Sometimes, you just want a natural deodorant that works. Jess Edelstein and Sarah Ribner believe they have found the perfect formula. Their deodorant is made from activated charcoal and works to keep you fresh all day long. What will the sharks think of this deodorant products when Jess and Sarah bring it to Shark Tank Season 7? Let’s find out in our PiperWai update.
Shark Tank PiperWai Update
- Entrepreneur: Jess Edelstein and Sarah Ribner
- Business: All-natural deodorant with a charcoal base
- Ask: $50,000 for 10% equity
- Result: $50,000 for 25% equity
- Shark: Barbara Corcoran
During their pitch, Jess and Sarah explained that PiperWai didn’t include any of the toxic ingredients in standard deodorants, and about the pH-balanced environment that PiperWai created when applied.
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At the time of filming, PiperWai was an applied cream with no stick applicator. Jess and Sarah reassured the sharks that they had a stick of deodorant on the way. Each jar was $2.74 to make and sold for $11.99.
The company had $110,000 in the ten months they’d been in business. Jess also revealed that they wanted to use the sharks’ money to scale the business and develop the stick applicator.
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However, Kevin O’Leary didn’t like the concept. He didn’t think deodorant would sell online, so he went out. Robert Herjavec went out as well, while Mark Cuban was concerned about why they had no increased sales. He didn’t think the entrepreneurs were aware of their situation, so he went out, too.
On the other hand, Barbara Corcoran was interested. She offered $50,000 for 33% equity. Lori Greiner was on board, too – she was looking for a natural deodorant that worked, so she offered $50,000 for 35% equity.
They countered Lori for 25% equity, but she refused. They then asked Barbara to reduce her equity to 25%, but she wanted to stay at 33%. The next time they asked, Barbara agreed to reduce her equity ask to 25%. They struck a deal! Find out where the company is now by continuing our PiperWai update.
Unfortunately for the company, research for our PiperWai update revealed that the deal with Barbara never closed. Still, about 10 days after the episode aired, they reached $1.3 million in sales and completely sold out.
Even several years later, the company is still doing about $1 to $2 million per year, with six employees on the roster.
You can purchase PiperWai’s all-natural deodorants, now with multiple different applicators, on the PiperWai website as well as on Amazon.
To get caught up on the other company updates from Season 7 Episode 11, you can find our updates here.
- Geek My Tree Update
- BeardHead Update
- Lovepop Update
For more on companies and products, check out our Season 7 Products Page.
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