Taaluma Totes is the creation of Jack DuFour and Alley Heffren. Alley and Jack picked out fabric at a local market in Uganda so that a seamstress would create a skirt for Alley. Jack had them make a backpack.
Taaluma Totes funds Micro Loans in places like Indonesia, India and other countries. Alley's father is in the State Department, so she moved around the world growing up.
Taaluma Totes gets fabrics from countries all over the world.
The Totes fabrics are from the various countries, but they also benefit people locally hiring people with disabilities in West Virginia.
The cost to make a tote is $27, and they sell for $65. Daymond says he will pay more, but they target college students.
They find two students on each campus who are ambassadors and represent Taaluma Totes as volunteers.
Company: Taaluma Totes
Entrepreneurs: Jack DuFour and Alley Heffren
Website
Ask: $110,000 for 15% equity
Companies in this episode: LuminAID, Scholly, Keen Home
Season: Season 6 Episode 620
Sharks: Mark Cuban, Daymond John, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 02/20/15
Deal:
What do the Shark Tank Investors say about Taaluma Totes
- Mark Cuban tells them they should be proud, but they are a product and not a company. They haven't got far enough yet so; he is out.
- Daymond John takes his hat off to them. He has a challenge that they are not thinking about the margin which means you cannot sustain at the price point you are at right now. He is out.
- Kevin O'Leary connects with Alley's story because he also had a parent who worked in the State Department. He lived in foreign countries all over the world as well. The problem Kevin has is the company isn't worth the valuation that they have put on their business. Kevin says they are way too embryonic for him; he is out.
- Lori Greiner tells Jack and Alley that when she was first starting out, she had to figure the process out, but for her, it is too early and she is out.
- Robert Herjavec loves the product saying the fabric is beautiful. He tells them we are here to help a business grow and springboard. Robert thinks they are in Shark Tank a little early so, he is out.
Taaluma Totes after Shark Tank
Taaluma Totes walked out of the Shark Tank with more than one investor; they received thousands of investments from people buying their Totes.
According to their website, they did over $50,000 worth of microloans in just 24 hours, hired on 15 more people and are continuing to bring new fabrics from all over the world.
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