Jax Sheets Update 2024 | Shark Tank Season 12
Jax Sheets founder Wen Muenyi pitched in Shark Tank Season 12 with an ask of $212,000 for 10% equity. Before pitching on Shark Tank, Wen Muenyi has crowdfunded $351,976 from Kickstarter.
In the Shark Tank, no sharks invested in this because of a lack of customer acquisition cost information and other essential data. Unfortunately, Wen Muenyi had to return without any deal in the tank. Will this business survive after not getting an investment? Find out what happened to Jax Sheets after Shark Tank!
If you’re in a hurry and don’t have time to read the whole story, here’s a brief overview of what happened to Jax Sheets after shark tank!
Jax Sheets appeared in Shark Tank (S12E09) and left without a deal. Kevin O’Leary suggested stopping T-shirts and focusing on bedsheets, but Wen has still not given up on the clothing lineups.
As of February 2024, Jax Sheets is still in business with an estimated net worth of $1 million. Wen Muenyi has merged its bedsheet and clothing businesses, and its website has been redirected to HercLéon. In fact, he had added some new products since the show.
| Company Name | Jax Sheets |
|---|---|
| Founders | Wen Muenyi |
| Founded | 2020 |
| Products | Stench-free bedsheets for men |
| Ask | $112,000 for 10% equity |
| Deal | No deal |
| Sharks | No shark |
| Episode | S12E09 |
Jax Sheets Shark Tank Pitch and Updates
Wen Muenyi pitched in Shark Tank to raise funds for Jax Sheets. It’s a stench-free bedsheet company for single men who rarely wash their bedsheets.
The bed sheets are made from a blend of silk, bamboo, and copper fabric, giving an odorless sleeping experience for over three months. It’s the ultimate solution for college-going male students who don’t wash their bedsheets for longer.
During his pitch, the Shark Tank was turned into a laughing show. The sharks were impressed by the honesty and jolly nature of the founder. Mark Cuban said, “It’s the best pitch ever in the Shark Tank”.
After the end of the pitch, Wen provided a sample of Jax Sheets material, a blend of silk, bamboo, and copper.
Mark Cuban liked the product quality, and Kevin O’Leary asked, “Is this a commercially available copper-infused cloth?”
Wen replied, “We are currently going through a process to get a patent on our materials.”
After a few more minutes of discussions, Wen said that Jax Sheets is funded on Kickstarter and crowdfunded $351,976 in the campaign, crushing his $5,000 goal.
Kevin O’Leary said, “I was sleeping through the beginning of this presentation but am now awake because you’ve sales.”
Then, Kevin asked about customer acquisition costs.
Wen said the customer acquisition cost is $33 against the average sale of $148. The margin in this business is approximately $70.
Since the Kickstarter campaign wrapped only a few weeks before his appearance on Shark Tank, he hadn’t made any additional sales apart from the crowdfunding campaign.
However, Kevin O’Leary and Robert Herjavec thought that customer acquisition costs would be much higher outside of Kickstarter.
Mark Cuban thought Wen was scaling this business the way he wanted, and Mark didn’t want to kill his vibe. So, he decided to go out.
Robert liked Wen’s honesty, but he doesn’t think it’s an investable business for now. So he is out from making any offer.
Lori Greiner also has similar thoughts about this business and has decided to go out.
Daymond thinks that Wen is dealing with three different categories, and it will be difficult for him to test out in the future, so he’s out of any offer.
Kevin O’Leary was interested in investing in Jax Sheets, but Wen has no data for customer acquisition costs, and for that reason, Kevin decided to go out!
Unfortunately, Jax Sheets didn’t get any offer in the Shark Tank, and Wen had to return without any deal.
Regarding updates, Jax Sheets is still in business, and Wen is selling it along with the clothing lineups. Currently, Jax Sheets is available on the HercLéon store for $149. After its debut on Shark Tank, CNN, StarTribune, Men’s Journal, and many other popular websites featured this brand.
Here’s more company updates from previous seasons:
Conclusion
The sharks were impressed with the honesty and jolly vibe of Wen Muenyi, but they thought his business was too early to invest. Unfortunately, Jax Sheets got no deal in the Shark Tank, but Wen’s fighting spirit kept this business alive.
Jax Sheets hasn’t seen a dramatic growth since Shark Tank. However, its estimated yearly revenue is over $1 million. Shark Tank Clips is following up with the entrepreneurs who appeared in the show and provided all updates here.
