Eyewris, the innovative eyewear company that wowed the Sharks on Shark Tank, has quickly become a standout success story. With an estimated net worth of $1 million, this father-son duo has turned their unique reading glasses design into a thriving business.
From its emotional pitch to the historic five-shark deal, Eyewris has captured the hearts and minds of entrepreneurs and consumers alike. In this in-depth article, we’ll explore the company’s story, explore its growth and operations, and analyze what the future may hold for this promising company.
Who is Eyewris?
Eyewris is an innovative eyewear company that has developed a unique solution to the common problem of misplacing or losing reading glasses. Founded by award-winning inventor Mark Singer and his son Kenzo, a Cornell-educated structural engineer, Eyewris has created a line of foldable reading glasses that can be worn comfortably on the wrist like a watch.
Who Is The Founder Of Eyewris?
The driving force behind Eyewris is the father-son duo of Mark Singer and Kenzo Singer. Mark is an experienced entrepreneur and inventor, best known for creating the hugely successful Gorilla Glue brand, which he later sold for a substantial sum. Armed with his background in structural engineering and architecture, Kenzo brought his design expertise to the table to help perfect the Eyewris glasses.
| Company Name | EyeWris |
|---|---|
| Founders | Mark Singer and Kenzo Singer |
| Product | Foldable reading glasses worn on the wrist |
| Business Status | In Business |
| Episode (Shark Tank) | Season 14, Finale |
| Website | Visit Website |
| Net Worth | $1 million |
How Was The Shark Tank Pitch Eyewris?
Eyewris’ appearance on Shark Tank’s season 14 finale was extraordinary. Mark and Kenzo’s pitch was both innovative and deeply personal, as Mark candidly shared his motivation for creating Eyewris – his struggles with constantly losing and misplacing his reading glasses. The emotional nature of their story, coupled with the Sharks’ genuine enthusiasm for the product, resulted in a rare and historic event – all five Sharks decided to invest in Eyewris, offering $125,000 for a 20% equity stake.
Eyewris Shark Tank Update:
Following their successful Shark Tank appearance, Eyewris experienced massive exposure and a boost in consumer interest. The “Shark Tank effect” led to a surge in website traffic and sales, with the company quickly selling out of its initial inventory. While the Sharks’ deal had not officially closed at this writing, the increased visibility and credibility gained from the show have undoubtedly propelled Eyewris forward.
| Investment Seeking | $25,000 for 5% equity |
|---|---|
| Final Deal Accepted | $125,000 for 20% equity (from all 5 Sharks) |
| Shark Name | All five Sharks (Mark Cuban, Lori Greiner, Kevin O’Leary, Daymond John, Daniel Lubetzky) |
What Happened To Eyewris After Shark Tank?
After the Shark Tank episode aired, Eyewris saw a tremendous increase in demand for its product. The company’s website was flooded with orders, leading to a temporary stock shortage as it worked to fulfill the surge of new business. During this time, Eyewris also received an outpouring of positive feedback and support from both new and existing customers, further validating the appeal of its unique reading glasses design.
Eyewris Net Worth:
As of 2023, Eyewris is estimated to have a net worth of $1 million. This valuation is based on the company’s sales figures, growth potential, and the Sharks’ investment in the business. While the specific financial details have not been publicly disclosed, the Shark Tank deal and the subsequent increase in demand suggest that Eyewris is well-positioned to continue its upward trajectory.
Eyewris Growth and Operations:
Since its inception, Eyewris has focused on refining its core product—innovative, wrist-worn reading glasses. The company has invested heavily in research and development to ensure the glasses are stylish and highly functional, with features like UV protection, blue light filtering, and exceptional durability. Additionally, Eyewris has carefully managed its supply chain and manufacturing processes to maintain quality and cost-effectiveness.
Eyewris Marketing and Sales:
Eyewris has primarily relied on its strong online presence and strategic partnerships to drive sales. The company’s website is the primary sales channel, allowing customers to purchase the glasses directly. Additionally, Eyewris has leveraged social media platforms, such as Instagram and Facebook, to engage with its growing customer base and showcase the versatility and convenience of its product.
Eyewris Social Media Presence:
While Eyewris has a relatively modest social media following, with a few thousand followers across its Instagram and Facebook accounts, the company has actively engaged with its audience. They regularly post content highlighting the glasses’ features, showcase customer testimonials, and provide updates on the company’s progress.
Eyewris Interesting Facts:
- Eyewris’ patented design has earned the company several prestigious awards, including the Red Dot Innovative Product Award and the Good Design Award from the Chicago Athenaeum: Museum of Architecture and Design.
- The company’s founder, Mark Singer, is no stranger to successful entrepreneurship, having previously created the multi-million dollar Gorilla Glue brand.
- Kenzo Singer, the co-founder, brought his expertise in structural engineering and architecture to the table, helping to develop the innovative “bi-stable bridge” technology that allows the Eyewris glasses to fold and wrap around the wrist.
What’s Next For Eyewris?
As Eyewris looks to the future, the company faces several key challenges and opportunities. One of the primary concerns is the current one-size-fits-all design, which has received criticism from customers. Addressing this issue and potentially developing a range of sizes could help the company better cater to its diverse customer base.
Additionally, Eyewris should consider expanding its distribution channels beyond its website, potentially exploring partnerships with major retailers or optical stores to increase its reach and visibility. Leveraging the Sharks’ connections and expertise could also be a valuable asset.
Final Words:
Eyewris’ journey on Shark Tank has been a remarkable success story, showcasing the power of innovation, perseverance, and the ability to connect with investors and consumers alike. With an estimated net worth of $1 million and a historic five-shark deal, the company is well-positioned to continue its growth and solidify its position as a leading player in the eyewear industry. As Eyewris navigates the road ahead, its unique product, passionate founders, and the support of the Sharks provide a strong foundation for even more significant achievements.
Table of Contents