BZBOX Update | Shark Tank Season 5
While conventional cardboard boxes are assembled one flap at a time, Kaeya Majmundar developed a box design that simply unfolds with a shake of the wrist. Will it earn her a deal on
Shark Tank BZBOX Update
- Entrepreneurs: Kaeya Majmundar
- Business: Quick-assembly boxes
- Ask: $50,000 in exchange for 20% equity
- Result: $50,000 in exchange for 40% equity
- Sharks: Lori Greiner
Kaeya brought her BZBOX quick-assembly boxes to the tank. She came up with her idea when she helped a friend move. After that experience, she decided to reimagine the long-unchanged box.
According to Kaeya, a conventional box cost about $1 per unit, while her similarly-sized box would cost about $1.75. Kaeya had different models of the box, including a plastic version with a Velcro closure. Patents were filed on the box design, and big box stores expressed interest in the concept. Kaeya said Lowe’s wanted to sell the boxes, but they couldn’t place any orders, as the boxes had not yet gone into production.
Robert Herjavec was out, as he didn’t see a need to improve on the standard box. Mark Cuban said that with no current purchase orders, he wasn’t sure the pricey boxes would sell, so he too was out. Barbara Corcoran didn’t like how Kaeya handled the Lowe’s situation, so she went out next.
Kevin O’Leary offered $50,000 in exchange for 50% equity, saying Kaeya’s job would be to figure out how to get the price down to $0.56 per unit. Kaeya turned to Lori Greiner and begged for an offer. When she told Lori that she was the partner for her, Kevin said she made a huge mistake and he withdrew his offer.
Luckily for Kaeya, Lori Greiner had an offer of $50,000 in exchange for 40% of her business, contingent upon whether they could figure out how to manufacture the plastic version as a storage box. Kaeya accepted, and BZBOX got a deal! What happened next? Keep reading our BZBOX update to find out!
Our business news sources tell us that the deal with Lori failed to get past the 12-month due diligence phase, leading us to assume Lori’s contingency wasn’t met. The company ultimately shut down however, Kaeya went on to found SwayPay, a highly successful platform that specializes in viral marketing. This will be our final BZBOX update.
Would you like to learn about the other companies featured on Season 5 Episode 29? Follow the links below for our other company updates from the episode.
For even more on companies and products, be sure to stop by our Season 5 Products Page!
Andrew Smith is the founder and owner of Shark Tank Recap. He is a longtime Shark Tank fan that has been watching it for years and has seen every episode multiple times. His friends know him as the Shark Tank expert, because he can answer any question about the show! His favorite Shark Tank products are Bertello's pizza oven and Bug Bite Thing!