Pink Picasso Net Worth Shark Tank Update

Teenagers and adults lack opportunities to express their selves in the form of artistic skills and creativity. Sometimes, the limited resources give rise to stress, anxiety, and unease. The finite self-expression decreases confidence among artists due to which they have to stay away from their work.

Pink Picasso Paint kits was founded by Ashley and Brittany Silfies. They pitched the Shark Tank in Season 13, ep 7. Both elaborated the conception of the kit for the enhancement of the wall’s décor. They seek for $400k in return of 5% exchange. Will the entrepreneurs get a deal with the sharks? Check out Pink Picasso Paint Kits update to find out!

Pink Picasso Net Worth 2024 Shark Tank Update

Ashley and Brittany Silfies were looking for an investment of $400k in exchange for 5% equity in their company, Pink Picasso Paint Kits. At the time of the episode, they valued their company at $8 million. Ashley and Brittany successfully secured a deal with Lori Greiner and Daniel Lubetzky for an investment of $400k for 15% equity in the company. The investment adjusted the company’s net worth to around $2.67 million. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Pink Picasso Paint Kits in 2024 is around $5 million.

Shark(s) nameOffer and DemandCounterofferAccepted?
Lori Greiner and Daniel LubetzkyIn$400k for 15% equityYes
Barbara CorcoranOut$400k loan for 5% stake with 8% interest  No
Kevin O’LearyOut$400k for 3% equity and $6 royalty/kit in perpetuityNo
Mark CubanOutN/ANo

Founders Backstory And Their Initial Pitch

Ashley and Silfies paired up on Shark Tank to make a deal with them. They ran two businesses named Modern Monet and Where Your Sole. Silfies worked as a lab technician, while Ashley served as a former manager. They started their business in 2019; it was a time when Oprah was considered the ideal thing but after some time Pink Picasso paint kit became popular during the COVID-19 pandemic. The two businesses, Modern Monet and Pink Picasso When did paint systematically with $42. 

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During the pandemic the entrepreneurs commenced their business precisely at a $1500 valuation, resulting in about $1.3 million in retail sales. But in 2020, the sales uplifted to $3.5 million. Eventually, in filming the sales boosted to $1.4 million with a peaking gross amount of $5 million. An adult kit valued at $3.77 markets for $19 and trades for $42. The Sharks were impressed by the numbers. They predicted $5 million in net sales by 2021.

Pink Picasso paint kits provoke creativity and aesthetics among artisans. It aims to create a wall art masterpiece in a fun with kids and friends. The kit is perfect for beginners and painters because it provides a soothing way to express the artistic side. furthermore, it is designed for artists to follow up their choice in creating, An ideal way in the world of painting the features, and Oprah’s favorite things contain professional-looking wall art. The set consists of botanical designing and appointed canvas where each section is divided into paint colours. The premium aesthetics contains acrylic paints and 4 brushes in various shapes and sizes.

Queries And Shark’s Responses, And Final Deal

Ashley and SilfieKits valued Pink Picasso Paint Kits at $3.77 to create 16 × 20“ kits for artists where it can be wholesale for $42. Besides, they run 2100 boutiques but have the idea of making huge profits. The ladies think to patent with Disney but they also want the support of Sharks. 

In the first place, Kevin asked for $400k in return for a 33% stake and interest in distribution. Next, Lori was fond of the aesthetics and product. She adores the vision and artistry of the kit. Lori decided to hook on the guest Shark Daniel Lubetzky. They seek $500k in return for a 20% stake. Amidst the rest, Sharks also gave an offer to the ladies. However,  Barbara Corcoran thought they didn’t need a Shark, thus, she was out. 

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Lori Greiner differs from the idea of Barbara because she, the entrepreneur, needs a fast race. Marks quoted, ‘’Don’t sell yourself short, you are crushing it.”  

Meanwhile, Barbara Corcoran decided to stay in the play again and offered them $400k with 8% interest for 5% of the business. At the moment, Daniel offered $400k for a 20% stake. Mark Cuban supported Barbara’s deal but the ladies accepted the deal of Lori and Daniel at $400k for 25% equity.  

Later, Kevin backed in with another offer of $400k for a 3% stake and $6 royalty/kit in perpetuity. Ashley and Silfies encountered Lori and Daniel’s deal with a 15% stake. They accepted the deal and ended the pitch with hopes and smiles.  

What Went Wrong With Pink Picasso Kits

Shark Tank regularly gives updates about the Pink Picasso Paint Kits. The desk never ends. By 2022, the sales boosted by 25% while the business is still in business. According to July 2024, the annual revenue of the company is $5 million. Ashley stated, “We are thrilled about where the company is now, and we are growing year over year.’’ Silfies said, “We are very focused on our direct-to-customer strategy and enjoy providing new ideas.’’

Product Availability

The products are officially accessible on Amazon and Pink Picasso Paint Kits portals. Different colors and themes are available, including Happily Hydrangea, Perfect Petals, Sensitive Succulents, and Blushing Blooms, at affordable rates. Additionally, Brush Set, Darling Dahlia, and Magnet Poster Frame-Portrait/Vertical, 16 inches wide, are also obtained through the websites. 

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Conclusion

Ashley and Silfies appeared on Shark Tank and presented their company, Pink Picasso Paint Kit. The ladies seek $400k in exchange for a 15% stake. Pink Picasso Paint Kit offers a distinct set of wall decor masterpieces and innovative outlets for beginners and experienced painters. It is a platform where artists can express their selves through relaxing and chilling paintings.

The company helps empower kaleidoscopic aesthetics among artisans. It mitigates anxiety and stress, thus bringing colors to life, respectively.

Following the sensible posture, Ashley and Silfies decided to make a deal with Lori and Daniel. They offered $400k for a 15% stake to the entrepreneurs. The ladies accepted the agreement and decided to make a profitable investment with the two Sharks.