Black Paper Party, a company specializing in holiday products for black representation founded by Jasmine Hudson, Madia Willis, and J’Aaron Merchant, telecasted Shark Tank USA in 2023 on Season 15. The founders were seeking $250,000 for 5% equity for their business. However, they secured a deal with Barbara Corcoran, $250,000 for 10% equity. In this article, we will explore Black Paper Party Net Worth in 2024, its Shark Tank pitch summary and more.
Black Paper Party Net Worth
As of 2024, Black Paper Party Net Worth is estimated at $2 million, and its annual revenue was $1.1 million in 2023.
| Net worth | $2 million *estimated |
| Annual Sales Revenue | $1.1 million (2023) |
| Profits | $158,000 (2022) |
| Lifetime sales | $2.2 million (2024) |
| Employees | 2-10 employees |
Black Paper Party Net Worth Timeline
| Net Worth 2024 | $2 million |
| Net Worth 2023 | $1.5 million |
| Net Worth 2022 | $1 million |
Shark Tank Black Paper Party Update from Season 15
Three entrepreneurs, Jasmine, J’Aaron, and Madia, appeared on Shark Tank to present their business, Black Paper Party. They shared that typical holiday wrapping paper doesn’t often reflect the experiences of Black children or their families, which inspired them to create their brand. They asked for $250,000 in exchange for 5% of their company, placing the company’s valuation at $5 million.
The trio behind Black Paper Party is committed to bringing more Black representation into Christmas traditions. Their products include award-winning artwork, luxury wrapping paper, gift bags, decorations, greeting cards, and ornaments, all celebrating diversity.
Kevin began by asking about the SKU (Stock Keeping Unit) items. Jasmine explained that 200 SKU items are sold directly to customers and include licensed products. Kevin then asked about the designer and production. They shared that J’Aaron is responsible for designing all the characters, while Madia transforms these characters into the print patterns used in their graphics.
Kevin then asked about their retail presence, and Madia mentioned that their products are available in six retailers this year, including Macy’s, Walmart, and Target. After Mark asked how many stores carry their products, Jasmine stated that they are in 6,000 stores. Lori then followed up with a question about their sales.
There, Jasmine shared the company’s sales history. Before they started selling in stores, their 2020 sales were $44,000. In 2021, they made $274,000, and by 2022, their sales reached $844,000. That year, they earned a profit of $158,000 after paying themselves a salary. Also, as of the filming year, they were on track to achieve $1.1 million in sales.
The sales numbers impressed all the Sharks. Lori Greiner asked the women about their backgrounds, and they revealed that they all have strong experience in design and retail, which benefits their business. Mark Cuban asked about costs, and Jasmine explained that a roll of wrapping paper sells for $10 and costs $2.33 to produce, making them competitive in the market. Daymond John asked if they plan to expand beyond seasonal products, and Madia confirmed that they will do so soon.
Lori liked the team, but she decided not to invest because she wasn’t interested in seasonal products. Mark questioned whether retail stores are truly profitable for them. Madia explained that they are profitable, but their growth is limited by how many retail accounts they can manage. They had even had to turn down retailers due to time constraints.
At this point, Kevin O’Leary expressed his dislike for their current distribution strategy and decided not to invest. Daymond was unsure about the $5 million valuation and was trying to see how he could make a profit. However, Barbara Corcoran expressed interest in the business and offered $250,000 for 15% equity in Black Paper Party.
Mark then asked Barbara if they could team up on the deal, and she agreed. Together, they offered $250,000 for 20% equity. But Madia countered the offer from Mark and Barbara, asking for $450,000 in exchange for 18% equity. Neither Mark nor Barbara was interested in that deal.
Madia then made a new offer to just Barbara, proposing $250,000 for 10% equity, valuing the company at $2.5 million. Finally, Barbara agreed with them, and left Shark Tank with a deal.
| Company Name | Black Paper Party |
| Founders | Jasmine Hudson, Madia Willis and J’Aaron Merchant |
| Business | Holiday products for Black representation |
| Episode | Season 15, Episode 08 |
| Asked Deal | $250,000 for 5% equity |
| Final Deal | $250,000 for 10% equity |
| Shark | Barbara Corcoran |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Bentonville, Arizona, USA |
Summary of the Sharks’ Deal List!
| Shark | Offer | Counteroffer |
| Barbara Corcoran | $250,000 for 15% equity (Barbara’s offer) | $250,000 for 10% equity (Madia’s offer and Accepted Deal) |
| Barbara Corcoran & Mark Cuban | $250,000 for 20% equity (Barbara and Mark’s offer) | $450,000 for 18% equity (Madia’s counteroffer) |
| Lori Grinear | No | N/A |
| Kevin O’Leary | No | N/A |
| Daymond John | No | N/A |
What Happened to Black Paper Party after Shark Tank?
As of August 2024, the Black Paper Party is still in business. After their Shark Tank appearance, Black Paper Party gained significant media and sales attention. They anticipated driving at least $100,000 in sales from the exposure. Further, they have appeared with major media outlets such as Kelly Clarkson Show, CNN, Today, BuzzFeed, Black Enterprise, Women’s Wear Daily, Bloomberg, and more.
Also, Black Paper Party has exclusive partnerships with Walmart, Target, Macy’s, Dollar General, CVS, and Family Dollar. These partnerships help promote the brand’s unique seasonal products. Walmart features the exclusive “Home for the Holidays” line, which captures the classic Christmas spirit. They also offer a new “Home Fragrance” collection with scents popular in festive Black households.
At Target, you can find the “Mudcloth Christmas” collection, which includes gift bags and wrapping paper with African-inspired patterns. Macy’s offers Black Paper Party wraps and bags for Christmas. Dollar General features family pajamas, and a new collection of party wear with a diaspora theme.
Moreover, Black Paper Party plans to expand its product range to include items for other special occasions like birthdays and Valentine’s Day. They are already doing well and have over 26,000 followers on Instagram. You can also find their products on the Black Paper Party website and Amazon. Their product prices range from $5 to $75, with over 200 products available.
Black Paper Party Founders
Jasmine Hudson, Madia Willis, and J’Aaron Merchant are the founders of the Black Paper Party, which was started in 2020. The idea came from Jasmine in 2020 during the Black Lives Matter movement. She wanted to bring joy during a tough time and noticed that holiday decorations lacked diversity. Then, she teamed up with J’Aaron and Madia to create more inclusive designs for gift-giving.
Jasmine Hudson
Jasmine is an experienced retail entrepreneur who has successfully started and grown major national brands. She is coming from Cincinnati and earned a degree in e-commerce and supply chain management from Tennessee State University. After graduating, Jasmine spent years working in Walmart’s home decor section as a chief merchant. She was responsible for merchandising, including buying and financial planning for portfolios with over $2.3 billion in annual sales.
J’Aaron Merchant
J’Aaron Merchant is from the United States Virgin Islands and earned a BFA from Savannah State University, with additional studies in animation at the Savannah College of Art & Design. She is the artist for the Black Paper Party because she is passionate about showing diversity through art and digital media. J’Aaron has a strong background, having worked on some projects for Disney, Sesame Street, and PBS Kids. Moreover, she also volunteers at Havenwood, a program that helps single mothers overcome homelessness by providing transitional housing and support for self-sufficiency.
Madia Willis
Madia is a Liberian-American designer and business owner living in Washington, DC. She earned her BA from Columbia University and developed a passion for fashion and textiles while studying in Ghana. She later returned to Ghana to start the BiriBelle apparel brand. Further, Madia studied textile design at Central Saint Martins in London, Drexel University, and Philadelphia University.
She worked as a textile designer at Target and was also the creative director for Retention Strategy, helping to promote diversity in Minneapolis. Madia later worked in product development and sourcing at Walmart, where she helped create a $1 billion children’s brand. She also worked at Five Below, where she developed trends and produced seasonal, home, and stationery items.
Black Paper Party Achievements and Awards
| Year | Achievements and Awards |
| 2021 | They won $100,000 at The Workshop at Macy’s Pitch Competition They teamed up with Walmart, and their products became available in stores for the holiday season |
| 2023 | The company was featured on Shark Tank and secured a deal from Barbara Corcoran |
| 2024 | Semifinalist in the Black Ambition Prize competition |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Black Paper Party was one of the ventures featured on the show. They made a deal with Barbara Corcoran, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 08.
