From ship architects to business school to… pop-up greeting cards? John Wise and Wombi Rose have gone on an interesting journey to create their card company, Lovepop. Now, they use ship-designing software to produce their layered cards. What will the sharks think of their cards when they bring them to
Shark Tank Lovepop Update
- Entrepreneur: John Wise and Wombi Rose
- Business: Pop-up greeting cards
- Ask: $300,000 for 10% equity
- Result: $300,000 for 15% equity
- Shark: Kevin O’Leary
During an at-home segment, we learn about John and Wombi’s journey to create Lovepop cards. The pair met in naval engineering school, and then again in business school. Now, they are hoping to appeal to the human need to connect. They were looking for help expanding the retail side of their business.
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They passed out special edition cards for the sharks, including a basketball card for Mark Cuban and a car-based design for Robert Herjavec. John and Wombi revealed that they sold their cards at kiosks around Boston, and used those kiosks as a way to get customers to go to their website. Each kiosk was also profitable, with around $240,000 in annual sales for each kiosk.
Barbara Corcoran liked the pop-up cards but told the entrepreneurs that it was hardly a new concept. She was out, followed by Lori who had an issue with their valuation. Mark also went out because mall rent could be costly. He also thought their focus was too wide.
Robert liked the idea and the business model. He offered $300,000 for 20% equity. Kevin O’Leary wanted to partner up on the deal, but Robert said no. As a result, Kevin made an offer to match Roberts at $300,000 for 20% equity.
Robert cut his offer down to 15% equity after explaining that he thought John and Wombi needed to expand on retail. Kevin, on the other hand, could bring a lot of customers. Kevin again matched Robert’s new offer.
After a moment of deliberation, John and Wombi decided to take Kevin’s deal, since he was in Boston. Everyone ended up happy! Let’s see how the card business is doing now in our Lovepop update.
In case you had any doubt about this business making it, you’ll be glad to know that Lovepop has been wildly successful! During research for our Lovepop update, we found that in 2022, Lovepop was doing about $150 million in yearly sales.
After using their machines to make face coverings during the pandemic, the company opened six new physical stores in Boston, Florida, and California. Lovepop is coming to New York in 2022, too! The company now licenses some exclusive Disney-based collections, as well.
You can find the entire card collection on the Lovepop website and several of their designs on Amazon too. This Lovepop update is one of the biggest successes in
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