Kaylin Marcotte is attempting to piece together a deal for Jiggy Puzzles, a high-end jigsaw puzzle company, in Shark Tank episode 1224.
Jigsaw puzzles became her passion after she assisted in The Skimm, an online news site.
Kaylin relied on jigsaw puzzles every night before bed as a way to decompress after working at a startup. Kaylin left The Skimm in November 2019 and founded Jiggy.
Kaylin commissioned female artists from New York City to design puzzles to promote female empowerment.
She is also committed to environmental stewardship, so she ships her puzzles in recyclable glass jars and uses carbon-neutral shipping materials.
It was predictable that sales would slow after the 2019 holiday season. Lockdowns caused by Covid-19 caused revenues to increase by 550 percent in March.
She knew by April that she would sell out again within two months, so she had to restock immediately.
After starting to offer Jiggy Originals – unique hand-painted artwork on blank jigsaw puzzles – she decided to switch gears and begin offering these.
These went for up to $4,000 at auction! Her standard puzzles, which can be found on Amazon and her website, cost $40 each.
They’re 450-piece puzzles, and each one includes glue for framing your puzzle art.
Kaylin has validated the Jiggy concept; now, she wants a Shark to invest in her business.
What Is Jiggy Puzzles?
Jiggy Puzzles is a firm that sells puzzles with one-of-a-kind, artistically designed artwork.
Jiggy Puzzles are a brand-new, patent-pending puzzle that includes a jigsaw puzzle as well as a picture of your favorite animal.
The designs are executed by female artists, who receive a percentage of the sales proceeds from their creations.
To win the game, you must locate the corresponding pairs in both images and solve both problems.
Jiggy Puzzles are packaged in a reusable glass container made in an environmentally friendly factory.
|Company Name||Jiggy Puzzles|
|Product||Jigsaw Puzzles Created By Female Artists|
|Investment Asking For||$500,000 For 5% stake in Jiggy Puzzles|
|Final Deal||$500,000 For 15% stake in Jiggy Puzzles|
|Episode||Season 12 Episode 22|
|Business Status||In Business|
Who Is The Founder Of Jiggy Puzzles?
Kaylin Marcotte founded JIGGY puzzles in 2015. Kaylin worked long hours at a startup, and her relaxation regimen consisted of jigsaw puzzles each evening.
When assembled, the puzzle was entertaining, but the completed product was usually very commercial and dated.
She would not display an image on a wall but rather disassemble and reassemble it.
Jiggy Puzzles Before Shark Tank
JIGGY was the concept behind puzzles designed to be displayed and even framed as artwork.
Emerging female artists design each JIGGY puzzle worldwide, and a portion of the proceeds are donated to each artist directly.
As a start, Kaylin contacted female artists in the New York area and solicited their designs for her puzzles.
This was her method of encouraging women to forge their paths in life.
After learning how popular her puzzles were, Kaylin left the company and started her firm, Jiggy Puzzles.
There’s so much more to Jiggy Puzzles than just solving puzzles. Kaylin created this company so others could experience the same calm and peace she felt every evening for years while solving puzzles.
Many young ladies have found inspiration and motivation to pursue their artistic dreams through each puzzle’s unique and inspiring artwork.
How Was The Shark Tank Pitch Of Jiggy Puzzles?
Kaylin reached out to the Shark Tank seeking an investment of $500,000 in exchange for a 5% stake in Jiggy Puzzles. She discusses both her business and social mission.
She is debt-free and posted sales of $2.25 million when the show was taped.
She requires a Shark’s assistance in managing her business’s rapid expansion.
She is flourishing due to the Covid-19 epidemic, the Sharks believe. It remains to be seen whether those sales can be sustained.
Robert and Daniel withdraw, but Kevin extends an invitation. He offers a $100,000 loan at a rate of 15% and a $400,000 loan at 10%.
Kaylin focuses her attention on Mark, who appears to be interested. She inquires about what percentage he is comfortable with, and he responds with 15%.
Daniel instructs her to pocket Mark’s money because the firm does not require cash.
Kaylin is very adamant about not giving up 15%. Kaylin asks Mark whether he will match $50,000 in philanthropic donations if the purchase is closed, to which Mark replies in the affirmative.
Final Deal: Mark Cuban Invested $500,000 for 15% equity in Jiggy Puzzles.
What Happened To Jiggy Puzzles After Shark Tank?
Mark and Jiggy Puzzles were never able to come to terms. Kaylin was adamant about retaining the stock.
According to its sales report, Jiggy Puzzles’ total revenue is projected to be $4 million by the end of 2020. As of February 2022, Jiggy Puzzles is still in business.
Jiggy Puzzles Shark Tank Update
A few weeks after her Shark Tank debut, Jiggy Puzzles has had a lot of success with its one-of-a-kind puzzles.
In addition to Sophia Bush, Lili Reinhart, Allison Williams, and Demi Lovato, she has also commissioned puzzles from several other celebrities.
Jiggy Puzzles continues to make innovative jigsaw puzzles and patterns and is now offering a membership service, Jiggy Puzzle Club.
In addition to having access to exclusive information and a private club community, members receive first access to new items and deals. Jiggy Puzzles’ revenues approached $4 million per year in 2021.
Are Jiggy Puzzles Still In Business?
The Jiggy Puzzles company is still operating in 2022, with annual revenue exceeding $4 million.
After debuting on Shark Tank, the product had been on the market for only a few weeks. The company’s hand-crafted puzzles have been flying off the shelves since then.