What Happened To Spatty After Shark Tank?
Facebook By Elise DeVoe/Updated: Jan. 5, 2023 10:29 am EST
We may receive a commission on purchases made from links. There are few things more frustrating than being able to see plenty of product left at the bottom of a bottle, whether it’s makeup or your favorite sauce, and not being able to get it out. You bang it on the counter or try to scrape it out with the bottom of the pump to no avail. If that product happens to be a $60 bottle of makeup, for example, you can potentially throw away $15 or more, and no one wants that. Entrepreneur Cheryl Rigdon was very familiar with this problem, especially with beauty products, and created the Spatty and the slightly larger Spatty Daddy to get the last bits of products out of their finicky containers (via Shark Tank Blog).
When Rigdon appeared on “Shark Tank,” the miniature spatulas were just prototypes, and she asked for $50,000 for 40% equity in the business. The entrepreneur explained that not only would this product save the consumer money, but it would reduce waste. Rigdon claimed that a study by Consumer Reports found that people throw away between 17% and 25% of products because they cannot get the last bit out of the packaging (via YouTube). The Sharks had mixed reactions to the product, but they all got a kick out of the name “Spatty Daddy.”
What the Sharks thought of Spatty
On “Shark Tank,” the investors often ask about product sales, so it’s a bit tougher for brand new companies like Spatty to get one of the Sharks to bite. Instead of funding a company that has already found some success, the $50,000 that Cheryl Rigdon was asking for would go toward production, since she was making the spatulas herself at that point (via Gazette Review). Even though Kevin O’Leary called the product “sheer gold,” he was out because he thought it was too high risk, and the other Sharks echoed his sentiment (via YouTube).
Although this product seemed like a slam dunk for the queen of QVC Lori Greiner, she explained that since the product only retailed for $2.99 and $3.99, it would not work out because online shoppers would pay more for shipping than the actual product. Rigdon did not walk away empty-handed, however, because Daymond John said he would help connect her to people in the beauty industry. According to Spatty’s website, this initial networking turned into a full-on mentorship with John, which has helped the company achieve the success it has today. That success has enabled Rigdon to pay it forward in an attempt to address another problem. The company website says that a portion of the company’s earnings goes toward increasing people’s access to clean water. But is Spatty bringing in big bucks?
What Happened To Spatty After Shark Tank?
By Elise DeVoe/Updated: Jan. 5, 2023 10:29 am EST
We may receive a commission on purchases made from links. There are few things more frustrating than being able to see plenty of product left at the bottom of a bottle, whether it’s makeup or your favorite sauce, and not being able to get it out. You bang it on the counter or try to scrape it out with the bottom of the pump to no avail. If that product happens to be a $60 bottle of makeup, for example, you can potentially throw away $15 or more, and no one wants that. Entrepreneur Cheryl Rigdon was very familiar with this problem, especially with beauty products, and created the Spatty and the slightly larger Spatty Daddy to get the last bits of products out of their finicky containers (via Shark Tank Blog).
When Rigdon appeared on “Shark Tank,” the miniature spatulas were just prototypes, and she asked for $50,000 for 40% equity in the business. The entrepreneur explained that not only would this product save the consumer money, but it would reduce waste. Rigdon claimed that a study by Consumer Reports found that people throw away between 17% and 25% of products because they cannot get the last bit out of the packaging (via YouTube). The Sharks had mixed reactions to the product, but they all got a kick out of the name “Spatty Daddy.”
We may receive a commission on purchases made from links.
When Rigdon appeared on “Shark Tank,” the miniature spatulas were just prototypes, and she asked for $50,000 for 40% equity in the business. The entrepreneur explained that not only would this product save the consumer money, but it would reduce waste. Rigdon claimed that a study by Consumer Reports found that people throw away between 17% and 25% of products because they cannot get the last bit out of the packaging (via YouTube). The Sharks had mixed reactions to the product, but they all got a kick out of the name “Spatty Daddy.”
What the Sharks thought of Spatty
On “Shark Tank,” the investors often ask about product sales, so it’s a bit tougher for brand new companies like Spatty to get one of the Sharks to bite. Instead of funding a company that has already found some success, the $50,000 that Cheryl Rigdon was asking for would go toward production, since she was making the spatulas herself at that point (via Gazette Review). Even though Kevin O’Leary called the product “sheer gold,” he was out because he thought it was too high risk, and the other Sharks echoed his sentiment (via YouTube).
Although this product seemed like a slam dunk for the queen of QVC Lori Greiner, she explained that since the product only retailed for $2.99 and $3.99, it would not work out because online shoppers would pay more for shipping than the actual product. Rigdon did not walk away empty-handed, however, because Daymond John said he would help connect her to people in the beauty industry. According to Spatty’s website, this initial networking turned into a full-on mentorship with John, which has helped the company achieve the success it has today. That success has enabled Rigdon to pay it forward in an attempt to address another problem. The company website says that a portion of the company’s earnings goes toward increasing people’s access to clean water. But is Spatty bringing in big bucks?
Although this product seemed like a slam dunk for the queen of QVC Lori Greiner, she explained that since the product only retailed for $2.99 and $3.99, it would not work out because online shoppers would pay more for shipping than the actual product. Rigdon did not walk away empty-handed, however, because Daymond John said he would help connect her to people in the beauty industry. According to Spatty’s website, this initial networking turned into a full-on mentorship with John, which has helped the company achieve the success it has today.
That success has enabled Rigdon to pay it forward in an attempt to address another problem. The company website says that a portion of the company’s earnings goes toward increasing people’s access to clean water. But is Spatty bringing in big bucks?
