Stasher Shark Tank Net Worth 2023
The company saw an impressive valuation of $8 million after its pitch, and following the SC Johnson acquisition, its value likely increased significantly due to their 2021 annual revenue of $12 million.
This showcases a great return on investment over the year and is sure to benefit both parties involved in this high-profile transaction.
What is Stasher?
Stasher produces silicon bags that can be reused, replacing single-use plastic bags. While these bags are charming and delightful, they serve a larger purpose than just being a lovely product. Stasher’s objective goes beyond that.
The founder of Stasher, Kat Nouri, is passionate about health and nutrition. Her interest in this field inspired her to create Modern Twist, a company that produces various types of reusable silicone products for households, children, babies, and other uses.
Despite making food-safe silicone products since 2005, she realized that she was still using single-use plastic bags, and decided to do something about it.
Stasher is not just another product in a line of containers. Kat Nouri worked tirelessly to create platinum silicone bags that can be used infinitely, in various sizes. Her goal is to minimize plastic waste and hazardous materials and make a significant contribution to environmental preservation efforts.
Who is the founder of Stasher?
Kat Nouri, a Ph.D. Nutritionist and founder of Stasher, was surprised by the number of plastic bags she was using to pack her children’s lunches. She is the daughter of an Iranian professional wrestler and has a background in nutrition.
In response to this issue, she created Stasher bags using pure platinum silicone as an alternative to plastic. The bags are resealable and have a lifespan of three years. They are freezer, microwave, and dishwasher safe and can even be used for sous vide cooking.
Stasher bags were first introduced in January 2016 and are now widely available through retailers such as Amazon and Target. This is not Nouri’s first foray into silicone-based products, as she founded Modern Twist in 2005, which produces a range of silicone-based baby products, placemats, and coasters. Modern Twist has annual sales of around $10 million.
Stasher bags come in three sizes: half-gallon, sandwich, and snack, with more sizes to come. They are available in various colors and range in price from $12 to $30. Nouri believes that the bags’ three-year lifespan will encourage people to switch from plastic bags to Stasher bags.
What Happened to Stasher at Shark Tank pitch?
Kat Nouri decided to present her invention to the investors on Shark Tank with the aim of accelerating her company’s growth. Accompanied by an assistant, she sought a $400,000 investment for a 5% stake in her $8 million valued company.
During her pitch, Kat showcased her product and highlighted its patented sealing mechanism. She distributed product samples and acknowledged that the Sharks believed her product to be expensive, but explained that the use of platinum silicone, which can be reused multiple times, would eventually save customers money by eliminating the need for repeated purchases of disposable plastic bags.
Kat also informed the Sharks that her company generated $1.6 million in sales in the previous year and had a profitable business model with a blended margin of 63 percent. She expressed confidence that her company would be worth $100 million in four years, which amused the Sharks.
Robert was not convinced of the product’s value and chose not to invest, while Barbara also opted out due to the high cost of the product. Lori and Rohan considered collaborating on an offer but eventually decided to pass, leaving only Mark.
Mark proposed a $400,000 investment for a 20% stake in the company and a $400,000 line of credit. Kat countered with a request for $400,000 for a 15% stake in her company, which Mark accepted, resulting in a successful deal between the two.
What Happened to Stasher after Shark Tank?
Kat Nouri’s pitch on the show was met with loud cheers, but she failed to close a deal with Mark following the pitch.
Nonetheless, SC Johnson acquired Kat’s firm in December 2019 for an unknown amount, and within two years of her appearance on the show, it has managed to grow significantly; as of September 2021, the brand has been able to generate $12 million in revenue annually.
Competitors of Stasher
HotelsPro, Farah Experiences, NTUC Club, and Anex Tour are among Stasher’s main competitors.
Net Worth of Stasher
The company was valued at $8 million during the pitch, after the SC Johnson acquisition the company valuation might has been elevated since the company had annual revenue of $12 million in 2021.
Stasher FAQs
What is Stasher?
Stasher is a reusable silicon bag that can be used instead of plastic bags.
Who founded Stasher?
Kat Nouri is the founder of Stasher.
How much was asking on Shark Tank?
Nouri was asking for $400,000 for a 5% ownership of her company, which valued at $8 million.
Did she get the deal?
Yes, she did. She got $400,000 in exchange for 15% equity and a $400,000 line of credit from Mark Cuban; however, the deal never closed after the pitch due to unknown reasons.
Is Stasher still in business?
Yes, it is. The firm had annual revenue of $12 million in 2021, two years after its appearance on the show.
Who are Stasher’s competitors?
HotelsPro, Farah Experiences, NTUC Club, and Anex Tour are among Stasher’s main competitors.
Who bought Stasher?
S.C Johnson acquired the firm in December 2019 for an unknown amount.
Is Stasher AB Corp?
No, Stasher is not affiliated with AB Corp.
Are Stasher bags made in USA?
No, Stasher bags are made in China.
Where is the company Stasher located?
The company is located in California, United States.
Where is Stasher products made?
Stasher bags are made in China.
Why are Stasher bags so expensive?
Stasher bags are expensive because the company does not manufacture them in the USA.
Can Stashers go in the oven?
Yes, Stashers can go in the oven.
How do you get the smell out of a Stasher?
Stashers can be put in the dishwasher.
Can you sanitize in a Stasher bag?
Yes, one can sanitize in a Stasher bag.
How long do silicone bags last?
Silicone bags last for three years.
What is the difference between Stasher and Silicone Bags?
Stashers are made from silicone and can be reused, whilst Silicone bags can only be used once.
How many times can you reuse a silicone bag?
A silicone bag may be reused thousands of times.
How often should Stasher bags be cleaned?
Stasher bags should be cleaned at least once a month to ensure the best level of hygiene.
Is Stasher better than the leading brand plastic bags?
Stasher is the only bag that is completely free from toxic and damaging additives, making it completely safe for use around food.
Is there any health risks associated with using a Stasher bag?
No, there are no known health risks for using Stashers.
Are Stasher bags leak-proof?
Stasher bags are leak-proof, making them 100% leak proof.
Are Stasher bags microwave safe?
Stasher bags are microwaving safe; they can be used in the oven and the dishwasher.
Is Stasher bags dishwasher safe?
Yes, Stashers can go in the dishwasher.
What does Stasher do?
Stasher is an idea to reduce the use of plastic bags by making reusable silicon bags. The company is trying to reduce plastic waste by selling reusable silicone products instead of plastic ones.
What is the net worth of Kat Nouri?
Kat Nouri has a net worth is unknown.
