SoaPen Net Worth in 2024: There have been many items on “Shark Tank” that are meant to keep kids clean and healthy over the show’s long history. Inventors who can come up with new ways to make parents’ lives easy can make a lot of money. Some ideas include kid-friendly liquid bandages and super-fresh, organic baby food.
The kids don’t like to wash their hands. But they forget to wash, don’t scrub long enough, and might not even use soap. The entrepreneurs Amanat Anand and Shubham Issar fixed this problem with SoaPen. Now kids can enjoy washing their hands. On Season 13 of Shark Tank, will the sharks like this good deal? Find out by reading our SoaPen report.
What Is SoaPen?
SoaPen is a hand soap for kids that looks like a pen. There are three colors of this soap: Tangy Tangerine (red), Berry Blast (blue), and Fresh Pear (green). There is 33 ml of soap in each pen. Since kids’ hands are so soft, SLS, parabens, phthalates, and EDTA have not been used in soap.
A lot of different things were used to make this soap, such as Propanediol, Cocamidopropyl Betaine, Myristamidopropyl PG-Dimonium Chloride Phosphate, and more. This soap is very easy for kids to use. They just need to draw it on their hand wet it and rub it in.
The next step is to wash your hands with water. This takes 20 to 40 seconds. As a membership service or a one-time purchase, you can get this soap. If you buy it all at once, it will cost $17.99, and if you subscribe, it will cost $16.19. Users can buy this soap on both Amazon and the Company’s website.
Who started the company SoaPen?
Indian women Amanat Anand and Shubham Issar are co-founders of the New York-based company SoaPen Inc. They both have the same level of education: a Bachelor of Fine Arts (BFA). In 2017, both of these co-founders were named to Forbes’ 30 Under 30 list.
SoaPen Net Worth in 2024
After being in business for a long time, this company showed Shark Tank its sales report, which wasn’t very good. Based on what we saw on Shark Tank about sales, we think SoaPen is worth between $1 million and $3 million. You can find this hand soap on Amazon and rate it 4.2 out of 5, which is a great score. A lot of people like the way this product smells.
This item can be bought all over the United States and on the Amazon Global site as well. People can also get a deal if they buy this item from Amazon. The main office of this Private Manufacturers Handmade Soap Company is in Brooklyn, New York, USA. As of April 2024, SoaPen is still in business.
Before Shark Tank, SoaPen
This business was started by Amanat Anand and Shubham Issar in 2015 after they finished college. Both of these co-founders had a lot of problems at the start of the business, but their business advisors helped them through it. The co-founder and their business were both shown at the “2019 Women In The World Summit.”
They got the idea for this business when they saw the UNICEF Wearables for Good Challenge. These people learned about a lot of diseases and how to avoid getting any of them by washing their hands. This is where SoaPen got its start. To win the task, they began to use their prize money for research and development.
Based on their study, they learned that about 1.5 million kids younger than 5 are dying from diseases that can be spread. On September 27, 2017, they started a 30-day Kickstarter effort with a $25,000 goal. On October 27, 2017, 227 people gave $28,460 to this cause. To help their business grow and get advice, Anand and Issar chose to go to Shark Tank to find funding.
How did SoaPen do on the Shark Tank?
Anand and Issar both went on Shark Tank with their business, SoaPen and asked the sharks for $100,000 in exchange for a 10% stake. The way they talked about their product was great. Issar came to the US when he was 17 to study to be a designer. It has made $85,000 in sales so far, and the test version of this business opened in 2019.
This business hasn’t made any money yet, and they haven’t spent any money on marketing either. Since they had a story in “Real Simple Magazine” in October 2019, all 5,000 of their products sold out in three weeks. They sold $225,000 worth of shares at a $1 million price to raise money for their first test version.
The cost to make this three-product pack is $4.30, but it sells for $14.99, making it a 40% profit margin. For the past two months, they’ve been offering goods for sale on Amazon through ads. Kevin O’Leary said that he is not involved with this company because it is still in its early stages.
Mark Cuban once said, “You’re not early, but you should know how to sell.” There should be news about this product on social media and in social media posts. Mark isn’t investing in this, though, so he’s out. “He couldn’t admire or respect you more,” Robert Herjavec says, but that’s all he has to say about it for now.
Lori Greiner said that she is not involved with this business right now because it is still too early for her. In his pitch to Mark Cuban for his company Nextdoor, Nirav Tolia liked this business idea a lot and said that Mark treated him like any other new business. Because Nirav thinks this business is still young, and because he says to pay for a guide, he is leaving.
Nirav then admitted that he had been wrong and made an offer of $100,000 for a 10% stake in the business and a $1,000 fee for every unit sold u
ntil Anand and Issar were paid $200,000. His wife would also help with the business. Anand and Issar agreed to what Nirav had to say. Put an end to Nirav Tolia If you put $100,000 into “SoaPen,” you’ll get 10% ownership and a $1 fee for every unit sold until you get $200,000.
Should you desire additional updates and insights on celebrities, peruse our previous posts where we’ve thoroughly explored every detail.
Update on SoaPen’s Shark Tank Appearance
Aanand and Issar didn’t get any money for their business on the Shark Tank stage, but Nirav did give him money when they were interviewing outside the stage. They both said yes to the deal. All of the shows were gone after this Shark Tank episode aired. A lot of people on social media have said that they think this hand soap is good.
After making more of the product and selling more of it, this business has made more of it. You can buy this item on Amazon, and it’s selling well. The new item from this business is called “SoaPen x Potty Training Book Bundle.” It costs $25. A report from CrunchBase says that on February 8, 2022,
MassChallenge put $150,000 into this company as part of the seed round. SoaPen put money into Shark Tank, and all of the sharks liked the product and gave help. Nirav joined this business as a 10% partner. This business also had a lot of sales after Shark Tank.
We haven’t found any proof yet that Nirav has closed the deal with this company. We’ll keep an eye on Amanat Anand, Shubham Issar, and their company for more news.
Keep up-to-date with celebrities’ net worth using Wortholino.