SoaPen Shark Tank Update (Season 13)

SoaPen is a hand-washing soap designed for kids, shaped like a pen to make hand washing fun. With this hand soap pen, children can create different designs on their hands, which encourages them to wash their hands more effectively.

Many kids dislike washing their hands regularly, so parents often have to remind them before meals or after they come in from outside. According to a survey, about 43% of children do not wash their hands properly. This is a common issue since many children are so absorbed in their activities that they forget.

To address this problem, Amanat Anand and Shubham Issar, two women from India, developed SoaPen. This innovative product, resembling a pen, helps children wash their hands thoroughly.

The co-founders appeared on Shark Tank Season 13, Episode 4, seeking $100,000 for 10% equity in their company, valuing it at $1 million.

SoaPen is available in three colors: Tangy Tangerine (Red), Berry Blast (Blue), and Fresh Pear (Green). Each pen contains 33 ml of soap. The formula excludes SLS, parabens, phthalates, and EDTA to ensure it is gentle on children’s soft skin. Ingredients include water, propanediol, cocamidopropyl betaine, and myristamidopropyl PG-dimonium chloride phosphate, among others.

Using SoaPen is simple: children draw on their hands with the pen, rub it with water, and then rinse their hands. The entire process takes 20 to 40 seconds.

SoaPen can be purchased through a subscription model or as a one-time purchase. The one-time purchase price is $17.99, while the subscription model costs $16.19. The soap is available on both Amazon and the company’s website.

Another Shark Tank Pitch

• Flasky Flowers
• TheMagic5

Who Is The Founder Of SoaPen?

Amanat Anand and Shubham Issar, two India-born women, are the co-founders of New York-based SoaPen Inc. Both share a Bachelor of Fine Arts (BFA) educational background and were featured in Forbes’ 30 Under 30 list in 2017.

Amanat Anand

After earning her Bachelor of Fine Arts (BFA) degree from Parsons School of Design, Amanat Anand worked for nine months in production and logistics at ASH NYC. By 2015, she was running SoaPen Inc. alongside her friend Shubham Issar.

Shubham Issar

Shubham Issar, also a BFA graduate from Parsons School of Design, worked as a fabricator at Stand & Build for ten months after completing her degree.

How Was The Shark Tank Pitch Of SoaPen?

Amanat Anand and Shubham Issar entered Shark Tank with their company, SoaPen, seeking $100,000 for 10% equity. They presented their product effectively, and Issar shared that she had come to the USA at the age of 17 to study design.

SoaPen’s lifetime sales stand at $85,000, with the beta version of the product launched in 2019. The company has not yet raised any external funding and has not invested in marketing.

In October 2019, SoaPen was featured in Real Simple Magazine, leading to the sale of all 5,000 units within three weeks.

They raised $225,000 for their first beta version at a $1 million valuation. A three-product pack is priced at $14.99, with a manufacturing cost of $4.30, yielding a profit margin of 40%.

For the past two months, they have been advertising their products on Amazon. Kevin O’Leary felt the company was too early-stage for him and chose to opt out.

Mark Cuban acknowledged the potential but suggested that the product needed better promotion through social media. He decided not to invest and was out.

Robert Herjavec expressed high regard for Anand and Issar but chose not to invest at this time. Lori Greiner also considered the business too early for her and decided to pass.

Nirav Tolia liked the business idea and shared that when pitching to Mark Cuban for his company, Nextdoor, he was treated like any other startup.

Although Tolia believed the business was still at an early stage, he offered $100,000 for 10% equity plus a $1 royalty per unit sold until $200,000 was paid to Anand and Issar. He also mentioned that his wife would assist with the business. Anand and Issar accepted Tolia’s offer.

Finalize: Nirav Tolia Invest $100K in ‘SoaPen’ for 10% equity + a $1 royalty for every unit sold until $200K is paid.

SoaPen Shark Tank Update

Amanat Anand and Shubham Issar did not secure an investment for their company on the Shark Tank stage. However, during an interview outside the studio, Nirav Tolia offered to invest, and both co-founders accepted his offer.

After the episode aired, SoaPen’s soaps quickly sold out. Many people on social media praised the handwash soap as a great product.

Following the increase in sales, the company expanded its production capacity. The product is available on Amazon and continues to perform well.

The company has also launched a new product, the “SoaPen x Potty Training Book Bundle,” priced at $25.

According to a CrunchBase report, on February 8, 2022, during the seed round, investor MassChallenge invested $150,000 in the company.

Although SoaPen’s appearance on Shark Tank was well-received and the sharks provided valuable guidance, evidence of Nirav Tolia formally closing the deal has not been found.

We will continue to follow Amanat Anand and Shubham Issar for further updates on their company.

What Is SoaPen Net Worth?

The company revealed its sales report on Shark Tank, which did not show impressive results after running the business for a considerable time. Based on the sales reports from Shark Tank, SoaPen is estimated to be worth between $100,000 and $300,000.

The handwash soap product has received a rating of 4.2 out of 5 on Amazon, indicating strong customer satisfaction. Many people appreciate the pleasant scent of this product.

SoaPen is available throughout the United States and on the Amazon Global platform. Customers purchasing from Amazon may also receive discounts.

The company, a private manufacturer of handmade soap, is currently headquartered in Brooklyn, New York, United States.

Yes, SoaPen is still in business as of April 2024.