Mad Rabbit is a tattoo aftercare products company that takes care of the art and designs that you imprint on your bodies in the form of tattoos. Tattoos require constant maintenance to make them look vibrant and healthy so that you can flaunt them any time without worrying about discoloration and sepsis.
Selom was born in Ghana, Africa. He always wanted to be an artist but chose a finance major at University and worked in corporate finance in Dallas, Texas.
Oliver has had a passion for entrepreneurship ever since he watched his dad become an entrepreneur after he couldn’t perform surgeries due to an injury in an accident.
What is Mad Rabbit?
Mad Rabbit uses all-natural ingredients that immediately restore the ink on your skin after application. The lotion can be applied on all skin tones and skin types, and people love Mad Rabbit as their go-to tattoo salve to keep their tattoos looking fresh and new.
Mad Rabbit has introduced a range of products that help to take care of your healing tattoos, including tattoo balms, balm sticks, daily lotions, soothing gels, sunscreens, and even body wash.
What Makes Them Unique?
Mad Rabbit gives nourishment and moisture to your tattoos and makes the colors look more vibrant. It moisturizes the skin layer on top of the tattoo, which helps bring dull and faded tattoos to life.
Mad Rabbit uses plant-based ingredients that are an excellent choice for even sensitive skin. The non-toxic formula is a safe and effective way to soothe and moisturize your tattoos and get rid of the dry and scabby surface that comes with healing tattoos.
Mad Rabbit uses natural ingredients to help replenish and nourish your tattoos. These include Shea Butter, Sweet Almond Oil, Cocoa Butter, Lavender, Beeswax, Vanilla, Coconut, Calendula oil, etc.
Are They Still an Active Company?
Mad Rabbit is successfully running a website and active social media accounts. They have more than 200 thousand followers on Instagram, where people regularly post about their experiences using the Mad Rabbit tattoo balms or other products.
How Did the Shark Tank Pitch Go?
Oliver Zak and Selom Agbitor came to Shark Tank seeking $500,000 for 5% of their company.
Oliver and Selom both had a passion for art and tattoos, and that is how they started their business, Mad Rabbit.
Kevin was still intrigued why they would ask for such a high valuation, and Oliver replied that they had $300,000 in sales in just the previous month. So far that year, they had crossed $1.7 million in sales.
They started their business with just one product in January 2019. The Sharks were impressed by their high sales, and Selom explained that they were selling direct-to-consumer through their website alone.
Oliver revealed that they had spent a lot of money on marketing content and research regarding tattoo education. They had to study what works best for the nourishment and health of tattoos. They asked for feedback from their customers and further improved their product.
Mark commented that since they claim that their customers love to use this product for their tattoos, they must have a great subscription service. The duo agreed and told him that they had over 5000 subscribers.
Lori asked them about market competition, and Oliver responded that about 12 competitors worldwide dealt with tattoo aftercare products. However, they were the only ones using all-natural ingredients and manufacturing their products in the USA.
Daymond was still unsure about any special or prominent feature that makes their product stand out since they were apparently doing a great job with their sales.
Selom replied that a future NBA hall of Famer reached out to them to inquire about their product, as he has been using it for the past month. Mark agreed that the organic ingredients in the product were making it sell rapidly.
Oliver said that they were paying some influencers to help with the marketing of the product. They might pay $5000 to one of the top 10 tattoo artists so that he can promote their product.
They were also paying two models, who had their following, as different groups of people obtain their tattoos for different reasons. This helped them reach out to submarkets as well.
Their customer acquisition cost was between 6 to 7 dollars. Mark was still adamant about knowing about their “secret sauce,” Oliver replied that the secret sauce was the tight-knit community they had built through their brand. They were using Instagram marketing tools to allow people to share their experiences with their products and connect to their brand.
They spent $85,000 on marketing in the previous year and were sitting at 20% net profit margins, and they were expecting to make $3 million with just one product that year.
Kevin said he would give them the $500,000 in a debt deal and charge them $9.75%. He would also want a 5% equity. Kevin was amazed by the skills of the young entrepreneurs, as they were not even working full-time for the company and still making killer numbers by their sales.
Daymond thought they were doing very well on their own, and he couldn’t add any more value to the company. He was out.
Barbara had the same opinion that she could not help them with their company. She went out as well.
Mark asked them why they were on the show. The duo replied that they needed someone to believe in them and share their vision.
Mark liked their business model and made an offer. He would give them the $500,000 but for 12% equity and said the offer was non-negotiable.
The duo turned to Lori and asked Mark to come work with them in collaboration with Lori. Mark straightaway declined.
Meanwhile, Daymond commented that they were foolish not to consider Mark’s offer in the first place.
Oliver and Selom gladly accepted Mark’s offer and sealed the deal.
Our Review of Mad Rabbit
Mad Rabbit is a great soothing tattoo balm with natural ingredients, making it suitable to use even on irritated or healing skin. However, the plant-based ingredients give the product an overall herb-like smell, which is not desirable to some people.
Pros of Mad Rabbit
- The color and contrast of tattoos appear to be more vibrant after the application of tattoo balm
- All natural ingredients are perfect for different skin types.
Cons of Mad Rabbit
- The product is a bit gritty
- It might require warming up the wax between palms before application.
Who Is Mad Rabbit For?
Tattoos require a lot of money and time; therefore, they deserve care and maintenance. Mad Rabbit tattoo aftercare products give them an easy way to keep their old tattoos looking new and vibrant.
Are There Any Alternatives?
- Kopari Organic Coconut Melt
- Billy Jealousy Tattoo Lotion
- Hustle Butter Tattoo Care & Maintenance Cream
- Tattoo Goo The Original After Care Salve.
Our Final Thoughts:
Mad Rabbit was doing great even before they made an appearance on Shark Tank. The investment and partnership by genius Mark Cuban would take the company to even greater heights than before.