PhoneSoap Shark Tank Update | PhoneSoap Net Worth

PhoneSoap is a phone sanitization product introduced in Season 6 of Shark Tank. The product concept is rooted in hygiene and technology, combining both to address a common problem many unknowingly encounter – a dirty smartphone.

People carry their phones everywhere, so it’s no surprise they can become breeding grounds for bacteria. PhoneSoap is a sanitizing device that uses ultraviolet (UV) light technology to eliminate these potentially harmful microbes.

PhoneSoap features a sleek, compact design like a small, clamshell case. The two UV-C light bulbs inside produce a specific wavelength of light scientifically proven to kill 99.99% of household bacteria and viruses by disrupting their DNA.

PhoneSoap is spacious enough to accommodate other small objects such as keys, credit cards, or earbuds, providing a versatile solution for sanitizing various commonly used items. This design incorporates a USB port to charge a phone while sanitizing.

In an era where cleanliness and hygiene are more critical than ever, PhoneSoap effectively sanitizes everyday items typically overlooked in cleaning routines. Secondly, the convenience and simplicity of use make it an appealing choice for many.

PhoneSoap users can clean their phones without wiping them or using other potentially damaging methods. Also, it’s a clever feature that allows you to charge your phone while it’s being cleaned.

As a result, PhoneSoap is a practical, healthy, and innovative technology product that anyone can use.

Company NamePhoneSoap
EntrepreneurDan Barnes And Wes LaPorte
ProductPhone Sanitizing Case Using Ultraviolet Light
Investment Asking For$300,000 For 7.5% equity in PhoneSoap
Final Deal$300,000 For 10% equity in PhoneSoap
SharkLori Greiner
Episode Season 6, Episode 24
Business StatusIn Business
WebsitePhoneSoap Website
Net Worth$5 Million

What Is PhoneSoap?

PhoneSoap is a pioneering product in the world of smartphone sanitizers, being the first-ever charger to incorporate UV light technology for phone disinfection. Smartphones are frequently handled, which exposes them to numerous bacteria because they serve as the central hub for communication, information, and entertainment.

PhoneSoap introduces a simple and efficient method to combat this problem while ensuring the device remains charged. PhoneSoap promises to eliminate 99.99% of bacteria within 10 minutes thanks to its dual UV light bulbs.

PhoneSoap is the UV-C technology that makes this treatment so effective. It can also sanitize remote controls and tablets, in addition to smartphones. This innovative device comprises a small chamber that encloses the phone, providing 360-degree disinfection.

The UV-C light reacts with the genetic material of microorganisms, thereby incapacitating their ability to function and reproduce. It also operates like a charging hub, offering simultaneous charging during sanitizing using a USB port.

There are a few variations available of this ingenious product. The PhoneSoap 3 is the basic model adaptable to all phone sizes and models. The manufacturer offers PhoneSoap Pro, a more advanced version at the other end of the spectrum.

PhoneSoap Shark Tank Update | PhoneSoap Net Worth

The PhoneSoap Sanitizing Bay is ideal for sanitizing smaller objects besides phones and is priced at $119.95. PhoneSoap has garnered significant positive feedback from users, as reflected in its high ratings in online reviews.

PhoneSoap is revolutionary smartphone sanitization equipment, emphasizing hygiene’s importance in our tech-reliant society. Its straightforward operational process and high efficacy mark a positive leap in maintaining health and hygiene.

Who Is The Founder Of PhoneSoap?

PhoneSoap was founded by two cousins, Dan Barnes and Wes LaPorte. They both had a background in the medical field before turning entrepreneurs. Dan Barnes was pursuing a career in sales and marketing in the medical device industry, while Wes LaPorte worked in the healthcare industry as a microbiologist.

PhoneSoap was conceived when they started questioning how clean our most commonly used devices are. They learned that cell phones, which we constantly touch and hold to our faces, were frequently dirtier in terms of bacteria than in a public restroom.

This realization alarmed them and ignited a desire to find a solution. They wanted to create a product that effectively and safely sanitizes a smartphone, killing off the bacteria accumulated from daily use. 

They turned to UV-C light, a type of ultraviolet light used for sanitization in multiple industries, including healthcare, for its ability to kill a wide array of bacteria and viruses.

PhoneSoap is a device that encapsulates and bombards a phone with UV-C light, killing 99.99% of the common bacteria after extensive research and testing.

Before appearing on Shark Tank, Dan, and Wes successfully launched a Kickstarter campaign in 2012 to fund their idea, which was well received. The Kickstarter campaign raised over $60,000, allowing them to bring PhoneSoap to production.

However, despite the initial success, they struggled to scale their business and needed additional funding for inventory, marketing, and further product development. This led them to seek investment in Shark Tank in 2015.

Their product intrigued the sharks, especially Lori Greiner, the “queen of QVC,” who saw the potential in PhoneSoap and decided to invest in the company.

Since the Shark Tank appearance, PhoneSoap has grown significantly and has expanded its product line to include different models and variations.

How Was The Shark Tank Pitch Of PhoneSoap?

The PhoneSoap Shark Tank pitch aired in 2015 during Season 6 of the popular entrepreneurship-focused reality show.

Co-founders Dan Barnes and Wes LaPorte came into the Tank seeking $300,000 for 7.5% equity in their company, valuing PhoneSoap at $4 million. 

The presentation began with an engaging introduction. Wes and Dan stressed that our phones, which we put against our faces and use during meals, can be dirtier than a public toilet seat.

They were able to effectively grab the Sharks’ attention and emphasize the importance of their product.

To demonstrate the effectiveness of PhoneSoap, they even showcased a Petri dish experiment where bacteria was grown from a swab taken from a phone before and after using the device, which visually illustrated the substantial difference PhoneSoap made in reducing bacteria.

The Sharks showed interest during the presentation and asked questions about sales, business models, and market potential.

Wes and Dan revealed that they had sold around $540,000 worth of PhoneSoap units in the last six months, each costing $6 to manufacture and retailing for $59.95.

However, they also shared their challenges, including inventory issues and the need to increase marketing efforts to build consumer awareness about smartphone hygiene problems.

The Sharks had differing views on the product. Mark Cuban was out early, stating that he believed in the problem they were addressing but wasn’t convinced that PhoneSoap was a solution that the mass market would adopt.

Kevin O’Leary was similarly skeptical, suggesting that while the product was a good idea, it might be too niche to have broad appeal.

However, Lori Greiner, known for her success with consumer products, saw potential in the product. She appreciated the utility of PhoneSoap, especially because everyone uses a phone, and the hygiene issue it addresses is universal.

After some negotiation, Lori offered $300,000 for 10% equity, a little more than the 7.5% initially offered by the co-founders, but with the added benefit of tapping into Lori’s expertise and networks.

The co-founders accepted the deal and thus began the next chapter in PhoneSoap’s success story.

Final Dea: Lori Greiner agreed to invest $300,000 for a 10% stake in PhoneSoap. 

What Happened To PhoneSoap After Shark Tank?

After their appearance on Shark Tank and the subsequent partnership with Lori Greiner, PhoneSoap’s business took off dramatically. The exposure from the show led to a significant increase in orders, resulting in frequently sold-out inventory.

The association with Lori also opened up new retail opportunities for the brand, including being featured on QVC, a leading home shopping network, greatly increasing the product’s visibility and sales.

In addition to the original PhoneSoap device, the company expanded its product line to include different models of phone sanitizer to cater to various consumer needs.

This includes the PhoneSoap 3, which has USB ports for phone charging, the PhoneSoap Wireless with wireless charging capabilities, and the PhoneSoap Pro, which offers faster sanitizing times.

PhoneSoap Shark Tank Update | PhoneSoap Net Worth

They also ventured beyond phone sanitizers. They introduced HomeSoap, a larger device capable of sanitizing tablets, remotes, and other household items, and PhoneSoap Go, a portable, battery-powered sanitizer for use on the go.

This diversification of product offerings allowed PhoneSoap to reach a broader market and meet different customer needs.

PhoneSoap also experienced a surge in demand due to the COVID-19 pandemic. As awareness and concern about hygiene and germ transmission grew, so did the demand for sanitization products like PhoneSoap.

By offering a user-friendly way to sanitize frequently used items like phones, keys, and credit cards, PhoneSoap found itself well-positioned to meet the needs of consumers during this time.

In sum, the post-Shark Tank journey for PhoneSoap has been a story of considerable growth and success.

They’ve managed to take an innovative idea, get it in front of the right people, and turn it into a thriving business that addresses a significant and universally understood problem.

PhoneSoap continues to grow and innovate in the personal hygiene and sanitation market.

PhoneSoap Shark Tank Update

After appearing on Shark Tank, PhoneSoap, the cellphone sanitizer and charger business created by cousins Dan Barnes and Wes Laporte, experienced significant growth and success.

During their pitch on the show, they sought $300,000 for 7.5% equity and made a deal with Lori Greiner for $300,000 for 10% equity. Their device utilizes ultraviolet lighting technology to eliminate 99.9% of bacteria from cell phones while charging them.

Following its appearance on Shark Tank, PhoneSoap thrived as a business. They introduced new products like Phone Soap Version 2 and Version 3, both available on their website and Amazon.

Additionally, they expanded their product line to include PhoneSoap Polish and an XL version for tablets. The original PhoneSoap 2.0 was enhanced with an active alarm, and they also had plans to release a faster phone sanitizer.

PhoneSoap’s partnership with Lori Greiner proved fruitful, leading to further expansion and increased availability of PhoneSoap products.

The company’s products were accessible in about 1500 stores, contributing to its growth and success. PhoneSoap’s net worth stood at $5 million.

The success of PhoneSoap didn’t stop there. In subsequent years after their Shark Tank appearance, PhoneSoap’s revenue continued to soar. In 2022, the company had 90 employees and achieved an impressive revenue of $24 million.

Their product line expanded to include AirSoap and HomeSoap. This demonstrated that the business had evolved into a thriving and sustainable venture. PhoneSoap’s appearance on Shark Tank was a game-changer for their business.

The exposure and investment from Lori Greiner propelled them to new heights, enabling them to innovate, expand their product offerings, and ultimately become a successful player in the market of phone sanitization and charging devices.

Is PhoneSoap Still In Business?

Yes, PhoneSoap is still in business. PhoneSoap, a company that offers UV light phone sanitizers and universal chargers, is actively operating. They have continued to thrive and introduce new product versions since their appearance on Shark Tank Season 6.

PhoneSoap’s device utilizes ultraviolet lighting to remove 99.9% of bacteria from phones while also functioning as a charger. They secured a deal with Lori Greiner on the show, and since then, the company has seen considerable success.

What Is the Net Worth of PhoneSoap?

According to our research, the net worth of PhoneSoap is estimated to be $5 million. The valuation of PhoneSoap was $3 million after securing an investment from Lori Greiner on Shark Tank.

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