Woosh Air Shark Tank Update – Net Worth, Pitch & Deal

When was the last time you changed your home’s air filter? If you can’t remember, you’re not alone. Many people forget this fundamental task, and it results in poor air quality in their homes. But what if there was an easier way to keep track of when to change your filter?

Winston Mok invented a clever air filter that connects to your home’s WiFi. This clever device tells you exactly when it needs changing, taking the guesswork out of maintaining clean air in your home. When it’s time for a new filter, the company sends one right to your doorstep. 

He came to the Shark Tank to get a $500,000 investment in exchange for 10% equity in the business. The Sharks thought this was asking a lot since Woosh hadn’t sold anything yet. Selling these filters and competing with big companies that already make air filters would be tough. But did Winston manage to get a deal with the Sharks? Find out in our Woosh Shark Tank Update!

Woosh Air Net Worth

Winston Mok asked for a $500,000 investment in exchange for 10% equity in his company. This meant he valued his company at $5 million. He made a deal with Kevin O’Leary for $500,000 in exchange for 10% of his company plus a $0.50 royalty per unit sold in perpetuity. This new deal still valued his company at $5 million.

After the show aired, Woosh Air saw big growth, including moving into a proper office and warehouse and teaming up with Emerson’s Sensi smart thermostat brand. With an estimated 10% yearly growth rate (typical business growth), the current net worth of Woosh Air is about $6.655 million.

What Happened To Woosh Air After Shark Tank?

Appearing on Shark Tank has been quite beneficial for the company. By April 2023, they had moved out of Winston’s garage and into a proper office and warehouse. This was a big step forward for the company. Later that year, in December, Woosh teamed up with Emerson’s Sensi smart thermostat brand. They combined Woosh’s air quality tracking and smart filter tech with Sensi’s products. This partnership resulted in Woosh reaching even more customers. 

Did Woosh Air Get a Deal On Shark Tank?

Kevin was the first Shark to make an offer to Winston: $500,000 for 12.5% equity, plus a 50-cent royalty on each unit sold forever.

Robert didn’t think there was enough value for regular people to buy a $99 air filter, so he didn’t invest. Daymond liked Winston’s leadership skills and product but couldn’t add more value to the business, so he also passed.

Lori worried that Winston’s patents might not get approved, which could let big companies copy his idea easily. She decided not to invest because of this. Mark agreed with Robert and added that the product would need a lot of marketing. He thought it’d be hard to convince people to buy it, so he didn’t invest either.

After hearing from all the Sharks, Kevin raised his offer to 15% equity. Winston then made a counter-offer: 10% equity and a 50 cent royalty, but only for 3 years instead of forever

Shark(s) NameOffer and DemandCounterofferAccepted?
Kevin O’Leary#1: $500,000 investment for a 12.5% stake in the business, with a 50 cent royalty per unit sold in perpetuity.

#2: $500,000 investment for a 15% stake in the business, with a 50 cent royalty per unit sold in perpetuity.
$500,000 investment for a 10% stake in the business, with a 50 cent royalty per unit sold for 3 years.Yes ($500,000 investment for a 10% stake in the business, with a 50 cent royalty per unit in perpetuity.)
Mark CubanOutN/AN/A
Robert HerjavecOutN/AN/A 
Daymond JohnOutN/AN/A
Lori GreinerOutN/AN/A

Woosh Shark Tank Update

woosh air net worth

Founders Backstory

Winston grew up in Canada but had to move to the United States to work at Google as a Product Manager. In 2019, an unfortunate incident occurred in California, where wildfires took place. Because the air was polluted with smoke, his partner asked him to get an air purifier. Rather than ordering one, Winston decided to make one himself. He learned how to build a DIY air purifier using a box fan and a filter from YouTube. But when he ordered the filter, he was surprised by how much it cost to ship. He wondered if there was a way to make filters easier and cheaper to ship. That’s when the idea for Woosh started to take shape in his mind. Winston left his job at Google to work full-time at Woosh. He spent over a year developing his smart air filter system. 

Initial Pitch

Winston came on the Shark Tank to pitch his product with confidence. He first presented a typical air filter that people often forget to replace. He then proceeded to remove the filter and show the Sharks the dust stuck in them. This made the normal air filter not perform at its peak, reducing the air quality people breathed. 

He then presented his own air filter system with proprietary technology and connected it with WiFi. It’s because of this that lets you know when you should change your air filters. He then gave each Shark Tank the Woosh air filter so they could see them up close. 

Queries About the Product

what happened to woosh air after shark tank

Kevin started the discussion by saying that Winston was valuing the company at $5 million. He wanted to know if the company had any sales. Winston then explained that the company was pre-revenue, but they had raised $62,000. Last month, they also partnered with Emerson, a Fortune 200 company, for the Sensi thermostat. Kevin then asked about the partnership Woosh has with Emerson. Winston explained that Emerson wanted to bundle the air filter with their thermostat and then sell the product. 

Daymond then wanted to know what the unique proposition of this product was. Winston told the Sharks that the air filter will tell you exactly when you need to change it. So your air quality won’t be affected. 

Kevin further inquired about the cost of the product and how much Winston plans to sell it for. Winston said that they plan to sell it for $99. The filter itself costs $20 to make, and they have a 33% profit margin on top of it. He also asked whether the products were patented. Because the air filter industry is already filled with dominant players. Winston said he had two patents pending, but he has filed them. Kevin also liked his approach to taking the business to licensing.

Shark’s Response and Final Deal

did woosh air get a deal on shark tank

Kevin O’Leary liked the licensing deal Winston proposed to him. He started the offer with an investment of $500,000 for 12.5% equity in the business. Since the business was pre-revenue, he didn’t know when the product might launch to mass consumers. Therefore, he proposed a 50-cent royalty per unit sold in perpetuity. Winston thanked him for the offer and asked if anybody else wanted to invest.

Robert didn’t like the value proposition Winston made. First, it was a costly product at $99 as compared to a regular filter. And people are going to get a normal filter anyway, so he didn’t see the point of getting something five times more expensive than a normal filter. For those reasons, he didn’t invest in the company. 

Lori believed that the information she received from Winston about the patents was not enough. Since she was an inventor herself, she also believed that he wouldn’t get the patents approved for the product. It was a big risk because if the patents were rejected, big air filter companies could use the design and crush Woosh before it could even begin selling.  For those reasons, she didn’t invest in Woosh.

Daymond kept things short. He complimented Winston on his product and where he was headed with the company. He believed he couldn’t add any value to the company, and for those reasons, he didn’t invest. 

Mark was in a similar position to Robert. He also believed that apart from the value proposition, it would be hard to sell the product to consumers. First, you have to educate them, and second, you need a lot of capital investment for marketing to cause a stir for the product. For those reasons, he didn’t invest in the company.

After all the Sharks were out, Kevin bumped the equity to 15%. But Winston countered the offer with a 10% equity and a 50 cent royalty per unit sold for 3 years rather than forever. Kevin liked the deal, and he agreed with Winston. He left the Shark Tank with Kevin O’Leary as his investor.

Product Availability

The main place to purchase Woosh products is directly through their official website. Since appearing on Shark Tank, they’ve launched two new products. One is the Woosh Smart Air Filter Starter Kit, and the other is Woosh Fold Filter Refills. Most of their products are sold only on their website.

Conclusion

From starting out in Winston’s garage to moving into a real office and warehouse, The deal with Kevin O’Leary seems to be working out. Woosh is growing and making new products. It looks like people like Winston’s idea for smarter air filters. All in all, Woosh shows how being on Shark Tank can really help a small business grow. They’ve had some tough times, but they’re moving forward and helping more homes have cleaner air.

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