Stress and anxiety often affect people of different ages, resulting in physical and mental problems. The abrupt patterns such as insomnia, ultimate focus, and debilitating meltdowns become challenging for people. Preventive measures, including medication, therapy, and calming strips mitigate such issues.
Michael Malkin and Luce Fuller experienced coping with mental stigmas. They acknowledged the need for manageable and suitable solutions to help people of all ages calm down and modulate their emotions. This attainment resulted in the creation of Calm Strips to address the problems.
Michael and Luce pitched the Shark Tank in episode 13 of season 13. They seek $250k in return for 10%. They explained the strategic idea of Calm Strips to regulate emotions. Both presented the project of rubbing at the samples. Will they become involved in making a deal with the Sharks? Stay tuned and see what is coming next.
Calm Strips net Worth 2024 shark Tank update
Michael Malkin and Luce Fuller were looking for an investment of $250k in exchange for 10% equity in the company. At the time of the episode, they valued their company, Calm Strips, at $2.5 million. Michael and Luce successfully secured a deal with Robert Herjavec for an investment of $250k for 35% equity in the company, along with $2.50 per unit until he gets his money back and $1 per unit in perpetuity until he nets $750k. The investment adjusted the company’s net worth to around $714k. After the show was aired, the company experienced a significant boost in exposure. As per my rough estimate, the current net worth of Calm Strips in 2024 is around $10 million.
Shark(s) name
Offer and Demand
Counter Offer
Accepted?
Daymond John
Out
N/A
No
Robert Herjavec
In
$250k for 35% equity $2.50 per unit until he gets his money back + $1 per unit in perpetuity until he nets $750k
Yes
Mark Cuban
Out
N/A
No
Kevin O’Leary
Out
$250k and $2.50 per unit until $250k until $250k then $1 unit in perpetuity
No
Founders Backstory and Their Initial Pitch
The founders articulated the idea of Calm Strips ahead of Shark Tanks. For 13 years, Micheal worked in an Apple retail store. The environment was manually stressful and it triggered his anxiety at each level of life. Then he started wrapping some carpenter’s tape around the finger and rubbed it thoroughly. Hence, rubbing calms down, especially the tactile sensory touch. According to science, the tactical sensory touch reduces anxiety in a stressful surrounding. It makes you feel calmer and cool.
Michael discovered the calm strips because he wanted to cope with anxiety and mental problems. According to Michael, the Rubbing causes calmness. Likewise, the sticky substance gets attached like a fidget spinner but is more crystal clear. The strips can be bonded to any electronic media, such as mobile laptops and computers. If someone feels traumatic, then rubbing the calm strips is the solution to get lightened.
Micheal and Luce pitched the shark tank seeking $250k for 10% equity. They shared their views about calm strips and ground people. They also explained in the best possible way how calm strips reduce anxiety and depression. The calm strips attach to any substance or medium. Similarly, the rubbing enhances a calming effect because it has a sensory touch. Michael and Lucy gave the strips to the Sharks and wanted to secure a deal with them.
In today’s world, everyone has mental problems, but Michael and Lucy have solid solutions. What do you think will they become successful in securing a deal with Sharks? let’s see what’s coming next.
Queries and Shark’s Responses, and Final Deal
Michael and Luce were seeking $250k for a 10% stake. They presented their product in front of sharks. Meanwhile, both were explaining about the usage of calm strips. At the moment Daymond John Did not get their idea so he was out. Luce claimed they have over 100k individuals whose return rate is lower than 1%.
A five-packet cost of the soft hand texture is $1 and the river stock texture values $2. Michael and Luce purchased it for $12.99. Earlier, when they bought their product in the market, the sales were $2.5 million. Kevin shows an interest in the product and sales. Back in 2020, the product’s financial gain was $193k. The profit gets less because it was summer season so, the declining occurs.
Similarly, Robert Herjavec got the concept. Michael stated that 45 million US citizens have depression and anxiety. His son has autism so he wanted to start the business for people to help them. Daymond John loves the numbers but he was out as he did not understand the concept of calm strips. Mark thought that cannot sell so he was also out. However, Kevin recommended $2.50/unit until he gets his money back + $1/unit in perpetuity. Additionally, Robert offers them $2.50/unit until he gets his money back. Later, he offered $1.50/unit until he earned $750k. Michael offered Lori that if she wanted to make a deal then Robert would be out but Lori said that she would offer the same as Kevin did. Lori demanded an 8% stake. Then, Michael asked Robert if he undertook $20k for a 20% stake but Robert said no. Then Michael and Luce recurred their initial deal and acknowledged to team up with Robert.
What went wrong with Calm Strips On Shark Tank?
Daymond John didn’t understand the concept of calm strips do was out. Next, Mark Cuban’s opinion on the product sales was disbelief. He enunciated that calm strips will not make a profit in the future so, he was out.
Kevin offered $2.50 per unit until he gets his money back and also $1 per unit in perpetuity. Michael and Luce declined his offer and decided to team up with Robert.
Product Availability
The Products are available on the official websites of Amazon and calm scripts. Michael and leaves did not end the deal with Robert. Additionally, the company is in profit and sales. According to February 2022, the company flourishes in America in terms of sales. By November 2023, the trade market uplifted up to 240 stores. The yearly income is over $1 million. By July 2024, the Calm Strips financial gain was over $10 million.
Michael and Luce appeared all Shark Tank and promoted their company “Calm Strips’’. They seek $250k in return for 10 % equity. Both presented their product i.e. Calm strips on Shark Tank. The strips are creative sensory cohesive designed to mitigate anxiety and agitation. At the start, the panelists were mesmerized by the impressive numbers and requested to make a deal with Michael and Luce. Robert Herjavec decided to invest about $250k for 35% equity and $2.50/per unit until he gets his money back $1 /unit in perpetuity until he nets $750k. Michael and Lucy agreed to team up with Robert. Both shook hands with Robert and ended the pitch with a great deal of investment.
Hi! I’m Maleeha Alam, a content writer, English poet, and MPhil Linguistics Scholar. I love watching Shark Tank episodes because it helps me extract business-related ideas. The thrilling series of the Shark Tank fosters competent market analysis, presentation skills, and pitching.
