PiperWai Shark Tank Net Worth 2023
PiperWai is a line of natural and biodegradable deodorant that appeared on Shark Tank. The company has an estimated net worth of $2 million as of 2022, and its founders have a net worth of $1.5 million as of 2022.
It grew 6,000% in the year after their Shark Tank appearance and had revenues estimated at $5.9 million in 2017.
What is the meaning of the name PiperWai? Who are the Founders of PiperWai?
PiperWai, a Philadelphia-based company, is renowned for creating an all-natural charcoal deodorant. Its name is a combination of the founder’s family dog, Piper, and the Wai Wai tribe of Guyana.
The product was developed in the founders’ kitchen in Philadelphia. The company was conceived when one of the founders, Edelstein, gave the product to Ribner to test during their trip to South America in November 2013.
To start the business, the founders received a $2,000 loan from their parents to manufacture raw materials and develop a website. PiperWai is a natural deodorant line that uses charcoal and clay to manage odor.
The company has been selling its products for eight years since it was founded in the United States in 2014.
PiperWai differentiates itself from other natural deodorant brands by offering a variety of scents instead of only one.
In 2015, the company appeared on Shark Tank and received an offer from Barbara Corcoran, resulting in a substantial increase in sales. However, the founders turned down the offer and continued to self-fund the business.
PiperWai was established by Ribner and Edelstein in 2014. The company raised $27,000 via crowdfunding in 2015 for a branding change.
Presently, the company serves 200,000 customers, and its products are available in over 200 independent lifestyle retailers.
PiperWai has received extensive media coverage and is well-known on the Home Shopping Network, where it is frequently promoted by the host and health expert Noel Elie.
The mixture contains activated charcoal powder, which can rub clear and not leave stains on clothing. It is able to absorb a large amount of liquid and is applied in small pea-sized amount to the armpit from a container.
Other ingredients in the mixture include cocoa butter, Shea butter, vitamin E, magnesium hydroxide, baking soda, and a blend of 11 essential oils.
PiperWai is a natural deodorant created by founders Sarah Ribner and Jess Edelstein, in response to their difficulty finding effective natural deodorants without harsh ingredients like aluminum.
The product uses activated bamboo charcoal for its antibacterial properties to eliminate odors at the source, and bentonite clay to absorb and seal in sweat.
The goal of PiperWai is to provide an alternative to chemical and artificial ingredients such as aluminum, parabens and phthalates, with an all-natural formula that won’t cause additional health issues.
PiperWai Shark Tank Pitch
PiperWai is a brand of natural and biodegradable deodorant that was featured on the television program Shark Tank. The founders of the company requested an investment of $50,000 in exchange for a 10% ownership stake in the company, which valued the company at $500,000.
Following their appearance on the show, PiperWai sold over $1 million in deodorant within just 10 days, making it one of the fastest companies to achieve this sales milestone on the show.
Today, PiperWai collaborates with more than 250 retailers throughout the United States and Canada, including popular stores like Whole Foods, GNC, and LuckyVitamin, as well as beauty shops, gyms, pharmacies, and wellness centers.
During their appearance on Shark Tank, Jess and Sarah were initially seeking $50k for a 10% stake in PiperWai. Barbara expressed interest in the company and offered $50k for a 33% stake. Lori, another Shark Tank investor, mentioned her interest in natural deodorants and proposed paying $50k for a 35% stake.
After some negotiations, Barbara ultimately agreed to invest $50,000 in exchange for a 25% ownership stake in the company.
PiperWai Shark Tank Updates
PiperWai is a natural deodorant company that appeared on Shark Tank in season 7, episode 11. The founders, Sarah Ribner and Jess Edelstein, asked for $50,000 for 10% equity in their company. They explained that their deodorant is made from activated charcoal and neutralizes odors.
They also talked about the dangers of conventional deodorants that contain toxic ingredients. During the pitch, they asked the Sharks to smell their friend’s armpits, who had just run five miles and was wearing PiperWai1. Lori Greiner sniffed and was impressed.
Barbara Corcoran made a deal with PiperWai for $50,000 for 25% equity. After the show aired, PiperWai hit the million-dollar mark for sales in just ten days.
They sold out of the 10,000+ units they had set aside for the show. PiperWai was the third fastest Shark Tank business to hit the million-dollar sales mark. As of 2022, PiperWai’s net worth is above $2 million.
In season 7, episode 20, PiperWai appeared in an update segment. They talked about their sales success and had a meeting with Barbara. The update segment was filmed after the deal was made, but it is unclear whether the deal was ever closed.
PiperWai is still in business and managed by the founders. They are taking steps to grow their company. PiperWai can be purchased at various retail locations, on Amazon, or directly from the company’s website.
Summary Table for Piperwai.
|Product||Natural and biodegradable charcoal deodorant|
|Founders||Sarah Ribner and Jess Edelstein|
|Net Worth||$2 million (company), $1.5 million (founders) as of 2022|
|Revenue (2017)||Estimated $5.9 million|
|Shark Tank Appearance||Season 7, Episode 11|
|Funding Requested||$50,000 for 10% equity|
|Shark Tank Deal||Barbara Corcoran invested $50,000 for 25% equity|
|Sales After Pitch||Sold over $1 million in deodorant within 10 days; third fastest to hit $1M sales|
|Distribution||Sold in over 200 independent lifestyle retailers, including Whole Foods, GNC, LuckyVitamin, and more.|
|Ingredients||Activated charcoal, bentonite clay, cocoa butter, Shea butter, vitamin E, magnesium hydroxide, baking soda, and 11 essential oils.|
What Is Piperwai And How Does It Work?
PiperWai is a natural deodorant that uses activated charcoal to neutralize odor and absorb wetness. It is formulated with clean ingredients that are gentle on sensitive skin, such as coconut oil, shea butter, cocoa butter, and pure Vitamin E oil.
The activated charcoal in PiperWai can absorb 1,000 times its own weight in moisture, forming an invisible absorbent shield between the skin and sweat. This creates a pH-balanced environment where bacteria cannot thrive, leaving the user with fresh pits.
PiperWai’s proprietary blend of 11 therapeutic-grade essential oils gives it a signature spa-like scent of citrus and mint.
The essential oils are believed to have specific anti-microbial properties that work with the other ingredients to keep the user stink-free.
PiperWai is certified vegan, cruelty-free, and does not contain common pollutants or toxic ingredients that harm the environment or the user.
To use PiperWai, the user needs to scoop a pea-sized amount and rub it between their fingers to melt it a little. Then they can apply it to their armpits. PiperWai is available in both a cream jar and a scented stick.
What Are The Ingredients In Piperwai?
PiperWai natural deodorant contains clean and gentle ingredients that are effective in neutralizing odor and absorbing moisture. The key ingredient is activated charcoal, which can absorb 1,000 times its own weight in moisture and forms an invisible absorbent shield between the skin and sweat.
Other ingredients include tapioca starch, coconut oil, shea butter, sodium bicarbonate, cocoa seed butter, witch hazel extract, and essential oils such as peppermint, eucalyptus, lavender, and rosemary.
PiperWai products are certified vegan, cruelty-free, and do not contain common pollutants or toxic ingredients that harm the environment. They are available in both cream and stick form.
What Was The Outcome Of Piperwai Shark Tank Pitch?
PiperWai made a deal with Barbara Corcoran on Shark Tank for $50,000 in exchange for a 25% stake in the company.
However, the deal was never closed. After their appearance on the show, PiperWai saw a significant increase in sales and was inundated with orders.
In a Shark Tank update released three months after their episode aired, the founders said they had $110,000 in sales and had been in business for only a year and a half. As of 2022, PiperWai is still in business and has managed themselves without the help of a Shark Tank investor.
Did Piperwai Get A Deal On Shark Tank?
Yes, PiperWai got a deal on Shark Tank. In season 7, episode 11, the founders of PiperWai, Jess Edlestein and Sarah Ribner, pitched their natural deodorant product and asked for $50,000 in exchange for 10% equity.
However, they ended up making a deal with Barbara Corcoran for $50,000 in exchange for 25% equity. Although the deal was never closed, PiperWai saw a surge in sales after their episode aired and made $1.3 million in sales within 10 weeks. As of 2022, PiperWai is still in business and has a net worth of over $2 million.
How much is PiperWai worth?
PiperWai is a line of deodorant that claims to be made with “all-natural” ingredients.
PiperWai was sold in around 40 independent brick-and-mortar retailers across the United States, one in Canada and one in Beijing, before appearing on Shark Tank.
They saw a 6000% growth within a year of appearing in the shark tank show.
Sales soared from $110,000, in ten months, before the event to a mind-blowing $2 million three months later. This resulted in a considerable expansion in retail collaborations.
The deal with Barbara for $50K for 25% had the company valued at $0.2 million valuations.
What does PiperWai smell like?
It has a spa-like scent to it. PiperWai’s characteristic spa-like smell of citrus and mint comes from a proprietary combination of 11 therapeutic-grade essential oils.
You may confidently leave your house without smelling like baby powder or other synthetic fragrances.
Is PiperWai for men or women?
PiperWai is a natural deodorant that can be used on any part of the body. These natural deodorants are intended for use by people of all genders and ages.
PiperWai produces sustainable personal care products that genuinely work with the best ingredients taken from nature.
PiperWai offers to redefine better hygiene basics, beginning with the first natural deodorant that uses activated charcoal to eliminate odor and absorb moisture.
PiperWai products are cruelty-free, vegan, and free of common pollutants and hazardous substances that affect the environment and human bodies.