Parting Stone: Shark Tank Update – A Friendly Recap

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Parting Stone is an innovative company that has gained popularity after its appearance on the hit television show, Shark Tank. Founded by Justin Crowe, the company offers a unique service that caters to the sensitive needs of individuals who have lost their loved ones. They provide an alternative to the conventional method of cremation by turning ashes into beautiful, solid stones, creating a lasting and meaningful way for families to cherish the memories of their departed ones.

In Season 14 of Shark Tank, Justin Crowe presented Parting Stone to the expert panel of investors with a pitch that aimed to transform the cremation industry. After an emotional and convincing presentation, the company secured an investment from Lori Greiner and Kevin O’Leary. The deal was finalized at $400,000 for 10% equity, along with a royalty agreement until the initial investment of $400,000 is paid off.

Since its appearance on the show, Parting Stone has continued to grow and develop its offerings, providing families with an innovative, comforting alternative to the traditional cremation process. The company’s mission is to ease the emotional burden of saying goodbye while offering a unique and meaningful way to keep the memories of loved ones alive.

Parting Stone Overview

Parting Stone is a Santa Fe, New Mexico-based startup that provides an innovative solution for families who opt for cremation, transforming cremated ashes into beautiful, solid stones. The process allows people to keep the remains of their loved ones in a more tangible and meaningful way.

The company was founded by Justin Crowe, who recognized an opportunity to help families deal with the discomfort that ashes might bring. The resulting solidified remains can be appreciated as beautifully crafted stones with various textures and colors, like chocolate brown, lavender, honey yellow, and blue speckles.

In Season 14 of the popular television show Shark Tank, Parting Stone pitched their idea, initially asking for $400,000 for 5% equity in the company and a valuation of $8 million. Lori Greiner and Kevin O’Leary saw the potential in this innovative approach to handling cremated remains, leading them to invest in the company. They ultimately agreed on a deal of $400,000 for 10% equity, including a royalty until the initial investment was paid off. This brought the final valuation to $4 million.

From the moment it appeared on Shark Tank, Parting Stone has continued to make headlines and grow its customer base. People appreciate this sensitive and unique method of handling cremated remains, offering an alternative to traditional urns and scattering ashes. The stones derived from the process significantly contribute to honoring the memory of the deceased and serve as a comforting and aesthetically pleasing approach for loved ones.

Concept behind Parting Stone

Parting Stone is a company that has introduced a creative and innovative way to commemorate loved ones after their passing. Their process involves transforming cremated remains into solidified stones, allowing families to have a comforting and tangible memorial of their departed loved ones.

The idea behind Parting Stone is to provide a more meaningful way to appreciate the cremated remains compared to traditional methods. In contrast to keeping ashes in urns or scattering them, solidified remains offer a tangible and unique memorial for the family to appreciate and cherish.

The process of creating these stones is carefully designed to ensure that the cremated remains are treated with respect and dignity. The ashes are meticulously converted into beautiful stones that come in various textures and colors, such as chocolate brown, lavender, honey yellow, or with blue speckles.

Since its appearance on Shark Tank, Parting Stone has garnered attention for its innovative approach to dealing with the remains of our loved ones. This has led to the company experiencing steady growth from both direct-to-consumer sales as well as business-to-business sales through funeral homes.

In summary, the concept behind Parting Stone is centered around providing a sense of comfort and solace to families by creating beautiful stones that celebrate the lives of their deceased loved ones. This unique alternative to traditional cremation practices continues to gain popularity as more people seek a tangible and meaningful memorial for those they have lost.

Story of Justin Crowe

Educational Background

Justin Crowe is the CEO and founder of Parting Stone, a startup based in Santa Fe. He holds a degree from Alfred University where he studied art and developed a passion for creating tangible and meaningful objects. This educational background would later become the foundation for the unique idea of Parting Stone.

Birth of Parting Stone Idea

The idea of Parting Stone was born when Justin Crowe experienced the loss of his father. He felt that the traditional process of cremation left families with ashes that were uncomfortable and difficult to deal with. This inspired him to find a better way to appreciate the remains of loved ones, by turning their ashes into solidified stones.

Challenges and Accomplishments

During the initial stages of Parting Stone, Justin Crowe faced numerous hurdles. From educating the public about the innovative process to raising funds for his startup, the journey has been filled with challenges. Over the past three years, Crowe has managed to overcome these obstacles and has successfully built a thriving business. Today, Parting Stone is seeing a general increase across various aspects of its operations and is expected to continue its growth in 2023.

Financial Aspects of Parting Stone

Justin Crowe’s Parting Stone has attracted multiple investors, which has helped it secure funding for its operations. Notably, the company has received financial backing from Arrowhead Innovation Fund. The exact net worth of Parting Stone remains undisclosed, however, the company’s success indicates that it is in a strong financial position.

Social Media Presence

Parting Stone maintains a strong presence on various social media platforms, such as Facebook and Instagram. The company engages with its audience by sharing stories, updates, and information related to its unique process and services.

Shark Tank Experience

One of the significant moments for Parting Stone was Justin Crowe’s appearance on the television show Shark Tank. On Season 14 of the popular entrepreneurial reality show, Crowe presented his innovative idea of turning cremated remains into solidified stones. This exposure provided valuable visibility for Parting Stone and helped the company gain further recognition in the industry.