Better Life Shark Tank Update | Better Life Net Worth

Better Life, which was featured on Season 7 of Shark Tank, is a company specializing in producing environmentally friendly cleaning products. Their impressive range includes all-purpose cleaners, dish soap, laundry detergent, and floor cleaners.

Better Life’s unique selling point is its commitment to developing environmentally friendly and safe products.

The Better Life cleaning product line is made from plant-derived ingredients, void of harsh chemicals such as synthetic fragrances, sulfates, and petroleum solvents. This creates a healthier environment for users and reduces the ecosystem’s impact.

The products are also biodegradable, contributing to less pollution and waste in the environment. Moreover, Better Life doesn’t test its products on animals, further underlining its dedication to ethical and responsible business practices.

Better Life’s product line is known for its effectiveness. These cleaning products are reported to work just as well as traditional ones, if not better. The lack of harmful ingredients makes them great for those seeking effective cleaning solutions.

Better Life is a compelling choice for anyone looking for cleaning products. Its strong commitment to environmentally friendly and ethically sound practices, coupled with the effectiveness of its product line, offers a guilt-free cleaning experience.

Consumers can enjoy a clean home or workspace by choosing Better Life while contributing to a healthier planet.

What Is Better Life?

Better Life is a brand that offers a range of cleaning products, including all-purpose cleaners, toilet bowl cleaners, glass cleaners, and tub and tile cleaners. Their products are designed to clean various surfaces without using harsh chemicals effectively.

Better Life’s cleaning products are made with biodegradable ingredients that are gentle on the planet. They prioritize using plant-based and sustainable ingredients to create effective cleaning solutions.

Better Life products are free from harmful chemicals like sulfates, parabens, and synthetic fragrances, making them a safer option for your home and the environment.

The products are specially formulated for cleaning tasks, such as removing spills, grease, dirt, and everyday messes. Better Life offers a range of scents, allowing you to choose the fragrance that suits your preference.

In addition to their commitment to creating eco-friendly products, Better Life also focuses on providing value to customers. Their products often come in larger sizes or multi-packs, offering more products for your money.

Better Life is a brand that combines effective cleaning power with a commitment to sustainability and focuses on creating safer alternatives to traditional cleaning products.

Who Is The Founder Of Better Life?

Better Life was founded by lifelong friends Tim Barklage and Kevin Tibbs. Barklage, the CEO, comes from a business background, while Tibbs, the company’s Chief Formulator, brings a wealth of knowledge from his formulation and product development background.

The idea for Better Life was conceived when Barklage, as a new father, became concerned about the potentially harmful chemicals contained in household cleaning products.

His children’s safety was paramount, so he turned to Tibbs, who has a background in formulating skin and hair care products, to help devise safer cleaning solutions.

Tibbs was also interested in environmental safety, so their goals aligned perfectly. Their goal was to create cleaning products that were safe for their families and had minimal environmental impact.

They dedicated themselves to developing formulas that did not compromise on cleaning power while using plant-derived ingredients instead of harsh chemicals. This resulted in a safer product for humans and a safer product for the environment due to its biodegradability.

Before appearing on Shark Tank, Better Life had already made strides in the cleaning products market. Their products were being sold online and in several retail stores nationwide.

They had already developed various products, including all-purpose cleaners, dish soap, and laundry detergent. However, despite their initial success, they sought the platform of Shark Tank to help their business grow further.

Their appearance on Shark Tank brought more attention to their company and its mission and significantly increased sales. This platform allowed them to further their goals of creating safer cleaning solutions for families and the environment.

How Was The Shark Tank Pitch Of Better Life?

Better Life’s presentation on Shark Tank was led by the founders Tim Barklage and Kevin Tibbs. They sought a $400,000 investment in exchange for a 7% stake in their company, valuing Better Life at over $5.7 million.

They started the pitch by expressing their concern about traditional cleaning products’ harmful chemicals and how they inspired them to develop safer, more eco-friendly alternatives.

Demonstrating the effectiveness of their products, they even staged a live demonstration where Tibbs sprayed some of the all-purpose cleaners into his mouth to emphasize its safety.

The Sharks were visibly impressed by the product’s effectiveness and Barklage and Tibbs’s commitment to creating environmentally friendly cleaning solutions.

However, some Sharks expressed concern about the company’s valuation, and others were worried about the competitiveness of the cleaning products market. 

Despite these concerns, the Better Life pitch intrigued Lori Greiner and Kevin O’Leary. Both were impressed by the effectiveness of the cleaning products and the mission behind the company.

Lori Greiner, known for her success in retail products, saw the potential for Better Life in the market and was interested in aiding its expansion.

Kevin O’Leary, also known as “Mr. Wonderful,” was drawn by the company’s strong sales and potential for growth.

The final deal was struck with Lori Greiner. She offered $400,000 but for a 17% stake, more than double what the founders had initially offered.

Despite the higher equity stake, Barklage and Tibbs accepted the deal, recognizing the value that Greiner’s expertise and connections could bring to Better Life.

The founders left the Shark Tank with a substantial investment and a powerful business partner, ready to take their company to new heights.

Final Deal: Lori Greiner agreed to invest $400,000 For 17% equity in Better Life.

What Happened To ​​Better Life After Shark Tank?

After securing a deal with Lori Greiner on Shark Tank, Better Life saw a significant brand recognition and sales boost. The Shark Tank exposure raised considerable awareness about the company’s commitment to providing eco-friendly and natural cleaning solutions, which resonated with a broad audience. 

The investment and mentorship from Lori enabled the founders, Tim Barklage and Kevin Tibbs, to continue expanding their product range and improve their formulations.

They remained focused on their mission, prioritizing creating new, high-quality products aligned with their environmentally conscious philosophy. 

The post-Shark Tank period also saw Better Life products becoming more accessible to customers, both online and in physical stores, such as Target, HSN/QVC, Amazon, and Walmart.

The partnership with Lori led to key distribution and sales agreements with major retailers in the United States, improving Better Life’s global footprint, including regions like Bermuda, Canada, the European Union, and Korea.

Positive customer feedback and reviews continued to pour in, praising the products’ effectiveness and safety. Better Life also partnered with like-minded environmentally conscious organizations to amplify their mission of promoting eco-friendly and sustainable practices.

They even updated their manufacturing plant to utilize solar panels, reducing their carbon footprint and showcasing their dedication to sustainability.

In a major development, Better Life was acquired by Bissel, Inc. in 2018, although the transaction details were not disclosed. This acquisition did not hinder the company’s progress, as Better Life continued to grow and profit.

By 2023, their annual sales reached $5 million, a testament to their increasing popularity and successful business strategies. Better Life also revamped its packaging, introduced new products, and rebuilt its e-commerce site to improve customer experience.

The company’s valuation rose from $1 million at its Shark Tank appearance to a net worth of $5 million in 2023, showcasing the significant growth and success it enjoyed after its Shark Tank journey.

Better Life Shark Tank Update

After their appearance on Shark Tank, Better Life Cleaning Products, founded by Kevin Tibbs and Tim Barklage, experienced a remarkable journey. They presented their natural cleaning alternatives, seeking $400,000 for a 7% stake, valuing the company at $5.7 million.

Better Life plant-based, environmentally friendly products gained significant attention, leading to offers from sharks like Lori, John Paul DeJoria, Daymond, and Mark. Eventually, Lori’s offer of $400,000 for a 17% stake was accepted.

Following their Shark Tank success, Better Life thrived. Their manufacturing doubled, resulting in increased employee hires and secured retail contracts. In a major move, Bissell, Inc. acquired the company in 2018.

Despite the acquisition, Better Life flourished, boasting annual sales of $5 million as of August 2021. Their biodegradable formulas, utilizing ingredients like soap bark, maize, and coconut, resonated with consumers looking for effective and safe cleaning options.

Moreover, Better Life’s commitment to sustainability shone through. They embraced recyclable packaging, eschewed animal testing, and even employed solar panels at their manufacturing plant to reduce their carbon footprint.

This dedication aligned with their ethos of providing cleaning solutions gentle on both people and the environment.

In a dynamic market, Better Life expanded its distribution, revamped packaging, introduced new products such as Better Life Tub and Tile Cleaner, and rebuilt its e-commerce site. This strategic approach ensured their continued growth and customer satisfaction.

As of 2023, Better Life’s net worth stood at $5 million, a significant jump from its valuation of $1 million during its Shark Tank appearance.

This journey exemplifies how a successful appearance on Shark Tank, with products and a commitment to values, can lead to substantial growth and lasting success.

Is Better Life Still In Business?

Our research shows that Better Life is still in business. They continue to provide reliable protection through their life insurance and annuity offerings.

Better Life focuses on crafting plans tailored to individual budgets and needs, offering various types of insurance coverage, including Term Life Insurance, Universal Life Insurance, Whole Life Insurance, Final Expense Insurance, and annuities for guaranteed retirement income.

Their commitment to a member-focused approach, friendly service, and community engagement remains strong.

The company emphasizes exclusive benefits, community support, and tools like Coverage Comparison and Life Insurance Calculator to aid customers in making informed decisions about their life insurance needs.

What Is the Net Worth Of Better Life?

According to our research, the net worth of Better Life is estimated to be $5 million. The valuation of Better Life was $2.35 million after securing an investment from Lori Greiner on Shark Tank.

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