Looking for a distinctive and fashionable replacement for conventional silver wedding bands? Your needs are met by Enso Rings. This creative business creates silicone bands that are cozy, robust, and available in a variety of hues and patterns.
The company approached Shark Tank on episode 3 of season 9. Their pitching was a very interesting one. Initially, criticized by the Sharks, but later one of the Sharks saved them. Let us know who were that life-saving Shark and his investment in the brand.
Quick Facts
| Founders name: | Brighton Jones Aaron Dalley |
| Business details: | Silicone wedding rings |
| Founded in: | 2016 |
| Location : | USA |
| Asking of Company: | $500,000 for 7.5% equity |
| Accepted Deals: | $500,000 for 15% equity |
| Shark on board (Investors): | Robert Herjavec |
| Shark Tank Episode: | Season 09 Episode 06 |
| Net Worth | $20 Million |
| Business Status: | Active |
| Last Updated: | Mar 04, 2024 |
| Social Media | Facebook |
About the Founder
Enso Rings was first introduced in 2016 by the firm owner and founder Brighton Jones. When Jones slid and grabbed the engagement ring on a rock while hiking, one of his fingers slightly propped up. Fortunately, the rock fractured and Jones was unharmed. This kind of occurrence can result in ring avulsion.
Originally the notion of Enso Rings was initially conceived after this incident. Aaron Dalley, a friend of Brighton’s, was informed of the event. In response, the team developed silicone rings that resemble metals yet are less dangerous to put on while engaging in strenuous activity.
Founding the Enso Ring
Elegant rubber marriage rings made for both men and women are called Enso bands. The ring is constructed of pliable, portable silicone, and it is available in a range of shapes, sizes, and hues. Additionally, some Enso rings mimic the style and construction of classic wedding bands, while other Enso rings display more dynamic looks.
An Enso ring is designed to be a less dangerous alternative to rings made of metal so the person is not harmed when participating in challenging activities. Such silicon rings are intended to stop ring avulsion, which happens when a metal band becomes entangled with something and injures the finger.
Shark Tank Appearance
The company, Enso Rings debuted on Shark Tank with a $500,000 capital, and Brighton and Aaron requested a 7.5% ownership of their business. However, the acquisition was successful because Robert Herjavec contributed $500,000 in exchange for a 15% ownership stake in the company.
Other Sharks’ response to the organization was – Mark Cuban finds it offensive the way they promote using terror, however, he thought it was an excellent idea that the owners are advertising a business and creating it whereas Lori Greiner, due to the intense rivalry, she was a bit skeptical about their immediate return on her capital.
Similarly, Barbara Corcoran believes their message is contradictory and ambiguous. She advises them to come up with their next plan of action as quickly as possible.
However, Kevin O’Leary embraced the Enso Ring, after putting it on his finger; he was full of emotions with a sense of affection. This intended him to offer them his support in exchange for their estimation. He proposed an investment of $500K for $2 for each order up to a total of $1.5 Million plus 5% property. However, the owners rejected his offer and gave their word to Harvajec.
After Shark Tank
Following Enso Rings’ debut on Shark Tank, the business saw a significant spike in sales. It began to receive numerous orders from various regions of the country, generating $2 million through 60,000 demands. Since its founding, the business has expanded and offered for sale over 2 million rings.
The corporation currently has a projected net value of $20 Million.