CordaRoy’s Convertible Bean Bag Update | Season 4

Byron Young created a  super comfy bean bag chair that turns into a bed. Will it earn him a deal on Shark Tank Season 4? Find out in our CordaRoy’s update!

Shark Tank CordaRoy’s Update

CordaRoy's Update

  • Entrepreneur: Byron Young
  • Business: Bean bag chair that turns into a bed
  • Ask: $200,000 for 20% equity
  • Result: $200,000 for 58% equity
  • Shark: Lori Greiner

Byron brought his company and product, CordaRoy’s, to the tank. His bean bag chair also turns into a bed. Lori Greiner asked if she could test it out, and confirmed that it was indeed very comfortable.

CordaRoy's Chenille Bean Bag Chair, Convertible Chair Folds from Bean Bag to Bed, As Seen on Shark Tank, Charcoal - Full Size

CONVERTIBLE CHAIR: Giant foam chair converts to a full-size bed for guests, slumber parties, or just relaxing. Better than a bean bag, no beans about it!

We earn a commission if you make a purchase, at no additional cost to you.

Kevin O’Leary was unconcerned, more interested in what Byron could share regarding the $1 million valuation and his sales. Byron unflinchingly answered that CordaRoy’s both was worth the $1 million as indicated by his offer’s valuation, and that they collected $200,000 profit in the previous year’s sales.

Kevin was pleasantly surprised, and continued asking more cash-related questions. Byron shared that he had grossed $1.4 million in sales, but he personally was disappointed because the infrastructure was meant for a $5 million business. In his own opinion, his business was underperforming.

Daymond John asked for details regarding where products were sold. Byron said he sold out of his own retail store at the Mall of America, and had a run on QVC.

Robert Herjavec asked Byron how long he’d been selling CordaRoy’s. Byron answered he had been at it for eleven long years. Kevin questioned why then he would not sell his product in big furniture stores, and Byron said he felt the product needed to be demonstrated in order to sell.

Byron said he was there in the tank to not only get capital but to secure a strategic partnership with a shark. Daymond took this as his cue to leave, and he was out. Mark Cuban spoke next, and said he didn’t feel he could help scale it further, so he was out.

Kevin returned to the valuation, and because he didn’t agree with it, he was also out. This left two sharks – Robert and Lori. Robert said that he felt Lori was the right partner for Byron, but he wanted to be involved too. For that reason, Robert decided to make an offer. He would put up half of the $200,000 in exchange for 40% equity, but Byron would first need to convince Lori to come aboard.

Lori responded that she said she didn’t want a partner, so she offered the $200,000 in exchange for 60% equity. Robert dismissed her deal as greedy, and went out. Byron asked if Lori could do any better than 60% equity. In response, she dropped to 58%, but said she was sticking to it. Byron then asked if she would do 51%, but she said no.

After mulling it over, Byron accepted her deal. What happened next? Keep reading our CordaRoy’s update to find out!

We have great news to share in our CordaRoy’s update! When the episode aired, the viewer traffic to the CordaRoy’s site crashed the server for two days! Sales soared, reaching over $3 million in gross annual revenue by 2014, and continuing to climb. Lori and Byron successfully landed the product in retailers across the United States, Amazon, and Costco, making it widely available everywhere. By 2018, CordaRoy’s hit $10 million in lifetime sales. As of 2023, CordaRoy’s remains in business and grosses an estimated $5 million annually.

Would you like to learn about the other companies featured on Season 4 Episode 19? Follow the links below!

For even more on companies and products, be sure to stop by our Season 4 Products Page!

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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!