Felt App Net Worth Shark Tank Update

Traditional hand-written cards are time-consuming and inconvenient greeting style. It makes it difficult for some people to express their feelings and collaborate with their loved ones. But in today’s world, people have modernized the conception to harmonize meaningful relationships through subjective gestures.

Similarly, Tomer Alpert pitches the felt greeting card app on the shark tank. He came in season 7, episode 29, and asked for $200k for 6% of his company from the sharks. Will Tomer become successful in making a deal with the sharks? Regarding the company’s update, read the shark tank blogs regularly.

Felt App Net 2024 Worth Shark Tank Update

Tomer was looking for an investment of $200k in exchange for 6% equity in the company. At the time of the episode, he valued his company at $3.33 million. Tomer successfully secured a deal with Kevin for an investment of $225k for 6% equity in the company. The investment adjusted the company’s net worth to around $3.75 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Felt Greeting Card App in 2024 is around $1.75 million.

Shark(s)	Offer and Demand	Counteroffer	Accepted?
Robert Herjavec	Out	N/A	No
Lori Greiner	Out	N/A	No
Kevin O’Leary	In	$225k for 6% stake	Yes
Barbara Corcoran	Out	N/A	No
Mark Cuban	Out	N/A	No

Founders Backstory And Their Initial Pitch

Tomer Alpert appeared on Shark Tank and explained the concept behind using a felt greeting card app. It is a simple app that allows you to remit a handwritten card from the phone. He designed the app in 2013 to allow people to personalize their thoughts creatively. According to the recent update on the website, “it is snail mail, reimagined for the modern world”. 

How it works? First, you select an image from the smartphone and then use your finger to write a brief note and address on the envelope. The note is pictured on the phone while using the app. The app has numerous options such as selecting the font, theme, or style and editing the card’s design. Once you create the card in the app, then it helps you with customization. 

Similarly, the structure of the card is square-shaped. The design you select on the phone can be given to you in printed form on premium paper. The app uses ink thus, it seems a human has designed the card. The approach is quite humanistic. Hence, you can put the greeting card in an envelope with a stamp on it. The cost varies within various cards and gives a subtle discount to its customers. Meanwhile, the card is only accessible for Apple products.

The Felt Greeting Card App has been installed 60k times and the reviewers gave 4.5 stars on the Apple iTunes site. Tomer expounded that the card is more likely to hit the wedding peddles. Moreover, the company is looking forward to customers who are interested in creating wedding cards by using advanced technology. Tomer had a firm belief that the Felt Card would be beneficial for the brides and competitors. 

Queries, Shark’s Responses, And Final Deal    

Tomer mentioned the technological aspect of the Felt Card to the sharks. Firstly, Robert does not believe in technology and was not inspired by the concept of the Felt Card. Secondly, he thought there was a dearth of patents in the business so, he went out.  

In the meantime, Kevin claims that Tomer needs to team up with other companies and investments such as HoneyFund. HoneyFund provides food for wedding ceremonies. Kevin preferred Tomer a deal of $225k for a 10% stake. 

However, Mark decided to stay out while Barbara and Lori stood on the page. They were out and advised Tomer to accept Kevin’s deal. Later, Tomer agreed to make a deal with Kevin. 

Following the recent update, Shark Tank frequently updates the website and follow-ups. After the broadcasting of the episode, the business strikes remarkable growth. The progress continued and the deal with Kevin never closed.  

What Happened to Felt Greeting Card App After Shark Tank?

Kevin and Tomer continued to make a successful deal. Kevin fostered the entrepreneur with long-term investment. The Felt Greeting Card App is accessible on iTunes websites. Additionally, the company updates its social media accounts and remains active in answering the queries of customers. Facebook and Twitter are in active progression resulting in striking growth. According to June 2022, the company made a noticeable development of $1.5 to 2 million in annual wholesale.

Product Availability  

The products can be procured on the official websites of Amazon and Felt Greeting Card App. The Felt app personalizes the greeting cards for the customers. The curated gift options include seasonal tea and coffee, card frames, and holders to customize soothing and serene bath selection options.

It can either be a 2-day or overnight delivery with the card tucked safely all around. The cards consist of exceptional greeting designs, photo cards, boxes of cards, group cards, single-panel, two-panel, three-panel, four-panel, curated designs with a vibrant community of designers and artists, and many more.

The prices of the felt cards are affordable with a reasonable discount. You can order a box of 25 or more cards including postage. The felt cards are best for holiday cards, greetings, and other announcements formalities. It starts with $4.05 per card valuation. 

Conclusion      

Tomer Albert appeared on the shark tank and presented his company with a remarkable start-up. He explained the conception behind the Felt Greeting Card App with his charismatic vision and agenda. Similarly, he asked for $200k in exchange for a 6% stake in his company. After pitching the product, he got several reviews and advice from the sharks.

Robert does not support the stance of technological advancements. He believed that the product lacked copyright options and went out. The rest of the sharks including Barbara, Lori, and Mark were also not interested in making a deal with Tomer. Hence, they went out. The last shark, Kevin offered $225k for a 6% stake to Tomer. Lori and Barbara advised Tomer to accept Kevin’s offer. At last, Tomer agreed and accepted Kevins’ deal.