Health is a primary aspect of everyone’s life. Many Americans do barefoot running to improve their health. Xero Shoes has come up with a new range of Barefoot running shoes to promote this culture. Xero Shoes’ technology and design give you the feel of barefoot running but at the same time, they protect your feet from any pointed and sharp material.
Many athletes, sportsmen, and influencers tried Xero Shoes, reviewed it, and gave them a star rating. Before Shark Tank Xero Shoe was making 10-15 sales per day and the annual revenue of the company was $500,000.
Curious to know more about what happened to Xero Shoes after Shark Tank? If yes, then do stick till the end as we have covered everything you need to know about XeroShoes, their current net worth, and their journey after Shark Tank!
What Happened To Xero Shoes After Shark Tank?
Co-founders Steven Sashen and Lena Phoenix, a husband, and wife duo started Xero Shoes in 2009 when Steven tried barefoot running. He pitched this idea to his wife and the couple formed a company named “Feel The World, Inc.”
Steven and Lena appeared in the Shark Tank Season 4 Episode 14. They asked $400,000 against 8% of the company’s stake. Kevin O’Leary made a counteroffer of $400,000 against 50% of the company and the other 3 Sharks – Mark Cuban, Robert Herjavec, and Daymond John didn’t offer any deal but suggested the founders accept Kevin’s deal.
50% stake in the company was too much to give up, and hence, Steven and Lena rejected Kevin’s offer and Xero Shoes didn’t secure any deal on the Shark Tank. But soon after the episode went live, Xero Shoes got 100,000 users on their website and sold more than 2,500 shoe pairs in a few days.
The sales of the Xero Shoes skyrocketed just after the episode aired. Xero Shoes has completed $50 million in revenue in the last year.
Xero Shoes Net Worth
In 2022, the Xero Shoes grew 10 times in revenue. In Shark Tank, Xero Shoes was valued at $800,000 and in 2023 the company valuation increased to $30 million.
In 2024, Xero Shoes’ valuation and net worth are reported $50 million by the CEOs.
Xero Shoes Partnered With Endicia Technology
After the Shark Tank episode aired the sales of the Xero Shoes grew 100 times. To keep up with the fast-paced order and shipping Xero Shoes used Endicia shipping software to keep track of all the orders placed online.
Xero Shoes Update
Xero Shoes are in business and growing 46% year-on-year. In March 2024 Xero Shoes officially announced the first NBA athlete partnership. Xero Shoes ranks 203 in the list of American fast-growing companies.
Also, read What Happened To Fish Fixe After Shark Tank?