Kinfield Valuation – How are they doing after Shark Tank?

If you love the outdoors, then insect repellent, sunscreen, and anti-itch cream are all products you should use. However, they often contain ingredients that are harmful to the user and the environment. Powell pitched her business on Shark Tank and landed a deal with Barbara Corcoran and Tony Xu. Currently, Kinfield is valued at $4 million.

Nichole Powell’s Background

Nichole Powell is originally from San Francisco and graduated from the University of Wisconsin-Madison with a degree in Political Science. She also spent a semester abroad at the London School of Economics.

After graduation, Powell began working as a marketing assistant at Intuit in 2014. Two years later, she founded the lifestyle brand Who Goes Wear. Although the company developed a following online, it was not a financial success. Nicole returned to Modern Citizen as director of business development.

Founding Kinfield

Growing up, Powell loved outdoor activities, but he noticed that regular skin care products hadn’t changed over the years.

Her mosquito repellent contained a chemical compound called DEET, which no one wanted to use because of its negative impact on the planet, so she traveled the world to develop a mosquito repellent that didn’t contain DEET.

After making her first product, Kinfield launched in 2018 and raised $2.1 million in seed funding from six investors. Her DEET-free mosquito repellent was so popular that it sold out three times.

Appeared on Shark Tank

Nichole’s products have been featured in publications like Bon Appétit and The New York Times. With early success, she branched out deeper into skincare. The startup launched products like lip balm, hydrating masks, and sunscreen.

As the company scales, it needs more funding to keep up with customer demand. Nicole Powell was selected from thousands of applicants to be cast for Season 14, and she hopes to raise $250,000 for a 5% stake.

The product was so profitable that it sparked a bidding war. Of course, Mr Wonderful wanted royalties, but Barbara and Tony won with a straight equity deal. Luckily, it was Tony Xu who came on the show, not Daymond John. Sometimes he gets mad when companies raise money early.

After Shark Tank

Many skin-care companies have appeared on Shark Tank, but only a few have been successful. The publicity from the 4 million live viewers should help Kinfield sell at least $100,000 worth of products.

If you like their products, you can buy them through Kinfield.com. To entice fans to spend money, they are offering a $22 discount on the Shark Tank set, which normally retails for $100.

You can also find them at stores like Goop, Urban Outfitters, Anthropologie, Madewell, Credo, Grove Collaborative, and Free People. Gwyneth Paltrow was unable to be a guest on the episode because it would have created a conflict of interest.

On CredoBeauty.com, their original mosquito repellent has an average of 4.6 stars out of 176 reviews. With a valuation of $4 million as of 2024, Kinfield’s future looks bright! It appears that the deal with Barbara Corcoran and Tony Xu was completed within six months of the show airing.



Categories: Shark Tank
Source: svlsf.edu.vn