Samantha Coxe knew she wasn't fooling anyone, least of all her dentist. After years of skipping flossing and insisting otherwise, the then-corporate lawyer left an appointment with over 10 cavities and a hefty dental bill.
Most people would have sworn to floss more. Coxe, on the other hand, quit her job and built a business.
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Her creation, Flaus – the "world's first electric flosser" – promises to revolutionize oral care. "I realized I wasn't alone in this struggle," Coxe shared on Shark Tank, where she pitched her product to the Sharks.
The now-32-year-old explained how Flaus simplifies flossing with recyclable floss heads, customizable speed settings, and up to 18,000 sonic vibrations per minute. The result? A flossing gadget that's faster, easier, and even fun to use. "Think of it like an electric toothbrush but for flossing," Coxe told the panel of investors.
Over the past year, her innovative product has raked in $900,000 in sales. But that was just the beginning. On the show, Coxe sought $250,000 for a 5% stake in her company to help grow Flaus into a full-fledged "oral beauty" brand. Her vision is to see it on shelves at Sephora and Ulta alongside other premium personal care products.
The numbers impressed the Sharks. Flaus kits sell for $99, costing only $10 to produce. Customers can subscribe for $5 per month or $15 quarterly to receive replacement floss heads. Despite no major PR campaigns, Coxe had already raised $3.5 million in funding over two and a half years. Profitability, she projected, was just around the corner in 2024.
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But not all the Sharks were ready to dive in. Mark Cuban passed, calling the oral care market outside his comfort zone. Lori Greiner, a fan of traditional floss picks, also bowed out. Still, three Sharks made offers.
Kevin O'Leary proposed $250,000 for 5% equity with a $2.50 royalty until he earned back $750,000. Daymond John countered with $250,000 for 10% equity. Candace Nelson, known for her strategic insight, offered $250,000 for 8% equity, promising mentorship and operational guidance.
Coxe went with Nelson, captivated by her hands-on approach. "To have someone recognize my passion and believe in me meant everything," Coxe said after the deal.
Flaus isn't just about flossing; it's solving a problem millions face every day. According to the American Dental Association, 32% of Americans admit they don't floss, despite dentists stressing its importance. The global oral care market, worth $47.2 billion in 2021, is expected to hit $54.9 billion by 2026 – a ripe opportunity for innovation like Flaus.
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