Stasher is a company founded by an entrepreneur from Oakland, CA, that is attempting to reduce the use of plastic storage containers and freezer bags with something that he believes is a healthier alternative. Instead of using plastic, Stasher uses non-plastic, re-usuable, dishwasher silicon safe storage bags.
The belief is that plastic is inherently unhealthy in and of itself and that by using these non-plastic storage mags made from "platinum grade" silicon, people will experience more healthy lives. The entrepreneur previously founded the company "Modern Twist" which made silicon into a textile and has experience working with it.
The product comes in three different sizes, $9.99 for the smallest, $11.99 for the medium sized bags, and $19.99 for the largest. The company has sold $1,600,000 in the twelve months it has been on the market with a claimed gross margin of $1,000,000 and a net profit of $100,000. 50% of sales were through e-commerce with Amazon making up 30% of that number and the company's own e-commerce site making up just 7% of the sales.
The entrepreneur projects that Stasher will gross $5,200,000 in the year in which the episode aired.
This deal aired on Episode 9.15.
Making A Deal
Mark Cuban bit on this deal, offering the asked for $400,000 for 15% of equity. While this represents a bite of over $5,000,000 on the initial value of the company, Mark also offered to provide a $400,000 line of credit to fund inventory.
- There are certainly some panicked studies about how micro-plastics have been found everywhere on Earth and even within the human body. And there have been other studies that have suggested plastics may leak certain chemicals over time. But, as to the actual effect on human health plastics are supposed to have or not, nothing has proven them dangerous in anyway and none of the studies that claim to have found unfavorable health effects have been reproduced in any meaningful way, throwing their results into real doubt.