Bite Toothpaste Bits Shark Tank Net Worth 2023
During its Shark Tank pitch, Bite Toothpaste Bits was valued at $7.5 million. Following the pitch, the company experienced significant growth in its sales and revenue.
In 2021, the company generated $4 million in annual revenue, which is a strong indication that its net worth has increased since its appearance on the show.
Bite Toothpaste Bits is a unique and innovative dental care product that has gained popularity among consumers who are looking for eco-friendly alternatives to traditional toothpaste.
The company’s Bite Toothpaste Bits are small tablets that are made from all-natural ingredients and are packaged in compostable materials, making them a sustainable and convenient option for those who are environmentally conscious.
The company’s appearance on Shark Tank was a significant boost to its visibility and credibility, as it allowed the company to showcase its product to a wider audience and attract potential investors.
The fact that Bite Toothpaste Bits was valued at $7.5 million during the pitch is a testament to the company’s potential for growth and success.
Since then, Bite Toothpaste Bits has continued to expand its product line and increase its distribution channels, which has contributed to its impressive sales and revenue growth.
Its commitment to sustainability and innovation has also resonated with consumers who are looking for products that align with their values.
What is Bite Toothpaste Bits? Who is the Founder of Bite Toothpaste Bits?
Bite Toothpaste Bits are quite handy as they are small toothpaste tablets that can be used individually. Instead of relying on commercially available personal care products, people can use these toothpaste bits to make their own.
These bite-sized toothpaste bits are so named because they need to be bitten into, as opposed to simply popping them into one’s mouth like regular toothpaste packets.
Bite Toothpaste, now known as Bite, is a personal care and hygiene brand that emphasizes plastic-free and sustainable products.
Lindsay McCormick and Asher Hunt co-founded the company, with Lindsay having earned a bachelor’s degree in Communication and Media Studies from East Carolina University before starting Bite.
Initially, Bite became known for its innovative toothpaste tablets, Toothpaste Bits, and has since expanded to include a range of products, such as a Whitening Gel Teeth Whitening Kit, Deodorant, Dental Floss, Bamboo Toothbrush, and Mouthwash Bits, which are available in the same tablet format as their highly acclaimed toothpaste product.
Lindsay and Asher have impressive backgrounds in their respective fields, with Lindsay having worked in the entertainment industry after college and Asher having graduated from California State University, Northridge with a bachelor’s degree in product design and becoming a pioneer in product development and entrepreneurial investing.
Along with co-founding Bite, Asher is the creator and CEO of the startup overnight, which produces gluten-free, vegan, and cruelty-free pills made with natural ingredients such as sodium bicarbonate and activated charcoal.
Lindsay initially made the toothpaste tablets in her apartment for personal use, but after their viral success, she hired Asher and officially started the business in May 2018.
The toothpaste pieces are now manufactured in a factory in Los Angeles and packaged in biodegradable glass bottles.
A one-month supply costs $12 when purchased one-time or $7.50 a month when subscribed, and refills are packaged in biodegradable bags. Bite also produces biodegradable bamboo toothbrushes infused with bamboo and charcoal.
Bite Toothpaste Bits Shark Tank Pitch
The company has grown through self-funding and reinvestment rather than borrowing or receiving money from venture capitalists.
Although Asher and Lindsay are committed to building a sustainable business, they are seeking assistance from Shark Tank investors to expand. They are asking for $325,000 for a 5% stake in their $7.5 million-valued company.
The Sharks appreciate Lindsay’s thorough research, as well as the company’s concept and $1.3 million in revenue. However, they have concerns about the company’s valuation and the potential for competition from larger corporations.
Kevin O’Leary offers $325,000 for a 20% stake in the company, believing there will be significant future work and competition. Mark Cuban also offers $325,000, but for a 15% stake, echoing Kevin’s reasoning.
Lindsay ultimately decides not to accept either offer due to the large amount of equity they would have to give up.
Despite not striking a deal with the Shark Tank investors, the company remains highly profitable.
Since the episode aired in March 2020, the country has experienced a lockdown due to the COVID-19 pandemic, which has boosted internet shopping by 25%, with food products increasing by 100%.
The company continues to operate normally and supply products through Amazon and its website.
As of 2021, Asher and Lindsay still own 100% of the company, which generates $4 million in annual revenue despite competition from larger corporations.
Competitors of Bite Toothpaste Bits
While they have made a massive impact on the personal care industry, their product is not all that different from larger corporations such as Colgate, Johnson & Johnson, Unilever, Kimberly-Clark, Clorox and Procter & Gamble.
Net Worth of Bite Toothpaste Bits
The company was valued at $7.5 million during the Shark Tank pitch. After the pitch the company had made sales with annual revenue of $4 million in 2021, this shows that since then the company net worth has increase.
Bites Toothpaste Bits FAQs
What is Bite Toothpaste Bits?
Bite Toothpaste Bits are kind of convenient. They are bite size toothpastes. However, one need to use them one at a time because they don’t come packaged in strips or jars.
They are actually able to make their own personal care products with them instead of purchasing the ones that are commercialized by other companies.
They are called “bite” toothpaste bits because they remind them to “bite” them instead of popping them into their mouth like regular toothpaste packets.
Who is the Founder?
The company was founded by Lindsay McCormick and Asher Hunt founded the business. Lindsay obtained a bachelor’s degree in Communication and Media Studies from East Carolina University prior to founding Bite.
What is their offer on Shark Tank?
They were asking for $375,000 for a 5% stake in their company, which is valued at $7.5 million.
Did they get an offer?
No, unfortunately, they did not.
Is fluoride in Toothpaste bad?
Numerous toothpastes include fluoride, which has been shown to promote tooth health.
While excessive fluoride can be harmful to health, the quantities found in toothpaste are typically harmless when used as directed. Toothpaste is a critical component of proper oral hygiene.
Where are Bite Toothpaste Bits made?
They manufacture their Toothpaste Bits, Mouthwash Bits, and Whitening Gel in California.
Was Bite on Shark Tank?
They founded a zero-waste toothpaste firm that was just featured on Shark Tank. This is how the day looks as the manager of a team of nine remote employees.
Lindsay McCormick is the founder and CEO of Bite, a firm dedicated to creating biodegradable toothpaste tablets.
When was Bite Toothpaste Bits made?
Bite premiered officially in August 2018. Here’s how it all began. Lindsay, the founder, traveled frequently for work and was frustrated by wasteful plastic toothpaste tubes.
Are Toothpaste tablets ADA approved?
Toothpaste tablets are promoted as having comparable effects as normal toothpaste. However, dental organizations such as the American Dental Association (ADA) have not yet authorized these tablets, citing a need for further study and data.
Do Toothpaste tablets work?
While chewable toothpaste pills may appear to be an excellent substitute for traditional toothpaste, they are not as trustworthy.
The toothpaste that is produced is tough to spread evenly across all of your teeth. This implies that certain teeth will remain unclean longer than others.
Does Bite Toothpaste expire?
Nonetheless, the expiration date is printed on the label of the majority of toothpaste tablet (and tube) brands.
For example, both Bite’s and Hello’s toothpaste pills have a 24-month or two-year shelf life when unused.
What is the net worth of Lindsay McCormick?
Lindsay McCormick has an estimated net worth of $1.5million.
