GMDC Member EverlyWell Lands ‘Shark Tank’ Deal
Largest valuation deal for solo female entrepreneur in show’s history
COLORADO SPRINGS, Colo. – Nov. 29, 2017 – Global Market Development Center (GMDC), a leading General Merchandise and Health Beauty Wellness member-owned association, is pleased to announce that one of its most innovative members – EverlyWell – which had its debut to retailers at the association’s first Demo Day last year, won a $1 million deal from Lori Greiner on ABC’s “Shark Tank.”
EverlyWell founder and CEO, Julia Cheek accepted the offer on the show that aired Sunday, Nov. 26. It is the largest valuation deal for a solo female entrepreneur in “Shark Tank” history.
EverlyWell – an at-home health testing company – was first pitched in front of retail executives audience during GMDC’s Retail Tomorrow “Demo Day” in September of 2016, then went on to win the Chair’s Choice Award during the annual 2017 GMDC Health Beauty Wellness Marketing Conference.
“We knew Julia and her innovative company, EverlyWell, was poised for incredible success when the startup presented at our inaugural Demo Day,” said Patrick Spear, president and CEO of GMDC. “And that success has been rewarded by this historic – and groundbreaking – ‘Shark Tank’ deal. The sky’s the limit for Julia and EverlyWell, and we are proud of the entrepreneurial accomplishments they are enjoying.”
During the latest episode of “Shark Tank,” Greiner offered Cheek a $1 million line of credit in exchange for 5 percent equity. Final terms of the deal are being negotiated.
“You get one shot to tell your story to the sharks and to America.” Cheek said after the big win. “We know that our brand and consumer education is incredibly important to our growth, so it was really a once in a lifetime opportunity to get to pitch the sharks for an investment. This has been an incredible journey, and I’m grateful that we got our retail ‘start’ at GMDC’s Demo Day. We are eager for the next chapter in EverlyWell’s growth."
Greiner, who has created hundreds of products and holds more than 100 patents, has taken to Twitter to share her excitement about the deal. “So happy to have @everly_well join my #SharkTank family. Can't wait to make health care better & simpler for everyone. Head to http://www.everlywell.com & take 15% off any test with code SHARKTANK #everlywell @ABCSharkTank,” she tweeted.
Demo Day is fueled by GMDC’s Retail Tomorrow, which introduces innovation in the marketplace through development and advancement of unique and first-mover products, services and technologies for members. Retail Tomorrow accelerates retail “next practices” by providing insights into the future that help them lead consumer-centric trends.
EverlyWell is a direct-to-consumer health testing company that provides innovative, at-home kits and redesigned lab results (think 23andMe but for more practical lab tests). The company’s different at-home health tests range from Food Sensitivity to Vitamin D to Women’s Health & Fertility tests. EverlyWell has raised $5 million to date and is one of the fastest-growing consumer health care startups in recent history. The company has 17 employees and is headquartered in Austin, Texas.