Mad Optimist Soap Shark Tank Net Worth 2023
It is not possible to accurately answer the question regarding Mad Optimist’s net worth in 2023 as the company has not yet released any information about its financials.
However, based on the search results, it appears that Mad Optimist was founded in 2017 and gained attention after appearing on Shark Tank in 2020.
The founders accepted a deal from Mark Cuban for $60,000 for 20% equity, which halved the company’s valuation to $300,000.
It is estimated that Mad Optimist could have earned up to $2 million in 2020, but the actual revenue and net worth remain unknown due to the positive publicity of Shark Tank being tempered by the COVID-19 pandemic.
What is Mad Optimist Soap? Who are the Founders of Mad Optimist Soap?
The Mad Optimist is a company that specializes in producing vegan soap and body care products in Bloomington, Indiana, where Indiana University is located. They are committed to sustainability and use all-natural, plant-based materials in their products.
One of their unique selling points is the ability for customers to customize their products, including size, shape, and scent, through their “build your body care” feature on their website. This feature offers a range of prices and inclusions, from $7 to $14 per product.
The company was founded in 2012 by Mohammed A. Mahdi, Mohammed M. Mahdi, and Anthony Duncan, who were roommates at Indiana University.
As Muslims and vegans, they were opposed to using animal fats in soap production and decided to make their own using oils as the primary ingredient.
They teamed up with a rebranding agency called LPK and named their company The Mad Optimist to reflect their commitment to people and the environment.
The company has been successful, generating over $800,000 in sales over seven years through online sales and farmers’ markets.
The founders initially survived off of family contributions to avoid taking a salary, but have since expanded their operations to ensure long-term viability.
Mad Optimist Soap Shark Tank Pitch
On Shark Tank Season 11 Episode 24, Mohammed, Mohammed, and Anthony pitched their firm, seeking $60,000 in exchange for a 10% stake, implying a $600,000 valuation. The trio shared their backstory and their approach to custom pricing and manufacturing each bar of soap.
However, Kevin and Robert were not impressed, with Kevin even calling the business model the “third hell.” Sales were also lackluster, with only $97,000 in revenue last year, including $21,000 from bespoke creations.
Although the entrepreneurs exuded positive energy, guest Shark Daniel Lubetzky felt they needed to focus more on product visibility and less on their objective.
Lori Greiner and Robert Herjavec agreed that good intentions alone were insufficient to succeed in the marketplace.
Only Mark was intrigued and offered $60,000 for a 20% stake, which the trio readily accepted. However, the deal was never finalized due to the Shia Muslim holiday of Ashura coinciding with the episode’s air date.
Instead, the entrepreneurs donated all sales revenues from 8 p.m. to 3 a.m. Eastern time, amounting to $80,192.39, to organizations that support marginalized populations such as the homeless, refugees, and LGBT children.
Despite this setback, the trio’s business continues to thrive, with annual revenue of $1 million as of November 2021.
Mad Optimist Soap Net Worth
The founders were seeking $60,000 for a 10% stake thus valuing at $600,000 but they accepted an offer from Mark Cuban of $60,000 for a 20% stake which brings the valuation to $300,000.
Mad Optimist Soap Competitors
The Mad Optimist Soap competes with the following; Function of Beauty, Bare Anatomy, and Adorn Cosmetics.
Mad Optimist Soap Shark Tank Updates
The Mad Optimist is a customizable soap and skincare company founded by Mohammed M. Mahdi, Mohammed A. Mahdi, and Anthony Duncan. The company was originally called The Soapy Soap Company and was founded in Cincinnati.
The Mad Optimist appeared on Shark Tank in season 11, episode 22, seeking $60,000 for 10% equity. Mark Cuban made an offer of $60,000 for 20% equity, which the founders accepted.
After the Shark Tank episode aired, The Mad Optimist earned $80,192.39 in sales in just one night. As of December 2022, the company is still in business and has annual revenue of $1 million. The Mad Optimist sells its products on its website, Amazon, and has an official Amazon store.
The Mad Optimist’s soap is customizable and vegan, cruelty-free, non-GMO, and gluten-free. Customers can choose the scent, add-ins, and packaging for their soap. The company has expanded to include a wide range of personal care supplies, such as balms, sprays, and bath materials.
The Mad Optimist is committed to putting people first and has donated sales proceeds to worthy organizations that fight societal oppression. The company’s founders are vegans and Muslims who are opposed to using animal-based products in their soap.
The Mad Optimist is still in business and continues to offer customizable, vegan, and cruelty-free soap and skin care products.
Mad Optimist Soap Shark Tank 2023
| TOPIC | DETAILS |
| Company | Mad Optimist produces vegan soap and body care products in Bloomington, Indiana, is committed to sustainability, and uses all-natural, plant-based materials in their products. It was founded in 2012 by Mohammed A. Mahdi, Mohammed M. Mahdi, and Anthony Duncan. |
| Shark Tank Pitch | On Shark Tank Season 11 Episode 24, the founders pitched their firm, seeking $60,000 in exchange for a 10% stake, implying a $600,000 valuation. Only Mark Cuban made an offer of $60,000 for a 20% stake, which the trio readily accepted. The deal was not finalized due to the Shia Muslim holiday of Ashura coinciding with the episode’s air date. |
| Net Worth | Mad Optimist’s net worth in 2023 remains unknown, but it is estimated that the company could have earned up to $2 million in 2020. They were seeking $60,000 for a 10% stake, thus valuing at $600,000, but they accepted an offer from Mark Cuban of $60,000 for a 20% stake, which brings the valuation to $300,000. |
| Competitors | Mad Optimist Soap competes with Function of Beauty, Bare Anatomy, and Adorn Cosmetics. |
| Updates | As of December 2022, Mad Optimist is still in business and has an annual revenue of $1 million. They have expanded their range of personal care supplies, such as balms, sprays, and bath materials. The company’s soap is customizable, vegan, cruelty-free, non-GMO, and gluten-free. |
What Happened To Mad Optimist Soap After Shark Tank?
The Mad Optimist is a custom soap and skincare company that appeared on Shark Tank seeking $60,000 for 10% equity in the company. The founders, Mohammed M. Mahdi, Mohammed A.
Mahdi, and Anthony Duncan, explained their back story and how they custom price and make each bar of soap. Despite Kevin and Robert’s lack of interest, Mark Cuban made a deal with them. However, the deal never closed.
After the Shark Tank episode aired, The Mad Optimist earned $80,192.39 in sales in just one night. They donated all sales proceeds from 8 PM to 3 AM Eastern time to worthy organizations that fight societal oppression.
As of December 2022, The Mad Optimist is still in business and has annual revenue of $1 million. They expanded from a soap company to include a wide range of personal care supplies, such as balms, sprays, and bath materials.
The Mad Optimist uses all-natural ingredients for their products and does not set a fixed price on their custom soap. They are based in Bloomington, Indiana, and owned and operated by three best friends and soap smiths.
The Mad Optimist has over 4,000 followers on Instagram and a rating of 4.7 out of 5 on Facebook.
How Did The Mad Optimist Founders Use The Proceeds From Their Sales After Shark Tank”
The founders of The Mad Optimist donated all sales proceeds from 8 PM to 3 AM Eastern time to worthy organizations that fight societal oppression, amounting to $80,192.39. They also donated all sales proceeds from their Shark Tank episode debut to charity.
However, it is unclear how they used the proceeds from their sales after the show. The Mad Optimist is still operating as of December 2022 and has an annual revenue of $1 million.
What Is The Mad Optimist’s Soap Current Annual Revenue?
The Mad Optimist is a company that sells customizable, all-natural body care products such as soap, lip balm, shaving cream, perfumes, and bath soaks.
The company was founded in 2012 and received an investment of $60,000 from Mark Cuban for a 20% stake in the company in 2019 after their appearance on Shark Tank. The current annual revenue of the company is around $1 million.
The Mad Optimists experienced a surge in sales after their appearance on Shark Tank, earning $80,192.39 in just one night. However, it is unclear how much revenue they earned in 2020 or 2021. The company sells its products on its website and on Amazon.
While The Mad Optimist may need to invest more in social media marketing to increase sales, their commitment to using all-natural ingredients and being vegan, cruelty-free, non-GMO, and gluten-free has helped them stand out in the crowded body care market.
What New Products Has The Mad Optimist Released Since Appearing On Shark Tank?
The Mad Optimist is a body care company that specializes in all-natural personal care products, such as soap, body soaks, and lip balm.
The company is based in Bloomington, Indiana, and was founded and is currently operated by three individuals. In 2019, The Mad Optimist appeared on Shark Tank and received a $60,000 investment from Mark Cuban in exchange for 10% equity in the company.
Since then, the company has expanded its product line to include sprays and bath materials. All of their products are vegan, non-GMO, halal, gluten-free, and cruelty-free.
The Mad Optimist has continued to grow its business, generating $80,192.39 in sales in just one night after their Shark Tank episode aired, and has made $1 million in revenue as of 2022.
Their products are available for purchase on Amazon, and they have a strong social media presence with over 4,000 followers on Instagram and a 4.7 out of 5 rating on Facebook with 3.6K likes.
What Organizations Did Mad Optimist Soap Donate Sales Proceeds To?
Mad Optimist Soap is a body care company that was founded by Anthony Duncan, Mohammed A. Mahdi, and Mohammed M. Mahdi in 2012.
The company offers customizable body care products made from all-natural plant-based ingredients, and their products are vegan, cruelty-free, halal, and non-GMO.
Mad Optimist Soap has donated sales proceeds to several organizations, including the National Coalition for the Homeless, Masjid al-Rabia (an LGBT youth group), and the International Rescue Committee (a refugee support organization) in 2019.
They also donated a significant amount of money to worthy organizations that fight societal oppression in 2020.
During their appearance on Shark Tank, they landed an investment from Indiana University alum billionaire Mark Cuban. They accepted Cuban’s offer of $60k for 20 percent and donated 100% of sales from their Shark Tank episode debut to charity.
Mad Optimist Soap has over 4,000 followers on Instagram, and its products are available for purchase on Amazon.com. They do not set a fixed price on the custom soap that they are selling.
where can I purchase Mad Optimist products?
Mad Optimist is a personal care company based in Bloomington, Indiana, owned and run by three close friends who are also soap smiths. The company specializes in customizable body care products that are made from all-natural plant-based ingredients, vegan, cruelty-free, halal, and non-GMO.
Mad Optimist’s products, such as peppermint lemongrass soap, lavender lip balm, and rosemary peppermint shampoo bar, are available for purchase on Amazon.com.
They have a substantial social media following with over 4,000 Instagram followers and a 4.7 rating out of 5 on Facebook, with 3,600 likes. Mad Optimist was also featured on the entrepreneurial show Shark Tank.
what is the price range for Mad Optimist products?
The Mad Optimist is a company that offers a sliding price scale for its products, allowing customers who can afford to pay more to offset costs for those who can afford to pay less.
The price of a bar of soap varies from $6 to $16, with an average selling price of $8.50. The lowest price currently available is $6, while the highest is $16 (with a default price of $10).
The Mad Optimist’s products are customizable based on a customer’s skin type, scent, exfoliant, and packaging preferences. The company’s soap is made of oils, not animal fat, and is vegan, cruelty-free, non-GMO, and gluten-free.
The Mad Optimist sells its products on its website and on Amazon. The company generates approximately $1 million in revenue annually.
What is Mad Optimist Soap?
Mad Optimist Soap is a vegan and cruelty-free soap mixed with essential oils to create the most effective and best-smelling soap.
Who is the founder of Mad Optimist Soap?
The Mad Optimist Soap was founded by Mohammed A. Mahdi, Mohammed M. Mahdi, and Anthony Duncan.
How much were they asking in the Shark Tank?
They were asking $60,000 for 10% equity.
Did they get the deal?
They did get a deal with Mark Cuban which was for $60,000 for 20% equity but they never closed.
Is Mad Optimist Soap still in business?
As of November 2021, they have an annual revenue of $1 million.
What happened to Mad Optimist after Shark Tank?
The entire situation blew out on social media following their really memorable episode.
The Mad Optimist creators reported that they collected a stunning $80,192.39 in sales in only one night following the Shark Tank episode’s airing.
All proceeds will be donated to a charitable organization.
What are the strengths of Mad Optimist Soap?
Their strength is their product, which is vegan and cruelty-free.
What are the weaknesses of Mad Optimist Soap?
Their weakness might be they do not have a lot of sales, therefore they might need to invest a lot more in social media marketing.
Why is Mad Optimist Soap on Shark Tank?
The Mad Optimist founders were seeking $60,000 for 10% equity but they accepted an offer from Mark Cuban of $60,000 for 20% equity.
How is Mad Optimist Soap different from Bar Soap?
Their products are vegan, cruelty-free, and essential oils.
How much does Mad Optimist Soap cost?
Customers choose to pay between $6 and $16.
How much is Mad Optimist worth?
The entrepreneurs approached Shark Tank with a $600,000 value for their business. However, when the founders accepted Mark Cuban’s last offer of 20% for $60,000, the worth of Mad Optimist was effectively reduced to $300,000.
Are they selling on Amazon?
The Mad Optimist is selling on Amazon.
Where is Mad Optimist Soap located?
The Mad Optimist is based in Bloomington, Indiana, and owned and operated by three best friends.
Is the mad optimist profitable?
Thus was born the Mad Optimist, a moniker derived from his dedication to putting people and the environment ahead of profit.
They generated roughly $800,000 in sales over seven years by concentrating their sales exclusively online and at farmers’ markets.
When was Mad Optimist Soap started?
Mad optimist soap.com was launched in August 2012 by Mohammed A. Mahdi, Mohammed M. Mahdi, and Anthony Duncan.
What other products is Mad Optimist Soap producing?
They make soap, lip balm, shaving creams, scents, and bath soaks.
