The very first entrepreneurs of
Shark Tank Blueland Update
- Entrepreneur: Sarah Paiji Yoo and Syed Naqvi
- Business: Revolutionary eco-friendly cleaning products
- Ask: $270,000 for 2% equity
- Result: $270,000 for 3% equity and a $0.50 royalty per kit until his money is earned back
- Shark: Kevin O’Leary
Blueland was founded by Sarah Paiji Yoo in 2019 after she became a mom and discovered just how many microplastics were in our food and water supply. Sarah wanted to tackle plastic waste for her baby and the environment, so she invented Blueland’s Forever Bottles and a new take on eco-friendly product refills in the form of dissolvable tablets.
Blueland has hand soap and various home cleaning products, with tablets for each that dissolve in water. The tablet refills come in compostable and recyclable packaging, so there is truly zero plastic waste in these products. Initially, the sharks were not all that impressed by Sarah and Syed’s pitch but eventually got on board.
As of their episode, Blueland had made $200,000 in sales in just one month, a number that greatly impressed the sharks. After allowing the sharks to test the products, guest shark Daniel Lubetzky (founder of KIND Snacks) and Lori Griener proposed an offer of $1 million for a 25% equity in Blueland, and Kevin O’Leary offered $270,000 for 6% equity of the company.
Lori and Daniel quickly came back with $270,000 for 8%, and after further negotiations, Sarah and Syed accepted Kevin’s offer of $270,000 for 3% of Blueland and $0.50 in royalties per kit sold until he makes his money back. With a deal secured, we’ve got a very promising Blueland update.
In the years since their initial episode, Blueland’s business has boomed and grown to include multiple other cleaning products, a collaboration with eco-friendly fashion brand Reformation, and an endorsement from Kim Kardashian.
In Season 12 Episode 4, the founders came back virtually for a quick update, where they revealed that one week after their episode in Season 11, Kevin brought them onto QVC, where Blueland gained even more exposure and gained $250,000 in sales from just that one spot on QVC.
Since 2019, Blueland has made $15 million in sales, which have increased exponentially during the pandemic. As of the time of writing, Blueland is entirely sold online, as Sarah and Syed want to hold off on making deals with retail locations until the pandemic is more under control. With $15 million in sales in two years of exclusively selling online, the company is thriving and will continue to do so. But where will they go from here? We’ll be sure to have another Blueland update when we hear more about the company’s success.
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