Fitness & yoga instructor Lisa Binderow developed the yoga and comfort gear company Nicepipes, which is one of those Shark Tank tales that have turned out to be tales of surprising success after their less-than-desirable fate on the popular angel investing show, Shark Tank.
The brand’s main source of revenue comes from the sale of its wide selection of arm and leg warmers to Yoga and fitness aficionados, a concept that, according to Binderow, was not given the proper recognition or value on the popular show.
This article discusses the brand’s present situation after its creator declined a seemingly enticing $100,000 offer from the Shark Tank hosts. Continue reading to see their current net worth and learn about their experience on Shark Tank.
Who Is the Owner?
Lisa Binderow, who also serves as the company’s founder, is the owner of Nice pipes. Lisa worked as a manager and yoga instructor at Yoga Works before making an appearance on Shark Tank. She also worked at Platinum Dunes for two years as a producer’s assistant.
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On a chilly morning, Lisa had the idea for Nicepipes as she walked to her yoga practice. She didn’t want to use heavy woolen fabrics to make arm and leg warmers. Instead, she intended to build Nicepipes out of a lightweight, cozy fabric, like the cloth used to make yoga trousers. That’s what she did.
Nice Pipes Net Worth
The officials have not provided information about Nicepipe’s Net Worth in 2021, and as of this writing, no reputable financial website has estimated it. However, according to Nicepipes’ profile on the app Owler, over the previous year, the group made about USD 4.4 million (about equivalent to a sum north of INR 30 crores).
According to DigiStatement, Nicepipes sells its performance leg and arm warmers online at sites like Amazon and eBay rather than in actual stores. Below is a screenshot of Picepipes’ Owler profile.
Regarding Nicepipes Social Media Endeavors
On social media platforms like Facebook, Twitter, and Instagram, Nicepipes has created specific social media accounts for each of its companies.
But no updates have been made to them since 2018. However, a quick scan of Nicepipes’ Instagram profile does provide the user with some insight into their offering. Below are a few photos taken from the Nicepipes Instagram account.
Appearance in A Shark Tank
The businessman invented sweat-wicking leg and arm warmers that wouldn’t fall down when exercising. Lisa requested a $100,000 loan and a 10% equity ownership in her business. However, Lisa’s pitch did not win over all of the Sharks.
Kevin remarked that Lisa’s workout attire was not very distinctive. Despite liking the concept of Nicepipes, Lora didn’t believe it was worthwhile to invest in. Barbra offered Lisa $100,000 in exchange for 40% of the company’s shares, but Lisa turned down the deal.
After the performance, Lisa wrote on a blog that she had come to the realization that she hadn’t joined Nicepipes to become rich. She sought to find a solution to an issue in the fitness sector. The businesswoman recognized that if she had accepted the contract, it would have been a commitment she could never reverse.
Business of Nicepipes Following Shark Tank
According to the Shark Tank blog, as of May 2021, Binderow was still serving as the CEO of Nice pipes. At that time, the company’s reported yearly sales were $4 million.
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Customers can purchase Nicepipes items on Amazon as well as the company’s own retail website, nicepipesapparel.com. All of the items are produced in the United States, have UP 50+ SPF, and are sweat-wicking.
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