In North Carolina, two entrepreneurs who took their plant-based laundry sheets onto the popular Shark Tank product pitch reality show have walked away with an investment deal.
Daniel Lubetzky, a guest “shark” on the November 19 episode of the ABC hit—as well as the billionaire behind KIND Snacks and SOMOS foods—declared “we have a deal” on Sheets Laundry Club; launched in 2019 by Chris Campbell and Chris Videau, Sheets is aimed at addressing microplastics in oceans. On the show, Videau said he became passionate about reducing plastics use after returning from military service in Iraq, where widespread plastics burning damaged his lungs.
Lubetzky says he is excited to support Sheets, adding that the company has “great traction,” having hit $2 million in sales and reaching a deal with Kimberly-Clark Corp. For $500,000, Lubetzky gains 8% equity and 2% in advisory shares. “What a great example of avoiding false compromises and delivering multiple benefits to your consumer,” Lubetzky later tweeted.