DrainWig Shark Tank Update | DrainWig Net Worth

DrainWig is a product featured on Season 9 of the popular television show Shark Tank. Its primary function is to prevent hair from clogging up your drains, a common issue in households, particularly those with residents who have long hair.

This hair-catching solution can be used in bathroom sinks, showers, and bathtubs, effectively reducing the instances of blocked drains and saving users from the often messy task of unclogging them.

The DrainWig consists of a stainless steel chain and rubber whiskers. The top part of the DrainWig stays on the top of the drain, and the rest extends into the drain pipe.

DrainWig is excellent for maintaining clean and clog-free drains. Its innovative design, ease of use, and cost-effectiveness make it a popular choice among consumers, likely contributing to its presentation on the widely viewed platform Shark Tank.

DrainWig demonstrates how simple, well-executed ideas can significantly impact everyday living by tackling a common household issue.

Company NameDrainWig
EntrepreneurGifford Briggs and Jennifer Briggs
ProductDrain Plug That Catches Hair
Investment Asking For$300,000 For 5% equity in Drain Wig
Final Deal$300,000 For 15% equity in Drain Wig
SharkKevin O’Leary
Episode Season 9, Episode 6
Business StatusIn Business
WebsiteDrainWig Website
Net Worth$2.5 Million

What Is Drain Wig?

DrainWig is an extraordinary innovation designed to tackle the persistent issue of hair-clogging drains. It is a hair catcher specifically created for bathtubs, a revolutionary solution for residential homes and hotels where tangled hair often leads to blocked drains.

Interestingly, DrainWig provides a hygienic way of catching and disposing of hair, thanks to its wholly disposable design.

The creator of DrainWig, The Briggs, introduced it to provide a less repugnant and chemical-free method of clearing hair from drains, as collected hair is acknowledged as the leading cause of drain clogs in bathrooms. As a disposable product, DrainWig clears clogged drains without necessitating harmful chemicals.

DrainWig Shark Tank Update | DrainWig Net Worth

DrainWig was inspired by a usual household problem, leading to the creation of DrainWig, which effectively traps hair for over two months. What makes it even more remarkable is its ease of disposal after use.

The DrainWig is cost-effective to manufacture, potentially rendering profitable returns for professional drain un-cloggers.

Retail giants like Walmart and Walgreens are among the well-known multinational vendors of this clever gadget. DrainWig is a non-invasive device that does not depend on chemicals to unclog bathroom drains, making it a suitable choice for users everywhere.

Headquartered in Salem, UT, Drainwig is recognized for its drain-clog preventer. Its product, a steel chain designed to hang inside the drain, successfully captures hair that usually leads to a blockage.

Jennifer and Gifford Briggs, the brains behind this ingenious creation, brought DrainWig to the limelight when they appeared on Shark Tank in its 9th season.

Who Is The Founder Of Drain Wig?

DrainWig was founded by Jennifer and Gifford Briggs. The couple, based in Utah, have five daughters, which indirectly inspired the creation of the DrainWig. Living in a household with so many long-haired individuals, they often had to deal with clogged drains in their showers and bathroom sinks. This led them to conceive the idea of the DrainWig.

Jennifer Briggs was a stay-at-home mom with no formal background in business or invention, but she was driven by the necessity of solving this common household problem.

On the other hand, Gifford Briggs was a businessman with experience in sales and marketing. Together, they managed to turn a simple idea into a profitable business. 

The conception of DrainWig started from a home necessity and frustration. Jennifer was tired of constantly having to remove hair from their clogged drains.

She knew there had to be a simpler solution than hiring a plumber or using harmful chemicals. With this problem in mind, Jennifer envisioned a device that would catch the hair before it became a clog. And thus, the idea of DrainWig was born.

Before appearing on Shark Tank, the Briggs ran DrainWig as a home-based business. They had started selling their product online, gaining traction because of its effectiveness and simplicity.

They had also managed to get DrainWig into several major retail outlets. Despite their early success, they realized they needed more capital and strategic partnerships to take their business to the next level.

Hence, they decided to pitch their product on Shark Tank, which provides such opportunities to promising businesses. Their appearance on the show offered wider exposure to DrainWig and contributed significantly to their growing success.

How Was The Shark Tank Pitch Of Drain Wig?

Jennifer and Gifford Briggs, the creators of DrainWig, entered the Shark Tank with a clear and compelling presentation of their problem-solving product.

With a demonstrated understanding of their target market, the Briggs identified a common issue, i.e., hair clogging drains, and showed how their product effectively addressed this problem.

They initially asked the Sharks for an investment of $300,000 in exchange for 5% equity in their business. As per the text, they were under a poor licensing deal stifling their profit margin and hoped to leverage the Sharks’ experience and resources to break free from it.

The Sharks had mixed views about the product. Mark Cuban decided to drop out early, believing that the work required to extract the business from the existing licensing deal was too much.

Guest shark Sara Blakely was impressed with the Briggs and felt they could manage the situation without her involvement. She also didn’t want to dilute Briggs’ shares further, leading her to drop out.

Both Daymond John and Lori Greiner liked the product, and each matched Kevin O’Leary’s offer of $300,000 for a 25% stake in the business. The Briggs, however, countered with $300,000 for 10% equity. They further negotiated $300,000 for 15% equity when this wasn’t accepted.

Sensing an opportunity, Kevin O’Leary cut off Daymond and accepted the deal. His belief in the product and his commitment to being the “nasty” friend they needed to confront their licensing issues played a part in his decision to invest.

Following the Shark Tank appearance, DrainWig has seen considerable success. The Briggs got out of their unfavorable licensing deal, and the product is now available on multiple platforms, including Amazon, their website, Bed Bath and Beyond, and Walmart.

Moreover, they’ve expanded their line to include various styles, demonstrating a commitment to growth and product development. Kevin O’Leary has continued endorsing the product, validating his faith in Briggs’ idea and investment.

Final Deal: Kevin O’Leary agreed to invest $300,000 for a 15% stake in DrainWig.

What Happened To Drain Wig After Shark Tank?

After their appearance on Shark Tank and securing a deal with Kevin O’Leary, DrainWig experienced significant success. First and foremost, they could exit the unfavorable licensing agreement they were stuck in before the show.

This move resulted in a substantial increase in their profit margin, giving them the financial strength they needed to scale the business. DrainWig also expanded its product line, adding new styles and designs to cater to a broader market.

The DrainWig became available on multiple retail platforms, including Amazon, Bed Bath, Beyond, and Walmart, significantly increasing their product’s visibility and availability to consumers.

DrainWig Shark Tank Update | DrainWig Net Worth

The Shark Tank exposure, coupled with O’Leary’s endorsement and ongoing support, helped boost the product’s credibility and awareness among consumers. This led to an increased customer base and, consequently, more sales.

Appearing on Shark Tank helped DrainWig transform from a home-based business into a recognized brand with a strong market presence.

With its continued growth and innovative approach to solving a common problem, DrainWig appears to have fully leveraged its Shark Tank opportunity. As of this update, they continue to enjoy the fruits of their hard work and strategic partnership with Kevin O’Leary.

DrainWig Shark Tank Update

After appearing on Shark Tank, DrainWig, a device designed to catch hair that clogs drains, experienced both challenges and successes. The product, pitched by Jennifer and Gifford Briggs, initially sought a $300,000 investment for a 5% equity stake in the show.

Kevin O’Leary made a deal with the couple, providing $300,000 in exchange for a 15% stake in DrainWig. Following their appearance on Shark Tank, DrainWig faced some difficulties.

The Briggs signed an unfavorable deal with an infomercial company, leading them to seek Kevin O’Leary’s help. With his assistance, they could rectify the situation and continue their business.

DrainWig has expanded its product line and received ongoing support from O’Leary. Despite the challenges, DrainWig has thrived since its appearance on Shark Tank. The product has achieved impressive sales figures, generating $14.2 million in revenue.

It has gained popularity and is available at major retailers like Amazon, Bed Bath and Beyond, and Walmart. DrainWig is appreciated for its effectiveness, affordability, and low-maintenance nature in addressing clogged drains and removing hair clumps. It continues to receive positive reviews on platforms like Amazon.

DrainWig encountered challenges but overcame them with Kevin O’Leary’s assistance. The product has expanded its line, experienced significant sales, and gained availability at major retailers.

DrainWig thrives and receives positive reviews, contributing to its ongoing success.

Is DrainWig Still In Business?

Yes, DrainWig is still in business. After appearing on Shark Tank, DrainWig experienced ongoing success and growth with the guidance of Kevin O’Leary. O’Leary made a deal with Jennifer and Gifford Briggs, the creators of DrainWig, investing $300,000 for a stake in the company.

DrainWig has expanded its product line and is available on various platforms, including Amazon, Bed Bath & Beyond, and Walmart. The product continues to receive positive reviews.

DrainWig is appreciated for its effectiveness, affordability, and low-maintenance nature in addressing clogged drains and removing hair clumps. The company has maintained its presence in the market and is actively selling its products.

What Is the Net Worth of DrainWig?

According to our research, the net worth of DrainWig is estimated to be $2.5 million. The valuation of DrainWig was $2 million after securing a deal from Kevin O’Leary on Shark Tank.

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