Jamie and David Montz created The Original Stretchlace to turn regular shoes into slip-ons with elastic laces. They pitched this idea on Shark Tank in 2020 and secured a deal with Robert Herjavec for $100,000 in exchange for 30% equity.
However, the deal did not go through. Despite this, their appearance led to rapid growth, increasing sales from $80,000 to $500,000 shortly after the show. Therefore, The Original Stretchlace expanded its market presence, with products now available on Amazon, Walmart, and their website, reaching a valuation of around $1 million in 2024.
The Original Stretchlace Net Worth
| Estimated Net worth | $1 Million (2024) |
| Annual Sales Revenue | $500,000 (2023) |
| Profits | – |
| Lifetime sales | – |
| Investor | – |
| Founder | Jamie Montz and David Montz |
| Employees | 10 |
The Original Stretchlace Pitch on Shark Tank
| Company name | The Original Stretchlace |
| Product | Shoelaces that switch your shoes from laced to slip-ons |
| Episode | Season 12 Episode 24 |
| Founder | Jamie Montz and David Montz |
| Asked for | $100,000 for 15% equity |
| Final deal | $100,000 for 30% equity |
| Shark / Sharks | Robert Herjavec |
| Location | Boise, Idaho, US |
Don’t miss these product from Season 12
The Original Stretchlace Founders
The Original Stretchlace was founded by Jamie Montz and David Montz in 2015. Jamie and David Montz are passionate about making their product accessible to everyone. They offer a variety of shoelace colors and styles to choose from, and they also offer a discount program for people with disabilities.
The Original Stretch Laces founders, Jamie Montz and David Montz’s net worth is unavailable. However, according to the deal of the Shark Tank pitch, he had 70% equity in the company. Therefore Elly Gheno should have more than ($700,00 net worth as of 2024.
Key accomplishments
| Year | Accomplishment |
| 2021 | Appeared on Shark Tank season 12 and Robert Herjavec invested $100,000 for 30% equity |
| 2022 | The Original Stretchlace expands its product line to include new shoelace colors and styles. |
| 2024 | The Original Stretchlace continues to grow its customer base and expand its reach into new markets. |
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 The Original Stretchlace and its continued success.