Better Life Cleaning Products Shark Tank Update 2023
Better life cleaning products made quite a splash on Shark Tank. With their unique approach to cleaning solutions, they captured all the five Sharks’ interest! And, of course, they made a deal with one of them.
However, what is the Better Life Cleaning Products Shark Tank Update now? In Shark Tank season 5, Lori Greiner invested $400,000 in it. With that, the company spread its business globally. Though in 2018, Bissell, Inc. acquired it, the business is still in pretty good condition.
So, are you now interested in their inspiring story of becoming a global brand? Fear not; here, we will share it, including all of the highlighting parts. So, let’s jump in!
Better Life Cleaning Products Shark Tank Profile
Before we jump into details, let’s take a quick sneak peek into their profile!
| Company Name | Better Life |
| Originators | Tim Barklage and Kevin Tibbs |
| Founded | 2008 |
| Product | Plant-based cleaners, lotion, soap, wood polish, etc. |
| Business Status | Still Running |
| Shark Tank USA Appeared Episode | Episode 7 of Season 5 |
| Aired Date In Shark Tank | November 1, 2013 |
| Asking Investment | $400,000 for 7% equity |
| Final Deal | $400,000 for 17% equity |
| Shark Name | Lori Greiner |
| Net Worth | 5 million USD |
| Headquarters | St Louis, Missouri |
| Website | Better Life, Better Life Canada |
| Size Of Company | 11-50 employees |
| Get the Products | Visit Amazon, Better Life All Purpose Cleaner, BETTER LIFE Bathroom Cleaner, Better Life Natural Concentrated Laundry Detergent |
| Where To Watch | Amazon Prime |
| Social Media | Instagram, LinkedIn |
Overview of Better Life Cleaning Products Company
Initially, Better Life was all about safe and green household cleaning products. However, Better Life Cleaning Products today has evolved to produce toiletries like hand soap, too.
Well, among the two founders, Kevin Tibbs is an extremely skilled and passionate chemist. The other one, Tim Barklage, is known for his exceptional marketing skills.
After they had kids, being two concerned fathers, they wanted to make their kids’ world safer and better. However, they found that usual cleaning products contain harsh ingredients. Also, they are not completely effective against many types of germs and not eco-friendly.
So, in 2008, they started a company to make plant-based cleaning products. They invented the formula to make these products without harmful chemicals like parabens, sulfates, etc.
The company has almost all types of cleaners, like floor cleaners, glass cleaners, kitchen cleaners, cleaning wipes, and even bath products. On top of that, all of their products are non-hazardous and degradable.
How Was Better Life Cleaning Products on Shark Tank?
Better Life was featured in episode 7 of Shark Tank Season 5. Tim and Kevin managed to catch the sharks’ attention with a proper and feasible presentation. In reality, even before the Better Life Cleaning Products Shark Tank episode, it was a well-planned company with $2.1 million in sales.
In the episode, they asked for a $400,000 investment for 7% equity, which will value the company over $5.7 million. With their previous successes and nationwide sales data, none of the sharks could resist them. All of them offered to take their business to new heights.
Nevertheless, among all these tempting offers, Lori Greiner’s $400,000 investment for 17% equity offer won with the promise of making them millionaires. With that, the company opened a new window.
What Happened To Better Life Cleaning Products After Shark Tank?
So, what about Better Life Cleaning Products After Shark Tank, and how does that deal with Lori affect the company? Yeah, it was a complete success! With the guidance of an expert, the company pulled its production double. They also adopted new packaging styles and increased the employees’ number.
Not only that, the recognition also spread overnight. Many big shots, like Meijer, Mariano’s, etc., made retail contracts with Kevin and Tim. They made it from the European Union to Asia to Africa.
With all of these efforts, the company made a growth rate of 645 percent. This success in sales brought them a place 503rd on the list of fastest-growing companies in the US. It was published by the Inc. magazine.
However, with all of these successes, the company grew bigger. So, it needed more professional management. Thus, in 2018, they handed over the company to Bissell, Inc. Also, the offered amount has not been disclosed yet.
Better Life Cleaning Products Net Worth
As you see, Better Life is now an established company. Thus, its valuation has also increased a lot from the beginning.
Before joining the Shark Tank, the founders said they had more than 2 million USD in sales from one year. Then, when Lori joined them, they were able to expand the business successfully outside of the US, too. It increased their financial assets.
Even after that collaboration ended, the company ran smoothly over the past years. So, fast forwarding to 2023, it is reported to have a net worth of 5 million USD. That is, the revenue increased more than double from the initial data.
Better Life Sales Data
Even though Better Life is still running smoothly in business, the company does not share its sales data with the public. Thus, we cannot share their exact sales data for recent years with you.
In November 2013, when Better Life appeared in the Shark Tank, the company was already doing well. The founders disclosed that they made more than $2 million from the sales of cleaning products over the past 12 months.
Although the sales data is a mystery, from their net worth and marketplace demand, it is obvious that the company has reliable sales.
Is Better Life Profitable Now?
From the Better Life Cleaning Products update, it is confirmed that the company is still profitable. Though the company has a different owner now, it is still one of the top eco-friendly cleaning brands in the US and some other parts of the world.
Yeah, you may not know their exact sales amount for past years. But, from the positive feedback on their products found on Amazon and their websites, you can rest assured that the company is pretty much profitable till now.
Conclusion
So, as a final thought on Better Life Cleaning Products Shark Tank Update, we must say it is still a popular name in the market. With all the recognition from the Sharks, Inc. magazines and other renowned retailers, it is still running with full sail.
Though the company was acquired by Bissell Inc. 5 years ago, it is still keeping its promise of making eco-friendly cleaning products. Not only that, the company also has some accessories now.
