Shark Tank Holiday episode 712 features Wombi Rose and John Wise presenting Lovepop, a 3D pop-up greeting card company.
They met in 2006 while pursuing degrees in naval architecture and marine engineering.
A graduate school assignment led them to discover paper sculptures in Vietnam, which they used to create greeting cards that they sold at fairs and craft festivals.
After witnessing people’s reactions to their cards, Rose and Wise realized they had a viable business idea.
These cards are constructed using CAD software and fold completely flat; the “sculptures” are attached with thread and rise when the card is opened.
An incredibly successful Kickstarter campaign led to over $23,000 in funding for the company.
An earlier Kickstarter campaign for creating an almost $500 Donald Trump and Deez Nuts card raised more than $800.
LovePop has received an overwhelmingly positive response from the public. Many people save the cards and use them to decorate their homes.
A typical card usually costs between $8 and $13, a little more than the typical card, but the price reflects the care taken in creating the design.
Investor interest has been strong: the company has received $2.6 million to date from 22 unnamed investors and is seeking an additional $825K.
The majority of retail inventory needs to be paid for with cash. Would there be a Shark among those investors?
What Is Lovepop?
Lovepop is a unique three-dimensional card that may be used to convey a range of emotions.
You can buy Lovepop cards for birthdays, anniversaries, holidays, or even as a treat for yourself. Lovepop offers free shipping within the United States to sweeten the deal.
Lovepop makes unique paper gifts more like artwork than greeting cards by handcrafting 3D paper sculptures.
|Entrepreneur||Wombi Rose And John Wise|
|Product||Greeting Cards with 3D Paper Popups for Any Occasion|
|Investment Asking For||$300,000 For 10% equity in Lovepop|
|Final Deal||$300,000 For 15% equity in Lovepop|
|Episode||Season 7 Episode 11|
|Business Status||In Business|
Who Is The Founder Of Lovepop?
John Wise and Wombi Rose form the dynamic duo Lovepop Company. They were both students at Harvard University majoring in ship design and naval architecture when they founded the company. They continue to serve as directors of Lovepop Company today.
John Wise and Wombi Rose both graduated from Harvard Business School and founded Lovepop, a line of 3D greeting cards. They pitched their business on Shark Tank in December 2015.
Lovepop Before Shark Tank
Lovepop was a coincidental idea. When Wombi and John were still at Harvard, they were on vacation in Vietnam and saw street sellers selling pop-up cards.
The two were interested enough to purchase 30 pop-up cards and learn about Kirigami’s art form.
They gathered feedback from their friends back in Boston regarding the pop-up cards. The pop-up cards fascinated everyone.
They realized this was a business opportunity worth exploring at that point.
Wombie and John were still students and could not finance their firm. However, they took out loans with high-interest rates because of their faith in Lovepop.
The couple did not have a workspace in which to incubate the business. The Harvard student shared office provided them with a place to stay.
The conviction in Lovepop as a spectacular find was undoubtedly rewarded by the masses of clients drawn by the company.
Lovepop had already generated nearly $300,000 in sales before going on Shark Tank.
The accomplishment was remarkable, especially considering the company was only a year old.
How Was The Shark Tank Pitch Of Lovepop?
Lovepop came about totally by chance. Wombi and John were still Harvard students when they encountered a street vendor selling pop-up cards while in Vietnam on a school trip.
They became familiar with the Japanese art style known as Kirigami due to their enthusiasm. They also purchased thirty pop-up cards.
They collected feedback on the pop-up cards from their friends once they returned to Boston. People were amazed at how beautiful they were.
They realized at that moment that this was a genuine business idea worth investigating.
When they started their company, the duo were still students and lacked the financial resources to succeed.
Lovepop, however, compelled them to take out high-interest loans.
Additionally, the pair needed an incubator place for the firm.
They could secure housing thanks to Harvard’s shared workspaces for students.
The belief in Lovepop as a fantastic discovery was surely rewarded by the company’s massive clientele.
Before appearing on Shark Tank, Lovepop had already produced over $300,000 in sales.
The achievement was amazing, especially given the company’s infancy.
Barbara finds the cards attractive, but she has seen more attractive pop-up cards. She believes they are traveling too quickly and exits.
Lori is unable to view their value; she has exited. When Kevin learns about their wedding packages, he likes the cards and believes they would be a wonderful fit for the “Something Wonderful Platform.”
Mark observes them “expanding” and believes that mall rent rises could be costly; he exits.
Robert observes their passionate customer service and service culture. He offers $300,000 in exchange for 20% equity in Lovepop.
Kevin approaches Robert about partnering with him, but Robert declines. Kevin makes a counter-offer to Robert’s.
Kevin claims that he can bring a large number of consumers after a pause.
Robert believes they should expand their retail presence and reduce his offer to 15%; Kevin instantly matches it.
Because Kevin is in Boston, they complete the transaction with him.
Final Deal: Mr. Wonderful agrees to invest $300,000 for a 15% equity in Lovepop.
What Happened To Lovepop After Shark Tank?
Lovepop has continued to thrive since it appeared on Shark Tank. Lovepop has over 300 designs available in 950 retail stores nationwide and establishes cross-promotional relationships with other brands.
The 2017 Billboard Music Awards featured paper sculptures created by Lovepop.
Lovepop signed contracts with bookshops affiliated with the American Booksellers Association in September.
Lovepop states that they are not a big box store and that local bookstores are their most loyal customers.
The holiday season is a great time to shop on Fifth Avenue in Manhattan, where you’ll find Lovepop in the windows of ultra-luxury boutique Henri Bendel.
Lovepop Shark Tank Update
After the broadcast, love Pop produced 20,000 cards per month in 100 different designs.
LovePop partnered with Keytar Bear, a bear who plays the keytar, in Boston to hand-deliver Valentine’s cards.
LovePop receives an update segment on episode 725, just three months after its debut! The outcome of this business will depend on whether “something fantastic” happens.
Lovepop repositioned itself amid the 2020 Covid-19 epidemic, as many businesses do. The company used some of its manufacturing equipment to produce face shields.
Lisa Scopa was designated the company’s new CEO in June 2021. She will work for an organization with more than 800 employees and more than $40 million in annual revenue.
Is Lovepop Still In Business?
Lovepop, the company that created these 3D pop-up cards, is still in business.
Customers can purchase various cards through the company’s website, retail locations in the United States, Europe, and Japan, foreign distributors, and Amazon.
Further, the company now offers flower bouquets, gift tags, calendars, and wristbands in addition to its existing products.
John Wise and Wombi Rose remain at the company’s helm as co-founders.
The company claims to be the creator of the original 3D pop-up cards, founded in 1977 compared to its competitors.
Lovepop’s card themes and stationery sales are aimed at many consumers. The company also sells pop-up books for children.