Nerdwax Update | Shark Tank Season 7

Don Hejny was at home in Nashville when he got tired of his glasses sliding down his nose all day. To fix this, he created Nerdwax, a beeswax-based ointment that keeps glasses in place with a quick swipe on the nose pads or bridge. It helps people wear their glasses comfortably without constantly pushing them up. Will the sharks back this simple solution? Let’s find out in our Nerdwax update and pitch recap.

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

Don and Lydia entered Shark Tank Season 7, seeking $80,000 for 20% equity in Nerdwax. Unfortunately, after their pitch, they couldn’t convince the sharks to make an offer.

In terms of a Nerdwax update, the company rejected advice to change its product size and pricing, sticking to its original $10 long-lasting tubes while focusing on brand growth. In 2023, the company had expanded globally and reached $2 million in annual revenue.

Shark	Result
Troy Carter	$80,000 as a loan, to be repaid at $120,000 with 10% equity
Kevin O’Leary	$80,000 as a loan, with a 10% royalty until he recouped $240,000, plus 3% equity.
Mark Cuban	No offer
Lori Greiner	No offer
Daymond John	No offer

Shark Tank Nerdwax Pitch

• Entrepreneurs: Don Hejny and Lydia Hejny
• Business: Wax that prevents glasses from slipping off
• Ask: $80,000 for 20% equity
• Result: No deal
• Shark: None

Stepping into Shark Tank, Don and Lydia introduced Nerdwax, a beeswax-based product designed to keep glasses from slipping down the nose.

They explained that the wax is made from all-natural ingredients, making it safe for everyday use without causing skin irritation.

It works by applying a thin layer to the nose pads or bridge of glasses, creating a non-slip grip that lasts for hours.

Their product isn’t just for prescription glasses—it also benefits people who wear sunglasses, especially those who work outdoors and deal with sweat throughout the day.

The Hejnys shared that Nerdwax operates as a direct-to-consumer business, selling tubes online for $10 each and to wholesalers for $30.

Guest shark Troy Carter asked about manufacturing costs, and Don revealed that each tube costs only $0.35 to make, impressing the sharks with their high-profit margins.

Mark Cuban then asked about total sales, and the couple shared that they had made $136,000 in revenue within a year, with $65,000 in profit.

However, Mark expressed concern about the company’s long-term sustainability once the media buzz faded.

Daymond John followed up by asking about customer reorders, wanting to know whether buyers were making repeat purchases.

Don explained that a single tube lasts six to eight months. While reorders had begun, they were still in the early stages of building long-term customer retention.

Kevin O’Leary, however, saw this as a flaw, arguing that the product lasted too long for consistent repeat sales.

He suggested that the Hejnys reduce the tube size and lower the price to attract new customers. This approach could also encourage more frequent reorders.

Lori Greiner agreed, believing smaller tubes would drive more sales, while Mark disagreed, warning that rushing growth could harm a small business.

Daymond ultimately felt that the company was in its early stage and didn’t actually need an investment, so he bowed out.

The Hejnys then clarified their reason for seeking funding; they needed working capital to expand operations and sustain growth.

Meanwhile, Kevin offered $80,000 as a loan, with a 10% royalty until he recouped $240,000, plus 3% equity.

Before they could respond, Mark dropped out, advising them against reducing their product size too soon.

Troy, who had been listening carefully, said he liked investing in early-stage companies and offered $80,000 as a loan, to be repaid at $120,000 with 10% equity.

After Mark’s advice and their deliberation, they decided not to take either deal.

Let’s see how things have gone for the company in our Nerdwax update.

Shark Tank Nerdwax Update

Our Nerdwax update found that within 72 hours of the episode airing, they generated $150,000 in sales. In 2016, sales approached $1 million.

The company expanded its product line to include items like “Magic Drops” cleaning solutions and specialized cleaning cloths.

They also introduced a slimmer tube with a slanted edge for easier application, maintaining the $10 price point.

Don and Lydia Hejny kept their original pricing, selling long-lasting tubes for $10. They ignored Kevin O’Leary and Lori Greiner’s advice to make the product smaller and cheaper.

According to the Nerdwax website, they are now available in retail stores worldwide, including locations as far as Thailand.

At the time of this writing, Nerdwax reported annual revenues of $2 million.

We can’t wait to bring you another Nerdwax update.

How did the other companies featured in Season 7 Episode 3 do? You can find out in our other company updates:

• Foot Cardigan Update
• ValPark Mobile Update
• The Two Guys Bowtie Company Update

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