It began with a thud in the night.
Lou Rice, half-asleep while breastfeeding her newborn and reading on a Kindle, dropped the device, accidentally bonking her baby’s head. That moment of frustration led to an idea that would not only solve a common e-reader pain point but also captivate millions around the globe.
Enter Strapsicle, the stylish, one-handed Kindle accessory designed to prevent drops, cramps, and awkward reading positions. What started as a DIY fix evolved into a multimillion-dollar business, powered by TikTok, Amazon, and the kind of hustle only real entrepreneurs understand.
In just three years, Strapsicle leaped from a handmade prototype to securing a $250,000 Shark Tank deal, and now it’s on track to become a household name for Kindle lovers. But how much is Strapsicle really worth in 2025? And did the Sharks make a smart investment?
Let’s dive into this high-stakes pitch, post-Tank growth, and whether this Aussie innovation is living up to its global hype.
Who’s Behind Strapsicle?
Strapsicle was co-founded by Australian couple Lou Rice and Ben Stainlay, both of whom brought complementary skills to the table.
Ben, with a background in product development, was the one who first created the prototype using an old silicone mat and staples. Lou, a seasoned digital marketer and storyteller, saw the potential for the brand to explode on social media, especially in the BookTok community.
“I fell into the world of BookTok… I spent a hell of a lot of time in people’s inboxes saying, ‘Hey, can I give you a product?’” Lou recalled. That grassroots hustle turned into an influencer-powered wildfire.
Their relationship as both business and life partners adds a layer of trust and quick decision-making. And while their exact personal net worths are private, their equity in Strapsicle, currently valued in the millions, has likely turned them into self-made success stories.
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The Shark Tank Pitch: High Stakes in the Tank
Lou and Ben came onto Shark Tank Australia Season 6, asking for $250,000 AUD for a 10% stake, putting their valuation at $2.5 million.
What immediately impressed the Sharks was their revenue:
- $200,000 in the first year
- $1.5 million in the second year
- $375,000 in profits in year two
Lou confidently pitched their e-reader strap accessory with flair and humor:
“It was 3:00 a.m. I nodded off and dunk, the Kindle whacked [my baby] on the head… he’s fine by the way!”
Robert Herjavec and Davie Fogarty were especially interested. Robert commented, “This makes me hate all my other investments,” while Fogarty was intrigued by the product’s simplicity and virality.
After a tense round of bidding, Lou and Ben struck a deal:
$250,000 for 22.5% equity, split between Davie Fogarty and Robert Herjavec.
As Lou said post-deal, “We really wanted Davie, and getting Robert too, it was the dream combo.”
Did the Sharks’ Investment Pay Off? Inside Strapsicle’s Post-Tank Boom
Since appearing on Shark Tank, Strapsicle has seen impressive growth:
- $1.7 million in total revenue to date
- Sales expanded internationally, especially through Amazon US
- Supported by a passionate BookTok and TikTok fanbase
- Retail partnerships and limited edition designs launched
One major growth hack? Collaborating with popular authors for limited-edition straps, encouraging repeat buyers. “We’re approaching authors that have huge cult followings,” Lou explained. “We’d love to do collectible designs”.
Their return customer rate is already at 12%, with plans to boost it further through licensing and custom offerings. With nearly 1 billion e-readers globally, their potential market is massive.
“We’re now helping hundreds of thousands of people read in comfort,” Lou proudly stated.
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Was This the Sharks’ Best Deal Yet? Breaking Down the Profits
The Sharks’ 22.5% stake, split evenly, gives each an 11.25% share in Strapsicle. Based on the projected 2025 valuation of $3–5 million AUD, that’s potentially worth $337,500–$562,500 for each Shark, more than doubling their investment in under two years.
For comparison, this rivals some of Shark Tank’s biggest wins:
- Bombas (Lori Greiner): $375 million+ in lifetime sales
- The Scrub Daddy: $300 million+ in revenue
While Strapsicle hasn’t hit those numbers yet, its lean product model and global scalability could set it up for long-term profitability.
As Fogarty commented, “This could be a recurring revenue machine if we nail the limited editions and partnerships.”
Quick Shark Tank Update on Strapsicle
- Annual Sales: Over $1.5 million in the second year; cumulative revenue of $1.7 million since inception.
- Product Line: Kindle and e-reader straps designed to enhance comfort and prevent device drops.
- Current Distribution: Available internationally, with significant traction on Amazon and support from the BookTok community.
- Major Milestones: Expanded into the U.S. market, secured retail partnerships, and cultivated a loyal global fan base.
Strapsicle Reviews: What Are Customers Saying?
Most users praise Strapsicle for its grip, comfort, and aesthetic. It’s especially beloved by Kindle readers who suffer from wrist fatigue or read one-handed.
However, some feedback includes:
- Limited compatibility with non-standard e-readers
- Elastic stretch wears out over time with frequent use
- Higher price point compared to traditional Kindle covers
Despite this, its ratings on platforms like Amazon and Shopify remain high, typically 4.5 stars or above, with repeat customers driving growth.
How Much Did the Sharks Earn from Strapsicle?
As of early 2025, neither Shark has cashed out, meaning no realized earnings yet. But if the company continues on its current growth curve, each Shark could easily triple or quadruple their investment.
Assuming a conservative future valuation of $6 million, their 11.25% share would equal $675,000, not including dividends or licensing revenue.
RELATED: HOW MUCH DO THE SHARKS MAKE PER EPISODE?
Investor Insights: Davie Fogarty & Robert Herjavec’s Other Investments
Both Sharks bring powerful portfolios:
Davie Fogarty
- Founder of The Oodie (worth over $500M AUD)
- Invested in Dunk Island and multiple lifestyle brands
- Focuses on direct-to-consumer brands with viral potential
Robert Herjavec
- Known for deals like Tipsy Elves and Aura Bora
- Strong in digital marketing, cybersecurity, and U.S. retail expansion
- Adds global reach and business infrastructure to the mix
Together, they make a formidable team for Strapsicle’s continued scaling.
Strapsicle Net Worth in 2025
Estimated Net Worth: $3–5 million AUD
Strapsicle’s net worth reflects smart product-market fit, viral social strategy, and a booming e-reader accessory market. It’s a textbook example of how solving a small, specific problem, dropping a Kindle, can lead to a big, global opportunity.
By turning a parental mishap into a multimillion-dollar solution, Lou and Ben didn’t just create a product. They created a movement for comfortable reading, one strap at a time.
And for fans of Shark Tank, this might just be one of the smartest investments the show has ever seen.
Closing Remarks
Strapsicle’s journey, from a humble silicone strap prototype to a Shark Tank-backed brand, is a powerful example of how a simple idea can transform into a global phenomenon.
Lou and Ben’s commitment to community-building, preparation, and strategic use of sales channels like Amazon has been key to their success.
With continued growth on the horizon, they’re poised to redefine how people experience e-readers globally.
“We absolutely live for all the wonderful comments and feedback we get from our incredible Strapsicle community,” Lou shared.
As they move forward, Lou and Ben’s mission remains clear: to make reading comfortable for everyone. Stay tuned to see how Strapsicle’s journey continues to unfold!
We’re closely following the company to bring you valuable insights. Stay tuned for the latest updates on Strapsicle!
TL;DR
Strapsicle’s Net Worth in 2025 is estimated at $4 million, thanks to a viral product, a smart Shark Tank deal, and global growth. With a $250K investment from Davie Fogarty and Robert Herjavec, the business is thriving and scaling fast.
