Shark Tank Update: Nootrobox
By Erica Abbott
Founders: Geoffrey Woo and Michael Brandt
Season: Appeared on season 8 in the week 10 episode
Nootrobox helps boost memory, improve sleep patterns and enhance clarity with chewable coffee products. The various nootropics help improve a person’s long-term cognitive state. Their Full Stack of products costs $135 as a one-time order and features Yawn, Rise, Kado-3 and Sprint.
The various products are used throughout the day to help improve stamina, optimize cognition and increase relaxation. According to their website, their mission “is to create a better society through smarter, better brains. We develop nootropics and other cognitive enhancement products that are accessible, safe, and effective for everyone.”
When Woo and Brandt originally appeared on “Shark Tank,” they came in asking for $2 million for five percent equity. Many of the sharks expressed concerns over their valuation and guest shark Chris Sacca worried about the products’ long-term repercussions. Lori Greiner believed they were too science-oriented and not even sales-oriented. Ultimately, the sharks could not get past the valuation and the founders left without a deal.
Woo spoke with Business 2 Community about Nootrobox’s experience on the show and what their next steps are. Take a look at the Q&A below:
Q&A with Nootrobox’s Co-Founder Geoffrey Woo
What was your strategy for navigating “Shark Tank”?
Two parts of the strategy coming in: 1. Treat it like any normal Silicon Valley venture capital pitch that we’re used to in San Francisco, and 2. Speak to the viewer at home and sell them our products!
How has Nootrobox changed since the episode was first recorded? Since it aired?
We’ve doubled in team size adding world class operations, design, and researchers. Our core business has grown a lot since then as well.
Is there anything you would have changed about your time spent in the tank, including your pitch and valuation?
Hard to say what we’d change since the biggest sticking point from the sharks was company valuation.
We would not have changed our valuation because our company has such strong fundamentals. In fact, our execution and growth since taping has validated that 40m valuation was a great price at the time.
Who’s your favorite shark?
Sacca and Cuban were sharp.
Despite not getting a deal, do you think “Shark Tank” was the right move for your business?
Yes, absolutely. We got to talk about biohacking and nootropics to millions of people! And people resonate with us and our products. Our revenues are higher than ever.
What are Nootrobox’s next steps?
We will keep growing our biohacking community and are doing a lot of R&D to make even better human enhancement technologies and products.
Where do you see this industry in 5-10 years?
The biohacking industry will be as large if not larger than the computer industry.
What would you say to people who want to start their own business?
Be ready to do everyone’s job. Not only are you the founder / CEO, you are also customer support agent, you are engineer, you are designer, you are also the janitor. Only start a company if you’re ready to start Go to the full article.