Ooakshell $150,000 Shark Tank Deal with Emma Grede Update

Great businesses often begin with a simple idea born out of necessity and passion. The journey of Ooakshell and its founder, Mika Bertholdo, shows how personal adversity can spark business innovation. When Bertholdo entered the Shark Tank in Season 13, she brought not only a unique product but also a compelling story of resilience, creativity, and the search for balance between entrepreneurship and family.

Founding Story: From Personal Challenge to Unique Solution

The inspiration for Ooakshell was born from Bertholdo’s own struggle with postpartum hair loss after her second child. Dissatisfied with existing headbands, which either squeezed too tightly, slipped off, or failed to provide the desired coverage, she began making her own. Each headband featured a distinctive ring-based adjustment system, allowing for customizable fit and style, and was hand-dyed for a one-of-a-kind look.

Bertholdo started selling her creations on Etsy, quickly realizing there was a broader market for her solution. She soon launched her own website, handling every aspect of the business herself, from design and production to marketing and shipping. The brand name, she explained, stands for “one of a kind,” a commitment reflected in every product she made. 

The Shark Tank Pitch: Ask, Valuation, and Emotional Highs

By the time she appeared on Shark Tank, Bertholdo had grown Ooakshell to $386,000 in year-to-date sales, with a remarkable 81% customer return rate and profit margins exceeding 95%. She entered the Tank seeking $150,000 for 10% equity, valuing the company at $1.5 million.

Her pitch resonated deeply with the Sharks, not just for its numbers but for her vulnerability. When guest Shark Emma Grede expressed interest, Bertholdo became emotional, clearly demonstrating how much the opportunity and support meant to her as a solo founder balancing business and family.

The Deal: Strategic Partnership with Emma Grede

While other Sharks stepped out, citing concerns about scalability, lack of a team, and the absence of a patent, Grede saw both the potential and the founder’s need for support. Grede offered $150,000 for 20% equity, highlighting her extensive experience in the fashion industry and her ability to help scale the business. When Bertholdo countered with 13%, Grede stood firm, emphasizing the value she would bring in manufacturing and retail connections.

After careful consideration, Bertholdo accepted the deal, adjusting the company’s valuation to $750,000.

Pros, Concerns, and Shark Insights

Pros of the Deal:

• Industry Expertise: Grede’s track record with Good American and SKIMS offered invaluable guidance.
• Operational Support: Access to manufacturing, distribution, and marketing infrastructure.
• Financial Relief: The investment allowed Bertholdo to move beyond a one-woman operation.
• Mentorship: Direct support from a leader in an inclusive fashion.

Concerns Raised:

• Equity Cost: Giving up 20% instead of 10% reduced Bertholdo’s ownership.
• Scalability: The hand-dyed, artisanal process would be hard to maintain at scale.
• Brand Identity: Risk of losing the personal touch that made Ooakshell unique.
• Dependency: Reliance on Grede’s continued involvement.

Other Sharks, like Mark Cuban, admired Bertholdo’s work ethic but worried about sustainability, while Lori Greiner and Kevin O’Leary pointed out concerns over a lack of a team and a patent, respectively.

Lessons for Entrepreneurs

Ooakshell’s Shark Tank journey offers several takeaways:

• Authenticity Wins: Bertholdo’s story and vulnerability build instant rapport and trust.
• Know Your Numbers: Detailed metrics on margins, sales, and customer retention impressed the Sharks.
• Recognize When to Seek Help: Admitting the need for support was pivotal in securing the deal.
• Value Strategic Partnerships: Sometimes, the expertise and network a partner brings outweigh a higher valuation.
• Test Before Scaling: Starting on Etsy allowed Bertholdo to validate her product before expanding.

Where Ooakshell Stands Today

Since Shark Tank, Ooakshell has flourished. The company closed its deal with Grede and has surpassed $375,000 in sales since the episode aired. Bertholdo has expanded her product line, moved production to a dedicated facility, and now employs a team to help meet growing demand. The brand remains committed to its “one of a kind” ethos, now offering more headband styles, clothing, and accessories.

Ooakshell’s story shows that the best businesses often start with a personal problem, and that the right partnership can transform both the entrepreneur’s life and the company’s future.