What Is The Net Worth of Calm Strips? Latest Updates and More

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Introduction

In the fast-paced world of today, where stress and anxiety are prevalent, Calm Strips emerges as a beacon of relief. Created by Michael Malkin in 2020, this sensory adhesive product aims to alleviate anxiety and stress through textured sensations, providing users with a unique and effective solution for everyday challenges.

Calm Strips: A Sensory Breakthrough for Anxiety Relief

Calm Strips represent a groundbreaking approach to stress management. Shaped into different textures, these adhesive strips offer sensory stimulation, providing energy while simultaneously reducing stress. The textured design allows users to experience different touches and feels, creating a calming effect that has proven beneficial for individuals dealing with anxiety.

Michael Malkin’s Journey: From Social Anxiety to Innovative Solution

The inception of Calm Strips is deeply rooted in Michael Malkin’s personal struggle with social anxiety. Faced with the challenges of anxiety, Michael found solace in drumming with his hands. This unique coping mechanism caught the attention of those around him, leading friends to suggest alternative sensory methods involving painter’s tape. However, the sticky residue left by the tape inspired Michael to develop a more effective and user-friendly solution, giving birth to Calm Strips.

Shark Tank Pitch: Seeking Support for Sensory Innovation

In a bid to propel it to greater heights, Michael Malkin and Luce Fuller entered the Shark Tank during Season 13, Episode 13. Their ask: $250,000 for 10% equity, valuing the company at $2.5 million. The Sharks were presented with a product designed to address the pervasive issue of anxiety through sensory engagement.

Calm Strips Unveiled: Sensory Adhesive for Anxiety and Stress

Calm Strips, at their core, are textured sensory adhesives crafted to reduce anxiety and stress. The strips come in various textures, including soft sand and river rocks, offering a gentle touch on the skin. Designed with a funky aesthetic, these sensory stickers can be adhered to phones, rings, laptops, tiffin boxes, and more. The product also offers a customizable option for users to design their own Calm Strips.

Calm Breathing Sticker: A Colorful Visual Design

Adding to the product line, Calm Strips introduced the Calm Breathing Sticker, featuring a colorful visual design. This new addition enhances the sensory experience, providing users with a visual element to complement the tactile sensations offered by the original Calm Strips.

Pricing and Customization: Tailoring Anxiety Relief

These are available for purchase in bulk packs, with prices ranging from $24.99 to $39.99. The customizable option allows customers to design their own Calm Strips, ensuring a personalized touch to their anxiety-relief journey.

Founder Background: Michael Malkin and Luce Fuller

The co-founders of Calm Strips, Michael Malkin and Luce Fuller, bring a wealth of experience, particularly in the tech industry. Both have worked at Apple Stores, with Michael transitioning from a managerial role in Dell and Apple Stores to becoming an English teacher. Luce Fuller serves as the administrative director and co-owner of the company.

Shark Tank Dynamics: A Blend of Rejection and Success

While the Sharks had mixed reactions to them, with Daymond John expressing confusion, the product garnered attention for its unique approach to anxiety relief. Despite initial skepticism, Calm Strips received praise for its zero return rate and impressive sales figures.

Shark Offers and Decision: Robert Herjavec Seals the Deal

In the end, Robert Herjavec made an offer of $250,000 for 35% equity. Although this differed from the initial ask, it marked a successful deal for Calm Strips, aligning the company with a Shark who saw potential in the business.

Post Shark Tank Success: Expanding Horizons

Following the Shark Tank episode’s success, they experienced an immediate surge in sales. The product gained visibility through appearances at the Norfolk Tides Baseball Stadium and the Dallas Market Center trade show. The brand continued to thrive, showcasing the ongoing demand for innovative anxiety-relief solutions.

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What Is The Calm Strips Net Worth?

calm strips net worth
calm strips net worth

In the Shark Tank pitch, Calm Strips were valued at $2.5 million. Robert Herjavec’s investment came in the form of a royalty deal without equity. Despite initial concerns raised by the Sharks about shipping costs and product margins, Calm Strips has demonstrated resilience and profitability.

Current Status: Calm Strips in 2023

As of August 2023, they remains a thriving business. The Similaweb data indicates consistent website traffic, with over 100,000 monthly visits. The product has found its way into the daily lives of users seeking anxiety relief, and the company continues to explore avenues for growth and expansion.

In conclusion, Calm Strips has not only offered a unique solution for anxiety relief but has also navigated the challenges of entrepreneurship successfully. Michael Malkin’s journey from personal struggle to innovative creation is a testament to the impact that thoughtful and purpose-driven products can have on individuals facing mental health challenges. As Calm Strips continues to evolve, it stands as a beacon of hope for those seeking effective and accessible anxiety-relief solutions.

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