Ade + Ayo Shark Tank Update – Ade + Ayo Net Worth 2024 

Temidayo and Abisola Adedokun observed a significant issue in the market for kids’ clothes. A lot of African prints were either too costly or not real. As parents, they want a connection between their African background and their kids. Nonetheless, they had trouble locating clothing that accurately reflected their culture. 

They made the decision to form Ade + Ayo at that point. Their mission was to create soft, machine-washable clothing with authentic African patterns that would be within the means of all families. Temidayo and Abisola pitched their startup, Ade + Ayo, on Season 13 of Shark Tank. They wanted to buy 10% of their business for $175,000. The quality of their merchandise impressed the sharks. Will the entrepreneur get a deal on Shark Tank? Check out our  Ade + Ayo update to find out!

Ade + Ayo Net Worth 2024

Temidayo and Abisola Adedokun asked for a $175k investment in exchange for 10% equity in their company, Ade + Ayo. This meant they valued their company at $1.75 million. They made a deal with Barbara Corcoran for $175,000 in exchange for 10% equity. After the show aired, Ade + Ayo saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Ade + Ayo in 2024 is about $2.8 million.

Ade + Ayo shark tank Update 

In terms of an Ade + Ayo update, Ade + Ayo’s business grew and expanded even after their Shark Tank debut. The corporation is still operating in 2024 and has added a large number of new products to its portfolio. Ade + Ayo first concentrated on apparel for kids. These days, they provide nursery supplies, and accessories like baskets and toys and even coordinate family attire. 

These items are all made with exquisite African prints. The company’s objective to highlight African culture has connected with many customers. They offer their products for sale online and donate a portion of their earnings to help fund education in sub-Saharan Africa. Happy consumers have left almost 700 five-star evaluations on their website. Their gorgeous patterns and high-quality items have received a lot of appreciation.

Ade and Ayo did indeed close a deal on Shark Tank. They were seeking 175k for 10% of their business. The only other shark who made an offer was Barbara Corcoran. She proposed a $500,000 line of credit in exchange for 33.3% of the company’s stock, or $200000. Following some haggling, Temidayo and Abisola decided to accept Barbara’s offer of $175000 in exchange for 10% stock. They were able to reach a wider audience and grow their business thanks to this partnership.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Barbara Corcoran	$175,000 for 33.3% equity and a $500,000 line of credit to help them scale their business	#1 $200,000 for 30% equity and the same $500,000 line of credit #2 $200,000 for 33.3% equity and a $500,000 line of credit to help them scale their business	yes to #2 offer
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Daymond John	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Ade + Ayo Shark Tank Pitch

In our  Ade + Ayo update research, Temidayo and Abisola Adedokun wanted their kids to be proud of their African roots, which is why they founded Ade + Ayo. They discovered that many of the African clothes they looked at were either excessively costly or not very authentic. They realized that this was probably a problem that other families had. They therefore set out to design a clothing brand featuring authentic African designs in order to address this problem.

Their goal was to provide fashionable, reasonably priced apparel that authentically reflected African culture. During the initial phases, they encountered many obstacles. Finding the appropriate material was challenging. They had to make sure the materials were easy to wash, supple, and comfy for kids. One more difficulty was expanding the company on a tight budget.

Ade + Ayo was passionately presented on Shark Tank by Temidayo and Abisola. They gave an explanation of how their goal is to use apparel to help kids connect with African culture. Not only were their items exquisite, but they were also functional. They emphasized how the apparel was made for daily wear and was softly washable. Ade + Ayo achieved $160000 in sales after just 11 months of operation.

demonstrating that there was a high demand for their items initially. Their pitch was clear-cut and uncomplicated. They requested $175,000 from the sharks in return for 10% of their business. They desired the money to enable them to expand their customer base and boost their company. The vivid colors and high quality of the textiles instantly made an impression on the sharks.

The sharks had lots of questions and worries regarding the company, just like they would with any pitch. They were interested in learning more about Ade + Ayo’s prospects for expansion as well as their plans for business scaling. Daymond John was very curious to find out how they intended to expand the brand because he has experience in the apparel sector. He questioned how they planned to grow without sacrificing quality. 

How much of their items were created internally and how they handled production were questions that other sharks wanted to know. Their present valuation was likewise a topic of discussion. Given their sales figures, the sharks questioned whether the company’s valuation was reasonable. The sharks were enthralled with the product, but they weren’t convinced that the company was prepared to expand to the required extent.

As the pitch went on, a number of sharks started to withdraw. The first person to pass on the proposal was Kevin O’Leary. Even though he appreciated the product, he acknowledged that he didn’t think he could bring much to the company. Mark Cuban followed closely behind. He chose to pass as well explaining that clothes were outside of his area of expertise. 

Although Lori Greiner thought the idea was great she was worried about the creators’ intended use of the funds. She believed that if she had collaborated with them, their financial goals would not have been in line with her own. Ade + Ayo caught Daymond John’s interest. but he was skeptical about the valuation. He admired the goal and the product but in the end, he thought that the risk was too much.

What Went Wrong With Ade + Ayo On Shark Tank?

While Ade + Ayo ultimately obtained the deal. But their journey was not without its hurdles. The company’s potential for development worried the sharks, who rejected the purchase. Due to their inexperience in the apparel industry, Kevin O’Leary and Mark Cuban believed they could not provide much value to the company. 

Lori Greiner took issue with the founders’ intended use of the investment funds. Even though Daymond John was thrilled with the concept he was hesitant to invest because of the high value. The sharks’ primary concern was the company’s valuation. Despite Ade + Ayo’s promise, they believed the company was not yet at a place where the founders’ suggested valuation could be justified.

Product Availability

Ade + Ayo’s products may all be bought online by visiting their website. Customers have left the business with almost 700 five-star evaluations. complimenting the products’ quality and style. The website is user-friendly and provides a range of products for families and kids. Their competitive prices enable a broad customer base to purchase their items.

Conclusion 

Since making an appearance on Shark Tank, the business has developed and added more products to its lineup. They no longer only sell their kids’ clothes. they are also selling toys, accessories, and family ensembles. They were able to expand their customer base and grow their business thanks to the agreement they reached with Barbara Corcoran. 

Ade + Ayo is still operating in 2024 and is still getting positive feedback from satisfied clients. Additionally, the business has pledged to give back by designating a portion of its earnings to fund sub-Saharan African education. Ade + Ayo is a company with a promising future, and it will be interesting to watch how they develop and influence society in the years to come.