Site icon Browse Desk – Browse The Latest Unbiased News

NightCap Shark Tank: What Happened To Drink Spiking Scrunchie After Lori Greiner Shark Tank Deal !!

night cap shark tank

What Exactly Are Nightcaps?

Nightcaps are a gadget that may be used to provide effective protection when outside. It’s not your typical hairband; instead, it’s a bespoke design that can be wrapped around a glass to keep it from being poisoned or polluted.

Shirah Benard, a 16-year-old from West Palm Beach, came up with the concept. When Shirah was sixteen, she heard countless horror stories about alcohol spiking from her friends. Following that, the solution to her problem arrived in her dream. She made a prototype for her idea the next day by altering a pair of her mother’s pantyhose and tying it to a towel.

The drink cover is placed on top of cups or glasses, allowing a space for a straw to be inserted, preventing malicious substances from slipping into users’ beverages. While the organization cannot ensure safety in all alcohol-related situations, the Nightcap remains an important security and deterrence tool.

Who Are the Brains Behind Nightcaps?

The design was conceived by Shirah Benard, a 16-year-old West Palm Beach local. When Shirah was sixteen, she heard countless horror stories about alcohol spiking from her friends. Following that, the solution to her problem arrived in her dream. She made a prototype for her idea the next day by altering a pair of her mother’s pantyhose and tying it to a towel.

When her older brother Michael Benarde came to visit, he saw the prototype and fell in love with it right away. He saw the gravity of the issue as a college student and vowed to aid his sister in fulfilling its potential. For the next six months, the siblings worked together. Their business was funded by prizes from Florida State Entrepreneur College contests, a $12,275 Indiegogo campaign, and $18,000 from their parents.

Read More: InchBug /MyDrinky Shark Tank Update | InchBug /MyDrinky after the Shark Tank Pitch

The couple launched their website in September 2019. Since then, they’ve sold over 10,000 devices only through their website, in every state, and in over two dozen countries. Nightcap is extremely popular among college students and their parents. It also draws customers from a variety of agencies, including police, counselors, and women’s empowerment organizations.

Michael is in charge of distribution, while Shirah is in charge of product development and social media management. On its website, Nightcaps Scrunches come in a number of styles. Nightcaps are $11.99 per, with savings available for large orders, and $15.99 for a Nightcaps with a reusable straw package.

They’re also available in a four-unit family pack for $39.99, as well as straw kits for up to $51.99. They may also be found on Amazon. Only black was previously available in these flexible and lightweight scrunches.

What Happened at The Shark Tank Pitch for Nightcaps?

Due to their youth and lack of formal marketing background, Michael and Shirah are studying social marketing and SEO on their own, which has shown to be highly advantageous to their company development; nonetheless, they are wanting to partner with a Shark who can help them expand even faster.

Shirah and Michael want $60,000 in exchange for a 20% ownership in their firm, which is worth $300,000. Shirah and Michael want to broaden their investing portfolio. Their parents have invested in the company for the time being; otherwise, all money has come through crowdsourcing and contests.

The Benard brothers’ market research, product design, and patent work have satisfied the Sharks. They submitted for a utility patent for a beverage spiking device that is integrated into a wearable product and was awarded it. Lori Greiner jumps at the chance to invest in Nightcaps before the other Sharks. She claims that she has never been more passionate about a social cause than during her time on Shark Tank.

Lori then offers $60,000 in exchange for a 25% ownership in the company. The surviving Sharks press Shirah and Michael to accept Lori’s offer, saying they’d never seen Lori so enthusiastic about a product before. They agree right away and strike a deal with Lori Greiner.

After Shark Tank, What Happened to Nightcaps?

Michael, Shirah, and Lori completed the deal after the pitch, with Lori aiding them with internet shopping. As of 2021, Nightcap is still open for business. Nightcapit.com currently ships worldwide, accepts bulk/wholesale orders and is accessible in-store at about fifty locations across the United States and Canada.

Nightcap’s website features a shop locator for individuals who want to buy in person, and bulk orders may be customized. Nightcap is looking forward to expanding its reach and supporting consumers in avoiding alcohol intoxication. In September 2021, the company’s net revenues climbed by 68 percent to $8.6 million.

Read More: Kidrunner Shark Tank Update 2022: Hands-Free Running Strollers

Nightcaps’ Net Worth:

Lori purchased the firm for $240,000 and it was worth $400,000 at the pith.

Exit mobile version