Songlorious Net Worth 2024 Shark Tank Update
Songlorious’s net worth is $3 million as of February 2024. The company generates $2.9 million in annual revenue. In October 2021, they appeared on Season 13 of Shark Tank USA and made a deal with Mark Cuban, Kevin O’Leary, Daymond John, and Peter Jones for $500,000 for 40% equity. The final valuation was $1.25 million, down from the founder’s initial estimate of $4 million.
Mark, Kevin, Daymond, and Peter made a joint investment of $500,000. There is no precise information regarding how much each shark made through Songlorious. However, available data indicates that the company keeps growing at a good pace and has multiple revenue streams. Songlorious had a substantial growth in the market following their pitch. The company has onboarded 150+ professional music artists and produced 11,000+ custom songs up to date. You can make your custom song by visiting their website.
Read what happened to Songlorious worth and net worth update in brief here.
Songlorious Net Worth
| Net worth | $3 million (2024) |
| Annual Sales Revenue | $2.9 million (2024) |
| Profits | Not disclosed |
| Lifetime sales | $1.1 million (2021) |
| Investors | Mark Cuban, Kevin O’Leary, Daymond John, and Peter Jones |
| Founders | Ellen Hodges and Omayya Atout |
| Employees | 11-50 |
As of February 2024, Songlorious’s net worth is $3 million.
Songlorious sales and revenue
The company had a notable boost in its sales and revenue after a successful pitch. Company sales were $700,000 in 2020 and $1.1 million in 2021. Only a few years after the show, sales increased to $2.9 million. The show gave this business more exposure, and they’ve been featured in several business magazines, including Business Insider and Forbes. The visibility helped Songlorious to expand its revenue streams.
Net worth timeline
| Net Worth 2024 | $3 million |
| Net Worth 2023 | $3 million |
| Net Worth 2022 | $2.5 million |
| Net Worth 2021 | $1.1 million |
| Net worth valuation in 2021 after appearing on Shark Tank | $1.25 million |
| Net worth valuation in 2021 before appearing on Shark Tank | $4 million |
How much did Mark Cuban, Kevin O’Leary, Daymond John, and Peter Jones make from Songlorious?
There is no accurate information on how much each shark made from their $500,000 investment for 40% equity of Songlorious. However, by looking at the fiscal figures of the company and positive customer feedback, it appears that Sharks has profited reasonably well.
Competitors of the Songlorious?
Custom songs are one of the best gifts one can dedicate to their loved ones. Indeed, this has become a competitive business field, and Songlorious has several competitors. Some of the alternatives and top competitors of this company are Song Finch, Bring My Song to Life, Tune River, Songly, Mereedhun, Customserenade, and Romance-Outsourced.
Don’t miss these product from Season 13
Songlorious Shark Tank Update
| Company name | Songlorious |
| Product | A custom song-making company |
| Episode | Season 13 Episode 02 |
| Founders | Ellen Hodges and Omayya Atout |
| Asked for | $400,000 for 10% equity |
| Final deal | $500,000 for 40% equity |
| Sharks | Mark Cuban, Kevin O’Leary, Daymond John, and Peter Jones |
| Location | Chattanooga, Tennessee |
The show was incredibly helpful for Songlorious to elevate their business. With the deal they made, the owners could take business to new heights. Joining for an interview with Forbes, owners have stated, “We wound up accepting a joint offer from four of the five Sharks on the episode – Mark Cuban, Daymond John, Kevin O’Leary, and guest Shark Peter Jones. For us, it’s a dream team”.
About Songlorious
Songlorious is a custom song-creating company. From genre to story behind the song, everything is customizable. Therefore, it gives customers a chance to create their own songs as per their requirements. Prices of these custom songs vary according to customer requirements. Prices start from $45 for an acoustic 30-second song all the way up to $200+ for a fully-produced three-minute song. The company works with professional musicians, ensuring customers get a quality musical experience for what they pay.
Songlorious Founders
Ellen Hodges and Omayya Atout are the main team players behind Songlorious. This husband-wife duo was pursuing different career fields, but they always had a passion for music. They loved listening to music as well as singing and writing songs. During the time of the pandemic, staying indoors in lockdown, the couple came up with the idea of Songlorious.
FAQs
As of 2024, the company generated $2.9 million in annual revenue.
As of 2024, the company’s net worth is $3 million.
Yes, the company secured a deal of $500,000 for 40% equity with Mark Cuban, Kevin O’Leary, Daymond John, and Peter Jones.
You can choose price ranges from $45- $200+ budgets in Songlorious. But if the customer decides to select their artist, they have to pay an extra $20, and if not, Songlorious helps them by choosing an artist according to their requirements.
Yes, it is actively running the business.
