They got a Shark Tank deal. Rows of ugly sweaters. The crowd cheered. Classic Shark Tank, right? But here’s what you don’t see: the all-nighters, the real numbers, and what happens after you cash that check. I’ve seen brands flame out after their fifteen minutes. Tipsy Elves? They flipped the script and still cash in, and not just at Christmas.
Let’s cut through the TV drama. Here’s what you really need to know if you’re hungry for a Shark Tank win yourself—or just want the straight story behind those ridiculous holiday sweaters.
What Is Tipsy Elves All About?
Tipsy Elves isn’t your grandma’s sweater company. Founders Evan Mendelsohn and Nick Morton made ugly holiday sweaters cool by turning them into party statements. They started with Christmas but wrecked the whole once-a-year trap quick. If you’ve seen a crazy Christmas sweater at a bar crawl, wedding, or wild office party—it was probably them.
They built a direct-to-consumer brand from scratch, with real online muscle and a voice that actually made you laugh. That’s rare in apparel, which is usually all style, no substance.
Who Built Tipsy Elves?
Here’s what I respect: Mendelsohn ran search analytics in his spare time—a lawyer moonlighting as a data hacker. Morton? Gave up cushy legal work to bet it all on weird sweaters. People always ask if you need to quit your day job for a startup. Morton actually did it, and he didn’t crumble when things looked risky.
I’ve seen founders try to play it safe and split their time. The guys behind Tipsy Elves made a hard decision: go all-in, or give the dream up. They went full-throttle, and it shows.
The Shark Tank Pitch: How They Got In the Room
Remember: nobody’s impressed by gimmicks. These guys walked into Season 5 with sales of $800,000 in just two years—before the Shark Tank spotlight hit. That’s real traction. They weren’t begging; they were scaling.
Their pitch? $100,000 for 5% equity. Only founders who know their math ask for numbers like that. And they brought showmanship: models in wild sweaters, product in hand, energy in the air. But underneath the fun, their growth strategy was clear—direct-to-consumer first, wholesale on the horizon.
Too many founders think quirky wins the day in the Tank. It doesn’t. Data and discipline gets you listened to. Tipsy Elves had both.
Which Shark Bit: Breaking Down the Deal
Let’s get honest—Mark Cuban and Lori Greiner walked because they weren’t sold on growth outside the holidays. Kevin O’Leary low-balled them with a royalty deal. Standard Mr. Wonderful play—get paid up front, take no risk.
Daymond John, the apparel king? Liked the founders, but didn’t pull the trigger. Sometimes that speaks louder than a yes.
Robert Herjavec, though? He saw the life leap. Morton left law; that hustle hit home. Herjavec put up $100,000 for 10%. Not the biggest, not the wildest deal, but the one with actual upside. And the Elves took it. A lot of founders get greedy—these two played the long game.
After the deal, Robert didn’t just sign a check. He opened doors, scaled their backend, and got them smart on fulfillment and B2B. That’s why this Shark Tank deal actually mattered once the cameras shut off.
Net Worth: How Much Is Tipsy Elves Worth Now?
Ah, the numbers—the real scoreboard. Here’s the bottom line: before Mark Cuban’s eyes even glared at their pitch, the Elves had $800K in lifetime sales. The year after they aired? They powered past $10 million.
Most Shark Tank companies flame out or barely pay the founder’s salary. Not here. Herjavec himself still calls Tipsy Elves his most successful Shark Tank investment—on SharkWorth and anywhere else.
The exact net worth isn’t public. But here’s my take: with that sales jump, smart line expansion, and years of consistent, multi-million-dollar revenue, you’re likely staring at a company worth well north of $20 million by now. And remember, that’s with lean operations, not luxury bloat.
Why did they win? Viral branding, yes, but also killer margins (most ugly sweaters cost dirt to make and sell for premium), and they nailed the direct-to-consumer game before the rest of Shopify Nation woke up.
How Tipsy Elves Scaled Up
A lot of brands stop at their main thing. That’s why they fizzle. Tipsy Elves got the market launch right, then sprinted. They hired up, moved out of a tiny apartment into a real office, and didn’t stop at Christmas.
Halloween costumes. St. Patrick’s Day. Themed party gear. They launched custom collabs with hit movies like The Night Before. Wholesale deals, Amazon dominance, and pop culture partnerships kept revenue flowing all year.
They didn’t wait for the holiday bump. They engineered new bumps, over and over. That’s how you build year-round money from a seasonal craze.
Major Wins and Roadblocks
Wins? Plenty. Those Hollywood partnerships put them in front of millions, especially with movie tie-ins and viral ads.
But it wasn’t all runway lights and laughs. Supply chain backups threatened Christmas inventory. Remember: miss one December and a whole year’s sales vanish. They had to build a massive logistics game, fast.
Heard of brands crumbling because of Facebook ad changes, or Amazon competition? Tipsy Elves felt that heat. But they adapted—lean teams, diversified traffic, and always a new joke or headline to keep word-of-mouth blazing.
Hustle only wins if you execute on the boring stuff, too. These founders did both.
Are They Still Winning? Latest Update on Tipsy Elves
Short answer: Yes. The party’s still raging. Check SharkWorth, check their own site—it’s new drops, new jokes, and supply still selling out.
As of October 2024, Herjavec is still pumping their tires. That doesn’t happen unless the checks are clearing. Tipsy Elves expanded from a handful of products to hundreds. The company’s staff is orders of magnitude bigger than post-Tank.
They’re still running smart, still taking risks, and still owning their niche. That’s why, more than ten years after pitching, they’re not just surviving—they’re climbing.
Key Lessons for Entrepreneurs Watching at Home
Here’s the gold for the side hustlers and would-be entrepreneurs:
1. Niche hard, niche honest: They didn’t try to be for everyone. They owned ugly sweaters and made it cool. Niche wins—when done right.
2. Play the numbers: They knew their cost, margins, and made legit sales before getting on TV. The Sharks respect numbers, not hope.
3. Know when to go all-in: Half-measures kill startups. Morton quit law. If you go, go.
4. Expand smart: Don’t just slap your logo everywhere. Tipsy Elves only branched out when they nailed their first product AND had the demand.
5. Pick the right Shark: Robert backed their vision and brought connections, not just cash. Investors matter—make them work for you.
6. Handle the boring stuff: Operations and logistics are as sexy as a tax return. Still, they’re the foundation. Don’t fumble fulfillment and customer support.
7. Ride culture—then adapt: Viral hits get you noticed, but keeping the brand fresh makes you last. Tipsy Elves never stopped reinventing their product or their story.
If you’re drawing up your own pitch, steal these moves and avoid the rookie errors.
FAQs
1. Is Tipsy Elves still in business after Shark Tank?
Yes—bigger than ever, adding new lines every year.
2. How much money did Tipsy Elves make after appearing on the show?
Sales jumped from $800K total to over $10 million soon after Shark Tank aired.
3. Which Shark invested in Tipsy Elves, and do they still hold equity?
Robert Herjavec, Season 5, $100K for 10%. He still has his stake.
4. Where can I buy Tipsy Elves products?
Direct from the Tipsy Elves website and major retailers online.
5. Did the founders quit their day jobs after closing the Shark Tank deal?
Yes. Morton quit law, Mendelsohn left SEO work, and they went all-in.
6. What makes Tipsy Elves different from other holiday sweater brands?
Real brand voice, higher quality products, and they made ugly cool—not just silly.
7. Has Tipsy Elves expanded beyond Christmas sweaters?
Big time. Halloween, St. Paddy’s, ski suits, wild party wear—year-round fun.
8. What is the estimated net worth of Tipsy Elves today?
No exact number, but easily north of $20 million—likely more.
9. Would Robert Herjavec invest in Tipsy Elves again if given the chance?
According to SharkWorth and his own words, absolutely—his top Shark Tank deal.
Bottom line? Tipsy Elves cracked the Shark Tank code: real sales, the right risk, the right Shark, and relentless execution. That’s how you turn TV time into a multi-million-dollar, evergreen business. And if you’re plotting your own idea? Read that playbook twice.
