Kids love to play with slime but adults can also have fun with the gooey product. Sliimeyhoney makes slime exclusively for adults. They are great stress relievers, and their scent can have a calming effect. Founder Mark Lin, recently pitched the business on Shark Tank and got a deal with Daymond John. As of 2023, Sliimeyhoney is worth an estimated $750,000.
About the Founder
Mark Lin is a young entrepreneur and social media marketer from Los Angeles, California. He has recently graduated from high school and is planning to study business and economics at UCLA. There isn’t much information about his family and early life.
He built up a large following for Sliimeyhoney on TikTok and now has over 927,000 followers on the platform. Mark mastered the art of creating viral content and understands how TikTok’s algorithm works. The company also has an Instagram account with around 70,000 followers.
Founding the Company
As a teenager. Lin started making clever slime designs as a hobby. Not exactly a common hobby but it helped him deal with stress and anxiety. He soon realized it could become a serious business opportunity and started selling his creations.
The UCLA student sold his first slime on Etsy in 2018 and hasn’t looked back since. They were made of glue, essential oil, and borax and had a very pleasant smell. His most popular designs are themes like gourmet food, but it should be noted that they aren’t edible.
As time went by, the company continued to grow and Mark hired some of his friends to work for him. In 2020, he launched an official website to sell direct to consumers. Lin applied to appear on the show twice but on the third time he finally got a call from Shark Tank producers.
Shark Tank Appearance
The 17 year-old gave an enthusiastic pitch and did a great job explaining the benefits of his product. Lin revealed he sells over 100 different slimes and operates the business from his parents garage. He has healthy margins but makes the product himself and helps pack orders.
The Sharks were shocked by the sales figures, Sliimeyhoney did $50,000 in 2020, $580,000 in 2021 and $540,000 in revenue so far for 2022. Kevin O’Leary was the first to make an offer of $150,000 for 30%.
Lori and Cuban dropped out believing Lin didn’t need an investor. Daymond jumped in and offered $150,000 but for 25%. Lin countered with $150,000 for 20% and eventually went with Daymond John.
After Shark Tank
Although the episode only aired, Sliimeyhoney is expecting to receive a huge boost in sales from the publicity. The youngster was already doing well on his own and didn’t need to bring on an investor. With $1.2 million in lifetime sales, it might make more sense to drop out and really go for it.
Right now Mark Lin’s main goal is to find a warehouse and move the operations away from his parent’s garage. He has plans to get into major retail chains like Target and Walmart.
Sliimeyhoney is only available on a few online platforms. This includes Etsy, TikTok shop, and its official website, Sliimeyhoney.com. Many of their products have a 4-star and above rating on their website. You can use the code “Sharks” to get a 15% discount.
Sliimeyhoney is worth an estimated $750,000 and should make well over $600,000 in sales for 2022. The deal with Daymond John hasn’t been finalized yet but should close in a few months unless Lin changes his mind.
