Psi Bands Shark Tank Update | Psi Bands after Shark Tank
Table of Contents
What is Psi Bands?
Psi Bands is attractive wristbands that employ acupressure to reduce nausea caused by motion sickness, morning sickness, and chemotherapy as a drug-free alternative.
Nausea is also a typical adverse effect of post-operative anesthesia and chemotherapy treatment.
These bracelets apply pressure to the Neiguan pressure point, providing nausea relief while remaining fashionable! For the greatest impact, users need wear a Psi Band on both wrists, which is provided as a pair.
Romy Taormina is the CEO and founder of Psi Bands. She has two grown sons and has been married to her husband for 25 years. She holds a business degree from California Polytechnic University, San Luis Obispo.
She still has the same role now, in addition to making speeches and conducting promotional work, including an appearance on Oprah. She has also earned a slew of business-related honors.
Who is the founder of Psi Bands?
Romy Taormina is the CEO and founder of Psi Bands. She has two grown sons and has been married to her husband for 25 years. She holds a business degree from California Polytechnic University, San Luis Obispo.
During each of her pregnancies, Romy suffered from severe morning sickness. Acupressure wrist bands were the only thing that helped her nausea and vomiting.
Wrist acupressure bands provide pressure to a spot on the wrist immediately below the thumb. The pressure cures nausea without the need of medicines.
Acupressure wristbands have been around for a while, but PsiBands has bundled the concept into something that looks like a wristwatch band.
Other acupressure wristbands on the market resemble tennis wristbands; they aren’t attractive and aren’t waterproof.
Boaters have been using acupressure wristbands to prevent seasickness for years, and Romy wants to sell to the boating community, but they’re also selling to morning sickness parents and chemotherapy patients.
Psi Bands (pronounced Sigh Bands) are presently available for $15 at REI, Whole Foods, drugstore chains, and online.
Check Current Prices on Amazon
What Happened to Psi Bands at Shark Tank pitch?
Romy opted to present her firm to the Shark Tank investors for partnership in episode 18 of Season 4 of Psi Bands on Shark Tank.
Romy appeared on Shark Tank asking for $250,000 in exchange for a 10% stake in the company, which was valued at $2.5 million.
Romy adds that medical studies have proven the usefulness of acupressure wrist bands (they’ve been around for a long time; Psi Bands are just a modern twist on an old idea).
She claims that she has made over $1 million in sales this year (she told me in an interview she is rolling out in 7,500-8,000 additional retail outlets in 2013). Romy also admits to having $600,000 in debt, part of which is estimated to account for back pay.
Barbara isn’t keen on the thought of the firm incurring debt to pay back salaries, so she’s out. Mark is hesitant to participate in the medical research and has opted out. Robert isn’t a fan of cancer claims (Psi Bands aid with nausea linked with chemotherapy), so he’s out.
Daymond claims he doesn’t trust Romy, therefore he goes out. Mr. Wonderful offers $250,000 in exchange for 40% ownership of the firm.
Romy can’t take that figure, so she refuses the offer, and Kevin delivers his famous “you’re dead to me” remark; he also goes out. Romy finally exits the pitch without a deal.
What Happened to Psi Bands after Shark Tank?
Despite the Shark’s concerns about medical claims, the firm is growing and gaining market dominance. They are currently selling briskly through the website, Amazon, and other merchants, having obtained FDA “approval.”
To obtain FDA approval, the designer must demonstrate that her invention is “substantially identical to a device that is already lawfully sold for the same function.”
They are a popular option for millions of individuals who suffer from nausea. Despite the Sharks’ refusal to take a bite out of the firm, it appears that Psi Bands has achieved success.
Her products may be found at Walgreens, Target, CVS, REI, and Amazon. The firm is still in operation and makes $5 million per year as of December 2021.
Competitors of Psi Bands
The Psi Bands’ competitors include NGINX, Inc., McGraw Hill, Landpoint and Alooma.
Net worth of Psi Bands
The company was valued at $2.5 million during the pitch, as of December 2021 the company has a net worth of $200,000.
Psi Bands FAQs
What is Psi Bands?
Psi Bands are attractive wristbands that employ acupressure to reduce nausea caused by motion sickness, morning sickness, and chemotherapy as a drug-free alternative. Nausea is also a typical adverse effect of post-operative anesthesia and chemotherapy treatment.
Who is the founder?
Romy Taormina is the CEO and founder of Psi Bands.
How much was asking on Shark Tank?
Romy was asking for $250,000 for 10% stake of her company.
Did she have the deal?
No, she wasn’t able to get the deal from the Shark Tank.
Is Psi Bands still in business?
Despite the Sharks’ refusal to take a bite out of the firm, it appears that Psi Bands has achieved success. Her products may be found at Walgreens, Target, CVS, REI, and Amazon. The firm is still in operation and makes $5 million per year as of December 2021.
Do Psi Bands actually work?
Psi Bands have been approved by the FDA to treat nausea caused by morning sickness, motion sickness, anesthesia, and chemotherapy.
There are no clinical trials to support or refute their usefulness in treating any other medical issue (i.e. vertigo, migraines).
What is her net worth today?
She is valued at $200,000 as of December 2021.
How much did it cost to make the products?
The designer says that it costs $10 per pair of Psi Bands and takes 8 hours to make each pair. She uses materials such as silicone and nylon, while adding a stainless steel clip.
Where can I buy Psi Bands?
Psi Bands are available for preorder on their website for $15/pair. The suggested retail price is $29.95 per pair; each set includes two bands (one for each wrist).
What do psi bands do?
Psi Bands Mama Acupressure Wrist Bands for Nausea Reduction are fashionable, clinically-proven acupressure wrist bands for nausea relief caused by morning sickness, motion sickness, anesthesia, and chemotherapy.
Do Psi Bands work for pregnancy?
They’ve helped them with nausea in the first trimester of pregnancy, vehicle sickness, anesthetic nausea, and now chemotherapy nausea.
The bands are entirely adjustable and fit their little wrists perfectly, with many notches to spare on the smaller and several on the bigger side.
How long can you wear Psi Bands?
Psi Bands should be worn as needed at the first symptom of nausea. Clinical trials show that they are effective for up to 48 hours. They can be reused. They can also be worn for up to 5 minutes before to travel or operation.
Do Psi Bands expire?
No, they’re not composed of leather, but of a stretchy elastic-like band. They may lose elasticity over time, but they will not expire like medications.
How do pressure Psi Bands work?
The interior of the wrist band has a plastic stud that applies pressure and stimulates the P6 (or Nei-Kuan) acupressure point. It has been demonstrated that applying pressure to this region alleviates nausea and vomiting.
Can you really get pregnant from wearing Psi Bands?
Psi Bands are entirely adjustable and fit their little wrists perfectly. It has been demonstrated that applying pressure to this region alleviates nausea and vomiting.
Is it safe to wear Psi Bands?
They feature medical silicone which has been extensively studied, but is better known as a safe alternative to latex.
The bands are entirely adjustable and fit their little wrists perfectly, with many notches to spare on the smaller and several on the bigger side.
Can Psi Bands be worn while showering?
They may be worn while showering. Studies show that applying pressure to this region alleviates nausea, so it’s not likely a problem.
What is the net worth of Romy Taormina?
Romy Taormina net worth is unknown.
