DrainWig
Dealhair catcher for shower drains
DrainWig is a hair catcher for shower drains that got its big break on Shark Tank in Season 9, and convinced Kevin O'Leary to invest.
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From the show
The Shark Tank pitch
- $300K
- Asked for
- 5%
- Offered equity
- $6M
- Sought valuation
- $300K
- Deal amount
- 15%
- Deal equity
- $2M
- Deal valuation
The team stepped onto the carpet in Season 9, Episode 6 in the episode that aired October 29, 2017. DrainWig, the hair catcher for shower drains, pitched in the Home & Lifestyle category, one of 260 home & lifestyle businesses to brave the Tank across all 17 seasons.
The ask was $300,000 for 5% of the company, an implied valuation of $6M.
Kevin O'Leary made the deal at $300,000 for 15% equity. That priced the company at $2M, a haircut from the $6M the founders walked in asking for, which is how negotiations in the Tank usually go.
Season 9 saw 96 pitches, and 65 of them closed a deal on air. In the Home & Lifestyle category overall, roughly 68% of pitches have landed a shark across the show's history.
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Frequently asked questions
Where can I buy DrainWig?
Check current price and availability on Amazon. Note that some Shark Tank products are discontinued or sold under a new name.
Did DrainWig get a deal on Shark Tank?
Yes. DrainWig closed a deal for $300,000 in exchange for 15% equity, with Kevin O'Leary.
Which shark invested in DrainWig?
Kevin O'Leary invested in DrainWig ($300,000 total as aired).
What season of Shark Tank was DrainWig on?
DrainWig appeared in Season 9, Episode 6, which aired October 29, 2017.
How much was DrainWig asking for on Shark Tank?
The founders asked for $300,000 for 5% of the company, a $6M valuation.
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