Bouquet Bar Update | Shark Tank Season 9

Bouquet Bar is a unique online gifting platform that is looking for a deal on Shark Tank during Season 9. David Yusuf, Sal Aziz, and Alex Amidi came onto Shark Tank to represent their company and try to earn a $150,000 investment in exchange for 10% equity. Let’s see if they were lucky enough to secure a deal before we jump ahead and give you the Bouquet Bar update from the present day.

Shark Tank Bouquet Bar Update

Bouquet Bar Update

  • Entrepreneurs: David Yusuf, Sal Aziz, and Alex Amidi
  • Business: Online Gifting Platform
  • Ask: $150,000 for 10% equity
  • Result: $150,000 for 20% equity
  • Sharks: Mark Cuban

The online gifting platform that David, Sal, and Alex and pitching to the sharks is designed to make gifting more convenient and easier than ever before. Customers have the opportunity to pair great gifts with exceptional flowers without having to worry about packaging or shipping. Bouquet Bar allows customers to add gift notes, purchase gift boxes, and add flowers to the order without any difficulty at all.

The company had only been operating for about four months at the time of appearing on Shark Tank. The sharks wanted to know how many different gift box sizes could be purchased. The entrepreneurs told the sharks that there were different types of gift boxes with various ways to mix candy, candles, and other similar small gifts in the same order. Flowers were also an option in the larger gift box variety.

The smaller box variety costs about $20 to manufacture and can be sold to a customer at a price point of $50. Shipping costs are about $12 depending on the destination and size of the gift box. The margins on the larger gift boxes were similar.

The sharks started to have some concerns when they realized that the entrepreneurs had placed $600,000 of their own money into Bouquet Bar. They also realized that the company had yet to net a profit in the first four months due to sky-high customer acquisition costs. The average cost to acquire a customer was $60 for Bouquet Bar.

Four of the sharks dropped out quickly, but Mark Cuban was still interested. He decided to make an offer of $150,000 in exchange for 20% equity in the gift box company. The three entrepreneurs decided to accept Mark’s offer. Our current Bouquet Bar update is slightly disappointing, however, as the company ultimately went out of business in 2019. The entrepreneurs returned to their other previous work once the company was closed.

You can find the other company updates from Season 9 Episode 19 here:

Don’t forget to take a look at our Season 9 products page! We’ve got more company updates from Shark Tank Season 9.