Although parties are a wonderful way to unite people, they also frequently leave behind trash piles from plastic plates, cups, and cutlery that are bad for the environment. Many people are ashamed of how much waste is produced, especially considering the fact that most of these things wind up in garbage.
It was precisely this issue that Jessica Holsy and Emily Doubilet tried to resolve. Although they like hosting parties, they weren’t happy with the waste that resulted. They therefore devised a solution: sustainable, eco-friendly party supplies. Susty Party was founded by Jessica and Emily. It was a brand of vibrant and entertaining party supplies that were made in the USA in factories that employed people with visual disabilities and were also environmentally friendly.
On Shark Tank, they asked for $250,000 in exchange for 10% equity. The sharks reacted differently to their eco-friendly items, which they thought would revolutionize the way people celebrated. Did the entrepreneur get a deal on Shark Tank? Check out our Susty Party update to find out!
Susty Party Net Worth 2024
Jessica Holsy and Emily Doubilet asked for a $250k investment in exchange for 10% equity in their company, Susty Party. This meant they valued their company at $2.5 million. They did not make a deal with any sharks, as they turned down Kevin O’Leary’s offer of a $250k loan with 10% interest in exchange for 30% equity. This offer valued their company significantly lower, and they believed it wasn’t a good fit for their business. After the show aired, Susty Party secured a $500k investment in a seed funding round in exchange for 8% equity. This new deal valued their company at $6.25 million. Following this, Susty Party saw growth in its customer base and product offerings. In 2016, Susty Party was acquired by a funding group for an undisclosed amount. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Susty Party in 2024 is about $13.4 million.
Susty Party Shark Tank Update
Even though Jessica and Emily could not negotiate the deal with the sharks, their business expanded after their time on Shark Tank. Susty Party gave up merely 8% of its shares to secure a $500,000 investment in a seed finance round shortly after the show aired. By making this investment, they could grow their customers and attract more people who were looking for environmentally friendly party supplies.
As for a Susty Party update, a funding group purchased the Susty Party in 2016 for an unknown sum. Even though Jessica and Emily are no longer with the organization, their idea of environmentally friendly partying remains. Today, Susty Party items will still be obtainable on well-known e-commerce sites such as Amazon, enabling consumers to keep choosing environmentally responsible options for their gatherings.
No, Shark Tank did not result in a deal for the Susty Party. Jessica and Emily turned down Kevin O’Leary’s offer of a $250,000 loan at 10% of equity because they didn’t think it was a good fit for their business. They left the tank empty-handed.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Kevin O’Leary | $250k as a loan for 30% equity + 10% interest | $250k as a loan + the option to buy equity at a discounted valuation in the future | No |
| Lori Greiner | Out | N/A | N/A |
| Robert Herjavec | Out | N/A | N/A |
| Barbara Corcoran | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
Susty Party Shark Tank Pitch
Although Jessica Holsy and Emily Doubilet had always enjoyed throwing parties, they eventually felt like trash that was produced during these get-togethers. They understood that although disposable party supplies were convenient; the environment was frequently sacrificed. This motivated them to develop the Susty Party, a range of vibrant, eco-friendly, and entertaining supplies that won’t add to the expanding plastic crisis.
Early on, one of their main problems was coming up with high-quality, reasonably priced products that were also environmentally friendly. Although balancing price, sustainability, and aesthetics wasn’t simple, they were committed to providing a product that did well as well as looked nice.
Jessica and Emily introduced themselves and their goal of creating sustainable party supplies as soon as they entered the tank. They want $250,000 in return for a 10% stake in Susty Party. They emphasized that not only were their items disposable and biodegradable but they were also produced in American facilities that hired blind workers.
The company’s owners displayed their environmentally friendly dishes, glasses, and cutlery while stating that sales had already reached $1 million and they expected to reach $1.5 million by the end of the year. In their pitch, they highlighted how dedicated they were to sustainability and how they thought the Susty Party could revolutionize celebrations. Keep reading our Susty Party update to see what happens next!
Mark Cuban asked about the sales and other details of the business. The founders replied they did a million in sales and are expecting $1.5 million by the end of this year. They are sold through the largest natural products retailer in the country.
Lori Greiner questioned the cost of the plates. They replied that their 7-inch plate costs $4.99.
Mark questioned how much cash they have right now. The founder replied that $30,000 is in the bank right now.
Robert Herjavec asked about the amount of inventory they have today. They revealed that they have an inventory of $125,000.
Robert further asked why the sharks believe that the business will make $5 million one year from today. In response, the founders said that they are introducing 38 new products and also making plans for that.
The only other shark to make an offer was Kevin O’Leary, although it was a debt transaction. He offered a loan of $250,000 with 10% interest for 30% ownership. Kevin thought the company could succeed, but in order to cover the risk, he desired a sizable ownership.
Robert Herjavec left the company because he thought it was too risky, stating worries about growth and market demand.
Barbara Corcoran also made the decision to decline lack of belief in the business’s high profitability.
Lori Greiner was rejected from investing in Susty Party since she had previously made an investment in a business that was similar.
Mark Cuban chose not to invest because he disagreed with the business plan.
Ultimately, Jessica and Emily turned down Kevin’s offer and left the shark tank without a deal.
What Went Wrong With a Susty Party On Shark Tank?
The perceived risk and scalability of the firm were the primary obstacles that kept Jessica and Emily from closing a deal. Although the sharks appreciated the company’s eco-friendly goals, most of them didn’t think it could make enough money or expand rapidly in an extremely competitive sector. The founders were unwilling to accept the excessive equity requirement that came with Kevin O’Leary’s offer.
The sharks were also worried about the company’s capacity to differentiate itself in a market crowded with less expensive, less environmentally friendly options. They were concerned that the increased cost of environmentally friendly goods would restrict the brand’s expansion.
Product Availability
From our Susty Party update research, Amazon is the main platform from where the product can be brought online. Susty Party supplies are simple to order for customers, giving them a fun, colorful, and environmentally friendly party supply selection. The prices of the products are competitive; an eight-pack of plates will run you about $5.
Conclusion
Even though Jessica and Emily could not close a transaction on Shark Tank, their idea for the Susty Party kept expanding. They could grow their business after the show thanks to a $500,000 investment they received in a seed funding round. After venture capitalists purchased the business in 2016, Jessica and Emily were free to go on while their brand continued to exist.
Susty Party items are still offered for sale online, allowing customers to celebrate in an environmentally friendly way. The company’s journey shows that a strong mission and perseverance may lead to success even in the absence of a shark deal. The Susty Party is probably going to keep contributing to the movement towards more sustainable living as environmentally friendly solutions gain popularity.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
