Black Paper Party Shark Tank Update (Season 15)

Black Paper Party is a home and party decoration business that primarily targets Black families. This Business was founded by three Black Women Madia Willis, J’aaron Merchant, and Jasmine Hudson to fulfill the holiday decorations and wrapping paper gap in the market.

They represent their diverse communities through this business. The idea for this business came when they noticed that the gift wrapping of all the elves, Santas, and fireside families always looked the same.

They began designing and manufacturing culturally relevant products that black families could celebrate. Along with controlling the quality of their product, they made the product available in Walmart, Target, CVS, and Family Dollar.

Co-founders Madia, J’aaron, and Jasmine appeared in Shark Tank Season 15 Episode 8 to expand their business and took $250,000 from the shark for 15% equity at a $5 Million Valuation. Barbara Corcoran invested $250,000 in this business for 10% equity.

Black Paper Party Shark Tank Update
Image credit by ABC Shark Tank

What Is Black Paper Party?

Black Paper Party is a home and party decoration business that sells premium wrapping paper, gift bags, ornaments, greeting cards, and decor products. They have products for every holiday season, be it Christmas, Valentine’s Day, or Republic Day.

Black Americans spend 15% more during the holidays and the target customer of this business is black families. Their premium wrapping paper ranges from $5-$40 and a 3-pack gift bag costs $15.

Company NameBlack Paper Party
FounderMadia Willis, J’aaron Merchant, and Jasmine Hudson
FoundedSep 2020
Producthome and party decoration
Asked For$250k for 5% equity
Final Deal$250k for 10% equity
SharkBarbara Corcoran Barbara Corcoran
Episode (Shark Tank USA)S15 E8
Air DateDec 8, 2023
Business StatusIn Business
WebsiteVisit Website
HeadquartersBentonville, Arkansas, USA
Lifetime Worth (Sales)$2.2M *estimated
Buy and WatchBuy NowAmazon Prime

Another Shark Tank Pitch

Who Is The Founder Of Black Paper Party?

Founder Of Black Paper Party
Image credit by ABC Shark Tank

The Co-Founders of Black Paper Party Business are Three Black Women Madia Willis, J’aaron Merchant, and Jasmine Hudson. According to their LinkedIn profile, they started this business in September 2020.

They come from retail and illustration backgrounds and have very good knowledge of this business.

Madia Willis is the co-founder and CEO of this company. She has worked in textile design and product development for many years.

How Was The Shark Tank Pitch Of Black Paper Party?

Madia Willis, Jasmine Hudson, and J’aaron Merchant appeared on Shark Tank and asked the Sharks for $250k for 5% equity. They told the Sharks about their current business and said that they currently have 200 SKUs.

Currently, their products are available in 6 retail stores namely Macy’s, Target, Walmart, Family Dollar, and Dollar General.

Since they started their business in 2020 their sales have been $44,000, in 2021 they will be $274,000, in 2022 they will be $844,000 and in 2023 they are tracking to reach $1.1 Million in Sales. In 2022, their gross margin was 53% and they made $158,000 Net.

They will make $150,000 on $1.1 million in 2023 sales and have a gross margin of 65%. Kevin O’Leary said the seasonal industry is huge and this business is still small so he is out.

Barbara Corcoran offered $250k for 15% equity. Barbara Corcoran and Mark Cuban teamed up to offer $250k for 20% equity. Lori Greiner said she doesn’t like season business then she is out.

Madia countered Mark and Barbara with $450k for 18% equity. Madia offered Barbara a single for $250k for 10% equity and Barbara accepted.

SharksOffers
Barbara Corcoran Barbara Corcoran$250k for 15% equity (#1)
$250k for 20% equity (#2) (With Mark)
Kevin O'Leary Shark Tank Profile Kevin O’LearyNo Offers
Mark Cuban Shark Tank Profile Mark Cuban$250k for 20% equity (#2) (With Barbara)
Daymond John Daymond JohnNo Offers
Lori Greiner Profile for Shark Tank Lori GreinerNo Offers
Founder’s (Countered)$450k for 18% equity (#1) (Barbara & Mark)
$250k for 10% equity (#2) (Barbara)
Final Deals$250k for 10% equity

What Happened To Black Paper Party After Shark Tank?

Black Paper Party got a deal in Shark Tank. Barbara Corcoran founded this business. Barbara has previously invested in several seasonal businesses on Shark Tank, some of which are currently generating millions of dollars in annual sales.

What’s new on Black Paper Party

Last Update: December, 2023

Having appeared on the Shark Tank show, the brand has been featured in many media publications such as CNN, NBC News, and many more. Popular magazine Black Enterprise has featured him.

This episode of Shark Tank was re-aired on December 22, 2023.

Black Paper Party Shark Tank Update

After this business got the deal, we are seeing many changes in the official website and social media of the business. The sales of this business are going to get a huge boost this holiday season. Right now we are following the co-founder and his business for more information.

What Is Black Paper Party’s Net Worth?

Black Paper Party’s net worth is estimated at $3.5 million. Only Christmas lights and decorations Global market size is estimated to be $7.8 billion and including Other Holiday Season, this industry is expected to reach $28 billion in 2023. The bigger the market is, the more competition there is in this industry.

Annual Revenue by Years

Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.

YearsAnnual Revenue
2023$1.1M *estimated
2022$844k *estimated
2021$274k *estimated
2020$44k *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2023$250KBarbara Corcoran

Is Black Paper Party Still In Business?

Three Black Women are focusing on scaling their business and many members have already joined their team. If they need to expand into retail stores with a better marketing strategy, then Barbara Corcoran is a better partner for them.

The headquarters of this company is in Bentonville, Arkansas, United States, and 1-10 employees are working in it.

Yes, Black Paper Party is still in business as of December 2023.

frequently asked questions

Who founded Black Paper Party?

Black Paper Party was founded by Madia Willis, J’aaron Merchant, and Jasmine Hudson.

Did Black Paper Party get a deal on Shark Tank?

Yes, Black Paper Party got a deal on Shark Tank, and Barbara Corcoran invested in this business.