It’s extremely annoying when your glasses slide off, so Don and Lydia Hejny came up with a solution and brought it to S
Shark Tank Nerdwax Update
- 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
Don and Lydia entered the tank with their kids. Together, the family gave a great pitch about Nerdwax, which applied easy and keeps your glasses on your face, even when you’re sweating. The couple made Nerdwax right in their kitchen at home after a manufacturing disaster. They needed the help of a shark to scale their business.
- Nerdwax is an anti-slip eyewear retainer - turns any glasses into non-slip glasses by creating a layer of friction between your glasses and skin. Apply when needed - keeps your glasses in place 1 hour to all day depending on how much you apply.
The sharks used their Nerdwax a bit skeptically, but it seemed to go okay. Don explained that each tube costs $0.35 to make and that each sold for $10. They last between 6 and 8 months. In the first year of sales, they made $136,000.
Lori Greiner didn’t see a way to make her money back, so she went out. Kevin O’Leary was interested, but it was a sharky deal: $80,000 for 10% of sales until he recouped $240,000, plus 3% equity.
Mark Cuban didn’t think it was an investable business, but he cautioned against getting too big too quickly. Guest shark Troy Carter offered $80,000 as a loan with a $120,000 payback for 10% equity in the business.
After Mark’s advice and their deliberation, they decide to not take either deal. While this means that they leave the tank without one, but they might be better off for it. Let’s see how things have gone for the company in our Nerdwax update.
Nerdwax is still alive and kicking! Even though Don and Lydia didn’t get a deal on
We’re glad to see that this family is still going strong. You can find Nerdwax on the company website.
How did the other companies featured in Season 7 Episode 3 do? You can find out in our other company updates:
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!