DrainWig Net Worth Shark Tank Update 2025

Jennifer and Gifford Briggs invented DrainWig to solve the messy problem of hair-clogged drains. Traditional solutions were unpleasant. People had to touch their hair or use harsh chemicals. The Briggs family created an easy and hygienic solution. DrainWig uses a small chain to trap hair before it clogs the drain. When the water starts to slow down, the user simply pulls out the chain and throws it away.

No one has to touch the trapped hair. The DrainWig is affordable and disposable. The Briggs family appeared on Shark Tank Season 9. They asked for $300,000 for 5% equity. They wanted to expand into major retail stores. The sharks were impressed by the numbers and the product. Will the entrepreneur get a deal on Shark Tank? Check out the DrainWig update!

DrainWig Net Worth Shark Tank Update 2025

Jennifer and Gifford Briggs asked for a $300,000 investment in exchange for 5% equity in their company. This meant they valued their company at $6 million. They made a deal with Kevin O’Leary for $300,000 in exchange for 15% equity. This new deal valued their company at $2 million. After the show aired, DrainWig saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of DrainWig is about $3.22 million.

DrainWig’s success after Shark Tank was enormous. The agreement with Kevin O’Leary was finalized. Major retailers now sell the product. These consist of Walmart, Bed Bath & Beyond, Amazon, and others. The DrainWig website also sells it. After the show aired, DrainWig rapidly expanded.

An issue with their previous infomercial arrangement was resolved by the Briggs family. They currently own all of their company. They’ve also added more products to their lineup. They provide multiple designs for various drains. They offer shower and bathtub styles.

The DrainWig is well-liked due to its low cost and simplicity of usage. The price of a four-pack is approximately $19.95. Most families can use one pack for a full year. DrainWig gained popularity in mainstream culture as well. It was part of the Oscar nominee gift bag in 2014. DrainWig’s yearly sales have surpassed $1 million. They sell more than 1,000 units a month on Amazon alone. DrainWig is still going strong in 2024. Customers may now easily maintain clean drains thanks to it.

Yes DrainWig was given a Shark Tank contract. Jennifer and Gifford Briggs requested $300,000 in exchange for a 5% stake in their business. The offer from Kevin O’Leary was $300,000 for 20% stock. For 10% equity, the Briggs family retaliated with $300,000. The sharks rejected this counter. After that, the family changed their offer to $300,000 with 15% ownership. Kevin O’Leary agreed to this offer right away.

In addition, Daymond John offered $300,000 for 20% ownership. Lori Greiner offered $300,000 in exchange for a quarter of the company. Sara Blakely and Mark Cuban made the decision not to invest. The deal ultimately went to Kevin O’Leary.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Sara Blakely (Guest Shark)	Out	N/A	N/A
Kevin O’Leary	$300,000 for 20% equity	#1 $300,000 for 10% equity #2 $300,000 for 15% equity	yes to 2nd offer
Daymond John	$300,000 for 20% equity	#1 $300,000 for 10% equity #2 $300,000 for 15% equity	N/A
Mark Cuban	Out	N/A	N/A
Lori Greiner	$300,000 for 25% equity	#1 $300,000 for 10% equity #2 $300,000 for 15% equity	N/A

DrainWig Shark Tank pitch

Frustrated, Jennifer and Gifford Briggs founded DrainWig. Their daughters’ hair was long. Their home’s shower drains are frequently clogged. Jennifer had had enough of removing untidy hair clumps. She also disliked cleaning the drains with chemicals. She desired a more hygienic option. Jennifer considered catching hair with a chain. It occurred to her that the chain might catch the hair before it clogged.

The chain was easy to pull off, which was the greatest part. There was no mess because it was disposable. Gifford and Jennifer were aware that this concept may benefit others as well. They initially encountered numerous difficulties. The duo had to make their concept a viable product. They needed to test various materials. They wanted DrainWig to function properly in every drain. 

Making the ideal design took time. They had to sell the product once they had the appropriate one.The Briggs family put a lot of effort into promoting DrainWig. They began using infomercials to sell the device. It was successful. People praised DrainWig’s user-friendliness. Sales of the product began to accelerate. However, the Briggs family made an early mistake. They made a contract with an infomercial business.

Their earnings were constrained by this agreement. They only received $800,000 in royalties after making $14.2 million in sales. Gifford and Jennifer made the decision to resolve this issue. Their partners were bought out. They took back complete command of their business. They hoped that Shark Tank would provide the assistance. With Shark Tank they hoped to get the help they needed to grow even more.

Jennifer and Gifford Briggs presented DrainWig on Shark Tank with the help of their daughters. They started by sharing the story of how the product came to be. Jennifer explained that the product was designed to solve the problem of clogged drains caused by hair. Traditional solutions involved inserting tools into the drain to remove the hair. This method was messy and unpleasant.

In contrast, DrainWig is a simple chain that sits inside the drain. It catches hair before it can form a clog. When the drain starts to slow, the chain can be pulled out. 

This removes the hair and prevents further clogs. The Briggs family emphasized that DrainWig was disposable. This meant that users didn’t have to touch the hair or use harsh chemicals. It was also environmentally friendly. The product was affordable too, at just $19.95 for a pack of four. The Briggs family revealed that they had already made significant sales reaching $14.2 million in total.

They wanted to expand further and secure placements in mass retail stores. To help with this they were asking for $300,000 in exchange for 5% equity.

The sharks were interested in DrainWig. They asked a lot of questions about the product’s sales and how it worked. Daymond John wanted to know more about the numbers. He asked about profit margins and sales figures. The Briggs family shared that DrainWig had a great profit margin. It cost only $1.10 to make and sold for $9.99. This meant they made a good profit on each unit.

The family had made $14.2 million in total sales. They were selling the product through infomercials and online. The sharks were impressed by the numbers. 

However, there was one issue. The Briggs family had signed an unfavorable deal with an infomercial company. They had only received $800,000 in royalties from that deal. The sharks asked about this deal and how it affected the business. The Briggs family admitted it was a mistake. But they were working to fix it. They bought out the infomercial company and now owned 100% of their business.

This gave them more control and the chance to grow. The sharks liked that the family took charge of the situation. The Briggs family was ready to move forward and expand. They knew they had a good product and a strong business model.

The sharks had mixed reactions to the DrainWig pitch. Mark Cuban said he wasn’t interested. He felt the product didn’t need much change and wasn’t the right fit for him. He didn’t want to “reinvent the wheel” so he passed on the deal. Sarah Blakely also passed on the opportunity. She felt that the Briggs family could do the business on their own. She thought they didn’t need her help.

Daymond John made an offer of $300,000 for 20% equity. Lori Greiner also made an offer of $300,000 for 25% equity. Kevin O’Leary stepped in and made an offer of $300,000 for 20%. The Briggs family countered with $300,000 for 10% equity. The sharks didn’t go for that offer. The Briggs family then revised their offer to 15% equity. They explained the product’s potential in hotels and other industries.

Kevin O’Leary quickly agreed to the 15% offer. The final deal was $300,000 for 15% equity with Kevin O’Leary. This deal gave the Briggs family the investment and expertise they needed to grow their business.

What Went Wrong With DrainWig on Shark Tank?

DrainWig didn’t appeal to every shark. Sarah Blakely and Mark Cuban declined the offer. Mark Cuban believed the product was straightforward and required little modification. He didn’t want to put money into something that he didn’t think could be improved. Sarah Blakely believed the family could expand the company without her assistance. 

They didn’t require an investor in her opinion. An infomercial corporation had a poor contract with the family. Their early profits suffered as a result. But they resolved that by acquiring the business. The sharks recognized DrainWig’s potential in the hotel sector as well. The family had an advantage in talks because of this.

Product Availability

DrainWig can be bought at a lot of shops. It is available online at Bed Bath & Beyond, Walmart, and Amazon. The product costs $19.95 for four-packs. Most households can use one pack for a year. Both bathtubs and showers can use the DrainWig. New styles have been added to the Briggs family’s product line. They have a bathtub version now. 

Using the product is simple. Simply insert the chain into the drain. You take it out and discard it when the flow slows down. It’s an easy and clean solution. DrainWig is also reasonably priced. To clean your drains, you don’t need to purchase any chemicals or equipment. The product is sold at numerous retail locations as well as online.

Conclusion

DrainWig started with a simple idea to solve a common problem. The Briggs family worked hard to make it a success. Their pitch on Shark Tank helped them grow even more. They got a deal with Kevin O’Leary and turned their business around. 

Today DrainWig is sold in major stores and online. The family continues to innovate with new products. They have a bright future ahead. Keep an eye on DrainWig for more updates in the years to come.