Lisa, along with her Nicepipes concept, premiered on the reality show, Shark Tank, season 8 episode 13. The motive of the businesswoman was to help the yogis by inventing sweat-wicking leg and arm coverings that would not fall when exercising.
Five Sharks had doubled the company’s valuation. However, she managed to tame the Sharks, but unfortunately, the deal fell through. What exactly happened on the pitch? Follow the article to learn about the owner and her business strategy.
Quick Facts
| Founders name: | Lisa Binderow |
| Business details: | Warmers for arms and legs |
| Founded in: | 2014 |
| Location : | New York, USA |
| Asking of Company: | $100,000 for 10% equity |
| Accepted Deals: | No Deal |
| Shark on board (Investors): | None |
| Shark Tank Episode: | Season 08 Episode 11 |
| Net Worth: | $5 million |
| Business Status: | Active |
| Last Updated: | Mar 14, 2024 |
| Social Media | Facebook |
About the Founder
Lisa Binderow, who serves as the firm’s creator and is also the proprietor of Nicepipes.
She worked as an administrator and yoga instructor at Yoga Works before appearing on the show.
During a brisk morning yoga session, Lisa conceived the concept for Nicepipes. She did not want to practice wearing the thick woolen outfit. From this, the idea popped up and she constructed Nicepipes from a soft, flexible material similar to the fabric used to make yoga pants.
Founding the Nicepipes
People who practice yoga or similar strenuous activities often wear fashionable leg and arm coverings called Nicepipes.
It is constructed of soft, sweat-wicking fabric similar to the yoga trousers. Nicepipes is available in different colors and is UV-protective, according to the manufacturer.
To stay comfortable throughout the cold, consumers may wear Nicepipes clothing before and after their yoga or gym session.
Shark Tank Appearance
Lisa entered the Shark Tank and requested $100,000 for a 10% ownership part of her business.
Binderow had merely sold $80,000 amount of her product during that moment, knowing this Robert Herjavec and Mark Cuban became a bit dubious about it. The training clothes did not stand out, according to Kevin. On the other hand, Lora appreciated the idea behind Nicepipes, however, she was not willing to get involved in it.
The only Shark Barbara proposed $100,000 capital for a 40% ownership stake, to which Lisa counteroffers by 25%. However, later the two did not agree with each other and Lisa departed from the Tank without a deal.
Lisa discussed her awareness in one of her blogs that she created Nicepipes for the sake of helping others and solving the problem of woolen yoga pants. She was against popularity and fame. Lisa understood that if she joined hands with the sharks and their deal because she could not go against her words problems would arise.
Even though Lisa’s contract on Shark Tank failed, she continues to sell Nicepipes exercise clothing on her website and via Amazon.
After Shark Tank
Lisa valued the company at $1 million during her Shark Tank episode, even though she only had $80,000 in total assets at that moment.
According to the Shark Tank website, as a May 2021 update, Binderow retained his position as the president and CEO of Nicepipes. During this period, the organization’s estimated yearly sales were $4 million.
Even now, Lisa continues to offer her clothing, and according to websites like Owler, the business is valued at a projected worth of $5 million.