Going out to bars, clubs, or parties is a common way for people to unwind and socialize. However, there’s an underlying concern that many, especially women, face: the fear of having their drinks spiked. Drink spiking is a serious issue that can lead to dangerous situations, including assault and theft. The anxiety of leaving a drink unattended, even for a moment, can overshadow the enjoyment of a night out.
Recognizing this pervasive problem, siblings Shirah and Michael Benarde sought to create a solution that would offer peace of mind to partygoers.
Their answer was NightCap, a discreet and reusable drink cover designed to prevent unwanted substances from being added to beverages. This innovative product gained national attention when the duo presented it on Season 12 of “Shark Tank.”
They pitched their idea, seeking investment to expand their reach and enhance product development. The founder asked for $60,000 in exchange for 20% equity. The episode highlighted not only the ingenuity of their solution but also the pressing need for such a product in today’s social landscape.
NightCap Net Worth Shark Tank Update 2025
Shirah and Michael were looking for an investment of $60k in exchange for 20% equity in the company. At the time of the episode, they valued their company at $300k. Shirah and Michael successfully secured a deal with Lori for an investment of $60k for 25% equity in the company. The investment adjusted the company’s net worth to around $240k. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of NightCap is around $6 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Lori Griener
$60,000 for 25% equity
N/A
Yes
Barbara Corcoran
Out
N/A
N/A
Kevin O’Leary
Out
N/A
N/A
Daymond John
Out
N/A
N/A
Mark Cuban
Out
N/A
N/A
Shirah Benarde Backstory + Their Initial Pitch
Shirah Benarde, a college student, was deeply affected when a friend experienced drink spiking. This incident sparked her determination to find a preventative measure. One night, she dreamt of a solution: a drink cover integrated into a scrunchie. Upon waking, she fashioned a prototype using her mother’s pantyhose and a hair tie.
Recognizing the potential of this idea, she collaborated with her brother, Michael, who brought business acumen to the project.
Together, they refined the design and launched NightCap. Their product was a hit on social media, especially TikTok, where it resonated with a younger audience concerned about safety during nights out. The scrunchie could be worn on the wrist or in the hair and, when needed, stretched over a glass to prevent tampering. The simplicity and effectiveness of the design garnered attention, leading them to seek further investment and exposure through “Shark Tank.”
On the show, they presented their product, highlighting its low production cost of $2.82 and retail price of $11.99. They emphasized the scalability of the business and their commitment to addressing a significant safety concern. Their passion and the product’s potential caught the attention of the Sharks.
Queries + Shark’s Responses, and Final Deal
During the pitch, the Sharks had various questions and reactions:
Kevin O’Leary inquired about the product’s patent status and market competition. Upon learning that NightCap had a provisional patent and was entering a niche market, he expressed concerns about scalability and opted out.
Daymond John appreciated the concept but questioned the long-term viability and market size. He decided not to invest, citing uncertainties about the product’s widespread appeal.
Barbara Corcoran admired the siblings’ initiative but was skeptical about the product’s potential to become a mainstream accessory. She chose not to make an offer.
Mark Cuban was intrigued but had reservations about the product’s ability to penetrate the market effectively. He declined to invest.
Lori Greiner, known for her interest in innovative and practical products, was immediately drawn to NightCap. Recognizing its potential to address a real-world problem, she offered $60,000 for 25% equity. Shirah and Michael accepted her offer, securing a partnership that would prove beneficial for the company’s growth.
Product Availability
NightCap is a versatile and discreet drink cover designed to prevent drink spiking. The product doubles as a scrunchie, making it convenient to carry and use. It’s made from stretchable fabric that fits over most glass sizes, with a small opening for a straw. The design ensures that the drink remains covered, reducing the risk of tampering.
The product is available in various colors and styles, catering to different preferences. Customers can purchase NightCap directly from the official website, , as well as on major online retailers like Amazon. The company has also expanded its product line to include keychain versions, offering additional convenience. Prices are competitive, with single units and multi-packs available to suit different needs.
What Happened To The NightCap After Shark Tank?
Following their appearance on “Shark Tank,” NightCap experienced significant growth. The exposure led to increased sales and brand recognition. The company reported over $2 million in sales within a year of the episode airing. They expanded their product line, introduced new colors, and launched the keychain version to cater to a broader audience.
NightCap also formed strategic partnerships to enhance its market presence. Collaborations with organizations and influencers helped promote the product’s message of safety and prevention. The company focused on digital marketing, leveraging social media platforms to reach younger demographics concerned about drink safety.
As of today, NightCap continues to thrive, with an estimated annual revenue exceeding $5 million. The founders remain committed to their mission of providing a simple yet effective solution to a serious problem, ensuring that individuals can enjoy their social experiences with added peace of mind.
NightCap’s journey from a dream-inspired idea to a successful business underscores the impact of innovative thinking and determination. Shirah and Michael Benarde identified a pressing issue and developed a practical solution that resonates with many. Their appearance on “Shark Tank” not only provided the necessary investment but also validated their concept on a national stage.
The partnership with Lori Greiner proved instrumental in scaling the business and reaching a wider audience. Despite initial skepticism from some Sharks, NightCap demonstrated its value and potential. Today, the company stands as a testament to how addressing real-world problems with creativity and persistence can lead to meaningful change and entrepreneurial success.
Hey, I’m Amna Habib, an undergraduate student pursuing a Bachelor’s in Business Administration. Shark Tank has always been one of my favorite TV shows because it offers a unique glimpse into the world of entrepreneurship. The way entrepreneurs present innovative solutions to everyday problems aligns with my academic interests and fuels my curiosity about business strategies. Each pitch showcases creativity and strategic decision-making, which I find both insightful and inspiring. Watching the show has deepened my passion for business and motivated me to explore the world of entrepreneurship even further. Beyond business and writing, I love food, shopping, and spending time with my friends and family.
