The Mad Optimist update
|

The Mad Optimist Soap Update | Shark Tank Season 11

Entrepreneurs Mohamed M. Mandi, Mohamed A. Mandi, and Anthony Duncan pitched their soap company during Shark Tank Season 11. Mad Optimist makes soap that is safe for vegans and Muslims, as most traditional soap bars contain animal fat. Will a shark help them scrub up a deal? Find out in The Mad Optimist update.

If you’re short on time, here’s a quick overview of what happened to The Mad Optimist after Shark Tank!

Mohamed M. Mandi, Mohamed A. Mandi, and Anthony Duncan appeared on Shark Tank Season 11 and made a deal with Mark Cuban for $60,000 for 20% equity. In terms of The Mad Optimist update, the company is still in business and has since expanded its product line, leading to $1 million in annual revenue.

Shark: Result:
Mark Cuban Accepted deal for $60,000 for 20% equity
Lori Greiner  No offer 
Kevin O’Leary No offer
Robert Herjavec  No offer
Daniel Lubetzky No offer

Shark Tank Mad Optimist Update

The Mad Optimist update

  • Entrepreneurs: Mohamed M. Mandi, Mohamed A. Mandi, and Anthony Duncan
  • Business: Customizable vegan soap and body care products
  • Ask: $60,000 for 10% equity
  • Result: $60,000 for 20% equity
  • Shark: Mark Cuban

Founders of The Mad Optimist, Mohamed M. Mandi, Mohamed A. Mandi, and Anthony Duncan, created a soap that boasts several credentials that other soap brands cannot. Their soap is vegan-friendly, cruelty-free, non-GMO, and gluten-free.

Fir Needle Bar Soap
The Mad Optimist Fir-Ever Young Bar Soap

Designed to moisturize and cleanse hands, body, face, and hair, doubles as a shampoo bar soap.

We earn a commission if you make a purchase, at no additional cost to you.

As vegans and Muslims, they are opposed to using animal-based products. Unfortunately, they couldn’t find acceptable products for washing themselves with.

Thus, The Mad Optimist customizable soap was born! Customers go to their website, choose the body care item they want, and start selecting their preferences.

First, they choose the scent, then add-ins, and finally the packaging. Customers even get to decide what they can afford to pay for the product on the sliding price scale, which is a first for Shark Tank.

After the presentation, Kevin O’Leary and Mark Cuban immediately had questions. Specifically, they want to know why they choose to individualize each product, instead of manufacturing products in large batches.

Further, they ask about the sliding price scale. Anthony explains that the soap costs $4.50 to make, and the scale ranges from $6-$16, with the average selling price being $8.50.

Due to the sliding scale, however, customers are encouraged to pay whatever they can for the products.

Profit margins sit at about 50%, according to Anthony. However, in the prior year to filming, they’ve only had $21,000 in sales.

Further, their overall YTD sales are around $97,000. However, they’ve had $800,000 since they started making and selling soap together, which pre-dates their current company.

With recent sales being pretty low, Kevin calls them insane and is the first shark to go out.

Guest shark Daniel Lubetzky is the next shark to go out, but not before also wishing them the best of luck.

Lori Greiner explains that she loves the entrepreneurs, but doesn’t believe in the product. So, for this reason, she is out too.

Robert Herjavec states that the open market does not reward good intentions, it only rewards results. Further, he hates their business model, so he is out.

Mark advises that they start other businesses to focus on specific markets, but then eventually offers $60,000 for 25% equity, stating that he will not negotiate.

Regardless, the entrepreneurs counter with 18% equity and Mark came back with 20%.

Mohammed M. explains that they need to have a contingency of donating 100% of the proceeds of the day the show airs for Ashura. Mark agrees, and they close the deal for $60,000 for 20% equity.

So, where does that leave us for our The Mad Optimist update?

We have good news to report in The Mad Optimist update. The company is still in business and has grown to around $1 million in annual revenue.

Further, they still offer a sliding scale model for pricing. We did a test order and we were allowed to pay between $7-$16.

In addition to individual body care products, customers can also purchase already curated boxes. These make great gifts and is also a good way to try out several of the products at once.

Products are currently for sale on The Mad Optimist website and on Amazon.

If we get any more news for our The Mad Optimist update, we will let you know!

However, in the meantime, don’t forget to check out our other company updates from Season 11 Episode 24:

For even more on companies and products, be sure to stop by our Season 11 products page.

Website | + posts

Kimberly is a writer for Shark Tank Recap. She has written episode summaries and updates across multiple seasons of Shark Tank, with a focus on complete and accurate information since 2021. She believes that getting the business aspects of each deal correct is extremely important for viewers and fans. Her favorite Shark Tank products are The Wobbles and Rocketbook!