Clean Bottle Shark Tank Update | Clean Bottle after Shark Tank
What is Clean Bottle?
Clean Bottle is a reusable water bottle with two screw-off ends that make cleaning the bottle easier. David Mayer of Boston, Massachusetts, is the creator of The Clean Bottle. He previously worked for Goldman Sachs, Juniper Networks, and Cisco before founding Clean Bottle.
When he sold Clean Bottle in 2018, he ended his involvement with the firm. He is presently AllStripes’ Vice President of Operations and Marketing.
David was motivated to design the bottle as a replacement for regular water bottles. He obtained patents to prevent other firms from profiting from Clean Bottle’s concept. This practically meant that the bottles could only be produced by his firm.
David learned after establishing Clean Bottle that he had spent all of his money on the venture. As a result, he lacked the necessary finances to adequately sell his goods. He utilized this problem to come up with a novel marketing strategy.
Who is the founder of Clean Bottle?
David Mayer of Boston, Massachusetts, is the founder of The Clean Bottle. He previously worked for Goldman Sachs, Juniper Networks, and Cisco before founding Clean Bottle.
He ended his involvement with Clean Bottle when he sold the firm in 2018. He is presently the Vice President of Operations and Marketing at AllStripes.
David chose the Tour de France as the event that would provide Clean Bottle with the exposure it required to flourish.
He was costumed as the Clean Bottle mascot and appeared with the motorcyclists. The idea was brilliant since it provided Clean Bottle with the international attention that came with the event.
Clean Bottle made around $700,000 in sales as a result of the premeditated hoax. The firm produced $70,000 in a fortnight and was given the option to be stocked in a variety of locations.
What Happened to Clean Bottle at Shark Tank pitch?
Mayer opted to propose his firm to Shark Tank investors for partnership and business expansion in episode 1 of Season 3 of Clean Bottle on Shark Tank.
Mayer enters the Shark Tank asking for $60,000 in exchange for 5% stake in his firm, which is valued at $1.2 million.
Mayer, accompanied by his bottle mascot, explains why traditional bottles are difficult to clean and shows off his Clean Bottle invention, demonstrating how the nozzle is also detachable, making the entire device washable.
He hands out samples, making careful to give Robert Herjavec the runner’s bottle, which has a case with a handle.
Mayer has clearly done his homework and is aware that Herjavec ran in the New York City marathon. Mayer discusses his $750,000 in sales, which equates to around 150,000 bottles. The Sharks are curious.
Daymond John comments on the mascot’s height, and Mayer has him remove the top of the suit to expose his spokesperson: two-time NBA Champion Bill Walton.
The Sharks are impressed, but Herjavec questions why, if Mayer earned $118,000 last year, he’s prepared to give up stock in his firm to secure a Shark investment.
Mayer reveals that he is preparing to create a steel bottle line that will cost around $60,000. He needs the money to launch his new line while still making a profit. He’s open to bargaining.
Daymond John is prepared to provide $60,000 in exchange for 25% ownership of the firm. Mayer is unwilling to give up such a substantial portion of his wealth for the sake of the firm.
Kevin O’Leary has offered $100,000 in exchange for $.50 from every bottle sold in perpetuity. Mayer is unwilling to lose so much money at this point of his career.
The Sharks are attempting to derail him, but Mayer is adamant about not giving up too much equity in exchange for the cash he requires. Robert Herjavec enters the fray, offering $60,000 for 10% equity.
Only Mark Cuban is remaining. He offers $60,000 in exchange for 8% equity. The Sharks are involved in a bidding battle. Herjavec reduces his offer to $60,000 in exchange for 5% of the company’s stock.
Daymond John withdraws his offer in light of the other offers on the table. Barbara Corcoran has quit. There are three bids on the table.
Kevin O’Leary is offering $100,000 for $.50 each sale. Robert Herjavec offers $60,000 in exchange for 5% equity. Mark Cuban is providing $60,000 in exchange for 8% equity.
Mayer tries to bargain with Mark Cuban, while Robert Herjavec is irritated by being “ignored.” He withdraws his offer. He wants Mark Cuban to lower his offer to 6% equity.
Mayer requests a pause to phone his father, a business colleague. His father tells him to maintain his resolve.
In the end, Mark Cuban beats Mayer to the punch. Mayer put everything on the line by bargaining, but in the end, he got his deal from Mark Cuban and exits the pitch with a deal.
What Happened to Clean Bottle after Shark Tank?
Clean Bottle has grown rapidly since its appearance on Shark Tank. The deal with Mark Cuban was completed, and the bottles are now available in original plastic and stainless steel, as well as a variety of styles.
Accessories supplement the line, providing the product a foothold in a wide range of markets. Split Peak LLC, a private investment business located in Boca Raton, FL, purchased the company in December 2018 for an unknown sum.
Steel tumblers and coffee mugs were added to the range. Annual revenue is $4 million as of November 2021.
Net Worth of Clean Bottle
The company was valued at $1.2 million during the pitch, after the investment done by Mark Cuban the company valued at $750,000. In 2021 the company has a net worth of $10 Million.
Clean Bottle FAQs
What is Clean Bottle?
Clean Bottle is a cleaning products company. The product is a patented flexible and washable bottle.
Who is the founder?
The company was founded in 2008 by David Mayer. David Mayer is the product’s inventor and the founder of Clean Bottle.
How much was asking on Shark Tank?
Mayer was asking for $60,000 for a share of 5% equity in the company, it was valued at $1.2 million when he asked for the investment.
Did he have the deal?
Yes he did and exited as a Shark Tank winner!
How much was the deal?
Mark Cuban offered $60,000 for 8% equity shares of the company.
Is clean bottle still in business?
Clean Bottle is currently available in over 5000 locations throughout the US and in six countries, offering a wide range of bottles and hydration solutions for cyclists, hikers, runners, yoga, crossfit, and others.
Clean Bottle now provides custom printing on all of its bottles, making them ideal for corporate events, celebrations, and promotions.
What is Clean Bottle’s phone number?
What is the company’s annual revenue?
The company’s annual revenue was $4 million in 2021.
Where is Clean Bottle bottles sold?
Clean Bottle bottles are sold in the US and internationally.
What happened clean bottles?
Split Peak LLC, a private investment business located in Boca Raton, FL, has purchased Clean Designs LLC, the parent company of Clean Bottle. Clean Bottle now provides custom printing as well.
Is my bottles dishwasher safe?
It is conditional. The plastic bottles may be washed in the top rack of a dishwasher. Hand-washing the stainless steel bottles are recommended to guarantee that the vacuum insulation remains intact and effective.
Do your bottles come with a warranty?
Yes! They provide a three-year limited warranty that covers any manufacturing faults; please contact them at [email protected] for more information. Please bear in mind that this guarantee excludes regular wear and tear.
What is the net worth of David Mayer?
David Mayer was worth around 1.5 million.