Shark Tank Gently Soaps, a natural soap product founded by Kristen Dunning, entered Shark Tank USA in 2023 on Season 15. The founder was seeking $75,000 for 10% equity for their business. However, they secured a deal with Candace Nelson, $75,000 for 25% equity. In this article, we will explore Gently Soaps’s net worth in 2024, its Shark Tank pitch summary and more.
Gently Soaps Net Worth
As of March 2024, Gently Soaps’s estimated net worth is $1 million, and its estimated annual revenue was $66,000 in 2022.
| Net worth | $1 million *estimated |
| Annual Sales Revenue | $66K *estimated (In 2022) |
| Profits | $38,000 (In 2022) |
| Lifetime sales | $113,000 (As of 2023) |
| Employees | 2-10 employees |
Gently Soaps Net Worth Timeline
| Net Worth 2024 | $1 million |
| Net Worth 2023 | $300K (After appearing Shark Tank) |
Shark Tank Gently Soaps Update from Season 15
Entering Shark Tank, Kristen is seeking $75,000 for 10% equity valuing at $750K, sharing her story and business details. Starting in February 2021, sales reached $113,000 in 2023, with an impressive 78% repeat customer rate. In 2022, total sales were $66,000 with a $38,000 profit. Manufacturing and packaging cost $2.38, selling cost for $11. The customer acquisition cost is currently $5.83, and a box of 4 bars is $40.
Lori Greiner admires the product but she is developing a competing one like this, leading her to decline participation. Mark Cuban does not like the product, and he drops out. Daymond John follows the same way.
However, Kevin O’Leary is interested in offering $75,000 for 10% equity with a $1 royalty per bar sold. Once he recovers $500,000, the royalty reduces to $0.20 per bar. Kristen also did not accept that offer.
Candace Nelson proposed $75,000 for 30% equity, which Kristen countered with $75,000 for 15%, but Nelson declined that offer and prompted Kristen’s second counter for 20% equity, which also Nelson rejected. However, Kristen again offered another $75,000 for 25% equity, valued at $300K, and Nelson agreed to it.
| Company Name | Gently Soaps |
| Founder | Kristen Dunning |
| Business | A natural soap brand for sensitive skin |
| Episode | Season 15 Episode 01 |
| Asked Deal | $75,000 for 10% equity |
| Final Deal | $75,000 for 25% equity |
| Shark | Candace Nelson |
| Business Status | In Business |
| Company Website | Visit Website |
| Headquarter | Athens, Georgia, United States |
What Happened to Gently Soaps after Shark Tank?
As of March 2024, Gently Soaps is still in business. After the Shark Tank appearance, Gently Soap saw positive business outcomes, with increased brand recognition and a broader customer base. Kristen showcased the impact with an Instagram video displaying thousands of soap packages. By October 3, 2023, 500 orders had been shipped.
Within a week of the episode airing, the brand received 4000+ orders, amounting to $50,000. Kristen Dunning secured a $100,000 Aveeno grant on October 24, 2023, for her consistent participation in their Startup Collective Contest. You can purchase Gently Soaps and more through their website and Amazon.
Gently Soaps Founder
Kristen Dunning is the founder of Gently Soaps. The company started in 2020. Kristen is a multifaceted individual, serving as a business owner, agriculture researcher, and social activist. She holds Bachelor’s and Master’s Degrees from the University of Georgia. Kristen has achieved notable success in various Startup Competitions, securing $54,500.
She participated in the 2022 TiE Atlanta, 2022 Terry College of Business Student Startup Awards, and several others. Kristen Dunning’s net worth is unknown as of March 2024.
Gently Soaps Achievements and Awards
| Year | Achievements and Awards |
| 2022 | Gently Soap secures another victory, triumphing at the Collegiate Great Brands Competition. Kristen Dunning earns $25,000, marking her as the first UGA student to win this nationwide contest |
| 2023 | The company was featured on Shark Tank USA and got the deal from guest Shark Candace Nelson |
Conclusion
Shark Tank is a TV show showcasing different business ideas, helping them succeed. Gently Soaps was one of the ventures featured on the show. They made a deal with Candace Nelson, showing that success is possible with the right idea and execution. Now, we eagerly await to see how their success story unfolds in the future.
Before you leave, check out the other company updates in Season 15, Episode 01.
