You Smell Soap Shark Tank Update | You Smell Soap after Shark Tank

What is You Smell Soap?

You Smell Soap is a premium soap brand that uses only organic ingredients, including fragrances such as Lemon Verbena and Lavender Mint, which are infused with vitamins.

The company also offers a paper wipe for on-the-go freshening.

The founder, Megan Cummings, holds a B.F.A in graphic design and has experience in the field, launching her own design company and You Smell Soap in 2011, which was in business for 3.5 years.

Megan now dedicates her time to working with animal shelters and a side venture, Downloads That Donate.

Who is the founder of You Smell Soap?

Megan Cummings, the founder of the company, graduated from Savannah College of Art and Design with a B.F.A in graphic design.

After working at various design jobs, she established her own design firm and launched You Smell in 2011, which remained in business for 3.5 years.

Currently, Megan works for animal shelters through her firm and a side project called Downloads That Donate.

You Smell Soap started as a college project in creative packaging and presentation, and she hopes to turn it into a successful business with the help of a Shark deal.

Megan and her fiancé are working full-time jobs to fund the business, and she aspires to eventually quit her job as a graphic designer to pursue her passion for soap making full-time.

What Happened to You Smell Soap at Shark Tank pitch?

Cummings appeared on Shark Tank to pitch her new scent-based company, and requested a $55,000 investment in exchange for a 20% stake in her pre-venture firm, which was valued at $275,000.

She provided samples of her first two scents, lemon and lavender mint, and revealed that she had already distributed 1,200 bars to several retailers, where they sold for $7 to $12 each.

Despite interest from retailers like Urban Outfitters to reorder, some Sharks were hesitant due to lack of sales figures.

Mark Cuban expressed interest in her perseverance, and offered $55,000 for a 20% stake in the company.

Barbara Corcoran also made an offer of $55,000 for a 40% stake and a royalty on every bar sold, but Robert Herjavec ultimately sealed the deal with an offer of $55,000 for 20% equity and an additional $50,000 for Cummings to dedicate more time to the company.

Cummings accepted Robert Herjavec’s offer and left the pitch with a Shark deal.

What Happened to You Smell Soap after Shark Tank?

Megan Cummings, the owner of a pre-venture firm, made a deal with Robert Herjavec to sell 50% of her company on air, but did not receive the money.

Herjavec made a second offer, but Cummings declined.

The failed transaction caused a media scandal for Herjavec, who offered an explanation of the due diligence process, but it was seen as inadequate.

Despite this, Cummings continued to grow her business. She and her fiancé fully invested in the “You Smell Company,” which was sold to an unnamed investor in 2014, but went out of business in 2016.

She then created Sparkle Pop, a fashion jewelry company, which was successful for a few years before shutting it down in 2019.

In 2017, Cummings started “Downloads that Donate,” an online store that donates a portion of profits to no-kill animal shelters.

Additionally, she has owned and operated Megan Cummings Designs, a contract design business, since 2007.

Net Worth of You Smell Soap

The company was valued at $275,000. Since then, the company has been selling their products, which may have caused the company’s net worth to increase in 2021.

You Smell Soap FAQs

What is You Smell Soap?

You Smell Soap are an all-natural glycerin soap made from goat milk. The bars are infused with natural essential oils to create a rich and creamy lather, and each product is scent.

Who is the founder?

Megan Cummings is the founder of You Smell Soap. She graduated from Savannah College of Art and Design with a B.F.A in graphic design.

She worked at a handful of design jobs before establishing her own design firm and concurrently launching You Smell in 2011.

How much was asking on Shark Tank?

She was asking for $55,000 for a 20% equity stake in exchange for funding and assistance with scaling the business.

How much did she get on Shark Tank?

Mr. Mark Cuban made a bid for $55,000 for a 20% stake in the company, which she accepted on the air. But they never closed deal, because they could not reach a contractual agreement.

Is You Smell Soap still in business?

Yes, the business is still in operation.

Does You Smell Soap offer any discounts?

Yes, You Smell Soap has a number of deals and discounts running throughout the year. For example, there is currently a free shipping offer on all online purchases, as well as a sale price for Megan Cummings Designs jewelry.

What’s the net worth of You Smell Soap?

The net worth of You Smell Soap is estimated to be $275,000 during the pitch.

How do you use You Smell Soap?

You Smell Soap’s website suggests using the product in the shower or bath, usage varies from customer to customer according to their needs.

How do I pay for You Smell Soap?

You can pay for You Smell Soap on the website with a credit card or PayPal, if you prefer more traditional payment methods checks, money orders and even cash are accepted.

How did You Smell Soap start?

You Smell Soap were born in Megan Cummings’s Savannah, Georgia, studio in 2011.

What is the future plan of You Smell Soap?

Cummings is planning to get her products into brick and mortar retail stores as well as grocery stores. Cummings also hopes to begin producing personal care products, such as beauty creams and deodorants that work with the bars.

Who is sponsoring You Smell Soap?

You Smell Soap have received financing from a variety of sources including Megan’s fiancé, family members and friends.

Most of the company’s revenue has been generated by additional product sales on the You Smell website.

What is the net worth of Megan Cummings?

The net worth of Megan Cummings is $1.2 million.