📊 Company Information
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Afresheet Net Worth
AfreSHeet was valued at approximately $500,000 when Maxwell pitched in 2015. Despite receiving no deal, the company successfully raised $2.57 million in funding and rebranded to Peel Away Labs. With approximately $500,000-$1 million in annual revenue by 2023, estimated net worth is approximately $3-4 million. The rejection proved beneficial, allowing Cohen complete control and directing growth toward institutional healthcare markets.
Maxwell Cohen pitched AfreSHeet on Shark Tank Season 7 in November 2015, seeking $100,000 for 20% equity. AfreSHeet is a revolutionary bedsheet with seven peel-away disposable layers—when one layer gets dirty, you simply peel it off to reveal a fresh, clean layer underneath without washing.
Cohen developed the product while a student at the University of Arizona, frustrated that dorm students rarely washed their sheets. Each AfreSHeet set costs $29.95 and comes in twin and twin XL sizes.
The sheets are waterproof, made from a proprietary blend of polyester, rayon, and bamboo, and completely recyclable. Designed for college dorms, summer camps, hospitals, and cruise ships, the product promised convenience and reduced water/energy consumption.
All five sharks rejected the deal. Robert saw market potential but questioned why sales were so low. Kevin O’Leary criticized the concept harshly. Lori Greiner complained that the material felt uncomfortable, like paper.
Daymond John didn’t believe in the concept. Mark Cuban felt Cohen was still finding his way. Despite the rejection, Cohen received praise from Martha Stewart and Good Housekeeping magazine.
Against all odds, AfreSHeet thrived post-show. Cohen rebranded the company to Peel Away Labs in 2017 and expanded product lines, including DORM-A-PEEL, CAMP-A-PEEL, and CRIB-A-PEEL in seven sizes from crib to king.
He secured approximately $2.57 million in angel and venture capital funding. Major retailers, including Bed Bath & Beyond, buybuy BABY, and Amazon, began carrying the products. International demand boomed, particularly from healthcare facilities in developing countries seeking water-saving solutions.
As of 2023, the company generates approximately $500,000 to $1 million in annual revenue with strong institutional demand, particularly from hospitals and healthcare facilities worldwide focused on sustainability.
