Calm Strips Shark Tank Update – Shark Tank Season 13
Michael Malkin and Luce Fuller sought a Shark’s help to grow Calm Strips, their discreet tactile calming strips. They secured a deal with Robert.
Michael Malkin and Luce Fuller pitched Calm Strips, their tactile calming device, in Shark Tank Season 13 Episode 13.
Check out other Shark Tank Season 13 Episodes.
About Calm Strips
| Category | Details |
|---|---|
| Business Name | Calm Strips |
| Founders | Michael Malkin, Luce Fuller |
| Industry | Tactile Calming Devices, Anxiety Management |
| Product | Tactile strips to manage anxiety and restless energy |
| Deal Status | Deal Secured with Robert Herjavec |
| Investment Asked | $250,000 for 10% equity |
| Deal Outcome | $250,000 for 35% equity |
| Valuation | $2.5 million (at the time of the Shark Tank pitch) |
Michael invented the product because he used to get anxious when it got busy in the Apple Store, which he managed. He’d drum his fingers and even put painter’s tape on his fingers to scrape together. This worked, but his fingers got too sticky. He wanted something like a fidget spinner, but more discreet.
What he came up with is Calm Strips. They’re literally strips with either a sandy or “river rock” texture, and rubbing them is a tactile calming exercise.
Tactile calming devices aren’t new; this is just a different kind. The strips can be adhered to a phone, worn on a key chain or lanyard, or put in your pocket or purse. Whenever you need to chill, just rub the Calm Strip until you’re relaxed.
They come in packs of five for $12.99 in a wide variety of colors and patterns. They also sell classroom packs of 30 for $49.99 or school packs of 120 for $119.99. The strips are used in over 3000 classrooms in the USA. They’re made of thin but extremely hardy and durable vinyl.
In May 2021, they introduced circular strips that stuck to phones, computers, or any other surface people wanted to put them on.
After launching the business from his home in April 2020, he grew it into an office with five employees. With over 100,000 customers, his business really took off quickly.
He likely wanted a Shark’s help with marketing and managing growth.
Calm Strips Shark Tank Recap
Michael and Luce entered the Shark Tank seeking $250,000 for 10% of their business. They talked about how Calm Strips help calm anxiety and further elucidated on their functionality.
The Sharks were rubbing their samples, and Michael explained how he came to invent the product.
Daymond did not get the appeal, to which Luce says they have over 100,000 people who do get it, and their return rate is less than 1%.
A five-pack of the soft sand texture costs $1 to make, and the river rock texture costs $2; they sell for $12.99. Since launch, they have done $2.5 million in sales.
They offer a full refund without returning the product, so they know their return rate is solid.
Did Calm Strips Get a Deal on Shark Tank?
Daymond liked the numbers but didn’t quite get it, so he was out. Mark didn’t think they could scale, so he was out too.
Robert wasn’t sure it wasn’t just a fad, but he offered $250,000 for 35%. Kevin offered $2.50 per unit until he made his money back, plus $1 per unit in perpetuity.
Robert countered with $2.50 per unit until he got his money back, then $1.50 per unit until he netted $750,000. Michael asked Lori if she was in, and Robert went out.
Lori said she would do the same deal as Kevin, but also wanted 8% equity. Next, Michael asked Robert if he would do $250,000 for 20% equity, and Robert said no.
They asked if he would do his original deal and took Robert up on it.
What Makes Calm Strips Unique?
In a world full of mental health gimmick toys, their product actually offered relief through a sensory experience that could stick to any surface.
Calm Strips Shark Tank Update
The deal with Robert never closed.
In the immediate aftermath of the show, the company was overwhelmed with sales. Their retail presence is in around 240 stores, and their annual revenue at this time is a little over $1 million.
In July 2024, they added a box breathing set to the line and offer custom strips. The company has around $5 million in lifetime revenue. The estimated net worth of Calm Strips ranges between $3 million and $5 million.
***Editor’s Note: A coworker gave a pack of these to my wife as a gift. She has a strip stuck to the back of her phone and uses it daily.***
Where Can You Buy It?
Besides numerous retail stores, Calm Strips can be purchased from the company’s official website or Amazon. More updates can be followed up on through their social media handles on Instagram and Facebook.
Posts About Calm Strips on Shark Tank Blog
Read more information on the Calm Strips.
Quick Summary
- Michael Malkin and Luce Fuller pitched Calm Strips, seeking $250,000 for 10% equity to expand their tactile device that helps reduce anxiety and manage restless energy.
- Despite strong sales and a low return rate, the Sharks expressed doubts about scaling.n
- Calm Strips expanded into around 240 retailers and has over $5 million in lifetime revenue.
See what else is new! View other businesses featured in this episode, along with their updates.
