Lovepop (or LovePop), a company that specializes in intricate 3D pop-up cards, made a memorable appearance on the hit TV show Shark Tank. Since its debut on the show, Lovepop has experienced a remarkable journey, filled with growth, innovation, and success.
In this article, we will delve into what transpired after Lovepop’s appearance on Shark Tank, exploring the significant milestones, strategic pivots, and impressive achievements that have shaped the company’s trajectory.
From securing investments and expanding its product line to navigating the challenges of the COVID-19 pandemic, Lovepop has continued to captivate hearts and reimagine the art of card-giving. Join us as we uncover the inspiring story of Lovepop’s post-Shark Tank journey.
What Is LovePop?
You have the option to acquire LovePop cards for birthdays, commemorations, festivities, or even as a delightful indulgence. LovePop graciously provides complimentary shipping within the confines of the United States to enhance its appeal [1].
LovePop elevates the status of distinctive paper presents, transforming them into exquisite masterpieces akin to artistic creations, through the meticulous artistry of crafting 3D paper sculptures.
LovePop presents unparalleled greeting cards suitable for every conceivable occasion. They provide an array of cards designed specifically for holidays, birthdays, convalescence, nuptial celebrations, and numerous others.
Upon submitting your message online, a genuine individual will be entrusted with inscribing your words onto the card.
LovePop is adept at fashioning bespoke designs tailored to special events, including corporate gatherings and matrimonial ceremonies.
Each LovePop card is an unequivocal work of art, akin to an extraordinary, multi-dimensional, and 3D paper sculpture that gracefully folds and adheres to the interior of your preferred greeting card. The sensation it evokes is that of possessing a tangible masterpiece!
LovePop materializes through the utilization of first-rate paper, meticulously laser-cut by computerized means, and subsequently assembled by a skilled artisan.
Anyone fortunate enough to receive a LovePop card will undoubtedly be astounded, their countenance adorned with an incessant smile upon unveiling the heartfelt gesture.
LovePop cards hold an intrinsic value that transcends mere sentiment, becoming cherished keepsakes that can be proudly showcased and enjoyed time and time again. The sheer joy they bring ensures profound happiness for all who are fortunate to receive them.
How Does LovePop Work?
LovePop presents an assortment of exclusive cards for various occasions, encompassing festive greetings, birthdays, convalescence, expressions of gratitude, matrimonial celebrations, and much more.
Additionally, LovePop extends the option of dispatching cards directly to your beloved individuals, complete with a handwritten message enclosed, for a supplementary fee. When placing your order online, simply type your message, and a genuine individual will inscribe it onto the card. Moreover, LovePop possesses the ability to craft tailor-made designs suited for corporate functions, weddings, or popular tourist destinations.
Each LovePop card stands as an authentic masterpiece, characterized by a captivating interplay of paper, pop-ups, and intricate three-dimensional sculptures [2]. These exquisite sculptures adroitly fold into a sleek, flat form, affixed to the card using a delicate thread. The eloquent and elaborate paper patterns are created with impeccable precision through the employment of computerized laser-cutting techniques, before being meticulously assembled by the skilled hands of an artisan.
The reception of a LovePop card is guaranteed to elicit awe in its recipient, leaving them pleasantly astounded and deeply impressed. Opening the card is an assured source of delight, evoking an immediate smile.
A LovePop card holds an inherent charm that engenders a sense of reverence and longevity, becoming a cherished keepsake that is proudly displayed, frequently opened, and rediscovered time and time again. LovePop cards possess an inherent ability to evoke joy and happiness in the hearts of those who receive them.
About the Founders Of Lovepop
The co-founders of the enterprise, Wombi Rose and John Wise, conceived the concept during their explorations in Asia, drawing inspiration from the mesmerizing art form of kirigami [3].
Having collaborated for a remarkable span of ten years before embarking on their entrepreneurial journey, their professional backgrounds in ship design and naval architecture equipped them with 3D design expertise and a deep understanding of structural integrity. This invaluable knowledge empowered them to ingeniously adapt kirigami techniques and bring their visionary 3D card designs to life.
In a momentous turn of events, they showcased their groundbreaking idea on the renowned television program Shark Tank in 2015. Bolstered by the support of a strategic investor, they embarked on a remarkable expansion journey, fostering the growth of their company into a thriving enterprise with a workforce exceeding 800 talented individuals.
Wombi Rose and John Wise initially forged their bond while pursuing studies in naval architecture at Webb Institute. Their shared passion for innovative design and artistry laid the foundation for their enduring partnership, culminating in the establishment of Lovepop.
Enthralled by the intricacy and charm of handcrafted paper cards discovered during their travels in Vietnam, they were inspired to introduce these captivating creations to the wider audience upon their return to Boston. The overwhelmingly positive response they received validated the immense potential of their endeavor.
In 2014, Lovepop took its inaugural steps, finding its humble beginnings at the esteemed Harvard Innovation Lab. The founders’ unwavering commitment to innovation led them to participate in the esteemed Techstars program, further propelling their growth trajectory.
Their remarkable achievements did not go unnoticed, and they earned a coveted nomination from BostInno for their remarkable contribution to the entrepreneurial landscape, solidifying their position as one of the “50 on Fire”. The ultimate testament to their entrepreneurial prowess came when they graced the screens of Shark Tank and secured a crucial investment from the esteemed Kevin O’Leary, also known as Mr. Wonderful.
While their groundbreaking concept resonated with many, some investors on the show expressed reservations due to the formidable competition posed by established card-making giants like Hallmark and American Greeting Cards.
The Pitch Of Lovepop At Shark Tank
Wombi and John made their captivating pitch on Shark Tank on December 11, 2015, seeking not only a financial investment but also a Shark who could propel their business forward, unlock new avenues for retail distribution, and above all, help them leave a lasting impact on people’s lives through their innovative designs.
This dynamic duo, specializing in card engineering, entered the Shark Tank with a funding request of $300,000 in exchange for a 10% stake in their company. They commenced their presentation by emphasizing their unwavering dedication to their enterprise. Having both graduated from the prestigious Harvard Business School, Wombi and John could have easily pursued lucrative careers in marine engineering [4].
However, driven by their belief in the exceptional nature of their venture, they chose to invest all their financial resources into LovePop, despite facing significant student loans. For them, it was not only about building a successful business but also about creating a company that facilitated heartfelt connections between individuals.
To further explain their business concept to the Sharks, Wombi shared a relatable story that resonated with many. It was the familiar scenario of searching for the perfect card for a loved one in a store, only to settle for one that was mere “Okay” after an arduous quest.
According to LovePop, such compromises would be a thing of the past. The LovePop team believed that contemporary cards and digital greetings had become too impersonal. In contrast, LovePop cards offered a unique, emotive, and tangible connection between people. Intrigued by this proposition, the Sharks eagerly anticipated experiencing the breathtaking beauty of these cards firsthand.
To satisfy their curiosity, LovePop proudly presented the Sharks with special edition cards that showcased the versatility of their three-dimensional designs. From a stunning 3D racecar for Robert Herjavec to an intricate three-dimensional landscape for Barbra Cochran, the Sharks started to believe in the desirability of the product. However, their interest turned to apprehension when the LovePop team unveiled their unconventional business model.
Rather than relying solely on a direct-to-consumer website approach, LovePop had chosen to embrace mall kiosks as their primary customer acquisition strategy. The idea was to attract mall-goers to the LovePop Kiosks, where they could have a hands-on experience with the products before making their selection. Subsequently, customers would visit the LovePop website for additional services, such as personalized handwritten messages and direct shipment to the recipient.
This kiosk strategy did not sit well with Barbra Cochran, who typically invested in early-stage businesses. She recognized the intelligence and financial acumen of Wombi and John but viewed the kiosk model as overly ambitious for such a young company. Barbra decided to opt out of the opportunity.
Similarly, Mark Cuban expressed his reservations about the kiosk approach to customer acquisition. He believed it emphasized wide exposure over focusing on profitability in a single location. Mark’s concern revolved around the unpredictable nature of future costs, as the company would be subject to fluctuating rental fees and increasing expenses associated with mall kiosk spaces. While he acknowledged LovePop’s potential, Mark was not willing to take on the risks associated with the real estate industry.
In a surprising turn of events, Kevin O’Leary, known for his skepticism, found himself captivated by the company. With existing investments in romance-related businesses, he immediately recognized the synergies that LovePop would bring to his portfolio. O’Leary, also known as Mr. Wonderful, had created the “Something Wonderful” platform that curated businesses like Honeyfund for honeymoon planning, Wicked Good Cupcakes for delightful wedding guest treats, and even Bottle Breacher for clever groomsmen gifts.
According to Mr. Wonderful, the wedding industry offered an exciting opportunity as people were willing to spend lavishly on beautiful experiences during this special time in their lives. However, he highlighted the challenges of meeting high-volume demands within tight deadlines.
Kevin’s primary concern was the company’s production capabilities. He posed a hypothetical scenario where he sent LovePop 3,000 orders per month, questioning their ability to handle sudden surges in demand. Fortunately, the astute Harvard duo had anticipated this dilemma and already established an overseas production facility capable of manufacturing over 20,000 cards per month. This impressive level of production translated into total sales of $300,000.
Kevin O’Leary was convinced and ready to invest, but he soon discovered that he was not the only Shark interested in securing a deal. Robert Herjavec, impressed by LovePop’s emphasis on exceptional service and customer satisfaction, acknowledged the uncertainties surrounding scaling operations for such a young company. Despite the risks involved, Robert increased his equity offer to 20% for $300,000. Not willing to let the opportunity slip away, Kevin swiftly matched Robert’s offer. Furthermore, Kevin emphasized the value he could bring by leveraging his Something Wonderful platform to attract new customers.
After a brief discussion, the entrepreneurs reached a unanimous decision. They seized the opportunity presented by the wedding industry and enthusiastically accepted Kevin O’Leary’s offer, realizing the immense value he could bring to their business.
Lovepop After The Shark Tank
Following Kevin O’Leary’s substantial investment of $300,000, Lovepop experienced a truly remarkable transformation in their sales performance – a truly wonderful development. Prior to entering the Tank, the company had achieved impressive sales of $300,000. However, their success didn’t merely stop at doubling their previous numbers; they surpassed all expectations by more than tripling their sales, reaching an astonishing total of $1,000,000 [6].
Taking Mark Cuban’s valuable advice to heart, Lovepop made a strategic shift away from their Kiosk model, redirecting their marketing and sales efforts toward the online market while actively pursuing opportunities to place their cards in prominent retail chains.
In a heartwarming initiative, Lovepop has discovered a meaningful way to give back to the community amidst their triumphs. They recently entered into a partnership with an organization called The Possible Project. This remarkable organization empowers high school students by equipping them with the skills and knowledge to initiate and manage their own businesses through comprehensive after-school programs spanning multiple years.
Driven by their unwavering commitment to innovation, the Lovepop entrepreneurs recognize that nurturing young minds and empowering them to turn their dreams into reality is an incredible opportunity. Alongside teaching the students about the intricacies of the business world, the Lovepop team also imparted lessons on 3D modeling software.
As a result of this collaboration, a captivating line of cards has emerged on the Lovepop website, showcasing designs inspired and crafted by the very students whom Lovepop has had the privilege of mentoring.
Another exciting opportunity that arose after their appearance on Shark Tank was a collaboration with the delightfully eccentric Keytar Bear. In Lovepop’s hometown of Boston, this bear-costumed individual has become somewhat of a local icon, often seen spreading joy and merriment throughout the city by playing the keytar (a unique blend of keyboard and guitar) and entertaining concertgoers.
Last year, Lovepop joined forces with Keytar Bear for Valentine’s Day, creating a memorable experience for 20 lucky couples who were not only greeted with exquisite Lovepop cards but also treated to a playful serenade. This event proved to be a resounding success, leaving a lasting impression on attendees and further engraving the Lovepop brand in the hearts and minds of potential customers [7].
The Lovepop team also had the incredible opportunity to showcase their extraordinary product and its enchanting qualities on the national television show The View. Both Wombi, John and their newly acquired Shark, Kevin O’Leary, demonstrated the magic that unfolds every time a Lovepop card is opened for the first time.
The show’s hosts, including esteemed personalities like Whoopi Goldberg and Michelle Collins, were captivated by the special moment created by Lovepop. This television appearance provided invaluable exposure for the company, introducing Lovepop to a wider audience and leaving the team immensely grateful for the chance to make a lasting impression.
The Net Worth Of Lovepop
Lovepop experienced a remarkable boost in sales after securing a $300,000 investment from Kevin O’Leary. Prior to their appearance on Shark Tank, the company had achieved sales of $300,000.
However, the exposure and support received from the show led Lovepop’s sales to soar, multiplying by three and reaching an impressive total of $1,000,000.
Moreover, heeding Mark Cuban’s valuable guidance, Lovepop made a strategic shift in its business strategy, pivoting away from kiosks and focusing on online sales channels as well as establishing fruitful partnerships with prominent retailers.
During the tumultuous year of 2018, Lovepop managed to secure an impressive funding round of $12.5 million from prominent venture firms Accomplice and Highland Capital Partners. Their growth trajectory continued in December 2019 when they received an additional $10 million from the same firms, alongside other investors.
Demonstrating adaptability amidst the challenging circumstances of the Covid-19 pandemic in 2020, Lovepop made a strategic pivot by repurposing some of its manufacturing machinery to produce much-needed face shields.
In a major development for the company, June 2021 marked the appointment of Lisa Scopa as Lovepop’s new CEO. Entrusted with overseeing a thriving business that boasts a workforce of 800 talented individuals and achieves impressive annual sales surpassing $40 million [8]. The year 2021 also saw Lovepop expand its physical presence by opening six brick-and-mortar stores in strategic locations such as Boston, California, and Florida.
Looking ahead, they have ambitious plans to establish three more stores in New York City in 2022, capitalizing on its vibrant market. Additionally, Lovepop has successfully positioned its unique cards in hundreds of independent retailers worldwide, extending its reach to a global customer base.
As of September 2022, Lovepop’s annual revenue has skyrocketed, exceeding a staggering $150 million, signifying its continued success and growth.
In a recent financial boost, Lovepop successfully raised an additional $5 million in January 2023. This investment comprised $3 million from the conversion of outstanding convertible securities and $2 million in new capital infusion. With this increased funding and a relentless drive for innovation and excellence, Lovepop’s annual revenue has now reached an impressive $160 million, reinforcing its position as a leading player in the industry.
Alternatives To Lovepop:
- Paperless Post: For those who prefer digital greetings, Paperless Post offers a wide range of beautifully designed e-cards. They collaborate with renowned designers to create customizable digital cards that can be sent via email or shared on social media. Paperless Post provides an environmentally friendly and convenient option for sending personalized greetings;
- PopLife: If you’re specifically drawn to Lovepop’s signature 3D pop-up designs, PopLife is an excellent alternative. They specialize in creating intricate and eye-catching pop-up cards for various occasions. With their attention to detail and high-quality craftsmanship, PopLife cards are sure to impress and delight recipients;
- Papyrus: Known for its exquisite stationery, Papyrus offers a diverse selection of unique cards for every occasion. Their cards feature beautiful designs, often embellished with glitter, foil, or other decorative elements. Papyrus cards are known for their elegance and sophisticated appeal, making them a great choice for those seeking a touch of luxury;
- Minted: Minted is a platform that showcases designs from independent artists worldwide. They offer a wide array of customizable cards, including holiday cards, wedding invitations, and more. With its focus on supporting independent artists, Minted provides a chance to discover unique and one-of-a-kind designs that reflect your personal style;
- Hallmark Signature: A trusted name in the greeting card industry, Hallmark Signature offers a collection of high-quality cards that combine intricate designs with thoughtful messages. Their cards feature premium materials and sophisticated details, making them an ideal alternative for those seeking a touch of elegance and sentimentality;
- Etsy: If you’re looking for handmade and personalized cards, Etsy is a treasure trove of creativity. This online marketplace connects you with independent sellers who craft unique cards for various occasions. Etsy allows you to find personalized and customizable options, ensuring that your card is truly one-of-a-kind [9];
FAQ:
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How is Lovepop doing after Shark Tank?
Lovepop has been doing very well after appearing on Shark Tank. It has been featured on numerous lists of the best Shark Tank products and has seen significant growth in its business. The company has also expanded beyond greeting cards to include other products such as pop-up ornaments, bouquets, and more.
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How much money is Lovepop’s worth today?
As of June 2023, Lovepop’s valuation is not publicly available. However, according to a Forbes article, the company was valued at $400 million [10].
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Is Lovepop successful?
Based on the information available, Lovepop appears to be a successful company. It has been featured on Shark Tank and has seen significant growth since its appearance on the show. The company has expanded beyond greeting cards to other products and has been recognized as one of the most successful Shark Tank products.
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Is Lovepop profitable?
There is no publicly available information on Lovepop’s profitability. However, according to an interview with the co-founders published in Forbes, the company was “close” to profitability in 2019.
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How many employees does Lovepop have?
As of 2021, Lovepop had around 200 employees [11].
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Are Lovepop cards handmade?
Yes, Lovepop cards are handmade.
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Who is the wealthiest investor in Shark Tank?
Mark Cuban is currently the wealthiest Shark Tank investor, with a net worth of $5.2 billion.
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Does Lovepop have a patent?
Yes, Lovepop has patented its 3D paper sculpture design.
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Are Lovepop cards made in the USA?
Yes, Lovepop cards are made in Vietnam but designed and shipped from Boston, USA.
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Does Lovepop ship internationally?
Yes, Lovepop ships internationally.
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Do Lovepop cards need 2 stamps?
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What season was Lovepop on Shark Tank?
Lovepop appeared on Season 7 Episode 25 of Shark Tank [12].
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What are the benefits of Shark Tank?
Shark Tank can provide entrepreneurs with exposure, funding, and mentorship opportunities. Appearing on the show can also help companies gain credibility and increase sales. Additionally, Shark Tank can be a valuable learning experience, as entrepreneurs have to pitch their ideas to a group of established investors and defend their business strategies and plans. The feedback and advice given by the investors on the show can be useful for entrepreneurs, as they can gain insights into what it takes to succeed in the business world.
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Where are Lovepop products made and sourced from?
Lovepop cards are made in Vietnam using materials from sustainably managed forests. The company also sources its products from other countries such as the United States, Germany, and Italy.
Useful Video: Lovepop Cards Touches The Sharks With Their Designs | Shark Tank US | Shark Tank Global
References:
- https://allsharktankproducts.com/shark-tank-products-arts/lovepop-3d-pop-up-greeting-cards/
- https://gazettereview.com/2016/05/lovepop-after-shark-tank-update/
- https://biznewske.com/lovepop-shark-tank-update/
- https://www.sharktankblog.com/business/lovepop/
- https://seoaves.com/what-happened-to-lovepop-after-shark-tank/
- https://www.looper.com/1202179/whatever-happened-to-lovepop-after-shark-tank/
- https://sharktankrecap.com/lovepop-cards-update-shark-tank-season-7/
- https://insidergrowth.com/lovepop-cards-net-worth/
- https://support.lovepop.com/hc/en-us
- https://www.forbes.com/sites/emmasandler/2017/12/11/shark-tank-startup-lovepop-decorates-henri-bendel-with-holiday-butterflies
- https://sharktanktales.com/lovepop-shark-tank-update/
- https://2paragraphs.com/2017/11/lovepop-what-happened-to-3d-greeting-cards-after-300k-shark-tank-deal/