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SoapSox Net Worth 2023 Update (Before & After Shark Tank)

SoapSox

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)
ProfitsNot publicly available
Lifetime salesNot publicly available
InvestorNone
FounderRay Philips and Alvin Uy
EmployeesNot 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

Company nameSoapSox
ProductAnimal-shaped washcloths for kids
EpisodeSeason 6 Episode 03
Founders Ray Philips and Alvin Uy
Asked for$260,000 for 10% Equity
Final dealNone
Shark None
LocationPasadena, California

Don’t miss these product from Season 06

SoapSox Founders

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.

Key accomplishments

YearAccomplishment
2015SoapSox expands its product line to include new animal shapes and colors. The company also begins selling its products at Nordstrom.
2017Appeared on Shark Tank season 06
2020SoapSox pivots to produce face masks in response to the COVID-19 pandemic. The company also donates thousands of face masks to healthcare workers.

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 SoapSox and its continued success.

What do you think?

Written by GAG Team

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