What Happened to Sunscreenr After the Shark Tank Pitch?
What is Sunscreenr?
Sunscreenr is a one-of-a-kind camera that displays the amount of sunscreen a person is wearing. Simply switch it on and use the viewfinder to identify regions with insufficient coverage or missing points.
Covered skin looks black when viewed via the Sunscreenr camera, while unprotected skin appears bright.
Areas with some but insufficient sunscreen will have a tone that is in between dark and light.
It’s ideal for a day at the beach, at the park, on the golf course, or at a sporting event.
Sunscreenr enables users to see sunscreen coverage simply by looking through the device’s viewfinder. It is small, durable, and even waterproof.
Who is the Founder of Sunscreenr?
The Sunscreenr was created by David Cohen, the company’s founder, and CEO. Since receiving his Ph.D. in Biochemistry and Biophysics, David has dedicated his career to developing and producing specialized gadgets.
He has created equipment for a variety of industries, including security and medical. He is joined by co-founder Jon Meyer and a team of design-savvy innovators who have turned his idea into a product.
After experiencing first-hand the toll that skin cancer can have on loved ones, David was motivated to invent the Sunscreenr gadget.
He wanted to create something that would allow consumers to shield themselves and their children from the sun’s harmful rays.
He raised $119,629 through a Kickstarter campaign to get his concept off the ground. He subsequently launched an even more successful IndieGoGo campaign, garnering $165,405 on the platform.
He hasn’t yet shipped anything to backers, and he’s aiming for a December 2106 delivery date.
What Happened to Sunscreenr at the Shark Tank Pitch?
Dave appeared on Shark Tank season 8 episode 6 in pursuit of $800,000 in exchange for a 10% stake in the company. This amounts to an $8 million valuation.
He gives his pitch and shows a visual illustration of how it works.
Lori put it to the test, and it was clear where the sunscreen was and wasn’t. Daymond tried it as well.
Robert called to enquire about the progress of his Kickstarter campaign. Dave informed them that in five weeks, they had raised $93,000.
Kevin questioned about his goal. Dave told him the price was $45,000. When Robert asked when the completed product would be sent, Dave said it wouldn’t be until December of that year.
Daymond uttered a disgruntled sigh.
Dave started distributing prototype samples.
Kevin challenges Cohen’s $8 million valuation, which he attributes to his ability to sell 1200 apartments in 5 weeks.
Every year, this translates to $1 million in sales.
Kevin asked how much he would charge for it. Dave noted that the list price on Kickstarter was $109. Lori burst out laughing. Dave informed the Sharks that producing the least quantity costs $45 per unit.
Mark was curious how long a carefully placed coating of sunscreen would last on a typical beach day with his three children. If he wanted to be safe, Dave encouraged him to check in every 30 minutes.
Cohen believes that he has gotten interested from a few sunscreen companies.
Mark remarked that he thought Dave had sold himself so much on the value of it that he had lost perspective and self-awareness of how the business side of it should be run. Mark walked out of the home.
Robert stated that he did not anticipate people checking every 30 minutes, and he asked Dave to prove that claim before making it.
He claimed that his Ph.D. made him a respectable scientist, but he demonstrated a lack of common sense by bringing an $8 million valuation to the shark tank.
According to Robert, Dave lacks a PhD in client retention or sales. He aspired to a Ph.D. in anything other than self-promotion. Robert turned and went away.
Kevin is willing to provide $800,000 at a 33.3% discount.
Kevin was the second person to speak. He stated that he would offer Dave $800,000 in exchange for a 33 % ownership in the company.
He was aware of the risks of the business, but he also understood sunscreen’s inherent usefulness.
Daymond stated that the valuation was still way too high and that he would have to sell a kidney to become a stakeholder. Daymond turned and went away. Dave was unhappy, but he thanked Daymond.
Lori was the next person to step up. If David had entered the Shark Tank with a realistic value, she would have made him an instant offer.
Dave inquired about what constitutes a reasonable assessment. He’s curious in what she could believe makes sense in light of her experience.
Lori remained silent, instead asking that he give her a fair deal. Dave phoned her and requested $100,000 in exchange for a 20% stake in the firm.
Lori stated categorically that she would not accept a comparable offer. Kevin stated that he had gotten an offer.
Kevin stressed that he had offered $800,000 for a 33% share. Lori was asked if she intended to answer.
Lori appeared to be pondering, but she stated that she couldn’t come up with a convincing rationale for shoppers to purchase the things.
Lori turned and walked away. Instead, Dave asked Kevin if he would accept a 25% stake in the company. “No,” Kevin said. Dave agreed to participate as long as this was the only offer he would accept.
Kevin was intrigued by Dave’s intentions. Dave looked to pause for a while, took a deep breath, and then said that they had reached an agreement.
The two exchanged handshakes before hugging.
Daymond wished him the best of luck. Following his presentation, he met with the media and expressed a real desire to do business with a Shark.
What Happened to Sunscreenr After the Shark Tank Pitch?
Sunscreenr said in January 2017 that the Shark Tank deal with Kevin O’Leary has fallen through.
“As a result, we were obliged to supplement with our own personal resources and seek more investors,” Cohen writes on the Sunscreenr Kickstarter website.
As of June 2018, Sunscreenr’s website no longer accepts pre-orders. The company is not currently active on social media. The most recent Facebook post was made in September of this year.
Cohen’s LinkedIn page still lists him as the company’s founder, despite the fact that no units have been delivered to Kickstarter backers as of May 2021.
What is the Net Worth of Sunscreenr?
Dave comes on Shark Tank season 8 episode 6 in pursuit of $800,000 in exchange for a 10% interest in the company. This amounts to an $8 million valuation.
He accepted Kevin’s offer of $800,000 for a 33.3 percent interest, bringing the total price to $2.4 million.
Who are the Competitors of Sunscreenr?
Sunscreen alternatives and rivals include Vacation by Poolside FM, Hint Sunscreen, and Sundots.
Sunscreenr FAQS
Will the sunscreen be waterproof?
Sunscreenr states that it is Water-resistant, durable, ultra-portable, and simple to use.
What is Sunscreenr?
Sunscreenr is a one-of-a-kind camera that displays the amount of sunscreen a person is wearing. Simply switch it on and use the viewfinder to identify regions with insufficient coverage or missing points.
Who founded Sunscreenr?
Sunscreenr was founded by Mark Cohen.
How much was Mark Cohen seeking in the Tank?
Mark Cohen was seeking $800,000 in exchange for a 10 % interest in the company.
How much did Mark Cohen get?
He accepted Kevin’s offer of $800,000 for a 33.3% ownership stake, bringing the total price to $2.4 million.
What happened to Sunscreenr after the Shark Tank?
Sunscreenr said in January 2017 that the Shark Tank deal with Kevin O’Leary has fallen through.
Is Sunscreenr still in business?
Yes, Sunscreenr is back as of January 2022 with an active website.
Where is Mark Cohen now?
According to his LinkedIn page, Mark is still the CEO of Sunscreenr.
What is the Sunscreenr’s website?
Sunscreenr’s website can be found at www.sunscreenr.com
