Legit Kits Net Worth Shark Tank Update 2025  

Quilting is a beloved craft, but for many, it can feel overwhelming. Traditional quilt kits often come with complicated instructions and dull designs, leaving beginners frustrated and experienced quilters bored. Mike O’Dell, a passionate quilter, saw this problem and decided to make quilting fun and accessible for everyone.  

Mike created Legit Kits, a line of quilt kits that combine vibrant patterns with simple, step-by-step instructions. His goal was to bring color and creativity back to quilting, making it easy for anyone to create stunning quilts.  

In Shark Tank Season 16, Mike pitched his business, seeking $150,000 for 5% equity in Legit Kits. He shared his journey, from starting the company in 2020 to achieving $1 million in sales by 2023. While not all Sharks were convinced, Mike walked away with a deal. Let’s dive into the details of his pitch, the Sharks’ reactions, and what happened to Legit Kits after the show.  

Legit Kits Net Worth Shark Tank Update 2025  

Mike was looking for an investment of $150k in exchange for 5% equity in the company. At the time of the episode, he valued his company at $3 million. Mike successfully secured a deal with Kevin for an investment of $150k for 5% equity, with a $10 royalty per unit sold in perpetuity. The investment kept the company’s net worth at around $3 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Legit Kits in 2025 is around $12 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Barbara Corcoran	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	$150,000 for 5% equity + a $10 royalty per unit sold in perpetuity	N/A	Yes
Jamie Lima	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Mike O’Dell Backstory + Initial Pitch 

Mike O’Dell’s love for quilting began as a hobby. But he quickly noticed a problem. Most quilt kits were either too complicated or offered boring designs. Mike wanted to change that.  

In 2020, he launched Legit Kits, a company that makes quilting easy and fun. Each kit includes everything a quilter needs: colorful fabric, detailed patterns, and clear instructions. Mike’s kits are designed for both beginners and experienced quilters, offering over 100 shades of fabric and intricate designs.  

Mike started small, generating $30,000 in sales during his first year. But the business grew quickly. By 2021, sales reached $140,000, and in 2022, they hit $400,000. In 2023, Legit Kits made $1 million in revenue.  

During his Shark Tank pitch, Mike explained his business model. He sells his kits directly to customers through his website. A large kit costs $125 to produce and sells for $399. Mike also shared that his customer acquisition cost was $17, and his profit margin was 8.7% in 2023.  

Mike asked for $150,000 for 5% equity to scale production, optimize inventory, and meet growing demand.  

Queries + Sharks’ Responses, and Final Deal    

The Sharks had a lot of questions for Mike. Here’s how the conversation went:  

Kevin was the first to ask about customer acquisition. Mike explained that he used Facebook ads, which cost $17 per customer. He also shared that quilting is surprisingly popular, with 11.1 million quilters in the U.S.  

Kevin saw potential in the business and offered $150,000 for 5% equity, with a $10 royalty per unit sold in perpetuity. He said, “I like your business, but I need a royalty to make it worth my while.”  

Mark wasn’t interested in the quilting business. He said, “This isn’t for me,” and exited the negotiations.  

Lori admired Mike’s passion but was concerned about inventory risks. She advised him to focus on top-selling designs before expanding. Lori decided not to make an offer.  

Barbara liked Mike but didn’t connect with the product. She said, “I don’t see myself in this business,” and bowed out.  

Jamie raised concerns about inventory management, especially with 60 SKUs. She questioned whether Mike had enough data to manage such a diverse product range. Jamie decided she wasn’t the right partner and exited the deal.  

In the end, Kevin’s offer stood, and Mike accepted the deal.  

Product Availability  

Legit Kits offers a wide range of quilt kits, each including:  

– Vibrant fabric in over 100 shades.  

– Detailed patterns.  

– Step-by-step instructions.  

Popular designs include “Big G the Giraffe” and “Legit Tiger”. The company also offers a “Block of the Month” program, providing quilters with regular inspiration and new projects.  

The kits are available for purchase on the Legit Kits website. Prices range from $125 to $399, depending on the size and complexity of the kit.  

What Happened to Legit Kits After Shark Tank?   

After appearing on Shark Tank, Legit Kits continued to grow. The company moved to a facility three times larger to handle increasing demand. They also expanded their product line, introducing nearly 50 unique designs.  

Mike focused on building a community of quilters, offering workshops, and featuring customer creations on the Legit Kits website. The company also established a network of certified instructors to support and educate its growing community.  

As of today, Legit Kits is still in business, with Mike projecting continued growth. The company has become a go-to brand for quilters looking for vibrant, easy-to-assemble kits.  

Conclusion    

Mike O’Dell’s journey on Shark Tank was a success. He entered the Tank seeking $150,000 for 5% equity and walked away with a deal from Kevin O’Leary for $150,000 for 5% equity, with a $10 royalty per unit sold in perpetuity.  

Since his appearance, Legit Kits has continued to thrive, expanding its product line and building a strong community of quilters. Mike’s vision of making quilting fun and accessible has become a reality, and his vibrant kits are now a favorite among quilters across the country.  

Legit Kits is a shining example of how passion and persistence can turn a simple idea into a successful business. We can’t wait to see what Mike does next!