In the competitive world of entrepreneurship, obtaining a product featured on ABC’s Shark Tank is a dream come true for many inventors and business owners. One such success story is that of Charli Chair, a revolutionary product that caught the attention of the sharks and secured a deal. In this article, we will explore the journey of Charli Chair, its appearance on Shark Tank, and the subsequent success that followed.
Charli Chair, a portable baby shower chair, was started by Hani & Meray Yassa in 1996. As of January 2024, CharliChair’s net worth is $4 million and they are dragging in a whopping $2.8 million in annual revenue. In April 2015, they appeared on season 1 of Shark Tank Australia and made a deal with John McGrath, for $100,000 for 50% of equity. The final valuation was $200,000, down from the founder’s initial estimate of $4 million.
As of 2024, Charli Chair is still active in business. Their youngest child, Charli-Rose was the inspiration behind this new idea. If you are also struggling with baby showering problems, you can buy their products from their official website.
To all the mothers out there, walk through this article and learn more about this unique baby showering product along with its Shark Tank experience.
Also Read: What Happened To Liberate After Shark Tank
As of 2023, the estimated net worth of Charli Chair is $4 million.
What Was The Net Worth of Charli Chair Before Appearing On Shark Tank in 2015?
In 2015 before appearing on Shark Tank, Charli Chair had an approximate net worth of $4 million.
What Was The Net Worth of Charli Chair After Appearing On Shark Tank in 2015?
In 2015 after appearing on Shark Tank Charli Chair had an approximate net worth of $200,000.
Who Is The Founder Of Charli Chair?
The founders of the company, Meray and her spouse Hani Yassa claimed that the sudden motivation for the idea of Charli Chair arose after their third child – Charli Rose, who was too bulky to safely wash while stooping over the tub.
Meray looked in vain for a chair she could use in the shower. That is why the couple designed a chair and made a business out of it.
Also Read: Arturo Elias Ayub Networth Shark Tank Mexico
Bonding and understanding with a newborn baby are crucial in every little step. Noticing their needs is more important. Likewise, motherhood needs a lot of patience which leads to problems like – back pain, knee pain, uncomfortable sitting and standing positions, etc.
Bath time can be a wonderful time to bond between mother and child, particularly when they have everything that makes time worth spending. You also require a secure and cosy space in which to bathe your newborn. This idea gave rise to the invention of the Charli Chair.
The Charli Chair is a creative chair for baby showers developed in Australia that provides a solution for parents’ pain relief from infant bathing problems.
It features a three-level height modification to match one’s desired standing height, which makes bathing convenient. Besides, it comes with rubber feet, a nonslip seat surface, a 5-point adjustable safety harness for the baby, and a multi-position recliner.
Baby safety is ensured by the harness, which has an adjustable height and angle for the parent to use when taking a bath. The chair can help kids up to 17 kg and can be utilized from infancy to youngster.
There are two kinds of Charli Chair available in the market: the Original and the 2-in-1, it is completely Australian-owned, designed, and engineered, and has different headquarters in Asia, Europe, and the US.
Both models contain a modern, lightweight aluminium frame that makes it easy to move the chair around, making them ideal for people with small bathrooms.
Also Read: What Happened To Sworkit After Shark Tank
The Shark Tank Experience
At that time even though they had only created and circulated 500 units, the couple attempted to get an investor by coming up on Shark Tank in 2015.
Although they knew very well that they wanted advice from an expert to drive their business successfully. However, they did not want to give up more than 25% shares of their firm.
They had to face a lot of questions when they declared that the worth of the company was $4 million as they were not able to provide any proof to verify their claim. The sharks also wanted to know about their profit margins.
The couple wanted to represent their baby shower highchair on Shark Tank and aimed to get an investment of $200,000. For this, they were ready to give up a 5% stake in their company. Nevertheless, John McGrath was the only Shark who showed his interest in the product.
The Reactions of The Sharks
The Yassas represented their baby showering highchair Charli Chair, intending to get an investment of $200,000 in exchange for a 5% equity in the business.
The product, which Meray Yassa developed after encountering back pain after the birth of her third child, allows parents to wash their children standing up in the shower.
After the Yassas were grilled on their $4 million valuation, their profit numbers and the relationship with their third-party manufacturer, real estate entrepreneur John McGrath was the only shark to put his hand up, although his offer was distant from the original deal.
Yassa told SmartCompany that the amount was not what they were after acknowledging that she had gone into the Shark Tank with a plan not to give up more than 25% of her business.
She has also added that they required guidance and a mentor and that is what they got with John. They came out with nothing from the Shark Tank stage but they managed to secure a great mentor.
McGrath said that he recognised the growing trend in the property market to abandon bathtubs in favour of space-saving showers and he could see a huge opportunity for the product.
But in place of 5% equity, McGrath offered the Yassas a $200,000 investment, to match the money they already invested in the product, consisting of $100,000 in exchange for a 50% stake and a further $100,000 loan.
McGrath told the couple that they do not have the business understanding and experience. He also added that he would like to be their business partner and then they could have 50% of something that could be worth millions.
But despite the tough deal, the couple reluctantly accepted that without delay. Yassa said that they did not want to give too much of our business away but having John on board, they were so excited, his name on its own will open so many doors.
Yassa said that McGrath’s expertise in the property industry will enable the couple to fulfil their dream of having a Charli Chair in every home. She said that they were excited when he picked up on that, he is truly a genius.
Yassa, who portrays the entire Shark Tank experience as “heart-wrenching”, said that the money will be spent towards a full international patent of the product and a small amount of marketing.
Her pitching advice to other entrepreneurs is to know your product and your numbers inside out.
She said that the Charli Chair, which is named after her daughter who was too hefty to be washed in a normal bathtub, is like a fourth child to the Yassas. She smiled and said that Shark Tank was like standing up to talk about their child and she thanked god as they did not have any complaints about the product.
John McGrath offered the Yassas a $200,000 investment to match the cash they had formerly put into the product, which includes $100,000 for 50% of the ownership and a further $100,000 credit, in place of the 5% share. The couple understood the deal and without any delay, they accepted it.
The founders of Charli Chair after Shark Tank, have developed their business to a fortune of $10 Million and their products are popular all over the world. The only solution to a problem is to find its need and how it will help society.
Also Read: What Happened To Ice Beanie After Shark Tank
Although their pitch was not going perfectly, one of the sharks saw potential in the product. John McGrath understood how many homeowners could find it useful.
Part of John’s encouragement was his involvement with the property market and his knowledge about baths giving way to showers in most new growths. This would call for a smart alternative for babies’ bath time.
John proposed an investment of $200,000. Meray understood the value of having his name affiliated to Charli Chair and they accepted the deal without a second thought.
After the Charli Chair Shark Tank episode, the company experienced tremendous growth.
Also Read: What Happened To TurboPup After Shark Tank
How Is Charli Chair Doing Now?
As of now Charli Chairs are still available for sale and the brand has developed. You can now buy the following products of the company:
- The original Charli Chair
- A Charli Chair 2-in-1 that can act as a bath too
- Pads to allow more comfort
If you visit the website of Charli Chair, you will find that they have stockists all over the globe.
Also Read: What Happened To Lifebelt After Shark Tank
Why Will You Use Charli Chair?
People would use Charli Chair to get the following advantages:
- No more sore knees or backache from bending, kneeling or lifting
- Excellent for Moms with back problems or c-sections
- Ideal for bathing in limited spaces
- Easier to bathe reluctant toddlers and also children with disabilities
- Great for asthmatic babies who benefit from shower steam
- Provide Mom or Dad and baby a happy and strong bonding experience
Charli Chair is trusted by moms all over the world with a brand presence in Europe, the US and Asia. It is 100% Australian-owned, designed and engineered and is available in 2 models: the Original and the 2-in-1.
Charli Chair Original has a free-flowing water capsule while the Charli Chair 2-in-1 has an added bath option for those moms who like their babies submerged in water while staying in the upright position.
Both variants have a sleek and lightweight aluminum frame design which permits one to effortlessly drive the chair which is perfect for those with limited bathing spaces.
Both models can also be partnered with a Charli Chair Cushion, available in a variety of colours such as black, blue, yellow, and pink to make bathing an even more enjoyable experience for you and your baby.
Also Read: What Happened To Petpaint After Shark Tank
Charli Chair’s journey from conception to Shark Tank’s success is a testament to the power of innovation and determination. As it continues to make waves in the market, the story of Charli Chair serves as an inspiration to aspiring entrepreneurs and inventors.
Did the Shark Tank deal get through for Charli Chair?
Yes, the founders of Charli Chair managed to secure a deal from one of the sharks in Shark Tank.
Who are the founders of Charli Chair?
The couple, Hani & Meray Yassa, set up Charli Chair in 1996.
When did Charli Chair appear on Shark Tank?
Charli Chair appeared on Shark Tank in 2015.