Manscaped Shark Tank Net Worth 2023
Manscaped Shark Tank Net Worth
Manscaped, a company that sells tools and products for below-the-waist grooming and hygiene for men, has had an incredible amount of success since it made its debut on Shark Tank in October 2019.
The company has reached a net worth of $700 million as of 2022, and has partnerships with several California sports teams, including the Los Angeles Kings NHL team.
In their pitch to the Sharks, Josh and Steve King asked for $500,000 for 7% of their self-grooming company. The duo explained the contents of their perfect package, which includes a collection of eight products that all contribute to a man’s healthy hygiene.
In 2017, they did $1.5 million in sales with a manufacturing cost of just $12 and an average order value of over $50.
Mark Cuban and Lori Greiner were interested in the business but ultimately did not make an offer on the show.
However, after the episode aired, Cuban and Paul Tran (Manscaped’s founder) agreed to a six-figure deal that did not come to fruition.
What is Manscaped? Who Founded Manscaped?
Manscaped is a men’s grooming service that is located in San Diego, California. This brand produces and distributes male grooming tools and hygiene products.
The company was founded by Paul Tran in 2016, who noticed a lack of male hygiene solutions in the market.
Together with co-founder Steve King, they created the world’s first dedicated male grooming and hygiene brand, targeting the manscaping market.
The CEO of Manscaped, Paul Tran, wanted to focus on male grooming products that specifically address pubic hair removal.
The company’s branding is centered around the term “manscaping,” which has been used for a long time and is even defined by Merriam-Webster.
In addition to this, Manscaped has gained popularity by using humor and tackling male hygiene taboos through the use of puns and paid celebrity appearances.
Manscaped Shark Tank Pitch
Manscaped, a company that offers male grooming products, appeared on season 10, episode 4 of the TV show “Shark Tank” on October 28, 2018.
The company was represented by Tran’s business partner and co-founder Steve King and his son Josh King, who were seeking $500,000 for 7% of the company, which indicated a valuation of $7.1 million.
During their pitch, the Kings distributed product samples and explained their business. The Sharks were informed that 73% of men groomed their private areas, and Manscaped had made $1.7 million in revenue in 2017 but had lost $133,000. However, the company had demonstrated significant growth, making $2.8 million year-to-date.
The Kings shared that their product cost $12 to make and $51 to sell, with customer acquisition costing $16 per customer.
Despite some concerns from the Sharks about profit margins and customer acquisition costs, an agreement was reached between the Kings and Mark Cuban and Lori Greiner, who offered $500,000 for 25% of the company.
Although Robert Herjavec initially offered $500,000 for one-third of the company, he eventually retracted his offer.
Since its appearance on “Shark Tank,” Manscaped has continued to grow and attract investment. As of 2021, the company reportedly had $100 million in annual sales and was exploring acquisition opportunities.
Manscaped was also in talks with a blank-check firm, Bright Lights, to form a combined entity valued up to $1.4 billion.
Bright Lights went public on the Nasdaq stock market in January 2021, with a focus on finding a merger target in the consumer products or media sectors.
Additionally, the company sponsored the San Francisco 49ers and UFC fights, and partnered with NFL player Rob Gronkowski and sportswear model Camille Kostek in a marketing campaign.
Manscaped Net Worth
Manscaped Company Net Worth is approximated to be over $700 Million as of 2021.
Manscaped Competitors
Manscaped primary competitors are Oars + Alps, Brickell & American Crew.
Manscaped FAQS
Who founded Manscaped?
Paul Tran started Manscaped in 2016 after identifying a market need for a men’s hygiene solution. He was the founder and CEO of Manscaped.
Did Shark Tank invest in Manscaped?
Mark Cuban and Lori Greiner of Shark Tank invested in Manscaped grooming kit, but it never closed.
What episode of Shark Tank was Manscaped on?
In Shark Tank season 10 episode, father and son team Steve and Josh King hope to land a deal for Manscaped, their male grooming products.
Is Manscaped profitable?
Manscaped claims to have made $2,100,000 in gross sales in the year this deal aired, and would have made between $60,000 and $80,000 per month in profit if the money hadn’t been re-invested in media (advertisements) and inventory.
What is the size of Manscaped?
According to one source familiar with the situation, the company could be valued at more than $700 million. The company’s annual revenue is around $100 million.
Is The Weed Whacker waterproof and shower-safe?
Yes, The Weed Whacker complies with IP54 water intrusion standards.
Is it possible to use The Weed Whacker to trim ear hair as well?
Yes, The Weed Whacker was created to make ear and nose hair trimming simple.
Are Manscaped products animal tested?
At Manscaped, we take pride in both our products and their furry companions. As a result, their products are not subjected to animal testing.
Are Manscaped products vegan?
All of their products are cruelty-free and vegan. They do not test on animals; only on humans.
Do Manscaped products contain alcohol?
The Manscaped products are 100% alcohol-free and contain no alcohol, ever.
How can they contact a representative from Manscaped?
They may contact them by visiting their website www.manscaped.com, emailing [email protected]manscaped.com, Facebook, Twitter and Instagram.
Where are The Lawn Mower 3.0, 4.0 & The Weed Whacker™ manufactured?
The Lawn Mower3.0, 4.0, and The Weed Whacker were mindfully developed in San Diego, California, and ethically made in China.
Can they make a one-time purchase?
They presently offer both one-time purchases and a range of replenishment options for individual items, as well as a unique membership option with their Peak Hygienic brand.
How do they charge The Lawn Mower 2.0?
The charging wire for The Lawn Mower2.0 may be plugged into any USB charging port; the charge duration is around 5-8 hours.
Always ensure that their device is fully charged before to beginning each session of cutting.
While charging, the LED indication light will blink red.
When the LED indication light turns green, the item is completely charged.
If the LED indication light on the trimmer becomes red while in use, the gadget must be recharged.
Do they ship internationally?
Manscaped is now available for purchase and shipment to the following locations:
United States of America, Canada, Australia, and New Zealand, United Kingdom, European Union, Singapore, South Africa, United Arab Emirates (UAE), and Kingdom of Saudi Arabia (KSA)
How long does shipping take?
Their orders are normally sent within 1-2 business days and arrive between 4-7 business days for consumers in the United States.
Can they use Manscaped without guard?
Alternatively, they may utilize The Lawn Mower without a cutting guard; this will protect them from cuts more effectively than a straight razor blade.
To achieve a close shave, they must climb up there. That means they must handle the package with care as they run the trimmer over their skin.
Can they use The Lawn Mower with permission?
In home assisted living facilities and for personal use, only.
Is The Weed Whacker safe for kids?
The trimmer has been designed to have minimal handling risk, making it safe for children up to 3 years old.
Can they apply Manscaped directly on their face?
While they may use the trimmer on both their face and body, they must swap out the blade while using it on their face, maintaining one blade for the body and one for the face.
Is it possible for them to leave Manscaped on charge?
A charging station is included with the trimmer. As long as they periodically charge the battery, they’re fine to go.
How long does it take for the lawnmower to charge?
Charging periods for electric lawnmowers vary considerably depending on the battery type, the battery type, and the charger type.
Numerous tiny electric lawnmowers with rapid charging require around 100 minutes to charge and work for up to a half hour.
Large sit-on lawnmowers may be recharged in 3 to 4 hours with quick charging.
What is the net worth of Paul Tran?
Unknown.
Who owns the company Manscaped?
Paul Tran.
Does Mark Cuban own Manscape?
No.
MANSCAPED is a publicly traded firm.
(“Bright Lights”) (NASDAQ:BLTS), a publicly listed special purpose acquisition company, announced that it has entered into a final business combination agreement that will result in the public listing of MANSCAPED.
Is Manscaped Made in USA?
Their wet products and consumable products are made in San Diego, California.
How much money does Manscaped spend on advertisements?
They say they would have earned around $60,000 to $80,000 each month,” “but they reinvested all of that money in merchandise and paid media [advertising].”
They spend between $120,000 and $150,000 on paid media.
Is it true that Manscaped does not cut them?
It may cause discomfort. It may even cause them to bleed, but it will never cause them to get cut. Second, waxing is extremely long-lasting. In general, wax may cause less pain than a blade.
How can they cancel my subscription to Manscaped?
They may cancel their Manscaped membership by contacting their customer service department through email.
Send an email to [email protected] and request that their account be cancelled.
What does Manscape mean?
The shaving or clipping of a man’s body hair in order to improve his look.
Who is Manscaped intended audience?
Manscaped target audience is males between the ages of 18 and 35, and they have strategically partnered with the Testicular Cancer Society to raise awareness about the most common type of cancer in men between the ages of 15 and 35.
