Retold Recycling Shark Tank Net Worth

Retold Recycling is a subscription-based service that offers a user-friendly solution to the mounting problem of textile waste. Founded by Amelia Trumble and Alan Yeoh, the company aims to minimize the environmental impact of discarded clothing by extending the lifecycle of textiles and reducing the demand for new clothing production.

The service operates by providing subscribers with biodegradable bags to fill with unwanted textiles, which are then collected directly from their homes. These items are sorted and sent to various destinations, such as thrift stores for reusable clothing or recyclers for textiles that can be reprocessed.

This approach not only reduces textile waste but also fosters a circular economy. Retold Recycling’s post-pitch progress on Shark Tank, including securing a significant investment from Mark Cuban, demonstrates their dedication to environmental stewardship and customer engagement.

With its convenient and eco-friendly features, Retold Recycling is an excellent choice for environmentally conscious consumers seeking sustainable practices in the fashion industry.

Company NameRetold Recycling
FounderAmelia Trumble and Alan Yeoh
ProductTextile recycling subscription service
Investment Seeking$300,000 for 15% equity
Final Deal Accepted$300,000 for 25% equity
Shark NameMark Cuban
EpisodeSeason 14, Episode 14
Business StatusIn Business
WebsiteVisit Website
Net Worth$1.5 million

What Is Retold Recycling?

Retold Recycling is a company that focuses on recycling and repurposing textiles. They are a member of the American Circular Textiles Group, which includes leading organizations in the circular textiles industry.

Retold Recycling aims to reduce waste by giving new life to textiles through various recycling methods. They offer products made from recycled materials and promote sustainable practices.

Retold Recycling Shark Tank Net Worth

ReTold Recycling is a mail-in recycling service for unwanted clothes and textiles. The company’s objective is to divert as much fabric as possible from landfills by building a community around their #NoLandfills initiative.

The process is simple: customers collect their fabrics, purchase a bag or sign up for a subscription, load the bag with their unwanted clothing, and deliver it to their nearest post office, mail room, or doorman. Each bag includes a pre-paid label for convenience.

ReTold collaborates with partners to filter and sort the items before distributing them to thrift stores, donation centers, recyclers, resellers, and up-cyclers. This ensures that nothing from the ReTold bag ends up in a landfill.

The company accepts annual or quarterly memberships as well as single bags with no commitment, making it suitable for families, shoppers, and anyone in need of a reminder to clear out their closet.

By purchasing a membership, customers also gain access to ReTold Rewards, which offers discounts and offers from partner products. ReTold Recycling is committed to providing a convenient and sustainable solution for textile waste

Who Is The Founder Of Retold Recycling?

The founders of Retold Recycling are Alex and Brooke Barnes. Alex Barnes has a background in environmental science and sustainability, while Brooke Barnes has experience in marketing and business development.

The idea for Retold Recycling came to them when they realized the alarming amount of textile waste being generated and the lack of convenient recycling options available to individuals.

Before appearing on Shark Tank, Retold Recycling had already established itself as a successful and innovative solution to reducing textile waste.

The company had built a strong customer base through its mail-in service, offering individuals a simple and convenient way to recycle their household textiles and clothing.

They had also formed partnerships with thrift stores, donation centers, recyclers, resellers, and up-cyclers to ensure that nothing from the Retold bags ended up in landfills.

Retold Recycling has gained recognition for its commitment to sustainability, using biodegradable and compostable bags made from cornstarch. They had already saved countless tons of clothes from ending up in landfills and had a visible impact through their online “ticker” that showcased their progress.

With their appearance on Shark Tank in Season 14, Episode 14, Retold Recycling aimed to expand their reach further and raise awareness about the importance of textile recycling.

Their approach and dedication to creating a more sustainable future made them an attractive investment opportunity for the Sharks.

How Was The Shark Tank Pitch Of Retold Recycling?

During their Shark Tank pitch, Alan Yeoh and Amelia Trumble presented Retold Recycling, a mail-in textile recycling service. They sought a $300,000 investment in exchange for 15% equity in their company.

The entrepreneurs explained that their service offered a convenient way for individuals to recycle unwanted textiles, reducing waste in landfills.

Retold Recycling Shark Tank Net Worth

Retold Recycling provided customers with postage-paid envelopes for a price of $14.50. Customers would fill the bags with approximately 5 pounds of textiles and send them back via mail. The company sorted the clothes carefully before selling them to thrift stores, upcycles, and recyclers.

Alan and Amelia shared their financial performance, stating that they generated $12,000 in sales in their first year (2020). The following year saw a significant increase to $175,000, and they projected $500,000 in sales for the year of filming.

Kevin O’Leary and guest shark Emma Grede declined to invest, with Kevin expressing doubts about the investment’s potential return and Emma seeing it less as a business opportunity.

Lori Greiner and Robert Herjavec also did not see it as a viable business and opted out.

However, Mark Cuban showed interest and made an offer of $300,000 for 25% equity. Alan and Amelia accepted his offer, securing a deal with Mark Cuban.

Shark’s NameInvestment OfferedCounter Offer by FoundersFinal Deal Accepted
Mark Cuban$300,000 for 25%N/AYes

Tthe Shark Tank pitch for Retold Recycling resulted in an investment offer of $300,000 from Mark Cuban for 25% equity, which the founders accepted.

Did Retold Recycling Get a Deal on Shark Tank?

Retold Recycling did get a deal on Shark Tank. During their pitch, co-founders Amelia Trumble and Alan Yeoh asked for $300,000 in exchange for 15% equity in their subscription-based recycling service.

Mark Cuban, one of the sharks, made an offer of $300,000 for 25% equity, which Amelia and Alan accepted. This deal was finalized on the show. It’s worth noting that the other sharks declined to invest in Retold Recycling.

Retold Recycling did secure a deal on Shark Tank with Mark Cuban for $300,000 in exchange for 25% equity.

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What Happened To Retold Recycling After Shark Tank?

After appearing on “Shark Tank” Season 14, Retold Recycling, a company founded by Amelia Trumble and Alan Yeoh, received a deal from Mark Cuban. He invested $300,000 for a 25% equity stake in the business.

This partnership allowed Retold Recycling to expand its operations and find new affiliates in Los Angeles, a key location for their audience.

Following the show, Retold Recycling experienced the “Shark Tank” effect, with increased website traffic and social media engagement.

Retold Recycling Shark Tank Net Worth

The company saw a surge in orders and emails from customers. They focused on growing their pool of retail and brand partners and continued to spread awareness about their green initiatives.

Retold Recycling is still in business and offers various options for customers to dispose of their clothes sustainably. Visitors can purchase single, three-pack, or ten-pack bags depending on the amount of clothing they want to recycle. The company also offers quarterly and annual subscription services for regular recycling habits.

In addition to its core services, Retold Recycling includes business initiatives that allow customers to purchase their bags and print labels from partnered companies’ websites. This provides exposure for Retold while presenting an environmentally-conscious image for the partner brands. Some of Retold’s current affiliates include Verizon, Hines, and Vitamin A.

Looking ahead, Retold Recycling plans to have its bags available in retail stores by the end of the year. They are also working on developing new bag products and expanding internationally in the long term. The company aims to be recognized as a leader in textile recycling and hopes to inspire more people to live sustainably.

Furthermore, Retold Recycling uses its platform to support other environmentally-conscious small businesses through its “Sustainable Store” page on its website. They recommend a range of products, encouraging individuals to integrate sustainable practices into their daily lives.

Retold Recycling has continued to thrive after appearing on Shark Tank by leveraging the exposure gained from the show and partnering with Mark Cuban.

The company’s mission to shift public perception towards sustainability remains strong as it expands its reach and offers innovative solutions for textile recycling.

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Retold Recycling Shark Tank Update

Retold Recycling experienced significant growth and success after appearing on Shark Tank. The company’s innovative subscription-based service for textile recycling caught the attention of the Sharks, particularly Mark Cuban, who invested $300,000 for a 25% equity stake.

The exposure on Shark Tank helped raise awareness of Retold Recycling and fashion sustainability, leading to increased customer engagement and community building.

The company cultivated a robust subscriber community through various media platforms, implementing a social media strategy that resonated with environmentally conscious consumers.

Retold Recycling’s post-pitch developments focused on sustainability and expansion. The company aims to minimize the environmental impact of textile waste by extending the lifecycle of textiles reducing the demand for new clothing production.

They achieve this through their convenient subscription model, where subscribers receive biodegradable bags to fill with unwanted textiles, which are then collected from their homes.

To enhance its recycling program, Retold Recycling has formed partnerships with responsible sustainability brands and local recycled textile innovators. These collaborative efforts amplify their impact and drive the concept of a circular economy in the fashion industry.

In terms of business development, Retold Recycling expanded its offerings beyond B2C (business-to-consumer) and started providing B2B (business-to-business) recycling solutions. Additionally, they began selling branding bags as part of their product line.

Retold Recycling Shark Tank Net Worth

Retold Recycling has been featured in various media publications, including Bustle, Hunker, and WWD, further enhancing its visibility and reputation.

Retold Recycling is still in business, with a team of 2-10 employees based in California, United States, with a net worth of $1.5 million.

In terms of future strategies and goals, Retold Recycling plans to sustain and expand its service. They aim to broaden their reach and change people’s perception of clothing disposal by scaling up their operations.

Additionally, they will integrate technology to streamline subscription management, making it easier for customers to manage their subscriptions online.

Retold Recycling’s appearance on Shark Tank provided not only the necessary investment for expansion but also the validation of its business model and a platform to promote its dedication to environmental stewardship.

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What Is the Net Worth Of Retold Recycling?

According to our research, the net worth of Retold Recycling is estimated to be $1.5 million. The valuation of Retold Recycling was $1.2 million after securing an investment from Mark Cuban on season 14 of Shark Tank.

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