DrainWig Hasn’t Gone Down the Drain Since ‘Shark Tank’

What’s DrainWig’s net worth? We can get a hint from the product’s appearance in Season 9 of "Shark Tank," when Kevin O’Leary struck an equity deal.

Dan Clarendon - Author

May 7 2021, Published 3:31 p.m. ET

Shark Tank product DrainWig's net worth isn’t available online, but the company seems to be thriving since its appearance on the ABC show’s ninth season. It’s still a popular item on Amazon with thousands of positive reviews.

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Even if its current valuation isn’t publicly known, we can get a hint about DrainWig’s worth from Shark Tank investor Kevin O’Leary's equity offer. He offered $300,000 for 15 percent, which suggests that he thought the company was worth $2 million. 

Its inventors were seeking that same amount for 5 percent, which suggests that they thought the company was worth $6 million. Either way, the shower-drain hair-catcher is a valuable idea!

O’Leary went from DrainWig investor to pitchman—despite his bald pate!

Wife-and-husband team Jennifer and Gifford Briggs presented DrainWig on Shark Tank in Season 9, according to Business2Community. The inventors explained that DrainWig was available at Walmart and Bed Bath & Beyond. The product had racked up $14.2 million in sales, but they wanted help taking back control of the product since most of the profit was going to an informercial company.

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O’Leary and fellow Shark Tank star Daymond John chomped at the bit to invest in DrainWig. They both offering $300,000 for 20 percent of the company. When the entrepreneurs countered with a 15-percent stake, O’Leary snapped up the deal.

Weeks after the episode aired, O’Leary hyped up the product on Twitter as he shared throwback photos of his former mop-top. “Believe it or not, this head of hair has clogged a lot of drains in its glory days!” he wrote.

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A year later, O’Leary plugged the product again—pun intended—in a Facebook video with a joke about his baldness. “You know why I have no hair? Because I’ve been plugging up a lot of drains with what used to be there,” he said. “But that’s why I use DrainWig now.”

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The product has over 2,000 five-star ratings on Amazon.

Amazon reviewers seem smitten with DrainWig. Currently, the product has 2,099 five-star ratings and 400 five-star reviews on the online store. The average for all of the reviews is 4.3 stars.

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“Godsend for those of us with long hair,” one reviewer wrote. “This little thing catches so much hair that goes down the drain. It has saved me from ever having a clogged tub! I have been using this product for a few years now and haven’t had a single clog issue since. It’s gross when you pull it up, but cleaning out a clog is even grosser.”

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Other customers aren’t so happy, though. One customer gave a one-star review and wrote, “I have had these for just about three weeks and both broke. I bought two of them. Within two weeks, the first one broke, and the broken half fell into the drain and was unretrievable. The second one broke in week four. … The chain is not rustproof or waterproof in any way. The water running into the drain completely eroded the little chain. Don’t waste your money.”


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