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Wise Pocket Products, driven by Sofia Overton’s creativity, not only provides a practical solution to a common problem but also reflects the determination and philanthropic values of its young founder. The Shark Tank deal and subsequent challenges demonstrate the complexities of sustaining a business, especially for a young entrepreneur.
Wise Pocket Net Worth
- Wise pocket net worth estimated to be around $300,000 million.
- The initial financial value was around $200,000 prior to entering Shark Tank.
- Post-Shark Tank investment by Lori Greiner and Mark, the net worth rose to around $20,000,000.
Wise Pocket Products Overview
Founder and CEO:
Sofia Overton, an exceptional entrepreneur who established Wise Pocket Products at the tender age of 11.
Established in Bentonville, Arkansas, Wise Pocket Products specializes in inventive socks with pockets tailored to hold everyday items such as keys and mobile phones.
Socks with built-in pockets, offering a practical and a stylish solution for carrying essentials.
Sofia Overton personally financed the company with $10,000, merging her savings and earnings from business competitions. Motivated by the necessity for pockets in women’s apparel, particularly leggings, she introduced Wise Pocket socks, achieving $16,000 in sales. Later, she featured on Shark Tank, seeking $30,000 for a 15% stake, ultimately securing a deal with Lori and Daymond.
Wise Pocket Social Media
Wise Pocket Shark Tank Deal
Wise Pocket secured a $30,000 investment for a 25% stake, a joint offer presented by Lori and Daymond. The product garnered admiration for its distinctive design, effectively addressing the pocket dilemma in women’s clothing. Sofia’s dynamic pitch and the product’s practicality culminated in a successful deal.
Wise Pocket Post-Shark Tank Update
- Despite obstacles possibly connected to production or other factors—Wise Pocket Products was able to carry on with its commercial activities.
- Although the company is still operating, its website displays sold-out merchandise and it hasn’t actively pushed products online.
- The current estimated worth of Wise Pocket Products is around $300,000.
Wise Pocket Sofia Overton’s Background
- Sofia, now 16, pursues secondary education in Bentonville, Arkansas.
- Founded Wise Pocket Products at 11 after being inspired by her cousin’s struggle with phone storage in leggings.
- Demonstrated commitment to social issues by pledging to donate one pair of socks for every unit sold.
- Raised $10,000 through an IndieGoGo campaign and secured support from Startup Junkie and the local Chamber of Commerce.
- Sofia’s appearance on Shark Tank showcased her innovative product and entrepreneurial spirit.
Who is the CEO of Wise pocket?
Sofia Overton is CEO at Wise Pocket Products plus she also has the F6S Member Profile.
Where is the wise pocket located?
Wise Pocket Products located in Bentonville, AR.
Is the wise pocket still in business?
How much is wise pocket worth?
Wise Pocket is valued at $40 to $50 million as of 2024.
What happened to wise pocket products ?
According to the most recent Wise Pocket Products update as of October 2023, it looks like the business has closed since making an appearance on Shark Tank.
Where can I buy wise pocket socks?
Visit https://wisepocketproducts.com/ and make a purchase.