Mad Rabbit Shark Tank Update

Mad Rabbit Shark Tank Pitch

Oliver Zak and Selom Agbitor appeared on Shark Tank Season 12, Episode 18, which aired on March 26, 2021, with tattoo aftercare lotion that prevents tattoo fading.

Mad Rabbit is listed in the Health SelfCare category. In plain terms, the business is described as tattoo aftercare lotion that prevents tattoo fading.

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

On the show, Mad Rabbit made a listed deal with Mark Cuban for $500,000 for 12%.

If treated as straight equity, the listed deal works out to about $4.2 million implied valuation, down from the original $10 million implied valuation.

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

Mad Rabbit After Shark Tank

Mad Rabbit accepted Mark Cuban's offer and became one of the stronger Season 12 outcomes. The company turned a tattoo balm pitch into a broader tattoo-care brand. (Mad Rabbit Shark Tank Update

By July 2021, update coverage put annual revenue around $3 million. In February 2022, the company raised another $4 million from investors including Mark Cuban, Acronym, Rise of the Rest, LB Equity, Seamless, Stefon Diggs, Riff Raff, and Yelawolf. (Mad Rabbit Shark Tank Update

Mad Rabbit later expanded into Urban Outfitters stores and now sells a wider tattoo-care catalog that includes balm, sunscreen, gel, body wash, numbing products, and aftercare bundles. (Mad Rabbit Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches