they didnt even want to make a deal with anyone, once they aired they backed away from the agreement and didnt close the deal. just another publicity stunt
These are already going viral on social media platforms. I never wanted to learn to crochet until I saw one in real play. Congratulations to both of them.
Im doing one now as a gift for my girlfriend & to learn a new skill, I highly recommend it, it's actually super satisfying and relaxing, something I needed to get away from being on screens all day
Listen. Their product works. It has been years and years since I have crocheted and I saw the BT21 collab with the Woobles and I was immediately sold. I basically had to teach myself how to crochet all over again but the videos were incredibly helpful and I love how my little bt21 Woobles turned out. I am now back into crocheting and have even joined a crochet club where I get a new kit every month. So huge props to Justine and Adrian for what they have accomplished!
There are a lot of great tutorials on RU-vid for free, teaching you how to crochet. What I don’t like about the product is the designs were created by others online and these folks are selling them as if they are their own designs. This is not a unique product. Plus they backed out of the deal with the sharks but they still use Shark Tank as a sales pitch.
@@Catg1222 I've looked at these kits and they're really cute, but they are so overpriced. When you hear them say they make the kits for $3, wholesale for $15 and retail for $30? Heck no. Totally overpriced. I looked at a Woodstock kit (so licensed character) and it was $50. There's no way an unmade crochet stuffed animal the size of your fist is worth $50. I think that if a consumer takes advantage of their videos to learn, they're going to quickly realize they can get cheaper patterns, kits and materials.
@@jenniferpearce1052 beginners often don't know about alternatives. I wonder how quickly someone will stop buying once they get some familiarity with crocheting.
Their pitch was nearly flawless. Not to mention they were sincere in their motives. Which is why they were able to get every shark to come in on an offer.
@@Shitsngigz yes and that is why it is a universally accepted fact that looks can be deceptive, these guys looked all innocent but were just there for free promo.
This is the best episode I ever seen. The business partners did not mark up their valuation and come across sincere and so real. Sharks has no doubts at all amazing! 5.3mil within 2 years 😮
I love how no matter how shrewd Mr. Wonderful can be, he always respectfully allows the entrepreneurs hear out other offers. And it’s extremely rare for him to be salty about not getting a deal
Not always, sometimes he’ll say “I already gave you an offer why are you talking to them” and I’ve seen him go out for that reason, he sometimes does marks “take it right now or I’m out” as well
Literally crocheting a turtle from a Woobles kit as I watched this. Good for them! Their kits are great and they clearly are off to a great start as a business.
They walked out with a better deal by 50% more than what they asked for. This is the power of a successful business that all sharks were fighting to get onboard.
Love this episode!! For Christmas, I bought everyone I know a wooble. Not only did I get to see their faces light up when they opened their gift, I’ve enjoyed the pics of my friends and family of their completed woobles.
Very clever of the guy to say would you like to add another shark in your offer instead of saying we would like to hear someone else’s offer. It’s a smarter, roundabout way of hearing someone else’s offer while not ostracizing the current shark and having them drop out. So many times the entrepreneur asks in the wrong way and the sharks drop out Edit - I realized it was also very clever to come in to the shark tank with such a low valuation, compared to other entrepreneurs coming in with high valuations and hoping to get it. This allowed the sharks to bid themselves higher on their own and possibly get a better valuation, and you really say them do that here. These two are the real deal
I work in a yarn store in Mall of America and we sell so many of these, I wish this was available when I was learning to crochet. Imo, crafting is such a help for mental health.❤❤
Mark and Lori is the perfect combo for any business. Unfortunately i think this deal is tailor-made for Barbara and she made every effort to get the deal. I think anytime Mark and Lori gets together, the other sharks should form a 3shark team and outbid them
I wish they were more affordable, considering those margins, but well, supply and demand. Ppl seem to find them amazing for learning! Also, yes, their pitch was great. But they also had awesome data to reference. Their own backgrounds, they're margins and sales data, that's what got the sharks biting. Plus, maybe even some brand recognition
The most jaw dropping episode I've ever watched! Seriously my favorite so far ever. Every second of it from start I was already sold then to finish I was in shock amazement and awe! Well done 👍 It was like watching a short film. There was a beginning, a build up, climax, and plot twist and then shocking ending that was in favor of the protagonist.
I like this because Adrian Zang and Justine Tiu had a strong idea of who they wanted on their team. All the Sharks gave good offers that were workable. The team they picked matched well wit their funding request and the backgrounds of the Sharks they chose. Well done!!!!!
Apparently the deal never actually got closed. Lori and Mark backed out of it when the cameras were off. They’re still very successful and I have so many of their kits!
Mannnn imagine having a business where the sharks are fighting to have it!!!! Great position to be in, great product! Best of luck to them! I will be purchasing this product in the future
Most ppl asking $250k for 5% get the immediate eyeroll from the sharks. Here, the sharks end up paying a decent amount over that, which is really rare. Dang, really well done
Here’s the update: But after the cameras stopped rolling, the deal failed to close. In an email, Cuban confirmed the news, saying it was “their choice.” “We wanted to close the deal,” Cuban said. “I think once they aired, they got what they wanted from Shark Tank.” Tiu declined to comment on the situation. A company spokeswoman said The Woobles would not be “discussing the status of the deal at this time, but want to share that the team’s experience with Shark Tank, and all of the Sharks, has been supportive and fantastic.” Tiu did say last week that orders were going strong and that the firm was busy preparing for Black Friday.
I think all the sharks are executive producers and they have a saying If or when a pitch is air, if a shark want to close a deal or keep people who seek for advertisement out, they can just close the deal before is aired and if the owners don't want to then just don't air that pitch.
@@MetteC5Damn unless I just can’t see my reply lmao I think yt already deleted it. Anyway, I had said there are tons of articles about this if you just search woobles shark tank update. I copy and pasted this straight from the one I read, bizjournals. I can’t put the end of the website or yt will delete I think but yk, it’s the regular one, .c_ _
Highly suspicious when they came in saying they needed help with licensing. In other episodes, Kevin mentioned whenever people come in asking about licensing it’s a BS pitch, because licensing another brand’s IP is super easy, especially from Disney. They do licensing ALL the time and have entire divisions dedicated to it and priced out. You literally can just ask. I wonder why they didn’t call it out this time. Maybe they were too blinded by the sales numbers and their backgrounds.
Where woobles really have a lot of value is in therapeutic settings. Mental health & substance use, occupational therapy, and even some vision therapy utilize woobles to allow patients to learn how to build self-esteem, fine motor movements, building and reaching a goal, and so much more. I don't think they fully grasp the full potential of their product yet and that's the amazing part
I just want to say that I've ordered from woobles for a friend looking to get back into crochet. My order was messed up, but their customer service is top-notch. I do recommend them to anyone. I do know how to crochet myself, and I knit as well. I will update my comment when I hear how my friend's crochet goes.
God the fact that the sharks let them negotiate more and discuss after those very good offers shows just how much they believe in the business. They were right too
My bf bought me a ton of Woobles, I can't recommend them enough! It taught me the most important basic/intermediate stitches and skills, including how to read patterns. It's funny because i recognize her voice easily from the Woobles training videos
They got a deal above their ask, and they didn't close the deal. Did their homework did a lot of prep work for different scenarios, gave textbook 'perfect' answers in a subtly humble way. Feel like they were going for the publicity more than anything...
