Glove Wrap Net Worth 2024 Update & Their Shark Tank Pitch!

Shark Tank Glove Wrap, a baseball and softball glove wrap founded by John, Gavin, and Morgan Batarse, entered Shark Tank USA in 2023 on Season 15. The founders were seeking $50,000 for 20% equity for their business. However, they secured a deal with Mark Cuban and Michael Rubin, $50,000 for 22% equity. In this article, we will explore Glove Wrap’s net worth in 2024, its Shark Tank pitch summary and more.

Glove Wrap Net Worth

As of March 2024, Glove Wrap’s net worth is $0.1 million, and its annual revenue is not disclosed. 

Glove Wrap Net Worth Timeline

Shark Tank Glove Wrap Update from Season 13 

In the Shark Tank, John Batarse and his 8-year-old son Gavin and daughter Morgan were seeking $50,000 in exchange for a 20% stake in their company, valuing at $250K. They effectively presented their business, Glove Wrap, to the sharks. Initially, Lori Greiner inquired about how the idea originated. Gavin then explained that the concept stemmed from his father buying a new baseball glove for him.

One day, Gavin and Morgan, who both play baseball and softball respectively, approached their father with a large piece of rubber and shared their idea. John, their father, quickly recognized the potential and thought it was a great concept. Then, John decided to conduct an online search to look for similar products, but he found none. Encouraged by this discovery, he teamed up with Gavin to launch the business.

Kevin O’Leary asked about sales, and Gavin said, They’ve achieved sales of 1,000 gloves, totaling over $19,000. Each glove costs $3 to produce, retails at $19.99, and wholesale for $10. Barbara Corcoran inquired about the product’s distinctiveness in relation to exercise bands. John stressed that although Glove Wraps may have some similarities with exercise bands, their design is specifically crafted to meet the exact requirements of gloves.

Mark recognized the product’s potential and imagined its application in professional baseball clubs, especially as giveaways for fans. Kevin O’Leary jokingly suggests that if he agreed a deal with Gavin, Gavin would have to quit school and commit full-time to the company. So, Kevin expressed his disapproval and decided not to invest.

Lori decides to step out because she believes other sharks with a sports background could offer more helpful advice. Despite Barbara mentioning that an exercise band could serve a similar purpose, she still sees the potential in the product. Furthermore, she chose not to invest, suggesting that Mark would be the ideal partner for Gavin going forward.

Guest Shark Michael Rubin recognizes the value of Gavin’s product and offers to make a deal contingent on Mark’s involvement. Mark agrees, and they jointly propose $50,000 for 22% equity, valuing at $227K. Finally, Gavin accepts the offer.

What Happened to Glove Wrap after Shark Tank?

As of March 2024, the Glove Wrap is still in business. Glove Wrap is a specialized elastic band designed to match the width, shape, and thickness of a glove precisely. It serves as a tool for players to shape their gloves effectively. Consequently, players can enhance their performance on the field with ease. After featuring in Season 15, Episode 03 of Shark Tank, Glove Wrap saw a notable increase in attention and witnessed a surge in its business. 

Glove Wrap has 100,000 followers on social media, like Instagram, TikTok, and Facebook, with about 30 million views. With ongoing publicity efforts and the partnership deal with Michael and Mark, there’s significant growth in the business. You can purchase your Glove Wrap through their website.

Glove Wrap Founder

John, Gavin, and Morgan Batarse are the founders of Glove Wrap. The company started in 2022. The Batarse family, residing in Orange County, California, comprises eight-year-old Gavin Batarse, his father John, who is his baseball coach, and his sister Morgan.

In August 2023, a social media post depicted Gavin distributing Glove Wraps to players from the Dodgers and Angels, enhancing publicity. Additionally, Gavin received coverage in an LA Times article. Gavin’s video showing glove wraps given to Texas Rangers and California Angels players went viral on TikTok, getting 5.5 million views. 

Currently, Gavin Batarse serves as the President and CEO of Glove Wrap Company, with his father, John Batarse, assisting him in business operations. John, Gavin, and Morgan Batarse’s net worth is unknown as of March 2024.

Glove Wrap Achievements and Awards

Conclusion

Shark Tank is a TV show showcasing different business ideas, helping them succeed. Glove Wrap was one of the ventures featured on the show. They made a deal with Mark Cuban and Michael Rubin, 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 03. 

• Wellingtons Net Worth 2024 Update & Their Shark Tank Pitch!
• Bot-It Net Worth 2024 Update & Their Shark Tank Pitch!
• Dating By Blaine Net Worth 2024 Update & Their Shark Tank Pitch!

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