Mad Rabbit Shark Tank Update| Mad Rabbit after Shark Tank
What is Mad Rabbit?
Mad Rabbit is a company that deal and deliver tattoo aftercare solutions. The firm creates natural treatments that make tattoos appear healthy and renewed.
Mad Rabbit was created by Selom Agbitor and Oliver Zak. The couples were students at Miami University prior to developing this new tattoo aftercare solution.
They had already tried their hand at entrepreneurship by starting a swimwear firm, which they eventually sold.
Oliver began working at EY-Parthenon after graduation, while Selom worked at Textron Aviation and Bell Flight. Mad Rabbit Company has now been taken over by the two.
Tattoos are trendy accessories that may be used to express devotion or respect for art.
After you have engraved the beautiful art on your skin, you must take care of the scar till it heals correctly.
Who is the founder of Mad Rabbit?
Selom and Oliver became friends on campus are the founders of Mad Rabbit. They decided to start a business together even though they didn’t know what business it would be until Oliver got a tattoo.
Both men were interested in starting a business, and when Oliver got his first tattoo, the tattoo artist surprised him by recommending petroleum jelly to help it heal. That was the source of Mad Rabbit’s motivation.
Oliver imagined a plant-based salve, and the two pals began experimenting with various recipes. They founded the firm in January 2019, only a few months before graduating.
Tattoo Balm was their first product. It’s 100% natural, with no chemical additives. The Tattoo Balm is made up of Shea butter, cocoa butter, beeswax, calendula, almond, lavender, cucumber, and Frankincense. Using it on a regular basis keeps your tattoos looking new and vibrant.
The two buddies decided to discover a product that targeted to this specific market. Armed with $600, they quickly acquired a collection of natural goods from Amazon, which they utilized to create their first product.
Despite still being in school, Mad Rabbit was able to sell over $400,000, demonstrating a market gap. Mad Rabbit likewise had tremendous sales in 2020, despite the fact that the globe was facing a pandemic and the pair was still not dedicated to the business.
What Happened to Mad Rabbit at Shark Tank pitch?
Oliver and Selom decided to present their firm to Shark Tank investors in episode 18 of Season 12 of Mad Rabbit on Shark Tank in order to help them scale their business.
Oliver and Selom are on Shark Tank in seeking for $500,000 for a 5% stake in their company, which is valued at $10 million.
The Sharks object vocally to the value. They present their tale and pitch. Lori is curious about how it makes things more colorful. Mark is curious if it can rejuvenate old tattoos.
They tell their backstories before getting into numbers. In one month, they make $300,000 in sales. In 2020, they made $1.7 million in sales.
Tattoo-related content is used in the marketing. The firm has over 5000 users to its subscription service. One tine costs $2.78, and it retails for $19.99.
According to Oliver, there are approximately a dozen rivals, but they are the only all-natural choice. The cost of acquiring a new customer is between $6 and $7.
Their “secret sauce” is the Instagram community they’ve developed (90,000 followers). They spent $80,000 on marketing last month to achieve $300,000 in sales.
They expect to sell $3 million this year after starting with $300 apiece. Kevin proposes $500,000 in loan at 9.75% in exchange for 5% ownership of the company.
Barbara likes the boys, but she’s not sure what she can do to assist them, so she goes out. Daymond says they’re killing it and he’s not sure he can offer value; he’s out.
Mark offers $500,000 in exchange for 12% of the company’s shares. They inquire as to whether Mark will collaborate with Lori. Mark says no, and they accept Mark’s offer and leave the pitch with a deal.
What Happened to Mad Rabbit after Shark Tank?
The deal with Mark did not close after the two fled the pitch after receiving the deal from Mark, and this firm does not exist on his website.
They were severely backlogged on orders in the immediate aftermath of the initial air date, resulting in some irate consumers, but they’ve now smoothed out the problems.
They are still in business with $3 million in yearly sales as of December 2021.
Competitors of Mad Rabbit
Mad Rabbit main competitors are; Tattoo Goo and Rock Star Tattoo Balm.
Net Worth of Mad Rabbit
The valuation of the company was $10 million during and after the pitch. Since then the company has been performing well in sales with annual revenue of $3 million in 2021. This justify that the company net worth has increased.
Mad Rabbit FAQs
What is Mad Rabbit?
Mad Rabbit is a company that deal and deliver tattoo aftercare solutions. The firm creates natural treatments that make tattoos appear healthy and renewed.
Who is the founder?
Mad Rabbit is owned and founded by Selom Agbitor and Oliver Zak. The couples were students at Miami University prior to developing this new tattoo aftercare solution. After getting their hands on numerous e-commerce businesses, they decided to create their own company together.
How much were asking on Shark Tank?
They were seeking for $500,000 for a 5% stake in their business, which was valued at $10 million.
Did they have the deal?
Yes, they have the deal from Mark.
How much was the deal?
Mark offered $500,000 to them in exchange for 12% of their company. But the deal was never completed with Mark.
Is Mad Rabbit still in business?
They were still in business with $3 million in annuals sales as of December 2021.
What is the episode was featured on Shark Tank?
Mad Rabbit Shark Tank Season 12 Episode 18 Recap
Is it possible to get a vegan Mad Rabbit tattoo?
Only 7 all-natural, vegan, and cruelty-free ingredients are used to soothe, protect, and hydrate. There are no harsh chemicals, parabens, or sulfates.
Whether you have delicate skin or a tattoo in a sensitive part of the body, Mad Rabbit is the way to go.
Is it OK to apply Mad Rabbit on a new tattoo?
For a more effective outcome, use Mad Rabbit Soothing Gel instead. 3. Do not use a towel to wash or scrub the tattoo – only use clean hands to wash the tattoo when it is healing. For the greatest effects, follow with Mad Rabbit Soothing Gel.
How frequently should Mad Rabbit be used?
Apply every day for optimal results, but observe effects with only one application. It works on both fresh and existing tattoos. Products are automatically sent according to their preferences.
How long does Mad Rabbit take to work?
When applied within two weeks of obtaining the tattoo, their Soothing Gel uses the natural power of vitamin C, sweet almond oil, and Aloe Vera (among others) to decrease scarring and tissue damage.
Is there SPF in Mad Rabbit?
Mad Rabbit SPF Protection is designed to protect their older tattoos from dangerous UV rays. Try Mad Rabbit Soothing Gel for fresh tattoo care. Our SPF Protection, like other Mad Rabbit products, is intended for use on people of all skin tones.
Where can I find Mad Rabbit?
Mad Rabbit is a tattoo aftercare firm headquartered in California that offers natural solutions for skin and tattoo upkeep. Mad Rabbit was founded in 2019 and is based in Los Angeles, California.
What is the best way to cure a tattoo?
Make sure the artist applies a thin coating of petroleum jelly and a bandage on the new tattoo. After 24 hours, remove the bandage.
Wash the tattoo gently with antibacterial soap and water, and then pat dry. Apply an antibacterial/Vaseline ointment twice a day, but do not cover with another bandage.
Is Mad Rabbit oily?
The product was fantastic; it revitalized a five-year-old tattoo, making it appear brand new. Mad rabbit absorbs quickly and readily without leaving a greasy film on the skin.
Is Mad Rabbit suitable for aftercare?
Ingredients for fresh tattoos that are natural and organic – Mad Rabbit is dedicated to tattoo aftercare using all-natural components that calm the skin, particularly in the weeks after the artwork.
Increase skin regeneration and health – Their special Soothing Gel works quickly to help restore ones skin’s health.
Is Mad Rabbit sunscreen water resistant?
5.0 stars out of 5 it works and remains in place in the water!
Is Mad Rabbit safe?
Mad Rabbit’s new SPF 30 sunscreen shields their new or previous tattoos from dangerous, fading UV radiation every day! Sun damage is a risk for all tattoos.
What is the net worth of Oliver Zak?
Oliver Zak’s net worth is unknown.
What is the net worth of Selom Agbitor?
Selom Agbitor’s net worth is unknown.
