A breakout blemish on Devir Kahan’s wedding day didn’t just mar photos, it ignited a bold push in men’s cosmetics. Partnering with YouTube content creator Jon Shanahan, Kahan co-founded Stryx, a men’s cosmetics brand dedicated to breaking the stigma around guys using concealer, moisturizers, and skincare tools.
When they stepped onto the Shark Tank stage in 2022, they weren’t just pitching products, they were redefining masculinity in beauty.
They left with a handshake deal, but behind the scenes, it fell apart. So how did Stryx turn a TV moment into a headline acquisition, and what is its net worth in 2025?
Stryx Net Worth in 2025: How Much Is It Really Worth?
Estimated Net Worth (2025): $9 million–$12 million
As a privately held company, Stryx’s exact valuation is undisclosed. However, based on reported revenue, retail expansion, its acquisition by Foundry Brands, and standard industry multiples, its estimated net worth in 2025 ranges between $9 million and $12 million.
How This Estimate Was Calculated
- Annual Revenue Estimate:
- Monthly Revenue (2022): ~$130,000 (per Shark Tank pitch)
- Annualized: $130,000 x 12 = $1.56 million
- Note: Recent revenue data (2023–2024) is unavailable, so this assumes stable sales, which may not reflect actual performance.
- Gross Margin: ~85% (confirmed by founders on Shark Tank), typical for premium DTC cosmetics.
- Profitability: Stryx reported a $40,000–$50,000 monthly burn rate in 2022, indicating losses. No public data confirms profitability by 2025, so valuation relies on revenue and acquisition-driven growth rather than earnings.
- Valuation Multiples Used:
- Revenue Multiple: 6x–8x $1.56M = $9.36M–$12.48M
- Multiples reflect Foundry Brands’ acquisition strategy for high-margin DTC brands with $1M–$5M revenue.
- Conclusion: The $9M–$12M estimate accounts for Stryx’s revenue, 85% gross margin, retail presence (Target, Urban Outfitters), and acquisition by Foundry Brands. However, without recent financials, this range is speculative and assumes sustained revenue and market growth.
Key Financial Metrics
| Metric | Value |
|---|---|
| Monthly Revenue (2022) | ~$130,000 |
| Gross Margin | ~85% |
| Annual Profit (2025) | Unconfirmed |
| Shark Tank Valuation (2022) | $12 million |
| Funding Raised (All Time) | ~$1.7 million (verified) |
| Burn Rate (2022) | ~$40K–$50K/month |
| 2025 Estimated Net Worth | $9M–$12M |
Best-Selling Products
- Concealer Tool: A discreet pen that covers blemishes and razor bumps.
- Pimple Patches: Invisible, fast-acting acne patches.
- Energizing Eye Tool: Brightens and reduces puffiness.
- Tinted Moisturizer: Hydrates, conceals redness, and soothes breakouts.
The Shark Tank Deal That Disappeared
Stryx appeared on Shark Tank Season 13, Episode 23 (May 2022), asking for $600,000 for 5% equity, implying a $12 million valuation. Robert Herjavec offered $600,000 for 10% ($6M valuation), which the founders accepted on air.
Post-filming, the deal collapsed during due diligence, a common outcome for Shark Tank agreements. While no official reason was disclosed, such fallouts often stem from financial discrepancies or strategic misalignments.
Stryx’s Success Without a Shark
Undeterred, Stryx capitalized on the Shark Tank exposure. They prepared for a demand surge with ample inventory and launched a “Shark Tank Kit” featuring their best-sellers. Their social media strategy, particularly on TikTok, drove significant engagement, with educational grooming content resonating with skincare-conscious men.
While exact follower counts are unconfirmed, Stryx’s TikTok presence has been a key growth driver, alongside nearly 160,000 Instagram followers.
Retail expansion bolstered their success. Stryx secured shelf space at Target stores nationwide and expanded online through Amazon, Urban Outfitters, and their DTC site, building on earlier CVS partnerships.
RELATED: Things You Should Know About Shark Tank that every entrepreneur’s dream TV show
Inside the Foundry Brands Acquisition
On April 1, 2023, Foundry Brands, a consumer goods platform specializing in scaling online-first grooming companies, acquired Stryx. Though acquisition terms remain undisclosed, Foundry’s criteria align with Stryx’s profile:
- Annual revenue: $1M–$5M
- Strong DTC presence (90% of Stryx sales)
- Distinct brand identity
Foundry’s portfolio, including Supply (razors) and Blu Atlas, targets a similar male grooming demographic. Stryx’s 85% gross margin and social media traction likely justified a 6x–8x revenue multiple, supporting the $9M–$12M valuation estimate.
Who Built Stryx?
- Jon Shanahan – Co-Founder & CMO
A Pittsburgh-based YouTuber (The Kavalier), Shanahan’s digital marketing expertise fueled Stryx’s viral growth. Post-acquisition, he became VP of Marketing at TRX Training. - Devir Kahan – Co-Founder & CEO
Inspired by his wedding day breakout, Kahan built Stryx from the ground up, earning a Forbes 30 Under 30 spot in 2022. He now co-founded Credistry, a B2B finance startup.
Their complementary skills Shanahan’s digital reach and Kahan’s product vision positioned Stryx as a pioneer in men’s cosmetics.
Was the $12 Million Valuation Justified?
The $12M Shark Tank valuation raised eyebrows for a company with $130K monthly revenue and a $40K–$50K monthly burn rate. However, several factors supported it:
- High Gross Margin: 85%, reflecting strong unit economics.
- Cultural Mission: Normalizing men’s makeup in an untapped market.
- Brand Equity: Viral social media and media coverage (The Wall Street Journal) added intangible value.
Still, competitors like War Paint and evolving gender-neutral cosmetics (e.g., MAC, Fenty) challenged Stryx’s niche. The valuation reflected optimism about future growth, which the Foundry acquisition later validated.
📊 If you were a Shark, would you have invested in Stryx at a $12M valuation?
What’s Next for Stryx?
Under Foundry’s stewardship, Stryx is poised for growth, focusing on:
- New Products: Recent launches include SPF moisturizers and bronzing gel, with potential for beard care based on market trends.
- International Expansion: Stryx is testing markets in Europe and Asia, where men’s cosmetics are more mainstream.
- Retail Growth: Further expansion in major retailers is likely, building on Target and Urban Outfitters partnerships.
Though Kahan and Shanahan have moved on, Stryx’s vision to empower skincare-conscious men endures, backed by Foundry’s scaling expertise.
TL;DR
Stryx’s net worth in 2025 is estimated at $9M–$12M. Despite a failed Shark Tank deal, viral marketing, DTC success, and retail growth led to its acquisition by Foundry Brands.
FAQs
Is Stryx still in business in 2025?
Yes, Stryx is still active and thriving. It was acquired by Foundry Brands and continues to sell both online and in Target stores nationwide.
What happened to Stryx’s Shark Tank deal?
Although Robert Herjavec offered $600,000 for 10% equity during the show, the deal did not close after filming due to post-show negotiations falling through.
How much is Stryx worth now?
Stryx’s estimated net worth in 2025 is between $10 million and $12 million, based on public revenue estimates, profit margins, and acquisition valuation models.
Who owns Stryx now?
As of 2023, Stryx is owned by Foundry Brands, a platform that specializes in acquiring and scaling high-potential DTC grooming and skincare companies.
Are Stryx products only for men?
No, while Stryx products are formulated with men’s skincare needs in mind, they are suitable for anyone looking for effective, discreet skincare solutions.
Where can I buy Stryx products?
Stryx products are available through their official website, Target stores across the U.S., Amazon, and select retailers like Urban Outfitters.
