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Wisp Broom Shark Tank Update

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Are you a stickler for cleanliness who cannot stand even a tiny bit of dust on the floor, or is a member of your family constantly spilling, and you feel compelled to clean up after them? Is it hard for you to sweep under the tables, and around the chairs, the tight corners?

Will there be a lot of bending as a result? Wisp, however, has altered the conventional and antiquated method of cleaning your home. Wisp offers a method for sweeping that is scientific, quicker, and simpler. It reduces people’s cleaning efforts and enriches their quality of life with family and pets.

This modern broom contains Bristle Seal Technology which creates a squeegee-like magnet tapping any type of debris. It has a telescoping handle up to 51” and down to 29”. It’s light in weight and yet durable.

It has an easy one-handed push or pulls motion. The bristles are made of electrostatic polymer. It also comes with a holder, which can be stuck to the wall or any door. Sweeping is now made easier.

Wisp at a Glance:

IdeaTo reduce people’s cleaning efforts.
FoundersEben Dobson
Asked For$500,000 For 10% equity
Accepted DealNo deal
SharksNo Sharks
Business statusIn Business
Episode No.Season 10, Episode 5
Buy on AmazonBuy Now!

Index:

What is Wisp Broom?

Wisp Broom is a broom and dustpan set with a unique design that helps clean floors more efficiently. The product appeared on Shark Tank in 2017, and its founder, Eben Dobson, made a deal with investor Lori Greiner for $100,000 in exchange for a 33.3% stake in the business.

The Wisp Broom features a patented bristle design that uses electrostatic energy to attract and trap dirt and debris. The broom’s bristles are made from a combination of soft and stiff materials, which help it pick up both large and small particles. The broom also has a telescoping handle that can be adjusted to different lengths for comfortable use by people of different heights.

The Wisp Broom’s dustpan is also designed with a unique shape that helps to funnel dirt and debris into the pan more easily. The dustpan has a flat edge that allows it to sit flush against the floor, which helps to prevent dust and debris from slipping under the pan.

Founder Story:

Eben Dobson III belongs to San Diego and is the founder of the company. He is a golf player and was nicknamed “Wisp” by his friends. Eben first invented a special hand brush with unique bristles that could clean debris from the golf green.

After receiving approval for the product WISP was formed in 2012. It was Eben’s long-time ambition and he felt the need to reinvent or modify the broom and dustpan- useful to every generation. It was his life experience that helped him create the WISP system, that not only made sweeping easier and more effective but also eliminated back and knee.    

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Did WISP get a deal on Shark Tank?

Wisp entered Shark Tank in 2018 seeking an investment of $50,000 for a 10% share of the company. The sharks were impressed with the product and the sales to date which were $3.3 Million until they got to know that the company had suffered a loss of $600,000 and was in debt of $2.1 Million and has 22 investors.

Barbara is out due to the lack of execution, Blake like the product, and agrees to buy the product but doesn’t want to invest in it. Kevin offers $500,000 for 50% and Lori wants to join as a helper but does not want to invest any money. This conflict of Eben wanting Lori to join the deal makes him lose Kevin’s deal too, and WISP leaves without the deal.

What Happened to WISP after Shark Tank?

After the show, Lori Greiner offered to display the product on her show QVC. The valuation of the company today is $14 Million, the sales were $3.3 Million before it appeared on the show. The valuation of the company during the pitch was $5 million as per the founder.

The annual revenue is $7 Million, and the annual growth in the revenue is $703,100. The cost to make the product was $17 and retails for $29.95.After Shark Tank, products for Outdoor and Indoor cleanings were introduced.

Since the show, Wisp Broom has continued to sell its products online and through various retailers. The company has also expanded its product line to include other cleaning tools, such as a hand broom and a pet hair remover. The Wisp Broom has received generally positive reviews for its effectiveness and ease of use.

What is the net worth of WISP?

The net worth of the WISP during the pitch was $5 million as per the founder and today it’s $14 Million.

Is WISP still in business?

Yes, the company is still in business. Wisp Broom has received generally positive reviews for its effectiveness and ease of use.

Customers have praised the broom’s ability to pick up dirt and debris quickly and efficiently, and many have found it to be an improvement over traditional brooms and dustpans. The company’s website is still active and appears to be taking orders for its products.

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FAQs:

What is Wisp?

Wisp offers a method for sweeping that is scientific, quicker, and simpler. It reduces people’s cleaning efforts and enriches their quality of life with family and pets.

What's the net worth of Wisp?

The net worth of the company during the pitch was $5 million as per the founder and today it’s $14 Million.

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