The Man Wipes brand showed up on the fourth episode of the seventh time of Shark Tank. The idea was to make a line of moist disposable clothes designated explicitly at guys. The thought for the tank came from a gathering of dearest companions from the Chicago district who concocted it.
The idea was imagined while the amigos were in school and perceived that there was no line of sterile wipes that was explicitly promoted to guys and intended to meet their extraordinary requirements. Fella Wipes was one of those magnificent pitches that had the sharks gnawing at the piece to give an arrangement to the organization behind it.
Dude Wipes Net Worth
Ironically, Mark Cuban was the first shark to walk away from the deal, saying he miscalculated the amount of marketing money required. Unexpectedly, Kevin O’Leary is interested in the company’s past sales.
The trio tell them they’ve made $300,000 in sales so far and have a distribution deal with Kroger stores in the United States. Both Robert and Kevin are intrigued by this, but Lori and Barbara are concerned about the “resistance” of the product and decide to back off.
As Robert and Kevin negotiate deal deals, Mark returns to the tank with an offer of $300,000 for 25% equity, which the Dude Wipe boys happily accept.
Guy Erases History
Dude Wipes was founded in 2010 by childhood friends Sean Riley, Brian Wilkin, Ryan Meegan and Jeff Klimkowski, who worked from their hometown of Chicago, Illinois to develop the product. A washable personal wipe designed exclusively for men and marketed as an alternative to regular baby wipes.
The product was introduced in 2010. Consumers first accessed the product in 2012, when it was available in stores and online. The product is now available in Kroger, Target, Meijer, Ralphs and Bass Pro Shop stores nationwide. Thanks to their appearance on the 2015 ABC reality TV show Shark Tank, the creators of Dude Products were able to receive a $ 300,000 investment from Dallas Mavericks owner Mark Cuban, who acquired a 25% ownership in the company.
As part of Walmart’s Made in the USA program, which aims to purchase US-made products worth $ 250 billion by 2023, Dude Products was selected by the retailer for nationwide distribution in 2018.
The Dude Wipes company made $3.2 million in its first year after signing a deal with Mark Cuban, according to information shared in a Shark Tank Season 8 update. Plus, their items are now available at places like Target and Walgreens. It is estimated that their total revenue in 2020 will be close to $30 million.
The COVID epidemic and the resulting shortage of towels and other sanitary napkins are believed to be responsible for the significant increase in sales. In 2020, the Dude Wipes team took advantage of the reduced digital advertising costs that resulted from so many advertisers avoiding pay-per-click ads during the pandemic.
As a result, the Dude Wipes brand continued to thrive. It was a business worth around $1.2 million. But this value has reached a double-digit value of one million companies.