Drip Drop is a delicious brand item full of sweetness and happy bite.
Drip Drop is a simple innovation by two teenagers, which solves a basic but actually the most important problem of dropping ice cream and saves it from becoming a whole mess. It is ring-shaped cream cone material in which ice cream is kept inside. It is completely edible, neat, and delicious. There are two flavors:- Original and Chocolate. It also helps to save tons of napkins. Drip Drop is a solution to a messy problem.
Drip Drop at a glance:
|BUSINESS IDEA||Edible ice-cream holder|
|fOUNDERS||Sam Nassif And Oliver Greenwald|
|ASKED FOR||$50,000 For 20%|
|ACCEPTED OFFER||$50,0000 For 33.3%|
|BUSINESS STATUS||Out Of Business|
Who is the owner of Drip Drop?
Oliver Greenwald and Sam Nassif are the two young High school founders of Drip Drop. The evolution of Drip Drop is simple and appreciable. In 2011, they participated in Gates Invention and Innovations Competition in which they got a task to develop a product that can solve a problem that occurs in daily life.
So one day they saw two children having ice cream fully messed up and from there they got the idea of Drip Drop. They also won that competition and came into the business world.
How was the Drip Drop shark tank pitch?
Sam and Oliver came to the Shark Tank show in episode 723 looking for an investment to license their Drip Drop. They needed an investment of $50,000 for 20% equity in their business.
They showed their product demonstration to the sharks and they were very impressed by these two youngsters, especially by Oliver’s statement that they might not have a license in hand but they have a patent.
Mark Cuban went out as he thought it required a lot of work in it, he suggested them to show their patent to various ice cream shops and should develop various networks.
Robert opposed Mark’s statement and said that they should focus on their own game but they are at an early stage and they didn’t need investment and went out. Kevin O’Leary was impressed with the patent but went out as he also didn’t find it investable. Barbara was completely agreed with Mark’s suggestion and moved out.
Lori believed that they had a proper plan and they could do that by themselves, she didn’t want to take a piece of their profit in her pocket and moved out.
Oliver requested Barbara to invest so that every American can believe that dreams come true to which Barbara offered the amount of $50,000 for 33.3% equity in the business. Boys took a moment and accepted the deal.
What happened to Drip Drop after Shark Tank?
After the Shark Tank show, they got their investment from Barbara Corcoran in 2016, they were working hard to perfect their design and its growth. Oliver shared that it costs them just $0.3 per unit and they sold it for $ 10 per unit, which is actually a huge margin game. Company valuation before was $250,000, but unfortunately, it is not more in the business world.
In early 2018, Oliver went out of the company and at that time, they had three stores, whereas Nassif, although started Alternacare health, he has still kept it active on his LinkedIn Page.
Oliver had also developed Make Shit Happen which gives a 5-minute social change task for when they are on the toilet. Although the idea was unique and ‘yummy’, unfortunately, Drip Drop is not in business.
In 2018, co-founder Oliver Greenwald left the company, and currently, he works for Zoom, whereas Sam Nassif still lists himself as the founder, and on LinkedIn, the company is still shown running but the company’s social media handles tell a different story. The official website and social media pages have not been updated. The product is also out of Amazon.
What’s the net worth of Drip Drop?
At the time of the shark tank appearance,Drip Drop was valued at around $150,000.
These two boys are remarkably genius and they use their innovative ideas to add value to Drip Drop and revenue to their pockets. They also sell Drip Drop t-shirts, which is another source to earn a huge profit, and also free marketing is done through that, which attracts more customers.
As it is completely unique and edible, it is likable by people of all ages, more customers, more revenue. Currently, Drip Drop is out of the league.
Drip drop is actually a completely unique product but a few of its alternatives in the market are:-
- Barkly pets
- Peak city Puppy.
- Happy Hounds.
A few of its interesting facts are:
- It is completely edible
- It is cost-effective
- It can save tons of tissues from wastage
- It solves the problem of mess
- It is loved by people of all the ages
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What is Drip Drop?
Drip Drop is ring-shaped cream cone material in which ice cream is kept inside. It is completely edible, neat, and delicious.
Who founded Drip Drop?
Oliver Greenwald and Sam Nassif are the two young High school founders of Drip Drop.