Water bottles are handy to have but they can be impossible to keep clean. Dishwashers don’t do a good job of cleaning them so Justin Koehneke and Seth Friedman decided to come up with a solution to this common problem. Will their cleaning tablets get them a deal on
Shark Tank Bottle Bright Update
- Entrepreneurs: Justin Koehneke and Seth Friedman
- Business: Cleaning tablets for water bottles
- Ask: $75,000 for 15% equity
- Result: $75,000 for 33.3% equity
- Sharks: Lori Greiner
Justin and Seth explained that as mountain bikers, they needed a way to keep their water bottles clean and the dishwasher was not doing the job. Their Bottle Bright tablets were a healthier and more sanitary way of cleaning any personal drinking device. Their tablets cleaned the bottles without any scrubbing and didn’t leave an aftertaste like many dishwashing detergents on the market.
SAFE & ENVIRONMENTALLY FRIENDLY CLEANING TABLET: Free of any harmful added ingredients and is safe for the nature around you. PERFECT FOR COFFEE TUMBLERS & WATER BOTTLES: removes stubborn stains and odors giving your tumbler or bottle a new and fresh look and smell.
They started out by talking about their company’s past sales numbers. In the previous year, they managed to gross $110,000 in total sales and have already reached $85,000 in sales at the time of their pitch. A single pouch of cleaning tablets can be produced by Bottle Bright for $0.79, while it retails for $5.99. While the margins were reasonable, the sharks were still concerned about the lack of sales that the company had generated during its first three years of existence.
Kevin O’Leary hated the idea and wanted nothing to do with it, so he dropped out first. Robert Herjavec didn’t see the product demand, so he went out next. Barbara Corcoran and Mark Cuban went out as well, due to sales numbers. Lori Greiner however believed this was a needed product and that she could help get it into Bed Bath & Beyond. She offered $75,000 for 35% equity.
Justin and Seth countered Lori for 25%, to which Lori countered back at 33.3% equity. After a moment, they accepted her offer of $75,000 for 33.3% equity. What happened next for this business? Keep reading our Bottle Bright update to find out!
Our Bottle Bright update reveals some mixed news. The company made its way into stores like Bed Bath and Beyond, but a 2016 deal saw the brand get sold to another firm. The company’s official website is still online but it’s unclear if Seth and Justin are still a part of the company after the acquisition. Products can be purchased on the Bottle Bright website and on Amazon.
Are you interested in finding out more about the other companies featured on Season 6 Episode 14? Follow the links below for our other company updates from this episode.
For even more on companies and products, be sure to stop by our Season 6 Products Page!