DetraPel Shark Tank Net Worth
DetraPel is a liquid repellent for clothing and shoes, and its founder David Zamarin appeared on Shark Tank in search of $200,000 for a 20% stake in his firm Mark Cuban and Lori Greiner both offered $200,000 for 25% of the company.
According to Detrapel’s net worth before appearing on Shark Tank was 1 million USD. However, it is unclear what his current net worth of Detrapel is after appearing on Shark Tank.
What is DetraPel and Who Founded DetraPel?
DetraPel is a remarkable spray that can repel water and stains from nearly any surface, including leather, wood, fabric, metal, glass, and stone. It can clean dirty shoes, and discolored sofa cushions, and even remove graffiti from stone walls without affecting the surface’s color.
The mastermind behind this product is David Zamarin, a Babson College alumnus with a degree in Business Administration and Management, who also studied at the University of Pennsylvania.
David founded DetraPel when he was just 15 years old in 2013, with the aim of developing new solutions to address the environmental and health issues caused by manufactured goods.
While attending chemistry classes in the evenings, he researched how DetraPel’s PFAS-free coatings could resist liquids and stains. His primary objective was to create an eco-friendly and safe product for consumers.
Despite only raising 6 percent of his $3000 goal on the crowdsourcing platform IndieGoGo, David’s determination paid off following the product’s successful launch. He expected annual revenues in the $300,000 range. However, to scale up production and expand the business, David needed investment and expertise.
David remains the CEO of DetraPel and has been named a Forbes’ 30 under 30 list candidate. He also provides motivational speeches, like many other successful CEOs.
DetraPel Shark Tank Pitch.
DetraPel is a simple-to-use, non-toxic spray that repels water and stains on various surfaces such as fabric, leather, wood, metal, glass, and stone. Its creator, David Zamarin, founded the company when he was only 15 years old in 2013, with a goal to develop environmentally friendly and risk-free products for consumers.
In 2017, David appeared on Shark Tank in search of $200,000 for a 20% stake in his company, which is valued at $1 million.
During his pitch, David demonstrated the effectiveness of DetraPel by spilling coffee and red wine on treated surfaces without leaving any stains. Sharks were impressed with his product and the fact that David had sold a shoe-cleaning company producing $25,000 per month for $150,000 to fund his start-up.
After receiving several offers, David agreed to a $200,000 investment with Mark Cuban and Lori Greiner in exchange for a 25% stake. The deal was completed, and following the initial air date, the company sold over 10,000 units and had a two-month backlog of orders.
DetraPel continued to source and produce its goods in the US and relocated to a 12,000-square-foot location in Framingham, Massachusetts, in February 2019.
When the COVID-19 pandemic hit, David converted 98% of his manufacturing capacity to disinfectants and hand sanitizers for local companies, hospitals, and first responders. DetraPel’s annual revenue grew to $5 million, and in December 2020, David was chosen for Forbes’ 30 Under 30 list.
As of June 2021, the company relocated to a larger, 40,000-square-foot building and employed 15 staff members, including chemists, with plans to expand its product line to include disinfectants and sanitizers.
DetraPel Net Worth
David is on Shark Tank in search of $200,000 for a 20% stake in his firm. This represents a $1,000,000 value. He accepted an offer from Mark Cuban and Lori that values their business at $800,000.
Top Competitors of DetraPel are as follows;
Pittsburgh Paints, Unelko, nCoat, ECP, Nutech Paint, Sigma Paints, Protexion and Duracote.
Is DetraPel successful?
DetraPel has won several small business challenges and received proposals from four of the five Sharks on the television show Shark Tank since its inception.
The firm generates $120,000 a month in revenue and employs bright individuals who are assisting in propelling the company to new heights.
Is DetraPel safe?
Non-toxic and free of propellants. It is safe to spray in any confined space.
Where is DetraPel now?
Customers include carpet and furniture manufacturers. They continue to source and produce their goods in the United States.
They relocated to a 12,000-square-foot location in Framingham, Massachusetts, in February 2019. When the Covid-19 epidemic struck, they were making $125,000 in sales each month.
Did DetraPel get a deal on Shark Tank?
DetraPel, a BostInno – Babson start-up, receives $200,000 for a 25% stake in Shark Tank from Mark and Lori.
Does DetraPel work on leather?
It is free of hazardous fluorochemicals / PFAS and works on a variety of materials like leather, canvas, cotton, polyester, and others.
To protect their favourite fashion items, use DetraPel Bag & Accessories Protector.
What exactly is DetraPel?
DetraPel is a non-toxic spray that repels water and stains on practically any surface, including fabric, leather, wood, metal, glass, and stone.
It cleans dirty shoes, discoloured sofa cushions, and even graffiti off a stone wall without changing the colour of the surface.
Does DetraPel work on suede?
Without a doubt. DetraPel Suede & Nubuck Protector may be used on any suede surface.
How do they open DetraPel?
Please follow these steps to open their bottle:
Remove the shrink sleeve made of plastic.
Take off the transparent cap.
Press on the trigger’s lowest slanted edge until you hear a *click*.
What does DetraPel look like?
Each bottle contains six ounces of the protective spray. It looks like a plastic bottle with an angled nozzle at one end and a trigger at the other end.
Is there an expiration date for DetraPel?
Their products have a shelf life of 2 years. At this time, they are working on implementing the expiration dates to the label
How much does DetraPel cost?
One unit costs $1.14 to produce and costs $12.99 to sell.
Where can they buy DetraPel?
They can purchase DetraPel at any of the retailer stores like Amazon and Target.
What are the weaknesses of DetraPel?
The weakest aspect of the product is that it takes some time for orders to be filled. Customers should be aware of this when placing their order.
Is DetraPel waterproof?
Yes, it is 100% waterproof and suitable for use on a wide range of surfaces, including leather furniture, sneakers, clothing and carpets.
What are the strengths of DetraPel?
The product is non-toxic and free of fluorochemicals, a major factor behind the popularity of the product.
DetraPel repels water, keeping clothes and surfaces dry, which makes it ideal for use in kitchens, bathrooms and laundry rooms.
Is DetraPel a private or public Company?
The DetraPel Company is incorporated in the state of Massachusetts and is a privately held company.
Does DetraPel ship internationally?
Yes, they ship all over the world.
Is DetraPel FDA approved?
Yes, it is not approved by the United States Food and Drug Administration (FDA).
What is the net worth of David Zamarin?
There is no Update about his worth.