Stryx Net Worth Shark Tank Update 2025 

In today’s world, many men face challenges when it comes to skincare and cosmetics. Society often associates makeup and skincare products with women, leaving men feeling self-conscious or hesitant to explore these options. This stigma can lead to a lack of confidence and discomfort in social situations, especially when dealing with skin imperfections like acne or dark circles.

Recognizing this gap in the market, entrepreneurs Devir Kahan and Jon Shanahan set out to create a solution tailored specifically for men.

Their company, Stryx, offers a line of cosmetics and skincare products designed to help men feel more confident and comfortable in their skin. From concealers to moisturizers, Stryx aims to normalize men’s grooming and make these products more accessible.

 In Season 13 of Shark Tank, Devir and Jon presented their business to the Sharks, seeking an investment to help grow their brand. They asked for $600,000 in exchange for 5% equity in their company. The pitch sparked interest and led to a deal with Robert Herjavec, who offered $600,000 for 10% equity. However, despite the promising handshake on the show, the deal ultimately did not materialize. 

Stryx Net Worth Shark Tank Update 2025 

Devir Kahan and Jon Shanahan were looking for an investment of $600,000 in exchange for 5% equity in Stryx. At the time of the episode, they valued their company at $12 million. Devir and Jon accepted a deal with Robert Herjavec for an investment of $600,000 for 7.5% equity in the company. The investment adjusted the company’s net worth to around $8 million. After the show was aired, Stryx saw a big increase in website traffic, sales, and social media exposure. As per my rough estimate, the current net worth of Stryx is around $15 million.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Daymond John	Out	N/A	N/A
Lori Greiner	Out	N/A	N/A
Kevin O’Leary	$300k + $300k as a loan for 2.5% + a royalty of $2 until $600k is paid, which drops to 25¢ in perpetuity	N/A	No
Robert Herjavec	$600,000 for 10% equity	$600,000 for 7.5% equity	Yes
Mark Cuban	Out	N/A	N/A

Devir Kahan and Jon Shanahan Backstory + Their Initial Pitch 

Devir Kahan and Jon Shanahan noticed a significant gap in the cosmetics industry: products specifically designed for men. They realized that many men wanted to improve their appearance and boost their confidence, but felt uncomfortable using products marketed towards women. This insight led them to create Stryx, a brand offering discreet and easy-to-use cosmetics tailored for men’s needs.

Starting a cosmetics company for men came with its challenges. The founders had to overcome societal stigmas and convince investors and consumers that there was a legitimate market for men’s cosmetics. They invested heavily in marketing to educate potential customers and build brand awareness. Despite these efforts, they faced financial hurdles, with most of their revenue going back into marketing, leading to monthly losses of about $50,000.

During their Shark Tank pitch, Devir and Jon confidently presented their products and business model. They highlighted their $2 million in lifetime sales and monthly sales of approximately $130,000. They emphasized the high margins on their products and the growing demand for men’s grooming products. Their ask was $600,000 for a 5% equity stake in Stryx, valuing the company at $12 million.

Queries + Shark’s Responses, and Final Deal

The Sharks had several questions and concerns about Stryx’s business model and valuation.

Lori Greiner expressed skepticism about the company’s branding and packaging, stating that it wasn’t clear enough to convey the product’s purpose. She felt that the name “Stryx” and the packaging didn’t effectively communicate that the products were cosmetics for men. Due to these concerns, she decided not to invest.

Daymond John was concerned about the company’s high valuation and the fact that it was not yet profitable. He felt that the risk was too high and chose not to invest.

Mark Cuban didn’t agree with the founders’ approach to the business and didn’t see a fit with his investment strategy. He also decided not to invest.

Kevin O’Leary saw potential in the business but was wary of the high valuation. He offered a deal involving a $300,000 loan and $300,000 for 2.5% equity, along with a royalty of $2 per unit sold until $600,000 was repaid, and then a perpetual royalty of $0.25 per unit. The founders were hesitant about the royalty structure and did not accept this offer.

Robert Herjavec was impressed by the founders’ passion and the company’s sales figures. He offered $600,000 for a 10% equity stake. Devir and Jon attempted to negotiate for 7.5% equity, but Robert stood firm on his offer. Ultimately, the founders accepted Robert’s deal on the show.

Product Availability

Stryx offers a range of cosmetics and skincare products designed specifically for men. Their product line includes concealers, tinted moisturizers, under-eye serums, pimple patches, and bronzers. These products are formulated to be discreet and easy to use, catering to men who want to enhance their appearance without the stigma associated with traditional makeup.

Customers can purchase Stryx products directly from their official website, stryx.com. The website offers detailed product descriptions, usage guides, and customer reviews to help buyers make informed decisions. Additionally, Stryx products are available through various online retailers, expanding their reach to a broader audience.

What Happened To The Stryx After Shark Tank?

Despite the setback with the Shark Tank deal, Stryx continued to grow and expand its presence in the men’s grooming market. The company leveraged the exposure from the show to increase brand awareness and attract new customers. They received coverage in prominent publications such as Forbes, The Wall Street Journal, and Men’s Health, further establishing their credibility in the industry.

Stryx continued to innovate and expand its product line, introducing new items like tinted moisturizers with SPF and pimple patches. They focused on direct-to-consumer sales through their website and formed partnerships with select retailers to reach a wider audience. The company also invested in marketing campaigns to educate men about the benefits of their products and normalize the use of cosmetics in men’s grooming routines.

As of today, Stryx remains in business and continues to thrive in the men’s cosmetics market. Their commitment to providing high-quality, discreet products tailored for men has resonated with customers, leading to a loyal and growing customer base.

Conclusion 

Stryx’s journey on Shark Tank highlighted the challenges and opportunities in the emerging market of men’s cosmetics. While the on-air deal with Robert Herjavec did not come to fruition, the exposure and experience gained from the show contributed to the company’s continued growth and success.

By addressing a previously overlooked segment of the market, Stryx has carved out a niche for itself and continues to empower men to feel confident and comfortable in their skin.

The company’s story serves as an inspiration for entrepreneurs looking to challenge societal norms and create products that cater to underserved markets. Stryx’s dedication to innovation, quality, and customer education has solidified its position as a leader in men’s grooming, and its future looks promising as it continues to expand and evolve.