The Hypd Company Shark Tank Update (Season 15)

Marc Herzberger and Cheng Kue pitched their footwear company, The Hypd, on Shark Tank Season 21, seeking $125,000 in investment for a 5% equity stake at a $2.5 Million Valuation. The company sells custom slide footwear and it has the facility to change the strap easily.

Image via dgepress

Marc is an accountant, he completed his accounting studies at the University of Colorado Boulder. Cheng is a product designer and has worked at popular footwear companies Adidas, Fila, and Crocs Inc. Cheng started this company in May 2018.

Company NameThe Hypd Co
Founder/Co-FounderMarc Herzberger and Cheng Kue
FoundedMay 2018
ProductCustom Slides Footwear
Asked For$125k for 5% equity
Final Deal$100k + $250k line of credit for 25% equity
SharkBarbara Corcoran Barbara Corcoran
Episode (Shark Tank USA)S15 E21
Air DateApril 19, 2024
Business StatusIn Business
WebsiteVisit Website
HeadquartersDenver, Colorado, USA
Lifetime Worth (Sales)$700k *estimated
Buy and WatchBuy NowAmazon Prime

Another Shark Tank Pitch

How Was The Shark Tank Pitch Of Hypd?

Based on the Shark Tank-themed custom slides footwear they gave to the sharks. They sell products through D2C, wholesale, and dropship models.

They have a utility patent for the product and have made sales of approximately $500,000 in the last 4 years (2018-2022). So far in 2023, they have made $60,000 in sales and last year’s sales were only $55,000.

This year they plan to expand their licensing deals. The retail cost is $60, the wholesale cost is $30, and the manufacturing cost of each pair is $10.90.

Lori Greiner is not interested in this product because there is a lot of competition, so she is out.

Kevin O’Leary refused to invest in this business because the founders did not know the customer acquisition cost of the product.

Mark Cuban has no interest in the Slide footwear business. Michael Rubin said that this business is not that big right now so he cannot invest.

Barbara Corcoran offered a deal of $62,500 in cash plus a $62,500 line of credit in exchange for a 25% equity in the company. Marc countered $350,000 in exchange for a 25% equity.

Barbara made another offer of $100k cash plus $250k as a line of credit for a 25% equity. Marc and Cheng accepted this deal.

Sharks Offers list!

Michael Rubin Michael RubinNo Offer
Kevin O'Leary Shark Tank Profile Kevin O’LearyNo Offer
Mark Cuban Shark Tank Profile Mark CubanNo Offer
Barbara Corcoran Barbara Corcoran$62.5k + $62.5k line of credit for 25% equity (#1)
$100k + $250k line of credit for 25% equity (#2)
Lori Greiner Profile for Shark Tank Lori GreinerNo 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 for some time, we found out that Cheng is currently a full-time Chief Product Officer at People Footwear Company. However, he is still the co-founder of The Hype Company.

After visiting the company’s website on April 21st, 2024, we found out that the current retail price of Custom Slides Footwear is $60.

Recently they have launched a shark tank-themed slide named “Limited Edition Shark Bill Slider Pro” and the price has been kept at $50.

What Is Hypd Company’s Net Worth?

According to current data, the company’s lifetime sales are $500,000 and its equity value is $1,400,000 ($100,000+$250,000/0.25). We are assuming that sales in 2023 will be $200k. After minus equity value and total assets, Hypd Company’s net worth is estimated at −$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.

YearsAnnual Revenue
2024 *estimated
2023$200k *estimated

Funding Reports to Date!

YearsFunding AmountInvestor
2023$350kBarbara Corcoran
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