This article is about Soapsox Net Worth and Other Information. SoapSox is famous for its bath-friendly stuffed toys. These toys are loved by both babies and parents. Its appearance on Shark Tank highlighted its innovative products.
Introduction of Soapsox
After recreation, it might be difficult to motivate kids to take a bath. SoapSox are cute plush toys with soap compartments that were invented by Ray Philips and Alvin Uy.
The Founders of Soapsox
Fathers who shared a childhood in the same neighborhood of Los Angeles, California, are Alvin Uy and Ray Philips. Although they come from similar origins, they have opted to pursue distinct careers. From the University of California, Ray received a degree.
Alvin pursued his education in art at the ArtCenter College of Design, Platt College, and California State Polytechnic University. While nothing is known about Ray’s early professional life, Alvin has had a very active career.
Alvin Uy began working for TLR & Associates as a senior art director. Later, at DZN-AGI Media and Insight Creative Group, Inc., he was promoted to the position of creative director.
Alvin has also engaged in a number of commercial initiatives, including the establishment of Vinjen Capital, Vinjen Realty, and AARK Investments.
Establishing The Company (Soapsox)
Ray Philips’ excellent idea was sparked by a young child who insisted on taking a bath with his plush animal. He used a soap pocket to make a soft toy. After observing the favorable outcome, he partnered with Alvin Uy to design products.
SoapSox, a line of seven different toy designs, debuted on the market in 2013.
The founders’ Kickstarter campaign was successful, raising an amazing $52,000. Their sales hit $300,000 in less than six months, and they were able to sign a contract with Nordstrom.
Soapsox Net Worth and Other Information
|Soapsox Founder||Ray Phillips, Alvin Uy|
|Soapsox Headquarters||Pasadena, California, United States|
|Product||Animal-shaped washcloths for kids|
|Asked For||$260 000 for 10% equity|
|Final Deal||No deal|
|Episode||Season 6 Episode 03|
|Business Status||In Business|
|Soapsox Net Worth||$6.2 million|
Soapsox Website and Other Social Media Existance
|Social Media Site||Linked Destination|
|Soapsox Website||Click Here|
|Soapsox Facebook||Click Here|
|Soapsox Twitter||Click Here|
|Soapsox Instagram||Click Here|
|Soapsox Youtube||Click Here|
|Soapsox Linkedin||Click Here|
Soapsox Shark Tank Appearance
SoapSox, although being a newcomer, had strong sales and attracted the Sharks’ attention. Alvin and Ray asked for $260,000 for a 10% stake during their appearance on Shark Tank.
Each Shark was given a SoapSox animal that represented their unique personalities. The enormous profit margins of the toys, however, surprised the Sharks.
Daymond John suggested contributing $260,000 in return for a 33% ownership part in the business. The business owners were unwilling to part up such a substantial chunk of their ownership, though.
They turned down Lori Greiner and Robert Herjavec’s offer to buy the whole business for $1 million as a result.
Soapsox Net Worth | SoapSox Net Worth
As of 2023, Soapsox net worth is approximately $6.2 million.
Soapsox After Shark Tank
What happened to Soapsox after shark tank
The most searched term about Soapsox is “What happened to Soapsox after shark tank?” In short, “Soapsox soared after Shark Tank, thanks to Lori Greiner’s investment. Now a leading brand, Soapsox cleans up with its cuddly, soap-filled washcloths.” Let’s dive deep into it.
Alvin, Ray, and the other contestants on Shark Tank failed to land a deal, so they turned to crowdsourcing. They were successful in raising over $1 million on StartEngine in 2020. The business was worth $6.2 million after this great campaign.
At the moment, SoapSox brings in around $2.5 million a year. While some sources claim that they make $8 million in annual sales, these numbers are unreliable.
2016 saw the signing of licensing agreements by SoapSox with well-known companies including Disney and Paw Patrol. Through their collaboration, they were able to create plush toys with well-known TV characters.
Amazon, Walmart, ToysRUs, SoapSoxKids.com, and 50 Nordstrom US locations all carry these items.
On Amazon, many SoapSox toys have gotten 4 to 5-star ratings, garnering acclaim from both kids and parents. The business is still expanding steadily.
The Sharks may now regret not making a slightly larger investment to buy the business in light of this.
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Soapsox Paw Patrol: Bath Time Fun with the Pups!
Make bath time more fun and paw-sitively exciting with Soapsox Paw Patrol! These cuddly washcloths have built-in soap pockets that make it easy to wash kids, without the need for messy soap bottles.
With Chase, Marshall, Skye, and the rest of the Paw Patrol gang, kids will love getting clean. Soapsox Paw Patrol are machine-washable and dryer-safe, so they’re easy to care for too.
Key accomplishments of SoapSox include:
- For SoapSox, Ray Philips and Alvin Uy were granted a patent in 2013.
- The Juvenile Products Manufacturers Association (JPMA) Innovation Award was given to SoapSox the following year.
- Disney Baby and SoapSox agreed to a licensing agreement in 2016.
FAQ – Soapsox Net Worth
What is Soapsox net worth?
As of 2023, Soapsox’s net worth is estimated at $6.2 million.
Who are the founders of Soapsox?
The Soapsox founders are Ray Phillips and Alvin Uy.