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Read below to learn further about The Mad Optimist business, The Mad Optimist update the mad optimist net worth, and who cracked the deal that aligned with the offer presented.
Shark Tank is a stand-out reality show among the plethora of reality TV shows out there, having similar formats of being a game show a dating show or a fitness test show.
This business reality TV showcases different and innovative ideas of entrepreneurs, both young and old who are excited to put their ideas out there in the world with an expectation to get approval and clout for their business.
The panellists on the show in all international instalments never mince their words and provide valuable and encouraging yet realistic advice on how to develop their products and also the approach on how to sustain in the real market.
The following article is about one such product and presentation that made the panellists conflict within themselves for having varied opinions about the future benefits and profit of the business.
The Mad Optimist Key Highlights
- The Mad Optimist was founded by the Madhi Brothers and Anthony Duncan, aiming to provide customizable vegan skincare products.
- Their product range includes soaps, bath soaks, lip balms, and perfumes, all cruelty-free and made with essential oils and plant-based ingredients.
- After appearing on Shark Tank, The Mad Optimist’s revenue increased to $1 million annually, and they continue to offer unique, customer-oriented skincare products.
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What is The Mad Optimist?
The Mad Optimist was showcased on Season 11, Episode 24 of the Shark Tank US instalment. Founded by The Madhi Brothers and their friend, Duncan, The Mad Optimist is a soap company where the products can be customized as per the requirements and preferences of the customers.
Fun fact, the customer can even customize the price for each product that they buy or are about to buy.
Cruelty-free and vegan-based soap products were their initial production and as they gained a good response, they went on to produce and materialize bath soaks, lip balms, perfumes, etc using essential oils and plant-based items.
This essential and any kind-of-skin-type friendly product had the panellists in awe about the distinct and customer-oriented skincare products.
| Name | The Mad Optimist |
| Founders | Mohammed A. Mahdi, Mohammed M. Mahdi, and Anthony Duncan |
| Product | Custom soap, lip balm, and bath soak making studio |
| Features | All-natural, vegan, halal, gluten-free, non-GMO, cruelty-free, and customizable |
| Initial Funding | Received a grant of $100,000, along with $200,000 in benefits and a startup office |
| Shark Tank Appearance | Season 11 |
| Current Status | Still in business as of 2023 |
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Who Is The Founder Of The Mad Optimist?
The founders of The Mad Optimist are the Madhi Brothers and their friend, Anthony Duncan, who worked on creating all-vegan products with an aim to create a safe environment and a customer-friendly product enterprise.
The major point making The Mad Optimist have a competitive advantage over other skincare products, is that they are catering to each customer’s preference, as they could choose their own ingredients to be added to the product based on their skin type, the scents and the packaging ideas as well.
The price of each product is also based on customer preference and they can pay according to their will as low or high as possible.
The Mad Optimist offering for the investor?
The Mad Optimist pitched a deal of $60,000 for 10% equity of their business. They have made almost 97,000 dollars for the year with $21,000 being sales from customized sales products.
Their products are readily available and cured within a day’s time, which is quite different as soaps often take 30 days to be properly cured. The founders call this a ‘volcano method’ as the soap gets cured within 24 hours and is available for shipping immediately to customers.
The offer and the presentation were met with much welcome at first, but on learning about their sales and the period taken to achieve such sales value, the judges were quick to turn down the offer and the product catalogue.
Did The Mad Optimist get a deal on Shark Tank?
The Mad Optimist did crack a deal with Mark Cuban at last, while Kevin, Lori, Robert and Daniel were surprised that Mark agreed to compromise with the deal finally. The sharks were all quite surprised and disappointed based on the overall sales and lack of standard pricing for the products.
Mark made an offer in the end for $60,000 for 25% stating that if they ventured into micro-sites (catering only to a particular set of audience) and kept the same transparency, the product reach may improve. While the founders were sceptical at first, they agreed to it later after Mark brought down the equity to 20% for $60,000.
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How did The Mad Optimist start & how it did?
The Mad Optimist started with an aim to provide quality and plant-based products that are 100% vegan, 100% halal, gluten-free, and cruelty-free catering to all customers of varied preferences.
It is a distinct product and a preferable option for customers, as it sticks with what it has stated in its products’ ingredients, being less or no usage of chemicals, products sourced from farmers, and adhering to complete transparency & ethical practices.
It started with a goal to provide products that are supportive of the green environment and contribute to the betterment of society.
Started as The Soapy Soap Company, the three founders wanted to create products that are not made of animal fat, as they are followers of Islam and are vegans.
This drive made them work on using ingredients and chemicals that are natural, plant-based and not artificially induced.
What happened to The Mad Optimist Before Shark Tank?
Before Shark Tank company facts and figure
Before Shark Tank, the company had sales of $21,000 in customized products and a total sales of $97,000 in the past 5 years where they were working on improving their business and providing preferential treatment to customers.
The price range can also be fixed by customers using the sliding scale. They entered into Shark Tank with an offer of $60000 for 10% equity.
What happened to The Mad Optimist after Shark Tank?
After or recent Shark Tank company fact and figure
After Shark Tank, the Mad Optimist had an annual revenue of 1 million dollars. During the day of the shooting of the episode, it was the Shia Muslim Day of Ashura and so the founders donated all of the day’s sales to organisations fighting against social oppression. Mark Cuban agreed to offer $60000 for a 20% equity.
Why did The Mad Optimist go out of business?
The Mad Optimist hasn’t gone out of business. From the last update received, it is known the company is still doing business and has an annual revenue of 1 million dollars.
The scale model for pricing is the icing on the cake for customers who are not able to afford qualitative products as they are expensive.
Are there any products like The Mad Optimist in the market now?
No, there may be products similar to The Mad Optimist in creating cruelty-free, 100% vegan products like Plum. But not as customisable as the Mad Optimist.
The customization starts from choosing ingredients for the products, the colour of the product, the name of the product and also the packaging for the product.
The Mad Optimist update The Mad Optimist Net Worth Revealed
After the Shark Tank valuation
After Shark Tank, the Mad Optimist had been stated to bring in a total of 1 million dollars per year in terms of revenue, with a total net worth of 3 million dollars
Before Shark Tank valuation
Before the Shark Tank evaluation, the company has earned around $97000 in total sales and a total of 21000 dollars for customizable products.
FAQS about The Mad Optimist
What is The Mad Optimist?
The Mad Optimist is a customizable soap company featured on Season 11, Episode 24 of Shark Tank.
Who are the founders of The Mad Optimist?
The founders of The Mad Optimist are the Madhi Brothers and their friend, Anthony Duncan.
What products does The Mad Optimist offer?
The Mad Optimist offers vegan and cruelty-free skincare products, including soaps, bath soaks, lip balms, and perfumes.
Did The Mad Optimist get a deal on Shark Tank?
Yes, The Mad Optimist secured a deal with Mark Cuban on Shark Tank.
What is The Mad Optimist's current revenue?
The Mad Optimist has an annual revenue of $1 million after Shark Tank.
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