The Mad Optimist is a vegan soap company based in Bloomington, Indiana, home of the Indiana University. When the three young and fun founders and friends — Anthony Duncan, Mohammed A. Mahdi, Mohammed M. Mahdi — of The Mad Optimist pitched their product on Shark Tank, they landed an investment from Indiana University alum billionaire Mark Cuban.
The Mad Optimist innovative founders –who explained that they are Muslim and didn’t like the idea of washing with soap made with animal fat and who offer a sliding price scale so customers can choose how much they want to pay — went into the Tank seeking an investment of $60,000 in exchange for 10 percent equity.
They accepted Cuban’s offer of $60k for 20 percent, and as they discussed on the show, donated 100% of sales from their Shark Tank episode debut to charity.
The Mad Optimist reports that they generated more than $80,000 in sales are are donating all online revenue to “worthy organizations which fight societal oppression by assisting groups such as the homeless, refugees, and LGBT youth.”
This Shark Tank episode initially aired on May 15, 2020, and is re-airing on Friday, July 10 at 8 pm on ABC. [Related: 27 Favorite ‘Shark Tank’ Products at Amazon]