Wisp Broom Shark Tank Net Worth 2023
Wisp Broom Shark Tank Net Worth
During the pitch on Shark Tank, the Wisp Broom company was valued at an impressive $5 million. However, in the years that followed, the company’s fortunes took a turn for the worse.
As of 2021, the company’s net worth had fallen to $1.8 million, a significant decrease from its earlier valuation.
It is not entirely clear what caused the decline in the company’s value. It is possible that increased competition in the broom market led to decreased demand for the Wisp Broom.
Alternatively, the company may have experienced production or distribution issues that affected its bottom line.
Despite the setback, the Wisp Broom company has continued to operate and innovate. They have introduced new products and worked to improve their existing offerings.
While the company has not yet regained its former valuation, it remains a player in the broom industry and continues to seek new opportunities for growth and expansion.
What is Wisp Broom? Who is the founder of Wisp Broom?
The wisp sweeper is a household cleaning tool that simplifies the cleaning process. It combines a broom and dustpan and can be used with one hand, making it convenient for users.
Eben Dobson, the founder of the wisp sweeper, is a motivated and creative inventor and entrepreneur with over two decades of experience in the financial services industry.
His latest entrepreneurial venture aims to improve the efficiency of the floor cleaning industry by introducing the innovative wisp sweeper.
Dobson’s interest in entrepreneurship was sparked when he created a golf etiquette broom with a single-handed sweep and a foot-controlled dustpan for cleaning unwanted sand off greens after bunker shots.
He spent years researching and refining his product, and his efforts paid off when he was invited to appear on popular TV shows such as The View and Good Morning America.
The wisp sweeper features electrostatic bristles that attract dust and pet hair while sweeping away larger debris. The dustpan includes a built-in cleaning comb to remove hair and dust from the broom.
Dobson has spent years perfecting the wisp sweeper to ensure maximum effectiveness, and he is committed to making it a worldwide brand and revolutionizing the cleaning industry.
The wisp sweeper also boasts a telescopic handle that extends over four feet, making it easy to reach difficult areas.
The broom’s bristles are angled 90 degrees to ensure a “clean sweep” every time, and its design allows for movement in small areas.
Dobson’s passion for invention is evident in his previous creation of a unique bristle brush for clearing waste off golf courses, which was approved by the USGA.
The wisp sweeper was designed in 2012, using the same bristles as his golf green brush. It has since become an Amazon top seller and a true advancement in the broom and dustpan industry.
Wisp Broom Shark Tank Pitch
After developing his product, Eben Dobson decided to present it to Shark Tank investors for help with marketing and distribution. He sought $500,000 in exchange for 10% equity in his company, which was valued at $5 million.
During the presentation, Eben showcased his broom and invited Barbara and Lori to try it out, while also distributing samples.
However, the situation became unclear when Eben claimed to have made $3.3 million in lifetime sales, but had invested $2.1 million of his own money in the firm and lost $600,000 in 2017.
The profits on a lifetime basis were only $50,000, and the inventory was valued at $300,000. As a result, Sara declined to invest due to her financial situation, and Mark Cuban, Barbara Corcoran, and Lori Greiner all decided not to pursue the deal.
Kevin O’Leary suggested that Eben required a partner to assist him in making sound business decisions and offered $500,000 in exchange for 50% ownership of the company.
Lori stated that she would assist Kevin in selling the product on QVC if he provided the funds, but she was hesitant to invest due to financial constraints.
However, when Eben continued to speak with Lori, Kevin became irritated and withdrew his offer, causing Eben to exit the pitch without closing a deal.
Despite this setback, Lori contacted Eben after the show aired and offered to help him sell the product on QVC, even though she would not be investing.
Net Worth of Wisp Broom
During the pitch, the company was valued at $5 million. In 2021 the company has a net worth of $1.8 million.
Who is the founder?
Eben Dobson, the founder of the wisp sweeper, is a motivated and creative inventor and entrepreneur with twenty years of experience in the financial services industry.
He contributes long-term ingenuity and cooperation to his latest entrepreneurial venture, and he strives to improve the floor cleaning industry’s efficiency.
How much was Eben asking on Shark Tank?
Eben asked for $500,000 in exchange for 10% stock in his company.
Wisp Broom Shark Tank Update
The Wisp Broom is a broom and dustpan set with a unique design that helps clean floors more efficiently.
The product was featured on Shark Tank in 2018, and although its founder, Eben Dobson, made a pitch and revealed that the company had suffered a loss of $600,000 and was in debt of $2.1 million, none of the sharks made a deal with him.
Despite this setback, the company is still in business and its website is still active, with its products available for purchase online. After the show, Lori Greiner, one of the sharks, called Dobson and expressed interest in the product, although she was unable to invest in the company.
The valuation of the company today is $14 million, and its sales were $3.3 million before it appeared on the show.
Wisp Broom Shark Tank Table Summary:
| TOPIC | INFORMATION |
| Company Name | Wisp Broom |
| Founder | Eben Dobson |
| Product | A household cleaning tool that combines a broom and dustpan and can be used with one hand. It features electrostatic bristles that attract dust and pet hair while sweeping away larger debris, and a telescopic handle that extends over four feet. |
| Shark Tank Pitch | During the pitch, Eben Dobson asked for $500,000 in exchange for 10% equity in the company, which was valued at $5 million. All sharks declined the offer except for Kevin O’Leary, who offered $500,000 for 50% ownership. |
| Net Worth | As of 2021, the company’s net worth is $1.8 million, a significant decrease from its earlier valuation. |
| Update | Despite not securing a deal on Shark Tank, the company continues to operate and innovate. Its products are available for purchase online, and Lori Greiner offered to help Dobson sell the product on QVC after the show aired. |
| Features | Electrostatic bristles that attract dust and pet hair, built-in cleaning comb in dustpan, telescopic handle, angled 90-degree bristles, movement in small areas |
| Shark Tank Outcome | No sharks invested |
| Possible Causes of Decline | Increased competition in the broom market, production or distribution issues |
| Company Status | Still operating and seeking new opportunities for growth and expansion |
Wisp Broom FAQs
What Happened To Wisp Broom After Shark Tank?
Wisp Broom is a broom and dustpan set with a unique design that helps clean floors more efficiently. The product appeared on Shark Tank, a popular TV show, in 2018.
The founder, Eben Dobson, made a deal with investor Lori Greiner for $100,000 in exchange for a 33.3% stake in the business. However, during the pitch, Dobson revealed that the company had suffered a significant loss of over $600,000 due to his own personal financial decisions.
The sharks were impressed with the product and the sales to date, which were $3.3 million until they found out about the company’s debt of $2.1 million and 22 investors. None of the sharks made a deal with Dobson.
After the show, Lori Greiner offered to display the product on her show QVC. The valuation of the company today is $14 million, and the sales were $3.3 million before it appeared on the show. Wisp Broom has received generally positive reviews for its effectiveness and ease of use.
The company is still in business and has sold over 100,000 units over the lifetime of the business, making over $3.5 million in sales.
How Much Revenue Has Wisp Broom Generated Since Appearing On Shark Tank?
As of September 2022, Wisp Broom has an annual revenue of $7 million. During the Shark Tank episode where Wisp Broom was featured, the founder, Eben Dobson, had $3.3 million in lifetime sales. However, it is unclear how much revenue Wisp Broom has generated since appearing on Shark Tank.
Another source mentions that as of the Shark Tank episode, Wisp Broom had made over $3.5 million in sales and sold over 100,000 units over the lifetime of the business. However, there is no information on the revenue generated by Wisp Broom after appearing on Shark Tank.
Therefore, the exact revenue generated by Wisp Broom since appearing on Shark Tank cannot be determined. Nonetheless, the company has experienced significant growth since appearing on the show, with annual revenue reaching $7 million as of September 2022.
What Is The Story Behind Wisp Broom’s Success?
The Wisp Broom’s success is due to its unique design and innovative features, including a patented bristle design that uses electrostatic energy to attract and trap dirt and debris. The broom has a combination of soft and stiff bristles that can pick up both large and small particles.
It also has a telescoping handle that can be adjusted to different heights, making it easier to use for people of different heights.
The company’s founder, Eben Dobson, made a deal with investor Lori Greiner on Shark Tank in 2017, resulting in a $100,000 investment for a 33.3% stake in the business.
Since then, the company has continued to sell its products online and through other retailers and has even created a handheld version of the product called the miniWISP.
Despite a decline in net worth in recent years, Wisp Broom has continued to operate and innovate by introducing new products and improving existing offerings.
The founder’s life experience and ambition to make sweeping easier and more efficient for every generation have also contributed to the company’s success.
Has Wisp Broom Expanded Its Product Line Since Appearing On Shark Tank?
Wisp Broom has expanded its product line since appearing on Shark Tank. The company now sells not only its original broom and dustpan set online and through various retailers but also a mini Wisp broom and a Wisp cleaning kit.
The mini Wisp broom is a smaller version of the original broom and is designed for use in smaller spaces, such as RVs or boats. The Wisp cleaning kit includes the original broom and dustpan set, as well as a hand broom and dustpan set, a microfiber cleaning cloth, and a storage bag.
What Was Lori Greiner’s Involvement with the WISP after Shark Tank
After the Shark Tank episode featuring the WISP broom, Lori Greiner called the company to express her interest in the product.
Although she was unable to invest in the company, she offered to help spread the word about the product and set up a relationship with WISP via QVC. As of May 2022, the WISP broom has developed an estimated net worth of over $14 million.
Did Wisp Broom Get The Deal?
Wisp Broom appeared on Shark Tank in 2017, seeking an investment of $50,000 for a 10% share of the company. While no financial deal was made, Lori Greiner, one of the investors on the show, offered to display the product on her show QVC.
The valuation of the company during the pitch was $5 million, and the sales were $3.3 million before it appeared on the show. As of 2021, the company’s net worth had fallen to $1.8 million, a significant decrease from its earlier valuation.
Despite the setback, the Wisp Broom Company has continued to operate and innovate, introducing new products and working to improve its existing offerings.
It appears that Lori Greiner went above and beyond to help promote the product for Eben and his company. The Wisp Broom is still in business, and Lori Greiner is expected to demonstrate WISP products on QVC soon. The company’s estimated net worth is over $14 million today.
Is Wisp Broom Still In Business?
Yes, Wisp Broom is still in business. The company was founded by Eben Dobson in 2012, and it offers a broom and dustpan set with a unique design that helps clean floors more efficiently.
The product appeared on Shark Tank in 2017, and its founder made a deal with investor Lori Greiner for $100,000 in exchange for a 33.3% stake in the business.
While Lori Greiner cannot invest in the company, she wanted to help spread the word about the product. Since the show, Wisp Broom has continued to sell its products online and through various retailers.
The company has sold over 100,000 units over the lifetime of the business, bringing in a total revenue greater than $3.5 million.
However, the company was struggling to find profits annually, and Dobson reported losing more than $600,000 over the past years in losses due to his own personal financial decisions relating to the company.
Despite this setback, the Wisp Broom Company has continued to operate and innovate. They have introduced new products and worked to improve their existing offerings.
Wisp Broom has received generally positive reviews for its effectiveness and ease of use. The company has also expanded its product line to include other cleaning tools, such as a hand broom and a pet hair remover.
While the company has not yet regained its former valuation, it remains a player in the broom industry and continues to seek new opportunities for growth and expansion.
What about the Shark Tank Effect?
After appearing on Shark Tank, many people started to go online to search for wisp broom and now the sales have gone up.
How to buy Wisp Broom?
Customers can buy Wisp Broom by going to the official website or on Amazon.
Official Website: https://www.thewisp.com/
Amazon: https://www.amazon.
What are the main features of Wisp Broom?
The Wisp Broom has electrostatic bristles with a one-handed sweep, a telescopic handle that reaches four feet, and a built-in cleaning compass.
The telescoping handle pulls the tool to wherever you need it to go.
How large is the dustpan?
The dustpan measures 7 inches by 6 inches when folded.
How do I pay?
Customers can pay either in store or using the website.
Where is Wisp manufactured?
It is manufactured in the USA.
Is Wisp Broom accepting PayPal?
Yes, Wisp Broom accepts PayPal.
What is Wisp Broom marketing strategy?
Some businesses are using social media to market their products.
What are the strengths of Wisp Broom?
The Wisp Broom has durability, a unique design and the ability to clean small areas.
What are the weaknesses of Wisp Broom?
The weakness is that it cannot clean large area.
What is the net worth of Eben Dobson?
Eben Dobson’s net worth is unknown.
