Rinseroo Update | Shark Tank Season 16
Lisa kept cleaning dogs, rinsing shower walls, and filling buckets from the sink while everyone else enjoyed the beach. The process was messy, exhausting, and took too much time. That led her to create Rinseroo, a slip-on hose that attaches to sinks, tubs, and showerheads, making rinsing easier and eliminating the need for buckets. Let’s take a look at which shark showed interest in making a deal in our Rinseroo update and pitch recap.
If you’re short on time, here’s a quick overview of what happened to Rinseroo after
Lisa and Jake entered
In terms of a Rinseroo update, the company expanded its product line by introducing slip-on hose attachments that make cleaning and rinsing easier.
| Shark | Result |
| Lori Greiner | Accepted offer of $343,000 for 5% equity |
| Kevin O’Leary | $343,000 for 5% equity, but with a $2.50 per-unit royalty until he recouped $1 million |
| Daymond John | $343,000 for 15% equity |
| Kendra Scott | No offer |
| Mark Cuban | No offer |
Shark Tank Rinseroo Pitch
- Entrepreneurs: Lisa and Jake Lane
- Business: Slip-on tub hose
- Ask: $343,000 for 5% equity
- Result: $343,000 for 5% equity
- Shark: Lori Greiner
Lisa entered
Their creation, Rinseroo, turns any water source into a hassle-free rinsing tool. Now they need an investment to scale online sales and fight off knockoff competitors threatening their growing brand.
The product makes rinsing easier, eliminating the need for buckets and reducing back strain. It works for cleaning, pet bathing, and filling buckets without splashing water.
Lisa came up with the idea at her beach house, where cleaning had become a constant struggle. With 15 people and four dogs, she spent more time scrubbing and filling buckets than enjoying the beach.
Frustrated, she teamed up with Jake to create a better solution. Their prototype worked, and they quickly realized its potential.
To validate their idea, they turned to Lori Greiner’s book, which helped them determine whether their product was a “hero or zero.”
Rinseroo met all the key criteria; it had mass-market appeal, solved a widespread problem, and was easy to demonstrate.
Kevin O’Leary, however, focused on valuation, immediately questioning why Rinseroo was worth $6 million. Lisa stood by the number, pointing to their rapid growth.
They launched in March 2019 and became profitable within months. Their first-year sales hit $1 million, and revenue continued climbing.
Kevin, wanting more specifics, asked what they were projected to make this year. Lisa confidently responded that they were on track for $5 million.
Guest shark Kendra Scott asked where they were selling the product. Lisa explained that 99% of their sales were online, a model that had worked well for them so far.
Still, Kendra wanted more details and pressed for pricing and costs. Jake explained that their landed cost ranged from $2.50 to $4.50, while retail prices ranged from $15.95 to $29.95.
Their customer acquisition cost (CAC) is $2.50, while their return on ad spend (ROAS) on Amazon ads is 10:1, despite allocating only 10% of their revenue to Amazon marketing. However, their net profit was only $1 million.
Kevin raised a concern about knockoffs, asking how many copycat products were on the market.
Jake acknowledged that knockoffs existed but reassured the sharks that they had a patent, providing an added layer of security for their business.
With their numbers and protections laid out, the sharks began making offers.
Daymond John was the first to jump in, offering $343,000 for 20% equity.
Kevin quickly countered with the same amount for 15% equity. Lisa hesitated, explaining that she wanted to keep equity low to protect Jake’s future.
Seeing this, Daymond adjusted his offer to 15%.
Kevin then proposed a different structure; $343,000 for 5% equity, but with a $2.50 per-unit royalty until he recouped $1 million.
Lisa considered it but ultimately felt the royalty was too high.
Then, Lori surprised everyone. She pulled out her Golden Ticket, a rare offer where she gives the entrepreneur exactly what they ask for.
She explained that Lisa and Jake had followed her book’s guidance and built a successful business.
Because of this, she offered them $343,000 for 5% equity, exactly what they requested. Lisa and Jake accepted immediately, overwhelmed with excitement.
With a deal from Lori, keep reading our Rinseroo update to find out what happened next for their company.
Shark Tank Rinseroo Update
Our Rinseroo update found that after the episode aired, the company received a big boost in sales.
Further, the company has started offering a variety of slip-on hose attachments designed to simplify rinsing, cleaning, and bathing tasks around the home.
Our Rinseroo update also found a recent blog post where Lisa shared insights into the company’s growth and the inspiration behind their innovative products.
If you’d like to try bathing your pup with one, you can find them on the Rinseroo website.
As the dust settles, we anticipate a more exciting Rinseroo update from Lisa and Jake in the near future.
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Before you go, be sure to check out our list of all the Shark Tank Season 16 products.
Marvin Uzor
Marvin Uzor is a content contributor for Shark Tank Recap. He specializes in crafting engaging, well-researched content that delve into the latest Shark Tank stories, keeping readers hooked. He has a soft spot for his favorite Shark Tank companies, Bombas and Doorbot, known for their innovation and impact.