FC and Manchester United FC in addition to the basic slippers that Pat demonstrated on Shark Tank. Happy Feet is based in Los Angeles, California.
Happy Feet slippers are currently available on the company’s official website for about $30 a pair, and the Snooki-licensed slippers can still be purchased.
According to the company, you can also get slippers for as little as $12 on the Happy Feet website.
Happy Feet Shark Tank Update
Pat Yates negotiated the contract with Robert Herjavec and struck a deal with DreamWorks franchises including Shrek, Kung Fu Panda, Madagascar, and How to Train Your Dragon. Both of these deals were announced on the same day.
Happy Feet has secured licensing agreements with the NBA, NFL, MLB, and NCAA as a direct result of the transaction that was struck with Robert Herjavec on Shark Tank.
Amazon and the Happy Feet website now offer a selection of Happy Feet Slippers that total more than 450 different designs.
The cost of Happy Feet might range anywhere from twenty to thirty dollars.
The next year, the company’s revenues reached $4.2 million, thanks to his performance.
Robert estimates that the licensing agreement will generate tens of millions in sales. He’s subsequently added a pair of Marvel-themed slippers to his collection.
Pat believes that his involvement with Shark Tank aided in closing the purchase because it provided him with a “whole new level of credibility.”
According to corporation records, happy Feet still generates $5 million per year in revenue as of February 2022.
Are Happy Feet Still In Business?
The sharks were amazed by how comfortable the product was and how it captivated them.
Some referred to these boots as “moon boots.”. This isn’t surprising considering the positive reviews on Amazon.
Kevin and Lori’s teams, who had teamed up to take on Robert, were involved in a shark fight. Happy Feet eventually agreed to a deal with Robert in which he would receive $375K in exchange for 25% of the company.
Happy Feet has gained licensing agreements with the NBA, NFL, MLB, and NCAA following Robert Herjavec’s appearance on Shark Tank.
Happy Feet Slippers are now available in more than 450 different styles on Amazon, including on the Happy Feet website. There are a lot of slippers to choose from. They range in price from $20 to $30.
What Is the Net Worth Of Happy Feet?
The valuation of Happy Feet was $2.5 million when it appeared on Shark Tank. The net worth of Happy Feet is $5 million as of 2022.