Plastic waste from shampoo bottles is a significant environmental problem. Every year, millions of plastic bottles end up in landfills and oceans, harming wildlife and ecosystems. But one young entrepreneur had a vision to change that. Meet Benjamin Stern, the 16-year-old founder of Nohbo, who appeared on Shark Tank with an innovative solution to reduce plastic waste from shampoo bottles.
The Nohbo Pitch and Deal at Shark Tank
Benjamin Stern pitched his product, Nohbo shampoo balls, on Shark Tank Season 7. Nohbo are single-use shampoo balls that dissolve in water, eliminating the need for plastic bottles. Stern developed the product with the help of his grandmother and a freelance chemist.
During his pitch, Stern asked for $100,000 for 20% equity in his company. The sharks were impressed by his innovation and vision. Mark Cuban saw the potential and offered $100,000 for 25% equity, which Stern accepted. Cuban’s vast network of lawyers, manufacturers, and contacts made him the perfect partner for Nohbo.
Is Nohbo Still in Business?
Yes, Nohbo is still in business and thriving. After Shark Tank, the company faced some challenges with the formula and supply of their shampoo balls. Stern pivoted and transitioned from balls to gel-based shampoo ‘drops’, rebranding the company.
This move paid off, as Nohbo secured over 76 million purchase orders through 2022. The company opened a new factory in Melbourne, Florida, reducing costs and increasing production efficiency. Stern also launched another brand, Sunrise Session, and licensed his shampoo delivery technology to over 60 companies.
What Was Nohbo Net Worth?
As of 2021, Nohbo’s yearly revenue crossed $8 million for both Nohbo and Sunrise Session combined. The company’s net worth is estimated to be around $20 million, a testament to Stern’s entrepreneurial skills and the success of his innovative product.
Impact of Shark Tank on Nohbo
Appearing on Shark Tank was a game-changer for Nohbo. The show provided national exposure and validation for the product. Stern’s partnership with Mark Cuban opened doors to new opportunities and resources.
The eco-friendly nature and innovative design of Nohbo resonated with viewers, leading to positive reactions on social media during and after the episode aired. This buzz helped drive interest and sales for the company.
Business Overview
Nohbo’s mission is to reduce plastic waste by providing innovative, eco-friendly alternatives to traditional shampoo bottles. The company’s flagship product, Nohbo drops, are single-use, water-soluble pods that deliver shampoo without the need for plastic packaging.
Stern’s vision for Nohbo goes beyond just selling products. He aims to license the technology to hotels, gyms, and other businesses, making a significant impact on reducing plastic waste on a larger scale. The company has already licensed its technology to over 60 companies, showcasing the scalability and potential of Nohbo’s business model.
Conclusion
Benjamin Stern’s journey with Nohbo is a testament to the power of innovation, perseverance, and entrepreneurship. From a 16-year-old with a vision to reduce plastic waste to a multi-million dollar company, Nohbo has come a long way since its Shark Tank appearance.
With the support of Mark Cuban and the exposure from Shark Tank, Nohbo has grown into a successful business that is making a real impact on the environment. Stern’s story inspires young entrepreneurs to pursue their dreams and make a difference in the world.
If you’re interested in learning more about Nohbo and its mission to reduce plastic waste, check out their website at nohbodrops.com. Collaboratively, we possess the power to drive positive change, shaping a sustainable future that will endure for generations to come.
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