Nohbo Net Worth 2022
Currently, Nohbo is working with over 60 companies to produce and sell water-soluble personal care products. The company’s flagship product is the Nohbo Ball, a water-soluble ball that contains shampoo and conditioner. It is a reusable container that can last four to six weeks. It is made of a plant-based material that is activated by water. This product is sold through the company’s website. It is currently priced at $10 per pack. Nohbo has plans to introduce subscription-based offerings later this year.
The company is also in the hospitality industry, and it has entered into the direct-to-consumer industry. Stern, who is 16 years old, conceived the idea of a water-soluble bottle after watching a documentary on plastic waste. He believed the product could help eliminate the use of plastic bottles in the bathroom. He teamed up with a chemist who was closer to the company’s headquarters in Melbourne, Florida. Using Stern’s technology, the chemist transformed the ball into a gel-like product. He also patented the product.
Currently, Nohbo is selling its products directly through its website. Stern has also licensed the technology to over 60 companies. He is preparing to pitch his product on Shark Tank and has been fielding investment offers. He is aiming to get his product into Target and drug stores.
Nohbo has raised $3 million in a Series Seed funding round. It will also use the money to scale up production and get the product into stores. The company has also secured an investment from billionaire Mark Cuban. The company is currently working with a contract worker and two full-time employees. Currently, Nohbo has a factory that can produce 195,000 pods per day. In addition to this, the company has opened an office-laboratory inside Groundswell Startups. It has also filed for seven patents.
Stern believes the company will be worth over $100 million in the next few years. This is due in part to the rising demand for more sustainable products. Nohbo’s product is designed to replace plastic bottles and plastic packaging. It also aims to reduce the amount of waste generated by consumers. It is estimated that 4 out of 5 people do not recycle the plastic waste they create in their bathrooms. This waste kills ocean life and contributes to a huge amount of waste. The company’s goal is to become a major player in the personal care industry.
The company has a current purchase order of 76 million units for the next four years. They plan to increase production to 15 million units a month. It also plans to expand its personal care line and license NOHBO balls to major companies.
The company is based in Melbourne, Florida, and is a venture-backed startup. It has received an investment from Mark Cuban, who has invested $100,000 in Nohbo in exchange for 25% of the company. He will also sit on the company’s board of directors. The company’s website has also been revamped. Mark Cuban Companies has helped the company secure a manufacturing deal and secure a website overhaul.
