PSI Bands Shark Tank Update

PSI Bands are a new way to combat nausea and vomiting. Wearing the band inhibits the body’s nauseous response by emitting a low-level electrical current. PSI Bands were featured on Shark Tank.

PSI Bands reduce nausea and vomiting associated with morning sickness, chemotherapy, and postoperative recovery. The bands are non-invasive and have no side effects. If you suffer from chronic or occasional nausea, PSI Bands may be a helpful solution for you.

What are PSI Bands?

PsiBands is a wristband that uses acupressure and claims to alleviate motion sickness, morning sickness, and chemotherapy nausea without using drugs. The principles of acupuncture are the same as those of acupressure, except no needles are involved. A Psi Band is used to apply pressure to the Neiguan pressure point.

Psi Bands should be worn on both wrists for maximum effect. The purpose was to make them look fashionable. Some medical studies suggest acupuncture may relieve nausea, but no solid evidence supports this claim.

The PsiBands wristbands alleviate nausea by applying pressure to specific pressure points located above the wrists. For centuries, acupuncture has been practiced in the East and has become an increasingly recognized drugless treatment for nausea related to morning sickness, motion sickness, anesthesia, and chemotherapy. PsiBands have 51 different pressure settings to find the right fit.

PSI Bands Shark Tank Update
Company NamePSI Bands
EntrepreneurRomy Taormina
Product / BusinessWristbands with acupressure to counter nausea
Investment Asking For$250,000 for 10% equity in PSI Bands
Final DealNo Deal
SharkNo Shark
Episode Season 4, Episode 18
Business StatusIn Business
WebsiteVisit Website

Who is the founder of PSI Bands?

Romy Taormina is the founder of PSI Bands. Psi bands are a drug-free alternative to motion sickness, morning sickness, and chemotherapy. They use acupressure to relieve nausea caused by motion sickness or morning sickness. The side effects of postoperative anesthesia and chemotherapy also include nausea.

With Psi Bands, you can relieve nausea by applying pressure to the Neiguan pressure point while remaining stylish simultaneously! Users must wear both Psi Bands, which come in pairs, to achieve maximum results.

PSI Bands Before Shark Tank

Romy Taormina designed a Psi Band as a solution to nausea. Romy experienced nausea during pregnancy and used bands that applied pressure near her wrist to alleviate it.

However, Romy was dissatisfied with any of the products available since they needed the features she deemed essential motivated Romy to develop her product, and she distinguished herself from the competition by incorporating customizable elements into her bands.

Romy’s business expanded and entered multiple retail outlets before appearing on Shark Tank, thanks to effective marketing and the product’s demonstrated popularity.

The Sharks love businesses that have demonstrated demand over time, and she had been in business for five years. Romy applied for a spot on the fourth season of Shark Tank, presumably to help her business develop even further.

PSI Bands Shark Tank Recap

Romy Taormina appeared on Shark Tank requesting an investment of $250,000 for a 10% stake in PSI Bands. Initially, Romy marketed her invention to pregnant women and cruise passengers, two groups of people who frequently suffer from nausea.

Romy then presented the Sharks with her Psi Bands solution and how it differs from competitors by being waterproof and customizable. Then she told the Sharks that her business had been profitable before she distributed samples to them. Robert wondered if there was evidence that the product effectively cured nausea.

It is well known that acupressure works, so Romy noted that clinical testing and FDA clearance had been obtained. However, Mark and Robert believed these assertions were insufficient to prove their effectiveness.

Robert went on to the financials, and Romy indicated that her sales in the previous twelve months were close to one million dollars. Roby mentioned that the product was available in over 6,000 U.S. retailers and had foreign distribution.

Her net income, however, was only $110,000. Robert was concerned because Roby’s margin was 60%, and the retail price was $15. Robert wanted to know the status of the remaining profit. Eventually, Romy disclosed that she received $100,000 in income and owed $600,000 due to unpaid wages.

Barbara expressed her pleasure at Romy’s passion, but she could not imagine an investor investing in a business and then watching the owner write a check to themselves for work done years ago before repaying their investment. As a result, Barbara left.

Romy needed to detail what percentage of individuals it failed to work on when Mark questioned her about the product. Mark was angered by this, saying, “There are numerous ineffective products on the market.”

His frequent concerns regarding products of this nature were rooted in his belief that Romy was trying to solve an important problem without overwhelming evidence that her solution would work. As a result, Mark went out as well.

Robert spoke up and expressed his concerns about the product’s claims. As a result, Robert also went out. Daymond was the first to believe in the idea, but he was wary of Romy because she claimed success but later revealed she had debts. Daymond left because he felt he could not trust Romy.

Kevin was interested in the company because it was profitable, unlike the other Sharks. He offered her $250,000 for a 40% stake in PSI Bands. Romy, however, refused immediately as it differed from her original proposal. Then, Kevin left, telling Romy that no investor would provide the valuation she requested.

Final Deal: No deal between Sharks and PSI Bands.

What Happened To PSI Bands After Shark Tank?

PsiBands aired in 2013 and didn’t have a very attractive website; nevertheless, Romy’s sales could have been better. In 2018, the place still resembled how I remember it. Sales are still strong, and the company remains in operation.

Romy’s cancer claims raised some eyebrows on Shark Tank, but sales of PSI Bands skyrocketed after FDA approval. PSI Bands may claim relief from nausea caused by morning sickness, motion sickness, and chemotherapy.

A PSI Band costs $15; you can buy them at Target, CVS, Walgreens, REI, Toys R Us, and Amazon. Psi Bands Acupressure Bands are available on Amazon and other brands with distinctive designs. The distinction between PsiBrands feedback and an active feedback rating is that PsiBrands feedback is rather high.

PSI Bands Shark Tank Update

Despite not securing an investment, Romy has expanded her business significantly since appearing on Shark Tank. She has been able to distribute her goods to various merchants, including Toys R Us and Amazon.

Mark Cuban’s stance on similar items did not change after the event, as seen by a video of him discarding another product in the Mavericks’ locker room, despite the NBA having inked a deal with that product, which likewise made questionable claims.

Psi Band’s expansion proves there are more believers than naysayers regards the product, explaining its success, despite some naysayers. The Jeff Probst Show episode titled “Million Dollar Mom Ideas,” which featured Psi Bands received excellent reviews from Romy about her business. As Barbara mentioned, Romy’s enthusiasm and dedication have contributed greatly to her firm’s success.

Romy’s pitch offers insightful information that future entrepreneurs can learn from. Romy remained calm and stayed by her product, despite the Sharks’ horrible comments, which shows she is attempting to grow her business and sell a great product instead of making money unethically.

PSI Bands Shark Tank Update

Romy did not directly answer many questions, including why her profit wasn’t high, but the reasons emerged soon enough. Daymond’s unwillingness to share all necessary investment information makes the Sharks uneasy, as they demonstrated with him.

Many Sharks were initially cautious about her offer, so this wasn’t a deal-breaker. However, it’s always better to directly answer the Sharks’ concerns rather than cause more confusion.

Are PSI Bands Still in Business?

Yes, PSI Bands is still in business with annual revenue of $5 million. In a subsequent interview, Taormina emphasized how energizing her Shark Tank experience was for her. Psi Bands have now been available on Amazon since the episode aired.

Others can learn from Taormina’s enthusiasm and confidence in her goods. They can also learn the importance of being upfront about the organization’s financial health from the outset.

Despite Taormina’s assertions, she cannot show that PsiBands alleviate nausea for all people. It is, therefore, only possible to know if the product will work for them if they are prepared to try it. Intriguingly, Mythbusters rejected the wristband method for overcoming motion sickness and nausea!

What is the Net Worth of PSI Bands?

The valuation of PSI Bands was $2.5 million when it appeared on Shark Tank. The net worth of PSI Bands is $5 million as of 2022.