Nicki Radzely has redesigned the traditional pacifier and has created a new type of pacifier that prevents germs from reaching the surface of the pacifier, as it pops when it’s dropped. She came onto
Shark Tank The Pop Update
- Entrepreneurs: Nicki Radzely
- Business: Pacifier for Babies
- Ask: $250,000 for 5% equity
- Result: $250,000 for 10% equity
- Sharks: Kevin O’Leary
Nicki told the sharks that she had managed to sell about 25,000 units in just four months of being in business. She still had the tough goal of convincing the sharks to invest in a company that was so new to the market. Her current pacifier on the market was designed for babies under six months of age, but she hopes to launch new pacifiers for babies up to the age of 12 months with the help of the sharks. The product is currently being sold in Buy Buy Baby and Nordstrom.
A single pacifier costs a little bit more than a $1 to make, while the retail price point is $10–which provides a fairly reasonable margin for Nicki and her company. Nicki told the sharks that she had about $117,000 in sales for the current calendar year, which was fairly impressive for how new the company was.
Kevin O’Leary was the first shark that was willing to make an offer to Nicki and her company. He offered $250,000 for 10% equity. Guest shark, Sara Blakely, also decided to make an offer, but she suggested that she would need more equity. Her offer was $250,000 for 15% equity. Lori Greiner was also interested in partnering with Sara.
After considering her offers, Nicki ultimately decided to accept the offer from Kevin because the equity amount was not too much for her to give away. Let’s quickly get a ‘The Pop’ pacifier update for the current day.
The company has managed to steadily generate $1 million in gross revenue through the 2021 calendar year and seems poised to narrowly beat those metrics in the current year. With that update & recap, we’d say The Pop pacifier was definitely a success and Kevin’s investment in the business was a big help to Nicki’s business.
You can find the other company updates from Season 9 Episode 19 here:
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