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We come back with yet another update on a revolutionary Shark Tank product named “Foot Fairy App.” The name sounds super cute, right? Well, it is meant for kids. This app makes the work of parents super easy.
No more guessing which size shoe would fit your child, as the app tells you the exact size of your child’s foot with a click on your phone. In this article, we will mainly discuss what the app is, how it works, a little bit about the founder, and what their offer is on SharkTank.
Did they get a deal? And what changes did appearing on SharkTank bring to their business? So without further ado, let’s get started!
Foot Fairy App Key Highlight
- Foot Fairy App is a revolutionary app invented by Drs. Sylvie Shapiro and Nicole Brooks, it’s an iPad app that helps parents measure their kids’ foot size accurately within a few seconds, too, at home.
- Mark Cuban saved the day by making a deal. He offered Dr. Duo $100,000 for 40% of the company. The founders, Drs. Sylvie and Nicole, gladly accepted the offer.
- If we look into the networth of the short lived online app company Foot Fairy, we will find that the highest net worth this app ever had was $500,000.
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What is the Foot Fairy App?
Foot Fairy App is a revolutionary app invented by two medical specialists who joined hands to end one of the worst nightmares of a parent: the toddler shoe trial. Parents do want to go through the tedious process of trying on shoe after shoe just to find the right fit for their kid.
Meanwhile, kids can find the first time finding a shoe for their tiny feet very boring. So to make the process quick and easy, Foot Fairy is an iPad app that helps parents measure their kids’ foot size accurately within a few seconds, too, at home!
All the parents need to do is place their child’s foot on the screen of the tablet, line up the heel, and wait for a chime sound from the app. The sound indicates that their foot has been scanned, and the accurate size will be displayed on the screen. The app can also redirect parents to Zappos to buy their kids’ footwear.
Who Is The Founder Of the Foot Fairy App?
Foot Fairy was founded by Drs. Sylvie Shapiro and Nicole Brooks. Dr. Sylvie Shapiro is a podiatrist, and Nicole Brooks is a licensed family therapist. Both are hardworking women with happy families. They both try their best to maintain work-life balance and find ways to make things easier.
This is when the idea of the “Foot Fairy App” arose in their minds. Like most parents, they too have gone through the tedious process of show selection. To make their work as well as other parents’ work easier, they decided to build the Foot Fairy App.
Dr. Sylvie is also the founder of DrShoeMom.com, which recommends kids shoes, and Planet Flops.com, which is a site that sells eco-flip flops.
| Founder | Sylvie Shapiro, Nicole Brooks |
| Business | Foot-Measuring Application |
| Ask | $75,000 in exchange for 15% equity |
| Deal | $100,000 in exchange for 40% equity |
| Click here |
Foot Fairy App offering for the investor?
Foot Fairy App impresses the Sharks with their innovative idea and the importance of such a product in the market. So Dr. Sylvie Shapiro and Nicole Brooks set a deal of $750,000 for 15% equity in front of the Sharks.
The Sharks were impressed by the technology and the efforts of the pitchers but were skeptical about the app and whether it would be able to maintain its originality.
Did the Foot Fairy App get a deal on shark tank?
Initially, it seemed that the Foot Fairy app might not get a deal from any of the sharks. The Sharks thought that the idea of the Foot Fairy App could be replicated by bigger shoe companies; even the sharks sitting there would be able to develop such an app, so Kevin and Robert declined the offer.
Lori feels it is still early for the app, and it needs to grow before getting any of the sharks to invest in it, so she declines the offer. Barbara had initially shown interest in the app, but she soon realized it would be difficult to get back the money she invested in it.
So she’s out. Finally, Mark Cuban saved the day by making a deal. He offered Dr. Duo $100,000 for 40% of the company. The founders, Drs. Sylvie and Nicole, gladly accepted the offer.
How the Foot Fairy App started ?
Before appearing on SharkTank Season 5 on May 16, 2014, the Foot Fairy App used to work in partnership with online shoe vendor Zappos. The app was the brainchild of Dr Sylvie and Nicole, who wanted to promote kids’ foot health and provide a practical solution for purchasing children’s shoes online.
The Foot Fairy app is free to use, and the only requirement for the app is a tablet. Although the founders had a commission with Zappos, Zappos has never promoted the app or announced a collaboration with the app. The app was one of the few that addressed the issues parents face with their tiny tots, and this impressed the Sharks.
| Shark | Mark Cuban |
| Season | Season 5 episode 29 |
| Status | Out of business |
| Website | Click here |
What happened to the Foot Fairy App Before Shark Tank?
Before SharkTank, the valuation of the company was $500,000. According to the founders, their app has an 18% click rate (which is quite outstanding for an app like this) and 13,444 downloads.
Through commission, the duo earned $2500 within three weeks of the app’s launch. They had come to SharkTank so that they could get investors to invest in their app, which would help to improve the back-end structure of the app.
Before shark tank company fact and figure
Before Shark tank the app was growing slowly but steadily. It has become a practical solution for parents to find their child’s foot size.
The app was launched just three weeks before its pitch in SharkTank so as expected not much growth was visible however there was potential of growth because of the increasing click rates and earning of $2500 profit within three weeks of launch.
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What happened to the Foot Fairy App after shark tank?
Foot Fairy App worked smoothly for 6 months. Within the 6 months the app helped numerous downloaders to find the right size for their kid’s footwear and thus prevent foot related issues in their children in the long run. Mark Cuban’s $100,000 helped to improve the structure and other technicalities of the app.
After or recent shark tank company fact and figure
The company reached its all-time high by generating $250,000 but then right after 6 months the app had to be shut down. The app had many problems since the beginning which went unnoticed and after 6 months these problems led to the app’s downfall.
Why did Foot Fairy App go out of business?
The downfall of the app started when it started getting competition in the App Store. Besides, the app also suffered neglect as Dr. Sylvie had two other shoe-related online businesses and Nicole had to take care of her company, Stryke Club.
Soon, the Foot Fairy app developed a technical glitch that isn’t fixed as of today. Today, the competitors of the Foot Fairy app thrive while the original app is down.
Are there any products like Foot Fairy App in the market now?
Sadly the Foot Fairy App does not exist according to many websites. However it is still available on the App store. Though we wouldn’t advise you to use it as it still has the technical glitches that led the app to its downfall. The download rate and the click rate have also reduced. However if you want to buy shoes, you can directly go to Zappos.
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How much is the Foot Fairy App’s net worth?
If we look into the networth of the short lived online app company Foot Fairy, we will find that the highest net worth this app ever had was $500,000. Then within six months after appearing on SharkTank, the company had to shut down. This brought the networth of the company down to $0.
After shark Tank valuation
After Shark Tank, within six months the app had to shut down. This resulted in the networth to drop down to $0 and so did the company valuation. Unfortunately Foot Fairy could not survive due to technical difficulties.
Before shark Tank valuation
Before SharkTank, the Foot Fairy app had a valuation of $500,000 which was quite good for an app for parents. The App mostly earned from the commissions it received from Zappos and Mark Cuban’s offer in Shark Tank helped them in their short yet business venture.
FAQ About Foot Fairy App
1. What is Foot Fairy App?
Foot Fairy App is a revolutionary app invented by two medical specialists who joined hands to end one of the worst nightmares of a parent: the toddler shoe trial.
2. Who is the founder of Foot Fairy App?
Foot Fairy was founded by Drs. Sylvie Shapiro and Nicole Brooks.
3. How much is the Foot Fairy App’s net worth?
If we look into the networth of the short lived online app company Foot Fairy, we will find that the highest net worth this app ever had was $500,000. Then within six months after appearing on SharkTank, the company had to shut down and now its $0.
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