Beard King Update | Shark Tank Season 7
Tired of cleaning beard clippings off of your sink? Beard King’s signature product might be able to help. Nicholas and Alessia Galekovic developed the Beard King bib to solve this problem. This bib attaches to the mirror and stretches over to you, so it catches all of your beard trimmings. What will the sharks think of this very serious product in
Shark Tank Beard King Update
- Entrepreneur: Nicholas and Alessia Galekovic
- Business: Beard “bib” and other products
- Ask: $100,000 for 20% equity
- Result: $100,000 for 45% equity
- Shark: Lori Greiner
Alessia was tired of cleaning beard trimmings off the sink. Together with her husband, Nicholas, they started Beard Big. This beard-shaving bib had $80,000 in sales at the time of filming, mostly due to a viral video they produced. Each bib cost $7 to make, and they sold for $29.
They needed the money, they said, to scale manufacturing to meet demand. They had a patent-pending, and some wholesalers had approached. Unfortunately, with their setup, Beard Bib couldn’t fill larger orders.
Robert Herjavec was the first shark to drop out. Based on their sales, he said they could bootstrap the company. Mark Cuban wanted to see more products, so he went out too.
Kevin O’Leary, who had some experience with beards, said it was a ‘beard diaper’. It’s a product, not a company. He went out. Guest shark Chris Sacca doesn’t know how he would help, so he went out too.
Lori Greiner, on the other hand, understood the struggle and that most of the clean-up fell on women. Lori said she’d need 51% because of the risk. Nicholas countered with 45%, and Lori agreed. So how is the company doing? Keep reading our Beard King update to find out.
Research for our Beard King update revealed that the deal with Lori never closed, and the business was purchased in 2019.
The Beard King Bib is available online at Walmart. In 2022, annual revenue is estimated to be around $1 million.
Make sure to stop by our other company updates from Season 7 Episode 14. You can find them here:
Before you go, don’t forget to check the other company and product updates on our Season 7 Products Page.
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