The Mad Optimist Shark Tank Update

The Mad Optimist Shark Tank Update

Animal fat is one of the key ingredients in most soap bars on the market. But rubbing animal fat on your body can be a problem, especially if you are against animal cruelty. These soaps may also clash with the religious beliefs of many consumers. This is why Mohammed M. Madi, Anthony Duncan, and Mohammed A. Madi founded the brand The Mad Optimist. 

The Mad Optimist has grown noticeably after their appearance on Shark Tank. It is currently making about $1M of annual revenue and has a net worth of $3.8M. They make vegan soap and customized body care products that are gluten-free and halal. 

Their pitch on the Shark Tank was a memorable one and the sales skyrocketed after that episode. Check The Mad Optimist Shark Tank update to see how they did afterward.

The Mad Optimist Shark Tank Profile

Before we go into the details, take a quick look at The Mad Optimist’s profile on Shark Tank.

Company nameThe Mad Optimist
FounderMohammed M. Mahdi (CEO)Mohammed A. Mahdi (COO)Anthony Duncan (CMO)
FoundedApril 19, 2012
ProductsBar SoapsBath SoaksBody SpraysLip Balms
Asked For$60,000 for 10% equity
Final Deal$60,000 for 20% equity
SharkMark Cuban
EpisodeS11 EP24
Air DateMay 15, 2020
Business StatusIn Business
WebsiteVisit Website
HeadquartersTerre Haute, Indiana, United States
Lifetime Worth (Sales)$3.8M *estimated
AwardsBest Visual Identity Award2014 EDGE Award
Go To AmazonBuy Now
Watch OnAmazon Prime

What Happened to The Mad Optimist After Shark Tank?

Before appearing on the Shark Tank, The Mad Optimist made a total of $800,000 in sales in the last seven years. This wasn’t a satisfactory figure for most sharks in the tank. The three founders asked for $60,000 of investment in return for 10% equity. But most sharks got out soon.

Mark Cuban primarily offered them $60,000 for 25% equity in The Mad Optimist. This reduced the primary valuation of the company that the founders asked for. After some intense negotiation, Mark Cuban agreed to give them $60,000 for 20% equity.

What Happened to The Mad Optimist After Shark Tank

Due to the standout pitch, this episode of the show went viral on social media. The impact of the show was so intense that The Mad Optimist made $80,192.39 in sales in just seven hours on May 15, 2020. 

This amount of sales is just crazy; their sales in the previous 11 months were just about $91,000. The Mad Optimist decided to donate the whole revenue of that night. 

And they did donate the amount for the refugees and the homeless. This caused an even more surge in their support and people started ordering madly.

But the drastic increase in orders and COVID-19 slowed down the production and many of their deliveries got delayed. 

Is The Mad Optimist Still In Business?

Yes. The Mad Optimist recovered from the inconveniences caused by COVID-19 and ramped up their production process. With increasing orders, they were able to cope with the situation and meet customer demands. 

This is what kept them in business and they are doing great in comparison with their sales before the Shark Tank appearance.

Is The Mad Optimist Still In Business

The Mad Optimist’s Net Worth

As the sales data isn’t publicly available, it is a bit tricky to assume their net worth. Let’s do some basic math. 

Before The Mad Optimist appeared on Shark Tank, they made a total of $800,000 in sales from the beginning. But after their introduction, the sales just boomed too much. In that year, they are estimated to make a total sales of $1M. 

Though the sales reduced slightly in 2021, they ramped up production in 2022 and continued to grow. In the next few years, they are making an estimated sales of $1M per annum. Considering all these amounts, their estimated net worth is about $3.8M.

The Mad Optimist Sales Data

As no sales data is publicly available, it is difficult to provide a concrete chart of their yearly sales. But you can assume from the previous discussion that The Mad Optimist is making more than $80,000 in monthly sales. 

A big part of their sales is coming from their official website. They are also selling their products on Amazon.

Is The Mad Optimist Profitable Now?

After the Shark Tank appearance, The Mad Optimist struggled a lot to cope with the order influx. But over time, they got with it and optimized their operations to meet customer demands. As of 2023, the company is making more than $1M in annual revenue.

Is The Mad Optimist Profitable Now

Considering their manufacturing cost and other costs mentioned in the Shark Tank episode, you can assume that they are making a good profit. Even though the company bears some social responsibility and donates to charity, its revenue figure is pretty good. 

So, it is safe to say that The Mad Optimist is a profitable company now. 

If you’re intrigued by the success stories that emerge from Shark Tank, you won’t want to miss the journeys of DrainWig and Bundil. Our article on DrainWig’s Shark Tank update delves into how this innovative solution for clogged drains has transformed into a household essential, providing convenience and ease of maintenance. Meanwhile, the Bundil update highlights how this cryptocurrency investment app has evolved since its appearance on the show, offering users a seamless way to enter the world of crypto. The journeys of these entrepreneurs showcase the diverse opportunities that arise from the Shark Tank platform.

Final Thoughts

Among the companies appearing on Shark Tank, some win our hearts with their visionary product and enthusiasm. The Mad Optimist is such a brand that received showers of love from people after their appearance on Shark Tank. They asked for $60,000 in return for 10% equity but got $60,000 for 20% at the end.

Even though they didn’t get the desired deal, their sales boomed after the show. From making less than $1M in sales in seven years, they started doing $1M in sales per year. And that is a huge improvement for a vegan body care brand in this short period.

Similar Posts

Leave a Reply

Your email address will not be published. Required fields are marked *