Felt
Felt delivers a handwritten note through the mail for you. The company lets you send a handwritten card from your phone or a tablet anytime. You handwrite your message on the screen and then they print, stamp, seal and mail your cards for you.
Tomer's company is a marketplace that allows designers to sell their art through their site. They don't do invitations yet, but you can save addresses so when you want to do Christmas Cards or holidays, you can do them with handwritten notes and addresses.
Felt has over 60,000 downloads with a four and a half star rating. Tomer put all their cash in the company, and they have identified two huge markets. They want to do a bride and professionals.
There is nobody else that lets you write your cards on the screen. Customer acquisition cost is $8 and that is why they focus on brides.
Felt Episode Data
- Company: Felt –Website
- Entrepreneur: Tomer Alpert
- Ask: $200,000 for 6% equity
- Episode Season 7 Episode 729
- Companies in this episode:
- Felt
- PMS Bites
- Pete and Pedro
- Pavlock
- Whitehouse Visit – Featured Update
- Sharks:
- First Aired: 05/20/2016
- Deal: Kevin O'Leary $225,000 for 10% equity. This is the right deal with the right partner.
What do the Shark Tank Investors say about Felt?
- Mark Cuban – says he is out to make it easy for him
- Barbara Corcoran – says she is out as well
- Kevin O'Leary – has all the customers for the company, and he can have them for zero acquisition cost. He offers $225,0000 for 10% equity.
- Lori Griener – goes out encouraging him to take the deal with Mr. Wonderful.
- Robert Herjavec – thinks a lot of people that are doing this and there is nothing proprietary. He is out.
Felt after Shark Tank
The Felt app had 10,000 people using it at the same time the night of the first airing. Most of the Shark Tank sales came in the following days. Revenue exploded over ten times the amount before Shark Tank.
Felt became profitable after adding the Shark Tank traffic.