Cordaroy’s, a Bean bag chair that turns into a bed, was started by Byron Young in 1998. As of December 2023, Cordaroy’s net worth is $10 million and they’re pulling in a whopping $5 Million in annual revenue.
On March 8, 2013, they appeared on season 4 of Shark Tank USA and made a deal with Lori Greiner, for $200,000 for 58% equity. The final valuation was $344,827, down from the founder’s initial estimate of $1 Million.
Cordaroy’s is the most comfortable & versatile bean bag chair in the world and Cordaroy’s is still in business. Their products are available to purchase on the official website.
Cordaroy’s Net Worth
Net worth | $10 million (2023) |
Annual Sales Revenue | $5 Million (2022) |
Profits | $100,000(2013) |
Lifetime sales | $48.8 million |
Investor | Lori Greiner |
Founder | Byron Young |
Employees | 53 |
Cordaroy’s Net Worth Timeline
Net Worth 2023 | $10 million |
Net Worth 2022 | $7.5 million |
Net Worth 2021 | $6 |
Net Worth 2020 | $4 million |
Net worth valuation in 2013 after appearing on Shark Tank | $344,827 |
Net worth valuation in 2013 before appearing on Shark Tank | $1 Million |
Cordaroy’s Pitch on Shark Tank
Product | Bean bag chair that turns into a bed |
Episode | Season 04 Episode 19 |
Founder | Byron Young |
Asked for | $200,000 for 20% equity |
Company name | Cordaroy’s |
Final deal | $200,000 for 58% equity |
Shark | Lori Greiner |
Location | University Avenue Gainesville, FL |
Don’t miss these products from Season 04
Cordaroy’s Founder
Cordaroy’s was founded by Byron Young in 1998. He is a very passionate entrepreneur. He also has a patented convertible bean bag chair. Cordaroy’s founder, Byron Young, has a net worth of $4 Million as of 2023.
Key accomplishments
Year | Accomplishment |
2023 | Cordaroy’s is known as the most comfortable & versatile bean bag chair in the world. |
2013 | Cordaroy’s appeared on Shark Tank. |
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 Cordaroy’s and its continued success.