Motherhood is a wonderful experience that comes with its problems and perks. Mothers have to check on every minute detail of their kids to ensure a stable life. Difficulty arrives in times of buying shoes for them as they need to get a proper measurement of their food, which becomes hectic.
Sylvie Shapiro and Nicole Brooks, the co-owners of Busy Baby, are here to the rescue. They have introduced an app that can easily get the perfect foot size of a kid at home without even going to the store. As a podiatric, Sylvie pointed out that there are multiple cases of problems with kids who wore the wrong shoe size. The app works by putting a kid’s foot on the iPad and leaving a footmark on it. Then the app links to Zeppo with the same foot size and allows mothers to choose any footwear they want.
The owners came on Shark Tank to request $75K for 15% of their company. Sylvie also brought her daughter on the show to demonstrate the workings of the app. Let’s see if they got the deal or not.
Foot Fairy Net Worth Shark Tank Update
Sylvie and Nicole were looking for an investment of $75K in exchange for 15% equity in the company. At the time of the episode, they valued their company, Foot Fairy, at $500K. They successfully secured a deal with Mark Cuban for an investment of $100K in exchange for 40% equity in the company. The investment adjusted the company’s net worth to around $250K. After the show was aired, the company experienced a good boost in exposure but unfortunately shut down a few months later. As per my rough estimate, the current net worth of Foot Fairy in 2024 is $0.
$100K for 40%, upon meeting multiple contingencies
Yes
Robert Herjavec
Out
N\A
N\A
Lori Greiner
Out
N\A
N\A
Barbara Corcoran
Out
N\A
N\A
The Owner’s Backstory
Nicole is a mother herself and constantly faces size measurement issues for her kids. Sylvie, a podiatrist, also faced several problems related to kids with respect to the difference in the size of their shoes and feet. This resulted in the creation of Foot Fairy.
The app works by scanning a kid’s foot on an iPad without taking kids to the store to buy shoes for them.
Initial Pitch
The owners came on the show to seek $75K for a 15% equity stake. The business basically works on commission from Zappos and in turn, provides them with customers through their app.
Corcoran asked the first question regarding the missing elements in the app that need to be checked. Nicole answered that they wanted to build the back-end infrastructure to store their customer’s email.
Corcoran also wanted to know about the working mechanism of their product. Nicole replied that basically the app is free but they have an affiliate sales model with Zappos and they will get between 8 to 18% from them.
Herjavec then asked about the number of downloads of the app they have so far. She replied that it was around 13144 and they had launched the app just three weeks before.
They also have received no commission cheque from Zappos as they had a glitch in the app. Fortunately, they had a 98% click rate.
Lori then asked if the Zappos were doing any advertisements for their app. Nicole replied in the negative because they were already confident about their app. They have already spent $2600 on the app and got 13K downloads in just three weeks on their own.
Cuban asked about the maker of the software for their app. Sylvie replied that they have a group of technology team that handles it. They have researched about them before making a team with them.
Cuban also asked about the unique factor that differentiates their app and any other that will be invented. They replied that they worked on it for a whole year and accuracy factor makes their app unique. Moreover, there are other apps to come on Foot Fairy too.
Kevin then highlighted that they have no patent on their app so far. Nicole replied that they already have the passion and expertise to run the app.
Shark’s Response and Final Decision
After hearing their answer Kevin immediately dropped out of the deal.
Lori highlighted that their work is at the initial point and they have not even made a proper business so far. This resulted in her backing out of the deal.
Herjavec also backed out of the deal as their app can be duplicated by anyone.
Corcoran pointed out the passion in the owners of Foot Fairy but she can’t see their app fit to invest in. Thus, she dropped the deal too.
Despite securing a deal on Shark Tank, the business unfortunately came to an end after a couple of months. However, the two ladies made successful ventures on other paths. Nicole got involved in the men’s skincare line and became the co-owner of Strike Club.
Sylvie on the other hand continues to work as a podiatrist and has a successful spa wear and footwear called the Planer Flops.
Thus, even after grabbing a deal from Cuban on the show, Foot Fairy didn’t make any progress in the wider horizon. Luckily for the owners, they are into separate lines of work and enjoying their successful lives.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
