SockTABS, a wearable solution to the missing sock, was started by Tracie Burress and Glen Burress in 2014. As of November 2023, SockTABS’s net worth is $1.1 million and they were $1 million annual revenue in 2022.
In November 2015, they appeared on Season 07 of Shark Tank USA and made a deal with Daymond John, $50,000 for 30% equity . The final valuation was $166K, down from the founder’s initial estimate of $250K.
As of 2023 November, the company is still in business. You can purchase products through e-commerce channels such as their website and Amazon.
SockTABS Net Worth
| Net worth | $1.1 million |
| Annual Sales Revenue | $1 million (2022) |
| Profits | – |
| Lifetime sales | – |
| Investor | Daymond John |
| Founders | Tracie Burress and Glen Burress |
| Employees | 1-25 employees |
SockTABS Net Worth Timeline
| Net Worth 2023 | $1.1 million |
| Net Worth 2022 | $1.1 million |
| Net Worth 2021 | $1 million |
| Net Worth 2020 | $500K |
| Net worth valuation 2015 after appearing on Shark Tank | $166K |
| Net worth valuation 2015 before appearing on Shark Tank | $250K |
SockTABS Pitch on Shark Tank
| Company name | SockTABS |
| Product | Tabs that keep socks together |
| Episode | Season 07 Episode 09 |
| Founders | Tracie Burress and Glen Burress |
| Asked for | $50,000 for 20% equity |
| Final deal | $50,000 for 30% equity |
| Shark | Daymond John |
| Location | Rockford, Illinois, USA |
Don’t miss these product from Season 07
SockTABS Founders
SockTABS was founded by Tracie Burress and Glen Burress in 2014. They’re a married couple. Glen is a pediatric gastroenterologist and an assistant professor of pediatrics at the University of Illinois Medical School. Tracie, a pharmaceutical sales representative, began working on SockTabs in 2014 after experiencing a brain aneurysm and undergoing an 11-hour brain surgery. SockTABS’s founders, Tracie Burress and Glen Burress, have a net worth of 900K USD as of 2023.
Key accomplishments
| Year | Accomplishment |
| 2015 | The company appeared on Shark Tank Season 07 and got the deal from Daymond John |
| 2021 | At the end of 2021, they acquired additional stock |
| 2022 | As of August, 2022, they are up and running with around $1 million in annual revenue |
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 SockTABS and its continued success.