Another Shark Tank episode, another great investment by Showpo CEO Jane Lu. This time the businesswoman invested in a modern cloth nappy called Mimi & Co and has shared that she even uses it on her daughter Rosie.
Mimi & Co produce eco-friendly nappies in stylish prints that can be used by newborn babies all the way through until they’re potty trained.
Lu took to Instagram to promote the product and explain why she invested in it.
“Did you know the average baby goes through 6000 – 7000 nappies until they’re potty trained?” She began. “Not only is that so much waste created, but it’s also so much money!”
“So that’s why for my latest Shark Tank investment I’ve invested in Mimi & Co! Mimi & Co is the world’s first one-size-fits-more nappy. It fits a baby from 2.5kg to 20kg to potty training.”
“How? Look at all the buttons. Regular cloth nappies just aren’t as adjustable,” she explained.
Lu then shared a sweet clip of her daughter wearing the nappy.
“Rosie clearly loves it, I love it, and you should check out Mimi and Co for yourself,” she said.
How much did Jane Lu invest in Mimi & Co?
Mimi & Co’s founder Aami entered the Shark Tank hoping for $100,000 for a 10% equity in her company. While she did get a deal from the Sharks, as always, they opted for additional ownership.
Aami came to an agreement with Lu and Davie Fogarty to come on board for 30% equity in exchange for a $100,000 investment.
How much do Mimi & Co nappies cost?
The website currently has a ‘Shark Tank Exclusive’ offer that includes a bundle of three gender-neutral designed nappies for $99.
There are also individual nappies for purchase, and their prices range from $12 to $53.
As well as various nappies, Mimi & Co also sell baby accessories including wet bags, travel change mats and backpacks.
Shark Tank continues on Tuesdays and Wednesdays at 7.30 pm on 10 and 10Play.
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