New York City native, Kaylin Marcotte, entered the
Shark Tank Jiggy Puzzles Update
- Entrepreneur: Kaylin Marcotte
- Business: Unique jigsaw puzzles with a social cause
- Ask: $500,000 for 5% equity
- Result: $500,000 for 15% equity
- Shark: Mark Cuban
Jiggy Puzzles is a company with a great product and an even better social cause. It’s a company that sells stress-relieving jigsaw puzzles that can be glued and displayed. However, it also supports female artists around the globe, with a portion of each sale going to whoever the artist was featured.
According to the company’s founder, Kaylin Marcotte, Jiggy Puzzles was created in November 2019. The company has blown up quickly and Kaylin expects Jiggy Puzzles to make $2.25 million by the end of 2021.
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With such a staggering number of sales in just a few years, it’s no surprise that the sharks were impressed by how well the company has done in so little time. Kaylin entered the tank looking to partner with a shark that will help her grow the company, with a potential expansion towards a subscription-based model.
One of the first to extend Kaylin an offer was Kevin O’Leary. He offered to invest $100,000 for 1% equity and an additional loan of $400,000 at 10% interest for a total of 26% equity. However, Kaylin didn’t want to give away too much equity and seemed to have her eyes set on Mark Cuban. After pitching to the Dallas Mavericks owner directly, Mark responded by offering to invest $500,000 in exchange for 15% equity, which Kaylin accepted. As part of their deal, Mark also agreed to match all non-profit donations the company had made in 2020.
As for our Jiggy Puzzles update, the company’s founder was interviewed by the lifestyle magazine, ELLE, just a few weeks after her
Jiggy Puzzles continues to sell more unique jigsaw puzzles and designs, and the company is also now offering a subscription service, Jiggy Puzzle Club. Members get new products and promotions before everyone else with exclusive content and access to a private community of other members from the club.
While Kaylin did express fear that people might not like puzzles as much in the future, we’re confident that the company will be doing even better in our next Jiggy Puzzles update.
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