Little Elf Gift Wrap Cutter is a unique product that is capable of cutting the wrapping paper into proper shape that too with ease. This product is from Little Elf Products, Inc., a company founded by Bryan Perla.
When Perla was in his senior year at Vinchendon School, he made a prototype device that could help cut wrapping paper. He created Little Elf when he saw his family and friends struggling to cut wrapping paper.
In 2016, he officially launched his company Little Elf Gift Wrap Cutter. On April 24, 2018, he launched a crowdfunding campaign on Kickstarter and raised $130,125 from this campaign.
To grow the business, Perla decided to pitch in Shark Tank. He appeared on Shark Tank Season 11 Episode 9 and asked the sharks for $150,000 for 15% equity at a $1.1 Million Valuation.
What Is Little Elf Gift Wrap Cutter?
Little Elf Gift Wrap Cutter also known as Little Elf Products, Inc. is a company that manufactures wrapping paper cutter devices.
Two products from this company are Little Elf Gift Wrap Tape and Little Elf Gift Wrap Cutter which works by cutting and gluing wrapping paper.
At the time of gift wrap, the work becomes very easy with these two devices. You can buy these products from Amazon and the company website.
|Company Name||Little Elf Gift Wrap Cutter|
|Product||Easy gift wrap and paper cutter|
|Asked For||$150k for 15% equity|
|Final Deal||$150k for 20% equity|
|Episode (Shark Tank USA)||S11 E9|
|Air Date||Dec 1, 2019|
|Business Status||In Business|
|Headquarters||West Boylston, Massachusetts, US|
|Lifetime Worth (Sales)||$3.3M *estimated|
|Buy and Watch||Buy Now||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of Little Elf Gift Wrap Cutter?
Bryan Perla is the founder and CEO of Little Elf Gift Wrap Cutter Company, he started his business journey from high school.
He has studied Bachelor of Engineering in Product Design at Stanford University.
How Was The Shark Tank Pitch Of Little Elf Gift Wrap Cutter?
After entering Shark Tank, Bryan Perla asked the sharks for $150k for 15% equity. The retail cost of a two-pack is $13.99 on Amazon and $5.99-$7.99 on the company site. The making cost of the product is $2.09.
He’s done $250,000 in sales so far in 2019. Lori Greiner offered $150k for 30% equity. Kevin O’Leary also offered $150k for a 10% equity + a royalty of $1 per unit until $450k is paid.
Lori changed the offer to $150k for a 10% equity + a royalty of $0.75 per unit until $450k is paid. Kevin also changed the offer to $150k for a 10% equity + a royalty of $0.50 per unit until $450k is paid.
Lori Greiner made another offer of $150k for 20% equity. Bryan accepted Lori’s offer.
What Happened To Little Elf Gift Wrap Cutter After Shark Tank?
Little Elf gift wrap cutter got a deal on Shark Tank. After this episode of Shark Tank aired, the sales of this product increased a lot on Amazon and other e-commerce platforms.
There are many people who ordered this product for their daily work and started using it because this product is easier than other wrap cutter devices.
The video of Little Elf’s Gift Wrap Cutter device went viral on the social video-sharing platform Tiktok and garnered over 10,000 positive reviews in the comments section of the video.
In 2022, the annual sales of this company were up to $ 1 million.
What’s new on Little Elf
Last Update: August 10, 2023
Little Elf products are currently available at Walmart, Target, Hobby Lobby, CVS, Kroger, Bed Bath & Beyond, and other retail stores nationwide. This product is best-selling on Amazon in Gift Wrap Paper Category.
As of August 2023, the company’s annual revenue is running at $1.2 million.
Little Elf Gift Wrap Cutter Shark Tank Update
After this episode of Shark Tank aired, the demand for Little Elf Gift Wrap Cutter products increased a lot. Many people have ordered this product and are using this product for their daily work. Right now we do not have much information available related to this company.
What Is the Net Worth of Little Elf Gift Wrap Cutter?
The current net worth of Little Elf Company is estimated at $1 million. When Bryan was studying at Stanford University, he was a junior student and he was not able to give full time to his business. After graduating in June 2022, he started giving full-time to his business.
Is Little Elf Still In Business?
Little Elf company has been running since 2016 and Bryan is looking to invent new products to grow his company.
The company is headquartered in West Boylston, Massachusetts, United States, and employs 2-10 people, according to its LinkedIn profile.
Yes, Little Elf is still in business as of August 2023.