Laid Brand Shark Tank Net Worth 2023
Adam and Derek appeared on Shark Tank season 8 episode 24 in search of $30,000 in exchange for a 30% stake in their firm.
This demonstrates that the firm was valued at $100,000, though the current net value is unavailable as they are no longer in business.
It is possible to assume that the firm was unsuccessful or could not make a profit after getting investment money from the show.
What is Laid Brand?
LAID Brand is a professional hair care brand infused with pheromones. Utilizing it will not only have the desired impact of attracting someone special, but will also increase their confidence.
Leaving you feeling fantastic and attracting the attention of others.
Not only does it include pheromones (human chemical fragrances), but it will also leave their hair smelling amazing, thanks to ingredients that boost shine, mend damaged hair, and hydrate and protect it as well.
Who founded Laid Brand?
Adam Rauch, David Hensley, and Derek Shaw are the co-founders of The Laid Brand. At the time of the company’s founding, Adam had spent 13 years working in sales and marketing for female cosmetic goods. David, on the other hand, was a professional celebrity stylist working in hair salons, and Derek had previously worked as a business strategist.
The company was established in early 2010 when David recognized a gap in the market for a new hair care product. He began developing a line of products that would not only make people look good but also make them feel good. The products were meant to exude self-assuredness and artistic expression.
It was during this period that David met Adam, who was a client. Adam, based on his experience working with well-known beauty care businesses, saw potential in the product line and decided to join forces with David.
They tested a few prototype items with different pheromones and generated $27,000.00 in sales from both salon and internet sales. At that time, Adam invited Derek, a fellow university graduate, to join the company. Derek’s expertise in business strategy helped the company in investment and output decisions.
The product line consisted of three goods, each with a humorous name – Fill Me Up, a volumizing spray; Rock in’, a hair oil; and Straight 2 Kinky, a detangler. Each bottle was sold for $24.99.
However, as of December 2018, the company ceased operations. All employees either moved on to other initiatives or continued in their existing employment.
What happen to Laid Brand at the Shark Tank Pitch?
Adam and Derek, along with a third team member, pitched their business on an episode of Shark Tank season 8. They were seeking a $30,000 investment in exchange for a 30% stake in their hair-care business, which was valued at $100,000.
During their pitch, a woman entered the room and the third team member immediately applied their Laid Brand product to her hair, offering samples to the Sharks. The Sharks engaged in some light-hearted conversation about pheromones before discussing the business in more detail.
Derek founded the business in 2010 and hired Adam because of his experience in hair salons. They created several pilot products and generated $27,000 in six months from a single salon. However, they had not made any sales in the last three months because they needed to reformulate their product before approaching salons.
The Sharks asked about market research with women, and the team claimed that there was a pheromonal community interested in their products. Robert disagreed, stating that incorporating pheromones into products was not novel or proprietary.
Lori questioned the pricing of the product, and Derek estimated that the cost of producing a bottle or the full product blend was $2.50, while the price for consumers was $24.99.
Kevin O’Leary informed them that retailers such as Sephora and department stores do not accept small businesses and he decided to opt-out of the deal. Lori Greiner tested the product on Kevin but found no effect and decided to exit.
Mark Cuban believed that the team could scrape out a living but felt that $30,000 was insufficient for their needs and he too withdrew. Barbara Corcoran expressed her doubts about the product and exited the deal.
In the end, Barbara was the final Shark to pull out of the agreement, leaving Derek and Adam without the funding they sought for their Laid Brand hair-care business.
Laid Brand after the Shark Tank Pitch
After their Shark Tank pitch, the Laid Brand had a promising future. The founders hoped to revolutionize men’s haircare and had a high degree of confidence in their product’s potential. Unfortunately, despite the positive response from sharks and viewers alike, the brand eventually dissolved.
In December 2018, the men decided to close down their firm due to financial constraints and disappointing sales figures.
Laid Brand Net Worth
Adam and Derek appear on Shark Tank season 8 episode 24 in search of $30,000 in exchange for a 30% stake in their firm. This illustrates a $100,000 valuation. The current net is unavailable since they are no longer in business.
Laid Brand Competitor
There is no competitor identified for Laid Brand.
Laid Brand FAQS
What is Laid Brand?
Laid Brand is a professional hair care brand infused with pheromones.
Utilizing it will not only have the desired impact of attracting someone special, but will also increase their confidence. Leaving them feeling fantastic and attracting the attention of others.
Who were the founders of Laid Brand?
Adam Rauch, David Hensley, and Derek Shaw are co-founders. Adam had worked in the sales and marketing of female cosmetic goods for 13 years at the time.
How much were they seeking in the Shark Tank?
Derek and Adam were seeking $30,000 in exchange for a 30% stake in their firm.
Did they get a deal from the Sharks?
The Sharks were uninterested, and Laid Brand exited without a contract.
When was Laid Brand started?
Laid Brand was established in 2012
Is Laid Brand still in business?
Laid Brand is no longer in business. They have ceased operations in December 2018.
Were Laid Brand a Shark Tank Scam?
Laid Brand is not a scam as it is no longer in operation.
Where can they buy Laid Brand products?
The product is no longer available for purchase.
Were Laid Brand sulfate-free?
The goods were sulfate-free, but they’re filled with pheromones.
Were Laid Brand paraben free?
Each product works for all different hair types and is free of parabens.
Where can they find them?
The Laid Brand has been shut down and is no longer accessible.
Were Laid Brand cruelty-free?
The Laid Brand products were cruelty-free.
Where were Laid Brand located?
Laid Brand were located in Tampa, Florida.
What was the Laid Brand Facebook page?
The Laid Brand Facebook page is no longer accessible, as the business has been shut down.
What is the Laid Brand website?
The Laid Brand website is unavailable.
What Shark Tank episode featured Laid Brand?
They appeared in season 8 episode 24.
How much were they selling their products?
Laid Brand products were priced at $24.99
What is the net worth of Adam Rauch?
Adam Rauch’s net worth is unavailable.
What is the net worth of Derek Shaw?
Derek Shaw’s net worth is unavailable.