Nohbo Shampoo Shark Tank Net Worth 2023

Stern initially believed that his business was worth $500,000. When he asked for $100,000 in exchange for a 20% ownership stake, this implied a valuation of $500,000 for the entire business.

However, when Mark made an offer to invest $100,000 in exchange for a 25% ownership stake, Stern accepted this offer.

This resulted in a new valuation of the business of $400,000, because Mark’s 25% stake was equivalent to $100,000 in value, and this represented a larger portion of the total value of the business than Stern had originally anticipated.

What is Nohbo Shampoo? Who Founded Nohbo Shampoo?

A water-soluble ball is utilized to encase personal care products like shampoo. The Nohbo ball is an example of such a ball, which contains a single-use portion of shampoo, conditioner, or soap.

Once the one-inch-diameter ball comes into contact with water, the membrane covering it disintegrates, releasing a semi-dry substance that quickly forms lather when mixed with water.

Nohbo Shampoo’s founder, Benjamin Stern, intends to sell his own products initially, using the Nohbo balls, but eventually plans to license the technology to prominent corporations.

In October 2016, he will initiate a trial with several large hotels, with the objective of having everything running smoothly by then. Stern, who was 16 years old at the time, was inspired by a movie on plastic pollution in his 9th grade classroom, and subsequently came up with the idea for Nohbo balls after being inspired by his mother’s laundry detergent pods as a potential solution for transporting personal care products.

Nohbo Shampoo Shark Tank Pitch

Benjamin attempted to use Kickstarter to raise funds for his product, but he was unsuccessful. Instead, he borrowed money from family and friends, depleted his college fund, and received $20,000 worth of pro bono legal assistance from a local company. He hired a scientist to create the product and obtained multiple patents.

Benjamin, who lives with his mother and grandmother, began his venture with an investment from his grandmother, whom he calls Bubbe.

He seeks to address the issue of plastic waste caused by bottled washroom goods and wants his product, NOHBO, to be available in every shop in the United States. He is looking for a $100,000 investment for a 20% stake in his company, which values it at $500,000.

NOHBO is a shampoo ball that eliminates the need for plastic bottles and is less expensive. Benjamin is working on a novel product distribution method that he intends to sell to large corporations. He is currently pressing the balls by hand and believes that the patent is valid.

On Shark Tank, Lori advises against selling a product unless it has been licensed, and she is out. Mr. Wonderful believes in the importance of patents but decides not to invest.

Robert offers to pay $100,000 for a 20% stake in the patent if it is approved, while Barbara offers $100,000 in exchange for a 20% stake in Estee Lauder if they agree to a deal with Benjamin. Mark offers $100,000 for a 25% stake in Benjamin’s company, which he accepts.

With Mark’s help, NOHBO gets off to a great start, but there are some delivery delays and other issues along the way. In 2018, Benjamin switched from using powdered balls to gel drops, which he renamed NOHBO Drops.

He has 76 million purchase orders across Europe for the next four years and has recently raised $3.5 million in venture capital. Mark believes that the company has the potential to grow to a $100 million firm in the next few years.

Nohbo Shampoo Net Worth

Stern values his business at $500,000 when he asked for $100,000 for 20% stake but he accepted Mark’s offer of $100,000 for 25% stake thus bringing the value to be $400,000.

Nohbo Shampoo Competitors

Schmidt’s Naturals, Better Living Products, Bruemate, and Molly’s Suds are among Nohbo’s main competitors.

Nohbo Shampoo FAQS

Is Nohbo protected by a patent?

The NOHBO Ball is a little ball that contains shampoo, conditioner, or soap.

Each ball holds enough product for a single application. He obtained multiple patents after hiring a scientist to create the product.

What are Nohbo balls, and what do they do?

Nohbo Ball is a shampoo ball wrapped in plant-based material that does away with the need for a plastic container. Water or friction activates the ball.

Who manufactures Nohbo products?

Stern: “NOHBO is manufactured right here in my state, and we’re almost entirely created and processed here in Florida.”

Where does Nohbo Shampoo originate from?

Florida: “We manufacture the product in our factory located in Melbourne, Florida.

We started with a prototype and then we partnered with a chemist who helped us to create the final product.

He did all the research and development while I took care of all other aspects.

Is Nohbo Shampoo eco-friendly?

It is made from biodegradable and recyclable materials and they utilize recycled PET plastic.

They also use 80% less water than traditional shampoos, but they never need to be thrown away.

Who created Nohbo?

Benjamin Stern who hails from Melbourne, Florida, is the CEO and founder of Nohbo.

Nohbo is made of what?

Genomatica’s natural BrontideTM butylene glycol is used in NOHBO Labs’ new collection of eco-friendly products.

Brontide is created from a sustainable and renewable sugar fermentation process and is a vital element that permits the drop to remain fully encased until it comes in contact with water or friction.

Do Nohbo Shampoo balls attach to my hair?

The NOHBO ball is made of plant-based material that pushes against your hair as soon as it comes in contact with water or friction. The balls last for four to six weeks.

What was the deal with Shark Tank?

Nohbo Shampoo secured a deal worth $100,000 for 25% equity  of his business when they appeared on Shark Tank with Mark Cuban.