Somnifix, a company that produces breathing strips for better sleep, came onto Season 10 of
Shark Tank Somnifix Update
- Entrepreneurs: Nicholas Michalak
- Business: Mouth Strips
- Ask: $500,000 for 10% equity
- Result: $500,000 for 20% equity
- Sharks: Mark Cuban
The landed cost of a single box of mouth breathing strips is about $8, according to Nicholas. Somnifix manages to sell them for about twice as much. Nicholas is hopeful of improving the current 50% margins with the help of a shark.
Mouth breathing has serious implications, particularly during sleep–it often leads to:
- open-mouth snoring
- worsened sleep quality for non-snorers
- non-compliance with Continuous Positive Airway Pressure (CPAP) or oral appliances for obstructive sleep apnea (OSA) sufferers.
Fortunately, a solution is here: SomniFix Strips gently hold the mouth closed to direct airflow through the nose, reducing snores, improving sleep, and improving compliance with CPAP and oral appliances.
Since the Somnifix had only been in existence for about nine months at the time of the
After four of the sharks decided to drop out, Mark Cuban was the last hope for Nicholas and Somnifix. He offered to invest the $500,000 dollars in exchange for 20% equity. Somnifix ultimately accepted and partnered with Mark Cuban.
Now that we know that Mark Cuban invested in the company, let’s see how it is doing now with our Somnifix update.
Unfortunately, Mark Cuban never finalized the deal with Somnifix, but the company has managed to grow and stay in business over the years. The official website for Somnifix is still updated regularly and the products can easily be found online on the website.
You can find the other company updates from Season 10 Episode 20 here:
Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from