dbest Products Portable Carts Update | Shark Tank Season 8

Richard Elden realized that people needed a more practical way to carry heavy items after California’s plastic bag ban, so he created dBest Products—a line of foldable carts that make hauling everything from groceries to heavy-duty materials a breeze. His popular Smart Cart is not only lightweight but can carry up to 110 pounds and folds down to just two inches for easy storage. Let’s jump into our dBest Products update and pitch recap to find out which of the sharks was interested in a deal.

If you’re short on time, here’s a quick overview of what happened to dBest Products after Shark Tank.

Richard entered Shark Tank Season 8, seeking $350,00 for 5% equity in his innovative portable laundry and shopping carts. Ultimately, he reached an agreement for a deal with Lori Greiner and Mark Cuban for $350,000 for 20% equity + a $2 million line of credit.

In terms of a dBest Products update, the company expanded its product line by over 300% and added more warehouses. dBest Products has grown to an annual revenue between $15 million and $20 million and now sells its products through major retailers.

Shark	Result
Mark Cuban and Lori Greiner	Accepted offer of $350,000 for 20% + $2 million line of credit
Kevin O’Leary	$350,000 line of credit at 18% interest for 5% equity
Daymond John	$350,000 for 15% equity
Robert Herjavec	No offer

Shark Tank dbest Products Pitch

• Entrepreneur: Richard Elden
• Business: Innovative portable laundry and shopping carts
• Ask: $350,00 for 5% equity
• Result: $350,000 for 20% + $2 million line of credit
• Sharks: Lori Greiner and Mark Cuban

Richard has a mission to make it easy for people to haul heavy items.

His products were already a hit, being sold in several retail stores, with sales projected to hit $8 million that year.

But despite the success, Richard struggled with cash flow issues.

He couldn’t keep up with demand because he didn’t have the funds to finance new orders, so he turned to the sharks for help.

dBest Products solves a common problem for shoppers, travelers, and anyone who needs to transport heavy loads.

The carts are lightweight, foldable, and designed for easy storage.

He had made $5 million in sales that year, with a projection of $7-$8 million for the following year.

The sharks were impressed but wanted to know why he needed their help.

Richard explained that, despite the strong sales, he didn’t have the cash to fill all his orders.

He also shared that he had a $3 million order from QVC.

Daymond John jumped in first, offering $350,000 for 15% equity, along with a commitment to fund future orders.

Kevin O’Leary followed with a $350,000 line of credit at 18% interest for 5% equity.

Lori Greiner liked what she saw and made a similar offer to Daymond’s, asking for 15% equity.

Then, Mark Cuban teamed up with Lori, offering $350,000 for 20% equity and a $2 million line of credit.

Richard initially countered with $700,000 for 10% equity, but after some negotiations, he accepted Mark and Lori’s original offer.

Want to know how the company is doing now? Stay tuned for our dBest Products update.

Shark Tank dbest Products Update

Our dBest Products update found that the deal with Mark Cuban and Lori Greiner didn’t go through.

However, undeterred, Richard pushed forward, and by 2017, he added eight more warehouses and grew the product line by over 300%.

In an interview with Shark Tank Recap, Richard proudly shared, “We’re now the #1 cart company in America with the top-selling Trolley Dolly, Quick Carts, and Cooler Smart Carts, and we’re just getting started.”

By July 2022, dBest Products was thriving, pulling in between $8 million and $10 million annually.

Their products were sold in major retailers like Bed Bath & Beyond, Target, Walmart, Amazon, Staples, and PetCo.

Further, the company continued to innovate, rolling out new cart models and accessories, and many of its items regularly sold out.

On Amazon, the Smart Cart had a 4.5-star rating with over 2,000 reviews, and even Forbes praised the brand’s innovation.

At the time of writing our dBest Products update research, the company is continuing to grow, with the Trolley Dolly still a best-seller and millions of units sold globally.

Further, the company is continuing to expand and ramp up its online presence through Amazon and other platforms.

Our dBest Products update found that the company’s annual revenue has grown between $15 million and $20 million.

Despite a failed deal with the sharks, we’re calling this dBest Products update a success.

Catch up with other company updates from Shark Tank Season 8 Episode 15 below:

• The Kooler Update
• Little Nomad Update
• RinseKit Update

Before you go, check out our Shark Tank Season 8 page for more updates.