Hats are a great way to express your personality, but they can be expensive and it’s hard to find the perfect one.
Most people only wear hats a few times a year, which makes them reluctant to spend a lot of money on one. Rather to create custom hats with their own personalities. And since everyone has different head shapes, it’s hard to find the perfect hat without trying it on first.
Read what happened to Foam Party Hats worth and net worth update in brief here.
What Is Foam Party Hats?
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.
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’s funds to increase the 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.
They have now expanded products to not only party hats but headbands, wigs, and vintage hats.
Current Net Worth Of Foam Party Hats
They made $153K from sales in mid-2020. The annual revenue of the Foam Party Hats was around $224K in 2021. Manuel Rojas’s net worth is around $1.5M.
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.
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.