DigiWrap Custom Tissue Paper Update | Shark Tank Season 8

Brad Boskovic realized there was a gap in the market for fast, personalized gift-wrapping when his family’s printing business received a last-minute custom tissue paper order. This sparked the idea for DigiWrap. He and his co-founder, Charlie Williams, aim to provide custom-printed tissue paper and gift bags for any occasion. Can DigiWrap tie up a deal with the sharks, or will their hopes be shredded? Let’s take a look at our DigiWrap update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to DigiWrap after Shark Tank.

Brad and Charlie entered Shark Tank Season 8, seeking $150,000 for 10% equity in DigiWrap. After their pitch, they reached an agreement with Kevin O’Leary for $150,000 for 20% equity and a $0.10 royalty per bag and $0.05 royalty per tissue until Kevin makes $450,000.

In terms of a DigiWrap update, despite the deal with Kevin falling through, the company managed to grow to around $3 million in annual revenue!

Shark	Result
Kevin O’Leary	Accepted offer of  $150,000 for 20% and a $0.10 royalty per bag and $0.05 royalty per tissue until Kevin makes $450,000
Barbara Corcoran	No offer
Daymond John	No offer
Kevin Harrington	No offer
Robert Herjavec	No offer

Shark Tank DigiWrap Pitch

• Entrepreneurs: Charlie Williams and Brad Boskovic
• Business: Customizable, digitally-printed tissue paper
• Ask: $150,000 for 10%
• Result: $150,000 for 20% and a $0.10 royalty per bag and $0.05 royalty per tissue until Kevin makes $450,000
• Shark: Kevin O’Leary

Brad and Charlie entered Shark Tank seeking an investment to expand their digital printing technology and meet the growing demand for their custom gift bags and tissue paper.

They were confident that with the sharks’ backing and expertise, they could scale their production and cement their position as pioneers in the personalized gift-wrap industry.

DigiWrap operates on a made-to-order, direct-to-consumer basis.

Customers can design their own gift bags and tissue paper through the company’s website, selecting the paper size and quality while uploading personalized artwork.

Thanks to its patented digital printing process, DigiWrap can handle small orders without minimum quantity requirements. 

This flexibility appeals to individuals, event planners, and businesses alike.

What sets DigiWrap apart is its ability to offer personalized gift bags in small quantities using advanced printing technology.

This allows customers complete control over the design process.

When Brad and Charlie pitched their business, they had already worked with big names like Google, Yahoo, and Disney, which impressed the sharks.

They also projected $500,000 in sales for the year, which further grabbed the sharks’ attention.

To showcase their product, they handed out custom gift bags featuring the sharks’ faces, demonstrating the personalized touch that DigiWrap brings to gift wrapping.

Robert Herjavec acknowledged that he had seen custom gift bags before, but Brad explained that no one else could handle small, personalized orders the way DigiWrap does.

Charlie added that they also work with Zazzle for wholesale distribution and are the only company offering custom tissue paper protected by their patented process.

They shared that the previous year, they earned $350,000 in sales and were on track to hit $500,000.

The cost of producing each sheet of tissue paper is just $0.50 cents, while the consumer price is around $1.00.

Despite the impressive pitch, some of the sharks had concerns.

Robert liked the product but felt the business would be hard to scale, so he opted out.

Mark Cuban shared similar concerns and also passed.

Barbara Corcoran wasn’t convinced the market for the product was big enough.

Lori Greiner doubted people would spend much on packaging that gets thrown away, so they both declined to invest.

However, Kevin O’Leary saw potential and offered $150,000 for 50% equity.

The entrepreneurs countered with 25% equity and suggested a royalty structure.

After some negotiation, they made a deal with Kevin for $150,000 in exchange for 20% equity.

Additionally, Kevin would receive a $0.05 royalty per tissue sheet and $0.10 per bag until he recoups $450,000.

Let’s get a DigiWrap update to see how the partnership with Kevin played out.

Shark Tank DigiWrap Update

Our DigiWrap update found that the deal with Kevin O’Leary ultimately fell through due to differing business visions.

In September 2017, Brad and Charlie were invited to speak at Downers Grove North High School.

They shared their entrepreneurial journey and Shark Tank experience with students in an Entrepreneurship course.

This moment was a significant step in their journey, highlighting their growing influence. It also reflected their commitment to inspiring the next generation of business leaders.

At the time of writing our DigiWrap update, the company has grown its annual revenue to around $3 million.

The company remains focused on its core products: custom tissue paper and gift bags.

These items cater to a range of events, from weddings and baby showers to corporate branding needs.

Furthermore, you can find all of their personalized wrapping options on the DigiWrap website.

Even without a Shark Tank deal, the company found its footing, so we’re calling this DigiWrap update a success.

Before you go, make sure to take a look at more company updates from Shark Tank Season 8 Episode 11:

• Sealed by Santa Update
• PolyGlide Update
• Hand Out Gloves Update

Before you go, check out our Shark Tank Season 8 page for more updates.