DrainWig Shark Tank Update

DrainWig Shark Tank Pitch

Jennifer Briggs and Gifford Briggs appeared on Shark Tank Season 9, Episode 6, which aired on October 29, 2017, with Hair-catching drain plug.

DrainWig is listed in the Lifestyle Home category. In plain terms, the business is described as Hair-catching drain plug.

DrainWig asked the Sharks for $300,000 for 5%, implying a valuation of about $6 million.

On the show, DrainWig made a listed deal with Kevin O'Leary for $300,000 for 15%.

If treated as straight equity, the listed deal works out to about $2 million implied valuation, down from the original $6 million implied valuation.

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

DrainWig After Shark Tank

DrainWig's on-air deal with Kevin O'Leary closed, which is notable because many Season 9 deals later fell apart off-camera. (DrainWig Shark Tank Update

After the show, the hair-catching drain product kept shelf space in major big-box retail and on Amazon, giving it a durable channel beyond the original TV spike. (DrainWig Shark Tank Update

Outside update reporting put annual revenue around $1 million in 2023, which fits the picture of a steady utility product rather than a flash-in-the-pan Tank item. (DrainWig Shark Tank Update

Sources

Sources used for this page: Shark Tank API pitches