Retold Recycling Textile Service Shark Tank Episode 14 Update & Net Worth

Retold Recycling Textile Service Shark Tank Episode 14 Update & Net Worth

Retold Recycling, a service designed to reduce textile waste through a convenient mail-in recycling system, was featured on Shark Tank Season 14, Episode 14.

 Entrepreneurs Alan Yeoh and Amelia Trumble brought their innovative company to the show, hoping to secure a deal that would help them expand and promote sustainability in a world facing growing concerns over environmental degradation.

In their pitch, they sought $300,000 for 15% equity. But did the sharks bite, and what happened after the show?

During the pitch, the sharks were initially skeptical about the business model and the perceived demand for such a service. Kevin O’Leary and guest shark Emma Grede opted out due to concerns over profitability and scalability. However, Mark Cuban recognized the potential and offered $300,000 for 25% equity, which Alan and Amelia accepted.

Since appearing on Shark Tank, ReTold Recycling has continued to grow. The company reported sales of $12,000 in its first year (2020), which increased to $175,000 in 2021. They projected sales of $500,000 for the year of filming.

Following their appearance, they experienced a surge in website traffic and orders, often referred to as the “Shark Tank effect.”ReTold Recycling has also begun partnerships with clothing brands looking to offer sustainable recycling options to their customers, further expanding their market reach.

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What is Retold Recycling? How Does it Work?

Retold Recycling is a textile mail-in service that allows customers to recycle unwanted clothes, household linens, and other textiles conveniently.

The business was founded in response to the alarming statistic that 12 million tons of textiles end up in American landfills every year. Many items are not suitable for donation but can still be recycled to reduce environmental impact.

Here’s how Retold Recycling works:

1. Customers order a bag: For $14.50, customers receive a postage-paid bag that holds up to 5 pounds of textiles.
2. Fill the bag: Once customers fill the bag with their unwanted clothes, linens, or textiles, they simply seal it and drop it off at a mailbox.
3. Items are sorted and recycled: Retold Recycling sorts through the items, sending usable textiles to thrift stores, upcyclers, and recyclers. Non-reusable items are responsibly recycled to ensure nothing ends up in a landfill.

Retold Recycling offers both one-time and subscription services, allowing environmentally conscious customers to recycle regularly. The company also partners with clothing brands that are looking to offer eco-friendly options to their customers.

Retold Recycling Shark Tank Episode 14 Season 14: What Happened at Shark Tank Pitch?

When Alan Yeoh and Amelia Trumble pitched their company on Shark Tank, they emphasized the environmental benefits of their textile recycling service. They explained the problem of textile waste and how Retold Recycling could be part of the solution.

With a mission to keep textiles out of landfills and create a more sustainable future, they hoped the sharks would see the potential in their business.

During their pitch, the entrepreneurs revealed that they launched the company in 2020. Initially, sales were modest, with just $12,000 in revenue in their first year. However, by 2021, sales had jumped to $175,000, and they were on track to generate $500,000 by the end of the current year.

They asked the sharks for $300,000 in exchange for 15% equity, valuing the company at $2 million.

Retold Recycling Shark Tank Pitch Summary

What Happened To Retold Recycling After Shark Tank?

After securing a deal with Mark Cuban for $300,000 in exchange for 25% equity, the team at Retold Recycling experienced significant growth. Their appearance on Shark Tank brought a wave of exposure, leading to an increase in both individual and corporate clients interested in their recycling services.

The company expanded its partnerships with various clothing brands, allowing those companies to offer textile recycling options directly to their customers. In addition to their B2C model, Retold Recycling also began offering B2B solutions, working with fashion brands and retailers to establish larger-scale recycling efforts.

The exposure from Shark Tank helped Retold Recycling significantly boost its visibility. They saw a surge in online orders and an increase in media attention, which further helped propel their brand to the forefront of sustainable textile solutions.

How Much Is Retold Recycling Worth?

As of 2024, Retold Recycling is estimated to be worth around $1.2 million. The company’s subscription-based model, combined with its eco-friendly mission, continues to resonate with customers. With more consumers focusing on sustainability, the demand for services like Retold Recycling is expected to grow, driving the company’s valuation even higher in the coming years.

In terms of revenue, the company projected sales of $500,000 by the end of 2022, a significant jump from its $175,000 in sales the year before. This trajectory suggests that the business is positioned for continued growth as more people seek sustainable alternatives for textile disposal.

Is Retold Recycling Still In Business?

Yes, Retold Recycling is still in business as of July 2023. Since its appearance on Shark Tank, the company has continued to operate and expand its services. Their recycling service is available nationwide, and they have formed several partnerships with clothing brands and retailers to help reduce the environmental impact of textile waste.

Additionally, the company has been featured in prominent media outlets, including Bustle, Hunker, and WWD, further establishing their brand as a leader in the textile recycling industry.

Their service model is designed to be convenient and affordable, appealing to customers who are environmentally conscious but don’t have easy access to textile recycling centers. By offering mail-in recycling, Retold Recycling has made it simple for anyone in the U.S. to participate in sustainable practices.

Which Episode Number was Retold Recycling on Shark Tank?

Retold Recycling was featured on Shark Tank Season 14, Episode 14, which aired on February 17, 2023. The company’s pitch garnered attention not just for its eco-friendly mission but also for the potential impact it could have on the growing problem of textile waste.

Retold Recycling has positioned itself as an innovative leader in the world of textile recycling. By offering a convenient and affordable mail-in service, they’ve made it easier for people to dispose of unwanted textiles responsibly.

With the backing of Mark Cuban and the visibility gained from Shark Tank, Retold Recycling is well on its way to reducing textile waste and promoting sustainability across the United States. Their continued growth and partnerships suggest that they will remain a key player in the fight against textile waste for years to come.