Sealed by Santa Update | Shark Tank Season 8
First into the Christmas-themed
Shark Tank Sealed by Santa Update
- Entrepreneur: Sarah Blaine
- Business: Personalized letters from “Santa”
- Ask: $150,000 for 20% equity
- Result: $75,000 for 22.5% equity + $75,000 loan
- Shark: Lori Greiner
Before we head off to our Sealed by Santa update, let’s talk about what happened when Sarah tussled with the sharks.
Sealed by Santa is a company whose goal is to deliver the magic of Santa to children. However, the company isn’t just a seasonal one. It can send specialized letters to kids all year round, such as for their first birthday, christening, and even a letter reserved specifically for those who’ve been naughty all year round.
The sharks were impressed by the concept, even more so by the sales. After doing $355,000 in sales the past year, Sarah proudly said that the company expects to do more the following year. She also explained that Sealed by Santa has since expanded its offerings. It had become a year-long business that included other holidays, with plans to add even more down the line.
Unsurprisingly, the first to tender an offer was Kevin O’Leary, who offered to invest $150,000 for 33.3% equity. Barbara Corcoran liked the idea, but she didn’t find it a worthy investment, so she went out. Mark Cuban expressed the same sentiments as well. Meanwhile, Robert Herjavec copied Kevin’s offer and promised to give Sarah $100,000 annually. He was in full support of the business’ decision to expand and include other holidays.
At the proverbial last minute, Lori Greiner made an offer of $75,000 for 22.5% with the other $75,000 being given as a loan. The two ultimately shook hands on the deal after Sarah proposed that they could do a Tooth Fairy-themed letter.
As for our Sealed by Santa update, you’d be happy to know that everything’s gone merry for the business. After securing a deal with Lori Greiner, Sealed by Santa has continuously expanded its product line. It now offers 12 different letters straight from Santa with other seasonal products occasionally being introduced.
We don’t really have figures to throw in our Sealed by Santa update, but we bet that Sarah paid off Lori’s loan long ago.
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