What Happened to Nightcaps After Shark Tank?
What are Nightcaps?
Nightcaps are a gadget that may be used to provide effective outdoor protection. It’s not your average hairband; it’s a unique design that can be wrapped around a glass to keep it from being poisoned or polluted.
Shirah Benarde, a 16-year-old West Palm Beach local, came up with the concept. Shirah, who was sixteen at the time, has heard several horror stories about alcohol spiking from her friends.
As a result, the solution to her problem arrived in her dream. The next day, she mended a pair of her mother’s pantyhose and tied them to a rope to make the prototype for her idea.
The drink cover is put on top of cups or glasses, leaving a hole for the insertion of a straw, preventing harmful substances from slipping into users’ beverages.
While the organization cannot ensure safety in all alcohol-related circumstances, the Nightcap remains an important security and deterrence tool.
Who is the man behind Nightcaps?
Shirah Benarde, a 16-year-old West Palm Beach local, came up with the idea. Shirah, who was sixteen at the time, has heard several horror stories about alcohol spiking from her friends.
As a result, the solution to her problem arrived in her dream. The next day, she mended a pair of her mother’s pantyhose and tied them to a rope to make the prototype for her idea.
When her older brother, Michael Benarde, came to visit, he saw the prototype and was immediately captivated with the idea. As a college student, he saw the essential importance of the circumstance and vowed to help his sister realize its full potential.
For the next six months, the siblings worked together. Their start-up was funded by prize money from Florida State Entrepreneur College contests, a $12,275 Indiegogo campaign, and $18,000 from their parents.
The couple launched their website in September 2019. Since then, they’ve sold over 10,000 units across the United States, in every state, and in more than a dozen countries, all through their website.
Nightcap is extremely popular among college students and their parents. It also draws customers from a variety of agencies, including police, counselors, and women’s empowerment organizations.
Shirah is in charge of product development and social media administration, while Michael handles distribution.
On their website, Nightcaps Scrunches are offered in a number of styles. A single Nightcaps costs $11.99, with quantity savings available, while a Nightcaps with a reusable straw package costs $15.99.
They are also available as a four-unit family pack for $39.99, as well as with extra straw kits for up to $51.99.
They may also be found on Amazon. Previously, these flexible and lightweight scrunches were only available in black.
What Happened to Nightcaps During Their Shark Tank Pitch?
Due to their youth and lack of formal marketing background, Michael and Shirah are learning social marketing and SEO organically, which has proved to be highly advantageous for their company development; nonetheless, they are wanting to partner with a Shark who can aid them in developing faster.
Shirah and Michael entered the Shark Tank seeking $60,000 in exchange for a 20% ownership in their firm, which was worth $300,000.
Shirah and Michael want to broaden their investing portfolio. For the time being, their parents have made an investment in the company; otherwise, all money has come via crowdsourcing and contests.
The Benarde brothers’ market research, product design, and patent work have satisfied the Sharks. They applied for and were awarded a utility patent for a beverage spiking device embedded in a wearable product.
Lori Greiner takes advantage of the opportunity to invest in Nightcaps before the other Sharks. She claims that she has never been more passionate about a social cause as she was during her time on Shark Tank. Lori then offers $60,000 in exchange for a 25% share in the company.
The surviving Sharks persuade Shirah and Michael to accept Lori’s offer, remarking that they had never seen Lori so enthusiastic about a product before. They quickly agree and strike a deal with Lori Greiner.
What Became to Nightcaps After Shark Tank?
Following the pitch, Michael, Shirah, and Lori completed the deal, with Lori supporting them with internet retailing.
Nightcap is still in operation in 2021. The company currently distributes worldwide via their website, nightcapit.com, accepts bulk/wholesale orders, and is accessible in-store at over fifty locations around the United States and Canada.
Nightcap’s website offers a store locator for those interested in shopping in-person, and bulk purchases may be customized.
Nightcap is excited to expand its reach and aid people in avoiding alcohol spiking. In September 2021, the company boosted its net revenues by 68 percent to $8.6 million.
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Nightcaps’ net worth
The firm was valued at $400,000 when they came to the shark tank but after the investment done by Lori the company’s worth was reduced to $240,000.
Nightcaps FAQs
Are there any issues that we should be aware of?
Nightcaps are not fail proof, and they cannot protect against adulteration or the addition of illegal substances. They do not eliminate the risk of one’s drink being spiked at all. At the end of the day, Nightcaps are just a small tool in a larger fight against alcohol-related crime and disorder.
How are the scrunches packaged?
The scrunches are generally packaged in a clear, resalable epoxy bag with a tagline reading, the scrunches may also be found in bulk packages, which contain four or twenty Nightcaps.
What size are the scrunches?
Nightcaps are made to fit most cups and glasses.
What material are the scrunches?
Nightcaps scrunches are made out of 95 percent nylon and 5 percent elastic fibers.
How do I wash and care for my Nightcap Scrunch?
Nightcaps are easy to clean, just throw them in the washing machine. They really only need to be hand-washed using a mild soap and warm water, however, they can also be thrown in a machine if they become really dirty or stained.
Where were the creators inspired to make this product?
Nightcaps were inspired by the idea of making something that could be used again and again, while being easily portable and recyclable.
What is Nightcaps made of?
The Nightcaps are made of 95 percent nylon and 5 percent elastic fibers.
What is Nightcaps return policy?
Nightcaps offer a 30 day return policy for all non-damaged products. All Nightcaps are covered under a 100% satisfaction guarantee.
Can I test out any of the Nightcaps before purchasing them?
Nightcaps have teamed up with the National Council on Alcoholism and Drug Dependence (NCADD) to offer pre-sale access to their product. Night caps have been tested by mental health professionals and others, individuals who have experience with alcohol addiction, drug use and recovery, abuse victims and crime victims.
Does Nightcaps work?
Nightcaps work by preventing the spiking of drinks. A Nightcap is a brightly colored, lightweight, and flexible scrunched that fits over most cups, bottles, and glasses. The bright colors act as a “visual warning” and make the drinker more aware of how much they have had to drink.
What does Nightcaps mean?
Nightcap is a device that when placed on top of a glass, cup or bottle will help to prevent it from being spiked with certain drugs.
