Lovepop is a novel greeting card company that gained prominence after its founders, Wombi Rose, and John Wise, presented their unique concept on season 7 of the popular business-based reality television show Shark Tank.
Unlike traditional greeting cards, Lovepop cards are meticulously crafted using a paper art technique known as kirigami, similar to origami but involving folding and cutting. The result is a three-dimensional pop-up card that reveals a stunning, intricate design.
Each Lovepop card is a small feat of paper engineering, designed with advanced software before being laser cut and hand-assembled. The range of available designs is extensive, catering to many occasions, including birthdays, weddings, anniversaries, and holidays.
Furthermore, Lovepop offers custom designs, enabling customers to create personal and memorable keepsakes. Lovepop’s innovative approach to the traditional greeting card offers several unique advantages.
These cards serve their basic function of conveying a message and provide an element of surprise with their pop-up design, which invariably delights recipients.
Furthermore, their intricate detailing and craftsmanship make them more than just cards – they are beautiful art pieces. This dual functionality makes them keepsakes that recipients often choose to display or cherish rather than discard after reading.
For these reasons, Lovepop cards are an excellent choice for anyone seeking a unique, memorable, and impactful way to express their sentiments.
|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|
|Lovepop Episode||Season 7, Episode 11|
|Lovepop Business Status||In Business|
|Lovepop Website||Visit Website|
|Lovepop Net Worth||$100 Million (As of 2023)|
What Is Lovepop?
Lovepop is a unique and innovative company that creates stunning three-dimensional pop-up greeting cards. Their cards are an imaginative blend of art, engineering, and design, meticulously handcrafted to create an awe-inspiring experience for the recipient.
Love pop cards bring joy to any occasion, whether birthdays, weddings, holidays, or just an everyday gesture of love and appreciation. Here are some key features that set Lovepop apart:
- Intricate Paper Engineering: Lovepop cards are crafted with intricate paper engineering, using cutting-edge technology to create beautiful, intricate pop-up designs. The cards feature impressive detail and precision, making them truly special and memorable.
- Unique and Diverse Designs: Lovepop offers designs to suit every taste and occasion, from whimsical motifs to elegant floral patterns. Whether you’re looking for a cute animal-themed card or an intricate architectural masterpiece, Lovepop has an extensive collection.
- Quality Craftsmanship: Each Lovepop card is carefully handmade by skilled artisans, ensuring exceptional quality and attention to detail. Using high-quality materials and fine craftsmanship guarantees that these cards are visually stunning and built to last.
- Personalization Options: Lovepop lets you personalize your card with your message, making it even more heartfelt and meaningful. The ability to add a personal touch allows you to create a truly unique and one-of-a-kind card.
With their exceptional artistry, Lovepop Cards has earned a reputation for being a delightful and cherished gift. Whether you’re looking to surprise a loved one or make a lasting impression, Lovepop cards are guaranteed to bring a smile to anyone’s face.
Who Is The Founder Of Lovepop?
Lovepop was co-founded by Wombi Rose and John Wise, two naval architecture graduates from Webb Institute. Rose and Wise also studied design and manufacturing at the Massachusetts Institute of Technology (MIT).
Lovepop’s exposure to ship design and a deep understanding of complex 3D structures would later influence the conception of Lovepop.
The idea for Lovepop came to Rose and Wise during a Harvard Business School trip to Vietnam, where they discovered the ancient art form of kirigami, a variant of origami that includes paper cutting and folding.
Intrigued by the complex, 3D structures that could be created with simple paper cuts, the duo realized that this technique could revolutionize the greeting card industry by making cards more engaging and memorable.
Before their appearance on Shark Tank, Lovepop was primarily a start-up that operated out of the Harvard Innovation Lab. Rose and Wise struggled to scale their business due to their cards’ intricate and labor-intensive nature.
However, their innovative concept and the craftsmanship that went into each card gradually helped them build a loyal customer base.
The pair aimed not just to create cards but to enable unique human connections, making Lovepop cards not just a product but a memorable experience.
Their business was growing steadily, but their appearance on Shark Tank greatly boosted their exposure and success.
How Was The Shark Tank Pitch Of Lovepop?
The Shark Tank pitch of Lovepop was quite the spectacle, reflecting the innovative and artistic nature of the business itself. Founders John Wise and Wombi Rose strategically presented their unique pop-up greeting cards to the Sharks.
The duo was seeking an investment of $300,000 in exchange for 10% equity in their business, which at the time was primarily focused on selling these intricate cards through kiosks around Boston while simultaneously driving traffic to their website.
The founders showcased their product by handing out specially crafted cards tailored to each Shark, including a basketball card for Mark Cuban and a car-based design for Robert Herjavec.
This personalized approach effectively displayed their product’s versatility and ability to cater to various interests and occasions.
However, the reception from the Sharks was mixed. Barbara Corcoran appreciated the charm of the pop-up cards but believed it was not a novel concept and decided to step back.
Lori Greiner was impressed but had reservations regarding the valuation of the company. Mark Cuban had concerns about the potentially high cost of mall rentals and felt their business focus was too broad, which led him to withdraw his interest.
On the other hand, Robert Herjavec and Kevin O’Leary saw the potential in Lovepop’s business model.
Herjavec initially offered $300,000 for 20% equity but then reduced his equity demand to 15%, arguing that the founders needed to concentrate on retail expansion. O’Leary also saw the potential and decided to match Herjavec’s offer.
After some deliberation, Wise and Rose accepted O’Leary’s deal, partially influenced by the fact that O’Leary was based in Boston, like their own business. Thus, Lovepop secured an investment of $300,000 for 15% equity from Kevin O’Leary.
According to the update, this significant investment from a prominent investor played a crucial role in Lovepop’s rapid growth and tremendous success, reaching a staggering $150 million yearly sales by 2022.
Final Deal: Lovepop secured an investment of $300,000 in exchange for a 15% equity from Kevin O’Leary.
What Happened To Lovepop After Shark Tank?
Lovepop experienced substantial growth and success after its appearance on Shark Tank. The show’s exposure, investment, and Kevin O’Leary’s business guidance propelled Lovepop to new heights.
The business started expanding rapidly, reporting $150 million yearly sales by 2022. They utilized their manufacturing capabilities to produce face coverings during the pandemic, reflecting their adaptability and commitment to social responsibility.
After the pandemic, Lovepop opened six new physical stores in Boston, Florida, and California, signifying their success in retail expansion, one of their original goals while pitching on Shark Tank.
A significant development post-Shark Tank was the introduction of some exclusive Disney-based collections, showcasing their products’ wide appeal and versatility. This partnership with Disney likely helped to elevate the brand’s recognition and reach even further.
Lovepop’s business continued to thrive online, with its entire card collection on its website and several designs listed on Amazon. Their successful physical and online sales platform integration demonstrates their savvy business model and customer accessibility.
Lovepop’s journey after Shark Tank can be seen as a remarkable success story, illustrating the power of innovative ideas coupled with strategic business decisions.
Lovepop Shark Tank Update
Lovepop, a company featured on ABC’s “Shark Tank,” has experienced significant success and growth since its appearance on the show. After presenting their unique origami-like pop-up greeting cards to the Sharks, Lovepop received an investment of over $300,000 from Robert Herjavec for 15% equity in the business.
Following their appearance on “Shark Tank,” Lovepop expanded its product line and attracted additional investors. By 2019, they had raised at least $22.5 million in funding. The company’s annual revenue surpassed $150 million by mid-2022.
Lovepop’s products can be found on their website, in physical stores, and on Amazon. They have even introduced pop-culture options like “Harry Potter” and “Star Wars” designs to their selection.
Lovepop has also made notable strides in terms of business expansion. They opened new physical stores and secured licensing agreements for exclusive Disney-based collections. The company’s success has been recognized as one of the biggest in “Shark Tank” history.
In 2023, Lovepop raised over $5 million in new funding, including converting outstanding convertible securities and new capital investment. The company plans to raise an additional $10.6 million to enhance its offerings, focusing on the direct-to-consumer experience, retail stores, corporate sales partnerships, and expanding product options.
Lovepop aims to create meaningful moments and build a consumer destination for unique cards and gifts. Lovepop’s vision revolves around providing a personal, tangible, and unexpected customer experience.
Leveraging their precision engineering and business backgrounds, Lovepop aims to disrupt the industry by redefining card expectations. They plan to offer larger-than-life cards and a seamless customization experience. Their objective is to create a lasting impression and deliver magical experiences to customers.
Overall, Lovepop’s journey after “Shark Tank” has been characterized by remarkable success, steady growth, expanded product offerings, new funding rounds, and a commitment to creating memorable experiences through its unique pop-up greeting cards and gifts.
Is Lovepop Still In Business?
Yes, Lovepop is still in business as of 2023. The company has continued to thrive and expand since its appearance on “Shark Tank.” Lovepop has raised significant funding, expanded its product line, and achieved substantial revenue growth.
They offer extensive pop-up greeting cards, including options inspired by pop culture franchises like “Harry Potter” and “Star Wars.” Lovepop’s products can be purchased on their website and through platforms like Amazon.
They also have physical stores in California, Florida, Boston, and New York City’s Hudson Yards. Lovepop aims to give customers unique and memorable experiences through handcrafted cards and gifts.
To track an order from Lovepop, customers can log into their Lovepop account or check the shipping confirmation email for tracking details. It may take 24-48 hours for tracking information to appear.
Lovepop offers optional tracking for standard shipping, and multiple items in an order may have separate tracking numbers. Lovepop has established itself as a prominent player in the greeting card industry, with continued growth, product expansion, and a strong online and retail presence.
What Is the Net Worth of LovePop?
According to our research, the net worth of Lovepop is estimated to be $100 million as of 2023. The valuation of Lovepop was $2 million after securing an investment from Kevin O’Leary on Shark Tank.
Also, read other businesses that appeared on Season 7 of Shark Tank: