Spare, a financial App, was started by D’ontra Hughes in June 2013. As of September 2023, Spare net worth is $ 22.1 million, and they’re pulling in a whopping $4 million in annual revenue.
In April 2019, they appeared on season 10 of Shark Tank USA and made a deal with Mark Cuban for $500,000 for 12% equity and 2% advisory shares. The final valuation was $4.1 million, down from the founder’s initial estimate of $14.3 million.
Spare Net Worth
|Net worth||$22.1 million|
|Annual Sales Revenue||$4 million|
|Profits||Not publicly available|
|Lifetime sales||Not publicly available|
|Shark Tank Investor||Mark Cuban|
Spare Net Worth Timeline
|Net Worth 2023||$22.1 milion|
|Net Worth 2022||$22 million|
|Net worth valuation 2019 after appearing on Shark Tank||$3.57 million|
|Net worth valuation 2019 before appearing on Shark Tank||$14.3 million|
Spare Pitch on Shark Tank
|Episode||Season 10 Episode 20|
|Asked for||$500,000 for 3.5% equity|
|Final deal||$500,000 for 12% equity and 2% advisory shares|
|Location||West Hollywood, California, United States|
Spare was founded by D’ontra Hughes in 2013. D’ontra Hughes is an expert with 15 years of experience in the financial sector. He is also the founder of Lendup financial company. Spare’s founder, D’ontra Hughes, has a net worth of $19 million USD as of 2023.
|2019||Appeared on Shark Tank season 10 and Mark Cuban invested $500,000 for 12% equity and 2% advisory shares|
|2021||Raised $10 million in Series A funding led by Accel|
|2022||Launched their mobile app on google app store.|
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 Spare and its continued success.