The season 7 finale of Shark Tank featured Tomer Alpert, who pitched Felt, a smartphone application that allows you to send a handwritten card from your smartphone.
What Is Felt App?
Felt App is a mobile application for creating and mailing handwritten cards in an increasingly digital world.
Feel allows you to customize the experience of your loved ones completely. You can choose any square image from your smartphone, launch the app and select your template.
You can then write your message with your finger. If you’re worried about messy finger writing, we’ve got you covered.
Felt App comes with an easy-to-use toolkit that lets you write beautifully in your calligraphy, including guidelines, an eraser, undo/redo buttons, and scissors. Additionally, you can select from a variety of designer typefaces.
Your handcrafted card is then made by Felt App, along with a Mohawk paper envelope and a first-class stamp, and mailed within 24 hours. You can send a single square card right away if you have an iPhone.
|Company Name||Felt App|
|Product||App to send a handwritten note or card|
|Investment Asking For||$200,000 For 6% equity in Felt App|
|Final Deal||$225,000 For 10% equity in Felt App|
|Episode||Season 7 Episode 29|
|Business Status||In Business|
Who Is The Founder Of Felt App?
Tomer Alpert is the founder of Felt App. The founder of Felt, Tomer Alpert, came up with the idea of Felt after he was unable to locate an emergency thank-you note following a party.
Alpert attempted to make it on Shark Tank twice in a row before making it to the Season 7 finale.
Would sharks bite on this new approach to greeting cards this time?
Felt App Before Shark Tank
Tomer has been involved in entrepreneurship since his elementary school days. Felt was established with a $100K investment by a nature lover in the Telluride Mountains.
Many people don’t want to purchase a greeting card that may not be personalized in a store.
A similar process led to the development of the Felt App, which lets you select a card, write a note on it using a stylus or your finger, then add the address to the card.
It will then be printed, sealed, stamped, and mailed to the recipient within a single day with the software.
How Was The Shark Tank Pitch Of Felt App?
Tomer appeared on the Sharks seeking a $200,000 investment in exchange for a 6% stake in Felt App.
Mark Cuban claims that he is trying to make things simpler for him and quits.
Barbara Corcoran has confirmed that she will no longer be participating in the deal.
Kevin O’Leary claims that Felt App has all of the company’s customers, and that he can have them for no further cost to the business. He proposes a price of $225,000 for a ten percent stock stake in Felt App.
Lori Griener gives him some positive reinforcement in the hopes that he will accept the offer from Mr. Wonderful.
Robert Herjavec believes that a large number of people are already doing this and that there is nothing exclusive about it. He is kicked out.
Barbara Corcoran, Mark Cuban, and Lori Greiner immediately advise Tomer to accept the deal. He considers their advice and O’Leary’s offer.
Final Deal: Kevin O’ Leary agreed to invest $225,000 For a 10% stake in Felt App.
What Happened To Felt App After Shark Tank?
Felt experienced a surge in membership after the Shark Tank season ended – around 10,000 at one point.
The sales of their products rose dramatically in the weeks that followed the broadcast, and their revenue skyrocketed by a factor of ten to twenty. There are 3,800 fans of their Facebook page, and they update it regularly.
It’s possible to buy individual cards or subscribe to a monthly subscription for $5, including three cards per month. It appears as though the transaction with Kevin O’Leary benefited this company tremendously.
Felt App Shark Tank Update
The firms featured in each episode are tracked after they air, regardless of whether they obtain money and their success is reported.
However, Felt has taken off despite never completing the contract with Kevin. Felt is currently available through the iTunes Store as well as online.
Felt’s App social media pages on Facebook and Twitter remain active, indicating a robust, growing business.
Felt App is still in business as of 2022, generating an annual revenue of $2 million.
Is Felt App Still In Business?
After appearing on Shark Tank, Felt launched a frame collection for Felt cards with solid wood frames.
Felt app also distributed flowers with Mother’s Day cards as part of its Mother’s Day campaign.
Felt’s website has also been recognized with a Webby Award for Best User Interface. Felt describes the award as “Academy Awards for online companies.”
The Felt app has generated a lot of curiosity, and its sales have been increasing. The company received an initial fundraising round of $220 thousand but doubled following the Shark Tank deal. Today, the company employs over 40 people in Telluride, Colorado.
They are growing since they offer handmade cards and seasonal gifts for every occasion. This has significantly swayed consumer interests.
Felt App has grown from a few hundred thousand dollars to $1.5 million by 2022. You can download the Felt app on various platforms and its website.
What Is the Net Worth of Felt App?
The valuation Felt App was $2.5 million when it appeared on Shark Tank. However, the net worth of Felt App is $2 million as of 2022.