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 Shark Tank Updates
Somnifix is a mouth patch that helps reduce snoring and improve sleep quality. The product was created by Andre Michalak, a doctor and “champion snorer,” and his son Nicholas Michalak appeared on Shark Tank in Season 10 Episode 20 seeking $500,000 for 10% of the company. Mark Cuban offered $500,000 for 20% equity, but the deal was never finalized.
Despite not securing a deal with Mark Cuban, Somnifix has continued to grow and is still in business as of September 2022.
The product is now available in CVS, Walmart, and Amazon, and the company has an annual revenue of $3 million.
The mouth strips gently hold the mouth closed to direct airflow through the nose, reducing snores and improving sleep quality.
Somnifix has received mostly positive reviews on Amazon, with many customers reporting real relief from the product.
The company’s official website also has reviews, news, and ways to purchase the product. Somnifix is estimated to have a net worth of $3 million as of 2022.
Somnifix Shark Tank Table Summary:
| KEY POINTS | INFORMATION |
| Company Valuation at Shark Tank | Approximately $3 million |
| Net Worth as of February 2023 | $3 million |
| Investment from Mark Cuban | $500,000 for a 20% stake |
| Revenue generated after 9 months | $350,000 |
| Somnifix Product | Soft mouth tapes that promote nasal breathing and reduce snoring |
| Product Price | A pack of 28 single-use strips can be purchased for $22.00 |
| Investment Raised | $1,400,000 from friends and family |
| Intellectual Property Protection Cost | Over $350,000 |
| Founder | Nicholas Machalak |
| Outcome of Shark Tank Pitch | Accepted offer of $500,000 for a 20% stake from Mark Cuban |
| Current Business Status | Still operating as of September 2022 with an annual revenue of $3 million |
| Availability | Product is available in CVS, Walmart, and Amazon |
| Product Reviews | Mostly positive reviews on Amazon |
| Additional Information | SomniFix strips are latex- and gluten-free and can be fully recycled. |
Somnifix FAQs
What Is Somnifix And How Does It Work?
SomniFix is a single-use adhesive strip that is worn over the lips during sleep to prevent snoring by keeping the mouth closed.
The strips are made of a recyclable adhesive with a mesh vent that allows for some airflow in case sleepers need to breathe through their mouth. SomniFix strips gently hold the mouth closed, promoting nasal breathing and improving CPAP complianc.
The strips are designed to prevent the tongue from falling back and blocking the airway, which is a common cause of snoring.
SomniFix strips are inspired by an older method of using tape across the mouth to encourage sleepers to breathe through the nose.
However, tape completely restricts airflow, which poses potential safety issues. SomniFix strips, on the other hand, close the lips to encourage nasal breathing instead of mouth breathing during sleep.
SomniFix strips are latex- and gluten-free and can be fully recycled. Each strip is intended to be used for a single night and is available in a single size that can be slightly stretched to fit over the user’s mouth.
SomniFix strips are not indicated to treat sleep apnea on their own and should only be used in combination with a CPAP.
The strips are recommended for individuals who can comfortably and consistently breathe through their nose. It may take some time for users to acclimate to the feeling of the strip on their lips, but most users fully adjust within a week.
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 Outcome Of Somnifix Shark Tank Pitch?
Nicholas Michalak appeared on Shark Tank in Season 10 Episode 20, seeking $500,000 for 10% of his over-the-mouth sleep patch, Somnifix.
Mark Cuban offered to invest $500,000 in exchange for 20% equity, and Somnifix accepted the offer. However, according to Shark Tank Blog, the deal was never finalized. Despite this, Somnifix has managed to grow and stay in business over the years.
As of March 2022, Somnifix is still in business and going strong, with a beautiful website with reviews, news, and ways to purchase a strip for yourself.
Somnifix is available online, with the most popular places to purchase being on their website and Amazon.
Did Somnifix Secure A Deal On Shark Tank?
Somnifix did secure a deal on Shark Tank with Mark Cuban, who offered to invest $500,000 for 20% equity in the company. However, the deal never went through, and Somnifix ultimately did not partner with Cuban.
Despite this, the company has managed to grow and is still in business as of September 2022, with its products available in CVS, Walmart, and Amazon. Its annual revenue is $3 million.
What Happened To Somnifix After Appearance On The Shark Tank?
Somnifix is a mouth strip that helps reduce snoring and improve sleep quality. The product was pitched on Shark Tank in Season 10 Episode 20 by Nicholas Michalak, who was seeking $500,000 for 10% of the company.
Mark Cuban offered $500,000 for 20% equity, and Somnifix accepted the deal. However, the deal with Mark Cuban did not close.
Despite not closing the deal with Mark Cuban, Somnifix has managed to grow and stay in business over the years.
The company now ships products to the USA, Canada, and Europe and has a robust presence on Amazon. As of March 2022, Somnifix is still in business and going strong, with an estimated net worth of $3 million.
The company has a beautiful website with reviews, news, and ways to purchase the product. It is available online, with the most popular places to purchase being on their website and Amazon.
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.
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.
