Ever since it first aired in 2009, Shark Tank has been one of the most popular shows on the US television. It captivates audiences with its unique blend of business and entertainment. The show follows entrepreneurs as they present their ideas to a panel of investors, known as “sharks,” who then decide if they are worth investing in or not.
One such entrepreneur is Julia Cheek – Founder and CEO of EverlyWell. Her appearance on Shark Tank was a pivotal moment for her digital health company that changed the trajectory of their success story forever.
In this article, we will explore how Shark Tank helped launch EverlyWell into becoming one of today’s leading digital health companies.
What Started EverlyWell?
Before appearing on Shark Tank, Julia Cheek and her brother had already launched EverlyWell, in 2014. The company began by offering at-home testing kits for a range of health conditions including food sensitivities, fertility, cardiovascular disease, and more.
They allowed users to take their own samples (such as blood, saliva, or urine) and mail the samples to a certified lab for analysis. The results from the analyses were then sent back to the users, with easy-to-read and detailed reports that showed exactly what was going on inside their bodies.
EverlyWell’s mission is to make it easier for people to access affordable health care services within the comfort of their own homes. With EverlyWell’s products, users can avoid the hassle of addressing busy medical professionals, long waits in doctor’s offices or expensive hospital bills.
How Shark Tank Impacted EverlyWell?
When EverlyWell appeared on Shark Tank in 2017, they were already a successful company with over $1 million in sales. However, their appearance on the show catapulted them to even greater heights. Julia Cheek was able to pitch her company and its mission so effectively that she won over Shark Tank investor Lori Greiner, who invested $1 million in EverlyWell.
The investment enabled EverlyWell to expand their product offerings, develop new services and open new laboratories. By 2018, they had launched over 35 at-home test kits (more than double from the previous year) and had opened laboratories in multiple states across the US.
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Where is EverlyWell Today?
Today, EverlyWell remains one of the most successful companies that has appeared on Shark Tank. In 2020, the company was named one of Inc. Magazine’s 500 Fastest Growing Companies and was valued at over $300 million. Julia Cheek was also listed as one of Forbes 30 Under 30 in 2017 and received the prestigious RBC Women of Influence Award in 2018.
The story of EverlyWell is a true testament to the power of Shark Tank, with Lori Greiner’s investment proving to be a crucial stepping-stone that pushed the company to new heights. EverlyWell continues to innovate and release new products, helping people across the nation access affordable health care services with ease.
It is an inspiring story of resilience and ambition, one that proves that with the right opportunity and the right support, anything is possible.
