Bala Bangles is a functional fitness equipment company selling hand-free wrist and ankle weights. This company was founded in 2018 by husband and wife team Max Kislevitz and Natalie Holloway.
Both husband and wife start their morning with yoga and Natalie is a yoga instructor. They are looking for hand-free wrist and ankle weights to make yoga practice more easy but they could not find any such product in the market.
They decided that both of them would solve this problem and then Bala Bangles was born. After wearing these wrist and ankle weights, it is not difficult to perform any yoga pose.
After coming up with the product idea, they raised $50,448 from 381 backers by launching a crowdfunding campaign on Kickstarter on May 11, 2017. By 2018, their products were available at +500 retail stores, including Nordstrom.
To expand their business, They appeared on Shark Tank and asked the sharks for $400,000 for 10% equity at a $4 Million Valuation.
What Is Bala Bangles?
Bala Bangles is a functional fitness equipment company that offers hand-free wrist and ankle weights. The specialty of these products is that even after wearing them, any exercise can be done.
The products of this brand are Bala Bangles, Power Ring, Bars, and Beam. The average weight of Bala bangles is 1 pound and after wearing it looks like a bracelet. These products are available in some selected offline stores and on Amazon.
|Natalie Holloway and Max Kislevitz
|stylish weighted wrist and ankle weights
|$400k for 10% equity
|$400k for 30% equity
|Episode (Shark Tank USA)
|Feb 28, 2020
|Los Angeles, California, US
|Lifetime Worth (Sales)
|Buy and Watch
Another Shark Tank Pitch
Who Is The Founder Of Bala Bangles?
The founders of Bala Bangles Company are Wife and Husband Team Natalie Holloway and Max Kislevitz. Natalie is a yoga instructor. Max has worked as a Brand Director in many companies like 72andSunny, Battery Agency, and many more.
How Was The Shark Tank Pitch Of Bala Bangles?
After entering the Shark Tank, both Max and Natalie came up with a great pitch and asked the Sharks for $400k for 10% equity.
The company’s total sales in the last 6 months of 2018 have been $260k and so far in 2019, sales have been $1.2 million. It is estimated that by the end of the year, it will be $2.2 million. 60% of their sales are retail, 30% Amazon, and 10% other.
Bala Bangle’s landed cost is $12, wholesale cost is $25 and retail cost is $49. They need funding to solve inventory issues and hire salespeople to manage sales.
Kevin O’Leary made the first offer of $400k as a loan at 7.5% interest for a 5% stake. Lori Greiner offered $500k for 18% equity. Mark Cuban and Maria Sharapova team up and offer $900k for 30% equity. Max and Natalie accepted the offer.
What Happened To Bala Bangles After Shark Tank?
Bala Bangles got a deal on Shark Tank. Mark Cuban and world No. 1 female tennis player Maria Sharapova invested in this company. After the investment from Shark Tank, both Lori and Daymond invested in this business.
Bala bangles are very popular nowadays and many celebrities are using this product during workouts. As of September 2023, the company’s annual revenue is $5 million. The lifetime sales of this company till January 2024 is $64 million.
Bala Bangles Shark Tank Update
The updated segment of Bala Bangles Business took place in Season 12 Episode 3. Due to the 2020 COVID-19 lockdown, all the GYM was closed and people were exercising at their homes. The sales of Bala Bangles had skyrocketed during this period.
In the year of 2020, they did sales of $2M-$3M. The company’s annual sales in 2021 were $4 million.
The progress report of this business was shared in Shark Tank Season 15 Episode 10. Natalie and Max said that their company has completely changed after Shark Tank and now they have 15+ product lines.
They have launched the Balacize online fitness platform. Their products are being sold in 25+ international countries, which include Canada, China, and Western Europe. They said that the sales of their products were very high during the pandemic but after that, they started focusing on other workout products.
Before Shark Tank, their monthly sales were $100k and their lifetime sale was $1.2 million. After Shark Tank, their monthly sales reached $1 million and currently their lifetime sales are $64 million.
What Is the Net Worth of Bala Bangles?
Bala Bangales’ net worth is $10 million. This company got boosted like a rocket in a very short time. The products of this brand are being debated on Amazon as well as many retail stores. Globally these products are being sold on Amazon and the product gets out of stock during the winter season.
Is Bala Bangles Still In Business?
Bala Bangles Company has been running since 2018 and the sales of the company are continuously increasing. Many common people and celebrities are using their fitness equipment.
This wellness and fitness company is officially headquartered in Los Angeles, California, United States, and employs 11-50 people, according to LinkedIn.
Yes, Bala Bangles is Still in business as of January 2024.