Good hygiene is attractive to the opposite sex. This is why men pay attention to their personal hygiene today. The father and son Steve and Josh King promoted the idea through their startups. They reached an agreement with Mark Cuban and Lori Greiner on the shark tank. Today, Mansced is worth $ 750 million.
Founder
Although Steve and Josh King pitch on Shark Tank, Paul Tran is the co -founder. He is a Vietnamese entrepreneur living in Las Vegas. Tran participated in USC, where he studied at business and engineering schools.
When he grew up, he was very difficult to be immigrant and could not speak English. Even so, he still managed to enhance his creativity and study a number of businesses in depth.
One of his most successful business is the IDK of the Innovation Lab. Through his efforts, he became a partner of Pipeline's funding partner of Steve Kim and his son Joshua.
Build human beings
In the past ten years, self -care products have mainly revolved around soap and facial cleanser. The market is more inclined to target female consumers, and male products are usually ignored.
Paul Tran carefully discovered this gap and wanted to start a company selling high -quality male beauty products. He encountered the word “Manscaping” and used it as the basis of his brand, which was officially launched in 2016.
Tran began to sell sanitary kits with products such as grass, crop preservation, and crop gospelist. Steve and Josh King later joined Paul as co -founders. They helped Mansced to sell 3,000 products and revenue about 1.5 million US dollars in its first year.
The appearance of the shark tank
In 2018, Steve and Josh represented the 10th season of Shark Tank. These guys demand 7 % of the equity of $ 500,000. They introduced packaging, including eight different products.
The NBA veteran Charles Barkley is a guest investor. This will be an excellent opportunity to promote the product to the sports industry, but Barkley is the first person to refuse the offer.
Mark Cuban, a billionaire, showed some interest and asked to cooperate with Lori Greiner. They teamed up with a 25 % $ 500,000. After several discussions, entrepreneurs accepted the proposal of Lori and Mark.
After the shark tank
According to Bloomberg, the transaction with Mark and Lori was not over. Despite the setbacks, the exposure of the show has brought good driving force.
MANSCED cooperation with different sports to promote its brands, including UFC and the King of Los Angeles NHL team. In 2019, this startup has received $ 500,000 from Longley Capital, Gainels and Wharton Alumni Angels.
In 2021, Manscate announced that it was disclosed by the SPAC protocol obtained with the bright lights, and the merging entity attaches importance to up to $ 1.4 billion. On August 18, 2022, the two companies canceled the IPO on the grounds of weak market conditions.
The business has not been profitable. In 2021, their revenue was $ 297 million, but according to Yahoo Finance, net loss was $ 315 million. In 2023, MANSCED's prediction revenue exceeded $ 500 million. At present, Mansced is estimated to be worth $ 750 million.
Categories: Shark Tank
Source: svlsf.edu.vn