The Ooakshell is an adjustable headband designed to effectively cover hair loss, according to the founder. The company was established in September 2018 in Selina, Texas, with the goal of addressing more than just hairline concerns.
Their website offers various types of headbands, including low ties, hair ties, and rings. These rings come in different colors and help keep the headband securely in place.
| Company Name | Ooakshell |
| Founder | Mika Bertholdo |
| Founded | Sep 2018 |
| Product | Adjustable hair bands |
| Asked For | $150k for 10% Equity |
| Final Deal | $150k for 20% Equity |
| Shark | Emma Grede |
| Episode (Shark Tank USA) | S13 E22 |
| Air Date | May 6, 2022 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Celina, Texas, United States |
| Go To Amazon | Find on Amazon |
Who Is The Founder Of Ooakshell?
Mika Bertholdo is the founder and CEO of The Ooakshell, and she is also a mother of two children. After the birth of her second child in 2018, she began selling this product. In 2020, she launched sales through her website.
Mika completed her Bachelor of Science in Biology at UC San Diego.
How Was The Shark Tank Pitch Of Ooakshell?
Founder Mika Bertholdo delivered an impressive presentation on Shark Tank, capturing the sharks’ interest. She conducted a full demonstration of her product, effectively showcasing its features.
The handmade band is priced at $35 and costs $1.64 to produce, resulting in a margin of over 95%. In 2019, the company’s sales reached $12,000, which grew to $245,000 in 2020, and reached $386,000 so far in 2021—all achieved without any marketing expenditures.
Mika focuses her marketing efforts on social media, emphasizing the uniqueness of each band. All sales come directly from her website, with no wholesale distribution, and her customer return rate is an impressive 81%, which Mark Cuban described as a world record.
Emma Grede expressed interest in making an offer: $150,000 for 20% equity. Bertholdo countered with an offer of 13% equity, but Emma stood firm at 20%. Ultimately, Bertholdo agreed to give 20% equity in exchange for the investment.
Finalize: Emma Grede invested $150K in “Ooakshell” for a 20% equity.
What Happened To Ooakshell After Shark Tank?
Ooakshell secured a deal on Shark Tank, showcasing impressive sales rates and a profit margin exceeding 95%. Additionally, the company boasts an 81% return rate among its 2,000 customers.
During her Shark Tank pitch, Bertholdo expressed her goal to sell 10,000 units of handmade headbands by 2022. In addition to the headbands, the company also sells rings priced at $4 each.
On September 24, 2022, the company shared a photo of Mika and Emma on its official Instagram handle, coinciding with Emma Grede’s birthday. As of November 2022, Emma had not finalized the deal with the company.
In Shark Tank Season 14, Episode 7, the progress report for Ooakshell was presented. Bertholdo delivered her pitch with enthusiasm, managing the business alongside her husband while caring for their child. She later shared a video on her company’s Instagram account, announcing that she would be working with her two daughters in 2023.
By November 2022, Ooakshell had generated approximately $375,000 in sales. Thanks to the business’s growth, the founder moved operations to a new 15,000-square-foot warehouse and office.
We will continue to follow Mika Bertholdo and her company for further updates.
What Is The Ooakshell Net Worth?
The annual growth of Ooakshell is impressive, indicating rapid progress for the business. With a strong profit margin, we estimate that after assessing its assets and liabilities, Ooakshell is valued at approximately $750,000.
Yes, Ooakshell is still in business as of November 2022.
