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
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. The mat has over 1,600 reviews on Amazon and has a variety of toys, rattlers, and teethers that can be added on. It’ll be interesting to see what happens to Busy Baby Mat in the coming months, and we’ll be sure to keep you updated!
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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