Soapen is a firm that was launched by Amarat Anand and Shubham Issar. The entrepreneurs appeared on the 13th season of the popular documentary show on ABC, Shark Tank.
They have a considerably unique and creative business concept that they hoped would impress the Sharks to give them a deal of $100,000 in exchange for 10% of the firm.
Was the business concept creative and unique enough to catch the attention of the Sharks? Let us find out how SoaPen has managed to achieve a net worth of more than $2 million?
SoaPen is a soap sanitizer startup firm that is used to make colorful soap for children. Notably, the colorful soap comes in the form of a pen. These pens are safe and children can take them to school.
Children can then use this soap to sanitize throughout the school day. Their goal is to make hand-washing fun for children regardless of their age. You can learn more about the brand and the products it has to offer by watching this video.
How Was The Soapen Firm Launched?
The COVID-19 pandemic exposed the hard truth that people do not wash their hands for the recommended 20 seconds.
Shubham Issar and Amarat Anand manufactured SoaPen to make hand washing a lot more fun and enjoyable for children. The idea started to create a soap that can be used as an efficient crayon. Someone could draw on a child’s hand, and then the child could wash it off, and in turn, use it as soap.
You can learn a lot more about this brand by following their Instagram account.
Shark Tank Appearance
Amarat and Shubham are from India. They traveled all the way halfway around the world to the United States to appear on Shark Tank with hopes of getting to secure a deal from any of the Sharks.
To their shock, the Sharks were quite impressed by the concept. The investors walked away with a deal of $100,000 in exchange for 10% of the company plus a $1 royalty until $200,000 is repaid. Nirav Tolia offered them this deal, and they could not say no.
Today, SoaPen has grown into a bigger firm, offering more products. They have extended their product line to kid-friendly hand sanitizer gel and much more. Their products are available for purchase from Amazon and directly from their online store.