Tangle Pets Shark Tank Update – Tangle Pets Net Worth 2024

Many parents find that brushing their kids’ hair is a daily battle. Hair Brushing often results in tangles, tears, and anger because it is painful for kids. Ordinary hair brushes often cause discomfort by pulling, which is uncomfortable for both parents and children.

When Washington’s mother Liz Martin encountered this issue with her own kids, she discovered that there were no solutions available that would make brushing kids’ hair enjoyable and simple. 

After realizing this issue, Liz Martin developed Tangle Pets as a solution. A hairbrush that is cleverly covered up as a cute, soft animal. The creators designed this innovative device to make a daily task that most people disliked enjoyable. 

Liz brought her idea to Shark Tank in hopes of getting an investment to expand her company. She asked for $75,000 for 35% equity in her business. 

Tangle Pets net worth 2024

Liz Martin asked for a $75,000 investment in exchange for 35% equity in her company. This meant she valued her company at approximately $214,285. She made a deal with Lori Greiner for $75,000 in exchange for 50% of her company. This new deal valued her company at $150,000. After the show aired, Tangle Pets 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 Tangle Pets in 2024 is about $1.43 million.

Tangle Pets Shark Tank Update

Liz Martin appeared on Shark Tank, and Tangle Pets became very successful. Her business expanded quickly because of the show’s publicity, and in just two years, sales reached over $12 million. Tangle Pets became a popular choice because of the unique mix of a hairbrush and soft animal, which attracted both parents and children.

The product was quickly offered in over 20,000 store locations nationwide, including well-known companies like Walmart. Tangle Pets increased its audience even more by being made available for purchase online via several channels, including Amazon. Tangle Pets is still operating in 2024, offering parents who struggle with tangled hair a pleasant and practical alternative. Liz Martin has also joined Mothers Without Fathers, a nonprofit organization to support the community.

Yes, Tangle Pets got a deal on Shark Tank with Lori Greiner for a $75,000 investment in exchange for 50% equity. Lori Greiner was attracted to Liz Martin’s creative invention because she thought it was a great idea to combine a useful hairbrush with an entertaining animal. Lori offered to give 50% of Tangle Pets’ shares for $75,000. Liz was reluctant to give up half of her business, but after some discussion, she agreed to Lori’s offer.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Lori Greiner	$75,000 for 50% equity	$75,000 for 45% equity	Yes
Barbara Corcoran	Out	N/A	N/A
Kevin O’Leary	Out	N/A	N/A
Robert Herjavec	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

Tangle Pets Shark Tank Pitch

Liz Martin, a mother and inventor from Washington, created Tangle Pets out of necessity. She struggled daily with brushing her children’s hair, which often led to tears and frustration for both parents and children. Traditional brush designers did not consider kids, especially those with sensitive scalps or thick, tangled hair.

Liz realized there was a gap in the market for a child-friendly hairbrush that would make the experience more enjoyable. The inspiration for Tangle Pets came from her desire to turn hair brushing into a fun, playful activity. The early stages of development were challenging, especially as Liz had to balance her personal life and business, including her husband’s health issues. Despite these challenges, Liz was determined to bring her innovative idea to life.

Liz Martin introduced Tangle Pets with confidence during her Shark Tank pitch, stating that the product’s goal was to make children’s hair brushing easier. She showed how the brush was attached to a teddy animal, making it easier for parents to handle children.

Liz’s personal life difficulties and her dedication to fulfilling her goal inspired the sharks. She highlighted the benefits of the product, such as its low production cost and ability to operate on all hair types without pulling or twisting. To get funding to grow her product line and reach a bigger market, Liz asked for $75,000 in exchange for 35% ownership of her business.

Mark Cuban asked why he should invest in a brush attached to a toy. Liz clarified that Tangle Pets are not just a toy but a useful tool for parents who have trouble brushing their kids’ hair. Kids find combing their hair easier and less frustrating when they have a brush and a soft toy together, which also helps to prevent struggle and tears.

Kevin O’Leary said that the sales are not that good, so how will Liz increase them?

Liz responded she admitted to having low sales. She clarified that her husband’s health had required most of her attention. Now that he was better, she was prepared to give most of her time and effort to growing the company. In the upcoming year, she expected to increase her marketing efforts and sales to reach $100,000.

Barbara asked what makes this brush different from others on the market.

Liz explained that Tangle Pets are made especially for kids, unlike other brushes. Besides being soft on all hair types and reducing pulling and pain, the additional toy aspect provides an element of enjoyment.

Robert questioned the cost. Liz replied it costs $2.6, wholesale $5, and retail $12. She has made $8000 so far. 

Mark Cuban decided not to make an offer because he did not think Liz’s attitude and investment strategy would work together. 

Liz did not impress Barbara Corcoran, and the company’s potential or present sales figures did not convince her. She declined to make an investment.

Robert Herjavec declined to make an offer because he did not believe the product had future potential.

Kevin O’Leary decided not to make an offer because he had doubts about the product’s capacity to grow and the potential for future growth.

Lori Greiner found a market for kid-friendly hair brushes and loved the idea. Seeing room for growth, she made an offer of $75,000 for 50% shares. Liz counter-offered for 45% but after some negotiation, she agreed to Lori’s initial offer. 

Product Availability

Tangle pets are still going strong and successful. The product can be bought in over 20,000 retail locations nationwide, including well-known stores like Walmart, as well as on Amazon Tangle Pets and other online platforms. Tangle Pets are reasonably priced for most families, with each brush costing about $12.

Conclusion 

Tangle Pets’ Shark Tank story is proof of the strength of creativity and determination. Even though some sharks were initially suspicious, Liz Martin’s enthusiasm and confidence in her product enabled her to get a deal with Lori Greiner. Tangle Pets experienced significant success because of the funding and collaboration with Lori.

The company generated over $12 million in sales and was stocked in major U.S. stores. Tangle Pets is still going strong in 2024, offering parents and kids who struggle with tangled hair a fun and useful alternative. Liz’s story serves as a reminder that even the most straightforward ideas may become profitable ventures with dedication and the correct guidance.