Vestpakz, a Backpack vest for kids, was started by Arthur Grayer and Michael Wooley in 1999. Vestpakz’s net worth was $500,000 at the time of their pitch in 2015 based on the $50,000 offer for 10% of the equity of the company.
They appeared on Season 6 of Shark Tank USA in 2015. However, the Sharks were not interested in investing in Vestpakz. Sharks didn’t make a deal because consumer interest wasn’t there.
Vestpakz is no longer in business. Their products are not available on the market.
Vestpakz Net Worth
| Net worth | $500,000 (Business Valuation) |
| Lifetime sales | – |
| Investor | – |
| Founders | Arthur Grayer and Michael Wooley |
Vestpakz Net Worth Timeline
| Net Worth 2023 | Out Of Business |
| Net worth valuation in 2015 before appearing on Shark Tank | $500,000 |
Vestpakz Pitch on Shark Tank
| Company name | Vestpakz |
| Product | Backpack vests for kids |
| Episode | Season 06 Episode 14 |
| Founders | Michael Woolley and Arthur Grayer |
| Asked for | $50,000 for 10% |
| Final deal | No deal |
| Sharks | None |
| Location | USA |
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Vestpakz Founders
Vestpakz was founded by Michael Woolley and Arthur Grayer in 1999. Wooly got the idea from a 6th-grade science project. They are very passionate about their business. Vestpakz’s founders, Michael Woolley and Arthur Grayer’s net worth are unknown as of 2023.
Key accomplishments
| Year | Accomplishment |
| 2015 | Vestpakz was featured on Shark Tank |
Conclusion
Some companies that appear on the show have not achieved great success, and the Vestpakz was one of them. Sometimes businesses don’t succeed for many reasons. Sometimes, the deal falls through after the founders say yes on camera. Or, as you’ll see, sometimes things happen to the founders themselves, and they choose to abandon the business. Anything is possible. However, Vestpakz went out of business. The company shutdown date is unknown, And the product is no longer available in the market.