The Woobles Shark Tank Update | The Woobles Net Worth

The Woobles is a product featured on episode 2 of season 14 of Shark Tank. It is designed to make crochet accessible and easy to learn for people of all ages.

The Woobles is a comprehensive guide to crocheting small figures created by Adrian Zhang and Justine Tiu. You’ll find everything you need in each kit, like balls of yarn, a 4mm crochet hook, stuffing, yarn needles, accessories for decorating the figures, and a complete instructional video.

Its simplicity characterizes the Woobles. Justine, one of the founders, realized that anyone with a straightforward process could master crochet.

The product aims to teach people the art of crochet while making it a fun activity. With clear instructions and all the necessary materials provided in each kit, beginners can easily create their crochet figures.

The Woobles offers a variety of packs in different colors, each allowing users to make a specific figure. Additionally, bundles are available for those interested in creating multiple crochet figures simultaneously.

The company also releases limited edition Woobles occasionally to add excitement and collectability to the product line.

The affordability and accessibility of The Woobles make it a great choice for beginners and experienced crafters alike. 

With prices ranging from $25 to $30 for a single kit and up to a hundred dollars for bundles, customers have options depending on their preferences and budget.

The success of The Woobles is evident from its skyrocketing sales, with Adrian and Justine making over $5 million within two years of launching the product.

The Woobles is a user-friendly crochet kit that provides everything needed to create small crochet figures. Its simplicity, comprehensive instructions, and various options make it an excellent choice for anyone interested in learning or practicing crochet.

Whether you’re a beginner or an experienced crafter, The Woobles offers a fun and accessible way to explore the art of crochet.

Company NameThe Woobles
FounderJustine Tiu & Adrian (Xinli) Zhang
ProductCrochet kits that teach how to make handmade crocheted items
Investment Seeking$250,000 for a 5% equity
Final Deal Accepted$450,000 for a 6% equity
EpisodeSeason 14, Episode 2
Business StatusIn Business
WebsiteThe Woobles Website
Net Worth$10 million

What Is The Woobles?

The Woobles is a company offering crochet kits for beginners, featuring various adorable designs like penguins, foxes, and rabbits. Their kits have clear instructions, pre-started crochet pieces, and step-by-step video tutorials to help beginners learn and enjoy crocheting.

The Woobles Shark Tank Update | The Woobles Net Worth

The Woobles aims to make crocheting easy and fun for everyone, providing all the necessary materials and guidance to start this creative hobby.

The Woobles is a crochet kits business that teaches beginners how to make handmade gifts using crochet. They offer different crochet kits, including beginner, intermediate, and limited edition packs, with all the necessary materials and step-by-step video instructions.

Who Is The Founder Of The Woobles?

The founders of The Woobles are Justine Tiu and Adrian (Xinli) Zhang. Justine Tiu, who studied B.S.E. in Electrical and Computer Engineering at Duke University, started the business in July 2020.

She was passionate about making handmade gifts and wanted to create cute penguins using crochet but lacked the necessary knowledge.

Through her research, she realized that many others faced the same issue, which inspired her to start The Woobles.

Adrian Zhang completed his Bachelor of Science in Biomedical Engineering and Economics at Duke University and joined the business full-time in September 2022.

Before appearing on Shark Tank, The Woobles experienced significant growth. They sold over 150,000 crochet kits and taught crochet to more than 100,000 consumers.

Their products were available on platforms like Amazon, Real Canadian Superstores, and Etsy. The company received media coverage from publications such as USA Today, Business Journal, BuzzFeed, and Modern Retail.

Justine and Adrian participated in Shark Tank, seeking funding and expert guidance to expand their business further.

How Was The Shark Tank Pitch Of The Woobles?

The founders of The Woobles, Adrian Zhang and Justine Tiu, appeared on Season 14 Episode 2 of Shark Tank. They pitched their business, which offers crochet kits for kids, and were seeking a $250,000 investment in exchange for 5% equity.

During their presentation, Adrian and Justine explained the contents of their kits, which included crochet hooks, stuffing, yarn needles, and step-by-step instructional videos.

The Woobles Shark Tank Update | The Woobles Net Worth

They emphasized that their kits catered to beginners, novices, and intermediate users. The sharks were impressed that the business had started with only a couple of hundred dollars and had grown to a net worth of over five million dollars.

All of the sharks expressed interest in The Woobles, and after negotiations, Lori Greiner and Mark Cuban made an offer of $450,000 for 6% equity.

Adrian and Justine accepted this offer, securing a deal with both sharks.

Here is a table summarizing the Shark’s Name, Investment Offered, Counter Offer by Founders, and the Final Deal Accepted:

SharkInvestment OfferedCounter Offer by FoundersFinal Deal Accepted
Lori Greiner$450,000Accepted
Mark Cuban$450,000Accepted

The Woobles had a successful pitch on Shark Tank, receiving a higher investment amount and equity percentage than they initially sought.

The partnership with Lori Greiner and Mark Cuban is expected to provide a marketing boost for the business, and they continue to expand their crochet kits and guides to new locations.

Did The Woobles Get a Deal on Shark Tank?

Yes, The Woobles did get a deal on Shark Tank. The founders, Justine Tiu and Adrian Zhang pitched their crochet kits business to the sharks and received offers from multiple sharks. 

Mark Cuban and Lori Greiner invested $450,000 for a 6% equity stake in the company.

The Woobles’ unique crochet kits, which teach beginners how to make handmade crocheted items, impressed the sharks, and the company’s impressive sales track record of $5.3 million in just two years further convinced them to invest.

Since appearing on Shark Tank, The Woobles has continued to grow and expand its business, with plans to reach a sales target of $7 million.

They have also expanded their presence in retail and online stores across the United States and have launched a new book called “Crochet Amigurumi for Every Occasion.” Overall, The Woobles’ success on Shark Tank has helped propel their business forward.

What Happened To The Woobles After Shark Tank?

After appearing on Shark Tank, The Woobles, a crochet education company founded by Justine Tiu and Adrian Zhang, experienced significant growth and success.

Although they initially accepted a deal with Lori Grenier and Mark Cuban, they decided not to proceed with the partnership. Despite this, The Woobles continued to thrive and expand their business.

They achieved impressive sales through their direct-to-consumer model, with kits priced at $30 retail and only $3. The company earned $5.3 million when it appeared on Shark Tank, projecting sales of $7 million by the end of 2022.

The Woobles attracted attention for their high margins, predominantly adult customer base, and efficient advertising strategy.

Following their Shark Tank appearance, The Woobles celebrated by selling a limited edition crochet kit featuring a shark named Tank, which sold out quickly.

They also released a book titled “Crochet Amigurumi for Every Occasion,” which became a bestseller in Amazon’s Toy-making book section.

The Woobles Shark Tank Update | The Woobles Net Worth

Despite not accepting the deal with Grenier and Cuban, The Woobles thrived. Their products became available in major retail outlets such as Michaels, Joann Fabrics, Walmart, Blick, and Amazon.

Through licensing opportunities, they also collaborated with well-known brands like Pac-Man, Miffy, and BT21’s Universtar characters.

The Woobles maintained a strong online presence with a growing social media following across platforms like Instagram, Facebook, TikTok, YouTube, and Pinterest. Their content included street interviews and interactions with newcomers to their brand.

The company even had a billboard in Times Square, and co-founder Justine Tiu was recognized on Inc.’s Female Founders 200 list in 2023.

Looking ahead, The Woobles’ mission focuses on expanding their education efforts beyond crochet to other skills. While they are happy teaching crochet techniques, their ultimate goal is to spread positivity and help people learn new things. The direction of their future endeavors will depend on user research.

Additionally, Tiu and Zhang announced they were expecting a baby Wooble in August, suggesting they may take some time off to attend to their newborn.

In summary, The Woobles experienced significant growth and success after appearing on Shark Tank. Despite not accepting the deal offered by Lori Grenier and Mark Cuban, they expanded their retail reach, collaborated with popular brands, and continued to educate and inspire people through their crochet kits and other ventures.

The Woobles Shark Tank Update

After appearing on Shark Tank, The Woobles, a crochet kits business, garnered significant interest from the sharks. Justine Tiu and Adrian Zhang, the founders, entered the tank seeking $250,000 for a 5% equity stake at a $5 million valuation.

They pitched their business idea, highlighting their success in teaching crochet to over 100,000 consumers and selling 150,000 crochet kits. The sharks were impressed by their $5.3 million worth in just two years.

Ultimately, Mark Cuban and Lori Greiner made a joint offer of $450,000 for a 6% equity stake, valuing the company at $7 million.

Justine and Adrian accepted this deal. The Woobles experienced a surge in orders immediately after the episode aired, with their entire family pitching in to fulfill them.

The Woobles is still in business and continues to thrive. They have expanded their business internationally and secured partnerships with retail and online stores across the United States and Canada.

Justine has also released a book called “Crochet Amigurumi for Every Occasion” on Amazon. The company’s net worth is estimated at $7.5 million and remains operational.

Is The Woobles Still In Business?

Yes, The Woobles is still in business. Started in July 2020, this crochet company has experienced remarkable success and growth. The founders, Justine Tiu and Adrian Zhang appeared on season 14 of Shark Tank and secured a deal with Mark Cuban and Lori Greiner. The company has a current valuation of $7.5 million.

With their adorable crochet animal kits, The Woobles quickly gained popularity and reached $1 million in sales in under a year. They have continued to thrive, generating $5.3 million in lifetime sales in September 2022.

The Woobles Shark Tank Update | The Woobles Net Worth

Despite a reported disagreement with Mark Cuban after their Shark Tank appearance, The Woobles remains strong and focused on expansion.

They have secured a manufacturing deal with a Chinese company to scale production and improve margins. Their products can be purchased on their website and platforms like Amazon and Etsy.

The company has received positive reviews, with an average rating of 5 stars from over 1,500 Etsy users. The Woobles is working towards expanding internationally and getting their products into large retail stores such as Target and Joanne.

With their strong growth trajectory, The Woobles will continue to thrive and potentially surpass $10 million in sales.

What Is the Net Worth Of The Woobles?

According to our research, The Woobles’ net worth is estimated at $10 million. The valuation of The Woobles was $7.5 million after securing an investment from Mark Cuban and Lori Greiner on Shark Tank.

Also, read about other businesses that appeared on episode 02 of season 14 of Shark Tank: