Nightcaps Shark Tank Update | Nightcaps after Shark Tank
What is Nightcaps?
Nightcaps are a device that may be used as an efficient method of outdoor protection. It is not a standard hairband, but a customized design that may be wrapped around a glass to protect it from being drugged or contaminated.
Shirah Benarde, a 16-year-old West Palm Beach native, invented the idea. Shirah has heard innumerable horror stories about alcohol spiking from her pals when she was sixteen.
Subsequently, the solution to this difficulty appeared in her dream. The next day, she altered a pair of her mother’s pantyhose and tied it to a scrunched to create the prototype for her invention.
The drink cover is placed on top of cups or glasses, leaving a hole for the insertion of a straw, preventing nefarious substances from being slid into users’ beverages.
While the organization cannot guarantee safety in all scenarios involving alcohol, the Nightcap remains a vital tool in terms of security and deterrent.
Who is the founder of Nightcaps?
Shirah Benarde, a 16-year-old West Palm Beach native, created the concept. Shirah has heard innumerable horror stories about alcohol spiking from her pals when she was sixteen.
Subsequently, the solution to this difficulty appeared in her dream. The next day, she altered a pair of her mother’s pantyhose and tied it to a scrunched to create the prototype for her invention.
When her elder brother Michael Benarde visited, he viewed the prototype and was immediately taken with the concept.
As a college student, he saw the critical nature of the situation and resolved to assist his sister in realizing its potential.
The siblings collaborated for the following six months. Their start-up was supported with prize money from Florida State Entrepreneur College contests, an Indiegogo campaign that garnered $12,275, and $18,000 from their parents.
In September 2019, the pair created their website. Since then, they’ve sold over 10,000 units across America, in every state and in over two dozen countries, only through their website.
Nightcap is a huge hit with college students and their parents. Additionally, it attracts consumers from various agencies, like police, counselors, and women empowerment organizations.
Shirah is responsible for product development and social media management, while Michael is in charge of distribution.
Nightcaps Scrunches are available in a variety of styles on their website. A single Nightcaps costs $11.99 with discounts available for bulk orders, while a Nightcaps with a reusable straw kit costs $15.99.
They are also available as a family pack of four units for $39.99 and with additional straw kits for up to $51.99.
They are also available on Amazon. These flexible and lightweight scrunches were previously only available in black.
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What Happened Nightcaps at Shark Tank pitch?
Due to the fact that Michael and Shirah are young and lack formal marketing training, they are learning social marketing and SEO organically, which has proven to be extremely beneficial for their business growth; however, they are looking to partner with a Shark who can assist them in expanding more rapidly.
Shirah and Michael desire $60,000 in return for 20% stake of their company, which is valued at $300,000.
Shirah and Michael are looking to diversify their investment base. At the moment, their parents have invested in the firm; otherwise, all funding has come through crowdsourcing and contests.
The Sharks are pleased by the Benarde twins’ market research, product design, and patent work. They applied for and were granted a utility patent for a beverage spiking device that is integrated into a wearable product.
Lori Greiner seizes the opportunity to invest in Nightcaps before the other Sharks can. She admits that she has never felt so strongly about a social cause as she did during her stint on Shark Tank.
Lori then offers $60,000 in return for 25% stake in the firm.
The remaining Sharks push Shirah and Michael to accept Lori’s offer, noting that they had never seen Lori so enthused about a product. They immediately agree and make a deal with Lori Greiner.
What Happened to Nightcaps after Shark Tank?
Following the pitch, Michael, Shirah, and Lori finalized the sale, with Lori assisting them with online retailing.
Nightcap is still up for business as of 2021. The firm presently delivers globally via their website, nightcapit.com, handles bulk/wholesale orders, and is available in-store at approximately fifty locations around the United States and Canada.
For those interested in purchasing in-person, Nightcap’s website includes a shop locator, and wholesale purchases may be customized.
Nightcap looks forward to extending their accessibility and assisting users in avoiding alcohol spiking. The firm increased its net sales by 68 percent to $8.6 million in September 2021.
Net Worth of Nightcaps
The company worth $400,000 during the pith after Lori acquired the company valued at $240,000.
The company has been doing well in sales since then, this shows the net worth of the company have elevate in 2021.
Nightcaps FAQs
What is Nightcaps?
Nightcaps are a device that may be used as an efficient method of outdoor protection.
It is not a standard hairband, but a customized design that may be wrapped around a glass to protect it from being drugged or contaminated.
Who is the founder?
Shirah Benarde, a 16-year-old West Palm Beach native, created the concept. Shirah has heard innumerable horror stories about alcohol spiking from her pals when she was sixteen.
Subsequently, the solution to this difficulty appeared in her dream. The next day, she altered a pair of her mother’s pantyhose and tied it to a scrunched to create the prototype for her invention.
What is their offer on Shark Tank?
They were looking for $60,000 for a 20% stake in the company at valuation of $300,000
Did they get a deal?
Yes, they made a deal with Lori.
How much is the deal?
Lori offer $60,000 for 25% share in the company at valuation of $240,000.
Is Nightcaps still in business?
Yes, it is still in business and doing well since the episode aired.
What add-ons do Nightcaps offers to their customers?
They offer add-ons like nightcapz.com, which is the official communications portal on their social media platforms and includes Nightcap merchandise, tips on banning alcohol spiking, and relevant events for college students.
Who are their clients?
They currently have clients that include schools and colleges such as: Hunter College, Columbia University, Purdue University, and Florida State University to name a few.
Where is their headquarters?
They are listed on their website as being based in Crofton, Maryland.
How many nightcaps have been sold?
‘Since opening their Nightcaps website nightcapit.com in September 2019, the siblings have sold over 10,000 units throughout all 50 states and over two dozen countries.
All sales have occurred via the website. Nightcaps are a favorite among college students and their parents.
How is Nightcaps drink cover doing?
According to one person, he has been using the product for a week and enjoys it. He says that his drink is very secure in his hands when he is at a bar or pool party.
Is Nightcap patented?
Shirah Benarde’s innovation is simple to utilize. The “Nightcap,” as she dubbed it, is designed to fit snugly over the majority of glasses and cups used at pubs and restaurants. Benarde’s innovation now holds a provisional patent.
Are nightcaps good for you?
A nightcap can assist in de-stressing. Its liquor that includes polyphenols, comparable to those found in red wine, that serve as antioxidants.
While a nightcap amount of Cognac may not be sufficient to provide cardiovascular advantages, it does contain chemicals that may be good to your health.
How do you apply for nightcaps?
You can find the details about how to apply for nightcaps on their official website nightcapit.com
Where can I buy Nightcap?
You can get this product at Amazon, Walmart, and EBay etc.
What is the net worth of Shirah Benarde?
The net worth of Shirah Benarde is not known.
What is the net worth of Michael Benarde?
The net worth of Michael Benarde is unknown.
