It can be challenging to keep shoes clean, particularly if you use them every day. They appear worn out and aged due to scuff marks, filth, and grime. Chris Pavlica and Kevin Consolo were familiar with this issue. They created Sneakerasers for this reason.
They produced a simple and user-friendly product. Sneakers and shoes are cleaned by their dual-sided sponge, giving them a brand-new appearance. In Season 12 they presented this concept on Shark Tank. They requested $200,000 in exchange for 8% of their business. Will the entrepreneur get a deal on Shark Tank? Check out our Sneakerasers update to find out!
SneakErasers Net Worth Shark Tank Update 2025
Chris Pavlica and Kevin Consolo asked for a $200k investment in exchange for 8% equity in their company. This meant they valued their company at $2.5 million. They made a deal with Lori Greiner and Alex Rodriguez for $200k in exchange for 20% of their company. This new deal valued their company at $1 million. After the show aired, Sneakerasers 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 Sneakerasers is about $1.61 million.
After Sneakerasers went viral on Shark Tank. The business kept expanding and adding new products to its lineup. They were bringing in about $5 million annually by April 2024. Retailers such as CVS, Walmart, Kroger, and Kroger carry their goods. They even started working with Skechers to produce a unique product known as SkechErasers.
Their brand grew even more as a result. They introduced new items such as AutoErasers and GolfErasers. These are used for automobile and golf club cleaning. The business is still operating today. A success story that began in a garage and is currently available in big box retailers is Sneakerasers.
A deal was indeed struck by Sneakerasers on Shark Tank. Chris and Kevin went in requesting $200,000 for 8% of their business. Although they had other offers, the sharks thought the proposal was good. Kevin O’Leary made a $200,000 bid for 15%.
Mark Cuban made a $200,000 bid for 12.5%. However, Chris and Kevin ultimately won their deal from Lori Greiner and Alex Rodriguez. They exchanged a 20% stake for $200,000 in total. The deal aided in the company’s expansion. The sharks assisted with product marketing and improved retail distribution.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Alex Rodriguez (guest shark) | $200,000 for 20% equity(pair) | N/A | Yes |
| Lori Greiner | $200,000 for 20% equity(pair) | N/A | Yes |
| Kevin O’Leary | $200,000 for 15% equity | N/A | N/A |
| Barbara Corcoran | Out | N/A | N/A |
| Mark Cuban | $200,000 for 12.5% equity | $300,000 for 10% equity | N/A |
SneakErasers Shark Tank pitch
Former college pals Chris and Kevin had always wanted to launch a company together. Chris had the concept for Sneakerasers while attempting to clean his trainers in preparation for a significant meeting. He was annoyed that nothing seemed to function properly. He was aware that there has to be a more effective method for cleaning shoes.
He then gave Kevin a call and told him his proposal. In Chris’s garage, they worked on the project. They needed to choose the appropriate layout and components. It wasn’t simple. Numerous obstacles had to be overcome such as locating suitable suppliers and persuading customers to purchase their goods. But they had faith in their idea. They persisted and put in a lot of effort.
Chris and Kevin were sure of their product when they appeared on Shark Tank. They were aware of its effectiveness. They demonstrated to the sharks how simple it was to clean scuffed trainers with the Sneakerasers sponge. The product impressed the sharks but they had some concerns. Kevin and Chris presented their company plan.
They discussed their product’s sales and distribution channels. They revealed to the sharks that they had previously sold goods valued at over $1.1 million. They needed assistance in order to expand even further. They desired a shark to assist in increasing margins and marketing.
The sharks asked Sneakerasers a lot of questions. They were curious as to how many times a single sponge might be used. According to Chris, you could use a sponge up to 9 times. They also enquired about the price of producing each item. Chris and Kevin clarified that a pack of three sponges costs $1.98 to produce but they resell them for $9.99.
The margins left the sharks impressed. But they questioned the competition as well. Chris and Kevin claimed that no other product on the market was similar to theirs. They also recommended GolfErasers and AutoErasers two more goods they offer. These items clean autos and golf clubs.
The pitch was received differently by the sharks. Although Kevin O’Leary approved of the project demanded 15% shares in exchange for his $200,000. Mark Cuban thought of something else. He felt that Sneakerasers ought to work together with shoe manufacturers. He made a $200,000 bid for 12.5%. However, Chris and Kevin desired to keep a larger portion of their business.
In response, they demanded $300,000 for 10%. That was when Mark left. The agreement was closed by Lori Greiner and Alex Rodriguez. They made a $200,000 bid for 20%. Kevin and Chris agreed. They thought Lori and Alex could support them in expanding their company.
What Went Wrong With Sneakerasers On Shark Tank?
Not every shark agreed with Sneakerasers. Having several items offered by the company did not sit well with Barbara Corcoran. She stated that she had trouble working with inventors. She therefore chose not to extend an offer. Although Kevin O’Leary also made an offer, Chris and Kevin rejected it because it was too expensive.
They believed that giving up 15% of the stock would be too much. They desired to keep more of their business. Mark Cuban had a good idea about partnering with shoe companies, but they did not like his equity offer either. Ultimately, they decided that Lori and Alex could be of the greatest assistance to them.
Product Availability
Sneakerasers are a unique item. This little round sponge has a scrubber on one side. It functions best when it’s damp. The purpose of the sponge is to remove dirt and scuff marks off shoes. It is simple to use and portable. You may always take it with you and use it to clean your shoes. More than 30,000 retail establishments, including Walmart, Kroger, and CVS, carry the product. It can also be purchased online at places like Amazon.com.
Sponge packs come in three packs and cost $9.99. For a product that has several uses, it is a terrific bargain. Other items such as GolfErasers and AutoErasers have also been introduced by the company. These items clean autos and golf clubs.
Conclusion
Sneakerasers is a great example of how a little concept may grow into a significant company. Chris and Kevin had a problem that needed to be resolved and they did it. To develop their product and get it into stores they put forth a lot of effort. Their growth received additional support from their appearance on Shark Tank. They have been growing their business since they signed a contract with Lori Greiner and Alex Rodriguez.
They have introduced new goods and their products are currently available in thousands of locations. The business is expanding and doing well. We may anticipate many more developments from Sneakerasers in the future. Theirs is an inspiring tale of achievement through determination and hard work.
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.
