What Happened To Nohbo After Shark Tank?
Nohbo is a material packaging startup company that develops single-use water-soluble products in pod form for packaging purposes. Founded by Viera High graduate Benjamin Stern in 2016, the company appeared on Shark Tank seeking $100,000 for 20% stake of his shampoo balls to reduce plastic bottle waste. Stern, an environmentalist by nature, was inspired to start his product after watching a documentary on plastic pollution when in ninth grade; starting his company when he was 16.
Nohbo was impressed by all four sharks who made offers; Lori Greiner liked Benjamin’s idea, but determined it’s too soon for her to invest; instead, she advised that Benjamin take his time building up his team before going into production. Kevin O’Leary thought investing was too early as well citing personal care industry journey. So ultimately he decided not to invest at this stage.
Robert Herjavec is interested in Nohbo, offering $100,000 for 20% equity and explaining that he can leverage his contacts and resources to expand it. Barbara Corcoran makes an offer of $100,000 for 25% equity while Mark Cuban sees something special in Ben and offers up $100,000 as compensation in return for 20% ownership – this capital could also provide accounting support, OEM manufacturing know-how as well as expertise that would otherwise not exist.
Nohbo relaunched in August 2018 with its liquid pods called Nohbo Drops, each containing 5 milliliters of shampoo, conditioner, body wash or shaving cream. When mixed with water they dissipate within three to four seconds as their biodegradable casing dissipates. Nohbo Drops can be reused up to 15 washes!
Nohbo has secured $3MM in seed funding through Material Impact’s partnership with Safer Made and Mark Cuban’s Radical Investments, with Safer Made joining as well. This funding will enable Nohbo to scale production up to 15 million units monthly as well as accelerate their creation of sustainable plastic-free beauty products.
Nohbo is an excellent example of an entrepreneurial company demonstrating what it means to think creatively and outside-of-the-box. Their company continues to innovate new products and expand distribution networks; likely leading them towards future success! We look forward to watching their progress!