AngelLift Reduce Facial Wrinkles
DEAL
EPISODE SUMMARY
🕓 Air Date: May 2, 2014
Asking For:
$500,000 for 10%
Investor:
Lori Greiner
Deal:
$500,000 for 15
PRODUCT SUMMARY
AngelLift offers under-the-skin facial lifting strips designed to combat aging signs like wrinkles and sagging. They claim to use light, soft pressure to lift lines, restore facial contours, and add volume to lips, akin to teeth-whitening strips, with 10 to 30 minutes of daily wear.
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Background Story
Aaron Bruce, founder of AngelLift, entered the “Shark Tank” seeking investment for his innovative anti-aging solution. With a passion for skincare and a keen eye for market trends, Aaron observed the widespread desire for youthful appearance and the hefty investments individuals made in invasive procedures. Drawing on his experience and knowledge, Aaron identified a gap in the market for a non-invasive solution that could effectively combat the signs of aging.
Inspired by the principles of orthodontics, particularly the impact of pressure on facial structure observed in braces wearers, Aaron conceptualized AngelLift as an alternative to injections and surgical procedures. His vision for AngelLift stemmed from a desire to offer individuals a safe, convenient, and affordable way to maintain a youthful appearance without resorting to drastic measures. Leveraging his understanding of facial anatomy and his entrepreneurial spirit, Aaron assembled a team of experts to develop the technology behind AngelLift.
Through meticulous research and development, AngelLift emerged as the world’s first under-the-skin facial lifting strips. Aaron’s background in skincare and his innovative approach to anti-aging solutions positioned him as a visionary in the industry. With AngelLift, he aimed to disrupt the traditional methods of facial rejuvenation and empower individuals to take control of their aging process with a simple and effective solution.
The Product
AngelLift offers a groundbreaking solution to combat the signs of aging through its under-the-skin facial lifting strips. These strips utilize a unique combination of light pressure and soft material to target common aging concerns such as wrinkles, sagging, and loss of facial volume. The strips are designed to be worn similarly to teeth-whitening strips, requiring just 10 to 30 minutes of daily use.
By applying gentle pressure to specific areas of the face, AngelLift aims to lift lines, restore facial contours, and enhance lip volume without the need for invasive procedures like injections or surgery. Users can expect visible improvements in their appearance with regular use, achieving a more youthful and refreshed look over time.
AngelLift strips offer several benefits, including convenience, affordability, and effectiveness. Unlike traditional anti-aging treatments, AngelLift provides a non-invasive option that can be easily incorporated into daily skincare routines. Additionally, the strips are available for purchase directly from the company’s website or through select retail channels, priced at $49 per set.
With clinical trials and third-party validations supporting its efficacy, AngelLift has garnered attention for its innovative approach to facial rejuvenation. Whether targeting laugh lines, smile lines, frown lines, or lip lines, AngelLift offers a safe and accessible solution for individuals seeking to combat the effects of aging and restore their youthful appearance.
How It Went
The company’s position before Shark Tank
AngelLift entered the market with promising initial performance, demonstrating strong sales during a test market phase. During this period, the company achieved impressive retail sales of $3 million, with profits totaling $1.2 million. These figures underscored the viability of AngelLift’s innovative anti-aging solution and highlighted its potential for further growth. Despite its success, AngelLift’s distribution channels were primarily focused on direct-to-consumer sales through their website, with limited engagement with wholesalers or retail partners.
The company’s customer base primarily comprised individuals seeking non-invasive alternatives to traditional anti-aging treatments, with a notable segment of male customers accounting for approximately 30% of sales. In terms of funding, AngelLift initially relied on internal resources and revenue generated from sales to finance its operations and growth initiatives. However, seeking to accelerate expansion and brand development, the company sought external investment, entering the Shark Tank seeking $500,000 in exchange for a 10% equity stake.
AngelLift’s financial position was bolstered by available capital, with the company reportedly having $1 million in cash reserves. However, concerns were raised during the pitch regarding the decision to pull back sales despite strong performance, indicating potential strategic considerations or uncertainties within the company’s management.While the company demonstrated promising sales and a unique product offering, questions remained regarding its distribution channels, funding strategy, and overall business direction.
The Negotiations:
During the negotiations on Shark Tank, Aaron Bruce, the founder of AngelLift, faced scrutiny and skepticism from the sharks regarding his decision to pull back sales despite the company’s strong performance. Lori Greiner expressed interest but offered $500,000 for a steep 25% equity stake, which Aaron deemed too high. Aaron declined Lori’s offer, seeking a lower equity stake for the same investment.
Ultimately, after intense deliberation, Aaron accepted Lori’s revised offer of $500,000 for a 15% equity stake. However, Lori’s investment came with a unique condition: the $500,000 would solely fund purchase orders from QVC, a strategic move to leverage AngelLift’s potential in the retail space. Despite initial resistance, Aaron recognized the value of Lori’s expertise and the opportunity to access QVC’s expansive audience.
The negotiations highlighted the sharks’ concerns about AngelLift’s strategic direction and management decisions, particularly regarding the decision to halt sales despite strong performance. While some sharks were skeptical of Aaron’s motives and approach, Lori saw potential in the product and its market appeal, ultimately securing a deal that aligned with her vision for AngelLift’s growth and expansion.
