In the 11th episode of Shark Tank season 16, we witnessed a much-anticipated success story of “Dude Wipes”. God, I love these success stories of small start-ups becoming major corporations. And, this time, it was Dude Wipes’ turn to flaunt their successes.
Key Highlights:
- Jeff Klimkowski, Ryan Meegan, and Sean Riley pitched in front of the sharks in season 7.
- Only Mark Cuban offered them a deal.
- Since then, Dude Wipes has done around half a billion dollars in sales.
The Background:
If I were to ask you; would you invest in a brand that focused on creating wipes and tissue rolls to clean up after you’re done in the washroom? You might be skeptical, right?
Well, this is exactly what most sharks thought at that time, and I wouldn’t totally agree that not investing in such a startup was their fault. I mean, how is one supposed to innovate the wiping experience?
But boy, Mark Cuban knew what he saw, and after an extensive questions and answers session, he finally made up his mind to invest in Dude Wipes.
Who Offered What?
Jeff Klimkowski, Ryan Meegan, and Sean Riley stepped in front of the sharks with an ask for $300,000 for a 10% stake in the company. Essentially, they valued the company at a whopping $3 million, which wasn’t easily digestible for most sharks.
However, the great Mark Cuban saw immense potential and made an offer of $300,000 for 25%, which the Dude Wipes investors accepted without a fuss. Though it may have seemed that losing an additional 15% wasn’t a good deal, look at them now!
| Aspect | Before the Pitch | After the Pitch |
| Investment Ask | $300,000 | $300,000 |
| Equity Offered | 10% | 25% |
| Valuation | $3 million | $1.2 million |
| Investor | None (before the pitch) | Mark Cuban |
How Good is the Product?
Well, you must know that Dude Wipe’s net worth was reduced in half with this deal. But, what you may not understand is that a great product will always make up for the losses. Even I, who didn’t regard this product much used it several times.
My gosh, a totally different (in a good way) of using wipes. Aromatic as they are and all wipes should be, these wipes make you feel fresh, for sure. Anyway, let me tell you a little more about the product:
- They’re eco-friendly – Made from plant-based fiber, Dude Wipes are flushable which ensures their safety for sewer and septic systems.
- They’re large – Yes, unlike wipes that don’t cover your area (you know what I mean), Dude Wipes are humongous and ensure thorough cleaning.
- The Ingredients – Besides the plant-based fiber, Dude Wipes also contains vitamin E and aloe vera for a gentle and smooth skin experience.
Well, these features may not be enough, so how about we compare them with major wipes-creating companies?
| Product Name | Size | Scent | Flush ability Certification | Price per Wipe |
| Dude Wipes | 8 x 6 inches | Unscented | Certified by WEF and IWSFG | $0.06 |
| Cottonelle FreshCare Flushable Wipes | 7 x 5 inches | Unscented | Tested by Cottonelle | $0.10 |
| Charmin Freshmates | 7 x 5 inches | Unscented | Tested by Charmin | $0.07 |
| Scott Flushable Wipes | 7 x 5 inches | Unscented | Tested by Scott | $0.08 |
How is Dude Wipes Doing Now?
To start off, Dude Wipes has over 200 people working for them, quite an achievement for a three-man team, isn’t it? And, since their pitch on Shark Tank season 7, they’ve enrolled their product in more than 40,000 retail stores across the country. Wow!
Dude Wipes is also the number one brand in the toilet paper category on Amazon and Walmart. And, last but not least, since their deal with Mark, Dude Wipes has amassed around half a billion dollars in sales. And, although Dude Wipes’ net worth is not disclosed anywhere now (which makes sense since they’re not a startup anymore), they have captured around 1% of the $11 billion toilet paper market share in the U.S.
Now, bring out your calculators and do the math!
Before I move on to the next stage, do you know Dude Wipes has signed a deal with the Sam’s Club? Sam’s Club has offered them around 590 stores to Dude Wipes to display their products in.
Dude Wipes Making the Waves and Change:
Enough with the financials, now, let’s focus on how Dude Wipes has been consistently making a change for society. Partnering with the Crohn’s and Colitis Foundation, Dude Wipes has donated over $250,000 in cash or in products. Well, if nothing, that is quite impressive for a start-up that was a bootstrap.
My Take on Dude Wipes:
There are very few startups that are as successful as Dude Wipes have gotten. Though I cannot and won’t even try to argue about their product, these guys and this company are solving a real issue. Not many people talk about it of course, and how could they? But, the point here is that someone really focused on this unheard problem and delivered us with an astonishing product.
Lastly, there’s another thing I want to appreciate about Dude Wipes, and especially Mark Cuban. It’s the productive role of AI – specifically Gemini that Dude Wipes has been using. How can anyone believe that most of their social posts, including copies are created with the help of Gemini?
In short, I believe Dude Wipes is on the right and brightest track, and they’re just starting!
