Wisp Shark Tank Update

Wisp Shark Tank Update: How Are They Doing Now?

Wisp is a household cleaning tool manufacturer, like brooms, mops, etc., and has been in business since 2012. After appearing in Shark Tank, Wisp is still running in the market with its newly designed products. 

Wisp Shark Tank update is just like the previous days, they have been manufacturing more facilitated cleaning tools, from a broom to a mop. But the profit level is still not up to margin. 

Well, Wisp is still walking on the rough road to reach its desired goal. Nevertheless, their efforts are appreciable in introducing such innovative products. Let’s get to know what they are up to down below.

Wisp Shark Tank Profile

WISP Broom

The overall Wisp shark tank profile update is given below. 

Company name Wisp 
Founder Eben Dobson 
Founded 2012 
Product Cleaners such as broom, cleaning set, mop, vibrating spray cleaner
Business status In business 
Appearance on Shark Tank Season 10, Episode 5
Air Date18th November 2018
Asked for $ 500,000 for 10% of the company 
Final deal No deal 
Shark No shark
Net worth $14 million 
Primary Office San Marcos, CA
Website WISP Broom
Watch the EpisodeAmazon Prime
Go to Amazon Buy Now on Amazon
Instagram Visit Instagram
Facebook Visit Facebook 
Twitter Visit Twitter
Linkedin Visit Linkedin

Wisp Before Shark Tank

Wisp was established in 2012, coming with newly modified brooms for household cleaning. The brooms were frequently modified by the company. And they even sold up to 100,000 units of product within 6 years. 

Even after selling such a huge amount of product, they could not make any profit. Instead, the company lost more money. 

Still, after having 22 investors and valuable products, they could not utilize the money at all. 

Their mismanagement and bad decisions lead them to a very bad debt. Even after having numerous obstacles in business, they applied at Shark Tank in the hope of seeing a new ray. 

Nevertheless, was it worth it? What happened to Wisp after the shark tank? Well, you will find the answer in detail in the below sections. 

What Happened To Wisp On The Shark Tank?

Even though Wisp gained fame from Shark Tank, people still wonder whether Wisp was on Shark Tank. To confirm for you again, yes, Wisp was in episode 5 of season 10 of The Shark Tank. 

In Shark Tank, wisp presented brooms with specialized facilities. The broom came with a bristle and comblike end, which cleans the dirt even from the corner of the house. 

In the pitch, Dobson, the founder of Wisp, highlighted the benefits of the broom. 

What Happened To Wisp On The Shark Tank

He included sweeping and cleaning becomes effective and fast as the broom can be used while standing. Apart from that, the brush in the broom was fixed at a 90-degree angle. That facilitates cleaning even the slightest dirt. 

Moreover, you could hold the handle of the broom at an angle or straight in any way it would go through every space.

Inside The Shark’s Mind

They lost $2.1 million due to bad management. Furthermore, the company had 22 investors who had $300,000 worth of investments. 

All these influenced the Sharks because business is all about profit. And at the same time, Wisp has a debt of over 2 million dollars. Well, none wants to be paired with a company with debt.

Still, being generous, Kevin offered $500,000 with a 50% stake. But the situation got worse when Lori offered to help in publicizing the product without giving a penny. Here, Kevin only responded as he would discuss it later. 

Consequently, Dobson wanted to include Lori in the deal to get help. While trying to get the attention of Lori, he forgot that he was cracking a deal with Kevin.

This made Kevin furious, and he withdrew the deal. Lastly, dobson left the shark tank with an empty hand with no Shark invested. He lost a very good deal due to his desperate decisions at the crucial moment. 

What Happened To Wisp After The Shark Tank?

Wisp after Shark Tank continued their business. Even though the company left without getting any investments from the Sharks, they are still running in 2023.

However, Lori showed support for Wisp and reached out to them. That’s why since 2018, Wisp has been appearing on QVC. The publicity has reached a peak where all the products are sold out within a short time. 

What Happened To Wisp After The Shark Tank

They also came with some new products, and those have been discussed below. 

Products 

Wisp has also offered cleaning sets for regular use.

They have a window cleaning set and indoor and outdoor cleaning set. Moreover, the product list also includes a vibrating spray mop that costs just $50. 

The newly launched products also have got the attention of the consumer and are selling in a bunch. All these products would facilitate the cleaning with less effort. 

Wisp Net Worth

Wisp Shark Tank episode 5 of season 10 highlighted that Wisp had a net worth of only $5 million. 

Due to their appearance in the Shark Tank, they have got a raise in their net worth. Their net worth was $5 million previously, which was increased to $14 million after their appearance in the shark tank in 2018. Shark Tank has doubled the worth of the Wisp company by introducing the product to consumers. 

Wisp Net Worth

Wisp Sales Data

Previously, Wisp sold over 100,000 units and had sales of over $3.5 million. Now, the sales of the recent year 2023 are still unknown, but the products are sold out in QVC, which shows they are doing great. 

Moreover, revenue is also $7 million, which indicates a steady growth of the company. 

Is Wisp Profitable Now?

Yes, the Wisp update indicates that Wisp is a profitable company. Because the recent updates show the company has a revenue of $7 million. It also operates with 27 employees. This certainly indicates that Wisp is not just selling products but also making a profit, unlike in earlier days. 

Is Wisp Profitable Now

Table: Revenue Per QOQ Of The Year Of Wisp 

Below, the revenue of Wisp per QOQ for the year from 2018 to 2021 is given. 

  • Q1: January-March
  • Q2: April-June
  • Q3: July-September 
  • Q4: October-December 
Year Revenue 
2018 Q4$7 million 
2019 Q1$7 million
2019 Q2$7 million
2019 Q3$7 million
2019 Q4$6.907 million
2020 Q1$6.907 million
2020 Q2$6.907 million
2020 Q3$6.907 million
2020 Q4$6.907 million
2021 Q1$7.031 million
2021 Q2$7.031 million
Exploring the post-Shark Tank journeys of innovative businesses can provide valuable insights into the world of entrepreneurship. If you’re intrigued by these stories, our coverage includes updates on Wisp and Chill Soda, as well as the remarkable journey of Titin. Our comprehensive article on the Chill Soda Shark Tank update offers a detailed look at the progress and growth of this unique venture. Moreover, our coverage of the Titin Shark Tank update provides insights into how this remarkable company has evolved since its appearance on the show. By delving into these updates, you’ll gain a deeper understanding of the entrepreneurial landscape and the strategies that contribute to sustained success.

Conclusion 

Overall, the Wisp shark tank update has shown the company is doing well with a few newly launched products. They started their journey with the innovation of the broom and have continued since 2012.

Furthermore, Wisp appeared in Shark Tank with the hope of getting investment from renowned Sharks. To deal with their debt, they tried their best to publicize and market their products at 50% off. 

Wisp today is finally selling its products and stepping toward profit. This journey has not been easy, but the Wisp is not easy to be defeated either. 

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