Working with greasy bikes and cars can be a messy job. That’s why Tim Stansbury and Erin Whalen have created a wet wipe that makes grease removal a breeze. Will they earn a deal on
Shark Tank Grease Monkey Wipes Update
- Entrepreneurs: Tim Stansbury and Erin Whalen
- Business: Wipes that remove grease and other stains
- Ask: $40,000 for 40% equity
- Result: $40,000 for 40%
- Shark: Robert Herjavec and Barbara Corcoran
Tim and his business partner Erin, entered
Extremely versatile wipes perfect for cleaning when soap and water is not available. Individually packaged wipes ideal to put in saddle bags, toolboxes, emergency repair kits, hydration packs, glove compartments, shooting vests, backpacks, desk drawers or even a pocket.
Kevin O’Leary wanted to know what the grease-removing component was, and Tim told him it was citrus oils.
Kevin O. then wanted to know if they had a patent on any aspect of Grease Monkey Wipes. Tim said they didn’t because they lacked the resources and because they wanted to safeguard the formula as long as possible.
When asked about sales, they shared that after just a few months on the market, they had sold 7,600 units, resulting in $7,400 in gross revenue.
Each unit was sold for only $1 each. and Kevin O. didn’t think that was sustainable. However, Tim and Erin explained that the sales volume was expected to fully make up for the price.
Daymond John said that he loved the brand, but he wasn’t interested in investing so he went out.
Kevin O. went out because the business lacked proprietary products. Kevin Harrington followed because he didn’t think the product was unique enough.
Barbara said she liked the product and their approach, but she wasn’t known for getting her hands dirty so she went out.
Robert Herjavec was the last shark, and he was hesitating. However, Erin and Tim were able to convince him to get on board. This made Barbara want to join back in, and she offered to split the deal with Robert.
Barbara and Robert offered Erin and Tim $40,000 for 40% equity and their offer was accepted. What do you think happened after that? Keep reading our Grease Monkey Wipes update to find out!
Our Grease Monkey Wipes update found some great news. The product was so successful that Tim ended up buying out the sharks and Erin a few years after airing on
He then sold the company in 2014 to Beaumont Products for an undisclosed amount. Grease Monkey Wipes can be found on the Beaumont Products website and also on Amazon.
Are you interested in the other companies that appeared in Season 1 Episode 12? Check out the links below to see how they did during their time on the show.
For even more on companies and products, be sure to stop by our Season 1 Products Page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!