Whatever Happened To WISP After Shark Tank?
Everyone loves a comeback kid, and "Shark Tank" definitely allowed Eben Dobson and his WISP line of housewares products to make it into the black. Though he didn't land a deal from the Sharks during his 2018 appearance on the program, one shark's retroactive interest — and the approval of QVC buyers — resulted in WISP taking off. The product not only still exists, but it's also now worth millions of dollars.
It turns out the faith of one shark has helped Dobson reach such auspicious climbs. While Lori Greiner wasn't willing to invest in WISP on the program, she was willing to include Doboson's product during a 2018 Christmas season appearance on QVC, which she co-hosted. WISP's Facebook page hasn't had an update since 2021, its Twitter and Instagram accounts haven't been updated since 2018, and all of the products have sold out in its Amazon storefront without being restocked. WISP's financial report in September 2022 stated that the company was worth $7 million in profits.
The WISP didn't draw cash from the Sharks
During his "Shark Tank" appearance, Eben Dobson requested $500,000 in exchange for a 10% stake in WISP. He came to the sharks with proof that his product line has legs; in 2018, it had been in business for six years. He demonstrated the WISP, explaining that a combination of a dustpan controlled and held by one's foot and a broom made out of electrostatic bristles takes the strain off of one's back and arms while cleaning. It's the sort of product that's quite helpful for physically infirm or elderly folks, and with a handle that rotates, it can get into odd corners without much physical effort on the part of the sweeper.
But while Dobson's product boasted $3.5 million in sales with 10,000 units out the door in 2018, he revealed to the sharks that he hadn't managed to net a profit yet. Worse, the company was $2.1 million in debt, had lost $60,000 in 2017, and he only had $50,000 left from his own initial investment. Dobson took all of the blame for these mishaps and explained that he wanted the investing Shark's help in unkinking snags in his distribution line.
Many of the Sharks were put off by this revelation, and one by one, they dropped out. Only Lori Greiner and Kevin O'Leary remained. O'Leary offered to become Dobson's partner in the business to the tune of a 50% stake for a $50 thousand investment. Greiner, meanwhile, offered to sell Dobson's product on QVC without providing a financial stake, asking to become a third partner in the deal. O'Leary rejected Greiner's attempt at inveighing, but Dobson remained torn. Dobson accepted O'Leary's proposal, but his wishy-washiness caused O'Leary to withdraw his offer.
After Shark Tank, WISP got a lot of QVC attention
Kevin O'Leary's firm rejection of Eben Dobson's request resulted in one of the show's most tense inter-shark standoffs. While kicking Dobson out of the room and off the program without a deal, O'Leary said, "It was in your hand and you're talking to her? You're out of here. See ya, buddy. Goodbye, take your broom."
While Dobson left "Shark Tank" without a deal, he revealed on the official WISP product website that soon after his appearance on the show, Lori Greiner contacted him with an offer to sell his product during one of her QVC appearances.
The promotional stop took place on December 7, 2018, and it launched WISP as a viable product in the cleaning field. The product had appeared on QVC multiple times over the years, but it had never had Greiner's selling power behind it before. Apparently, her word was enough, because the company soon hit high levels of growth, with new products being added to the line soon after the appearance.
The WISP still thrives -- and has diversified over time
After appearing on "Shark Tank," the WISP line heavily diversified. The company also added a Pet WISP broom system specifically to clean up pet hair, the bigWISP and the handWISP, which offer handheld options to the product's cleaning power, a self-cleaning mop, a vacuum intended for use on draperies, and a microfiber dusting cloth and glove options. That's a lot of ways to WISP, and apparently, audiences enjoyed the variety. The company's online store often ran sales on the product, and they also developed a lasting relationship with QVC; its line of products were last sold there in May 2022.
In the wake. of the "Shark Tank" appearance, WISP turned around its million-plus dollar debt. This appeared to be excellent news for a struggling company that seemed to stand on the brink of death before Lori Greiner expressed her interest in the product.
WISP appears to be dead
Unfortunately, there's only so much Lori Greiner's help could do for WISP. Though the company broadened what it offered and seemed to make a big rebound on QVC, its website went down sometime in mid-December 2024. That was the last bastion from which the company was selling its wares, as the Amazon storefront has long been bare, its Facebook page hasn't been updated since 2021, and its Twitter and Instagram went dormant in 2018. That means there is currently no way for consumers to buy the product or contact WISP, making the company effectively dead.
Of course, it's always possible that WISP might resurface with a refurbished website, but having its storefront go down during the Christmas season is a bad sign. Time will tell if this really is the end for the broom company or if it has one more miraculous turnaround up its sleeve.