Eco Nuts Shark Tank Net Worth 2023
Eco Nuts, a company worth $1.3 million at the time of its pitch in 2020, had seen significant success in terms of sales and revenue generation and had achieved an annual revenue of $1 million by 2021.
However, despite their successes they announced that they would cease operations in March 2022 as orders were no longer accepted from that point forward.
Consequently, Eco Nuts is now out of business with its founders having made the decision to shut down all operations for good.
What is Eco Nuts?
Eco Nuts is a company that produces laundry soap using soap nuts, a Himalayan organic fruit, and is committed to environmentally friendly and sustainable practices. The company also offers natural cleaning powder, reusable bamboo paper towels, lavender and liquid hand soap.
The founders of Eco Nuts are Mona Weiss and Scott Shields, who had prior experience as entrepreneurs. Mona worked as an art director after previously performing on Sesame Street, while Scott, who was also an actor, had always been passionate about reducing the use of harmful plastics and chemicals.
In 2009, Mona discovered soap nuts as a potential solution for an organic, hypoallergenic and eco-friendly laundry detergent, but was disappointed to find them packaged in plastic. This led to the idea of sourcing soap nuts and packaging them in eco-friendly materials to sell through various channels, such as online, at fairs, and in stores.
Eco Nuts gained recognition for its commitment to environmental stewardship and sustainable practices. Their detergent effectively cleans clothes without harsh chemicals, and the soap nuts also act as a natural fabric softener.
The company uses only natural ingredients and recyclable packaging, and has developed a process to remove the seeds from soap nuts which can leave stains and germs.
What Happened to Eco Nuts at Shark Tank pitch?
Mona Weiss and Scott Shields made an appearance on Shark Tank with the intention of securing a $175,000 investment for a 15% stake in their company, Eco Nuts. They valued their business at $1.2 million.
Eco Nuts is a brand that offers environmentally-friendly cleaning products made from soap berries or soap nuts, which are organic Himalayan berries that produce natural soap. The company’s products are packaged with minimal plastic and can be used for multiple laundry loads, thus saving both money and the environment.
During their pitch, Mona and Scott revealed that they had earned approximately $100,000 in 2011 and $250,000 in 2012 through social media marketing.
Despite this, none of the Sharks expressed interest in investing in the company. Some questioned the size and potential of the market, while others disagreed with the company’s valuation. Consequently, Mona and Scott left the show without a deal.
After their appearance on Shark Tank, Mona and Scott worked hard to prepare for the launch of their new laundry detergent. Despite being very busy, the couple remained dedicated to the business. However, they eventually broke up in 2015, and Mona departed from the company.
Eco Nuts went on to win the Best New Green Product award at a trade show and was recognized as a leader in natural and organic products.
The company continued to expand its product line, introducing items such as dryer balls, liquid detergents, personal care products, and essential oils. Despite the challenges they faced, the company remained successful, earning $1 million in 2021.
Net Worth of Eco Nuts
The company’s valuation was $1.3 million at the time of the pitch. Since then, the company has achieved sales and generates an annual revenue of $1 million, resulting in an increase in its valuation in 2021.
Eco Nuts FAQs
What is Eco Nuts?
Eco Nuts is a laundry detergent made from Himalayan Acacia Wood.
According to the company, this wood is perfectly suited for making soap. Given its super-low moisture content and high saponification value, it works like a high-quality plant-based soap in every way.
The wood itself is not really an essential oil and low in aroma, which makes it ideal for laundry soap.
Who is the founder?
Mona Weiss and Scott Shields, who met in 2009.
What is their offer on Shark Tank?
They were looking for $175,000 for 15% of their laundry detergent business.
Did they get deal?
No, they walked away from the Sharks without any deal.
Is Eco Nuts still in business?
Yes, it is still in business.
How many workers?
They have five employees.
Has it been profitable?
Yes, the company made $1 million in sales as of 2021.
What is Eco Nuts success rate?
Every business has its own success rate, but they can learn from the mistakes of others. The key is to modify their game plan for their specific business situation.
What is Eco Nuts Business Model?
Eco Nuts produces eco-friendly cleaning products out Acacia wood. All products are packed with less plastic.
What is the product?
Eco Nuts is a detergent made from soap nuts. This unique material can produce dry cleaning-quality laundry soap at a fraction of the energy costs while still being good for their clothes.
How does it work?
When one washes their clothes with Eco Nuts, they will notice that they come out clean and fresh and so much softer. It’s all done with natural ingredients and without any harsh chemicals or coloring agents.
Are soap nuts bad?
Soap nuts are an alternative, but may not be suitable for all laundry requirements. They wash, clean, remove odors, and some stains.
Just a gentle wash, adds Barber. “Users may need to use a stain stick or white vinegar as fabric softener.
What happened to eco nuts after shark tank?
Eco Nuts redesigned its product packaging after Shark Tank and released new items including Wool Dryer Balls, Natural Laundry Detergent in a pump, Organic Surface Cleaner in a spray, Veggie Wash in a spray, and washable and reusable bamboo towels.
What is the net worth of Scott Shields?
Scott Shields net worth unknown.
What is the net worth of Mona Weiss?
Mona Weiss’ net worth is unknown.