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Zorpads Net Worth: Incessant Bidding Process 




Zorpads Net Worth

Long-term shoe wear may result in a frowsty smell that is tricky to remove. Zorpads, the most recent development and best-selling shoe odor-removing pad on the market today, was created to address this issue.

They debuted the product on Shark Tank, which blew the minds of the Sharks. A never-ending bidding combat was going on. Everybody seemed bold enough to win it. Whom did the owners choose as their collaborators? How did the company make a profit after the show? Find out the details given below.

Quick Facts

Founders name: Zierra Smith, Taylor Weigele
Business details: Shoe inserts to eliminate unpleasant odor
Founded in: 2017
Location : USA
Asking of Company: $150,000 for 8% equity
Accepted Deals: $150,000 for 22.5% Equity
Sharks on board (Investors): Charles Barkley, Lori Greiner
Shark Tank Episode: Season 10 Episode 13
Net Worth: $4 million
Business Status: Active
Last Updated: Mar 20, 2024
Social Media: Facebook

About the Founder 

The two creatives of the Business School of Harvard, Taylor Wiegele and Sierra Smith created the concept for the shoe odor-removing pads. They also founded Zorpads and are the proprietors of it. 

Both entrepreneurs continue to work their regular daily tasks, managing Zorpads as an additional income source. They both arrived at the Tank dressed in suits and dresses with matching outer space themes.

Founding the Zorpads

According to the designers, the shoe cushions were made using NASA-approved technology. Zorpads adhere to the sole inside the footwear and weigh about the size of a business card. Before they need to be replaced, they operate for roughly 60 wears. 

Each Zorpad has three layers: a glue-like surface, a smell-absorbing section, plus a breathable layer. The smell-captivating layer is known as the secret ingredient. It is a carbon-based, porous material having a tennis court-sized circumference that vacuums up odor from shoes.

 They are reasonably priced at $4 to $5 for one pair, but they are considerably more economical when purchased in large quantities. 


Shark Tank Appearance 

The duo entered the Shark Tank in January 2019, season 10 looking for a $150,000 capital for 8% ownership. NBA icon Charles Barkley said he might have employed the item during his playing days after showing specimens of Zorpads.

Cuban is the sole individual to be in distress, who is against their business tactics, however, the remaining sharks swiftly turn towards the team.

The first Shark to propose was Lori Grenier, who says she will demonstrate the efficiency of the product on Barkley’s pair of 17 shoes on QVC. She bids for a portion of 30% of the $150,000. Robert Herjavec and Kevin O’Leary entered the scene with an array of aggressive transactions because they felt Grenier was stealing precious stock.

The auction war continued as the owners were attacked by Charles and Lori by 20%. After their disapproval, Kevin reduces to 15%, following him Robert reduces to 12%. Nobody was backing out, they were desperate to win the battle. However, Grenier was only determined to reduce her offer to 22.5%, and the business owners embraced it in recognition of the worth she added.

After Shark Tank 

The creators of Zorpads are confident about the company’s future because the sales have increased by over 400% in 2019, shortly after their Shark Tank debut. They continue to advertise to viewers, content with predicted monthly sales of $25,000.

The company’s projected worth was more than $1,000,000. However, as of June 2021, annual profits were $4 million.

The company also made a profit through online retailers like Amazon and Walmart; the goods can be purchased in a variety of nations.

James is the SEO Manager here at Patty360. He has worked as a content writer for various local and national news sites covering entertainment and tech.

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