The premium luxury polo shirt company, Baobab, was started by Marcellus Alexander III and Brandon Davenport in 2017. As of August 2023, Baobab’s net worth is $3 million. And they’re pulling in a whopping $1 million in revenue yearly to back it up.
In October 2019, they appeared on Shark Tank USA seeking $150000 for 10% of equity, valuing the company at $1.5 million. There were several reasons to reject Baobab by sharks. They saw flaws in their company name, especially with Kevin O’Leary. Their high valuation was a problem for Daymond John. Finally, all the sharks dropped out of the company.
In August 2023, Baobab company is still in business. They have expanded their business significantly throughout these years. Now, you can purchase online if you are willing to buy their Polo T-shirts. For that, you have to visit their company website.
Baobab Net Worth Timeline
|Net Worth 2023||$3 million|
|Net Worth 2022||$2.5 Million|
|Net worth 2019 before appearing on Shark Tank||$1.5 Million|
Baobab Pitch on Shark Tank
|Product||premium luxury polo shirt|
|Episode||Season 11 Episode 3|
|Founders||Marcellus Alexander III and Brandon Davenport|
|Asked for||$150,000 for 10% equity|
|Final deal||No Deal|
|Location||New York, New York City, United States|
Marcellus Alexander III and Brandon Davenport found Baobab in 2016. Marcellus comes from a managerial background. He has worked in several companies, including Travelzoo, Hearst, and John Paul. Brandon Davenport, the other member, is a financial expert. He worked at the General Assembly to study finance at Morgan State University. Baobab’s founders, Marcellus Alexander III and Brandon Davenport, have a net worth of $3 million as of 2023.
|2019-2020||Increased the company growth rate of 800%|
|2021||Successfully raised a total amount of $103,459 from 292 investors.|
|2022||By having the advantage of pandemic, they produced face masks and by January 2022 they achieved the revenue of $1 million|
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 Baobab and its continued success.