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The sharks are hooked up by Tim Talley, who pitches a new lace system called uLace in season 5, episode 19.
uLace is a no-tie shoelace system that transforms traditional lace-up sneakers into easy slip-on. Made from durable, woven polyester and elasticized lycra, uLaces offer a comfortable fit without the hassle of tying.
Easy to install, they come in four sizes—Classic, Kiddos, Slims, and Shorts—ensuring a perfect match for various sneaker designs. With a 30-day satisfaction guarantee, uLaces are a favorite among consumers looking for convenience and style in their footwear.
uLace is a collection of fashionable tie-free laces for sneakers. The laces can be combined with the inserts, and the laces can be used to create fun designs. The laces are also not tied. uLace allows users to create patterns by mixing and matching a series of laces of different colors.
| Company Name | uLace |
| Entrepreneur | Tim Talley |
| Product | Tie-less shoelaces |
| Investment Asking For | $200,000 For 25% equity in uLace |
| Final Deal | $200,000 For 35% equity in uLace |
| Shark | Mark Cuban |
| Episode | Season 5 Episode 19 |
| Business Status | In Business |
| Website | uLace Website |
Who Is The Founder Of uLace?
Tim Talley is the founder of uLace. Tim Talley developed this idea while shopping for New Era caps in Japan. Shoes are the most important component of any casual ensemble, even though an outfit comprises many components.
It is common for elementary school children to own dozens of unique shoes. How would you alter your shoes’ overall color and appearance without investing much money?
Talley began working on a product immediately, beginning a two-year research and development period.
uLace allows shoelaces to be easily and quickly replaced with elastic shoelace inserts. uLace shoelace inserts create a quick and easy way to replace regular shoelaces.
Customers can choose from many different colors and patterns, ensuring they can find the perfect pair for any occasion. uLace comes in packs of one pair, typically costing between $3.99 and $4.99 per pair. These laces will work with any shoe with eyelets for passing through laces.
Several guide documents are included with each purchase, including instructions on installing the laces and lace guides to fine-tune how they feel and look around your foot.
How Was The Shark Tank Pitch Of uLace?
Tim appeared on Shark Tank requesting an investment of $200,000 to exchange 25% in uLace.
Kevin O’Leary presented a proposal of $200,000 for 50% of uLace.
Tim counters with a 35% offer in uLace. Mark Cuban intervenes with the same deal before O’Leary can respond.
Tim accepts, and the Shark Tank concludes with a deal with Mark Cuban.
Tim left the Shark Tank stage with a deal from Mark Cuban in uLace.
Final Deal: Mark Cuban agreed to invest $200,000 For a 35% stake in uLace.
What Happened To uLace After Shark Tank?
Since its appearance on Shark Tank, uLace has grown and evolved as a product. Mark Cuban’s investment in uLace was first featured on Shark Tank during the season 6 premiere of season 5, less than six months after it appeared for the first time in season 5.
Target announced the arrival of uLace on their superstores’ shelves nationwide in an update. You’ll notice on the uLace website that they have expanded their product line to include U-Locks Words and U-Locks Monos, which are steel lace locks custom-made to fit laces.
uLace’s FAQ page mentions that they planned to launch uLace Performance in May 2016, a specialized version meant for use in more high-tech and competitive settings.
It can be used for competitive reasons, but it is not designed to give you an edge, focusing on style over substance instead. Tim Talley was described as the real thing by Daymond John on Shark Tank. Initially, it appears that this was a fair assessment.
uLace has continued to expand its product line since it was featured on the Shark Tank show. The latest addition to the product line is U-Locks Words.
Two pairs of uLace are given a kick by slip-on words, such as “I Love You,” ” I Love You, “and ” I Love You. ” Like the laces, the words in the package can be mixed and matched with other words.
uLace can be purchased from the company’s website and Amazon. It sells elasticized shoelaces that can be used to secure footwear to your feet quickly.
But what appeals to buyers is that they can create custom designs with an endless number of colors and patterns. Just push the lace through the eyelet and pull the rope to lock it. That’s it.
Just pull the lace tightly to secure it in place – it is that easy. That makes them practical for getting through airport security, for special needs individuals, for doctors and nurses to get from nap rooms to their stations, and for skateboarders tired of fixing broken laces.
Mark Cuban sealed the deal and brought uLace to the world of children’s sneakers. Target continues to sell uLace admirably in its locations. U-Locks Mono is a steel-lace lock made to fit lace ends. They were launched in late 2015.
The uLace Performance was introduced in 2016, and it is designed for use in competitive athletics.
Additionally, they sell basketball nets. It appears that uLace is here to stay, based on all of its innovation and strong sales. uLace is still in business, with an annual revenue of $5 million.
uLace has continued building its product line since its appearance on Shark Tank. U-Locks Words is the most recent addition. There are Platinum words such as “I Love,” “Kicks,” “snkr,” and “head” on uLace, adding a kick to the laces.
It’s possible to mix and match the words, just like the laces. uLace is available for purchase on the company’s website and on Amazon. The valuation of uLace was $571,000 when it appeared on Shark Tank. The current net worth of uLace is estimated to be $10 million.
