Drink spiking is a severe problem, particularly for women in public settings like pubs and gatherings. Since there is always a chance that someone will tamper with their drinks, many individuals are concerned about their safety when they leave them unattended. People frequently feel powerless because there aren’t many practical solutions to this serious issue, which might cause harmful circumstances.
Shirah and Michael Benarde, siblings, developed Nightcap, a novel product, to address this problem. With just a little opening for a straw, this straightforward yet clever drink cover keeps people from spiking simply by covering the glass. This tool provides a simple and quick fix for a common issue.
On Shark Tank Season 12, Shirah and Michael pitched Nightcap to land a transaction that would help them grow their company. Their pitch quickly caught the sharks’ interest because of the significant problem they were solving, and they were seeking $60,000 for 20% stock. Did the entrepreneur get a deal on Shark Tank? Check out our NightCap update to find out!
NightCap Net Worth Shark Tank Update 2025
Shirah and Michael Benarde asked for a $60,000 investment in exchange for 20% equity in their company. This meant they valued their company at $300,000. They made a deal with Lori Greiner for $60,000 in exchange for 25% equity, which adjusted the company’s valuation to $240,000. After the show aired, Nightcap 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 Nightcap is about $1.12 million.
After Nightcap’s participation in Shark Tank, its business took off. The business is still operating and doing very well. Nightcap’s lifetime sales hit $2.1 million within a year of the episode’s premiere, and it kept growing. Today, the business has established new product lines, including three new colors and a keychain version, and has extended its presence in the UK.
To help spread the word even more, they even hired vocalist Julia Michaels to perform at bars and other music venues. Nightcap is already making over $5 million in sales annually and has established itself as the preferred option for consumers who wish to prevent their drinks from being tampered with.
Yes, Nightcap was successful in landing a Shark Tank transaction. Seeing the product’s potential right away, Lori Greiner made the siblings an offer of $60,000 for 25% interest. This agreement was accepted by Shirah and Michael, and Lori’s participation has aided the company’s expansion. Lori had a strong desire to help resolve an issue that impacts many individuals, particularly college-age women.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Lori Griener | $60,000 for 25% equity | N/A | Yes |
| Barbara Corcoran | 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 |
NightCap Shark Tank pitch
After learning about a college acquaintance who had their drink tampered with, Shirah Benarde came up with the concept for Nightcap. Shirah was worried about the increasing number of drink-spiking cases and wanted to develop a solution to stop them. She made the notion a reality after having a dream one night that inspired it.
Her mother’s pantyhose and a scrunchie were used to create the initial nightcap prototype. They began their firm and made improvements to the design with the help of her brother, Michael.
They had to start from zero while developing the product and brand, therefore, it wasn’t an easy journey. They were encouraged to keep going after winning a few startup competitions and receiving some financial help from their parents.
In their opening Shark Tank pitch, Shirah and Michael discussed the rising issue of alcohol spiking and how Nightcap would be an easy fix. They clarified that their product is a reusable cover that can be pulled out to cover a drink when necessary and worn as a scrunchie. Because of this, it is both stylish and practical. They said that, mostly because of upgrades to their website and social media advertisements, they had made $68,000 in just 11 months.
They enthusiastically accepted Lori’s offer of $60,000 for 25% equity, even though they had requested $60,000 for 20%.
Every shark had inquiries concerning the company and its goods.
Mark Cuban asked how much it would cost to produce and market the product. Shirah clarified that although they sell it for $11.99 and it costs $2.82 to create, they might save expenses by producing it in greater quantities.
The siblings were certain that the safety issues would attract many buyers, but Mark Cuban questioned whether the market for such a product was large enough.
Barbara Corcoran asked who are your customers? The siblings replied that 70% of their customers are from the 18-24 age group and 19% of them are women.
Kevin asked about the numbers on the business. The siblings responded they launched the business 11 months ago. They have $68,000 in lifetime sales and 40,000 sales are from the last 6 weeks.
Lori asked the reason for their increase in sales in the last 6 weeks. The founders revealed that the rapid increase in sales was because of Website optimization and social media marketing.
Kevin further asked about the patent. The founders replied that they had a utility patent.
Lori Greiner was enamored with the product’s purpose and its potential to truly impact people’s lives. The siblings agreed to her offer of $60,000 in exchange for 25% equity.
Daymond John, Barbara Corcoran, Kevin O’Leary, and Mark Cuban all declined the offer. Although they found the concept appealing, they didn’t think it was a good fit for them. Specifically, Mark doubted if the product would be popular with the public.
Product Availability
A reusable drink cover that also functions as a scrunchie is called a nightcap. Its narrow straw entrance and ability to suit most glasses and cups prevent anyone from tampering with the drink. The device is convenient to carry because it is reusable, lightweight, and may be worn in the hair or on the wrist.
Since then, the company has released a keychain version in several colors. Nightcap can be bought on Amazon and the company’s own website NightCap. With a selling price of about $11.99, it is both accessible and reasonably priced.
Conclusion
Nightcap is a potent illustration of how a straightforward concept can solve a significant issue. The business has received a lot of praise and attention for offering a simple solution to the problem of drink spiking. With Lori Greiner’s help, Shirah and Michael have expanded their company since their Shark Tank appearance.
With yearly revenues now over $5 million, the company has entered foreign markets and broadened its product portfolio. In the future, Nightcap will keep innovating and raising awareness about alcohol safety. They are positioned for much more success in the future, given their current growth trajectory.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
