Grease Monkey Wipes has managed to amass a substantial net worth by the year 2021. What happened to them now?
A set of wipes that may be used for heavy-duty cleaning, Grease Monkey Wipes are a great option. Their design was based on that of normal cleaning wipes, but they tweaked it to make it more durable and effective. When you don’t have access to soap and water, you may use these wipes instead.
They are also used in the removal of lubricant, grease, oil, and dirt from the skin and other body surfaces. Grease Monkey Wipes are disposable, in the same way that regular wet wipes are.
In addition, Green Monkey wipes are free of harsh chemicals and are enriched with citrus oil, making them a healthier alternative.
Grease Monkey Wipes Net Worth: What Will It Be in 2021?
The net worth of the Grease Monkey wipes’ owners has not been made public by the company that produces them. In contrast, when they first went on Shark Tank, they had just begun their firm and had sold seven thousand six hundred wipes, generating a revenue of seven thousand four hundred dollars.
Unfortunately, no information has been released about their sales, income, or net worth for the year 2021.
Deal on Grease Monkey Wipes on Shark Tank
Tim Stansbury and Erin Whalen, co-founders of Grease Monkey Wipes, made an appearance on the 12th season of the television show Shark Tank.
The recreational bikers came up with the concept of Grease Monkey Wipes because getting rid of grease without soap and water was difficult, and they wanted to provide a convenient solution for individuals on the move.
Tim and Ellen requested a $40,000 investment in exchange for a 40% ownership in the firm, which equaled 40 percent of the total. However, not all Sharks were interested in the agreement because to the low profit margin and the fact that they did not have a patent for the product at the time.
Then, Robert Herjavec and Barbara Cocoran agreed to the same arrangement of $40,000 for 40 percent ownership in the firm, which was later increased to $60,000 in total.
What Has Happened to the Grease Monkey Wipes?
As a result of the Shark Tank agreement, Grease Monkey Wipes’ company began to grow rapidly.
Tim Stansbury and Erin Whalen were successful in recouping their investment from the Sharks. Also, Tim purchased the firm from Erin’s family.
After being bought by Beaumont Products for an unknown financial sum in 2014, The Beaumont Group has been in charge of the company’s operations since that time.
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