Learning a new skill was often challenging, especially for adults who felt they were too old to start new hobbies. This problem inspired Justine and Adrian to create their business, The Woobles.
It included simple crochet kits that taught beginners how to make cute characters like penguins, foxes, and more. Each kit included easy-to-follow video tutorials, special beginner-friendly yarn, and the materials needed to create a fully crocheted animal.
Justine and Adrian entered the Shark Tank seeking $250,000 for a 5% stake in their company. The Sharks were quickly impressed by the cute products. But they were more impressed by the cash flow their business was generating. Would the Woobles’ success be enough to secure a deal with one of the Sharks? Find out in our The Woobles Shark Tank Update!
The Woobles Net Worth Shark Tank Update 2025
Justine and Adrian asked for a $250k investment in exchange for 5% equity in their company. This meant they valued their company at $5 million. They made a deal with Mark and Lori for $450k in exchange for 6% of their company. This new deal valued their company at $7.5 million. After the show aired, The Woobles saw a significant increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of The Woobles in 2025 is about $10.08 million.
They introduced a special “Tank the Shark” crochet kit to celebrate their Shark Tank appearance. This limited edition product sold out on the night their episode aired. The Woobles also published a book titled “Crochet Amigurumi for Every Occasion.” The guide quickly became the number one position in Amazon’s Toy Making Book category.
All of the Sharks were interested in getting into the business with The Woobles. Kevin O’Leary was the first Shark to make an offer to the founders. He liked the fact that the business had a positive cash flow. He made an offer of $250,000 for a 10% stake in the company. Barbara and Lori made the exact same offer for $300,000 for a 10% equity.
However, Barbara raised her investment offer to $350,000 for the same equity. Lori kept the same offer but reduced her equity to 8%. Mark joined in with Barbara and made an offer of $350,000, but for 6% instead. Lori and Robert joined hands and upped the investment to $450,000 for a 6% equity.
The founders wanted Mark and Lori, so they asked them whether they would team up with each other. Mark immediately reaffirmed with Lori, and they accepted a deal for $450,000 for a 6% equity.
| Shark(s) Name | Offer and Demand | Counteroffer | Accepted? |
| Kevin O’Leary | $250,000 for a 10% equity in the business | N/A | N/A |
| Barbara Corcoran | #1: $300,000 investment for a 10% equity in the business. #2: $350,000 investment for a 10% equity in the business. #3: $350,000 investment for a 5% equity in the business. #4: $350,000 but for 6% equity with Mark Cuban as the other investor. | N/A | N/A |
| Mark Cuban | #1: $350,000 but for 6% equity with Barbara Corcoran as the other investor. #2: $450,000 investment for a 6% equity with Lori Grenier as the other investor | N/A | Yes (But the deal didn’t go through later) |
| Robert Herjevac | $450,000 for a 6% equity with Lori Grenier as the other investor. | N/A | N/A |
| Lori Greiner | #1: $300,000 investment for a 10% equity in the business. #2: $300,000 investment for an 8% equity in the business. #3: $450,000 investment for a 6% equity with Mark Cuban as the other investor | N/A | N/A |
The Woobles Shark Tank Pitch
The founders had diverse backgrounds before starting their crochet kit company. Justine worked at Google Classroom, leading user experiences. She enjoyed her role in educational products. But she faced challenges when promoted to management. It wasn’t her strong suit to manage people. She tried new hobbies to relax, including crochet. This experience showed her she could still learn new skills, even as an adult. This idea was how the company was created.
Adrian’s journey began with traditional ideas of success. He became a young director on Wall Street, trading billions in equities. Even though he had achieved a lot in such a short amount of time, he felt unsatisfied. He left his career to find his own definition of success, knowing he wanted to help others. Two years before appearing on Shark Tank, Justine and Adrian started The Woobles. They invested $200 in yarn and a website domain. Their business experienced significant growth in a short time.
Justine and Adrian came on the Shark Tank wanting $250,000 for 5% equity in their company, The Woobles. They presented fun, simple kits that taught people how to crochet cute characters like Pierre the Penguin and Felix the Fox. Each kit came with step-by-step videos for beginners. They saw The Woobles as both a crochet and an education company. It focused on increasing people’s confidence by learning a new skill.
Starting with just $200 two years ago, they’d grown to $5.3 million in total sales. For the current year (at the time they appeared on Shark Tank), their sales were $3.1 million. By the end of the year, they were expected to make $7 million. They came on Shark Tank to seek help with licensing, wholesale expansion, and mentorship from the Sharks.
After the founders explained their background, Adrian told them about their humble beginnings. They took $200 worth of yarn, bought a domain name, and since then, they’ve done $5.3 million in sales. Up until Shark Tank’s appearance, they made $3.1 million, and by the end of the year, they were expected to make $7 million.
Mark had concerns regarding advertisement costs since they were a direct-to-consumer business. He also wanted to know their cost to acquire these revenues, what their gross margins were, and what their net margins were. Adrian replied that the advertisement costs are around 20% of the total revenue. It costs them a blended CAC (Customer Acquisition Cost) of $16. The average order a customer purchases is $57. To answer his original question, they had an 86 percent gross margin, a 32 percent net margin lifetime, and a 38 percent year-to-date.
Robert then asked if they didn’t have any money problems and why they were in the Tank. Adrian told them that they wanted to be there for three reasons. Those were:
- Licensing
- Wholesale
- Mentorship
Robert asked if The Woobles would stick to crochet or teach other skills later. Justine said teaching others a skill was their main priority, and that was using crochet. But they may branch out someday in the future. This showed they knew what they wanted to do in the present but were open to new ideas as they expanded.
The Sharks were excited about the Woobles and started making offers. Kevin O’Leary made the first offer, saying he liked the company’s cash flow. He thought he could help lower their customer acquisition costs and assist with licensing. Kevin offered $250,000 for 10% equity.
Barbara Corcoran jumped in next, raising the offer to $300,000 for 10%. Lori Greiner matched Barbara’s offer, adding that she understood the market well and could help with licensing and retail expansion. She believed the Woobles could grow quickly. But they had to act fast. The bidding heated up as Barbara increased her offer to $350,000 for 10%. Lori countered with $300,000 for 8%. Then Barbara reduced her equity even more, offering $350,000 for just 5%.
Adrian, one of the founders, asked if Barbara would team up with another Shark. Barbara suggested partnering with Mark Cuban. Lori reminded everyone she could handle the deal alone. Adrian praised Lori’s experience, but still wanted two Sharks. Mark Cuban joined in, suggesting $350,000 for 6% with Barbara. Robert Herjavec, feeling left out, partnered with Lori to offer $450,000 for 6%.
In the end, Adrian said they thought Mark and Lori could help them the most. Mark agreed to team up with Lori, matching the $450,000 for 6% equity in the business. The founders accepted the deal with Mark and Lori to help grow their business. Even though they secured a deal on the show, the partnership didn’t go off-camera. But their experience on the show was positive.
Product Availability
The products can be found on their official website, Amazon, Walmart, and select Loblaw stores in Canada. They’ve expanded the product line and have now included crochet kits for the following:
- Powerpuff Girls Crochet Kit
- Harry Potter Crochet Kit
- Peanuts Crochet Kit
- Miffy Crochet Kit
- PAC-MAN Crochet Kit
- Hello Kitty Crochet Kit
Conclusion
The Woobles made a strong impression on Shark Tank. The company’s crochet kits, which taught a new skill while creating cute characters, caught the Sharks’ attention. All of the Sharks wanted to take a bite at the business because of positive cash flow.
Mark Cuban and Lori Greiner offered $450,000 for 6% of the company, which the founders accepted. Although the deal didn’t finalize after the show, The Woobles benefited from the exposure. They started to expand their product line and retail presence successfully. This success story demonstrated how a clever idea, combined with hard work, could transform into a profitable business.
My name is Saad, and I’m a Civil engineer turned web developer and a passionate content writer. One of my favorite tv shows to watch is Shark Tank. The entire business aspect of the show and how everyone wants to be an entrepreneur resonates with my inner entrepreneur side as well. Writing for the show as well as being a fan, I love every second that I write for it. Read more About me.
