How a Venezuelan Immigrant Turned Foam Hats Into a Shark Tank Success
Grace Rojas turned a hobby into a thriving business after moving from Venezuela to the US. What began as handmade hats for friends and family soon grew into Foam Party Hats, a company known for its custom, lightweight designs. Recently, she and her husband, Manuel, took their business to Shark Tank in search of investment to expand further. Grace Rojas first started crafting foam hats for weddings and special occasions in her family. Made from durable polyurethane, the hats were lightweight yet sturdy, and their bright colours and playful themes—from sports to holidays—quickly caught attention. She began selling them at local fairs in Houston before shifting to online sales, primarily through Amazon.
By the time they appeared on *Shark Tank*, the company had generated $153,000 in annual revenue. However, growth was limited by their strict hiring standards, making it difficult to bring in new employees. On the show, Grace and Manuel asked for $100,000 in exchange for a 10% stake in the business. The sharks showed interest, but with conditions. Daniel offered the full amount for a 30% stake, insisting Manuel leave his job to focus entirely on the company. Eventually, Mark and Lori made a competing offer: $100,000 for 25% equity. Manuel accepted their deal, securing the funds needed to push the business forward.
The investment from Shark Tank provided Foam Party Hats with the capital to scale up production and marketing. While the company has not yet expanded into large international events, its custom designs remain popular for personal celebrations. The deal with Mark and Lori marked a turning point for the business, allowing it to grow beyond its early challenges.
