Angel Shave Club: What Happened To The Brand After Shark Tank?

When it comes to ABC's hit entrepreneurial reality show "Shark Tank," a couple of unspoken rules seem to make or break a company's likelihood of securing an investment from one of the titular Sharks. First, be open-minded and willing to negotiate, as founders of brands like FashionTap refusing to budge on their initial valuations have historically left the tank empty-handed. Secondly, take the time to do your research, as failing to be familiar with the industry you're attempting to dominate isn't a good look.

When the founders of Angel Shave Club appeared in Season 10, Episode 11, they were certainly knowledgeable on the ins and outs of their own business. However, they openly struggled to understand their competitors, and it ultimately cost them their chance at an investment. Was that the end of Angel Shave Club, though, or has the company gone on to succeed — and prove the Sharks wrong?

Iskra Tsenkova and husband Brian Archambo approached the Sharks with a subscription razor service aimed at women. They asked the Sharks for an investment of $300,000 in return for 10% equity in the company. Determined to fight the "pink tax" — which the duo claimed adds 13% to the price of women's razors in comparison to men's — Tsenkova and Archambo launched a service that would provide subscribers with a "feminine" razor handle and blades, followed by a refill of razor blades every two or four months. The Sharks appeared perplexed as to how the founders planned to compete when much larger subscription razor companies inevitably started marketing toward women. Tsenkova admitted to having no knowledge of the competition Angel Shave Club would face. She insisted that their razors were superior but provided no hard facts to prove it. 

Even the company's 9,000 customers and $390,000 in sales weren't enough to get a Shark to bite once the founders admitted that most of those customers only stayed with the company for six or fewer billing cycles, as well as profit margins being quite low. Despite Archambo's assurances that a pause feature was in development to prevent subscribers from canceling after they acquired a stockpile of razor blades, the Sharks rapidly dropped out, though Kevin O'Leary took a moment to explain why they weren't worth their proposed valuation. His words of wisdom? "You don't make any money." 

After failing to convince any of the Sharks to invest in their company, the Angel Shave Club founders insisted that the business would still succeed with its plan to sell razors, shaving cream, and other shaving products for women. Upon exiting the tank, Iskra Tsenkova told viewers that the Sharks' refusal to invest was "their loss" and that she and her husband were "going to kill this market." The episode aired on January 20, 2019, and in March of the same year, venture capital fund Quake Capital announced that it had selected Angel Shave Club for its business accelerator program, which came with a $200,000 investment.

Quake Capital managing partner Anthony Kelani seemed especially confident in the brand and its CEO. "Iskra is an amazing founder," he said in a March 28, 2019, press release, "and Angel Shave Club has achieved some very impressive traction. We love working with founders like Iskra, who are creating products and services that address real world problems that have been overlooked" (via Insider). Despite its failure to snag a Shark, the company's future seemed quite bright, but things unfortunately didn't go according to plan.

Despite the sizeable investment made by Quake Capital, the Sharks appear to have been right about the outlook for Angel Shave Club. By the end of September 2019 — just five months after securing their deal — the brand had completely stopped posting on Twitter. Then, in May 2020, the company officially closed its doors. 

The following message was posted and remains on the homepage of the brand's website, with the site not containing its previous pages or products: "Dear Loyal Angel Shave Club Community, I don't have great news, after 3 years since we launched, we will unfortunately be shutting down our services on due to COVID-19. It is not a happy moment for us, but know we did everything we could to keep Angel Shave Club a thriving shave brand." Still, the founders are proud of the venture they grew, with their goodbye message ending on a high note: "We are glad that we always had a great and supportive community that shared our love and passion for shaving."

Unfortunately, it appears that Angel Shave Club's financial struggles may have extended to its founders. According to Southern California's UniCourt website, Iskra Tsenkova and Brian Archambo were involved in a Chapter 7 bankruptcy case in March 2020, which aligns with the beginning of the COVID-19 pandemic and, thus, the issues cited in the founders' closing message.

The wild ups and downs of Angel Shave Club don't appear to have soured Iskra Tsenkova on the idea of self-employment or business ownership. According to her LinkedIn profile, she now offers services as a reiki master, energy therapist, wellness coach, and yoga instructor. She lists herself as the former CEO of Angel Shave Club, claiming to have grown the business "from zero to revenue of $1,200,000 in three years" and mentions the brand's appearance on "Shark Tank."

Tsenkova's new business venture — SEA (Sacred Energy Activation) — offers her "incredible ability to channel divine energy" as a "channel for light code" to "provide lasting, life-transformative relief for her clients." On the company's website, she delves deeper into her certifications as a reiki master, a KALI energy therapist, a holistic nutrition coach, a plant-based nutrition specialist, and a power Vinyasa yoga instructor. The former CEO offers Access Bars pressure point sessions, KALI energy therapy sessions, reiki sessions, solo and group Vinyasa yoga workshops, and "nutrition and lifestyle" consultations online and in person.