Wesley Laporte and Dan Barnes hope to clean up in the Shark Tank with PhoneSoap, their combination phone charger and UV light sanitizer for smart phones. They came up with the idea when they realized smart phones were a haven for bacteria. Typical phones have staph, E. Coli, and MRSA bacteria growing on them; one in six has fecal matter! The heat phones generate provide the perfect breeding ground for all sorts of nasty germs and bacteria.
The level of disgust led the pair to invent Phone Soap, a mini tanning bed for your phone. Each PhoneSoap charger has a USB port for charger cables and two UV lights housed in a reflective interior that literally bake away germs. UV light has been used in industrial sanitization for years – PhoneSoap brings it to a table top-level. In addition to the UV sanitizer, PhoneSoap sells polish, cleaning cloths, even an ionic silver antimicrobial case.
Like many other Shark Tank businesses, PhoneSoap got its start on Kickstarter. The project raised $63,478 (on an $18,000 ask) back in May, 2012. Since then, scientists proved PhoneSoap’s effectiveness. The product is only available online, but Wesley and Dan likely want a Shark’s help with broad retail distribution.
Will a Shark invest in PhoneSoap and clean up?
PhoneSoap Shark Tank Recap
Wesley and Dan enter seeking $300K for 7.5%. They tell the Sharks a typical cell phone is 18 times filthier than any public bathroom surface. The Sharks are suitably disgusted. They hand out samples. Mark wants to know why alcohol won’t work, they explain it could damage the phone.
They’ve done over half a million dollars in sales in a year and they’re in 40 Staples. They have 2 utility patents. Robert thinks the average consumer is too lazy to use this. Kevin thinks they’ve found an anal market niche. The guys already raised $800K for 16%.
Mark thinks marketing will be expensive unless they get a huge PR pop. Wesley and Dan say they are getting interest from hospitals and schools. Robert says he doesn’t need a tanning bed for his phone; he’s out. Mark likes the hospital angle; if you can clean the phone quickly, it will sell. Barbara thinks it’s too bulky – she’s out.
Kevin offers $300K with a $6 royalty until he recoups his money, the $3 per unit until he recoups $1.2 million. The guys don’t like the offer and Kevin goes out. Mark thinks commercial sales to health care providers is where it’s at, he offers $300K for 30% if they can get the phone to sanitize in a minute.
Lori has sold tons of phone cases; she jumps in and offers $300K for 15%. She wants to take it to QVC, Mark thinks with commercial sales, you can charge a premium. Mark and Lori argue about who’s the best fit. The guys want a better valuation and Lori says she’ll go to 10% if they say yes right away. The guys say yes!
RESULT: DEAL with Lori for $300K for 10%
PhoneSoap Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. PhoneSoap gets an update segment in season seven’s episode 729. In the update, we see how sales have soared since doing the deal with Lori. They also added air purifiers to their line.
The company remains in business as of December, 2022, and has annual revenue of $13.5 million.
In October, 2023, the company was the 13th largest Shark Tank company in sales with lifetime sales of $187 million.
Posts About PhoneSoap on Shark Tank Blog
PhoneSoap Company Information
Video
Why doesn’t phonesoap market this (assuming same technology) to those of us that travel and hate touching the TV remote?
Was it because of the pandemic that so many people now are more aware of the potentially harmful germs in our every day lives?
Lori, At PhoneSoap I ordered two units one with a cord one without. The first one with the paid for cord didn’t attach to anything and the unit was smashed broken. The second one wasn’t broken but the power cord still doesn’t attach to anything.