SoaPen Shark Tank Update | SoaPen Net Worth

SoaPen is a soap product designed by entrepreneurs Amanat Anand and Shubham Issar, who pitched their company on episode 04 of Season 13 of Shark Tank. This soap is aimed at making handwashing fun and engaging for children.

The soap allows kids to draw on themselves with it, and the drawings only rinse off once the child has washed their hands for the recommended 20-40 seconds. This feature playfully encourages proper handwashing habits.

SoaPen is made without harmful substances like SLS, parabens, and phthalates, making it safe for children’s use. Parents appreciate SoaPen as it allows them to confirm if their children have washed their hands effectively visually.

Moreover, for every purchase, SoaPen donates soap or a percentage of profits to organizations supporting children’s hygiene and health, reflecting the founders’ commitment to social impact.

SoaPen’s colorful variants, pleasant scents, and long-lasting formula make it a convenient and effective choice for promoting hand hygiene among children, potentially preventing millions of child deaths every year.

Company NameSoaPen Inc.
FounderAmanat Anand and Shubham Issar
ProductA pen-shaped hand-washing soap for kids
Investment Seeking$100,000 for a 10% equity
Final Deal Accepted$100,000 for a 10% equity + a $1 royalty for every unit sold until $200,000 is paid
Shark NameNirav Tolia and his Wife
EpisodeSeason 13, Episode 04
Business StatusIn Business
WebsiteVisit Website
Net Worth$1.5 million

What Is SoaPen?

SoaPen is a colorful, soap-filled pen designed to make handwashing fun for young children. It allows kids to draw on their hands with soap, and as they wash away their drawings with water, they effectively clean their hands for the recommended duration.

SoaPen is non-toxic, ideal for sensitive skin, and free from harmful substances such as SLS, parabens, EDTA, and phthalates. It comes in a pack of three pens in different colors and scents, lasting for 100 washes each.

SoaPen Shark Tank Update | SoaPen Net Worth

The company’s product is a unique soap designed to make handwashing fun for kids. SoaPen allows children to draw on themselves with the soap, and the drawings only rinse off once the child has washed their hands for the recommended 20-40 seconds.

The product is designed with a direct rollerball applicator to prevent soap wastage. SoaPen aims to promote proper hand hygiene in an enjoyable way for children.

SoaPen comes in various colors and scents, is non-toxic, and is free of harmful chemicals like SLS, parabens, and phthalates.

The company aims to have a positive impact on children’s health by encouraging proper handwashing practices.

Who Is The Founder Of SoaPen?

The founders of SoaPen are Amanat Anand and Shubham Issar. Amanat was previously working as a furniture and CAD designer for ASH NYC and Uhuru Design, while Shubham was a designer and project manager at Stand and Build.

They met at the Parsons School of Design in New York City while pursuing a BFA in Industrial and Product Design.

Amanat and Shubham conceived the idea of SoaPen after participating in the UNICEF Wearables for Good Challenge, which aimed to promote design and technology solutions for societal betterment.

They wanted to make handwashing fun and accessible for kids after learning that soap could prevent fatal infectious diseases in children under 5.

SoaPen was born after winning the challenge and underwent extensive research and development.

Prior to appearing on Shark Tank, Amanat and Shubham tested their prototypes at the Reece School in NYC, where SoaPen effectively taught children proper handwashing techniques.

They also received accolades such as being on Forbes’ “30 Under 30” list, participating in global health conferences, receiving awards like the Toyota Mother of Invention, and being accepted into entrepreneurship mentoring programs.

Their dedication to impactful design and social outcomes garnered recognition and set the stage for their appearance on Shark Tank.

How Was The Shark Tank Pitch Of SoaPen?

The founders of SoaPen, Amanat Anand and Shubham Issar, appeared on Shark Tank seeking a $100,000 investment in exchange for a 10% equity in their $1 million product.

They have generated $85,000 in lifetime sales since their launch in 2019. The product is a soap in the form of a pen designed to make handwashing fun for kids.

SoaPen Shark Tank Update | SoaPen Net Worth

During the pitch, the sharks were impressed by the concept and product. Lori Greiner and Robert Herjavec liked the idea but felt the business was too new to invest in.

Kevin O’Leary questioned the founders about their return on investment and suggested improvements in sales and marketing strategies.

Ultimately, Mark Cuban, Lori Greiner, Robert Herjavec, and Kevin O’Leary all decided not to invest.

Guest shark Nirav Tolia initially hesitated due to the business being new but eventually offered $100,000 for a 10% equity in SoaPen, with an additional $1 royalty until $200,000 is recouped.

His wife, who has experience with soap brands, would also help the founders. Anand and Issar accepted Nirav’s deal.

Shark’s Views on SoaPen:

  • Lori Greiner: Pleased with the progress but felt the business was too new to invest.
  • Robert Herjavec: Liked the idea but didn’t see it as the right investment.
  • Kevin O’Leary: Advised on sales and marketing improvements but didn’t invest.
  • Mark Cuban: Agreed with Kevin and backed out for the same reason.
  • Guest Shark Nirav Tolia: Initially hesitant due to the business being new, but eventually offered a deal.

Table of Shark Tank Offers:

Shark’s NameInvestment OfferedCounter Offer from FounderOffer Accepted by Founder
Lori Greiner
Robert Herjavec
Kevin O’Leary
Mark Cuban
Guest Shark Tolia$100,000 for 10%$1 royalty until $200,000Yes

Did SoaPen Get a Deal on Shark Tank?

Yes, SoaPen did get a deal on Shark Tank. Entrepreneurs Amanat Anand and Shubham Issar struck a deal with guest shark Nirav Tolia. They accepted an offer of $100,000 for 10% equity, along with a $1/unit royalty until $200,000 is recouped.

This deal was made after Nirav initially let them walk out of the tank, showing interest later on. This partnership has helped SoaPen grow its business and establish a strong online presence, with successful sales on various platforms.

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What Happened To SoaPen After Shark Tank?

SoaPen, founded by Amanat Anand and Shubham Issar, made a significant impact after their appearance on Shark Tank.

Despite initial skepticism from some sharks due to their limited marketing experience, guest shark Nirav Tolia saw potential in the product and offered a deal. This marked a turning point for SoaPen.

Following the show, SoaPen saw a rapid increase in sales, selling out their products on the night of the episode’s airing. They quickly restocked and capitalized on the momentum.

Establishing an Amazon storefront in 2022 proved to be a successful move, allowing for wider access to their products.

SoaPen Shark Tank Update | SoaPen Net Worth

Expanding their offerings, SoaPen introduced bulk sales options and an educator’s discount program on their official website. Additionally, they launched a blog providing parenting tips, enhancing their brand presence and engagement with customers.

Taking Mark Cuban’s advice seriously, SoaPen focused on building a strong social media presence. Their TikTok and Instagram accounts garnered substantial followings, while a Facebook video gained significant views.

The company also received attention from reputable publications like Forbes and Parents Magazine, further boosting its credibility. Despite discontinuing certain products like kid-friendly hand sanitizing gels, SoaPen maintained its growth trajectory.

The company remains operational, offering a range of products on its website and Amazon. They continue to receive positive feedback, with their SoaPen set maintaining a high rating on Amazon.

Looking ahead, SoaPen’s future seems promising. They announced the addition of new colors to their product lineup and expansion into brick-and-mortar retail locations like the Whitney Museum gift shop in New York City.

With a solid foundation and a dedicated team, SoaPen is poised for further success and potential product expansions in the future.

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SoaPen Shark Tank Update

After appearing on Shark Tank, SoaPen experienced a surge in sales and visibility. Despite not revealing whether the deal with guest shark Nirav Tolia was finalized, the business continued to thrive.

In February 2022, SoaPen secured a $150,000 investment from MassChallenge, further boosting its growth and development.

The Shark Tank effect was evident as SoaPen witnessed a significant increase in sales post-broadcast. The company’s products quickly sold out on its website, indicating heightened consumer interest and demand.

Subsequently, SoaPen not only restocked its popular soaps but also enhanced its production capabilities to meet the growing market needs.

Moreover, SoaPen introduced a new bundle offering in the form of a $25 package, combining a SoaPen product with a potty-training book. This strategic move aimed to diversify the product range and cater to a broader customer base, showcasing the company’s adaptability and innovation in response to market trends.

As of 2024, SoaPen remains operational and continues to collaborate with Nirav Tolia and his wife, leveraging their expertise in the soap industry.

While specific financial details such as net worth are undisclosed, the sustained presence of SoaPen in the market suggests its ongoing success and relevance in promoting healthy hand hygiene practices among children.

SoaPen’s journey post-Shark Tank exemplifies a story of resilience, growth, and strategic expansion in the competitive consumer goods landscape.

By capitalizing on the exposure and opportunities generated by the show, SoaPen has solidified its position as a trusted brand in the realm of innovative and engaging hand hygiene solutions for kids.

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What Is the Net Worth Of SoaPen?

According to our research, SoaPen’s net worth is estimated to be $1.5 million. The valuation of SoaPen was $1 million after securing an investment from Nirav Tolia in season 13 of Shark Tank.

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