Wise Pocket, a retail apparel and fashion company, introduced a unique product to the market – pocket socks. These socks, designed to hold small items like phones or AirPods, represent a novel solution in clothing functionality.
RELATED: Dan Orlovsky Wife: The Love Story of Tiffany Orlovsky
Table of Contents
Who is Wise Pocket
Founded by Sofia Overton in 2013, Wise Pocket started as a business idea by a young entrepreneur. The company specialized in creating socks with built-in pockets, a concept that was both practical and innovative.
Early Life
Wise Pocket’s journey began with the finalization and testing of its prototype in late 2017. In early 2018, the company raised over $10,000 through an IndieGoGo campaign and fulfilled all orders by May of the same year.
Personal life
While there isn’t much public information about Sofia Overton’s personal life, her entrepreneurial spirit was evident from a young age. She began her business journey at 13, showcasing her creativity and business acumen.
Career
Sofia Overton’s career took off with Wise Pocket, which she pitched on Shark Tank in 2020. Her appearance on the show was a significant milestone, helping to raise the brand’s profile.
Wise Pocket Net worth
Wise Pocket Products’ net worth is estimated at $300,000. The company’s value reflects its innovative product offering and the market’s response to functional clothing.
Shark Tank Appearance
On Shark Tank, Sofia Overton sought $30,000 for a 15% equity stake. The pitch included a demonstration of the socks’ functionality, impressing the Sharks with their practicality.
Post-Shark Tank Growth
Following its Shark Tank appearance, Wise Pocket saw an increase in sales and customer interest. The company expanded its product line, adding new designs and even venturing into pocketed leggings.
Social Impact and Business Status
Wise Pocket also engaged in social initiatives, like donating multiple pairs of socks to homeless shelters. However, as of August 2023, Wise Pocket is reportedly out of business.
Conclusion
Wise Pocket’s journey in the business world, although short-lived, demonstrated the potential impact of innovative ideas in the apparel industry. Sofia Overton’s venture reflects the entrepreneurial spirit of young innovators.
RELATED: Kawhi Leonard Wife: Is He Married?
FAQs about Wise Pocket
- What was the unique feature of Wise Pocket’s socks?
- They featured a pocket for storing small items like phones or AirPods.
- What was Wise Pocket’s valuation on Shark Tank?
- The company was valued at $200,000 during its Shark Tank pitch.
- Did Wise Pocket secure a deal on Shark Tank?
- Yes, Sofia Overton secured a deal, but there’s no clear indication that the deal was finalized post-show.
- What was Wise Pocket’s net worth in 2024?
- The net worth of Wise Pocket Products was estimated to be around $300,000.
- Is Wise Pocket still in business?
- As of August 2023, Wise Pocket appears to be out of business.
