Glove Wrap Shark Tank Update (Season 15 Episode 3)

Glove Wrap Shark Tank Update (Season 15 Episode 3)

Glove Wrap, a clever solution for breaking in baseball and softball gloves, made its mark on Shark Tank Season 15, Episode 3.

Created by Gavin Batarse and supported by his father, John Batarse, Glove Wrap is a simple yet effective product designed to make it easier for players to shape their gloves and form the perfect pocket.

For athletes who rely on well-broken-in equipment, Glove Wrap promises to eliminate the frustration that comes with stiff new gloves.

Appearing on Shark Tank, Gavin and John pitched their business to the sharks, seeking $50,000 for 20% equity. The pitch was well-received, especially by sports enthusiasts Mark Cuban and Michael Rubin, who teamed up to offer $50,000 for 22% equity, which Gavin quickly accepted. This deal set Glove Wrap on a new path, bringing invaluable mentorship and exposure to a much wider audience.

What is Glove Wrap? How Does it Work?

Glove Wrap is a tool designed to help baseball and softball players break in their gloves more easily and effectively. Many players struggle with new gloves that are stiff and difficult to use in games until they’ve been broken in.

Traditionally, players use methods like rubber bands, shaving cream, or even driving over gloves to soften them up. However, these methods aren’t always reliable or effective.

Glove Wrap solves this problem with a specially designed piece of elastic rubber that is placed around the glove, holding a ball inside to help form the perfect pocket.

The wrap conforms to the glove’s shape and applies the right amount of pressure to soften it. This not only breaks in the glove but also shapes it to the player’s preference, making it game-ready much faster.

At a price point of $19.99, Glove Wrap is an affordable and reusable tool that can be used with any baseball, softball, or hockey goalie glove.

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Glove Wrap Shark Tank Episode 3 Season 15: What Happened at Shark Tank Pitch?

On Shark Tank Season 15, Episode 3, Gavin Batarse, alongside his father John and sister Morgan, entered the tank with confidence. They presented Glove Wrap and asked for $50,000 for 20% equity. The young entrepreneur explained how Glove Wrap was born out of necessity when he needed to break in a new baseball glove.

Unable to find enough rubber bands, Gavin innovated by using a leftover piece of rubber his father had from physical therapy, wrapping it around his glove to form the perfect pocket.

During the pitch, the sharks were impressed by Gavin’s creativity and entrepreneurial spirit. With $19,000 in lifetime sales and 1,000 units sold, Gavin explained that Glove Wrap costs $3.99 to manufacture and retails for $19.99, with wholesale pricing at $10.

The product is currently available on Amazon, through their website, and in six mom-and-pop sporting goods stores. The family also mentioned that they were in discussions with Big 5 Sporting Goods to stock Glove Wrap in stores alongside baseball and softball gloves.

Glove Wrap Shark Tank Pitch Summary

What Happened to Glove Wrap After Shark Tank?

After securing the deal with Mark Cuban and Michael Rubin, Glove Wrap experienced an immediate boost in sales and exposure. The Shark Tank effect worked its magic, with Glove Wrap selling an additional 1,000 units within a few days of the episode airing.

With the backing of these two sports-savvy sharks, Glove Wrap is well-positioned to tap into new markets and potentially secure more retail partnerships.

The exposure on Shark Tank also helped increase Glove Wrap’s visibility on social media. Prior to the show, Glove Wrap had already built a strong following on platforms like Instagram, TikTok, and Facebook, with over 100,000 followers and 30 million views across their videos. This social media presence continues to grow, driving awareness and sales.

In terms of future growth, the collaboration with Michael Rubin, the founder of sports retail giant Fanatics, could open doors for Glove Wrap to enter major sporting goods stores and even professional baseball organizations.

How Much Is Glove Wrap Worth?

As of 2024, Glove Wrap’s net worth is estimated at around $100,000. This valuation is based on their $19,000 in lifetime sales and the company’s potential for growth following their Shark Tank appearance. With the investment from Mark Cuban and Michael Rubin, and the exposure from Shark Tank, Glove Wrap is expected to scale its operations and increase revenue in the coming years.

Is Glove Wrap Still in Business?

Yes, Glove Wrap is still in business and growing. After the exposure from Shark Tank, Glove Wrap saw an increase in sales and continued to expand its retail presence. The company has also gained traction in the sporting community, with more players discovering the benefits of the product for breaking in and shaping their gloves.

Gavin and his family are working with Mark Cuban and Michael Rubin to explore new opportunities, including getting the product into more retail stores and possibly professional sports teams.

Which Episode & Season Number was Glove Wrap Shark Tank?

Glove Wrap appeared on Shark Tank Season 15, Episode 3, which aired on October 13, 2023. During this episode, Gavin Batarse pitched his glove wrap product and successfully secured a deal with Mark Cuban and Michael Rubin for $50,000 in exchange for 22% equity.

FAQs

What is Glove Wrap used for?
Glove Wrap is designed to help break in baseball and softball gloves by forming a perfect pocket. It applies pressure around the glove, shaping it to fit the ball.

Did Glove Wrap get a deal on Shark Tank?
Yes, Glove Wrap secured a deal with Mark Cuban and Michael Rubin for $50,000 in exchange for 22% equity.

How much does Glove Wrap cost?
Glove Wrap retails for $19.99, with a manufacturing cost of $3.99 and a wholesale price of $10.

How much is Glove Wrap worth?
As of 2024, Glove Wrap’s net worth is estimated at $100,000 based on their sales and projected growth after Shark Tank.

Where can I buy Glove Wrap?
Glove Wrap is available on Amazon, the company’s website, and at select sporting goods stores.

Who are the founders of Glove Wrap?
Glove Wrap was founded by Gavin Batarse, with the support of his father, John Batarse.