Kinfield Update | Shark Tank Season 14

Nichole Powell headed into Shark Tank Season 14 to pitch her alternatives to traditional bug spray, Kinfield. Her goal was to make a cleaner bug spray that were chemical-free but were still effective. But would her company be worth an investment of $250,000 for just 5% equity? Let’s see what the sharks think before we jump ahead and give you the Kinfield update.

Shark Tank Kinfield Update

Kinfield update

  • Entrepreneurs: Nichole Powell
  • Business: Sunscreen and Clean Bug Sprays
  • Ask: $250,000 for 5% equity
  • Result: $250,000 for 10% equity
  • Sharks: Barbara Corcoran and Tony Xu

As soon as Nichole finished her pitch, the sharks wanted to know about the overall effectiveness of Kinfield’s line of bug-repellent products. According to an independent laboratory study that was conducted by Kinfield, the product can provide sufficient protection for just over three hours. 

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Though the product quality was not questioned, the imputed valuation of $5 million was not very popular with the sharks. Nichole told the sharks that she expects her company to reach more than $2 million in gross revenue by the end of the year. She also estimates that her customer acquisition cost is just over $25.

The sharks had several concerns about the profitability of the business and the success that it might generate in retail. Mark Cuban wasn’t interested at all, and dropped out.

However, Barbara Corcoran saw some potential and offered $250,000 for 10% equity and wanted a $2 royalty until the investment was paid back. Kevin O’Leary made a similar offer, but he only wanted 5% equity. He also wanted a $1.50 royalty until he receives $750,000 back.

Lori Greiner also jumped in to make an offer of $250,000 for 5%, with a royalty of $4 per unit until she got her investment back. Guest shark, Tony Xu, offered $250,000 for 10% equity.

After some more discussions, Tony offered to team up with Barbara for a deal of $250,000 for 10% equity. Nichole Powell decided to accept their offer. 

With two sharks on the team, let’s take a look at a Kinfield update. 

Being featured on Shark Tank Season 14 will likely benefit Kinfield in unimaginable ways. Her projected sales for 2023 skyrocketed and her company’s growth looks poised to continue, especially with Barbara and Tony on the team. 

As Nichole shared with the sharks, her ultimate objective is to one day possibly exit the company, and it looks like she is well on her way. When we get more news on a Kinfield update we will be sure to let you know. In the meantime, you can learn more on the official website. 

For more updates on companies from Shark Tank Season 14 Episode 11, be sure to check the links below.

Additionally, don’t forget to check out our Season 14 products page too!