Squid Socks Net Worth: Gabe Miller and Jessica Miller, a husband and wife duo, presented their Squid Socks business to the Sharks on Season 11 of Shark Tank. The company manufactures non-slip children’s socks that include little silicon “squiddy dots” on the inside of the cuffs to prevent the socks from sliding down while the children are wearing them.
Gabe and Jessica entered the Tank with the expectation of receiving a $125,000 investment in exchange for a 20 percent stake in the company.
In exchange for 33.3 percent of the company, the Millers received $125,000 from apparel retail genius Daymond John. Also remember that in 2014, Daymond made an investment in the Bombas Socks company, which he considers to be one of his top three most successful Shark Tank investments to date.
Following the original airing of the Squid Socks Shark Tank episode, Squid Socks has continued to earn 5-star ratings on Amazon, including one from a buyer who wrote: “Love these tiny socks, I’ve been looking for something like these for a long time.” The fact that they stay in place and don’t fall off makes me wish I had discovered it sooner for my other children.”
After appearing on an episode of the ABC reality program Squid Socks in October 2019, the Washington-based firm received a lot of viral attention. Not only did they generate a lot of social media buzz, but they also received a $125,000 investment in return for a 33 percent stake in Squid Socks.
After receiving an offer from Daymond John, who has experience in marketing and selling apparel items, the co-founders, Gabe Miller and Jessica Miller decided to accept.
As reported by HeraldNet, the effect was instantaneous and dramatic. Following their appearance on the show, Squid Socks received a large number of orders, which created some challenges for a company that was run out of the couple’s home. It was particularly difficult considering the co-founders’ preference for providing a personal touch to each and every transaction they get.
As a small thank you to our customers, we like to include a sock bag with every order to keep them all together while they’re being washed. Jessica explained that they were delayed when a shipment of laundry bags arrived late, causing them to experience some stressful days while they waited and tried not to delay customer orders.
They claimed that the orders came in so quickly that they had to transfer the operation from their home office, where it had been set up, into their bigger living room, which created its own set of problems, they said.
It was mentioned in the report that “on this particular morning, the sofa acted as a temporary holding dock.” In order for the couple’s two children, Casen, 3, and Claire, 2, to have a place to sit down when they returned from daycare, the space would have to be cleaned by the following evening.
Gabe and Jessica explained that because the socks retail for $8 for each pair, they had to pay special attention to the quality of the product. Knowing that they are charging a premium for socks, the pair claimed they are meticulous in their selection of materials. They told HeraldNet that they had to reject one order of materials because they did not satisfy their quality requirements.