Rareform, a Bags and backpacks company, was started by Alec Avedissian and Aric Avedissian in April 2012. As of September 2023, Rareform net worth is over $10 million and they’re pulling in a whopping $6.3 million in annual revenue.
In March 2017, they appeared on Season 8 of Shark Tank USA and made a deal with Kevin O’Leary, for $300,000 for 18% of equity. The final valuation was $1.66 million, down from the founder’s initial estimate of $3 million.
In August 2023, Rareform is still in business. With the help of Shark Tank, they were able to attract many trustworthy customers. And now you can purchase their products online through their official website.
Rareform Net Worth
|Net worth||> $10 million|
|Annual Sales Revenue||$6.3 million|
|Shark Tank Investor||Kevin O’Leary|
|Founder||Alec Avedissian and Aric Avedissian|
Rareform Net Worth Timeline
|Net Worth 2023||> $10 Million|
|Net Worth 2022||$10 Million|
|Net worth valuation 2017 after appearing on Shark Tank||$1.6 Million|
|Net worth valuation 2017 before appearing on Shark Tank||$3 Million|
Rareform Pitch on Shark Tank
|Product||Bags and backpacks made out of recycled billboard vinyl|
|Episode||Season 8 Episode 19|
|Founders||Alec Avedissian and Aric Avedissian|
|Asked for||$300,000 for 10% equity|
|Final deal||$300,000 for 18% equity|
|Location||Agoura Hills, California|
Rareform was founded by Alec Avedissian and Aric Avedissian in 2012. Alec Avedissian is the founder and CEO of Rareform. He is a graduate of the University of Southern California and has a background in marketing and business. Aric Avedissian, is the co founder of the company. And He is a graduate of the University of California, Los Angeles in engineering. Rareform’s founders, Alec Avedissian and Aric Avedissian, have a net worth of $9 million USD as of 2023.
|2017||Appeared on Shark Tank season 8 and Kevin O’Leary invested $300,000 for 18% equity.|
|2018||Became the certified B Corp|
|2022||Launched its first line of home goods.|
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 Rareform and its continued success.