Saturday, 17 September 2016

InchBug Declines $400,000 Royalty Deal From Kevin O’Leary On Shark Tank

inchbug


Stepping into the Shark Tank, mompreneur and inventor Brenda Lee Feldman from Austin, Texas, offered 10 percent of her company for $400,000. Her product stops kids from squeezing their juice boxes.


Kevin O’Leary said she was the real deal. Kevin said the labels are where it is at. Kevin did not like that Feldman wanted to work in retail.


Lori Greiner said that if it doesn’t work in retail then Feldman is stuck with a lot of product. Robert Herjavec was out because retail is too hard. Mark Cuban said that retail does not play to what makes her product different and better. Barbara did not like how Feldman made the juice box much more complicated than what it should be.


Lori said if it ain’t broke don’t fix it so she was out.


As promising as her products and company are, the only shark to make an offer was Kevin. He offered $400,000 for a royalty deal in which he would get back three times his investment and 5 percent equity in her company. Barbara criticized the bid as greedy. Feldman declined the offer and became officially dead to Kevin.


What did you think of the sales pitch? Did you like the product? Sound off below in the comments section.





InchBug® makes innovative children’s products that parents trust. Their line of products began with the invention of Orbit Labels. These are widely used for personalizing baby bottles and sippy cups to aid in preventing bottle mix-ups and minimizing germs. Their latest creation, MyDrinky is a two-piece adjustable juice box holder that helps stop the accidental juice box squeeze.


InchBug is a company founded in 2004 by parents who had a revolutionary idea for a product that would make parents’ lives simpler. InchBug’s initial product, BumpyName – The Original Orbit Label® was introduced in 2005 and is now the preferred method for labeling drink containers. Orbit Labels have been featured in national parenting magazines and received numerous awards and accolades for innovation and practicality.


Learn more about the product at http://www.inchbug.com/


Shark Tank Social Media Reactions




























The Sharks are: billionaire Mark Cuban, owner and chairman of AXS TV and outspoken owner of the 2011 NBA championship Dallas Mavericks; real estate mogul Barbara Corcoran; “Queen of QVC” Lori Greiner; technology innovator Robert Herjavec; fashion and branding expert Daymond John; and venture capitalist Kevin O’Leary.


The entrepreneurs who dare to enter the Tank must try to convince the Sharks to part with their own hard-earned cash and give them the funding they desperately need to turn their dreams into million dollar realities. All of the good, bad, emotional and even absurd pitches help showcase the “I wish Ihad thought of that” business ideas and products.


Photo Credit: Source



Source: B2C
Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)