FurZapper Shark Tank Net Worth 2023 | FurZapper Shark Tank Update
What is FurZapper Shark Tank Net Worth in 2023?
FurZapper is a pet hair remover that was featured on Shark Tank Season 12 Episode 20. The founders, Harry Levin and Michael Sweigart, asked the Sharks for $600,000 for 10% equity, valuing the company at $6 million. They made a deal with Lori Greiner for $600,000 for 15% equity. After the shark tank pitch, FurZapper’s net worth was $4 million, down from its pre-Shark Tank valuation of $6 million.
FurZapper is a fur remover that can be placed in the washer and dryer along with clothes to remove pet hair. It helps especially when people are allergic to pet fur or in danger.
FurZapper has a double pack of Furzapper pet hair removal devices ($14.99), a Single pack of Furzapper for hair removal ($10.99), a pet grooming glove ($12.99), a Furzapper T-shirt ($25), Furzapper Hat ($20) and portable lint sheet for ($8.97).
As of 2022, they are planning to expand more along with the addition of a few more products. The net worth of FurZapper as of March 2023 is unavailable.
What is FurZapper? Who is the Founder of Furzapper?
The FurZapper is a safe, re-usable, and effective pet hair remover that goes into your washer/dryer and gently removes pet hair from your clothing.
Michael Sweigart, the founder of FurZapper, came up with the idea for a pet hair remover by chance while doing his family’s laundry. He was frustrated with having to pull pet hair out of previously cleaned and dried clothes and wondered why washing machines couldn’t clean the hair and lint on their own.
One day, he discovered that a silicone zombie mask had trapped animal hair, which was easily cleaned away. This led him to throw the mask into his next laundry load and it came out hair-free, inspiring him to develop FurZapper.
The patent-pending tool is designed to remove pet hair from clothes safely and effectively in the washer/dryer. Although FurZapper achieved great success, Michael and his partner sought additional funding to bring manufacturing in-house and create jobs in the US.
They appeared on Shark Tank and secured a $600,000 contract for 15% equity from Lori Greiner. Michael has a background in SEO and web marketing, as well as experience in sales and business development.
FurZapper After the Shark Tank
Harry Levin and Michael Sweigart appeared on Shark Tank Season 12 Episode 20, seeking $600,000 for a 10% stake in FurZapper.
Initially, Lori Greiner offered $600,000 for a 19.9% stake in the company, but Mark Cuban countered with an offer of $600,000 for a 15% stake. To seal the deal, Lori matched Mark’s offer, and the duo accepted Lori’s offer on the condition that she would provide an additional line of credit in the future if needed.
After the episode aired in March 2021, FurZapper received a lot of positive feedback, as evidenced by its continued 5-star rating on Amazon, where it has amassed over 10,000 customer reviews.
The company’s net worth was initially valued at $6 million, but after accepting Lori’s offer of $600,000 for a 15% stake, the net worth of FurZapper was reduced to $4 million.
FurZapper Net Worth
On Shark Tank Season 12 Episode 20, Harry Levin and Michael Sweigart entered the Shark Tank looking for $600,000 for 10% of FurZapper. That was a $6 million company valuation.
They later accepted Lori Greiner’s offer of $600,000 for 15% of FurZapper, reducing the company’s net worth to $4 million.
FurZapper Summary
FurZapper is a one-of-a-kind and surprisingly simple solution for removing pet hair from clothing. A must-have item for pet owners, it piqued our curiosity in learning more about the brand.
It removes pet hair from clothing as it is washed and dried.
Harry Levin and Michael Sweigar are business owners of an eco-friendly solution that aids in the removal of pet hair from clothing.
They went to the shark tank seeking a $600,000 investment for 10% equity.
As a result, they secured $600,000 for 15% equity and an additional line of credit from Lori Greiner.
FurZapper FAQs
What Exactly Is Furper?
FurZapper is a pet hair removal product for laundry. According to the company website, FurZapper is a patent-pending tool that was intended to provide pet owners with a solution to remove pet hair and keep it off of their clothes.
What prompted you to launch Fur Zapper?
The founder acknowledges that FurZapper was a lucky accident. He said he came up with the concept for FurZapper because he was fed up with pet hair being stuck in his clothing even after washing and drying them
What methods did FurZapper use to find buyers?
FurZapper’s first retailer was Walmart.
How Does FurZapper Operate?
You put the product in the washing machine/dryer with your laundry, and it absorbs the fur.
What are the numbers for sales volume?
According to the entreprenuers, FurZapper generated $4 million in sales in 2020 despite the country facing Covid-19.
Who are the FurZapper founders?
FurZapper is the brainchild of Michael Sweigart and Harry Levin. FurZapper began with Michael, who discovered by accident that silicone works well for eliminating pet hair from laundry during washing.
What exactly was the deal?
The two entrepreneurs behind the pet product, Harry Levin and Michael Sweigar of Long Beach Island, New Jersey, entered the Tank looking for a $600,000 investment in exchange for 10% equity.
The two managed to get away with a $600,000 deal with Lori Greiner in exchange for 15% equity. Lori Greiner will also offered an extra line of credit if needed.
Which episode of the shark tank featured FurZapper?
In Shark Tank episode 1215, Michael Sweigart and Harry “Hairy” Levin pitched FurZapper, a product that removes dog hair from garments in the washing and dryer.
How far is the deal with Lori?
There is no proof that this transaction with Lori was completed as of November 2021, the date of the first re-run of this episode.
What’s the best way to remove pet hair off a zombie mask?
Sweigart perfected a sticky silicone mix and paw-shaped size that would work in both washers and dryers with the FurZapper.
What steps did they do to get the product listed on Amazon?
Sales to friends and family, word of mouth, and Facebook advertisements all assisted the duo in getting their product on Amazon in 2018, “and then things really skyrocketed,” Sweigart said.
What are the numbers?
Despite the epidemic, they did $640,000 in first sales year in 2018, then over $2 million in 2019, and $4 million in 2020.
What was their first large transaction?
Michael and Harry’s first big deal was with Walmart.
What is the dimensions of FurZapper?
It is a 4 x 4 x 0.75 inch product that weighs 5 ounces.
How do you use FurZapper?
The FurZapper is a safe, reusable, and efficient pet hair remover that goes into your washing machine or dryer and gently removes pet hair from your clothing.
Simply add the FurZapper in your clothes washer during standard washing cycles, and it will gently adhere to and separate pet fur or pet hair from your clothing.
