SoaPen Shark Tank Update | What Happened to SoaPen after Shark Tank?
What is SoaPen?
SoaPen is a set of three pens that release colored soap as children or caregivers draw on their hands, providing a fun and mild alternative to traditional hand sanitizers and soaps.
The soap-pens come in green, orange, and blue and are designed to educate young children on the importance of handwashing as they rinse away their colorful drawings.
The co-founders of SoaPen, Amanat Anand and Shubham Issar, met at Parsons School of Design in New York and won the UNICEF Wearable for Good competition in 2015 after graduating with BFA degrees.
They were also finalists for the James Dyson Award in 2016.
Who is the founder of SoaPen?
Amanat Anand and Shubham Issar, both designers with a background in textiles, founded SoaPen in 2019 after meeting at Parsons School of Design in New York.
Anand holds a BFA from the School of Visual Arts, and graduated from Parsons in 2015, while Issar has an MBA from Babson College, a MA from The State University of New York at Buffalo, and graduated with a degree in film production from New York University.
The company was created in response to high rates of infection caused by improper hand washing among children and was initially funded through the UNICEF Challenge and a successful Kickstarter campaign, raising over $28,000, which made the product available on Amazon by early 2018.
What Happened to SoaPen at Shark Tank pitch?
On an episode of Shark Tank, Amanat and Issar presented their startup, Soapen, to the Sharks. They were seeking $100,000 in exchange for a 10% stake in their company, which was valued at $1 million.
They impressed the Sharks with their product and concept, but the Sharks had concerns about their sales and marketing strategy.
Despite this, guest shark Nirav Tolia was impressed with their attitude and made a late offer of $100,000 for 10% equity and a $1/unit royalty until the $200,000 is repaid. Amanat and Issar accepted the offer.
What Happened to SoaPen after Shark Tank?
After the show, Nirav and two women finalised a deal and with his wife’s support, their business, SoaPen, is now set for success.
As of January 2022, the product can be found for purchase in over 100 stores, on Amazon, and on their website, soapen.com.
Competitors of SoaPen
Soapen has many competitors in the market, including KlientBoost, INFUSEmedia, DashClicks, CIENCE, WebFX, OpenMoves, CloudTask, and SmartSites.
Net Worth of SoaPen
The company valuation was $1 million during and after the pitch. As of January 2022 the company has a net worth of $1 million.
What is SoaPen?
SoaPen is a set of three scented pens that release colored soap while children or caregivers draw on their hands. The soap-pens in green, orange, and blue are a mild alternative to hand sanitizers and regular soaps.
As kids rinse away their colorful paintings with water, the device is meant to educate young children to practice basic hand washing.
Who is the founder?
Amanat and Shubham Issar, co-founders of SoaPen, grew up in India but met at Parsons School of Design in New York.
They won the UNICEF wearable for Good competition after graduating from Parsons in 2015 with BFA degrees. Amanat and Shubham were also finalists for the James Dyson Award in 2016.
How much were they asking on Shark Tank?
They were asking for $100,000 in exchange for 10% of their startup, which is worth around $1 million.
Did they have the deal?
Yes, they did with Nirav Tolia.
How much was the deal?
Nirav Tolia offered $100,000 for 10% equity shares of the company and a $1/unit royalty until the $200,000 is repaid.
Is SoaPen still in business?
Yes, it is still in business and is available at amazon.com and many other stores.
How are the SoaPen products?
Very good and successful after Shark Tank
What are the ingredients in SoaPen?
Each SoaPen contains 70% of glycerin and 30% water, no color.
How long does each SoaPen last?
Soap-pens last for 2 weeks under normal use. They can be refilled with any scented soap and reused up to 10 times over the course of their life span.
Is the SoaPen website up and running?
Yes, it is. The company has a website with a one-page landing page to view all available products to buy at http://www.soapen.com/
How do I pay for SoaPen?
They accept all major credit cards.
Where are they made?
They are made in India but can be shipped to any country in the world.
How sanitary is it?
SoaPen is a safer alternative to regular soaps and hand sanitizers that reduces the spread of diseases by encouraging children to wash their hands with soap.
It’s also very simple to clean and refill, making it easy to use and a good alternative for keeping kids clean while school washing facilities remain unavailable.
What is the shipping cost?
They charge a flat shipping rate of $4 per order for orders within the United States and $10 per order for international orders.
What is the quality of SoaPen?
The products are very high in quality and are still in production till date.
What parts of the body did SoaPen produce?
It produced a range of soap making pens which were normally used to make drawings on the hands, arms, face or any other part of the body.
How many SoaPen pens does each order need?
Each order needs one Soapen reusable soap pen. Each Soapen pen provides a great opportunity for non-profits and schools, and encourages children to take extra care of their hands. Researchers have found that kids who wash their hands frequently are less likely to get sick.
What is the net worth of Amanat Anand?
The net worth of Amanat Anand is not available.
What is the net worth of Shubham Issar?
The net worth of Shubham Issar is not available.