Fur Oil Shark Tank Net Worth 2023
Fur Oil Shark Tank Net Worth
The founders of Fur, Laura Schubert and Lillian Tung, had a net worth of $1.6 million USD as of 2022. In February 2020, they appeared on Shark Tank Season 11 and made a deal with Lori Greiner for $500,000 in exchange for 8% equity.
Since then, their sales have dropped from the initial spike due to the ‘Shark Tank effect’, but it is unclear what their net worth is in 2023.
What is Fur Oil? Who is the Founder of Fur Oil?
Fur Oil is a moisturizing hair product containing a blend of tea tree, jojoba, grapeseed, and clary sage seed oils. This product is designed to help you maintain the natural state of your intimate areas.
Fur is a self-care company that aims to challenge societal norms and stigmas around body hair by providing products for your nether regions.
Their flagship product, Fur Oil, is made with high-quality oils that are vegan, cruelty-free, and non-toxic. It is gentle enough to use on hair anywhere on your body.
Fur Oil is intended to soften hair and prevent ingrown hairs while also keeping the skin smooth and hydrated.
The brand offers a wide range of products to suit different grooming and hairstyling preferences, including oils, serums, stubble cream, salt scrubs, and other items.
Laura Schubert and Lillian Tung are the creators and owners of Fur LLC, with Laura serving as CEO and Lillian as CMO. They have been friends since middle school and attended Columbia University together.
Laura came up with the idea for a line of intimate hair care products after discussing the challenges of grooming pubic hair with her sister in 2014.
She faced skepticism when she initially reached out for help, but she eventually connected with Lillian, who was working at L’Oréal at the time.
Fur Oil was the first product they developed, using grape seed oil, jojoba oil, clary sage oil, and tea tree oil. This blend helps prevent ingrown hairs and conditions hair for a more natural look.
The product line has since expanded to include stubble cream, bath beads, shaving cream, scrubs, wipes, and more.
Fur products are available for purchase on their website and on Amazon. A 14 ml bottle of Fur Oil costs $26.
Fur Oil Shark Tank Pitch
Laura and Lillian appeared on the thirteenth episode of Shark Tank’s eleventh season to pitch their business, seeking a $500,000 investment in exchange for a 2.5% stake, implying a $20 million valuation.
They showcased their business and handed out samples, revealing their impressive sales of $5 million in the past year. However, the Sharks were not convinced about their business’s valuation.
They shared how their product gained popularity following an endorsement from actress Emma Watson. The Sharks showed interest despite the product’s high cost of $5.34 and a selling price of $46 per bottle.
Daymond was interested in investing but requested a 15% stock stake in the company, while Kevin O’Leary offered $500,000 in exchange for a royalty of $1 per bottle until he earned $1 million, then maintaining a 2.5% equity stake.
Lori Greiner proposed $500,000 for a 12% stock stake in the company and an additional $50,000 for a body positivity organization.
Maria Sharapova expressed admiration for the entrepreneurs but withdrew from the investment, stating that 2.5% was insufficient.
When Schubert asked the Sharks if they would accept a 5% stake, the initial Sharks rejected the offer.
John offered to reduce his stock stake from 15% to 10%, but Schubert and Tung still refused his proposal, causing John to withdraw from the transaction.
Greiner’s final offer of $500,000 for an 8% equity stake and $50,000 for a charity that promotes body positivity was accepted by the co-founders, despite their initial reluctance to give up additional shares in their company.
It’s common for products featured on Shark Tank to experience an increase in sales, which is known as the “Shark Tank effect.” This was the case for Fur, as their sales spiked following their appearance on the show.
Although Lori’s contract was not finalized, Fur continues to operate and sell their products on Amazon.
As of March 2020, Fur had successfully secured their product placements at various retailers such as Goop, Revolve, Neiman Marcus, Credo, Free People, and Urban Outfitters.
As of June 2021, Fur’s annual revenue had reached $1 million.
Fur Oil Net Worth
Before appearing on Shark Tank, the co-founders asked for $500,000 from investors in exchange for 2.5% of Fur, valuing the brand at $20 million. However, by accepting Lori Greiner’s $500,000 offer for an 8% equity stake in Fur, the owners effectively reduced their valuation to $6.25 million.
Fur Oil Competitors
There is no competitor identified for Fur Oil.
Fur Oil FAQS
What is Fur Oil?
Fur Oil is a hair moisturizer made from a blend of tea tree, jojoba, grapeseed, and clary sage seed oil. As a result, Fur Oil will assist them in maintaining the natural state of this region of the bod.
Who is the founder of Fur Oil?
The co-founders are Laura Schubert and Lillian Tung. They met in high school and have been friends since that time.
How much was they asking in the Shark Tank?
The co-founders were hoping to obtain $500,000 in exchange for 2.5% of Fur Oil, which would have valued the brand at $20 million.
Did they get the deal?
They did. Lori invested $500,000 in exchange for 8% of the company’s equity and $50,000 to a foundation that supports body positivity.
Is Fur Oil still in business?
Fur Oil is still in business, and the products are available on Amazon and their website.
When was Fur Oil aired on Shark Tank?
Fur Oil was featured on season 11 episode 13 of Shark Tank which was aired on February 28, 2019.
Where can they buy Fur Oil?
Fur’s products are still available in over a thousand stores across the United States, including 600 Ulta Beauty locations.
Urban Outfitters, Free People, Goop, and Neiman Marcus are among the other retailers.
Fur products can be purchased online through Amazon and their official website.
How is fur doing after Shark Tank?
The company is still in operation, and they can purchase their products on Amazon.
As of March 2020, the ladies’ product was available at Goop, Revolve, Neiman Marcus, Credo, Free People, and Urban Outfitters.
They had a $1 million annual revenue as of June 2021.
What is Fur Oil ingredients?
Fur Oil is an all-natural product with four main ingredients, according to Lillian Tung, co-founder of Fur: jojoba oil (to soften the hair and moisturize the pubis), grapeseed oil (for hydration), tea tree oil (to prevent ingrown hairs), and clary sage seed oil (to reduce redness and irritation).
Does Fur Oil soften pubic hair?
Fur Oil was created specifically for pubic hair and skin, with a signature blend of lightweight oils that gently softens hair and clears pores for fewer ingrowns and healthier skin.
No matter how they choose to groom, regular use will make their skin less prone to ingrown hairs and irritation.
Does fur oil have essential oils?
While Fur products do not contain any artificial fragrances, some do contain lavender oil, clary sage oil, and tea tree oil.
When these essential oils are applied, they leave a natural scent that usually dissipates after a few minutes.
Can they put fur oil on their face?
Fur Oil is ideal for use anywhere hair meets skin, such as the underarms, chest, legs, face, or pubic area. It leaves no residue behind, and the scent fades and absorbs quickly.
For the best results, use Fur Oil on a daily basis for softer skin and hair, as well as fewer ingrown hairs over time.
Does Fur Oil actually work?
Fur Oil can be used as an all-over hair conditioner: apply it to itchy or dry beards, head hair, and body hair for noticeably softer texture.
For an all-over moisturizer, add a few dropperfuls of Fur Oil to the bath. A few drops of Fur Oil applied to incision scars will help to reduce redness and inflammation.
Is fur oil free of cruelty?
They are not tested on animals! No phthalates, parabens, sulphates, silicones, cortisones, artificial dyes, or fragrances are used in fur products.
Does fur oil stain clothes?
Fur Oil leaves no residue and the relaxing scent fades quickly. Because the oil dries quickly, it will not stain their silk. When to use it: They recommend using Fur Oil as part of their daily ritual for the best results.
Are their products’ ingredients clean?
Yes! They only use natural, clean ingredients. There are no phthalates, parabens, sulphates, silicones, cortisones, artificial dyes, or fragrances in fur products. They are also vegan and gluten-free.
Is Fur safe to use while pregnant and breastfeeding?
Fur has not been tested for use during pregnancy or breastfeeding. Before beginning any new beauty regimen, they recommend that they consult with their doctor.
