Tangle Pets Net Worth – How Has the Success of the Tangle Pet Boosted Liz Martin’s Net Worth?
Tangle Pets are adorable stuffed animals that double as hair brushes for children. Tangle Pets was founded by Liz Martin after her own struggles taming her daughter’s unruly locks; daily battles trying to get it under control led her to come up with this creative solution: creating Tangle Pets as a distraction while brushing their locks was born from this idea; more parents must be having similar struggles, which led her to start Tangle Pets in response.
The Tangle Pet was created with a brush in the back and plush on top to make brushing fun for children, and since its debut on Shark Tank in 2017 has generated over $12 Million in sales – it can now be found at over 20,000 retail locations nationwide.
Liz was looking to attract $75,000 investment for 35% stake of her company from Lori Greiner during her Shark Tank pitch; unfortunately, none of the other sharks were interested.
Liz was convinced her business idea and story would resonate with investors, yet the sharks remained skeptical that the Tangle Pet could make an impactful debut in the market. Their concern was that an innocuous-looking stuffed animal with a brush wasn’t unique enough to compete against existing products already out there and that selling her product directly to moms who did not face similar difficulties with their daughter wouldn’t work either.
Liz was able to convince the sharks of her commitment to research and market testing; showing them her product as both functional and enjoyable led them to invest in her company.
Liz was quick to start expanding sales following the deal and quickly amassed over $12 Million in sales within months after appearing on Shark Tank, significantly increasing her net worth and giving her an enormous edge in business.
Liz has encouraged customers to sign up for email notifications so that they are informed when Tangle Pets are back in stock.
While the success of Tangle Pet is truly inspiring, it is essential to remember that every product will experience ups and downs – particularly those in startup world. Maintaining the appropriate mindset can prove vital in managing these ups and downs successfully.