As per latest Shark Tank update, HairFin has a net worth of $1.2 Million. Hairfin appeared on Season 13 of Shark Tank. Daymond John invested $25,000 for 30% equity in the company.
Hairfin Net Worth
| Founder | Tony Litwinowicz |
| Net Worth | $1.2 Million |
| Annual Sales Revenue | $560,000 |
| Profits | $280,000 |
| Lifetime Sales | $1.91 Million |
| Investor | Daymond John |
| Shark’s Deal | $25k for 30% Equity |
Sales Growth
When HairFin pitched on Shark Tank, the lifetime sales of the product were $41,000. After Daymond joined the company, he immediately put HairFin and his other Shark Tank company ‘Cut Buddy’ together.
The first twelve months after that episode aired on Shark Tank, HairFin made a staggering sales of $590,000, which accounts for a ten-fold increase.
What happened to Daymond John’s Investment?
Daymond helped HairFin with manufacturing and bringing down costs. To this date, Daymond has drawn $150,000 in profits from the company. That means, he already recovered 6-times his investment.
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Hairfin’s Shark Tank Pitch
Hairfin’s founder Tony approached Shark Tank seeking $20,000 investment for 25% equity in the company. Hairfin is a measuring tool that mounts to you hand and use it to cut one’s own hair.
The product takes $2.50 to manufacture and sells it for $14.00. The founder admits that he is bad at marketing and needs a Shark who can help him.
Robert and Marj Cuban are first to drop out mentioning that they have no value to add to the product. Lori Grenier follows their path and also drops out of the deal.
Daymond John offers a deal and after back and forth negotiations and funny booing by other Sharks, deal closes at $25,000 investment for 30% equity in the company. Both Tony and Daymond shake hands.