Mad Rabbit is a tattoo aftercare product company that appeared on Season 12 of Shark Tank. Founded by Oliver Zak and Selom Agbitor in 2019, the California-based company offers a range of products specifically designed to maintain the vibrancy and longevity of tattoos.
Oliver Zak created Mad Rabbit after he was advised to use petroleum jelly for healing after getting his first tattoo. The recommendation caused a problem since petroleum jelly, made of different acids and chemicals, often causes side effects and traps moisture and bacteria, inhibiting proper tattoo healing.
Observing the market’s lack of alternatives, Zak and Agbitor began experimenting with plant-based balms, eventually creating the brand’s first product, a chemical-free tattoo balm.
The Mad Rabbit tattoo balm contains all-natural ingredients like Shea butter, cocoa butter, beeswax, calendula, almond, lavender, cucumber, and Frankincense. Its USP lies in its capability to keep the tattoo fresh, bright, and new.
Post their appearance on Shark Tank, the product portfolio expanded to include a Tattoo Balm Stick, Mini Daily Lotion, Soothing Gel, SPF 30 Sunscreen & Daily Body Wash. The chemical-free products protect tattoos from dust, damage, and harmful environmental factors.
Mad Rabbit’s competitive advantage comes not only from its natural ingredients but also from its brilliant marketing strategies. It taps into the burgeoning tattoo industry valued at over $3 billion, effectively reaching its target audience through social media and influencer marketing.
Furthermore, its subscription model and robust community of 90,000 followers on Instagram add to its appeal. Mad Rabbit’s commitment to natural and superior products for tattoo care, its strong market presence, and impressive sales figures make it a smart choice for anyone seeking to maintain their body art.
|Company Name||Mad Rabbit|
|Entrepreneur||Oliver Zak and Selom Agbitor|
|Product / Business||The best tattoo aftercare lotion to prevent tattoo fading|
|Investment Asking For||$500,000 for 5% equity in Mad Rabbit|
|Final Deal||$500,000 for 12% equity in Mad Rabbit|
|Mad Rabbit Episode||Season 12, Episode 18|
|Mad Rabbit Business Status||In Business|
|Mad Rabbit Website||Visit Website|
|Mad Rabbit’s Net Worth||$8 Million|
What Is Mad Rabbit?
Mad Rabbit is a brand that specializes in tattoo aftercare products. They offer a range of products, such as tattoo balms, creams, and oils that help protect and heal tattoos.
Mad Rabbit products are designed to moisturize the skin, reduce inflammation, and promote faster healing of tattoos. Mad Rabbit is known for its high-quality and all-natural tattoo aftercare products.
Here are some more details about the Mad Rabbit:
- Product Range: Mad Rabbit offers a variety of tattoo aftercare products, including balms, creams, and oils. These products are specifically formulated to nourish and protect the skin after getting a tattoo.
- Ingredients: Mad Rabbit products are made from natural ingredients to ensure gentle and effective tattoo care. Common ingredients in their products include shea butter, coconut oil, beeswax, jojoba oil, and essential oils.
- Benefits: Mad Rabbit products can provide several benefits for tattoo aftercare. These include moisturizing the skin, reducing redness and inflammation, promoting faster healing, and enhancing the vibrancy of the tattoo.
- Application: Mad Rabbit products are easy to use. You can apply a thin layer of balm, cream, or oil to the tattooed area. Gently massage it into the skin until fully absorbed. Applying the product multiple times daily during the initial healing period is recommended.
- Vegan and Cruelty-Free: Mad Rabbit is committed to ethical practices and offers vegan and cruelty-free products. They do not test their products on animals and ensure no animal-derived ingredients are used in their formulations.
- Customer Reviews: Mad Rabbit has received positive reviews from customers using their products. Many customers appreciate the effectiveness of the products in soothing and protecting their tattoos.
Who Is The Founder Of Mad Rabbit?
Mad Rabbit, a notable brand in the tattoo aftercare industry, was founded by Oliver Zak and Selom Agbitor, two university graduates. Both founders share a passion for tattoos, an interest that played a critical role in the conception of Mad Rabbit.
Oliver Zak, a Miami University graduate, conceived the idea for the product following his first tattoo experience. His tattoo artist had recommended using petroleum jelly for aftercare, a suggestion Zak found surprisingly inadequate, considering petroleum jelly could potentially delay healing by clogging skin pores.
Realizing that there was a need for a specialized aftercare product for tattoos, he brought this concern to his friend and fellow Miami University graduate, Selom Agbitor.
Their shared enthusiasm for tattoos turned into a productive collaboration, and together, they decided to address this gap in the market by creating a specialized tattoo balm.
The road to establishing Mad Rabbit involved significant research and development as Zak and Agbitor strived to develop a plant-based, organic formula that would soothe the skin, promote healing, and not clog pores.
After considerable trial and error, they finally created a formulation they were satisfied with, leading to the inception of Mad Rabbit in 2019.
Unique in its use of 100% organic ingredients, Mad Rabbit Balm includes shea butter, cocoa butter, calendula, almond, cucumber, and beeswax, all known for their skin benefits.
The founders were hands-on in running the company, managing everything from manufacturing to marketing and sales.
Despite starting small, Mad Rabbit quickly gained popularity in the tattoo aftercare market, with the founders introducing two new products, the Mad Rabbit 30 SPF Sunscreen and Soothing Gel, by the time they appeared on Shark Tank.
They marketed their product line primarily through social media, encouraging customers to share before and after photos showcasing the healing process aided by their products.
Before their appearance on Shark Tank, Zak and Agbitor had built a solid foundation for their business. They had a growing customer base, well-received products, and a strong online presence with a community of more than 90,000 people on Instagram.
Furthermore, they successfully implemented a subscription-based model, contributing to a steady income stream. These achievements highlight Mad Rabbit’s founders’ dedication and innovative spirit, setting a promising stage for their subsequent adventure on Shark Tank.
How Was The Shark Tank Pitch Of Mad Rabbit?
The founders of Mad Rabbit, Oliver Zak and Selom Agbitor, appeared on Shark Tank Season 12, Episode 18, seeking investment for their innovative tattoo aftercare cream.
Oliver and Selom were seeking an investment of $500,000 in exchange for 5% equity in their business, valuing Mad Rabbit at $10 million.
During their presentation, Oliver and Selom pitched their cream as a daily care product that helps revitalize, replenish, and preserve tattoos. The duo shared impressive numbers demonstrating their product’s financial success and potential.
In 2019, they managed to sell $400,000 worth of tattoo aftercare cream. However, eight months before their appearance on Shark Tank, Mad Rabbit Tattoo had total sales of $1.7 million.
The company had sold $300,000 worth of cream in the 30 days preceding their pitch, with a profit of $60,000.
They also shared that they had a subscription model where their 5,000 subscribers paid $11.99 a month to have the cream sent to them.
They explained that the cream cost around $2.78 to manufacture, and customer acquisition costs were between $6-$7.
Their presentation and the strong financial performance of Mad Rabbit sparked interest in sharks Kevin O’Leary and Mark Cuban. Kevin O’Leary offered $500,000 as a loan at 9.75% interest for a 5% equity stake.
Mark Cuban, however, offered a straight equity deal – $500,000 for 12% equity in the company.
After considering both offers, Oliver and Selom accepted Mark Cuban’s deal. They left the tank with a $500,000 investment and Mark Cuban as a partner in exchange for 12% equity in their company.
Since the show, Mad Rabbit has launched a sunscreen to protect tattoos from sunburn and has expanded their product line from 1 to 8 products.
During Shark Tank Season 14, Episode 4, the company also announced that it had grown from $3 million in sales to over $14 million and was now sold in over 150 Urban Outfitters, 200 tattoo parlors, and over 100 countries.
With Mark Cuban’s help, they have partnered with Inked Magazine, the leading tattoo media brand. Thus, the Shark Tank pitch was a major success for Mad Rabbit, and their partnership with Mark Cuban has significantly boosted their growth and visibility in the market.
Did Mad Rabbit Get a Deal on Shark Tank?
Yes, Mad Rabbit did get a deal on Shark Tank. Founders Oliver Zak and Selom Agbitor entered the show seeking $500,000 for 5% equity in their company. After presenting their business idea and impressing the sharks with their sales rate, they received an offer from Mark Cuban.
Mark Cuban offered them $500,000 in return for 12% equity in the company. Despite Oliver expressing interest in partnering with Lori Greiner, Mark declined to share the deal. Ultimately, Oliver and Selom agreed to Mark’s offer, making him a business partner.
Following their successful pitch on Shark Tank, the founders significantly increased their sales and expanded their product line, making Mad Rabbit a thriving business in the tattoo aftercare market.
What Happened To Mad Rabbit After Shark Tank?
Mad Rabbit saw significant growth and expansion after their successful pitch on Shark Tank and acquiring Mark Cuban as a partner. Following the investment, they launched a new sunscreen designed to protect tattoos from sun damage.
They also expanded their product line from a single product to eight different offerings, diversifying their business and providing more options for their customers.
This expansion and increased visibility from their appearance on Shark Tank led to substantial sales growth. The company’s revenue increased from $3 million to over $14 million.
The distribution of Mad Rabbit products also expanded significantly. Their products became available in over 150 Urban Outfitters locations and 200 tattoo parlors and were shipped to over 100 countries. This broader distribution network enabled them to reach a much larger customer base.
Furthermore, Mad Rabbit partnered with Inked Magazine, a leading tattoo media brand, further increasing brand recognition and appeal to their target customer base.
Behind the scenes, Oliver and Selom likely worked with Mark Cuban to enhance their online presence and reduce customer acquisition costs to improve business operations and profitability.
Mad Rabbit experienced significant growth and success after their appearance on Shark Tank. Their partnership with Mark Cuban has provided valuable resources and guidance, and the company is on a strong trajectory for continued success.
Mad Rabbit Shark Tank Update
After appearing on Shark Tank, Mad Rabbit Tattoo experienced significant growth and success. The episode featuring Mad Rabbit Tattoo aired in 2021 during Season 12 of the show. The founders, Oliver Zak and Selom Agbitor, entered the tank seeking $500,000 in exchange for a 5% equity stake in their company.
Despite some initial hesitation from the sharks about the valuation, the pitch highlighted Mad Rabbit’s impressive numbers. In the month before appearing on Shark Tank, they generated $300,000 in revenue, and in 2020, they made a total of $1.7 million in sales.
The sharks recognized the potential of Mad Rabbit and its unique position in the tattoo aftercare market. Mark Cuban offered them a deal, investing $500,000 for a 12% equity stake in the company. This partnership with Mark Cuban has been instrumental in Mad Rabbit’s growth and success.
Following their appearance on Shark Tank, Mad Rabbit Tattoo saw a significant increase in sales and brand exposure. They were featured in notable publications such as Forbes, Entrepreneur, and Inc., further enhancing their credibility.
However, the sudden surge in demand presented challenges initially. The company faced difficulties promptly fulfilling orders, resulting in negative reviews and customer dissatisfaction. Nevertheless, they quickly resolved these issues and maintained high quality and customer satisfaction.
With Mark Cuban’s support and guidance, Mad Rabbit Tattoo expanded its operations and product line. They introduced new products such as the tattoo balm stick, body lotion, body wash, and merchandise like t-shirts and hats.
Their commitment to using natural ingredients and providing quality tattoo aftercare products continued to resonate with customers.
The partnership with Inked magazine, one of the most popular tattoo magazines, was another significant accomplishment for Mad Rabbit. They also attracted investments from notable names like Stefon Diggs, Jay Z, and Yelawolf and even received additional funding from Mark Cuban with a follow-up investment of $4 million.
Mad Rabbit successfully entered the retail market, making their products available in stores like Walmart and Urban Outfitters. This expansion allowed them to reach a wider audience and increase accessibility to their products.
Additionally, their online presence on platforms like Amazon further contributed to their growth and market reach. Mad Rabbit’s strong community engagement continued to thrive after Shark Tank.
They maintained an active social media presence with over 200K followers on Instagram and nearly 5,000 followers on Twitter. Their engaging content and constant interaction with their audience helped foster a loyal customer base.
Mad Rabbit Tattoo’s estimated net worth is around $6 million. Their annual sales are projected to be around $20 million for that year, showcasing their tremendous growth since their appearance on Shark Tank.
Mad Rabbit Tattoo’s journey after Shark Tank exemplifies the potential for success when a unique product meets strong entrepreneurship and strategic partnerships.
Their commitment to quality, natural ingredients, and customer satisfaction has propelled them to become one of the most successful businesses in the tattoo industry.
Is Mad Rabbit Still In Business?
Our research shows that Mad Rabbit is still in business. The company is actively selling its products and experiencing significant growth. They have a strong presence on social media platforms, particularly Instagram, where they have gained a substantial following and engagement.
Mad Rabbit continues to invest heavily in marketing, including influencer marketing, to promote its products and boost sales. In addition to their online presence, Mad Rabbit products are available on the Amazon website, where they have received positive ratings and reviews from customers.
The company has also expanded its retail footprint, with its products sold in over 1000 retail stores across the United States, including some supermarkets. They have also partnered with Tattoo Lifestyle Magazine and the Inked online store.
Mad Rabbit’s success has been recognized by various media publications, including Forbes, Bustle, WWD, Byrdie, Men’s Health, CNBA, and The Business Journals, which have featured their story.
The company has also raised significant funding, including a $10 million Series A round led by Lucas Brand Equity, with participation from Mark Cuban, H Venture Partners, and other investors.
Mad Rabbit’s continuous growth and expansion indicate they are still in business and thriving in the tattoo aftercare industry.
What Is the Net Worth Of Mad Rabbit?
According to our research, the net worth of Mad Rabbit is estimated to be $12 million. The valuation of Mad Rabbit was $4.16 million after securing an investment from Mark Cuban on Shark Tank.
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