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.
Wisp Broom FAQs
What is Wisp Broom?
Wisp is a broom and dustpan set that can be used for cleaning both indoor and outdoor surfaces.
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.
Did he get the deal?
No, he did not get the deal.
What happened after the show aired?
Lori Greiner contacted him and stated that even if he did not get the money, she’ll still help him.
Is Wisp Broom still in business?
Yes, Wisp Broom is still in business. Their new website is https://www.thewisp.com/
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/
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.