Sparketh’s net worth is $2 million as of March 2024. In 2020, the company made $300,000 in annual sales. By the time of the pitch in 2021, company sales were at $500,000. In October 2021, they appeared on Season 13 of Shark Tank USA and made a deal with Barbara Cocoran and Daniel Lubetzky for $100,000 for 20% equity, with a 6-month contingency deal. The final valuation was $500,000, down from the founder’s initial estimate of $1.25 million.
After the show, Sparketh issued a press release, announcing that they are proceeding with the deal made at the show. However, the sharks have not listed Sparketh on their websites. There is no precise data to confirm whether the deal went through. Nonetheless, the company witnessed growth following its appearance on the show. The company expanded its customer base over the last couple of years, and as of 2024, Sparketh is successfully running its business. You can subscribe to their services via the company website, either paying monthly or annually. Sparketh currently offers a 60% discount for new subscribers.
Read what happened to Sparketh’s worth and net worth update in brief here.
Sparketh Net Worth
| Net worth | $2 million (2024) |
| Annual Sales Revenue | $500,000 (2021) |
| Profits | Not disclosed |
| Lifetime sales | Not disclosed |
| Investors | Barbara Cocoran and Daniel Lubetzky |
| Founders | Dwayne Walker and Tim Samuel |
| Employees | <25 |
As of 2024, Sparketh’s net worth is $2 million.
Sparketh sales and revenue
Sparketh started operations in 2015, and the company has had a relatively slow but steady growth since its beginning. In 2019, the company’s sales declined to $75,000 from $110,000. However, they came back to the track, boosting sales. In 2020, the company sales increased again to $300,000 and $500,000 in 2021. The information on the company’s current revenue is not disclosed.
Net worth timeline
| Net Worth 2024 | $2 million |
| Net Worth 2023 | $1.25 million |
| Net Worth 2022 | $1 million |
| Net worth valuation in 2021 after appearing on Shark Tank | $500,000 |
| Net worth valuation in 2021 before appearing on Shark Tank | $1.25 million |
How much did Barbara Cocoran and Daniel Lubetzky make from Sparketh?
Barbara and Daniel were impressed with the enthusiasm and ambitious nature of Dwayne and Tim. Therefore, they offered a deal agreed upon the condition of showing profit within six months. Joining for an interview, Barbara mentioned that “I was hooked on Tim and Dwayne from the get-go! I was looking for any reason to invest in these two entrepreneurs.” Although Investors seem to be positive, there is no clear information on what happened to the deal after the show or how much the investors made.
Competitors of the Sparketh?
Sparketh has a number of competitors similar to them. Some of them are Cambium Learning, Brilliant, Abwaab, Ermitage Art Academy, Pasadena Atelier, Thrive Art, and Arts Attack.
Don’t miss these products from Season 13
Sparketh Shark Tank Update
| Company name | Sparketh |
| Product | Online art education platform for kids and teens |
| Episode | Season 13 Episode 3 |
| Founders | Dwayne Walker and Tim Samuel |
| Asked for | $100,000 for 8% equity |
| Final deal | $100,000 for 20% equity, with a 6-month contingency deal. |
| Sharks | Barbara Cocoran and Daniel Lubetzky |
| Location | Tucker, Georgia |
The appearance of Shark Tank allowed Sparketh to make progress in its business. Although much is not available about the deal after the show, the company continued to operate well. After the show, the company had a surge in its social media reach, with 18,000 followers on Instagram. Moreover, following their pitch, Sparketh teamed up with schools, art supply companies, and other educational platforms, expanding its customer base.
About Sparketh
Sparketh is an online art education platform created for kids and teens aged 6 to 18 years. Sparketh functions as an app that you can download and subscribe to through the company website. The monthly payment for the subscription is $25, and theannual payment is $250. Sparketh subscription offers various drawing courses that fit different age groups to enhance their creativity. This platform also provides the opportunity for their learners to share their work with others.
Sparketh Founders
Dwayne Walker and Tim Samuel are the team behind Sparketh. They are school friends who became entrepreneurs thanks to their passion and dedication. Dwayne was a talented artist from a young age and did a graphic design job after school. On the other hand, Tim had a keen passion for videography and film editing. Merging their interests, Dwayne and Tim wanted to build their own business, a platform where they could provide art education for kids and teenagers. The pair have been developing their business idea since 2014. Despite challenges they faced throughout their entrepreneurial journey they achieved to launch Sparketh in 2015.
FAQs
As of 2024, the company’s net worth is $2 million.
As of 2021, the company generated $500,000 in annual revenue.
Yes, the company made a deal with Barbara Cocoran and Daniel Lubetzky for $100,000 for 20% equity, with a 6-month contingency deal.
Yes, according to available information, Sparketh is active in business.
Subscriptions can be selected from $25-$250.
