Beard King Update | Shark Tank Season 7

Nicholas and Alessia Galekovic were frustrated with the mess from shaving. Every time Nicholas trimmed his beard, tiny hairs scattered all over the sink, and Alessia had to clean them up. They wanted an easy way to keep the bathroom clean. As a result, they created Beard King, a bib that sticks to the mirror and catches hair, making shaving neat and cleanup simple. Will the sharks invest? Let’s see in our Beard King update and pitch recap.

If you’re short on time, here’s a quick overview of what happened to Beard King after Shark Tank.

Nicholas and Alessia entered Shark Tank Season 7, seeking $100,000 for 20% equity in their grooming products business. After their pitch, they struck a deal with Lori Greiner for $100,000 for 45% equity.

In terms of a Beard King update the company capitalized on viral marketing to drive significant growth despite its deal with Lori Greiner falling through. Furthermore, Beard King expanded its product line beyond the Beard Bib, introducing beard oils, washes, and other grooming accessories.

Shark	Result
Lori Greiner	Accepted offer of $100,000 for 45% equity
Chris Sacca	No offer
Kevin O’Leary	No offer
Robert Herjavec	No offer
Mark Cuban	No offer

Shark Tank Beard King Pitch

• Entrepreneurs: 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

Nicholas started their pitch by explaining how beard hair gets all over the sink and counter. Alessia added that cleaning it up is frustrating.

Guest shark Chris Sacca related to the issue and joked that Alessia sounded like his wife.

The couple then showed a video of the Beard Bib in action, and this amused the sharks.

The product sticks to a mirror and catches beard trimmings, making cleanup easy. They wanted to fix the mess shaving leaves behind and give people a simple way to keep their bathrooms clean.

Chris liked that they had lived with the problem and solved it together. They have made $140,000 in eight months, with $80,000 coming from a viral video that got over 20 million views.

Mark Cuban found the video hilarious. Nicholas explained that viral marketing was his strength and had helped their business grow fast.

The entrepreneurs revealed that it cost them $7 to make each bib, and they sold it for $29, which gave them a strong profit.

Kevin O’Leary agreed the margins were good. Alessia added that with a shark’s help, they could make them even better.

Nicholas added that they could reach 85% profit margins with better manufacturing and distribution.

They revealed that 60% of their customers were women buying it for husbands, boyfriends, or sons.

Despite their success, Mark wasn’t convinced. He said their strong sales and profits should allow them to grow on their own.

Nicholas admitted that for the first seven months, their profits were only 40%, but they had improved.

Robert Herjavec agreed that manufacturing was a challenge but didn’t see how his money would help them grow faster. He is the first shark out.

Mark said their focus was too narrow, so he exited the negotiations.

Kevin thought the beard bib was fun but didn’t see it turning into a big business.

He also pointed out that Beard King’s other products, like beard oils and combs, were already sold by other companies.

Alessia pushed back, asking if he had ever seen a beard bib before. Instead of answering, Kevin asked how he would get his money back.

When Alessia told him to invest in them as entrepreneurs, he dropped out.

Chris liked the product but said he didn’t invest in one-off consumer items, so he passed.

Lori Greiner liked the product but wasn’t sure if it would last long-term. Nicholas asked her to make an offer before backing out.

Eventually, Lori offered $100,000 for 51% equity. She explained that while she liked the product, she wanted control to make sure it succeeded.

Alessia countered with 45%, saying they had done a great job with branding and marketing. To lighten the mood, they gave Lori a Beard King shirt and a surprise gift.

After some consideration, Lori accepted the deal at 45% equity, sealing the deal.

Let’s get a Beard King update to see where the company is today.

Shark Tank Beard King Update

Our Beard King update found that the agreement with Lori Greiner was not finalized post-show due to undisclosed reasons.

Despite this, Beard King experienced significant growth, largely due to viral marketing efforts.

The company expanded its product line to include beard oils, washes, and other grooming accessories.

However, in 2019, entrepreneur Raj Patel acquired Beard King from the Galekovics for an undisclosed amount.

In September 2022, Patel sold Beard King to Thrasio, a company known for acquiring and scaling e-commerce brands.

At the time of writing, Beard King’s products, including the original Beard Bib, are available for purchase on Amazon.

Their website, thebeardking.com, redirects to their Amazon store, suggesting that it is no longer functional.

If we get another Beard King update, we will let you know.

Make sure to stop by our other company updates from Season 7 Episode 14. You can find them here:

• Fixed Update
• Hatch Baby Update
• Village Scholarships Update

Before you go, be sure to check out our list of all the Shark Tank Season 7 products.