SoaPen Shark Tank Update

SoaPen Shark Tank Pitch

Amarat Anand and Shubham Issar appeared on Shark Tank Season 13, Episode 4, which aired on October 29, 2021, with colorful soap filled pen.

SoaPen is listed in the Accessories Gadgets category. In plain terms, the business is described as colorful soap filled pen.

SoaPen asked the Sharks for $100,000 for 10%, implying a valuation of about $1 million.

On the show, SoaPen made a listed deal for $100,000 for 10% + $1 royalty until $200,000 is repaid.

If treated as straight equity, the listed deal works out to about $1 million implied valuation, roughly the same implied valuation as the ask.

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

SoaPen After Shark Tank

SoaPen accepted an on-air Shark Tank deal for $100,000 for 10% + $1 royalty until $200,000 is repaid. Later follow-up coverage says the deal did not close. (SoaPen Shark Tank Update - Soap That Kids Can Draw With

SoaPen was reported at about $1 million in annual revenue. (SoaPen Shark Tank Update - Soap That Kids Can Draw With

In February 2022, the company raised $150,000 in a seed funding round from MassChallenge. (SoaPen Shark Tank Update - Soap That Kids Can Draw With

The company did open an Amazon store and began offering wholesale products and a teacher’s discount. (SoaPen Shark Tank Update - Soap That Kids Can Draw With

In October 2023, SoaPen introduced 2 new colors: pink and purple. (SoaPen Shark Tank Update - Soap That Kids Can Draw With

SoaPen remains active online through soapen.com, which serves as its current storefront. (SoaPen website

Sources

Sources used for this page: Shark Tank API pitches