Somnifix Shark Tank Update

Somnifix Shark Tank Pitch

Nicholas Michalak appeared on Shark Tank Season 10, Episode 20, which aired on April 21, 2019, with over-the-mouth single-use adhesive patch that helps mouth breathers sleep better.

Somnifix is listed in the Health SelfCare category. In plain terms, the business is described as over-the-mouth single-use adhesive patch that helps mouth breathers sleep better.

Somnifix asked the Sharks for $500,000 for 10%, implying a valuation of about $5 million.

On the show, Somnifix made a listed deal with Mark Cuban for $500,000 for 20%.

If treated as straight equity, the listed deal works out to about $2.5 million implied valuation, down from the original $5 million implied valuation.

This pitch is included as context for the more important question: what happened after Shark Tank.

Somnifix After Shark Tank

SomniFix accepted an on-air deal for its mouth strips, a sleep product meant to encourage nasal breathing and reduce mouth breathing. (SomniFix Shark Tank Update

The product continued selling after the episode, with the company keeping its focus on single-use adhesive strips for sleep and breathing routines. (SomniFix Shark Tank Update

The official store remains live, and SomniFix has stayed in the sleep and wellness category rather than turning into a broad consumer-health platform. (SomniFix website

Sources

Sources used for this page: Shark Tank API pitches