Engineer saw how diapers were made, thought she could do better—now she has a $250,000 'Shark Tank' deal (via CNBCMakeIt)
CEO and founder Amrita Saigal pitches Kudos, her sustainable diaper company which brought in $850,000 in its first year, on ABC's "Shark Tank."After working as Procter & Gamble engineer for two years, the MIT and Harvard University graduate didn't understand why the company was making sanitary napkins and diapers with harsh chemicals.
Both Cuban and Paltrow said they were interested in the product's sustainability, its chemical-free nature and, perhaps most notably, its sales. Kudos brought in $850,000 in revenue in its first full year of business, Saigal said on the show. Before appearing on the show, Kudos had raised $3.3 million at a $12.5 million valuation. Saigal used that figure to ask the Sharks for $250,000, in exchange for 5% of the company.
"We need to figure out how to make this product a household name," she said. "We need to expand into other online retailers. We know the Goop audience is very, very aligned [and] has shared values."
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