Two young dads named Ray Phillips and Alvin Uy pitched their SoapSox business on Shark Tank in 2014. It’s a line of adorable soft, stuffed animals designed specifically for the bathtub. But SoapSox aren’t just toys for the tub but they also work as a wash cloth (there’s a soap pocket in each animal). On Shark Tank, Phillips and Uy asked for $260,000 for 10 percent. When all of the other investors opted out, Daymond John offered $260k for 33 percent, which prompted Lori Greiner and Robert Herjavec to jump back in. Greiner and Herjavec offered the two dads $1 million to buy the company outright. They declined.
Although Phillips and Uy walked out of the tank without a deal, Soap Sox is thriving. In addition to the original 6 animals (turtle, shark, alligator, hippo, duck and whale) they’re rolling out three new animals – Ava the pink dolphin, Ray the blue stingray, and Scorch the red dragon. Each animal sells for $14.95.
