SoapSox, Animal-shaped washcloths for kids, was started by Ray Philips and Alvin Uy in 2012. As of October 2023, SoapSox net worth is $2.5 million and they’re pulling in a whopping $8 million in annual revenue.
In 2014 they appeared on season 6 of Shark Tank USA seeking $260,000 for 10% of equity valuing the company at $2.6 million. But the Sharks were not interested in investing in SoapSox due to high valuation and insufficient market competition.
SoapSox is still in business as of October 2023. The company has been growing steadily since its appearance on Shark Tank in 2014, and it now has an estimated annual revenue of $8 million. SoapSox products are available at a variety of retailers, including Nordstrom, Amazon, and Target. To know more visit their official website.
SoapSox Net Worth
|Net worth||$2.5 million (2023)|
|Annual Sales Revenue||$8 million (2023)|
|Profits||Not publicly available|
|Lifetime sales||Not publicly available|
|Founder||Ray Philips and Alvin Uy|
|Employees||Not publicly available|
SoapSox Net Worth Timeline
|Net Worth 2023||$2.5 million|
|Net Worth 2022||$2.5 million|
|Net worth valuation 2014 after appearing on Shark Tank||$2.5 million|
|Net worth valuation [Shark Tank appeared Year] before appearing on Shark Tank||$2.6 million|
SoapSox Pitch on Shark Tank
|Product||Animal-shaped washcloths for kids|
|Episode||Season 6 Episode 03|
|Founders||Ray Philips and Alvin Uy|
|Asked for||$260,000 for 10% Equity|
SoapSox was founded by Ray Philips and Alvin Uy in 2012. SoapSox’s founders, Ray Philips and Alvin Uy, have a net worth of $2.5 million as of 2023.
|2015||SoapSox expands its product line to include new animal shapes and colors. The company also begins selling its products at Nordstrom.|
|2017||Appeared on Shark Tank season 06|
|2020||SoapSox pivots to produce face masks in response to the COVID-19 pandemic. The company also donates thousands of face masks to healthcare workers.|
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 SoapSox and its continued success.