What Happened To JesKa Shoe Company After Shark Tank?
Sophia Edwards Jessica Haynes joined the ranks as a "Shark Tank" business in 2013. She came in seeking $70,000 in exchange for 30% equity in JesKa Shoe Company. That buy-in valued her fashion brand around a quarter of a million dollars. It's a reasonable request, however, Haynes did not have any sales or a ready-for-market product. Her interchangeable heels with magnet technology were only a prototype. She didn't have any revenue but did have what Barbara Corcoran looks for in an entrepreneur before investing — ambition.
Despite her company only being a baby, Haynes believed in the concept. She had already invested $63,000 of her personal wages into the business. Daymond John, the fashion guru of the investor panel, was the only Shark interested. However, the 30% equity Haynes was willing to give up ended up being the percentage she was left with. John acquired 70% of JesKa Shoe Company for $70,000, valuing Haynes' business at $100k.
John, who also invested in the most successful "Shark Tank" business Bombas, promised to help Haynes break into the shoe industry. Still, just a year after airing, Haynes updated fans with unfortunate news.