Highlights
- Danielle Stangler and Julia Rossi pitch NeatCheeks, their sweet-flavored face wipes for children, seeking $150,000 for 20% equity on Shark Tank.
- After some negotiation, the entrepreneurs secure a deal with Barbara Corcoran for $150,000 in exchange for 25% equity, although the deal ultimately did not close.
- NeatCheeks has continued to grow, achieving $1 million in annual revenue by October 2022, with products available on Amazon and in various retail stores.
Overview
| Category | Details |
|---|---|
| Name | NeatCheeks |
| Founders | Danielle Stangler and Julia Rossi |
| Industry | Baby Products |
| Product | Sweet-flavored face wipes made with Stevia, a natural sweetener, for gentle and tasty cleaning |
| Funding | Seeking $150,000 |
| Investment Ask | $150,000 |
| Equity Offered | 20% |
| Valuation | $750,000 |
“Momtrepreneurs” Danielle Stangler and Julia Rossi hope to clean up the Shark Tank when they pitch NeatCheeks, their patented, sweet-flavored face wipes, in episode 627. Danielle stumbled on the idea when she asked her husband to dip a napkin in his drink to wipe off their then 18 month-old daughter’s face. Instead of getting a fuss from the little one, the child said “nummy nummy!” It turns out, the napkin was dipped in lemonade.
Inspired by the idea for a sweet face wipe (standard face wipes smell “chemically”), she asked Julie to join her and help develop the product and run the business. The sweetener in NeatCheeks is Stevia, a natural sweetener that’s gentle on skin. The combination of a sweet taste and a safe, gentle skin conditioner make NeatCheeks the only baby wipe of its kind.
NeatCheeks cost four bucks per pack of 12 and can be purchased on Amazon, in several dozen mom and pop baby stores nationwide, and Colorado area Walgreens. They’re made in the USA in a solar-powered facility, so it’s a very green business.
Danielle and Julie likely want a Shark to help accelerate distribution and infuse the business with some working capital. Will the Neat Cheeks moms get the Sharks to come clean and invest?
NeatCheeks Shark Tank Recap
Danielle and Julia enter seeking $150K for 20% of the business. They explain the product and hand out samples. The sharks are amused by the videos of kids enjoying the taste of the wipes. They explain theyy are in a 90 day test in Walgreens that was successful.
Lori wants to know if they can get the cost of production down from $0.72 to $0.53. They’ve only done $4K in sales though. Kevin thinks competitors will knock them off, since the patent is still pending – he’s out. Mark thinks it’s too early – he’s out. They want to pay themselves $50K each with the money; Robert hates that, so he’s out.
Barbara thinks the ladies should get a job while working the business – she did it. Lori offers $150K for 30% contingent on the patent being issued. Barbara offers $150K for 25% contingent on making a cherry flavor. Lori switches to $150K for 25% and pulls the contingency on the patent. Barbara argues that her group of entrepreneurs is like a happy family; Lori says her group is similar while Kevin sings Kumbaya!
The ladies decide to go with Barbara!
RESULT: DEAL with Barbara for $150K for 25%
NeatCheeks Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Barbara never closed and the company is not listed on her website. The women managed to get on the shelves at Buy Buy Baby, Babies ‘R’ Us, Walgreens and other stores. Julia left the company in June, 2017. Neat Cheeks participated in the September 2019 Seed Cohort at the New Chip Accelerator program. As of October, 2022, annual revenue is $1 million. The products are available on Amazon.
Posts About NeatCheeks on Shark Tank Blog
NeatCheeks Company Information
Video
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