Keeping shoes clean and shiny isn’t easy. Because of this, Chris Pavlico and Kevin Consolo came up with their patent-pending solution. Will they clean up with a deal on
If you’re short on time, here’s a quick overview of what happened to SneakERASERS after
SneakERASERS appeared on
|Lori Greiner and Alex Rodriguez||Accepted deal of $200,000 for 20% equity|
|Kevin O’Leary||$200,000, for 15% equity|
|Mark Cuban||$200,000 for 12.5% equity|
|Barbara Corcoran||No Offer|
Shark Tank SneakERASERS Update
- Entrepreneur: Chris Pavlica and Kevin Consolo
- Business: Dual-sided cleaning sponge for shoes
- Ask: $200,000 for 8% equity
- Result: $200,000 for 20% equity
- Shark: Lori Greiner and Alex Rodriguez
Chris and Kevin brought their company and product, SneakERASERS, to
Bring your shoes back to life! Whether you are a sneaker enthusiast or simply want to clean your shoes to give them a clean new look, our Overnight Soak is the product you've been looking for!
The unique design of the sponge is a convenient and portable way to keep shoes looking clean and sleek. All of the sharks take a moment to try out the product, and they’re impressed with how well it works.
A 3 pack of sponges retails for $9.99, and it costs the company $1.98 to produce. They say they sell a 1 pack at over 2,000 Walmart stores for $3.99 MSRP.
With such a useful product, the two guys are more than happy to share that they sold $1.1 million worth of products year-to-date at the time of the episode. Even better, they are expecting to close out the year with $1.8 million in sales.
They’re a boost in sales because of their deals with big-box retailers rolling out their products nationwide. However, the two still feel like a shark is necessary to help them with their margins, as well as marketing and advertising strategies.
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Kevin O’Leary is impressed, so he offers $200,000, for 15% equity. However, the guys state that it’s too much equity for them to give up.
At this point, guest shark Alex Rodriguez asks how he can help the company move from good, to great. They respond by sharing that they have two other related brands of sponges. One is for golf clubs and the other is for car detailing.
These are already selling in big box stores and they want help in launching those brands more successfully.
With that, Barbara Corcoran drops out, recognizing that the guys are inventors, and she doesn’t work well with inventors.
Lori Greiner on the other hand, says she loves inventors, so she and Alex partner up with an offer of $200,000 for 20% equity.
However, Mark Cuban also throws his hat into the ring, saying that he has a completely different idea for how SneakERASERS can blow up.
According to Mark, SneakERASERS will be better off partnering with shoe companies. To make this happen, Mark offers to invest $200,000 for 12.5% equity.
They counter Mark back, asking for $300,000 for 10% equity, and he immediately goes out. That’s when they accept the deal with Lori and Alex.
Keep reading our SneakERASERS update to find out what happens following
We have great news to report in our SneakERASERS update! Since airing on
Additionally, after appearing on the show, the eraser sponges were chosen to be one of 28 products that are a part of ABC’s GMA deals by Tory Johnson for Good Morning America.
At the time of writing, the company’s products have received thousands of ratings on Amazon.
The SneakERASERS website also has all 3 of their brands available for sale, which include the GolfERASERS, and AutoERASERS.
Before you go, be sure to check out updates for the other companies featured on Season 12 Episode 23:
For more on
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!