Outer Net Worth Shark Tank Update 2025 

Spending time outside is something that almost everyone enjoys. Whether it is relaxing in the sun, having a family barbecue, or reading a book on the porch, outdoor spaces can bring so much happiness. But one big problem makes these moments less enjoyable: outdoor furniture that is uncomfortable, not durable, or simply not designed to last. Many people have struggled with cushions that get soaked in rain, fabrics that fade in the sun, or chairs that break easily.

They spend a lot of money on outdoor sofas or chairs only to replace them after a short time. This wastes money and makes people feel frustrated. Outdoor spaces should be places of comfort, not stress.

That’s exactly what Terry Lin and Jiake Liu realized. They saw how outdated and poorly designed most outdoor furniture was. They wanted to fix this. Their solution was Outer, a new kind of outdoor furniture company. They promised products that are stylish, comfortable, eco-friendly, and built to last. Terry and Jiake brought their idea to Shark Tank in Season 11, hoping the sharks would see the potential and invest in their dream.

They walked in with an ambitious offer, asking for $750,000 for only 4% of their company. They believed their patented design and innovative business model could change outdoor living forever. But would the sharks agree? The episode was full of excitement, tough questions, and surprising offers.

Outer Net Worth Shark Tank Update 2025 

Terry and Jiake were looking for an investment of $750k in exchange for 4% equity in the company. At the time of the episode, they valued their company at $18.75 million. Terry and Jiake successfully secured a deal with Lori for a $750k loan at 3% interest in exchange for 5% equity and a $30 royalty per chair until $1 million was paid back. The investment adjusted the company’s net worth to around $15 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Outer is around $60 million.

Shark(s) Name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary	$750,000 for 20% equity$750,000 loan for 5% equity, $20/unit royalty until $1 million is paid back	N/A	No
Lori Greiner	$750,000 loan, 10% equity, $20/unit royalty until $1 million is paid back	$750,000 loan, 4% equity, $20/unit royalty until $750k million is paid back$750,000 loan at 3% interest for 5% equity, $30/unit royalty until $1 million is paid back	Yes
Daymond John	Out	N/A	N/A
Anne Wojcicki	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Terry Lin and Jiake Liu Backstory + Their Initial Pitch

Terry Lin and Jiake Liu both had deep experience in business and design before creating Outer. Terry had worked for big companies designing furniture and products that reached millions of customers. Jiake had spent years working on new business ideas and technology. Together, they believed they could bring something fresh to outdoor living.

Their journey started when they realized almost all outdoor furniture had the same problems. People loved sitting outside, but they hated wet cushions, uncomfortable seats, and furniture that looked worn out after just one season. They saw that people deserved better, and they believed they could create it.

One of their biggest challenges in the beginning was convincing people to pay more for something they could not see in stores. Most people still wanted to sit on a sofa before buying it, but Outer planned to sell directly online. To solve this, they came up with a unique idea called the “peer-to-peer showroom.” In this system, Outer customers could sign up to show their sofas to potential buyers in their neighborhood.

When someone visited to test the furniture, the host would earn $20 to $40 per visit. This helped build trust between new customers and the brand without the need for expensive stores.

When Terry and Jiake stepped onto the Shark Tank stage, they explained all of this with passion. They shared their patented “Outer Shell,” a rainproof cover that quickly rolls out to protect the cushions from rain and dirt. They showed off the high-quality design and eco-friendly materials they used in every sofa.

They told the sharks about their sales: $800,000 in just four months, with at least $1 million expected by the end of the year. They asked for $750,000 for 4% equity, valuing their company at over $18 million. They believed their innovative products and new showroom model could change outdoor furniture forever.

Queries + Shark’s Responses, and Final Deal

The first shark to speak was Daymond John. He asked Terry and Jiake about the price of their sofas and how they compared to other outdoor furniture brands. They explained that Outer sofas were priced at a premium, around $3,000 or more, because they used the best materials and thoughtful design. They said customers were willing to pay more because of the durability and comfort.

Daymond listened carefully but felt the valuation was too high. He said he could not see how the company was already worth more than $18 million after just a few months of sales. He decided to go out because he thought the risk was too big for him.

Next, Anne Wojcicki wanted to know what made their furniture different from what she could find at big stores like Costco or Home Depot. Terry explained that their patented Outer Shell kept cushions dry, their cushions used special memory foam, and their showroom system made it easy for people to try the furniture in real homes. Anne liked the creativity but said she did not believe it would change the world.

She thought the product was interesting but not revolutionary enough for her. She chose not to invest.

Mark Cuban was also curious about their business model. He asked how much it cost to make a sofa and what their profit margins were. Terry answered that their sofas cost around $1,000 to make and sold for about three times that price, giving them healthy margins. Mark thought the margins were good, but he was worried about the risk of selling expensive sofas online without physical stores. He felt the investment was too risky and decided he was out.

Kevin O’Leary liked the product and saw potential. He said he was willing to offer $750,000, but he wanted 20% equity, which was five times more than the 4% they originally offered. He argued that the valuation was unrealistic and needed to reflect the risk he would take by investing. Terry and Jiake looked concerned because they knew giving up 20% would be too much.

Lori Greiner came in with an offer that surprised everyone. She said she would give them the $750,000 they asked for, but as a loan with 3% interest instead of an equity investment. She wanted 10% equity and a royalty of $20 per chair sold until she made $1 million back. Kevin quickly jumped in, saying he would match Lori’s deal but wanted only 5% equity, which sounded better for the founders.

Lori stood firm, saying if they considered Kevin’s offer, she would drop out. At that moment, she changed her offer to match Kevin’s 5% equity but increased the royalty to $30 per chair until she got her $1 million back. Terry and Jiake felt Lori’s connections in retail and marketing were too good to pass up. They accepted her final offer and left the stage excited about their new partnership.

Product Availability

Outer’s outdoor furniture has continued to grow in popularity since the Shark Tank episode aired. Their products include sofas, chairs, ottomans, coffee tables, and more, all designed to work perfectly in any outdoor space. Every piece uses eco-friendly materials, such as recycled plastics and sustainable woods. One of the most unique features remains the patented Outer Shell.

This protective cover rolls out in seconds to keep cushions dry and clean, which helps customers avoid the common problem of wet or dirty outdoor furniture.

Outer has also added many new products since the show, such as dining sets, sectionals, fire pits, and rugs made for the outdoors. They now sell directly on their website, www.liveouter.com, where customers can browse their full collection. Prices vary, with sofas starting around $3,000, while smaller pieces like chairs and ottomans cost less. Outer continues to use its innovative showroom system.

Today, they have more than 500 showrooms across the United States, where existing customers show new customers their furniture. This peer-to-peer model allows buyers to see and feel the furniture in real homes, building trust and excitement before making a purchase. Outer’s products are not available in big-box stores, which helps them keep prices fair and customer service personal.

What Happened To Outer After Shark Tank?

Even though their deal with Lori never closed, Outer did not slow down after Shark Tank. Instead, they used the exposure from the show to build momentum. People who watched the episode visited their website and signed up to host showrooms. This helped spread the word quickly. Shortly after appearing on Shark Tank, Outer raised $4.3 million in 2020 from investors who saw the potential of the company.

Then, in early 2021, they raised another $10.5 million in funding to expand their team and product line.

Today, Outer is thriving. In 2023, the company’s estimated annual revenue reached around $45 million, a huge jump from when they appeared on Shark Tank with less than $1 million in sales. They have been featured in major publications like Forbes, GQ, and Entrepreneur. Outer continues to add new outdoor products and plans to move into related areas like outdoor cooking and travel experiences.

Their mission remains the same: to help people enjoy their time outside with beautiful, long-lasting furniture. As of 2024, Outer is still in business, growing every year, and creating products that make outdoor living more enjoyable and sustainable for everyone.

Conclusion

Outer’s journey on Shark Tank was both exciting and challenging. Terry Lin and Jiake Liu impressed the sharks with their eco-friendly outdoor furniture and innovative peer-to-peer showroom system. They left the show with a deal from Lori Greiner for a $750,000 loan at 3% interest, 5% equity, and a $30 royalty per chair until $1 million was paid back. But the deal never officially closed after the show.

Even so, Terry and Jiake did not give up. They took the attention from Shark Tank and turned it into incredible success. Outer has grown from a small startup with big dreams to a company earning tens of millions each year. They have expanded their products, added hundreds of showrooms, and built a loyal community of customers who love spending time outside.

Outer’s story shows that even if things don’t go perfectly in the tank, hard work, creativity, and belief in your idea can still lead to amazing success.