Stringys was founded in March 2023 by best friends and business partners Olivia Karina and Elvira Troger. The idea was born out of their shared frustration with traditional underwear options that failed to eliminate visible panty lines or provide comfort under form-fitting outfits.
Recognizing this gap, Olivia and Elvira developed a truly invisible, adhesive panty that stays in place without straps, rolling, or digging in. Their dedication led them through over 60 prototypes before landing on the final product,
which uses bonded materials for a seamless, weightless feel. The brand quickly gained traction, selling primarily direct-to-consumer and building a reputation for quality and comfort.
The Shark Tank Pitch: Ask, Valuation, and Offers On Shark Tank Season 16, Olivia and Elvira pitched Stringys, seeking $300,000 for 5% equity—a $6 million valuation. They highlighted Stringys’ unique design, strong profit margins (costing $2 to make, retailing for $14), and $180,000 in sales over 11 months.
Their ask was rooted in the need to scale production and avoid frequent sellouts, as demand was outpacing supply.
Negotiation & Final Deal The pitch prompted interest and tough negotiations from the Sharks: Kevin O’Leary offered $300,000 for 3% equity and a $1 per unit royalty in perpetuity, later lowering the royalty to $0.50 per unit. Barbara Corcoran initially offered $300,000 for 10% equity, emphasizing her brand-building expertise…
