Somnifix Shark Tank Net Worth 2023
Somnifix Shark Tank Net Worth
Somnifix, the sleep aid device featured on Shark Tank in April 2019, has an estimated net worth of $3 million as of February 2023.
The company was valued at approximately $3 million at the time of its appearance on Shark Tank. Since then, Somnifix’s sales may have increased, but there is no exact figure available.
Mark Cuban invested in Somnifix during its appearance on Shark Tank and offered $500,000 for a 20% stake in the company. However, Cuban has not profited from his ‘Shark Tank’ investments overall.
According to the fan-run website Sharkalytics, Cuban has invested nearly $20 million into 85 companies across 111 episodes of the show since 2009.
What exactly is Somnifix?
SomniFix Strips have been clinically proven to be soft mouth tapes that promote nasal breathing and reduce snoring.
These strips gently adhere to the lips, offering a non-invasive way to stop mouth breathing. Unlike chinstraps, SomniFix Strips allow normal jaw movement while keeping the lips together.
It should be noted that mouth breathing will no longer be possible, but the strips come with a small breathing vent to ensure partial ventilation and comfort.
SomniFix Mouth Strips are a unique and innovative product that encourage healthy and noiseless nasal breathing, which can help prevent snoring. Mouth breathing is one of the most common causes of snoring.
A pack of 28 single-use strips can be purchased for $22.00.
In terms of investment, Somnifix has secured $1,400,000 from friends and family. The company has also spent over $350,000 to protect its intellectual property.
Michalak was seeking $500,000 in exchange for a 10% stake in Somnifix. He mentioned that the company has nine issued patents and intellectual property protection in over 70 countries.
Mark Cuban, a billionaire investor, offered Michalak $500,000 for a 20% stake in Somnifix, and Michalak accepted the offer.
Nicholas developed the mouth tape when his father was suffering from sleep apnea.
Somnifix Shark Tank Pitch
Nicholas Machalak entered the competition seeking an investment of $500,000 for a 10% share in his company, which he valued at an estimated net worth of $5 million.
However, despite all their investments, the company had only generated $350,000 in revenue after operating for 9 months.
While the Sharks were impressed with the company’s profit margin, they expressed concern about how the market would respond to its products.
The only Shark who expressed interest in investing was Mark Cuban, who believed that the company required a significant marketing overhaul.
In the end, Mark Cuban made an offer of $500,000 for a 20% stake in the company, which Nicholas Machalak accepted.
Somnifix FAQs
What exactly are SomniFix Strips?
Somniflix is an anti-snoring product. SomniFix rose to prominence on Shark Tank in 2019 with their revolutionary sleep solution: adhesive mouth strips that prevent mouth breathing and thereby minimize snoring.
What are the benefits of using SomniFix Strips?
SomniFix Strips is less intrusive and more pleasant than tongue-retaining or mandibular advancement devices.
Another advantage is that it alleviates the discomfort caused by symptoms such as dry mouth or nasal congestion
What is the price of a SomniFix strip?
Pricing for SomniFix Product Cost $22 for a 4-week dosage (28 strips)
How can I make adjustments to my SomniFix mouth strips?
SomniFix mouth strips are adaptable and may be sized to fit most faces
What is a SomniFix Strip made of?
The strips are made up of a mild adhesive strip and a mesh vent. For many consumers, SomniFix Strips significantly minimize snoring.
Are SomniFix Mouth Strips reusable?
It’s a one-time-use mouth patch that helps mouth-breathers sleep better.
Who is the founder of Somnifix?
Nicholas Machalak is the founder and CEO of Somnifix. He pitched Somnifix on ABC Shark Tank Show.
What was the deal?
He accepted a $500,000 offer from billionaire Mark Cuban in exchange for a 20% stake.
What are people saying about it?
Thousands of 5-star reviews, with buyers applauding the product’s ease of use and amazing results.
What exactly are SomniFix Strips?
SomniFix Strips are soft mouth tape that has been clinically shown to promote nasal breathing and reduce snoring.
Improve CPAP Compliance as well as your sleep quality.
How does SomniFix Strips work?
SomniFix Strips are non-invasive sleep aids that help you stop breathing through your mouth.
Consumers who use SomniFix report decreased snoring.
The device tapes your lips shut as you sleep, diverting airflow down your nose.
What are the benefits of using mouth sleep strips?
This lowers mouth snoring and dry mouth while also improving sleep quality.
What exactly is Somnifix?
Somnifix strips are a unique breathable mouth patch that aids in the reduction of mouth breathing and snoring so you may have a good night’s sleep.
What are the drawbacks of adhesive?
Inadequate adhesive quality. Some users have claimed that it is too delicate. An adjustment period is required.
What is the purpose of Somnifix?
Somnifix is intended for those who breathe through their mouth.
What are the advantages of Somnifix?
It will help you to get a decent night’s sleep and ensure that you are not bothering anyone while sleeping at night.
When did Somnific appear on shark tank?
In Shark Tank episode 1019, Nicholas Machalak invited the Sharks to invest in Somnifix, his mouth strips that prevent snoring.
They provides solutions such as mouth strips to assist nasal breathing in those who have sleep-disordered breathing problems.
Where can I purchase Somnifix?
They are available on Amazon as well as the company’s website.
What do you think of the product?
The majority of Amazon reviews are good, and individuals report that this product provides actual relief.
Can I stop snoring with my mouth open?
SomniFix Strips are the first of their type to effectively address open-mouth snoring.
Do I require SomniFix Strips?
SomniFix Strips are for you if you can snore with your mouth open but not with your mouth closed.
What are the signs and symptoms of snoring?
Do you have a dry mouth, sore throat, or nasal congestion when you wake up?
What exactly is the idea behind mouth strips?
A basic notion is mouth strips that adhere to your lips and keep them closed to avoid mouth breathing.
What is the mechanism of action of SomniFix mouth strips?
SomniFix Strips softly shut the mouth to guide airflow into the nose, minimizing snores, enhancing sleep, and increasing compliance with CPAP and oral equipment.
Who manufactures mouth tape?
SomniFix International LLC manufactures the mouth tape in the United States.
What are the drawbacks of lip tape?
The entrepreneurs believe that the lip tape may be inhaled through in an emergency, but the wearer’s lips cannot be open wide. In addition, kids are not permitted to apply lip balm at night.
What is Somnifix’s main competitor?
According to the entrepreneur, the Breathe Right strip is Somnifix’s main competition.
Can you reuse SomniFix Mouth Strips?
SomniFix mouth strips are a disposable sleep aid that prevents you from sleeping by breathing through your mouth.
What are the consequences of sleeping with your mouth open?
It’s also unhealthy for dental hygiene since an open mouth attracts dust and germs.
Is it Safe to Buy Somnifix?
According to the entrepreneur, Somnifix has regulatory clearance in the United States, Canada, the European Union, and Australia.
They are therefore deemed safe.
Is SomniFix still in operation?
The firm continues to supply to the United States, Canada, and Europe, and it has a global reach on Amazon. The company is still in operation as of December 2021.
Is SomniFix available in stores?
SomniFix is available without a prescription via the SomniFix website as well as numerous drugstores.
Summary
SomniFix® Strips can enhance sleep quality even for non-snorers by reducing open-mouth snoring.
SomniFix® Mouth Strips are developed for open-mouth snorers by allowing you to breathe via your nose instead of your mouth while sleeping.
SomniFix mouth strips have a breathing vent, hypoallergenic residue-free adhesive, and are simple to use.
