Dancers Kaycee Jones and Brianne Zborowski are no strangers to the agony of a foot injury. They created Apolla Performance socks in an effort to spare other dancers from experiencing the same suffering. Because they provide compression and support where it’s essential, these sock designs are exceptional. In Season 13 Kaycee and Brianne presented their concept to Shark Tank.
They were hoping for an investment that would enable them to expand their company. They requested $300,000 for 15% of their business in their proposal. Although the invention impressed the Sharks, several of them had reservations about the socks’ high cost. Will the entrepreneur get a deal on Shark Tank? Check out our Apolla Update to find out!
apolla net worth 2024
Kaycee Jones and Brianne Zborowski asked for a $300k investment in exchange for 15% equity in their company. This meant they valued their company at $2 million. They made a deal with Lori for $300k in exchange for 20% of their company. This new deal valued their company at $1.5 million.
After the show aired, Apolla Performance 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 Apolla Performance in 2024 is about $2.2 million.
Apolla Shark Tank Update
In terms of an Apolla update, Apolla Performance socks gained additional popularity following their appearance on Shark Tank. Soon after the show aired, the majority of the styles were sold out. The business is still expanding today and in 2024 it will still be operating successfully. Apolla now offers a wider range of products than mere socks.
These days they offer compression items, dancer footwear, and accessories to everyone not just dancers. Online retailers such as Amazon and specialized shops all around the nation carry Apolla socks. The American Podiatric Medical Association has recognized the company for assisting in the reduction of foot injuries and suffering.
Yes, on Shark Tank, Kaycee and Brianne were able to close a deal. The only other Shark to make an offer was Lori Greiner. She made a $300,000 bid for 25% of the business. The business owners responded with 20% because they desired to retain more stock.
Lori finally agreed to the proposal for 20% of the company after some back and forth. Apolla was able to expand thanks to this funding and their collaboration with Lori has been very successful.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Emma Grede (Guest Shark) | Out | N/A | N/A |
| Lori Greiner | $300,000 for 25% equity | $300,000 for 20% equity | yes |
| Kevin O’Leary | Out | N/A | N/A |
| Robert Herjavec | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Apolla Shark Tank Pitch
In our Apolla update research, Apolla Performance was founded by dancers Kaycee and Brianne who both had foot problems. They sought to develop a product that would be helpful because they were aware of the physical suffering that dancers endure. Their goal was to keep feet injury-free while still enabling dancers to give their finest performances.
which led them to design compression socks with inbuilt comfort pads. One of the first things Kaycee and Brianne had to deal with was explaining to people why these socks were different from ordinary socks. Building a devoted consumer base and getting their product into retailers required a lot of work on their part.
Brianne and Kaycee were bursting with enthusiasm and self-assurance as they entered the Shark Tank. They demonstrated their supportive compression socks to the Sharks and discussed how the socks can ease the pain experienced by dancers and those with foot issues.
They informed the Sharks that their business had generated $800,000 in sales in the previous year in addition to $4.1 million in sales thus far. They requested 15% of their company in return for $300,000. The Sharks loved the product but some thought the socks were too pricey. The majority of pairs are more expensive than standard socks, ranging from $32 to $40.
Kaycee and Brianne got a lot of questions from the Sharks. They were curious as to why the socks were so expensive and if anyone would actually pay that amount. Both Mark Cuban and Kevin O’Leary expressed concern about the high retail price and the lack of demand for them.
Although Robert Herjavec thought the product was good, he couldn’t figure out why it hadn’t gone viral yet. Emma Grede wasn’t satisfied with the company’s present growth rate and wanted it to happen sooner.
The first Shark to withdraw was Kevin O’Leary, who said the socks weren’t worth the money. Mark Cuban who had dance experience followed behind. Because he didn’t envision the product becoming viral quickly enough. Robert Herjavec also left the company.
Emma Grede believed that the company was not progressing quickly enough for her to invest in and she desired faster growth. Lori Greiner who adored the socks and believed they had a lot of potential was left. She made a $300,000 bid for 25% of the business. After considerable negotiating, Lori accepted Kaycee and Brianne’s counteroffer of 20%.
What Went Wrong With The Apolla On Shark Tank?
Despite landing an agreement, Apolla Performance was met with resistance from numerous Sharks regarding the product. Kevin O’Leary and Mark Cuban weren’t sure the high price of the socks was going to enable the company to survive.
Robert Herjavec thought the product was good though he didn’t understand why it wasn’t already becoming viral outside of the dancing world. Emma Grede didn’t think the company was growing at the correct rate for her to invest in she wanted to see it develop quicker. However, Lori Greiner struck a contract because she thought the product had potential.
Product Availability
Although Apolla Performance socks are made with dancers in mind, anyone with foot problems or injuries can benefit greatly from them. Compression and support are provided by the socks to lessen discomfort and stop injuries. To increase their effectiveness even further they have unique comfort pads in strategic locations.
Apolla socks are available for purchase on the company website, Amazon, and specialty dancewear retailers. The socks are more costly than standard socks. Costing between $32 and $40 for each pair. But because they relieve pain, a lot of clients claim they are worth the cost.
Conclusion
Apolla Performance’s Shark Tank journey is a triumphant tale. Arriving at the show with a fantastic product, Kaycee and Brianne exited with a deal from Lori Greiner. Dancers and others are avoiding foot pain because of these socks and the company is expanding annually.
Apolla is a company that keeps changing the world with its new product line and accreditation from the American Podiatric Medical Association. Apolla Performance is expected to continue growing and introducing new breakthroughs in the future. This is just the start of their adventure.
Hi, I’m Laiba Khurram, a BBA student specializing in Marketing at FAST NUCES ISB. My background includes experience in finance, marketing, and event coordination. My skills include teamwork, time management, and Microsoft tools. Watching Shark Tank has always inspired me, as I admire the innovative pitches and entrepreneurial spirit showcased on the show. This passion drives my approach to finding creative solutions and understanding market dynamics. Read more About me.
