Somnifix, Mouth Strips, was started by Nicholas Michalak in 2014. As of August 2023, Somnifix’s net worth is $3 Million and they’re pulling in a whopping $1.1 Million in annual revenue.
On April 21, 2019, they appeared on Season 10 of Shark Tank USA and made a deal with Mark Cuban, for $500,000 for 20% equity. The final valuation was $2.5 Million, down from the founder’s initial estimate of $5 Million.
Somnifix is still in business as of 2023. The company offers a solution to snoring by providing a mouth strip that promotes nose breathing during sleep. Products are on sale at the official website, Amazon, and Walmart.
Somnifix Net Worth
|Net worth||$3 Million|
|Annual Sales Revenue||1.1 Million|
|Shark Tank Investor||Mark Cuban|
Somnifix Net Worth Timeline
|Net Worth 2023||$3 Million|
|Net Worth 2022||$2.7 Million|
|Net Worth 2021||$2.5 Million|
|Net Worth 2020||$2 Million|
|Net worth valuation 2019 after appearing on Shark Tank||$2.5 Million|
|Net worth valuation 2019 before appearing on Shark Tank||$5 Million|
Somnifix Pitch on Shark Tank
|Episode||Season 10 Episode 20|
|Asked for||$500,000 for 10% equity|
|Final deal||$500,000 for 20% equity|
|Location||Chevy Chase, Maryland|
Somnifix was founded by Nicholas Michalak in 2014. This company offers a solution to snoring by providing a mouth strip that promotes nose breathing during sleep. Somnifix’s founder, Nicholas Michalak has a net worth of USD 3 Million as of 2023.
|2019||Appearing on Shark Tank in 2019 and receiving a deal from Mark Cuban|
|2014||Creating a solution to snoring by providing a mouth strip that promotes nose breathing during sleep.|
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 Spretz and its continued success.