where the deal was struck
Julia Cheek reveals her actual Shark Tank deal structure with Lori Greiner at a $20M post-money valuation: a line of credit at 8% interest in exchange for 5% of the company. She says she shook on the largest-ever deal for a female entrepreneur valuation.
“It was a line of credit deal at an 8% interest rate for 5% of the company.”
EverlyWell aired the night before Cyber Monday and got 30x normal traffic, but unlike most companies it had no huge same-night purchase spike. Instead it did ~$1M in sales over the 4 days after, doubled on a run-rate basis that week, kept doubling the next month, and never declined.
“We got about 30 times our normal traffic, but we had an interesting experience. We didn't have this tremendous huge spike the night of in terms of purchases, but we ended up doing about $1 million in sales which at the time was a tremendously large number for us, in like the 4-day period after the show. So there's been a little bit of this interesting thing for us that I haven't heard many other companies have, which is we doubled— like, we doubled in that week on a run rate standpoint, and then we continued doubling the next month, and we never had that decline, right?”