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The sharks are hooked up by Tim Talley, who pitches a new lace system called U-Lace in episode 521, airing March 7.
U-Lace allows users to create various patterns by mixing and matching a series of laces of different colors.
What Is U-Lace?
U-Lace 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.
| Company Name | U-Lace |
| Entrepreneur | Tim Talley |
| Product | Tie-less shoelaces |
| Investment Asking For | $200,000 For 25% equity in U-Lace |
| Final Deal | $200,000 For 35% equity in U-Lace |
| Shark | Mark Cuban |
| Episode | Season 5 Episode 19 |
| Business Status | In Business |
| Website | Visit Website |
Who Is The Founder Of U-Lace?
Tim Talley is the founder of U-Lace.
U-Lace Before Shark Tank
Tim Talley came up with this idea while shopping for New Era caps in Japan. The most important component of any casual ensemble is the shoes, even though an outfit comprises many components.
It is common for elementary school children to own dozens of unique shoes. How would you like to alter your shoes’ overall color and appearance without investing a lot of money?
Talley began working on a product immediately, beginning a two-year research and development period.
U-Laces allow shoelaces to be easily and quickly replaced with elastic shoelace inserts. The U-Laces shoelace inserts create a quick and easy way to replace regular shoelaces.
There are many different colors and patterns for customers to choose from, ensuring they can find the perfect pair for any occasion.
U-Lace come 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 U-Lace?
Tim appeared on Shark Tank requesting an investment of $200,000 to exchange 25% in U-Lace.
Kevin O’Leary presented a proposal of $200,000 for 50% of U-Lace.
Tim counters with a 35% offer in U-Lace. 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 U-Lace.
Final Deal: Mark Cuban agreed to invest $200,000 For a 35% stake in U-Lace.
What Happened To U-Lace After Shark Tank?
Since its appearance on Shark Tank, u-Lace has grown and evolved as a product.
Mark Cuban’s investment in U-Lace 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 the U-Lace on the shelves of their superstores nationwide in an update.
You’ll notice on the U-Lace website that they have expanded their product line to include U-Locks Words and U-Locks Mono’s, which are steel laces locks custom made to fit laces.
U-Lace’s FAQ page mentions that they planned to launch U-Lace 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.
U-Lace Shark Tank Update
U-Lace 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 U-Laces 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.
U-Lace can be purchased from the company’s website and Amazon.
U-Lace 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 U-Lace to the world of children’s sneakers.
Target continues to sell U-Lace admirably in its locations. U-Locks Mono is a steel-lace lock made to fit lace ends. They were launched in late 2015.
The U-Lace Performance was introduced in 2016, and it is designed for use in competitive athletics.
Additionally, they sell basketball nets. It appears that U-Lace is here to stay, based on all of its innovation and strong sales.
U-Lace is still in business as of 2022, with annual revenue of $5 million.
Is U-Lace Still In Business?
U-Lace has continued to build its product line ever 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 U-Laces, adding a kick to the laces.
It’s possible to mix and match the words, just like the laces. U-Lace is available for purchase on the company’s website and on Amazon.
What Is the Net Worth Of U-Lace?
The valuation of U-Lace was $800,000 when it appeared on Shark Tank. The net worth of U-Lace is $5 million as of 2022.
