Cap Hat, a hat that provides full sun protection, was started by Bernie Sharrad in 2014. As of January 2024, Cap Hat net worth is $3 million and their annual revenue is not disclosed.
In 2016 May, they appeared on season 2 of Shark Tank Australian and made a deal with Steve Baxter and Andrew Banks, $120K Loan (Share with Steve) and a future option to take a 15% equity stake in the business. The final valuation was $400K, down from the founder’s initial estimate of $480K.
As of 2024 January, the company is still in business. You can purchase products through e-commerce channels such as their website and Amazon.
Cap Hat Net Worth
| Net worth | $3 million |
| Annual Sales Revenue | Not Disclosed |
| Profits | – |
| Lifetime sales | – |
| Investor | Steve Baxter and Andrew Banks |
| Founder | Bernie Sharrad |
| Employees | 1-10 employees |
Cap Hat Net Worth Timeline
| Net Worth 2024 | $3 million |
| Net Worth 2023 | $2.8 million |
| Net Worth 2022 | $2 million |
| Net Worth 2021 | $1.6 million |
| Net worth valuation 2016 after appearing on Shark Tank | $400K |
| Net worth valuation 2016 before appearing on Shark Tank | $480K |
Cap Hat Pitch on Shark Tank
| Company name | Cap Hat |
| Product | A detachable cover for a cap or hat that provides full sun protection |
| Episode | Season 02 Episode 06 |
| Founder | Bernie Sharrad |
| Asked for | $120,000 for 25% Stake |
| Final deal | $120,000 Loan (Share with Steve) and a future option to take a 15% equity stake in the business. |
| Sharks | Steve Baxter and Andrew Banks |
| Location | Queensland, Australia |
Don’t miss these product from Season 02
Cap Hat Founder
Cap Hat was founded by Bernie Sharrad in 2014. Over the last thirty years, he has accumulated substantial experience in operations, maintenance, and project management across various industries, with a primary emphasis on Pharmaceutical Manufacturing, Consulting Engineering, and the Oil & Gas sector. Cap Hat’s founder, Bernie Sharrad, has a net worth of 2 million USD as of 2024.
Key accomplishments
| Year | Accomplishment |
| 2015 | In July 2015, CapHat won the “Best Clothing Accessory” Award at the Australian Fishing Trade Association Expo (AFTA), chosen by retail visitors. |
| 2016 | The company appeared on Shark Tank Australia Season 02 and got the deal from Steve Baxter and Andrew Banks. In April 2016, CapHat received a Bronze Edison Award for Innovation in New York, as assessed by more than 3000 independent industry experts. |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for Cap Hat and its continued success.
