OogieBear is a company specializing in innovative smart baby care products designed to help babies and children breathe fresh air. The company appeared on Shark Tank Season 14, Episode 1, seeking $400,000 for 5% equity at an $8 million valuation.
OogieBear’s products are crafted from premium soft rubber, making them easy to grip and comfortable for use. They avoid harmful ingredients to ensure the safety of babies. The company has developed various products to assist in baby care, ensuring both effectiveness and safety.
A common issue for babies and children is excessive boogers in the nose, which can obstruct breathing and cause discomfort. OogieBear addresses this with the Baby Booger Picker, which gently removes sticky and dried boogers without causing pain.
The company was founded by Nina Ferzin and her husband Sina Ferzin. Nina initially did not anticipate turning this idea into a business, but by 2022, OogieBear had generated $15 million in gross revenue.
In addition to the Baby Booger Picker, OogieBear offers other products like the Little Mouth, designed for babies aged three months and older. This product functions as a chewable toothbrush, allowing children to clean their teeth while playing. It is made from soft rubber and is USDA-certified organic and non-toxic.
OogieBear’s product line also includes the Oogiebear Chest Rub, bulb aspirator, teething toothbrush, and more. The Baby Booger Picker is available in two versions: Simple and Light, priced at $12.99 and $19.99, respectively. These products can be purchased on the company’s website, as well as through Amazon, Walmart, Buy Buy Baby, Target, and Nordstrom.
| Company Name | Oogie Bear |
| Founder | Sina Farzin and Nina Farzin |
| Founded | 2015 |
| Product | Innovate smart baby care products |
| Asked For | $400k for 5% equity |
| Final Deal | $600k for 10% equity |
| Shark | Barbara Corcoran and Robert Herjavec |
| Episode (Shark Tank USA) | S14 E1 |
| Air Date | Sep 23, 2022 |
| Business Status | In Business |
| Website | Visit Website |
| Headquarters | Rockville, Maryland, US |
| Lifetime Worth (Sales) | $1.5M *estimated |
| Go To Amazon | Buy Now |
| Watch On | Amazon Prime |
Another Shark Tank Pitch
How Was The Shark Tank Pitch Of Oogie Bear?
Husband and wife Sina Farzin and Nina Farzin entered Shark Tank with their business, OogieBear, asking the Sharks for $400,000 for 5% equity at an $8 million valuation. The Sharks were astonished by this high valuation.
Nina shared their business journey, noting that she accidentally became a businesswoman. It was a strong pitch in the first episode of Shark Tank.
The product has a production and landing cost of $2–$4 and is sold for $12.99–$24.99, indicating a high margin. Robert Herjavec commented on the impressive margin.
Kevin O’Leary inquired about sales, and Nina revealed that 1 million units had been sold. The business, started in 2015, had total revenue exceeding $15 million by 2022. This year, the company is on track to make a $1 million profit, with revenue sales at $5.4 million. In 2021, they made $4.5 million, and for 2023, they project $6.5 million in revenue.
Kevin liked the sales performance and offered $400,000 for 10% equity at a $4 million valuation.
Daymond John mentioned that he had no expertise in the baby care category and chose to opt out unless another Shark took the deal.
Lori Greiner noted the presence of a competitor but was intrigued by the business. Nina, a pharmacist, countered that she had not found any similar products in the market and holds both the utility and design patents for the product. It is available on Amazon, contributing to 76% of their sales.
Lori made an offer of $400,000 for 10% equity, contingent on Mark Cuban joining her. Mark agreed to participate if the offer was adjusted to 12%.
Barbara Corcoran was also impressed and made an offer of $400,000 for 10% equity. Nina indicated that this would be their first investment. She also mentioned starting the company with only $22,000.
Robert Herjavec expressed interest in joining Barbara’s offer, and Barbara agreed. Nina countered with a request for $600,000 for 10% equity. Barbara offered an additional $200,000 line of credit, but Nina declined, stating she already had $1 million in cash in the bank. Ultimately, Nina and Sina accepted the deal with Barbara and Robert for $600,000 for 10% equity.
Finalize: Robert & Barbara invested $600K in Oogie Bear for 10% equity.
OogieBear Shark Tank Update
OogieBear, an innovative company founded by Nina Farzin with just $22,000 in 2015, has quickly established itself in the baby care market. By 2022, the company is on track to generate $15 million in revenue.
During their Shark Tank pitch, a survey highlighted that 81% of Americans consider baby boogers a significant problem, underscoring the demand for OogieBear’s products. With few alternatives available, OogieBear’s sales have surged.
To protect their innovative products from imitation, Nina secured both utility and design patents. OogieBear’s baby care products are sold on their website, Amazon, Walmart, Buy Buy Baby, Target, and Nordstrom, with 76% of sales coming through Amazon as of September 2022.
To sustain growth, boosting their own platform rather than relying on third-party sites is crucial. Robert and Barbara, who invested $600,000 for 10% equity, are expected to provide valuable expertise and support.
The company’s current revenue stands at $5.4 million with a profit of $1 million as of September 2022. The entrepreneur projects $6.5 million in revenue for 2023.
On September 27, 2022, Nina shared her Shark Tank experience on OogieBear’s official Instagram account.
Thank you so much for all the outreach that we have received. It was an amazing experience and one we will never forget. We are truly humbled by all the support and love. We can’t wait to start working with Barbara and Robert!
Oogiebear
The company’s growth was further highlighted on May 14, 2023, on the Shark Tank show.
What Is the Net Worth of OogieBear?
OogieBear, a successful and profitable business founded by Nina Farzin in 2015 with an initial investment of $22,000, has achieved significant growth. The company reached $15 million in total revenue within just seven years. Despite its current success and profitability, the entrepreneurs sought help on Shark Tank to further accelerate their growth.
As of now, OogieBear’s estimated worth is approximately $4.5 million. The company’s products are available globally, with Amazon being a major sales platform.
The Booger Picker is particularly popular, receiving 85% of 5-star ratings from buyers for its effectiveness in cleaning boogers from babies’ noses.
In addition to Amazon, OogieBear’s products are also sold on Walmart’s official website, where they have received positive ratings. The company operates from its headquarters in Rockville, Maryland, and employs between 11 to 50 people.
OogieBear’s rapid growth and successful product offerings illustrate its strong market presence and ongoing potential for expansion.
Yes, Oogie Bear is still in business as of April 2024.
