Nick and Anthony Pucci came onto
Shark Tank Cubicall Update
- Entrepreneurs: Nick Pucci and Anthony Pucci
- Business: Office Design
- Ask: $350,000 for 10% equity
- Result: $350,000 for 25% equity
- Sharks: Barbara Corcoran
The modular office design booths were certainly intriguing for the sharks to inspect and see in person. Nick and Anthony explained how they can design office booths in different sizes, colors, and variations. While all of this was very interesting and exciting for the sharks to learn about, it didn’t prove that Cubicall’s finances were in order.
The small office booth variation sells for just under $7,000 and costs about $4,200 to manufacture. The double-sized larger variety office booth costs about $12,000 and to build it costs about $7,200. With less than satisfactory margins and high manufacturing costs, the sharks began to wonder if this was the right investment for them. Nick and Anthony told the sharks that the company’s last 12 months in sales before the
Due to market competition and the risks of making an investment, several of the sharks dropped out. Mark Cuban, Lori Greiner, and Robert Herjavec all dropped out of negotiations for these reasons. Kevin O’Leary crafted up one of his famous royalty deals and decided to offer $350,000 for 10% equity. In addition to the equity, Kevin wanted a $50 royalty in perpetuity. The other remaining shark was Barbara Corcoran, she made a simple offer of $350,000 for 25% equity.
Nick and Anthony ultimately decided to accept Barbara’s offer after strongly considering it for a while. Now it’s time to get a Cubicall update to see how the company’s been doing since partnering with Barbara.
It’s unfortunately been a struggle for the business, especially during the COVID-19 pandemic. The company ultimately relocated to Nevada and has struggled to generate more than $1 million in sales per year. They do, however, still have an active website. So perhaps we will have a more promising Cubicall update in the future!
You can find the other company updates from Season 10 Episode 22 here:
Don’t forget to take a look at our Season 10 products page! We’ve got more company updates from