Xero Shoes Net Worth 2023 Update (Before & After Shark Tank)

"Xero Shoes’" Net Worth 2023 Update

Xero Shoes is a footwear company specializing in minimal barefoot sandals and shoes. This was started by Steven Sashen and Lena Phoenix in 2009. As of October 2023, Xero Shoes’s net worth is around $20 million. They’re pulling in a whopping $23 million in annual revenue. 

In 2009, they appeared on Season 4 of Shark Tank USA, seeking $400,000 for 8% of equity, valuing the company at $5 million. Kevin O’Leary offered $40,000 for 50% of equity, but owners did not accept Kevin’s deal. 

Xero Shoes has been in business for almost 15 years and has witnessed exceptional growth over time. Although not securing a deal, Xero Shoes thrived after its Shark Tank pitch. In fact, Xero Shoes is recognized as one of America’s fastest-growing companies. You can purchase their products through the company website and Amazon. They have several physical stores across as well as outside the USA.

Xero Shoes Net Worth

Net worth$20 million (2023)
Annual Sales Revenue$23 million (2023)
Profits
Lifetime sales
Investor
FoundersSteven Sashen and Lena Phoenix
Employees50-60

Xero Shoes Net Worth Timeline

Net Worth 2023$20 million
Net Worth 2022$13.5 million
Net Worth 2021$13 million
Net Worth 2020$12.5 million
Net worth valuation in 2013 before appearing on Shark Tank  $5 million (business valuation)

Xero Shoes Pitch on Shark Tank

Company nameXero Shoes
ProductMinimal barefoot sandals and shoes
EpisodeSeason 04 Episode 14
Founders Steven Sashen and Lena Phoenix
Asked for$400,000 for 8% equity
Final dealNo deal 
Shark No shark
LocationBroomfield, Colorado 

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Xero Shoes Founders

Xero Shoes was founded by Steven Sashen and Lena Phoenix in 2009. Steven is a Business personality, a famous American gymnast, and a stand-up comedian. Steve came up with the initial idea of Xero Shoes and established Boulder Barefoot Running Club. Stevan’s wife, Lena, is also a diverse character and a great entrepreneur. Her first business started in 1989, a mortgage firm. Xero Shoes’s founders, Steven Sashen and Lena Phoenix, have a net worth of around $ 17 million USD as of 2023.

Key accomplishments

YearAccomplishment
2013The company was featured on Shark Tank and received over 3000 orders shortly after their episode aired
2020Xero Shoes entered a strategic partnership with the TZP group, allowing them to expand their products and markets
2021Xero Shoes sponsored the USA Synchronized Swimming Team and Archery Team at the Tokyo Olympics

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 Xero Shoes and its continued success.