Sliimeyhoney Shark Tank Net Worth-What Happened After Shark Tank?
What Is Sliimeyhoney? Who Founded Sliimeyhoney?
Sliimeyhoney is a slime manufacturing company that offers non-edible, food-scented slimes. The company was founded by Mark Lin, who pitched Sliimeyhoney on ABC’s Shark Tank in December 2022.
Lin started making slime himself and hired 11 friends to help package and ship it. In his first year, he sold $50,000 worth of product, which increased to $580,000 the following year.
Today, Sliimeyhoney sells its products for $10 to $16 per six-ounce container and has brought in at least $1.2 million since 2020.
Lin is a first-year pre-business economics student at UCLA. He initially publicized his business at school when he launched Sliimeyhoney but gained more attention after posting videos on TikTok.
The company’s TikTok account has over 933,000 followers and is its main source of marketing. Every Saturday, Sliimeyhoney releases new slimes that consistently sell out.
Lin asked for $150,000 in exchange for 10% of his company on Shark Tank. His goal was to move Sliimeyhoney from his garage into a full-fledged warehouse and gain a mentor to help him run the business while he’s in school.
What Happened To Sliimeyhoney At Shark Tank?
Mark presented his company, Sliimey Honey, on Shark Tank and asked for $150k in exchange for a 10% stake in the business. He explained the product in simple terms and mentioned that his slime smells like food.
Mark has over 100 different types of slime available for purchase on his online store, which his mother helps him pack throughout the night.
Additionally, Mark has employed 11 of his high school friends who help him package and ship the products from Monday to Friday.
The company’s lifetime sales total $1.2 million, an impressive feat for a 17-year-old entrepreneur. In 2020, Sliimey Honey generated $50,000 in sales and made a profit of $13,000. D
uring the pitch, Kevin expressed concern about the safety of the product, to which Mark confirmed that it is not edible and could be dangerous if ingested.
During the pitch, Mark Lin received two offers from the Sharks.
He negotiated the equity percentage down to 20% and accepted a deal with Daymond John for $150,000 in exchange for 20% of his company’s equity.
Since then, Sliimeyhoney has seen a huge boost in sales due to the publicity from Shark Tank.
As of March 2023, Sliimeyhoney is worth an estimated $750,000 and has made over $1.2 million in lifetime sales. Mark is expecting to receive further mentorship from Daymond John as part of the deal.
What Happened To Sliimeyhoney After Shark Tank?
Since appearing on Shark Tank, Mark Lin’s company Slimeyhoney has continued to grow its following on Tiktok and set a new annual sales record by the end of 2022.
The company finalized a deal with Daymond John in Shark Tank at a valuation of $750k. As of February 2023, Slimeyhoney is still in business and expecting to receive a huge boost in sales from the publicity.
The deal with Daymond John was finalized in December 2022 for $150,000 for 20% equity. Since then, Slimeyhoney has been worth an estimated $750,000 and is expected to make over $600,000 in sales for 2022.
Sliimeyhoney Shark Tank Net Worth
Mark Lin, the founder of Sliimeyhoney, appeared on Shark Tank America in December 2022 and secured a deal with Sharks Kevin O’Leary and Daymond John for $150,000 in exchange for 20% of his company.
The company was valued at $750,000 after the deal was finalized. As of February 2023, Sliimeyhoney is still in business and has an estimated net worth of around $500,000 USD.
Sliimeyhoney sells non-edible, food-scented slime in flavors like banana milk, hot chocolate, and birthday cake batter for $10 to $16 per six-ounce container.
The company was profitable almost from its inception despite being run by a high school student at the time.
In his first year, Lin made the slime himself, hired 11 friends to help package and ship it, and sold $50,000 worth of product. The next year that number became $580,000.
Since appearing on Shark Tank America in December 2022, Sliimeyhoney has experienced tremendous growth and success.
Is Sliimeyhoney Still In Business?
Yes, Sliimey Honey is still in business as of February 2023. Mark Lin is the owner of the company, which he started in 2018 when he was a teenager.
The company sells non-edible, food-scented slime in flavors like banana milk, hot chocolate, and birthday cake batter for $10 to $16 per six-ounce container.
Sliimey Honey has brought in at least $1.2 million since 2020 and was profitable almost from its inception despite being run by a high school student at the time.
Sliimey Honey’s main source of marketing is its TikTok account, which has more than 933,000 followers. Each Saturday, it announces new product drops that consistently sell out.
The company’s slimes are made from glue, borax, and other ingredients and come with some borax to rejuvenate the slime. Most slimes cost between $11 and $14 and are only available through the company website.