Pete Davidson trading punchlines for pitch decks? Yep, that happened. The “Saturday Night Live” alum showed up on the “Shark Tank” Season 17 premiere to back sock brand DoubleSoul, and let’s be real; it was a move no one saw coming. But instead of just clowning around, Davidson came prepared with a legit stake in the company and some pretty personal reasons for hopping on board.
Pete Davidson in Investor Mode
Davidson didn’t wander into the Tank as a Shark, but as a co-pitcher alongside DoubleSoul founder Ben Rosenbaum. And true to form, his introduction was refreshingly blunt:
“I get sent a lot of crap, and I usually give it to my cousins… I got sent DoubleSoul a couple of years ago, and I had to meet the team, and I wanted to be involved immediately.”
That’s peak Pete; equal parts dry humor and honesty. He wasn’t just throwing his name around, though. Davidson had already dropped $1 million for a 10% ownership stake and took on the role of Creative Director in 2024.
In the Tank, he and Rosenbaum asked the Sharks for $500,000 in exchange for 4% equity, which put DoubleSoul’s valuation at a cool $12.5 million.
Not bad for socks that claim to blend “self-expression, comfort, and sustainability.”
The Sharks Circle the Deal
Naturally, the Sharks bit. Guest Shark Kendra Scott tossed out a straightforward offer: $500,000 for 10% equity. Classic Shark Tank math; double the equity for the same cash.
Kevin O’Leary teamed up with Rashaun L. Williams for something spicier: $500,000 for 6.25% equity, but with strings attached. Their condition? If DoubleSoul ever sold, they’d get three times their investment back before anyone else saw profits. Ouch.
With the offers on the table, Rosenbaum did what any smart founder does… he called his wife, Allison Strumeyer, who also happens to be DoubleSoul’s CEO. After a quick check-in, the couple decided to roll with Kendra Scott’s offer.
Why This Is Still a Win
So, did Pete Davidson and Co. snag funding? Technically, yes; but not from the Sharks for his original ask. Instead, Rosenbaum and Davidson landed a deal with Kendra Scott, who brings more than just money to the table. Her retail empire and brand-building expertise could mean a major boost for DoubleSoul’s future.
And honestly, Davidson’s involvement already gave the company a spotlight most startups could only dream about. He’s got skin in the game, Kendra’s got the retail chops, and together, they’ve positioned DoubleSoul to level up in a way that feels like more than just a reality-TV gimmick.
At the end of the day, socks might not sound sexy… but with Pete Davidson in the Tank and a Shark on board, DoubleSoul’s story just got a whole lot more interesting.
“Shark Tank” airs Wednesdays at 10:00pm ET on ABC, streaming the next day on Hulu.
