Balm Chicky Balm Balm Shark Tank Net Worth 2023
Balm Chicky Balm Balm Shark Tank Net Worth
Balm Chicky Balm Balm is a sharable lip balm company founded by Liz Moscoe and Abby Schwab.
In February 2015, they appeared on Shark Tank and sought $75,000 in exchange for a 20% equity stake. Before appearing on the show, their business was valued at $375,000 USD.
They had only sold $17K worth of product at the time of their appearance, but have since grown to have competitors such as The Lip Bar and Lipslut. Their current net worth is unknown.
What is Balm Chicky Balm Balm? Who is the founder of Balm Chicky Balm Balm?
Balm Chicky Balm Balm is a lip balm brand that takes inspiration from the 1970s, when it was common to carry lip balm and a comb in your back pocket.
The brand’s unique feature is its product design, which includes flavors such as Juicy Melons, Wild Mountain Honey, Huge Cucumber & Mint, Sweet Baby Ginger, and Hot Chocolate Love.
Balm Chicky’s lip balm tubes are double-sided, allowing you to share with a friend without worrying about germs. This design is protected by a patent.
The company was founded in 2010 by Elizabeth Moskow and Abby Schwalb, two rebels with a purpose who became friends in Portland, OR.
Their lip balms are all-natural and contain organic extra virgin olive oil, organic palm oil, organic hemp seed oil, beeswax, rosemary extract, vitamin E, mica, titanium dioxide, and iron oxide.
The friend end of the lip balm tube has a flip-top lid, which lets you use the lip balm without contaminating the personal end. The packaging design is copyrighted, giving them a monopoly in the lip balm business.
Balm Chicky’s branding has a feisty attitude that pays homage to the 1970s, with vintage box artwork and names like Juicy Melons, Sweet Baby Ginger, Huge Cucumber, Wild Mountain Honey, and Chocolate Love that have double meanings. They even offer a “Ménage a Trois” 3-pack of lip balms.
Balm Chicky lip balms are priced at $7 each, three for $18, or five for $25, and are available online and at 50-60 retail locations across the United States.
Balm Chicky Balm Balm Shark Tank Pitch
In an episode of Shark Tank, Elizabeth Moskow and Abby Schwalb presented their line of shareable lip balms called Balm Chicky Balm Balm to the Sharks.
They were seeking $75,000 in exchange for a 20% stake in their company, which was valued at $375,000. Their goal was to expand their retail distribution and increase their cash flow.
The entrepreneurs touted the “friend end” of their product, which they claimed allowed for sharing and served as a conversation starter.
They revealed that their product was available in 60 stores and had generated only $17,000 in sales, but they were still testing the market.
Mark criticized the pornographic packaging, but the entrepreneurs were interested in licensing it. Lori thought the product was overpriced compared to traditional lip balm, while Robert was not comfortable buying an adult-themed product for his children.
Kevin was not interested in the lip balm market and exited the deal, and Barbara did not see a need for the product and rejected the offer.
Despite their catchy name and unique selling proposition, the entrepreneurs failed to secure a deal, and their company did not appear to perform well after the show aired.
Their Amazon product received a low rating with only four reviews, and three years later, their website was no longer operational, indicating that the company went out of business.
Currently, Elizabeth Moskow works as a Culinary Director at a marketing firm in Boulder, Colorado, while Abby Schwalb is a freelance special event contractor in Portland, Oregon, according to their LinkedIn profiles.
Net Worth of Balm Chicky Balm Balm
The company valuation was $375,000 during and after the pitch, since then the company went out of business and hence the company net worth is not available.
Balm Chicky Balm Balm FAQs
What is Balm Chicky Balm Balm?
Balm Chicky Balm Balm is a brand of flavored lip balm that harkens back to the 1970s, when no one was caught dead without lip balm and a comb in their back pocket.
Who is the founder?
The two founders of Balm Chicky Balm Balm are Elizabeth Moskow and Abby Schwalb.
How much were they seeking on Shark Tank?
They were seeking for $75,000 for a 20% stake in their business.
Did they have the deal?
No, they didn’t get the deal on Shark Tank.
Is Balm Chicky Balm Balm still in business?
Balm Chicky Balm Balm is no longer in business and the company website is not currently in existence.
Where was the location of Balm Chicky Balm Balm?
The company is set up in Portland, Oregon, where they initially sold their lip balms.
What is Balm Chicky Balm Balm website?
The Balm Chicky Balm Balm website that is no longer in existence.
Was Balm Chicky Balm Balm a scam?
Balm Chicky Balm Balm was not a scam, they actually had products, and they just didn’t get the deal on Shark Tank.
How much was Balm Chicky Balm Balm cost?
Balm Chicky Balm Balm was $7 each, three for $18, or five for $25.
Where can I buy Balm Chicky Balm Balm?
Balm Chicky Balms were available online, and at 50-60 retail locations around the country, including Nordstrom stores in Bay Area and Washington D.C.
Is Balm Chicky Balm Balm natural balm or balms?
It’s clarified lip balms in various flavors.
What does Balm Chicky Balm Balm sell?
Balm Chicky sells flavored lip balms that contain beeswax and essential oils. The product is also designed to allow for sharing.
What is Balm Chicky Balm Balm niche?
Their niche is adult-themed products.
What were Balm Chicky Balm Balm ingredients?
Lip balms contain beeswax and essential oils. Beeswax: Gooey Wax secreted by worker bees for the construction of honey comb, or beehives.
Bees wax is the main component in natural lip gloss. It is a water-insoluble substance that requires melting to be used in cosmetics and skincare products.
Was Balm Chicky Balm Balm safe for skin?
Yes, they were natural lip balms that were non-toxic and non-alkaline.
What was the best-selling flavor of Balm Chicky Balm Balm?
Their best-selling flavor is Wild Mountain Honey.
Do you know the net worth of Balm Chicky Balm Balm?
Their net worth is not available.
Who was the targeted market of Balm Chicky Balm Balm?
They targeted all ages, genders, and demographics.
What was the revenue of Balm Chicky Balm Balm?
They had revenue of $17,000 in their first 6 months of operation.
Was there any lawsuit on Balm Chicky Balm Balm?
No, they did not have any lawsuit or controversy.
Where are the founders now?
The founders of Balm Chicky Balm have since moved on. Elizabeth Moskow is the Culinary Director for a branding firm, and Abby Schwalb is a freelance event contractor in Portland, Oregon.
How much is Elizabeth Moskow worth?
Elizabeth Moskow net worth is not available.
What is the net worth of Abby Schwalb?
Abby Schwalb net worth is not available.
