Dude Wipes Net worth: During the Shark Tank seventh season, the Dude Wipes brand appeared on the fourth episode. Men’s wet wipes were the inspiration for this new product line. A group of friends from the Chicago area came up with the concept for the tank.
The idea came to them while they were still in college when they realized that there was no line of sanitary wipes targeted specifically at men’s needs. When Dude Wipes came along, the sharks were chomping at the bit to give the company behind it a deal. What happened to Dude Wipes in the end? Is the business still going strong?
|Company Name||Dude Wipes|
|Company Net Worth||$25 million (estimated)|
|Pitch||A line of sanitary wet wipes that are designed and marketed specifically for men|
|Entrepreneurs||Ryan Meegan, Sean Riley, Brain Wilkins, and Jeff Klimkowski|
|Asked For||$300,000 for 10% equity|
|Final Deal||$300,000 for 25% equity|
Dude Wipes History
Dude wipes? y’all gotta gender wipes to get men to wipe their… nvm pic.twitter.com/NGfRgj3SWT
— derecka (@dereckapurnell) September 14, 2020
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Developed in their Chicago, Illinois home in 2010, Dude Wipes was founded by childhood friends Sean Riley, Brian Wilkin, Ryan Meegan, and Jeff Klimkowski. Flushable baby wipes for men were first introduced in 2010 as an alternative to traditional baby wipes.
In 2012, the product was made available in retail stores and online for the first time. Kroger, Target, Meijer, Ralphs, and Bass Pro Shops are now carrying the product. Mark Cuban, the owner of the Dallas Mavericks, invested $300,000 in Dude Products in 2015 after they appeared on ABC’s reality television show Shark Tank, acquiring a 25 percent stake in the company. Dude Products was selected by Walmart as part of the retailer’s Made in the USA program, which aims to source $250 billion in US-made products by 2023.
At its inception, Dude Wipes aimed to provide men with one wipe that could be used for all of their “dude parts.” As a result, the concept has changed. Infused with aloe vera and vitamin E, the wipes were soft enough to use on even the most delicate parts of the body.
They were also biodegradable, so you wouldn’t have to worry about flushing them down the bathroom. As a result of this design, the wipes are said to be more long-lasting than normal baby wipes. As the name suggests, Dude Wipes are a disposable wipe product manufactured by a Chicago-based personal care company called Dude Products.
In 2013, the Vision 2013 Consumer Products Conference in San Jose, California, presented Dude Wipes with the 2013 Visionary Award. On the Shark Tank in 2012, Ryan, Sean, and Jeff presented Dude Wipes to the Sharks, despite the fact that the company had been founded by Ryan Meegan, Sean Riley, Brain Wilkins, and Jeff Klimkowski. Four friends from the Chicagoland area went on to earn degrees in a wide range of fields, including accounting, finance, industrial technology, and marketing.
Dude Wipes Net Worth
Although Mark Cuban was the first shark to back out of the deal, he was accused of miscalculating how much money would be needed for marketing. Kevin O’Leary is curious about the company’s sales to date, which is not surprising.
To date, they have sold $300,000 and have a distribution agreement with Kroger markets in the United States, the trio explains to the group. A lot of interest is shown by Robert and Kevin, but Lori and Barbara are put off by the “flimsiness” of the product. In the midst of Robert and Kevin’s negotiations, Mark jumps back into the tank with a $300,000 offer for 25% equity, which the Dude Wipe guys gladly accept.
According to information shared in a Shark Tank update from season 8, the Dude Wipes company made $3.2 million in its first year after signing a deal with Mark Cuban. Aside from that, Target and Walgreens have begun selling their products.
According to the co-founders, Dude Wipes’ gross revenue increased from $15.5 million in 2019 to $40 million in 2020, although Riley believes it should have been much higher. The two of them wondered aloud, “What are we doing with all of this other stuff?”
“The toilet paper business in the United States is about $10 billion,” says Ryan Meegan, co-founder, and chief marketing officer.
Because so many advertisers avoided pay-per-click ads in response to the pandemic in 2020, the Dude Wipes team was able to benefit from lowered digital advertising costs. Consequently, the Dude Wipes brand grew in popularity. This was a $1.2 million company. Nonetheless, the company’s value has increased by tens of millions in the last few years alone.
Shark Tank: Where Are Dude Wipes Today?
In 2015, a group of Dude Products creators appeared on ABC’s Shark Tank and received funding in exchange for a 25% stake from Dallas Mavericks owner Mark Cuban. This year, Dude Products can be purchased at Walmart locations across the United States.
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By 2023, Walmart plans to buy $250 billion worth of products made in the United States as part of a Made in America program. When UFC 174 rolled around, Dude Wipes gained notoriety on Twitter as the sponsor of a fighter who wore their trunks proudly.
When UFC fighter Justine Kish lost control of her bowels while being choked, Dude Products sponsored the event. In 2015, Dude Wipes appeared on an episode of Rob Dyrdek’s show, which he hosted. In Fox’s coverage of the 2016 World Series at Wrigley Field, there were numerous Dude Wipes signs.
Dude Products sent Arizona Diamondbacks pitcher Archie Bradley some Dude Wipes after conducting an interview with him. When Bradley shared the video on social media, Dude Products was overjoyed! Matt DiBenedetto and the 32 Go Fas Racing team were the first to be sponsored by Dude Wipes at Pocono Raceway, where the partnership began in July. They’ve never done this before.
Isaiah Crowell, a New York Jets running back, celebrated a touchdown by pretending to wipe his behind with the football. Crowell signed a deal with Dude Wipes in October of 2018. To date, DUDE can be found in more than 12,000 retail locations across the country including Kroger and Meijer; Jewel; Target; Safeway; Albertsons and Walmart; and Meijer.
Since June 2018, DUDE Wipes have been sold in 4,400 Walmart stores across the United States. In June of this year, a phased rollout began. If you hadn’t noticed, they’ve taken over the toilet paper aisles at some of your favorite stores. DUDE was selected as one of 150 companies to participate in Amazon’s launch of the Dash button. The DUDE Shower, DUDE Face Wipes, and DUDE Powder have become more popular since appearing on Shark Tank.