NOHBO Shark Tank Update

NOHBO Shampoo Balls are made of plant-based material and are manufactured by NOHBO. NOHBO is a company that focuses on the removal of non-degradable plastic waste from the planet and saving turtles and birds from the harm that these plastics cause. NOHBO Shampoo Balls can be put to use by making them in contact with water or friction.

NOHBO aims to eradicate harmful plastic waste by developing daily-used products from biodegradable plastic that can dissolve easily into the Earth. One does not have to stop using their day-to-day products like cosmetics because of the harmful plastic containers they come in. They simply have to switch to NOHBO, which is an eco-friendly alternative.

NOHBO Shampoo balls at a Glance:-

IdeaShampoo ball for single use which requires no packaging.
FoundersBenjamin Stern
Asked For$100,000 For 20%
Accepted Deal$100,000 For 25%
SharksMark Cuban
Business statusIn Business
Episode No.Season 7, Episode 18
WebsiteNOHBO

Index:

Who are the founders of Nohbo Shampoo Balls?

Benjamin Stern from Florida is the founder of NOHBO. He saw a documentary in his ninth grade about the harmful effects of plastic and how it affects oceans and sea plants and animals. He wanted to do something about it but did not have the funds to do so.

So, he decided to start a Kickstarter campaign, which failed, unfortunately. He then borrowed money, used his savings and education funds, and hired a chemist to develop the product when he had raised $20,000 from investors. He wanted a shark’s help to license his corporation to a large firm.

Did Nohbo Shampoo balls get a deal on Shark Tank?

Ben came on the go looking for investment so he could reach every store in the USA. Ben came on the show with Bubbe ( his grandmother) and asked for an investment of $100,000 in exchange for 20% equity in his business. Ben washes Bubbe’s hair with a shampoo ball to demonstrate the product. After that, he handed a few samples to the shark’s brakes.

Lori breaks the balls to see what’s inside them. Mark loved the product and called him out of the blue. Ben shared his efforts and hard work. Mark appreciated his work and passion. Mark says that hotels don’t educate consumers and Ben should go for a direct trip. Lori Greiner suggested to him that you should never sell a product before you have licensed it. Lori Greiner felt it was too early and went out. Mr. Wonderful shared that patents are everything and it’s a long way to go, so he’s out.

Robert Herjavec. If the patent is really big, then they could make it bigger and give an offer of $100,000 in exchange for 20% equity. Mark Cuban said, Ben, reminds him of himself. Mark Cuban gave an offer of $100,000 for 25% equity as he’d support Nohbo with accounting, OEM manufacturing, and others too. Barbara Corcoran also gave the same offer as Robert. Ben shows a gesture by thanking all the sharks for their offers and suggestions. Ben took a deep breath and accepted Mark’s deal. Ben and Mark shake hands and the pitch gets closed.

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What happened to Nohbo after Shark Tank?

NOHBO after the shark tank faced a journey of success and challenges. After the show, when the show aired, Nohbo attracted a lot of customer attention. The deal between Mark and Ben was closed. Mark loved Ben as she saw young Mark in him. After the show, some products of the Nohbo were in demand and some were not given any value. Mark Cuban supported as an investor on behalf of his expertise and various connections.

There were various challenges faced by NOHBO. Shipping was a major concern. In 2016, many customers gave negative feedback about the Nohbo balls, which was the other hindrance to dealing with. It took a bit of time, but gradually time changed for Ben. He was awarded a young entrepreneur award by Governor Rick Scott of Florida with the hope of seeing more growth of Nohbo balls around. Later, Benjamin was planning on expanding his care products and improving the Nohbo balls more and more. In 2018, Ben modified the process and also rebranded the business as “Nohbo Drops”.

During the pitch, Nohbo had a valuation of $500,000. After pitching, Robert Herjavec offered the same valuation of $500,000. Mark Cuban was the second shark to give an offer that showed a valuation of $400,000 and still, Ben took the Mark Cuban deal as he valued strong relationship building rather than money and valuation. Hypothetically, Nohbo’s valuation was more than asked for as Mark Cuban is a very professional and knowledgeable investor who has the power to change the success scale of his expertise channels.

A pack of 15 Nohbo balls costs $10. As of 2020, Ben has a $76 million purchase order in hand and he has closed $3.5 million of venture funding.  NOHBO was again invited to the shark tank in the 11th segment. In the updated segment, Mark Cuban felt that it could soon touch up to $100 million worth of business.

As of May 2022, Ben launched another brand called Sunrise Session and he also won the People’s Choice Awards. By August 2022, he had successfully licensed his technology to over 60 firms. NOHBO balls are changed to Nohbo drops and they are doing great in sales.

Competitors of Nohbo are:-

  • New Wave Enviro
  • Better Living Products
  • Bromate
  • Molly’s Suds

What is the net worth of Nohbo shampoo balls?

The valuation of Nohbo on the show was $5,000,000, which was brought down by  Mark Cuban to $4,000,00. The estimated net worth of Nohbo Shark Tank is $8 million.

Is Nohbo Shampoo ball still in business?

Nobo balls are still in business. NOHBO added various products during the journey and also rebranded itself as Nohbo drops. BizzBucket wishes great success to Nohbo drops.

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FAQs:

What is NOHBO?

NOHBO Shampoo Balls are made of plant-based material and are manufactured by NOHBO. NOHBO is a company that focuses on the removal of non-degradable plastic waste from the planet and saving turtles and birds from the harm that these plastics cause.

Who founded NOHBO?

Benjamin Stern from Florida is the founder of NOHBO. He saw a documentary in his ninth grade about the harmful effects of plastic and how it affects oceans and sea plants and animals. He wanted to do something about it but did not have the funds to do so.

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