Pink Picasso is a painting business that provides step-by-step painting kits, allowing users to create professional-looking art pieces. Each kit includes a template, canvas, paints, and instructions, making it easy for beginners to produce beautiful paintings. The colors are marked with numbers that correspond to specific areas on the template, guiding users on how to start and complete their artwork.
The business, co-owned by Ashley Silfies and Brittany Silfies from Alabama, was initially known as Modern Monet Kits but later rebranded to Pink Picasso. They started the business in 2019 and have since gained recognition for their original painting images. Pink Picasso was even featured in Oprah’s Favorite Things in 2019 and 2020.
Ashley and Brittany appeared on Shark Tank Season 13, Episode 7, seeking $400,000 for a 5% equity stake in their company, valuing it at $8 million.
Pink Picasso’s products come neatly packaged in tubes that contain everything needed to start painting: instructions, paints, a canvas, and a template. To use the kits, simply match the numbered paints to the corresponding areas on the template. The process is simple and enjoyable, whether you’re a beginner or an experienced artist.
The company offers various kits for adults, kids, and even custom kits where customers can upload their own images. Custom kits are priced at $94, adult kits at $42, and kids’ kits at $28. All products are available on the company’s website and Amazon.
| Company Name | Pink Picasso Kits |
| Founder | Ashley Silfies and Brittany Silfies |
| Founded | Jan 2019 |
| Product | Modern art paint by numbers kits |
| Asked For | $400k for a 5% equity |
| Final Deal | $400k for a 15% equity |
| Shark | Daniel Lubetzky and Lori Greiner |
| Episode (Shark Tank USA) | S13 E7 |
| Air Date | Nov 19, 2021 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Birmingham, Alabama, United States |
| Lifetime Worth (Sales) | $12M *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Another Shark Tank Pitch
Who Is The Founder Of Pink Picasso Kits?
Pink Picasso Kits was founded by Ashley Silfies and Brittany Silfies, two women with diverse backgrounds.
Ashley Silfies earned a Bachelor of Science degree from Auburn University. After graduation, she worked as a Procurement Manager at Tech Candy Cases. In August 2021, she launched another venture called Wear Your Sole, which sells designer shoecases and shoe tattoos.
Brittany Silfies, on the other hand, graduated with a Bachelor of Science degree from the University of Alabama at Birmingham. She co-founded Pink Picasso Kits (under Silfies Holdings, LLC) with Ashley.
Pink Picasso Before Shark Tank
Pink Picasso Kits was founded in January 2019 by Ashley Silfies and Brittany Silfies. Both are mothers who faced numerous challenges and wanted to provide a better life for their children.
Ashley was particularly distressed, concerned about her children’s future, and sought to make a positive change. While reflecting on her situation, she looked at her apartment wall and wondered, “What skills do I have?” With a background in photography and manufacturing, she realized these skills could be the foundation for her new business.
Ashley and Brittany decided to pitch their business on Shark Tank to secure investment and expand their venture nationwide.
How Was The Shark Tank Pitch Of Pink Picasso?
Ashley and Brittany entered Shark Tank with their company, Pink Picasso, seeking $400,000 for 5% equity. They shared their business journey and demonstrated their product to the sharks.
Kevin O’Leary remarked that with a request for $400,000 for 5% equity at an $8 million valuation, they must have substantial sales. The business, which started in 2019 with a product valued at $1,500, quickly sold out and became a winner in Oprah’s Favorite Things. They achieved $1.3 million in sales in their first year. Sales reached $3.5 million in 2020, with their 16×20 adult kits costing $3.77 to make, landing at $4, with wholesale at $19 and retail at $42.
In 2021, they had made $1.4 million in sales, and Ashley projected $5 million by year-end. Their profit margin in 2020 was $900,000. Lori Greiner questioned why they needed a shark despite the business’s profitability.
The founders explained they needed a mentor to take their business to the next level and aimed to secure licensing deals with Disney World and Disneyland.
Kevin O’Leary offered $400,000 for 33.3% equity. Daniel Lubetzky and Lori Greiner teamed up with an offer of $400,000 for 20% equity.
Barbara Corcoran initially believed the business did not need a shark and declined. However, she later returned with an offer of a $400,000 loan at an 8% interest rate for 5% equity, promising to help structure the company. Kevin O’Leary revised his offer to $400,000 for 3% equity plus a $6 royalty per kit sold.
The founders countered Daniel and Lori’s offer, proposing $400,000 for 15% equity, to which Daniel agreed.
Finalize: Daniel Lubetzky and Lori Greiner invest $400k in “Pink Picasso” for 15% equity.
What Happened To Pink Picasso After Shark Tank?
Pink Picasso secured a deal on Shark Tank. Both Daniel Lubetzky and Lori Greiner invested $400,000 in the company, valuing it at $2.6 million. Although the business was profitable before appearing on the show, the sharks offered their help to refine the company’s structure.
The business’s strong profit margin contributed to its continued success. Following the Shark Tank episode, there was significant discussion on Twitter. Lori Greiner conducted a Twitter poll asking, “Would you guys buy this?? #PinkPicasso.” The results showed that 57.9% of people said “no,” while 42.1% said “yes.”
In April 2022, Pink Picasso was featured on the Today Show and its Kids kits won Oprah’s Favorite Things for 2022.
After the Shark Tank episode aired, the company saw a boost in sales, with many customers purchasing painting kits from Amazon and the company’s website.
As of December 2022, there was no evidence that Lori and Daniel had closed the deal. However, the business was operating with an annual revenue of $5 million.
We will continue to follow Ashley Silfies and Brittany Silfies for further updates on their company.
What Is Pink Picasso Net Worth?
The company’s valuation during its Shark Tank appearance was $8 million. However, after negotiations, Pink Picasso’s valuation was adjusted to $2.6 million.
Pink Picasso ships its products nationwide and makes them available to global customers through Amazon. The company is gradually expanding its product lines and has already launched over 25 products.
Recently, Pink Picasso introduced new items, including the Violet Van Gogh kit. The company plans to continue expanding its product offerings in the future.
Pink Picasso has over 500 retail stores across Canada, the United States, Italy, and Mexico City. The majority of the company’s income comes from these retail locations.
While the product has not achieved high sales on Amazon, it holds a rating of 4.3 out of 5 stars.
The company has been featured in several media outlets, including Today, Good Morning America, and The Kelly Clarkson Show.
Yes, Pink Picasso is still in business as of December 2022.
How much is pink Picasso worth?
The current worth of Pink Picasso is $2.6 million and it can expand further in the years to come.
Are the owners of Pink Picasso a couple?
Ashley Silfies and Brittany Silfies both are the wife-wife team of this company.
When was Pink Picasso on Shark Tank?
Pink Picasso appeared on Shark Tank Season 13 Episode 7 on Nov 19, 2021.
Did Pink Picasso get a Shark Tank deal?
Pink Picasso got a deal on Shark Tank. Daniel Lubetzky and Lori Greiner invested $400k in the company in exchange for 15% equity.
