“Browndages” got featured on Shark Tank USA in 2022 April. It was founded by Intisar Bashir and Rashid Mahdi. Browndages has a net worth of around 500,000 USD as of 2023.
Browndages net worth in 2023
Here is an update on Browndages’s net worth so far.
|Browndages’s Net worth before appearing on Shark Tank||1 Million USD (business valuation)|
|Browndages’s Current Net worth (2023)||500,000 USD|
What is Browndages?
What is the color of a typical bandage used to cover up a wound, scar, or some skin damage? Well with Browndages your answer will be ‘The Colour of My Skin’. Browndages is a skin tone bandage brand that provides Bandages, Pijamas, Bags Covers, etc.
All of these are available to buy on their official website and a selection of them are sold through Amazon. The Browndages have an average rating of 4.7 stars from 58 reviews on their website.
Who owns Browndages?
Married couple, Mrs. Intisar Bashir and Mr. Rashid Mahdi are the co-founders of Browndages. Browndages’s founders Intisar Bashir and Rashid Mahdi have a net worth of 105,000 USD as of 2023.
Also read: What happened to the oral care solution “Throat Scope” after shark
What happened at the Shark Tank?
The co-founders enter the shark tank offering 7.5% of equity for $75,000. Rashid has started presenting the importance of their product by showing the color mismatch of typical skin bandages on his skin.
After Rashid’s presentation, the judges examined the color-toned bandages. Then Mr. Wonderful and Daymond become curious about the reasons that limit large-scale organizations from providing the same product.
Discussion drives to sales stats. Intisar stated their sales boosted due to the ‘Black Lives Matter theme‘ and budget constraints they faced to gain inventory for consistent sales.
The problem that Browndages solves,
“Representation is about demanding that we’ve all seen and affirming that all lives matter.”
As per the stats, the monthly sales of the company are $7,500-$10,000. Rashid and Intisar get around $2.5-$3.3 from selling a single unit.
For Robert, the scale of the company is too massive. He says ‘I’m Out.
Lori invites Mark and Daymond and offers a collaborative offer to Rashid and Intisar, 30% equity for $100,000.
Lori, Mark, and Daymond offer: $100,000 for 30% equity and all three sharks agree to Rashid’s counter offer: 25% equity for $100,000 plus a credit line of 75 grand.
Mark Cuban, who owns the NBA Dallas Mavericks, even promised to have the Mavericks distribute and wear the bandages.
Here’s how the negotiations played out:
Browndages SHARK TANK UPDATE -What happened to Browndages After the Shark Tank?
According to CNBC, Browndages brought in $130,000 6 days after their episode aired on ABC.
The appearance of the shark tank benefits Browndages not only in financial terms. After the episode aired, Browndages Facebook page got hits and in 2023 Browndages Instagram had over 76,000 followers. The business has flooded with the community.
Intisar and Rashid have resigned from their full-time jobs. Now Intisar work on customer handling and Rashid manages and grows the business with the help of their family friends.
A globally known magazine, Vouge has given visibility to the Browndages company on its website and Twitter account.
Winning shark tank deals level up the online sales of products and hit a peak on social media platforms. One of the business’ noteworthy customers was the Hollywood star Lupita Nyong’o, who promoted the business on Twitter.
“Finally, a bandage that blends! Thank you, Browndages, for helping me conceal my clumsiness.”Hollywood star Lupita Nyong’o
Finally, a bandage that blends! Thank you, @browndages for helping me conceal my clumsiness!— Lupita Nyong'o (@Lupita_Nyongo) July 25, 2020
(Tip: wipe off your shea butter for the best stick.) pic.twitter.com/hQks1u6A09
The company has growing demand and the lovely couple is planning to expand their business out to other states in the US. Their products can now be found in over 39 locations in the USA.
The company hasn’t shared any recent sales figures; Browndages is worth an estimated $500,000.
If Mark Cuban can get the NBA Dallas Mavericks to wear and distribute the bandages, no doubt the company will continue to thrive…
Also, google official youtube channel released a song to support small business concepts like Browndages.
Competitors of the company?
Browndages is a super fresh idea but yet they have mild competition in the industry. Among competitors, Kennesaw, Natural Creations, Curltopia brands, and salon has a high market share.