Mix Bikini Shark Tank Update – Mix Bikini Net Worth 2024

For many women, finding the ideal swimwear can be difficult. They are looking for something special that fits properly, enhances their features, and is comfortable.  The issue is that it’s difficult to find a bikini that stands out because most of those on the market have a similar appearance. This is when the idea of changing out your swimsuits comes in handy. Consider having the freedom to combine several elements to make a swimsuit that is entirely yours.

The entrepreneurs Frank Scozzafava and Adam DiSilvestro proposed Mix Bikini, a line of swimwear that women could personalize at shops or online using replaceable components. The idea was to give ladies more options so they could create custom designs that suited their unique styles. 

The entrepreneurs presented their product on Shark Tank, they had precisely a Mix Bikini idea in mind. They asked for a $50,000 investment for 5% equity in their business. However, the road to success was not as simple as they had thought. Did the entrepreneur get a deal on Shark Tank? Check out our Mix Bikini update to find out!

mix bikini net worth 2024

Frank Scozzafava and Adam DiSilvestro asked for a $50k investment in exchange for 5% equity in their company. This meant they valued their company at $1 million. They made a deal with Barbara Corcoran for $50,000 in exchange for 25% of their company.

This new deal valued their company at $200,000. For a quick Mix Bikini update, after the show aired, Mix Bikini 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 Mix Bikini in 2024 is about $0, as the company is no longer in operation.

Mix Bikini Shark Tank Update

Mix Bikini first looked like it was on the right track after making an appearance on Shark Tank, especially after they signed a deal with Barbara Corcoran. But things didn’t go as planned. Despite the creative idea, the creators faced a number of difficulties that they were unable to overcome. 

In an attempt to acquire popularity, they relaunched the company as Versakini, but it was insufficient. In the end, the company closed. Versakini and Mix Bikini will not be in service as of today. Since both brands are no longer in operation, it is no longer possible to buy their unique, customized swimwear.

Yes, the company got the deal on Shark Tank with Barbara Corcoran. Frank and Adam reluctantly took Barbara Corcoran’s offer after some negotiating.  They first requested $50,000 in exchange for a 10% equity in Mix Bikini. But Barbara continued negotiating and finally made an offer of $50,000 for 25% equity. Keep reading our Mix Bikini update to see what happens next!

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Barbara Corcoran	$500,000 for 25% equity	N/A	Yes
Robert Herjavec	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Daymond John	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Mix Bikini Shark Tank Pitch

Frank Scozzafava and Adam DiSilvestro wanted to offer something fresh to the swimsuit industry, which is how they came up with the concept for Mix Bikini. They came to understand that, without going over budget for several suits, many women wished to feel distinctive and fashionable in their swimwear.

The concept was straightforward but creative: develop a line of swimsuits with interchangeable components so that consumers could mix and match to make customized swimwear.

With this idea, women could show off their unique sense of style without having to deal with the awkward situation of wearing the same swimsuit as everyone else at the pool or beach. But putting this concept into practice wasn’t simple. The entrepreneurs had difficulties with production costs, marketing, and getting their goods in front of the right audience.

Frank and Adam described Mix Bikini as a playful and customizable swimsuit line that lets ladies customize their own appearance during their Shark Tank pitch. They gave a demonstration on the screen of how users may choose and mix various components on their website to create an infinite number of design options.

A customer has to select all the parts of the bikini and join them. Then the product will be delivered to your door that you have customized by yourself. product’s creators clarified that their target market was young ladies who desired to show off their individuality in a unique manner. 

Initially, they wanted $50,000 in exchange for 10% of their business. They also discussed their idea to set up shops where customers could physically combine components to create the bikinis of their dreams. Their aim was to set themselves apart from typical swimsuit businesses by providing an unforgettable buying experience.

Robert Herjavec asked about their sales figures, Frank said that they had only recently started the company and that their sales were still quite low. Robert was concerned about this since it seemed to indicate that the company wasn’t doing well yet.

Daymond John, given the company’s existing situation, questioned the valuation, pointing out that the price seemed high.  He, along with the other Sharks, was concerned about the founders’ lack of preparation with regard to purchasing stakes.

Kevin O’Leary asked if they intended to license the company concept. Kevin was not happy that the founders appeared to be unsure about this particular issue.

Barbara Corcoran desired a more thorough understanding of the cost. Each piece, according to Frank, retailed for $9.99, with a full bikini costing between $40 and $50. She saw potential in the business despite the complications.

Barbara Corcoran found the concept interesting and recognized the potential included in the product’s customizable nature. She offered $50,000 for 25% stock because she believed she could help them refine their idea and improve their company strategy.

Mark Cuban was the first shark to quit saying that sharks can only offer money or guidance, not the whole business plan. But Mox Bikini has no business plan. He urged them to accept Barbara’s invitation.

Robert Herjavec, Daymond John, and Kevin O’Leary were all rejected mostly because of uncertainty regarding the business plan, value, and strategy. They believed that the business was not yet prepared for investment.

Product Availability

From our Mix Bikini update research, the company has ceased its operations. The products were available for purchase on their website and were meant to be available in physical stores. However, after rebranding to Versakini and attempting to continue the business, both Mix Bikini and Versakini eventually closed. As of now, their products are no longer available for purchase online or in any retail stores.

Conclusion 

There were highs and lows during Mix Bikini’s Shark Tank journey.  Although the idea of customizable swimwear was new and fascinating, the way it was implemented and approached as a business left much to be desired.

Even after signing a partnership with Barbara Corcoran, the business had a number of problems that ultimately caused it to close. It serves as a reminder that having a brilliant idea alone isn’t always sufficient and that preparation, execution, and a clear plan are all equally crucial.

Even though Mix Bikini and its rebranded version, Versakini, are no longer in operation, their story provides a fascinating example of how crucial it is to have a well-thought-out plan when looking for funding. It also emphasizes how important it is for business partners to be clear and in agreement, particularly when making a pitch to possible investors.