Foam Party Hats is a handmade party hat company that customizes hats for any special event or occasion. It appeared in Shark Tank season 12, episode 05. The founders, Manuel and Grace Rojas, entered the show with the hope of $100k for 10% of the company. But accept the offer from Mark Cuban and Lori Greiner of $100k For 25% equity of the company.
As of 2023, the Foam Party Hats has an estimated net worth of $2 Million and is successfully in business this year. Along with that, The founders Manuel and Grace Rojas, hold a net worth of $660,000.
But how does Foam Party Hats reach this much net worth after Shark Tank? Let’s find out more. Hats are a great way to express your personality, but they can be expensive, and it’s hard to find the perfect one.
Read what happened to Foam Party Hats worth and net worth update in brief here.
Current Net Worth Of Foam Party Hats
They made over $3.5 million from sales over the years. As of 2023, the estimated net worth is around $2 Million, and the annual revenue of the Foam Party Hats was around $1 million as well.
During the pitch, the company was valued at around $666K. It was valued at $400K after two sharks made their offers.
You can visit their official online store to order unique hats according to your party needs.
What Is Foam Party Hat?
Foam Party Hats is the solution to your hat woes. They have over 600 models of predesigned hats that you can choose from, and we also let you design your hat for no extra charge. Plus, our hats are made from high-quality materials and are incredibly affordable.
After appearing on Shark Tank, Foam Party Hats became known nationwide in the United States and expanded their sales through online and offline channels.
Foam Party Hats has an estimated lifetime sales of over $3.5 million. The company has launched new products and ships hats to over 30 countries, including the UK, France, Canada, etc.
They make hats mainly for occasions like weddings, birthdays, holidays like Christmas, Halloween, and more.
The Founders Manuel Rojas And Grace Rojas
The handmade party hats company Foam Hats is a family business founded by a mother and son. Grace and Manel Rojas immigrated from Venezuela to the US in 2010.
Speaking about business, Grace was already a hat maker for her family members on special occasions and local events while Manuel was studying chemical engineering.
They are now selling their high-quality hats through Amazon and their online store.
What Happened At The Shark Tank
Foam Party Hats LLC was already a successful business when they presented at Shark Tank. Grace was making party hats for fun local events already when Manuel joined the company in 2017.
The company had no debt, and the production almost doubled around 2018 and 2019. After Covid-19 hit the market, they moved to Amazon and made 6000$ in one month.
They were hoping for shark funds to increase production.
Foam Party Hats was hoping for an investment of $100K for 15% of their company. After hearing their funny pitch, Mark Cuban and Lori Greiner offered a joint bid of $100 000 for 25%.
But the deal was never finalized.
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What Happened To Foam Party Hats After The Shark Tank?|Foam Party Hats shark tank update
The deal offered to the Foam Part Hats by two sharks was never finalized. The company is still up and running.
They have an official online store and also sell from Amazon. Covid-19 was a bad hit. But they somehow managed to get sales via giant retailer websites like Amazon.
As of March 2023, Foam Party Hats has generated over $1 million in sales, and products are available in 750+ stores nationwide. The investment in automation equipment has improved their manufacturing process over time. Foam Party Hats are currently being sold in every state in the US and in many other countries worldwide.
They have now expanded products to not only party hats but headbands, wigs, and vintage hats.
The deal offered to the Foam Part Hats by two sharks was never finalized. But the company is still up and running. They have an official online store and also sell from Amazon.