Oogiebear Net Worth 2022 – Shark Tank Update

What Is Oogiebear?

Sina and Nina Farzin, originally from , launched the company in 2015. The idea came about when Nina found it challenging to keep their daughter Ariana’s nose clean when she was a toddler, especially during cold and flu season.

She was shocked, given her profession as a pharmacist, to find no organic or non-toxic solutions for helping her child maintain a clean nose and, thus, good breathing habits. Conveniently, Sina Farzin, Nina’s husband, is a medical practitioner who focuses on nasal, oral, and respiratory tract obstructions.

The couple from Maryland pooled their resources and devised a novel method for eliminating boogers. The two-sided instrument is designed to thoroughly clean kids’ nasal passages and alleviate related breathing problems. Their innovative design keeps the nasal passages germ-free and safely eliminates all boogers.

The Oogiebear is a portable tool for removing boogers from a baby’s nose. The sharks did not think this was an unusual dilemma to tackle.

The removal instrument stands out thanks to its vivid color and attractive design. The Oogiebear brand’s signature bear head at the end of each tool ups the adorable factor and prevents the tool from being inserted too far into a baby’s nose.

The Farzins’ three children’s respiratory distress was the seed that grew into a plan to aid other children’s breathing.

Oogiebear Net Worth and Overview

Company Name	Oogiebear
Owners	Sina Farzin Nina Farzin
Shark	Barbara Corcoran Robert Herjavec
Equity	10%
Investment	$600,000
Location	Maryland
Networth	±>$1 million

Shark Tank appearance: Did it go through?

Farzin went onto the tank seeking a $400,000 investment for only 5% equity. Let’s see what the sharks felt about this.

After an unexpectedly savage feeding frenzy, Farzin walked away with a $600,000 investment and a 10% equity agreement from Barbara Corcoran and Robert Herjavec ($300,000 each). She asked for $8 million but settled for $6 million; neither number is small. Farzin was a master negotiator and closed one of the highest deals on the tank.

When Nina told the sharks she had sold over a million copies, they were taken aback. In the current calendar year of 2022, the company has generated over $15 million in gross revenue and is on track to achieve a net profit of $1 million.

Kevin settled on an equity trade of $400,000 for 10% ownership. Daymond opted to leave the program because he didn’t feel he could contribute anything useful to the other business owners.

When pitching to the sharks, Sina and Nina were honest that online sales through their company’s website were a massive hole in their business model. The corporation relies heavily on retailers such as Walmart for their revenue. The Amazon marketplace accounted for over 76% of total business revenue.

Lori Greiner has proposed to invest $400,000 in exchange for 12% ownership. She hoped that Mark Cuban, another investor, would join the venture and put up half the capital. Barbara Corcoran also exhibited curiosity, so she offered to add to the pile: $400,000 in exchange for 10% ownership.

If the startups failed to meet specified goals, she offered them half of their shares back; Robert Herjavec supported Barbara’s suggestion, and the pair joined forces.

Sina and Nina were presented with multiple offers from the sharks. They decided to take Robert and Barbara up on their offer. The winning bid was $600,000 in exchange for 10% ownership.

Where is Oogiebear company today?

Oogiebear has widened its product range to include other baby care items. Teething toothbrushes, ear cleaners, aspirators, nasal balms, chest rubs, and more are available from the company. LED lights have been added to certain parental aids to make reading the instructions easier in low light. Oogiebear, according to Sina and Nina, has grossed nearly $15 million since 2015.

The partners said on air that business had increased to $5.4 million in revenue and $1 million in profit since the start of 2022.

Such impressive metrics undoubtedly helped the company get the attention of the Sharks. You may find Oogiebear goods on their website or at retailers like Target, Buy Buy Baby, Nordstrom, Walmart, and Amazon.

The prices for the other items are between $9.99 and $19.99, except for the basic Oogiebear booger picker, which will run you $12.99. Moreover, various kits, gift boxes, and bundles are available for up to $55.

Conclusion

They have just partnered with Barbara Corcoran and Robert Herjavec; thus, there is hope for the company’s quick expansion in the near future.

The company’s product sales will undoubtedly grow due to its recent appearance on Shark Tank.

We hope that the Oogiebear team has tremendous success in their future endeavors and send our best wishes.