PhoneSoap Net Worth:- PhoneSoap is a phone charger for those who don’t have access to one. The phone is cleaned using UV light and a bleach solution. Two cousins came up with the idea for this product after discovering that cell phones harbor an incredible 18 times the number of germs that are capable of causing illness that is present on any other surface.
Prior to this, he had never been allowed to conduct his professional obligations while sitting in his own home. It wasn’t until he was given the chance to work from home and manage his own business that he began to really consider these options.
In exchange for 7.5 percent of the business, Wesley and Dan are asking for $300,000. It has been revealed to the Sharks that a regular mobile phone is 18 times dirtier than any surface discovered in a public washroom. The Sharks are disgusted to the proper degree. Free samples are being distributed. They have to explain to Mark why booze won’t work, since he’s perplexed as to why it would.
They generate over $500,000 in annual revenue and may be found in forty different Staples stores. Patents for two important innovations are held by this group of people. According to Robert, the usual customer is too sluggish to take advantage of this. Kevin is confident that they’ve found a void in the industry. One-fifth of a million dollars has already been raised, or $800,000.
PhoneSoap sells UV sanitizers as well as polishes, wipes, and antimicrobial ionic silver covers for mobile phones and other electronic devices. PhoneSoap, like a slew of other Shark Tank-featured startups, was born out of a Kickstarter campaign. The project’s fundraising goal of $63,478 was met in May 2012 when a total of $63,478 was collected. PhoneSoap’s effectiveness has been repeatedly demonstrated since then.
Until Kevin recovers his initial investment of $300,000 and another $1.2 million of his investment, he will pay a royalty of $6 per unit and $3 per unit, respectively. As a result of a disagreement between Kevin and the guys, he must go. If the phone can be engineered to sterilize itself in one minute, Mark is willing to spend $300,000 in exchange for a 30 percent ownership interest in the company’s stock.
Lori offers to buy 15% of the company for $300,000 after selling a huge number of phone cases. Mark thinks that if you’re in commercial sales, you can charge more money. She intends to sell it on QVC when she gets a chance to.
There is a disagreement between Mark and Lori as to who would be a better candidate. As Lori has mentioned, she will reduce the cut to 10% if the lads agree to her requirements immediately. The boys want a better valuation. The lads have reached an understanding.
When Lori joined the PhoneSoap team one year ago, it was clear that her involvement had already yielded impressive results. In the most recent Shark Tank episode, which aired May 16, 2016, an update on the PhoneSoap segment was delivered.
As Dan revealed, a total of $5 million in sales were generated in the first year thanks to PhoneSoap’s appearance on QVC, and that number continues to rise each time the product is featured on the shopping channel. After expanding to a total of twelve staff in 2018, the PhoneSoap company is now in need of additional warehouse space to keep up with the growing demand for their products.
Dan revealed that Lori is in the final stages of a contract with Bed Bath and Beyond that would allow PhoneSoap to be offered at all 1,500 of that retailer’s locations. Before the year ends, he expects to have an agreement in place.
The XL version of the PhoneSoap has recently gone on sale in response to several inquiries from consumers wondering when a larger version of the product would be made available for tablet users. That’s after Wes, who’s famed for his inventiveness, has been keeping himself occupied for a while.
It retails for $120 and includes a universal charger for use with any tablet. Due to the high demand, customers would have to wait one month before receiving their purchases.
PhoneSoap’s original device has also experienced a number of improvements since its inception. An active alarm for clients who wish to keep their phones charged overnight has been added, as well as the option of alerting users when they receive calls or texts. It’s now possible for customers who wish to charge their phones overnight to do so. Here!
These will be in short supply again because of their continued popularity during the pandemic, and we expect strong demand from clients once again. To ensure that you can get your hands on one at the moment and add it to your cleaning product arsenal, you need to act swiftly (so that you may use your Lysol wipes for other things).
The first six months of PhoneSoap’s operation brought in $540,000 in revenue. This was a strong start for the new business, but it wasn’t enough to sway the sharks away from the competition.
“Shark Tank” presenter Robert Herjavec decided not to invest because “the common customer is rather lazy” and “I’m not convinced they regard this as a significant issue that they’re prepared to spend money on.” Herjavec was making a point about the laziness of consumers.
If the answer is yes, then you’re in the right place. Make sure you never miss a People’s Shopping deal, celebrity fashion, or home decor by signing up for our email. You can also save money by visiting the coupons page of People. The inventor was charging his cell phone when he came up with a unique charger that uses ultraviolet light to clean the phones.
A USB connector for charging cables and two UV lights in a reflective shell that kills microorganisms by baking them are included in the PhoneSoap charger. PhoneSoap takes cleaning to a new level by using UV light, which has been used for years to clean factories.
Leaving a partnership with billionaire Mark Cuban takes guts, but Wes Barnes and Dan LaPorte of PhoneSoap did just that on Friday’s Shark Tank episode. LaPorte asked both sharks whether they would be willing to lower their equity shares, but Greiner came up with a compelling counteroffer. Cuba would not move at all.
So, she made an offer like this: “If you take the deal immediately, I’ll cut it to 10%.” During Shark Tank, the two business founders sought to sell 7.5 percent of their cell phone cleaning company for $300,000, and they received a variety of proposals from the sharks.
Barnes, on the other hand, piqued Cuban’s interest when he presented a plan to sell the product to commercial users, such as hospitals. These customers would pay for the goods.
PhoneSoap’s flagship product is the phone charger. It disinfects mobile devices by exposing them to UV light, which kills microorganisms. Barnes and LaPorte, cousins, developed the device after discovering that cell phones contain 18 times the amount of potentially deadly bacteria as any other surface in public restrooms.
Because of this, Mark thinks that the cost of marketing is going to be quite expensive. Wesley and Dan claim that they have gotten attention from medical and educational facilities. There is no need for a tanning bed for Robert’s phone, so he is leaving. In Mark’s opinion, the hospital atmosphere lends itself well to the sale of a phone that can be quickly disinfected. Barbara doesn’t like the concept since she thinks it’s too complicated.
Phones are ideal breeding grounds for a wide range of bacteria and germs because of the heat they produce. Phone Soap was made by people who were unhappy with their lives. It is a portable tanning bed for smartphones.
As a result, it was difficult for him to figure out how much the product would cost per unit before he started talking about prospective funding sources or other issues to consider. Learn what the sharks had to offer and whether or not this was a wise investment for both parties concerned.
It’s unlikely that everyone will buy this, but he thought it was an interesting marketing opportunity. There aren’t going to be a lot of people buying this. My role as an employee in the medical field allows me to collect and disseminate any information that isn’t good in a waiting room.
Mobile phones can be used to cleanse and maintain cleanliness of mobile phones at any time and in any location. To disinfect phones and remove 99.9% of bacteria, the company’s phone charging system uses UV-C light to emit UV-C light. It takes five minutes to disinfect phones using this system. The charging box has an audio amplifier built-in, so consumers can hear any notifications.
After making an offer to the company’s co-founders for $400,000 to receive 20% of the company, Cuban was quickly challenged by co-host Lori Greiner for the same amount for 15%.
I want to put this unit on QVC and sell it for hundreds of thousands of dollars like that, “she said as she uttered those comments.”In Shark Tank, Wesley Laporte and Dan Barnes are attempting to sell their PhoneSoap phone charger with UV light sanitizer.
When they realized that microbes may thrive in a mobile phone’s environment, they came up with this idea. Most phones include germs like staphylococcus aureus, E. coli, and MRSA, as well as feces from one in six phones! Prior to Cuban modifying his offer, Barnes and LaPorte chose to accept Greiner’s offer instead of Cuban’s.
The founders chose Greiner’s offer because he gave them a smaller share of the money and was sure that PhoneSoap could be a good product for consumers. It was said by Barnes that they did not want to halt efforts at this time. From this point forward, we’ll be publishing weekly summaries, so be sure to check back.