Busy Baby Mat Update | Shark Tank Season 12
Busy Baby Mat appeared on
Shark Tank Busy Baby Mat Update
- Entrepreneur: Beth Fynbo
- Business: Silicone placemat for babies
- Ask: $250,000 for 5% equity
- Result: No Deal
- Shark: None
Beth Fynbo pitched her company, Busy Baby Mat, to the sharks on
PRACTICAL FOR YOU AND SAFE FOR YOUR KIDS: All Busy Baby products are made from 100% food-grade silicone that is free from BPA, BPS, PVC, Phthalates and lead. All Busy Baby products meet CPSC Safety Requirements. Dishwasher safe or clean with soap and water
In addition, Beth shared that she currently has two patents for her product that will hopefully prevent it from being knocked off. At the time of the pitch, a mat retailed for $24.99 and cost only $6 to manufacture.
This has resulted in $343,000 in sales by mid-2020, with expectations to finish the year at $900,000. Even better, the company will make nearly $200,000 in profit off the $900,000.
As you can imagine, this was enough to interest Lori Greiner, who offered Beth $250,000 for 20% equity. After a bit of negotiating, Lori dropped her equity ask to 18%, but Beth was not willing to give up more than 15% of her company. So Busy Baby Mat left the tank without a deal.
Despite not landing a deal, Beth’s company was already profitable by the time it appeared on the tank. In terms of a Busy Baby Mat update, the company is still up and running and seems to be doing quite well.
While chatting with Beth about a Busy Baby Mat update, she told us that they’ve added tons of new products to their line, including a Teether and Training Spoon, a mini version of the mat, bungees that hold toys and bottles both with the mat and on their own, and a toddler version of the mat.
Beth said that they’ve had multiple offers to buy the company but are enjoying the journey and would like to continue growing it. They’ve moved from her basement to a 7,000-square-foot warehouse and have been able to donate $37,000 to Feed My Starving Children!
To buy a mat or learn more, be sure to check out the Busy Baby Mat website.
In the meantime, be sure to check out some of our other updates from the companies featured on Season 12 Episode 16.
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