RinseKit Shark Tank Update

RinseKit Shark Tank Pitch

Chris Crawford and Eric Fagan appeared on Shark Tank Season 8, Episode 15, which aired on February 2, 2017, with Pressurized and fully portable shower system.

RinseKit is listed in the Travel Auto category. In plain terms, the business is described as Pressurized and fully portable shower system.

RinseKit asked the Sharks for $250,000 for 5%, implying a valuation of about $5 million.

On the show, RinseKit made a listed deal with Daymond John for $250,000 for 10%.

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.

RinseKit After Shark Tank

RinseKit accepted an on-air Shark Tank deal for $250,000 for 10% equity and remained one of the stronger Season 8 product businesses. (RinseKit Shark Tank Blog update

Follow-up reporting puts post-show sales at about $20 million. (RinseKit Shark Tank Blog update

RinseKit expanded into more than 600 retailers, including REI, and continued adding new portable shower models. (RinseKit Shark Tank Blog update

The company is still active through its official site, selling portable rinse and shower systems for surf, camping, pets and outdoor use. (RinseKit Shark Tank Blog update

Sources

Sources used for this page: Shark Tank API pitches