Bottle feeding your baby comes with its share of challenges. Entrepreneur Martin Hill sought to change that. In the first episode of
Shark Tank Beebo Update
- Entrepreneur: Martin Hill
- Business: Hands-free bottle feeding device
- Ask: $200,000 for 20% equity
- Result: $200,000 for 30% equity
- Shark: Lori Greiner and Ashton Kutcher
Entrepreneur Martin Hill’s pitch was relatively simple, but showed off the genius of his product. Martin often had trouble getting his children to take a bottle, and his son was more comfortable when Martin was reading to him. To solve this problem, he devised a hands-free feeding mechanism right in his garage.
Hassle-free Feeding, Solution for Every Parent: Our feeding bottle holder is ideal for all parents who bottle feed. It provides an extra hand, giving you more freedom while bottle feeding the baby, thus enhancing your family time. With Beebo, you are now free to caress your baby, read a book or even enjoy family meals together.
The Beebo cost about $10.86 to make, and retailed for $39.95 at the time of filming. Though the Beebo wasn’t in any retail establishments yet (and was mostly selling online and on Amazon), the company was getting inquiries from big box retailers frequently.
Since February in the year of filming, The Beebo had $20,000 in sales. Martin said he needed the $200,000 for a brand refresh – the sharks agreed that this is necessary, as the packaging needed work. By the end of the year, Beebo projected about 18,000 units in sales.
Kevin O’Leary liked the product, and said that he often searched for similar solutions when his children were babies. He offered Martin $200,000 for 33.5% of the company.
Robert Herjavec, on the other hand, didn’t understand the pain point. Though he liked that Martin was all in (with $180,000 of his own money invested), he went out because feeding his children wasn’t an issue for him. Mark Cuban followed, stating that he never thought of bottle-feeding problems as something that needed to be solved.
Guest shark Ashton Kutcher went out, too. He liked feeding his baby, but his expertise is in marketing rather than manufacturing. This is where Lori Greiner stepped in. Lori offered $200,000 for 20% equity, but asked Ashton to come in with her. Lori could work out the manufacturing, while Ashton was good with the marketing side of things. Ashton agreed, and Martin took the deal. Find out where the company is now in our Beebo update!
Our Beebo update research showed that the company is thriving, but the deal with Ashton and Lori fell through. Regardless, a corporate holding family named Better Family acquired the company in March of 2021. This company has many other baby products, and does about $5 million per year across all of the brands they represent.
Curious about the other products from Season 7 Episode 1? Don’t forget to check out our other company updates here:
For more on products and companies, stop by our Season 7 products page.
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!