Sofi Overton Biography and Wikipedia
Sofi Overton is an American born television personality, inventor, and entrepreneur. She is the founder of the Wise Pocket Products which entails creating socks with pockets. Se pitched her idea to the Shark Tank investors and landed funding for her business.
Sofi Overton Age and Birthday
Sofi is a 13-year old young investor who gained fame after appearing on the reality television show Shark Tank and won a deal for her Wise Pocket Products company. Te has known information about her exact date of birth nor her lace of birth. This information will soon be updated.
Sofi Overton Height and Weight
Overton is a young talented business entrepreneur who is still growing. It is hence difficult to determine her exact height weight nor her other body measurements. This information will be updated as soon as it has been made available.
Sofi Overton Family, Parents and Siblings
Not much is known about the young entrepreneur, Overton. Her parents, siblings, and relatives are currently under review. This information will soon be updated.
Sofi Overton Dating and Education
The young and talented inventor, Sofi, is currently focusing on her career as well as her education. There is no known information about her education status. This information will be updated as soon as it has been made available.
Sofi Overton Shark Tank and Wise Pocket Products
It’s not every day you see a teenager on ABC’s “Shark Tank.”
“I always love to see a #kidtrepreneur in the tank,” Shark Barbara Corcoran live-tweeted during Sunday’s episode. “It’s an advantage to start your business when you’re young. You have nothing to lose and nowhere to go but up.”
Corcoran was referring to 13-year-old Sofi Overton, who pitched her “sock with pockets” company, Wise Pocket Products, to the investors.
“I created a sock for kids, made by this kid, to make life easier for whatever we’re doing,” Overton told the Sharks. Wise Pocket makes leggings and socks with pockets to hold phones and other devices, and with each purchase, a pair of socks is donated to children’s shelters across the country.
“I got into this business when I was 11,” said Overton, who told the investors she’d been watching “Shark Tank” since she was 6.
“My cousin put her phone in her boot. I tried to, and it was really uncomfortable. I asked around my school to see if other kids had this problem, and they did, so I came up with my prototype,” she said. “I cut off the top of another sock and stuck it inside the sock. And I sowed it up the sides.”
But Overton, who lives in Bentonville, Arkansas, really impressed the Sharks when she explained how she funds her business.
“I save everything that I earn. I invested $10,000 of my own money,” she said. “I had saved $5,000 and I earned $5,000 more through business pitches and competitions.”
“Sofi, you’re a perfect example of what every kidtrepreneur should do,” Shark Mark Cuban said. “You got a job, you saved up some money, you did all the prototypes yourself, then you made actual products, then you sold those products – $16,000 worth of products,” he said, referring to the business’s lifetime sales.
Although the cost to make the sock is high, at $5.47, the Sharks were still interested because of Overton.
Sharks Lori Greiner and Daymond John offered Overton $30,000 for a 33.3% stake in the business. Overton countered, asking the two for $35,000 for a 25% stake. Greiner and John accepted.
Greiner and John said in the episode their end goal would be to license the socks, but in the meantime, Overton’s business is more than just a money maker to her.
“Going into high school is stressful,” Overton told the Sharks. But “with the Wise Pocket Products, it’s kind of a boost for me, a confidence boost: If I can own a business, then I can go through school,” she said.