Richualist Shark Tank Update

Richualist Shark Tank Pitch

Richualist appeared on Shark Tank Season 15, Episode 19, which aired on April 5, 2024, with Hair styling tool.

Richualist is listed in the Clothing Fashion category. In plain terms, the business is described as Hair styling tool.

Richualist asked the Sharks for $150,000 for 10% equity, implying a valuation of about $1.5 million.

On the show, Richualist made a listed deal with Mark Cuban for $150,000 for 15% equity plus 5% advisory shares.

If treated as straight equity, the listed deal works out to about $1 million implied valuation, down from the original $1.5 million implied valuation.

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

Richualist After Shark Tank

Richualist accepted an on-air deal for $150,000 for 15% equity plus 5% advisory shares. After filming, that deal closed. (Richualist Shark Tank Update – Shark Tank Season 15

As of May, 2024, the product is still only available on a pre-order basis with delivery in September, 2024. (Richualist Shark Tank Update – Shark Tank Season 15

Richualist at the time of writing (April 2024), the next batch of products will ship in September 2024. (Richualist Shark Tank Update – Shark Tank Season 15

Here’s what has happened so far; In the weeks after the episode aired, Richualist saw a jump in revenue, with sales quadrupling compared to before the show. (Richualist Shark Tank Update – Shark Tank Season 15

Sources

Sources used for this page: sharktankblog.com