Liquid Money Shark Tank Net Worth 2023
Patrick McCarthy entered Shark Tank season 3 episode 3 in search of $100,000 in exchange for a 5% stake in his firm, which implies a valuation of $2 million.
Interestingly enough, the company has grown substantially since then and the current valuation is evidently higher. As of October 2023, his company has remained successful as it is still operational with an annual revenue of $4 million.
Not only does he sell cologne but also works as a motivational speaker for businesses, further highlighting his success story since entering the Shark Tank show.
What is Liquid Money?
Liquid Money is a fragrance designed for both men and women that uses the scent of money to promote productivity and drive success.
The creator, McCarthy, incorporates genuine strips of real money acquired from the Treasury Department into His and Hers Money fragrances.
The scent of freshly minted money is achieved by including chemicals found in the legal tender in each bottle. Additionally, the packaging for Liquid Money is made entirely from shredded dollar bills to further enhance the authenticity of the fragrance.
Who is the Founder of Liquid Money?
Patrick McCarthy, who has 20 years of experience in software sales and was formerly a Vice President at Microsoft, is the founder of Liquid Money.
He has worked for various companies, including SAP America, BroadVision, and Autodesk, as reflected in his CV. Before embarking on his current venture, Liquid Money, McCarthy had been a motivating and inspiring leader for his team for several years.
McCarthy was inspired to create Liquid Money after learning about a Japanese study that found that the scent of greenery can improve performance. He discovered that when the fragrance of money was released into the air vents of a factory, the workers worked harder.
This led him to trademark Liquid Money and seek advice from Larry “the Nose” Murrison, a fragrance industry specialist who developed Michael Jordan Cologne. T
ogether, they created colognes and perfumes infused with the fragrances of cotton, silk, and linen, all of which were historically used to earn money. The Money and Her Money colognes are packaged in genuine shredded banknotes.
What Happened to Liquid Money at the Shark Tank Pitch?
Patrick appeared on the third episode of season 3 of Shark Tank seeking a $100,000 investment in exchange for a 5% stake in his company, implying a $2 million valuation. He discussed his product, Liquid Money, and how it’s available in two variants: His Money and Her Money, which can be used by both men and women.
Despite earning $52,000 annually, Patrick has limited distribution, but many banks have shown interest in offering Liquid Money to new clients as a gift or incentive. He invested $50,000 of his own money to establish the product.
During the pitch, Mr. Wonderful expressed concerns about the cost of acquiring shelf space, while Daymond believed that substantial advertising spend would be required to launch the product. Mark left the deal, stating that the valuation was too high, while Kevin O’Leary, who is emotionally invested in money, was absent.
Barbara didn’t like the scent and declined to invest, while Robert Herjavec said that Liquid Money is not a perfume but rather a licensing product, and he chose not to invest.
Finally, Daymond offered $100,000 for 80% of the business, intending to license the name. Patrick expressed his belief that 80% was too high, given the high demand for Liquid
What Happened to Liquid Money after the Shark Tank Pitch?
Patrick McCarthy gained substantial publicity after his appearance on Shark Tank, which led to his company receiving widespread media attention in the months following the initial broadcast.
The fragrance was given the title of “official scent” of the Mrs. America Pageant and was designated as Las Vegas’s official fragrance. It has received endorsements from Mrs. Kentucky and Mrs. Texas, and has become popular among athletes, celebrities, and money managers.
Liquid Money is available online and in over 200 retail locations across the country. In a follow-up story on episode 416, which aired just over a year after the first presentation, Liquid Money was featured.
Patrick McCarthy’s success story is just one of many to come out of Shark Tank. As of July 2021, the company is still in operation and generates $4 million in annual sales. In addition to selling fragrance, McCarthy works as a business motivational speaker.
What is the Net Worth of Liquid Money?
Patrick entered Shark Tank season 3 episode 3 in search of $100,000 in exchange for a 5% stake in his firm. This suggests a valuation of $2 million.
The current valuation is evidently higher since the company has grown.
Who are the Competitors of Liquid Money?
There are no competitors identified for Liquid Money.
Liquid Money Shark Tank Episode Summary
|Shark Tank Episode||Shark Tank Season 3 Episode 3|
|Founder & Entrepreneur||Patrick McCarthy|
|Amount Asked For||$100,000 for a 5% stake in the business|
|Deal: Accepted Offer||$100,000 in exchange for 80% equity|
|The Shark Investor||Daymond John|
|Business Net Worth||$2 million company valuation|
|Business Status||The business is still in business|
Liquid Money Shark Tank Updates
Liquid Money is a perfume and cologne collection with the smell of newly printed money. The founder, Pat McCarthy, appeared on Shark Tank in Season 3 Episode 3, seeking $125,000 for 5% of his company. Before appearing on Shark Tank, Liquid Money had only made $52,000 in sales.
However, the Shark Tank Effect caused a shift in sales statistics. The valuation of Liquid Money was $2.5 million when it appeared on Shark Tank, and its net worth is now $3 million as of 2022.
Liquid Money is still in business and has annual revenue of $4 million as of October 2023. In addition to selling cologne, McCarthy also works as a business motivational speaker.
The perfume and cologne collection comes packaged as His Money and Her Money, and the packing material is real shredded currency. The fragrance line emits the scent of the most powerful aphrodisiac in the world: money.
McCarthy got the inspiration for Liquid Money from the smell of new, crisp bills from his ATM machine. The cologne and perfume are infused with the scents of cotton, silk, and linen – the same materials used to make real money.
McCarthy trademarked the name and sought the guidance of Larry “the Nose” Murrison, a fragrance industry expert and the creator of Michael Jordan Cologne.
Liquid Money FAQS
What Is Liquid Money, Founder, and How Does Liquid Money Work?
Liquid Money is not a term that appears in the provided search results. However, there are two related terms that may be relevant: liquid funds and liquid assets.
Liquid funds are a category of mutual fund schemes that invest in debt and money market securities with a maturity of up to 91 days only.
These funds are designed to provide investors with a high degree of liquidity and safety, as they invest in short-term securities that are less volatile than longer-term bonds and equities.
Liquid funds are a popular investment option for individuals and businesses that need to park their surplus funds for a short period of time.
On the other hand, Investopedia defines liquid assets as assets that can easily be converted into cash in a short amount of time. Examples of liquid assets include cash, money market instruments, and marketable securities.
Both individuals and businesses can be concerned with tracking liquid assets as a portion of their net worth. For the purposes of financial accounting, a company’s liquid assets are reported on its balance sheet as current assets.
There is no information in the provided search results about a founder of Liquid Money or how it works. It is possible that Liquid Money is a term used by a specific company or organization, but without further context or information, it is not possible to provide a more detailed answer.
How Much Was Liquid Money Seeking In The Shark Tank?
Patrick McCarthy, the founder of Liquid Money, entered the Shark Tank in Season 3 Episode 3 seeking $100,000 in exchange for a 5% stake in his company. This implies a valuation of $2 million. He was seeking $125,000 for 5% of his business.
Did Liquid Money Get The Deal?
Liquid Money did not get a deal on Shark Tank. In episode 301 of season 3, Patrick McCarthy pitched his his and her fragrance line that emits the scent of money to the Sharks, but he did not receive an investment.
However, McCarthy returned to the show in episode 416 for a success story update.
Despite not getting a deal on the show, Liquid Money’s net worth has increased since its appearance on Shark Tank.
As of 2022, the net worth of Liquid Money is $3 million, with a valuation of $2.5 million when it appeared on the show. Before appearing on Shark Tank, Liquid Money had only made $52,000 in sales, but the “Shark Tank Effect” is expected to boost sales.
In a more recent update from 2023, it was mentioned that McCarthy has another business called Ambient Sensing, which is an established $100 million a year business and growing. Mark Cuban seemed more interested in that business than Liquid Money.
Is Liquid Money Still In Business?
Liquid Money is still in business as of April 19, 2023. The company was founded by Patrick McCarthy, a former VP of Sales at Microsoft, who pitched his company to the Sharks in episode 301 of Shark Tank.
Liquid Money is a fragrance line that emits the scent of money, inspired by a Japanese study that found the smell of money made workers more efficient. The cologne and perfume are infused with the scents of cotton, silk, and linen, the same materials used to make real money.
The cologne comes packaged as His Money and Her Money, with the packing material being real shredded currency.
Liquid Money has been featured in an update segment in episode 416 of Shark Tank, and as of October 2023, the company has an annual revenue of $4 million.
The price of Liquid Money’s 1.7 fl oz bottle of His or Hers Money was $42.50 in 2023. McCarthy also works as a business motivational speaker.
Where is Liquid Money located?
Liquid Money is based in Illinois.
What is the website address of Liquid Money?
Their website is www.liquidmoney.com
What is annual sales?
As of July 2021, the firm generates $4 million in yearly sales.
Where can they buy Liquid Money?
They can buy then on the company’s website.
Is Liquid Money real?
Yes, each scent is presented in a box made entirely of genuine shredded United States dollars.
Do they accept shipments to P.O. boxes?
No, their shipping partners do not deliver to post office boxes. If they use a P.O. Box to place an order, it will be denied once the procedure reaches the shipment stage.
They may be held accountable for any processing expenses incurred.
Has their package been mailed yet?
Fedex picks up all of their deliveries Monday through Friday at 8 p.m. central time.
Allow at least one business day for Fedex to update their tracking information if they already have it.
What is the net worth of Pat McCarthy?
Pat McCarthy’s net worth is unavailable.