Sometimes cleaning diapers can be challenging and annoying for the caregivers, especially when putting diaper cream. The old-fashioned ways of applying different creams with fingers and vibes lead to rashes on children’s skin. Likewise, it transfers bacteria from the diaper to hands, causing infectious diseases. Thus, the need for hygienic product is of prime means.
Aleena Kravchenko, the Inventor and CEO of SwipeNsnap cream applicator pitched her product in front of Sharks. She appeared as a fairy Godemother fairy in season 12 with her mother. According to Aleena, SwipeNsnap is a single-hand cream applicator and is convenient in mitigating stress and mess for both the parents and children.
Aleena seeks $120k in return for a 10% stake in the SwineNsnap cream applicator. Will she become successful in making a deal with the Sharks? Find out about the recent update and Aleena’s pitch.
SwipeNsnap Net Worth 2024 Shark Tank Update
Aleena was looking for an investment of $120k in exchange for 10% equity in the company. At the time of the episode, she valued her company at $1.2 million. Aleena successfully secured a deal with Kevin and Lori for an investment of $120k for 50% 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 SwipeNsnap in 2024 is around $1 million.
Shark(s) name
Offer and Demand
Counter-offer
Accepted?
Robert Herjavec
Out
N/A
No
Kevin O’Leary
In
$120k for 25%
Yes
Lori Greiner
In
$120k for 25%
Yes
Daniel Lubetzky
Out
N/A
No
Founders’ Backstory and Initial Pitch
Aleena lost her job in 2009; it was a challenging time for her. She was 21 when her son was born. Being a single mother, it was stressful for her to find a stable job. When Aleena was 12 years old, she emigrated with her mom and sister from Ukraine to America. She thought that her dreams would come true in the US. Meanwhile, the economy collapsed at the same time, she was doing three jobs.
Aleena was pregnant, and no one was there to support her emotionally and physically. She found it difficult but never gave up. Ultimately, Aleena thought of making a special type of the world’s first product for children. She worked day and night and made SwipeNsnap; the cream applicator.
Her intense urge to file a patent kept her going. At the start, she had neither money nor knowledge about the patent. She went to the patent office and asked the lady about the book. The lady suggested a book named “How to Patent It Yourself” to her. After five years, she was granted a US Utility Patent for the application “One-Hand Diaper Cream Applicator”.
Aleena presented the innovative product “SwipeNsnap” and it was a struggling project for her. She launched the SwipeNsnap after ten years on the Shark Tank and shared the ultimate benefits of using it. Furthermore, the discovery of a decade-old idea made her leave the corporate job in America. Then she moved back home with her mom.
SwipeNsnap is more than a diaper cream applicator as it saves over ten minutes per day. It is an anxiety relief and avoids mess. SwipeNsnap sticks atop any diaper and makes it convenient to apply with one hand. The sticky substance remains timeless; it doesn’t need to take the top off the cream and have one free hand.
Additionally, Aleena mentioned at the start of the journey she had $15k in sales but she was focused on the perfection of the product. Before coming into retaliation, she hoped for the slow sales. She does have a license in technology to design the adapter fit-sized bottle of diaper cream. Although, the sales were little but the technology made the Sharks focused.
Lori Greiner and recurring shark Daniel Lubetzky offered $120 for 33% equity with unity. Lori asked Aleena about verifying the patent of the adapter. Aleena convinced the Sharks and for a moment, Daniel yearned for 33% of SwineSnap and 100% of the licensed technology. However, Robert Herjavec wasn’t interested in the technology and was out.
Similarly, after Robert’s drop-out, Kevin decided to go back in. He teamed with Lori and offered $120k for a 50% stake, with stressing on the patent technology. Lori quit the deal with Daniel and accepted Kevin’s offer.
Thus, Aleena consented to Kevin and Lori’s deal and left the Shark Tank with a share of $120k for a 50% stake.
What Went Wrong with SwipeNsnap on Shark Tank?
Robert Herjavec was not interested in the technological aspects of the SwipeNsnap. He was out because he didn’t believe in the operationalization of the one-hand diaper cream applicator.
Product Availability
The products are officially available on the websites of SwipeNsnap. Furthermore, it is also accessible on the Amazon for the customers. SwipeNsnap is a universal tool kit, available in different sizes and shapes. The innovation is helpful for both the children and parents and is stress-free.
What Happened to The Company After Shark Tank?
Remarkably, after the deal of Kevin and Lori on $120k for 25% equity each, the company flourishes every year. In terms of the SwipeNsnap update, Lori and Kevin are supporting the company. Moreover, the company is in ultimate business and gives online services to the customers. It sells the one-hand diaper cream applicator product online.
According to the research, Aleena is patenting the technology. The license helps her to allow a thread to fix various sizes of bottles/tubes. In July 2004, the revenue of the company grew to $1 million.
Conclusion
Aleena Kravchenko pitched her novel idea of a one-hand diaper cream applicator on the Shark Tank. She came to the Shark Tank in a Godmother fairy appearance and sought $120k for 10% equity. Following the deal, Daniel showed an interest in Aleena’s technological discovery. He offered to team up with $120k in return for 33%. However, he wanted a 100% stake in the fit adapter patent. Meanwhile, Kevin came back and offered a 25% share to Lori. Both Lori and Kevin decided to make a deal with her. They asked $120k for 25% equity each.
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.
