Songlorious Shark Tank Update - Net Worth, Pitch & Deal - Shark Tank Insights (2024)

In this super exciting Shark Tank, we got to learn about an impressive company, Songlorious. Ellen and Omaya are the co-founders of this company. It is a website, a magical music creator where you can customize and create your songs based on your preferences.

Songlorious provides a fantastic way to make everlasting memories through music. The founders joined the show in Season 13 Episode 02 and brought their business model. The sharks involved were Lori Greiner, Mark Cuban, Kevin O’Leary, Daymond John, and Peter Jones.

Let’s see if the company can manage to make a deal with them. So, if you are interested in knowing more about the outcome, just dive into the article and enjoy the whole episode! Buckle up!

Songlorious Net Worth

As of December 2023, Songlorious had reached an incredible valuation of $3 million. The company is making some serious waves in the music industry and generating $2.9 million in revenue every single year. That is an impressive amount of success for a company that started just a few years ago.

What happened to Songlorious after Shark Tank?

Songlorious had a great time on Shark Tank. They made a deal with four sharks: Kevin O’Leary, Mark Cuban, Daymond John, and Peter Jones. Nowadays there is talk of adding new genres and songs to the company’s website in Arabic and Spanish. They have also been featured in top publications like Today Show, CNBC, Business Insider, and Forbes. Sales in 2022 were estimated at around $2.8 million.

Did Songlorious get a deal on Shark Tank?

Yes, the company was successful in securing a deal with four sharks of the panel. Together, the investors united and offered a remarkable deal of $500,000 for a 40% stake in Songlorious. The founders accepted the offer and got a deal on the show.

Songlorious Shark Tank Update

Omayya and Ellen Atout, the amazing husband-and-wife duo, joined the show and pitched their awesome music company, Songlorious, to the sharks. The Atouts were looking for a deal of $400,000 in exchange for just a 10% stake in their company. At that time, Songlorious was valued at an impressive $4 million.

Founder and Backstory

Omayya Atout and Ellen Hodges are the co-founders of this amazing music company. They started Songlorious back in June 2020 when they were living in their apartment in Bushwick, Brooklyn. Omayya used to be a civil engineer, and Ellen was a barista. Both of them are super-talented musicians, too.

It all started when a friend asked them to create a song for their wedding and guess what? It was a total hit! People loved their music, and that’s when they realized they had something special going on. So, during the pandemic, they made the brave decision to quit their jobs and focus on Songlorious full-time.

Now, they’re based in Chattanooga, Tennessee, and they’re making personalized songs for people all over the place. It’s such an inspiring story of turning a passion into a successful business.

Pitch and Deal

The entrepreneurial duo started their pitch by introducing themselves and sharing the story of how their brilliant business came to be. Ellen had a lightbulb moment while working on a wedding song, realizing that many others might be interested in a similar idea. And thus, Songlorious was developed.

When it came to sales, the founders dropped some impressive numbers. They raked in $700,000 in 2020 and a whopping $1.1 million in 2021, with a net profit of 9%. They even predicted their next sales data to reach a staggering $2.1 million. The sharks must have been impressed.

Peter Jones, the guest shark, saw great potential in helping them expand, offering $400,000 for a 33.3% stake. Daymond John was also impressed and made his offer: $400,000 for a 20% stake. But in a surprising twist, Mark Cuban, Peter Jones, and Kevin O’Leary decided to team up and offer $400,000 for a 33% stake.

Daymond John wanted to take action too, raising the equity to 40%. The founders countered with an $800,000 funding request for the 40% stake, but the sharks declined. In the end, Omayya and Ellen chose to accept the offer with the four sharks anyway.

Product Availability

The company offers a super cool online service where you can order your very own personalized son. It’s like having your musician create a song just for you to celebrate life’s special moments. How awesome is that?

You just need to choose the genre, mood, and all the little details for your song, and Songlorious brings it to life with its network of talented musicians. It’s like a magical collaboration that turns your story into a beautiful, one-of-a-kind musical masterpiece.

So, the cost of a personalized song from Songlorious depends on the length you choose. A 30-second “chime” is $45, a one-minute song is $90, a two-minute song is $145, and a three-minute song is $190. If you want to select your artist from their list, it costs an additional $20. It is such a unique and special way to create lasting memories.

Conclusion

Songlorious had an impactful journey on the Shark Tank. Its creative business idea impressed the sharks and four out of them, made a deal with the company together. Now, they are all eager to expand the business and make it thrive even more. They have high hopes for the future and are excited about the growth opportunities ahead. It is an exciting journey they are embarking on together.