Sliimeyhoney Net Worth: A Stress-Bursting Food-Themed Slime for Fun

Right from the school-going kids to corporate workers, the anxiety surrounding people is reaching a height. To tackle this, we do have products like mandala paintings, sketching, colouring, and others which help lowering our stimulation, but one product that has completely changed it is slimes.

Now available in many forms and shapes, Sliimeyhoney gets the credit of introducing us a stress-bursting food-themed slimes that turns on our senses and make us feel good while playing. Invented by a 17-year-old Mark Lin in 2018 he appeared with his slime products on Shark Tank and gave the world a new way of relieving stress. Let’s see what he made out of his appearance.

About the Brand

Sliimeyhoney was founded by a 17-year-old entrepreneur, Mark Lin, in 2018 in California, USA, when he was in high school. The brand made slimes in the form of desserts and snacks, but is non-edible, scented, and offers a sensory experience to the kids and adults alike. The brand was started as a hobby, but soon gained fame and business, and the founder started selling these slimes on Etsy from his garage.

In June 2020, Sliimeyhoney officially launched and gained popularity as the founder started to share the process of making slimes and playing with them, especially on TikTok. The creative and appealing look of the slimes impressed the viewers, and the sales skyrocketed. They regularly drop new slime designs and forms on their websites, ranging from firmer to slimier textures, clear slimes to honey or cloud cream texture.

The slimes are made using borax, essential oils, and glue, and at present, they official sites features over 100 slimes of different shapes, designs, forms, scents, and feel. At present, the brand ships all over the world and has already shipped 1000 tubs of slimes. The price range of slimes is from $10 to $16 per container.

About the Founder

The founder of Sliimeyhoney is Mark Lin, who was about 17 years old when he founded the brand and was a high school student in California. He came up with the idea of making creative slimes that imitate desserts and snacks in 2018 and soon started making more than he could have thought of.

Mark went to John Borroughs High School in Burbank, California, and later enrolled into UCLA to pursue his major degree in Business Economics. Currently, he is still studying and managing his business, successfully balancing both.

During the lockdown, he started sharing his slime making videos on TikTok that earned him a loyal customer base, and he officially launched his business in June 2020. He later went to Shark Tank with his brand and appeared in 2022, and locked the deal with Daymond John.

What Happened at Shark Tank?

Mark Lin appeared on Shark Tank Season 14 Episode 6, and it was telecast on December 9, 2022.

Mark Lin entered Shark Tank and introduced himself and his passion for playing with food by squishing and smelling them. As he was not allowed to play with his food by his parents, he made a product that imitated food that he could play with. He asked for $150,000 in exchange for 10% of equity in his company. Mark ended his pitch by asking the Sharks to join and play with slimes.

Sharks did try the product and loved it, and Mark Cuban asked about the type of slime, to which he replied that he has over 100 slimes on his website. Daymond asked about the production facility of the product, and Lin replied that he is making them in his garage as of now, and his mother is helping with packaging and deliveries. He also has 11 friends helping in his business. Mark Cuban finally asked about the price of each unit, to which Lin answered that the price ranges from $10 to $16, including the shipping price, and the cost of making each is about $2 to $2.

Mark Cuban inquired about how he is marketing his product, to which Lin replied that he posts videos on TikTok and he gained about 900k followers. He posts every Saturday at 11 AM. Mark Cuban further asked about the cost of shipping, and Lin replied that he charges $5 to $6. Lori asked about the sales, and Lin replied that the total sales stand at $1.2 million. Mark was impressed with the 70% margin.

Lin discussed about the profit that in 2020, he made $50,000 in sales with a profit of $13,000, and in 2021, he made $580,000 with a profit of $300,000, and in 2022, he made $540,000 with a profit of $300,000. Daniel Lukskety quit the pitch, saying the business is not for him, and Lori opted out as she was not much aware about the product. Mark Cuban liked the idea but stepped out, stating the asking for the investment is a mistake. However, Kevin made an offer of $150,000 in exchange of 30% of equity, whereas Daymond offered $150,000 in exchange of 25% equity.

Lin asked the Sharks to increase the offer and made a counteroffer of $300,000 for 25% equity, but both the Sharks rejected the offer. Lin again counteroffered with $200,000 in exchange for 20% equity. The final offer made by Lin was $150,000 in exchange for 20% equity, to which both the sharks showed approval. However, Lin accepted Daymond’s offer.

Is the Brand Successful?

Yes, while Sliimeyhoney was doing good before appearing on Shark Tank Episode, but post the appearance, the brand was placed in the spotlight and within a few days, all products were sold out.

Mark Lin even moved to a larger facility for the production of the slimes and even gained more followers on TikTok. The estimated evaluation of the sales made by the brand in 2023 is said to be about $1 million, and the present net worth of the company stands at $1.5 million. The lifetime sales of the company are also said to be about $3.5 million, which is indeed impressing.