Overview
Manscaped is a male grooming and self-care brand that specializes in producing high-quality personal hygiene products for men. The company was founded by Paul Tran, Steve King, and Joshua King in 2016.
Manscaped has gained popularity over the years and has been featured on Shark Tank, securing a deal with Mark Cuban and Lori Greiner. Today, the company is worth an estimated $750 million.
Shark Tank Appearance
In 2018, Steve and Joshua King represented Manscaped on season 10 of Shark Tank. They introduced their package, which included eight different products, and requested $500,000 for a 7% stake in the company. Mark Cuban and Lori Greiner teamed up to offer $500,000 for 25%, and the entrepreneurs accepted their offer.
After Shark Tank
Although the deal with Mark Cuban and Lori Greiner did not close after the show, Manscaped gained exposure from the show, which boosted their sales. The company has collaborated with different sports teams to promote its brand, including the UFC and the Los Angeles Kings NHL team.
In 2021, Manscaped announced that it was going public via a SPAC deal with Bright Lights Acquisition that would value the combined entity at up to $1.4 billion. However, both companies mutually canceled the IPO in August 2022, citing weak market conditions.
According to Yahoo Finance, the company made $297 million in revenue in 2021 but had a net loss of $315 million. Nevertheless, Manscaped is forecasting over $500 million in revenue for 2023. Currently, the company is worth an estimated $750 million.
The Founders
Manscaped was founded by Paul Tran, Steve King, and Joshua King. Paul Tran is a Vietnamese entrepreneur who attended USC where he studied at the business and engineering schools.
He is the founder of IDK, an innovation laboratory, and became partners with Steve King and Joshua King, who later joined him as co-founders of Manscaped.
Establishing Manscaped
Paul Tran identified a gap in the market for high-quality male grooming products and decided to start a business selling these products. He used the term “manscaping” as the foundation of his brand, which officially launched in 2016.
During its first year, Manscaped sold 3,000 products and generated around $1.5 million in annual revenue.
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