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 Shark Tank Update
In Season 11 Episode 13 of Shark Tank, Laura Schubert and Lillian Tung pitched their pubic hair care products under the brand name Fur Oil.
They asked for $500,000 for 2.5% equity and received an offer from Lori Greiner for $500,000 for 8% equity, which they accepted.
The pitch was successful, and Fur Oil has continued to grow since its appearance on the show. As of December 2022, Fur Oil has achieved $5 million in yearly sales, has no debt, and has incredible margins.
Fur Oil offers a wide variety of products, including oils, stubble cream, ingrown hair, and razor burn serums, salt scrubs, and more.
Their products encourage consumers to embrace their hairstyles, no matter what grooming regiment they prefer.
Fur Oil has also received an organic celebrity endorsement from Emma Watson, which has helped the business go viral.
Although the deal with Lori Greiner never closed, Fur Oil is still in business and their products can be purchased on Amazon and their website.
The company’s website is still active and selling products as of May 2022. Fur Oil has continued to grow and expand its product line since its appearance on Shark Tank, and it seems that the company has a bright future ahead.
Table: Fur Oil Shark Tank Summary
|Founders’ net worth||$1.6 million USD as of 2022|
|Shark Tank deal||$500,000 for 8% equity with Lori Greiner in Feb 2020|
|Sales since Shark Tank||Dropped after initial spike|
|Fur Oil||A moisturizing hair product for intimate areas|
|Founders||Laura Schubert and Lillian Tung|
|Fur LLC owners||Laura Schubert (CEO) and Lillian Tung (CMO)|
|Ingredients of Fur Oil||Tea tree, jojoba, grapeseed, and clary sage seed oils|
|Fur product range||Oils, serums, stubble cream, salt scrubs, and more|
|Fur Oil price||$26 for a 14 ml bottle|
|Shark Tank valuation||$20 million pre-money valuation before investment|
|Lori Greiner’s offer||$500,000 for 8% equity and $50,000 for a body positivity organization|
|Valuation after deal||$6.25 million|
|Fur’s annual revenue||$1 million in June 2021|
|Fur Oil competitors||Not identified|
Fur Oil FAQS
What Is Fur Oil And How Does It Work?
Fur Oil is an all-natural, full-body skin and hair treatment brand that is particularly focused on intimate areas.
It is designed to soften and hydrate the skin and hair in areas where hair meets skin, such as the pubic area, underarms, legs, chest, and face.
Fur Oil is made from a blend of natural oils, including jojoba, grapeseed, tea tree, and clary sage seed oil. It is vegan-friendly, cruelty-free, and non-toxic, as well as dermatologically and gynaecologically tested to ensure that it is gentle and effective.
Fur Oil works to prevent ingrown hairs and soften pubic hair. It is residue-free, absorbs quickly, and has a light citrus scent that disappears within minutes.
To use Fur Oil, apply a few generous drops of the oil onto the skin and hair after showering while the skin is still damp.
It can be used as a daily regimen for softer skin and hair, and fewer ingrowns over time. Fur Oil is suitable for all skin and hair types, whether you choose to remove your body hair or not.
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 were 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.
What Was The Outcome Of The Fur Oil Pitch On Shark Tank?
Laura Schubert and Lillian Tung appeared on Shark Tank in season 11, episode 13, seeking an investment of at least $500,000 for 2.5% equity in their company, Fur Oil.
The co-founders pitched their business idea to the Sharks, explaining that they sell natural skin and hair care for hair down there.
The Sharks were impressed with their sales of $5 million in the past year, but they did not like the valuation. Despite the valuation, some Sharks were still interested in making a deal.
In the end, Lori Greiner made an offer of $500,000 for 8% equity in the company. However, the deal with Lori never closed.
After their appearance on Shark Tank, Fur saw their sales jump, and they managed to get their product on the shelves at Goop, Revolve, Neiman Marcus, Credo, Free People, and Urban Outfitters. As of 2023, their annual sales have dropped to a steady $1 million.
How Has Fur Oil Performed Since Appearing On Shark Tank?
Fur Oil is a hair moisturizer formulated with tea tree, jojoba, grapeseed, and clary sage seed oil that helps retain the natural state of the body’s intimate areas.
The product was featured on Shark Tank in Season 11 Episode 13, where Laura Schubert and Lillian Tung sought $500,000 for 2.5% equity.
Lori Greiner offered $500,000 for 15% equity, but the entrepreneurs accepted an offer from Greiner and Mark Cuban for $500,000 for 8% equity.
After the Shark Tank episode aired, Fur Oil sales increased, which is typical of the “Shark Tank effect” noticed by most products featured on the show.
Fur Oil has expanded its product line to include creams, scrubs, and wipes. The product has a 4.4 out of 5-star rating with over 400 reviews on Google.
Fur Oil is available for purchase on Amazon and its own website. The original oil costs $26 for a 14 ml bottle.
In conclusion, Fur Oil has performed well since appearing on Shark Tank. The product has expanded its product line, received positive reviews, and increased sales after the episode aired.
How Long Does It Take To See Results From Using Fur Oil?
The time it takes to see results from using Fur Oil varies depending on the individual and how often they use the product.
According to a review on womenshealthmag.com, the reviewer used Fur Oil every day for 10 days and noticed a difference in the softness of her pubic hair and skin.
Another reviewer on reviewed.usatoday.com used Fur Oil for a month and noticed that her hair was shinier, straighter, and less brittle than usual. However, she did not notice any significant changes in hair growth or fewer ingrown hairs.
Fur Oil’s website recommends using the product daily for softer skin and hair and fewer ingrowns over time.
The website also states that the 75 ml bottle of Fur Oil lasts approximately 6 months when used daily.
It is important to note that results may vary depending on the individual’s hair and skin type, as well as their hair removal method.
Some reviewers have reported that Fur Oil has helped with ingrown hairs, while others have not noticed a significant difference.
Overall, it seems that Fur Oil can provide benefits such as softer hair and skin, but it may take some time to see noticeable results.
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 ingrown 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.