When Krish Himmatramka founded Do Amore, he had a grand vision. His goal was to market excellent engagement rings that benefit society as a whole in addition to making people happy. He believed that unethical diamond sourcing presented an issue. Some diamonds originate from unjustly treated regions. Krish desired to alter that.
He made the decision to only employ recyclable materials and diamonds that were obtained ethically. That wasn’t all though. He also ensured that every ring purchased would contribute to the construction of a well. The world’s poor would have access to clean water thanks to this well. In Season 13 Krish went to Shark Tank and requested $600,000 in order to expand his company. Will the entrepreneur get a deal on Shark Tank? Check out our Do Amore update to find out!
do amore net worth 2024
Krish Himmatramka asked for a $600k investment in exchange for 6% equity in his company. This meant he valued his company at $10 million. He made a deal with Daniel Lubetzky for $600k in exchange for 15% of his company. This new deal valued his company at $4 million.
After the show aired, Do Amore 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 Do Amore in 2024 is about $5.85 million.
Do Amore Shark Tank Update
In terms of a Do Amore update, following its appearance on Shark Tank, Do Amore kept expanding. By 2022, the company’s sales had increased to $12 million. The company was able to assist even more people as a result of its success. By 2023’s end Do Amore had constructed sixty wells. Over 16,000 individuals received safe drinking water via these wells. The business didn’t end there.
More items including necklaces, earrings, and other jewelry were added by Do Amore. Utilizing used materials and providing aid to those in need remained their shared mission. Consumers adore the jewelry’s quality and mission. Those who were satisfied with their purchases left the company with numerous five-star ratings. Do Amore is still operating and expanding as of 2024.
Krish did, in fact, land a deal on Shark Tank. He first requested $600,000 in exchange for 6% ownership of his business. This indicates that he wanted $600,000 in return for granting the sharks a 6% stake in Do Amore. The sharks viewed the idea differently. He was given the same $600,000 for 6% equity by Kevin O’Leary, but there was a catch.
Up until he recovered $1.8 million Kevin hoped to make $100 on each transaction. Krish declined this offer. Then another shark Daniel Lubetzky entered the picture with an offer. His offer was $600,000 but he demanded 15% ownership. Daniel objected to Krish’s suggestion to reduce the proportion to 12%. Ultimately Krish agreed to take 15% shares in exchange for Daniel’s $600,000 offer.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Daniel Lubetzky | $600,000 for 15% equity | $600,000 for 12% equity | Yes |
| Lori Greiner | Out | N/A | N/A |
| Kevin O’Leary | $600,000 for 6% equity, $100 per transaction until he recouped $1.8 million | $600,000 for 10% equity | N/A |
| Barbara Corcoran | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Do Amore Shark Tank pitch
In our Do Amore update research, Krish Himmatramka set off on his adventure driven by a desire to change the world. The fact that many diamonds originate from regions where people are subjected to harsh treatment troubled him. There had to be a better approach he felt. In order to offer diamonds that are sourced responsibly, he founded Do Amore. In order to create the rings he also used repurposed metal.
Krish aimed to ensure that his business assisted others in addition to offering exquisite jewels. At that point, he made the decision to provide clean water to those in greatest need. A well would be dug in a neighborhood without access to potable water for each ring that was sold. But like many business owners, Krish had difficulties at first. With just $18,000 he launched the company. Keep reading our Do Amore update to find out what happened next!
Krish made an emphatic and convincing case when he appeared on Shark Tank. He told the sharks what he saw for Do Amore. He described how his business uses recycled metal and diamonds that are acquired responsibly to create engagement rings. He went on to describe the goal of digging wells for each purchase.
The sharks were intrigued by his passion and approved of the concept. Krish requested $600,000 for a 6% stake in his business. He clarified that the funds would enable him to expand the company and reach a wider audience. The sharks probed to learn more about his company. Some supported the objective but others expressed worries about the company’s prospects.
Krish’s business plan and merchandise were the subject of numerous questions from the sharks. They were interested in finding out whether individuals would pay extra for ethical jewelry and whether the engagement rings were reasonably priced. They were also interested in learning how Krish used the money he earned from selling rings to construct wells.
A few sharks questioned whether rivals could just steal his company’s concept. They also questioned the sales and total revenue of the business. In response to all of their questions, Krish revealed that Do Amore had already generated $8.3 million in revenue in the previous year. He stated that by the end of that year, they planned to have made over $11 million.
Some sharks chose not to make an offer after hearing Krish’s pitch, while others did. The first to announce his departure was Daniel Lubetzky who felt that the jewellery industry was outside of his area of competence. Mark Cuban also failed, claiming that rivals could too easily replicate the company’s model.
Barbara Corcoran claimed that because she wasn’t really interested in jewels. She wasn’t the best candidate for this deal. She added that neither of her spouses gave her an engagement ring. But Kevin O’Leary made a proposal.
In exchange for 6% ownership, he promised $600,000 but he had a catch. Up until he received $1.8 million back he wanted $100 from each transaction. Krish felt that this was a bad deal. After leaving, everyone was taken aback when Daniel Lubetzky returned with an offer. For 15% stock, he made an offer of $600,000. Daniel rejected Krish’s request for a 12% stake after he tried to bargain. Following negotiations, Krish agreed to Daniel’s offer of $600,000 in exchange for 15% stock, and the purchase was completed.
What Went Wrong With Do Amore On Shark Tank?
Krish’s offer was rejected by a few sharks for various reasons. Barbara Corcoran, Mark Cuban, and Daniel Lubetzky left the company early because they did not think they were a good fit. They were worried about competition or just plain uninterested in the jewelry industry.
Although Kevin O’Leary did make an offer. It contained a clause requiring Krish to provide him $100 for every transaction until he was repaid for $1.8 million. Krish declined Kevin’s offer since he did not agree with this condition. In the end, Krish was able to work out a deal with Daniel Lubetzky despite some reservations from the sharks.
Product Availability
Do Amore sells a variety of exquisite jewelry items. The business began by producing engagement rings using recycled metal and diamonds that were obtained responsibly. They now offer milestone jewelry, necklaces, and earrings for sale. Every item is carefully produced to comply with the company’s ecological and moral goals. Do Amore jewelry is immediately available for purchase on the company website.
Every purchase makes a well that supplies impoverished people with clean water. There are several pricing ranges and styles available for the jewelry. Do Amore has a unique selection of items, whether you’re looking for earrings or an engagement ring. The business is well-known online and has a ton of positive five-star testimonials from pleased clients.
Conclusion
The experience Do Amore had on Shark Tank can never be forgotten. Krish entered the room with a strong sense of purpose and a desire to change the world. In addition to aiding those in need, he wanted to sell exquisite jewels. Despite the lack of offers from several sharks, Krish managed to work out a deal with Daniel Lubetzky.
Do Amore has developed and had a beneficial influence ever since. The company is still operating today providing a variety of jewelry items and aiding in the provision of pure water to thousands of people worldwide. We are eager to watch what Do Amore will bring about in the future and the improvements they will keep making.
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.
