Kids love playing with slime, but adults can also have fun with this squishy product. Sliimeyhoney makes slimes specifically for adults. They are a great stress reliever, and their scent can have a calming effect. Founder Mark Lin pitched the company on Shark Tank and landed a deal with Daymond John. As of 2024, Sliimeyhoney is valued at $750,000.
Who is Mark Lin?
Mark Lin is a young entrepreneur and social media marketer from Los Angeles. He is currently studying cognitive science and business economics at UCLA.
This savvy marketer has amassed a huge following on TikTok, which currently stands at over 997,500 followers. Mark has mastered the art of creating viral content and understands how the TikTok algorithm works. The company also has an Instagram account with around 71,000 followers.
Founded Sliimeyhoney
As a teenager, Lin started making clever slime designs as a hobby. It wasn’t a common hobby, but it helped him deal with stress. He soon realized it could become a serious business opportunity and started selling his creations.
The UCLA student sold his first slime on Etsy in 2018 and hasn’t looked back since. Made from glue, essential oils and borax, they smell great. His most popular designs are themed around food, but be warned, they’re not edible.
The company grew, and Mark hired some friends. In 2020, he launched a website to sell products directly to consumers. Lin applied to the show twice, but on his third try, he finally got a call from a producer on Shark Tank.
Shark Tank Appearance
Mr. Lin, who was only 17 at the time, marketed the product with enthusiasm and explained the benefits of his product well. Mr. Lin revealed that he sells more than 100 different slimes and runs the business out of his parents’ garage. His profits are lucrative, but he makes the products himself and helps pack the orders.
The Sharks were stunned by the sales figures, with Sliimeyhoney earning $50,000 in 2020, $580,000 in 2021 and $540,000 so far in 2022. Kevin O’Leary was the first to buy a 30% stake for $150,000.
Lowry and Cuban decided that Lin didn’t need an investor and withdrew. Daymond came in and offered $150,000 but only 25%. Lin countered by offering $150,000 but only 20%, and he eventually chose Daymond John.
After Shark Tank
The episode aired in December 2022, and Sliimeyhoney’s sales got a big boost from the publicity. The young man was already doing well enough that he didn’t need to bring in investors. With over $1.7 million in lifetime sales, it might make more sense to drop out of school and actually make it happen.
Lin’s main goal now is to find a warehouse and move the business out of his parents’ garage. He plans to enter large retail chains such as Target and Walmart.
Sliimeyhoney is only available on a few online platforms such as Etsy, TikTok store, and their official website Sliimeyhoney.com. Many of their products have a rating of 4 stars and above on their website. You can use the code “Sharks” to get a 15% discount.
Sliimeyhoney is valued at $750,000, with sales well over $600,000 in 2022. The deal with Daymond John has not yet been finalized, but unless Lin changes his mind, it should be done within a few months.
Categories: Shark Tank
Source: svlsf.edu.vn