What is NootroBox’s net worth?
Introduction
NootroBox (now known as HVMN) jumped on the world scene in 2016 when it was basically laughed out of the hit show Shark Tank.
It was excused away as coffee-flavored sugar cubes that might create serious health risks long term.
This didn’t stop CEO Geoff Woo from taking his product to the next level.
NootroBox – Net Worth
At the time of Shark Tank, Nootrobox was self-valued at $40m.
This doesn’t necessarily indicate a real-life estimated net worth, as startups will typically overvalue themselves in order to seem like a greater investment.
However, HVMN reportedly had a monthly subscription revenue of $5 million in 2016.
Therefore, NootroBox has an estimated net worth of $50 million.
As they continue to offer more products and get more contracts, their sales will only continue to rise.
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The Origin Story
NootroBox was started in 2014 as a way for consumers to enhance their brain capabilities without having any of the jitters.
Michael Brandt and Geoff Woo, cofounders of Nootrobox – @Getty
It was packaged as a small coffee-flavored gummy packed with caffeine to improve mental acuity.
Angel Investors in Silicon Valley saw NootroBox’s potential and immediately jumped on the opportunity to be an early adopter.
They invested $500k into the company and watched it start to take off.
Geoff was really excited about the company’s initial launch and partnered with 7/11 in San Francisco to get the product directly to the people.
This was an immediate hit, and NootroBox started gaining some steam.
In 2016, Geoff decided the NootroBox needed a boost and signed up to be contestants on the popular TV show Shark Tank.
They brought NootroBox on the show expecting the sharks to have an immediate interest in their product.
They were wrong.
One shark immediately dismissed it as a joke, suggesting that bringing a fancy sugar cube in there in an attempt to raised funds for it was laughable.
There was one shark that showed some interest, but without the product being tested long-term, he couldn’t bring himself to slap his name on it.
He suggested that there could be long-term health risks that they were unaware of.
Another element that caused NootroBox to be a Shark Tank loser was what Geoff was asking for versus the company valuation.
The first red flag was that the company was already self-valued at $40m.
This didn’t please the sharks, calling it “the highest valued company to ever be on the show.”
The next blow was what Geoff was asking for.
He was asking the sharks for an investment of over $2m for five percent of the company.
The sharks laughed him off the show, noting that their investment would be greater than the five percent they would receive from the company they already perceived to be over-valued.
This didn’t deter NootroBox CEO Geoff, saying, “I think our community, the biohacking community, and the products just totally went over the heads of the other sharks on the show.” Geoff went on to say: ”And I think they’re just of a different generation, a different segment of humanity.”
His sentiments would prove to be correct.
After Shark Tank, Geoff wanted to take a different approach to NootroBox and change the focus to a more human element.
In 2017, NootroBox was rebranded to HVMN.
The rebrand came after clinical studies were done on their caffeine gummies and found that it had less of an impact than coffee.
Sprint and Rise, cognitive supplements produced by Nootrobox – @Getty
Geoff, not wanting to damage the company’s reputation, changed the name to Human Via Modern Nutrition (HVMN).
HVMN, pronounced human, then sponsored cyclist Vittoria Bussi who broke cycling records after training using HVMN’s ketone supplements.
This success story was precisely what NootroBox needed to really become a leader in the energy community.
Investors began to flock to the brand as Geoff worked directly with scientists and got FDA approval for his products for distribution.
One investor, Andreessen Horowitz, went ahead and invested in the Shark Tank asking amount.
Andreessen is known for investing in underdog startups that have the potential to shake up the world.
He was one of the first to invest in Twitter, Skype, and Roblox, among many other extremely popular names today that earned him a lot of money.
NootroBox, now HVMN, was no exception.
The company’s net worth was skyrocketing as it began to come out with and sell more products.
These products are not limited to chewable energy gummies either.
HVMN has evolved to become a full line of dietary and energy products for weight loss and exercise.
They offer a variety of products like keto drinks, collagen powders, keto bars, and a handful of other supplements.
Now, their website even offers bundles and subscription services so that consumers will never run out of their favorite dietary supplement.
HVMN has come a long way from being the “sugar cube” that was laughed off Shark Tank.
One thing that HVMN CEO wants new companies to know if they get a chance to be on Shark Tank is that “If you do go on the show, don’t be afraid to be yourself.”
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The Future
As HVMN continues to create more biohacking products, it will continue to grow.
Every year they are coming out with new products to expand their brand, including different Keto-friendly snacks.
As these snacks come out, their brand continues to expand, and more people become aware of HVMN.
It is guessed that biohacking supplements and snacks will start to boom in late 2021 and become a leader in dietary supplements and energy.
Biohacking is the next leader in the health and energy world.
It is even sought out by military leaders to enhance soldiers’ performance by giving them greater mental acuity.
The biohacking world is just getting started.
FAQ
Who are the founders of HVMN?
Geoffrey Woo and Michael Brandt.
What is Nootrobox worth?
The company has a net worth of $50 million.
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As the owner of FamousPeopleToday.com and managing editor, Bulgarea Candin Stefan leads the way in creating informative and insightful content on celebrity net worths. His professional, authoritative voice shines through every article, providing readers with valuable, unique information.