Tuesday, October 22, 2013

RuffleButts founder gets $600K on ABC's 'Shark Tank'

Charlotte-based Amber Schaub, CEO and Founder of RuffleButts appeared on ABC's "Shark Tank" Friday, Oct. 18, where "shark" Lori Greiner offered her a $600,000 investment for 9 percent equity in the company.

Schaub, who founded the children's apparel company with a signature baby bloomer in 2007,  has since grown her collection to include dresses, tutus and accessories, as well as RuggedButts, an extension of the original line for boys.

The "frilly girly" apparel has been featured on "American Idol" and the "Ellen Degeneres Show." They've been a favorite of some Hollywood celebrities, including Jessica Alba and Tori and Dean Spelling.

The company is ranked No. 166 on the Inc. 500 list, a list of the fastest-growing privately owned companies in the U.S.

The show involves a panel of "Shark" investors who hear business pitches and product ideas from some of America's brightest entrepreneurs. If they hear a great idea, they offer cash in exchange for equity in the company. Sometimes a fight between sharks will break out.

Schaub pitched to the sharks along with her husband and Chief Operating Officer Mark Schaub, and her two young children, Aubrey and Jonas.

"A new round of funding will help Schaub take RuffleButts to the next level by adding on a strong and experienced executive team, as well as expanding the marketing budget to attract new retailers and customers," according to a press release.

Greiner, who decided to invest in RuffleButts, is known as the "Queen of QVC."

“Being allowed the opportunity to appear on Shark Tank and share RuffleButts on a national platform was a dream come true,” said Schaub. “I am thrilled to be partnering up with the brilliant Lori Greiner and excited to see what is in store for RuffleButts’ future.”

Schaub isn't the first Charlotte-area entrepreneur to be featured on SharkTank. In July, ShopTalk featured Ballantyne resident Gary Gagnon (as well as other local reality TV entrepreneurs) who was featured in the Season 3 finale of "Shark Tank" for his line of sneakers made from recyclable materials.

Read more here: http://www.charlotteobserver.com/2013/07/23/4184339/what-reality-tv-taught-me-about.html#.Umb4z_m1E_8#storylink=cpy


Anonymous said...

I saw this. This is sad. The husband quit law school they moved in with their parents and borrowed money from friends and family...

What happened to accomplishing things on your own? Hope their parents are charging them rent and not letting grown adults slide by....

Anonymous said...

Actually, you're referring to a different couple. The husband and wife team on that episode that had made sacrifices such as moving in with family and quitting law school was selling frozen vegetable snacks.

Anonymous said...

Congratulations Amber!! I hope you turn it into a huge success!!

Willy Loman said...

When you score $600k for 9% stake...you are succeeding, especially if the 9% is from a QVC insider. Chick is going to be sure her 9% makes her a pretty penny. If it took moving in with mom and dad in order to make millions....it was worth it.

Michael said...

Mr./Ms. 4:07
Nice of you to stomp on the American Dream. The way I see it, the parents supported their dream & invited them into their home. Additionally, the double believed in their dream so strongly, they staked their futures on it.

One of the nicest comments I can make to you is STFU!

Amber @ RuffleButts said...

We are honored and sincerely appreciate you sharing our story. It was certainly a wild and incredible experience to be on Shark Tank and share our 'baby' with the world! The support and encouragement we have received has been truly touching. We are fortunate to work a business that is our dream every single day, and will be forever grateful.

Amber Schaub