In season 3 episode 1, a brand came into media named “The Clean Bottle”. It is the easiest bottle to clean from the inside as it opens from both ends. How it is unique from other bottles?
Clean Bottle screws open from both ends which helps it to clean and dry fast when not in use. It was founded in 2010. In the year 2012, it got huge media fame for its appearance on the Shark Tank show.
Clean Bottle at a glance:
| BUSINESS | An easily washable bottle that opens from both ends |
| ENTREPRENEUR | David Mayer And Bill Walton |
| ASKED FOR | $60,000 For 5% |
| ACCEPTED OFFER | $60,000 For 8% |
| SHARK | Mark Cuban |
| BUSINESS STATUS | Acquired, In Business |
Index:
Who is the owner of Clean Bottle?
It was founded by Dave Myers in 2010. He is an Entrepreneur who tried very hard for his innovative idea of a bottle which is very easy to clean, dry, and use, which was named by him as “The Clean Bottle”.
After taking 3 years and 54 prototypes, he was able to succeed. Dave invested all his money for his creation. He came up with an idea while riding his bike in the afternoon.
After the creation, he almost had no money for marketing so his team decided to become or wear a giant water bottle shape and ran in Tour de France bike race to come up on T.V and it worked! The bottle boy became very popular overnight.
How was the Clean Bottle Shark Tank pitch?
Dave Myers thought to bring his bottle on the popular show in search of investors with a requirement of amount $ 60,000 for only 5% of its equity in return.
The Clean Bottle had already made a sale of $750,000 and was still going on up on the scale. He explained about his innovation along with manufacturing cost, and sales.
Sharks were very impressed with the sale it had made. Kevin O’Leary offered the same investment with 0% equity ( No one gives for free) with a demand of 50 cents per bottle till they are selling it.
Robert offered the same deal, he wanted in return of 10%, John also gave the offer for 25%, whereas Mark Cuban offered the same amount for 8% shares. Dave made a deal with Mark Cuban with the hope of getting on and on in the market.
What’s the net worth of Clean Bottle?
Before appearing on Shark Tank, the Clean Bottle had already earned a huge sale amount of $750,000, they were still going on and on and after getting the support of Mark, he made his company’s valuation up to $4 million in 2021.
The current status of this business is acquired by some private firm. It tried to do innovative advertising strategies which saved his cost, it had also bound a huge customer market, which used to give huge margin profit to Dave. It is also available on online platforms to increase profit.
They had expanded their business with some more addition of varieties, colors, features, quality, etc. which in return created value and revenue for them.
At the time of the shark tank appearance, Clean Bottle was valued at around $1 million.
What happened to Clean Bottle after Shark Tank?
After the Shark Tank show, he made his innovation better with few other benefits with his products. Today, the products come in various shapes, models, stainless quality, and original plastic bottles with variant and unique features and also in different colors.
After Shark Tank, Mark and Dave both worked and rose its sale higher and higher. In 2018, the company added coffee mugs and steel tumblers along with other products.
The stunt that David pulled at Tour De France earned him $750,000 as revenue. Various outlets took the product in when it earned around $70,000 in just fifteen days of its commencement. The company made $4 million as revenue, as of November 2021. The company had a valuation of around $750,000 at the time of Shark Tank.
It was acquired for an undisclosed amount in 2018 by Split Peak LLC, a private company.
Investors of Clean Bottle:
Mark Cuban is the shark that agreed to invest in Dave Myers’ pitch. Mark Cuban is an American billionaire Entrepreneur, Television personality, and Media proprietor.
Dave Myers came up with the pitch of $60,000 for 5% but in the end, he agreed to the offer of Mark which was quite less and acceptable as per Dave, as he demanded it to 8% and they made a deal. As of now, the company is acquired.
Competitor analysis of Clean Bottle:
There is not much competition present in the market against The Clean Bottle as it is actually very unique as compared to other bottles in the market. A few of its competitors are:-
- Mahaton
- Larq bottles
As they clean themselves with UV- C light which is quite competitive to Dave’s innovation.
Interesting Facts:
- It can be opened from both ends.
- During its initial stage, Dave made one of his teammates run in the bike race wearing a toy bottle (a mascot) for free advertising, which resulted in his favor.
- It is easy to clean and dry.
- After 3 years and 54 prototypes, it finally came into existence.
- The idea of making it came to its owners while he was riding his bike.
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What is Clean Bottle?
Clean bottle screws open from both ends which helps it to clean and dry fast when not in use
Is Clean Bottle still in business?
Clean Bottle was acquired for an undisclosed amount in 2018 by Split Peak LLC, a private company.