Marc Herzberger and Cheng Kue pitched their footwear company, The Hypd, on Shark Tank Season 21, seeking $125,000 for a 5% equity stake at a $2.5 million valuation. The company specializes in custom slide footwear that features easily changeable straps.
Marc is an accountant who completed his studies at the University of Colorado Boulder. Cheng is a product designer with experience at well-known footwear companies such as Adidas, Fila, and Crocs Inc. He started The Hypd in May 2018.
| Company Name | The Hypd Co | |
| Founder/Co-Founder | Marc Herzberger and Cheng Kue | |
| Founded | May 2018 | |
| Product | Custom Slides Footwear | |
| Asked For | $125k for 5% equity | |
| Final Deal | $100k + $250k line of credit for 25% equity | |
| Shark |  Barbara Corcoran | |
| Episode (Shark Tank USA) | S15 E21 | |
| Air Date | April 19, 2024 | |
| Business Status | In Business | |
| Website | Visit Website | |
| Headquarters | Denver, Colorado, USA | |
| Lifetime Worth (Sales) | $700k *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Another Shark Tank Pitch
How Was The Shark Tank Pitch Of Hypd?
The Hypd offers Shark Tank-themed custom slide footwear and sells products through D2C, wholesale, and dropship models.
They hold a utility patent for their product and have generated approximately $500,000 in sales over the past four years (2018-2022). In 2023, they have already made $60,000 in sales, compared to $55,000 last year.
This year, they plan to expand their licensing deals. The retail price is $60, the wholesale price is $30, and the manufacturing cost for each pair is $10.90.
Lori Greiner opted out, citing significant competition in the market. Kevin O’Leary also declined to invest, noting that the founders did not know the customer acquisition cost of their product.
Mark Cuban expressed no interest in the slide footwear business, and Michael Rubin stated that the business isn’t large enough for his investment.
Barbara Corcoran offered $62,500 in cash plus a $62,500 line of credit in exchange for 25% equity in the company. Marc countered with an offer of $350,000 for 25% equity.
Barbara then revised her offer to $100,000 in cash plus $250,000 as a line of credit for 25% equity, which Marc and Cheng accepted.
Sharks Offers list!
| Sharks | Offers |
|---|---|
 Michael Rubin | No Offer |
 Kevin O’Leary | No Offer |
 Mark Cuban | No Offer |
| Barbara Corcoran | $62.5k + $62.5k line of credit for 25% equity (#1) $100k + $250k line of credit for 25% equity (#2) |
 Lori Greiner | No Offer |
| Founder’s (Countered) | $350k for 25% equity |
| Final Deals | $100k + $250k line of credit for 25% equity |
Hypd Shark Tank Update
After scouring the internet, we found that Cheng is currently the full-time Chief Product Officer at People Footwear Company, while still serving as a co-founder of The Hypd.
As of April 21, 2024, the retail price of Custom Slides Footwear on the company’s website is $60. Recently, they launched a Shark Tank-themed slide called the “Limited Edition Shark Bill Slider Pro,” priced at $50.
What Is Hypd Company’s Net Worth?
According to current data, the company’s lifetime sales amount to $500,000, while its equity value is estimated at $1,400,000 (calculated as $100,000 + $250,000 / 0.25). We project sales in 2023 to reach $200,000. After subtracting the equity value from the total assets, The Hypd Company’s net worth is estimated to be −$450,000.
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.
| Years | Annual Revenue |
| 2024 | *estimated |
| 2023 | $200k *estimated |
| 2018-2022 | $500k |
Funding Reports to Date!
| Years | Funding Amount | Investor |
| 2023 | $350k | Barbara Corcoran |
