Until Browndages appeared on the scene, conventional band-aids blended in effectively with lighter skin tones while standing out sharply against darker skin tones.
In this through Browndages Shark Tank update, learn how the business was founded and about their achievements both before and after their appearance on television.
What is Browndages and Who is Browndages' S Owner?
What shade is the traditional bandage used to conceal a cut, a scar, or some other type of skin damage? Your response from Browndages will be “The Color of My Skin.” Bandages, Pyjamas, bag covers, and other items are offered by the skin tone bandage brand Browndages.
Mrs. Intisar Bashir and Mr. Rashid Mahdi, a creative and innovative couple, are the co-founders of Browndages.
Current Net Worth of Browndages
Browndages was on Shark Tank and is presently valued at $140,000, as per the current-online.
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What Took Place at Shark Tank?
The co-founders enter the shark tank with an offer of $75,000 for 7.5% of the company. Rashid has begun highlighting the value of their goods by contrasting the color of their bandages against his skin. The judges looked at the color-toned bandages after Rashid's presentation. Then Mr. Wonderful and Daymond start to wonder what prevents big businesses from offering the same product.
Conversation leads to sales statistics. According to Intisar, their sales increased as a result of the “Black Lives Matter” theme and the financial challenges they encountered in acquiring supplies for steady sales. The company's statistics show that its monthly revenues range from $7,500 to $10,000. Selling a single item brings in between $2.5 and $3.3 for Rashid and Intisar.
The size of the business is too large in Robert's opinion. I'm Out, he declares. All three sharks accept Rashid's counteroffer of 25% equity for $100,000 plus a $75k credit line in exchange for Lori, Mark, and Daymond' s $100,000 for 30% equity offer.
How Did Browndages Fare After Appearing on the Shark Tank?
Browndages benefits from the appearance at the shark tank in many ways than just money. Following the airing of the show, Browndages‘ s Facebook page saw traffic, and by 2022, it had over 76,000 Instagram followers. The neighborhood has flooded the business. The company has a strong net worth of $140,000 and is continuously operating.
Rashid and Intisar have left their full-time positions. With the assistance of their family friends, Rashid is now managing and growing the company while Intisar focuses on customer service.
Shark tank bargains that are successful raise the bar for online product sales and reach a peak on social media (Facebook page, Instagram) platforms. The business is experiencing an increase in demand, and the charming pair intends to take their enterprise to additional US states.
Frequently Asked Questions
When did Browndages start out?
Intisar Mahdi and her husband Rashid founded Browndages in 2018 with the goal of improving life for their family. From their home in Columbus, Ohio, Intisar told Vogue that the bandages they were buying did not fit the flesh of their family. We decided to create our own company, they explained.
Did Shark Tank result in a deal for Browndages?
With Lori Greiner, Daymond John, and Mark Cuban, Browndages did indeed strike a deal for $100,000 in exchange for 25% equity and a $75,000 line of credit. The creator originally valued the company at $1 million, which was $600,000 less than the valuation of $400,000.
Who made a Shark Tank investment in Browndages?
For a 25% stake, Mark Cuban, Daymond John, and Lori Greiner each contributed $100,000. Additionally, they consented to extend a $75,000 line of credit. Thus, the Sharks were able to boost stock by 12.5% over what the founders had originally requested.