Brenda Lee Feldman entered
Shark Tank InchBug Update
- Entrepreneur: Brenda Lee Feldman
- Business: Juice box holder
- Ask: $400,000 for 10% equity
- Result: No deal
- Shark: None
Adjustable to fit most juice boxes and pouches. Top locks in drink! BPA and Pthlalate-free. Made in USA. Fits most juice boxes and pouches, including small 4 oz. boxes and tall 8 oz. boxes.
Brenda offered samples of both her products to the sharks. Barbara Corcoran turned the holder upside down to show it still spilled from the top, but MyDrinky was designed to prevent squeezing.
The sharks immediately honed in on the huge success of the Orbit Labels. They focused their line of questioning on that because of the huge earnings it had. Lori Greiner checked if the ask was for the whole company, and Brenda confirmed it was.
Kevin O’Leary expressed that he didn’t think the MyDrinky would be anywhere as successful as the Orbit Labels. Brenda then stated that she wanted MyDrinky to go into retail, which stopped Kevin in his tracks immediately. Barbara also said that going into retail would make it a completely different business.
Kevin highlighted that the success of Brenda’s franchise relied on online sales. He repeated that he hated the idea of the product in retail, and thought she should continue focusing on labels. Brenda countered that by saying it would be a huge opportunity.
Lori said she could try it out, but if she got inventory stuck in a store that didn’t sell through it would end up being a big loss. Robert Herjavec pointed out that Brenda had $2 million in recurring revenue per year from the labels. The retail focus made him go out.
Mark Cuban also didn’t believe in the retail plan and went out. Barbara was put off by the complicated design of MyDrinky and believed the product had no future. She went out. Lori reiterated that Brenda should focus on her winning product.
Surprisingly, Kevin offered Brenda a deal. He put an offer on the table of $400,000 with a royalty of $1 per unit until he would get back three times his investment with no perpetuity but a 5% stake. He insisted that the offer would be conditional on the retail plan being dropped.
Brenda was not comfortable with that condition and refused the offer, leaving
Our InchBug update reveals that Brenda’s company has been thriving since her appearance on
The MyDrinky is currently being sold at $10.95 on the Inchbug website. Brenda has also launched Orbit Label 2.0 which improves on the original product and is making an estimated $5 million in annual sales.
When we get more news on an InchBug update we will be sure to let you know!
Do you want to know more about the other companies featured in Season 7 Episode 25? You can find our other company updates for the episode in the links below.
For even more on companies and products, stop by our Season 7 Products Page before you go!