Flaus Electric Flosser Shark Tank Update – Net Worth, Pitch & Deal

Samantha Coxe, an ex-big law internee who left the corporate world for her passion, entered the Tank with a device to make traditional flossing more fun. She presented the Sharks with Flaus, which was an ergonomically designed electric flosser for daily use. 

Sam demanded $250,000 for 5% of her newly established business. The sales, profits, and business model were all sustainable enough to interest the Sharks in the deal. However, the Sharks did not agree to the valuation. Find out what happened to Sam’s pitch on the show in our Flaus Shark Tank Update.

Flaus Net Worth

Samantha Coxe asked for $250,000 at a valuation of $5 million. The company had the previous fundraising round at a $8 million valuation, where it raised $3.5 million. Moreover, the company had sales worth $900,000 in the first year, also at a 75% gross margin. 

Considering all these factors, the company must have had more than $5 million in net worth when it appeared on the Shark Tank. The valuation at which the initial request for investment was made was understandable.

What Happened to Flaus After Shark Tank?

After Shark Tank, not much has changed for Flaus. Shark is mentioned explicitly on its website, proving that the deal is official. The company is offering a Shark Tank bundle for the fans. However, the biggest change has been the reduction of the selling price of the Flaus kit from $99 to $79. 

Did Flaus Get A Deal On Shark Tank?

Samantha Coxe asked the Sharks for $250,000 for 5% of Flaus. The company’s financial performance was good, and the prospects were lucrative. However, the business was still in the initial stages. Lori Greiner and Mark Cuban restrained from investing in Flaus because they did not consider it a good investment. 

Kevin O’Leary liked the Flaus’ gross profit condition, so he offered Sam a royalty deal. He offered to give Sam $250,000 for a 5% share in the company but a royalty of 2.5 cents per unit until he recoups $750,000. 

Candice Nelson offered Sam $250,000 for 8% of the company, while Daymond John offered the same for 10%. Sam tried countering the offers, but Shark disagreed. She said yes to Candice’s offer of $250,000 for 8% of the company

Shark(s) NameOfferDemandCounterofferAccepted?
Candice Nelson$250,0008% of the company$350,000 for 8% of the companyYes (original offer)
Daymond Johnson$250,00010% of the companyN/ANo
Kevin O’Leary$250,0005% of the company ‘and’ 2.5 cent royalty until recoups $750,000$250,000 for 3% of the company ‘and’ 2.5 cent royalty until $750,000 is recoupedN0
Lori GreinerOutN/AN/AN/A
Mark CubanOutN/AN/AN/A

Flaus Electric Flosser Shark Tank Update

flaus electric flosser net worth shark tank

Samantha Coxe’s Backstory

Samantha Coxe was a big law intern at Skadden for four years when the business idea came to mind. She had an appointment with the dentist, so she began flossing a week before she was set to visit the clinic. She was a two-times-a-day-tooth-brusher but a horrible flosser. 

During her appointment with the dentist, Sam was asked if she regularly did her flossing. Despite saying yes, she came home with nine cavities in her teeth. She liked her electric toothbrush and searched for an electric flosser online. The internet had no alternative to traditional flossers. This made her think about developing an electric flosser. 

Initial Pitch

Samantha Coxe introduced herself to the Shark Tank and asked for $250,000 for 5% of her company, Flaus. She started her pitch by mentioning the questions dentists usually ask their clients. She argued that oral health was important, but only 30% of Americans floss daily. 

Flossing was painful, time-consuming, difficult, and gross. However, Sam invented an innovative alternative to traditional flossing. Flaus was the first electric flosser that made flossing quicker, easier, and more comfortable, like an electric toothbrush. 

The product has a removable and recyclable floss head on the top. More detailed information regarding the device will be provided later in the update. The initial pitch ended with Sam presenting Sharks with Flaus on their tables. 

Queries About The Product

what happened to flaus after shark tank

Every Shark instantly liked the design and concept of Flaus. Candice Nelson liked the flavor of the floss head and asked if it was peppermint. Samantha Coxe confirmed that it was indeed a peppermint flavor, but the company was also working on developing other flavor variants. 

Candice wanted to know about the selling price and cost to get a better idea of the financial sustainability of the product. Sam explained that a Flaus device was available online for $99, and the company was making it for $10. The cost of goods sold of the Flaus kit was $25, which enabled it to earn a 75% gross margin per kit. The kit included a Flaus device, a charger, a cable, and 45 floss heads.  

Sam further explained that the company delivered 90 floss heads after three months of subscription. The 3-month subscription was available for $15 (equivalent to $5 monthly). Daymond John asked Sam if she was doing business in the retail space. 

Sam argued that the company was selling Flaus devices directly to consumers because they were new, so establishing retail connections was difficult. She elaborated on the product’s financial performance by stating that Flaus made $900,000 in sales in the last 12 months, earning $300,000 worth of gross profit. 

The business was not profitable in the current year because it spent money on research & development and manufacturing of inventory. Candice was impressed by the inflated sales performance in the first year, so she asked how the company acquired its customers. Sam said Flaus was launched on Indiegogo, providing it with the much-needed exposure. 

Kevin wanted to know Sam’s plan regarding tackling the competition in the dental vibrating space. Sam explained that the company had patents to secure its market share and customer base. Three patents were issued, while two were pending. The curvature of the neck and ergonomics were different from the electric toothbrushes. The molar teeth were accessible, unlike the traditional products. 

Kevin asked about Flaus’s customer acquisition cost. Sam established that the company acquired its customers for $38 per order. The return on ad spend (ROAS) was three times the expenditure. Despite just under a million dollars in sales, the business had no public relations or publicity expenses. 

Candice liked Sam’s determination to pursue her passion and the fact that she could relate to the need for innovation in the flossing space. However, Candice wanted to know how Flaus could make her children floss. Sam confirmed that the business was about to launch the new product, ‘Flaus Kid,’ explicitly targeting the young ones. She was excited about the potential licensing deals with Disney and Nickelodeon.  

Candice further inquired about the money Sam raised for Flaus. Sam explained that she raised $3.5 million because the device was a consumer electronic and the business was capital intensive. The fundraising dates back to 2.5 years and was closed at a valuation of $8 million. However, Sam demanded $250,000 at a valuation of $5 million. 

In answering Mark Cuban’s question regarding the bank balance, Sam confirmed that the company has $1 million in cash at the bank. 

Candice concluded the query round by inquiring about Sam’s long-term vision. Sam answered Candice that she wanted to create an oral beauty space. People spend a lot on their teeth like they do on their nails.

Final Negotiation

did flaus get a deal on shark tank

Lori Greiner gave a dead-straight review about the product and called it a mousetrap for others. She liked the traditional flossers and did not consider Flaus a good investment. Mark Cuban followed Lori as he opted out, arguing that electric flossers were not his will house. 

Kevin O’Leary was impressed by Sam but did not like the deal she was asking. He explained that he could help the company acquire customers by recommending the product to his millions of followers. He restructured the initial ask and offered Flaus $250,000 for 5% of the company ‘and’ a royalty of 2.5 cents until he recouped $750,000. 

Candice Nelson called Kevin’s offer cold-blooded. She insisted on working with Flaus in the longer run instead of demanding royalties. She offered Sam $250,000 for 8% of the company. Candice explained that she had made several brands with a reputation and could also provide Sam with emotional support. 

Kevin lowered his equity demand to 3% to compete with Candice. Daymond John offered $250,000 for 10% of the company. He explained that he could help Sam get a licensing deal from the more significant organizations. 

Sam countered Candice and asked her to increase the cash consideration to $350,000, which she refused. Sam tried getting both Daymond and Candice on board, but Daymond refused, stating they did not complement each other. Sam eventually agreed to Candice’s offer, and they made a deal.

Product Availability

Flaus is an intelligent solution for a common but neglected problem most people in the USA face. Flaus is the first electric flosser that makes flossing quicker, easier, and more comfortable, like an electric toothbrush. The product has a recyclable floss head on the top and five-speed settings that go up to 18,000 sonic vibrations per minute. 

Flaus has three granted design patents and two pending patents that can help protect its uniqueness in the dental space. The patented assist motion helps clean the tight spaces between teeth. It has a genius ergonomic design ensures the finger never comes in contact with the teeth. 

Flaus is available online for just $99 and enjoys 75% gross profit per kit. Moreover, the company sells floss heads on a three-month subscription that costs $15 per batch. 

The product is unique because the internet has no electric flosser other than Flaus. The product adds value to routine oral care, and the patents secure its uniqueness. However, I do not consider it a revolutionary product because traditional flossers are more economical and straightforward. 

A lower selling price could have been better to acquire more customers. Furthermore, the subscription model is a great way to lock the customers. The floss heads are unique because no other company sells them. Making the customers repurchase the floss heads is an excellent strategy for long-term sustainability. 

Conclusion

Flaus is a discrete product that adds a different value to the daily flossing routine. It had a solid financial performance, and the business’s prospects were excellent, especially considering the expected launch of Flaus Kid. The product was independent of retail outlets, had a sustainable subscription model, and a future licensing agreement.

Candice Nelson struck a great deal with Flaus, where the company’s valuation was intact, and she received a security against future equity dilution. As Candice is known for building reputable brands, Flaus is in the right hands to make it big in the future. 

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