DrainWig-Shark-Tank-US-Net-worth-Update

DrainWig, a hair trap for showers, was started by Jennifer and Gifford Briggs in 2012. As of September 2023, DrainWig’s net worth is $2.5 million, and they’re pulling in a whopping $1 million in annual revenue. 

In October 2017, they appeared on Season 09 of Shark Tank USA and made a deal with Kevin O’Leary, $300,000 for 15% equity. The final valuation was $2 million, down from the founder’s initial estimate of $6 million.

As of September 2023 DrainWig is still in business. You can purchase DrainWig products online through their ecommerce channels such as their website and Amazon.

DrainWig Net Worth

Net worth$2.5 million
Annual Sales Revenue$1 million
Profits
Lifetime Sales$14.2 million
Shark Tank InvestorKevin O’Leary
FounderJennifer and Gifford Briggs
Employees1 to 25 employees

DrainWig Net Worth Timeline

Net Worth 2023$2.5 million
Net Worth 2022$1 million
Net Worth 2021$1 million
Net worth valuation 2017 after appearing on Shark Tank  $2 million
Net worth valuation 2017 before appearing on Shark Tank  $6 million

DrainWig Pitch on Shark Tank

Company nameDrainWig
ProductHair-catching drain plug
EpisodeSeason 09 Episode 06
Founders Jennifer and Gifford Briggs
Asked for$300,000 for 5% equity
Final deal$300,000 for 15% equity
Shark Kevin O’Leary
LocationUtah, USA

DrainWig Founders

DrainWig was founded by Jennifer and Gifford Briggs in 2012. Jennifer and Gifford Briggs, a couple from Utah with five daughters, devised the idea for DrainWig. They got inspired from dealing with clogged drains caused by their long hair in the showers and bathroom sinks at home. This led to the creation of DrainWig. DrainWig’s founders, Jennifer and Gifford Briggs, have a net worth of 1 million USD as of 2023.

Key accomplishments

YearAccomplishment
2017The company appeared in Shark Tank Season 09 and got a deal from Kevin O’Leary
2023As of September 2023, the company is still in business with $1 million in revenue

Conclusion

From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for DrainWig and its continued success.

Similar Posts