Before Dude Wipes was listed, there was no disposable wet towel specifically for men. This personal care product was sold to Shark Tank by three entrepreneur friends Jeff Klimkowski, Ryan Meegan and Sean Riley. They reached an agreement with the technology investor Mark Kuban. Recently, Dude Wipes has a valuation of $ 300 million.
About the founder
Jeff, Ryan, and Sean have become the best friends in Chicago, Illinois since childhood. They call themselves “The Dudes”. Although only three of them appear on TV, they also have another friend and partner, named Brian Wilkin.
The four grew up together, but they chose different paths when choosing a course in college. Ryan goes to the University of Benedict to study marketing and communication, while Sean goes to Illinois State University to study industrial technology.
Both graduated in 2007. However, the other two people's educational background is a bit mysterious. However, according to reports, Jeff and Brian are learning accounting and finance.
Founding Playboy Wet Scarf
When The Dudes is still in college, they find that no brand of bathroom products can meet the unique needs of boys. As a result, they developed Dude Wipes in 2012.
The idea behind it is to provide men with a larger and more hygienic cleaning material for them for their areas. Aloe vera and vitamin E are added to the wet towel, which makes it soft enough, and can even be used for the most delicate body parts.
In addition, they are biodegradable, so they do not have to worry about pouring them into the toilet. These features have made this startup a lot of exposure in the early days. The founder reached an agreement with the Cross retail chain, which helped them achieve a total sales of $ 300,000.
Chuangzhi Winners
In 2015, Jeff Klimkowski, Ryan Meegan, and Sean Riley joined “Innocence Winners” in the seventh season. The three best friends came in and asked to invest 300,000 US dollars in exchange for 10% of their startups.
After explaining their business, female investors Barbara Corcoran and Lori Greiner failed to see the practicality of the product immediately. This is not surprising Essence
Mark Kuban also wanted to withdraw, but changed his mind after hearing his sales performance. He and Kevin Oli launched a fierce bidding battle. In the end, Mark won a 25% equity for $ 300,000.
After “Chuangzhi Win”
After reaching a transaction with Mark Cuban, Dude Wipes's sales of $ 3.2 million in that year. The billionaire investor also helped the product into more than 12,000 stores, including Target, Ralphs, Bass Pro Shops and Meijers.
In 2018, Wal -Mart chose the company to join its “Made in the United States” plan, which promised to purchase $ 25 billion in US -made products by 2023. These contracts have helped this booming company to launch more products, such as Chill Wipes and Dude Bomb.
In 2020, the annual sales of Dude Wipes were $ 40 million, and the revenue in 2021 was $ 67 million. Today, as the company does better than ever, this number is expected to grow. The business is currently worth $ 300 million and is one of the best investments for Kuban to the best investment in SHARK TANK. In 2023, the total retail sales reached US $ 341 million.
Categories: Shark Tank
Source: svlsf.edu.vn