Brothers Brian and Kevin Fleming have created an innovative product that turns a plastic bag into a bowl. Will they earn a deal on
Shark Tank BagBowl Update
- Entrepreneurs: Brian and Kevin Fleming
- Business: Exoskeletal form that turns a bag into a bowl
- Ask: $40,000 for 33% equity
- Result: $40,000 for 33% equity
- Shark: Lori Greiner
Brian and Kevin pitched the usefulness of their product, the BagBowl, as a solution for on-the-go eating, tailgate parties, making storing leftovers easier, and single-serve pet food bowls.
Ultimately revealed that they’d like to license the product to manufacturers and have it used in packaging across a wide market.
Kevin O’Leary had an issue with this plan, feeling that no manufacturer needed this device. In addition, he felt that the Fleming brothers’ assumption that the manufacturer would willingly accept the added cost was ludicrous.
The plot thickened when the sharks found out that, despite “great feedback” at an IHA Trade Show, no orders were taken and the BagBowl was a “pre-revenue start-up.”
Mark Cuban accused the Flemings of being “wantrepreneurs” who essentially wanted someone else to do all the work.
Brian, sensing Mark was working his way to going out, urged him to reconsider and addressed him as “Cubes.” This tactic backfired severely and Mark went out immediately. The hard lesson? Don’t call Mark Cuban “Cubes!”
Daymond John was next to leave the tank, unimpressed with the company. Kevin O’Leary followed, and said that the best products either solve a problem or reduce costs, and “this does neither.”
Robert Herjavec, on the other hand, saw potential and said it was reminiscent of the juice box, which revolutionized how juices are packaged. Robert offered $40,000 for 45% equity.
At this point, Lori Greiner asked if she could come up and try the BagBowl herself to confirm that it was nifty and easy to use.
She did indeed confirm it was easy to use. With this in mind, she echoed Robert’s sentiment, stating that she could see the product selling, and offered the Flemings exactly what they asked for– $40,000 for 33% equity.
Foolishly, they asked for a minute in the hallway to discuss. The sharks were astounded, as they had just been offered exactly what they asked for and had the audacity to ask to think it over.
In response, Lori said she would pull her offer if they left the room. Recognizing their mistake, the Flemings apologized and accepted Lori’s offer.
They were almost bowled over by their foolishness, but they did get the deal. How did things go from there? Keep reading our BagBowl update to find out!
Immediately following the deal, BagBowl was out of stock for two months due to production difficulties. Once it did hit the market, sales were tepid, so they released an additional product, the Daddio Spill Stopper Training Cup.
Sadly, during our BagBowl update research we found that the company went out of business in 2018.
At the time of writing, Brian Fleming has moved on to a career in real estate, while Kevin Fleming works in cloud computing. This will be our final BagBowl update.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!