What Happened BevBoy After the Shark Tank Pitch?
What is BevBoy?
BevBoy was a floating beverage koozie. The BevBoy was a two-part gadget that comprised a regular foam can koozie to keep your beverage chilled and a weighted polypropylene anchor to balance the beverage’s weight and keep your drink upright while floating.
The BevBoy has cutting-edge technology that allows your beverage of choice to float in water without tipping over or spilling.
Consider reclining in a pool and having to hold your drink uncomfortable the entire time in order not to spill it.
Who is the Founder of BevBoy?
Kevin Waltermire founded the firm.
Before presenting the BevBoy concept to the Sharks, he attended the College of Charleston and participated in their One-Year Global MBA Program.
During that session, Kevin made a Shark Tank-style pitch to local businesses in exchange for feedback on his presentation and business ideas. That exchange, however, he did not win.
The Beverage Boy is a Superhero Otter with the ability to exactly float any beverage on top of the water.
The Superhero Otter began with a conventional foam cooler that contained all 12 ounce sized cans in order to deliver these astonishing superhero floating cans and cups to market.
He then utilized his Otter method to float on water to make a one-of-a-kind polypropylene arm that stretched beneath the surface.
Beverage Boy can float on water just as well as any Otter, as proved by this extended arm with a counterweight on the bottom.
Within five months of the Bev Boy Floating Beverage Cooler’s creation.
Waltermire has only been in business since July of 2013, so he doesn’t have a lot of clout.
What Happened to BevBoy at the Shark Tank Pitch?
After stepping out onto the stage, the two guys entered the Shark Tank. One of them was dressed as if he was going to the beach and was serving as a live demonstration for the goods.
He undressed and went into a Kiddie swimming pool placed up on stage, as the Sharks looked on in terror.
Kevin approached Shark Tank with a $50,000 offer in return for a 15% stake in his business. This works out to $333,333.33.
The Sharks cry, “Stop the commotion!” after the hot tub model drops her drink. After that, the model adds and shows a Beverage Boy.
Kevin W., Mr. He handed out the samples and explained how the product worked.
He claims to have sold 2,500 pieces, earning roughly $10,500 in the preceding six months, and that the product is accessible in a variety of locations.
They cost around $2 to produce, $5 to sell wholesale, and $9.99 to sell retail.
The Sharks, on the other hand, were perplexed as to why such a concept hadn’t taken off sooner. Kevin confesses to making errors, such as failing to bring order forms to trade shows.
Mark Cuban’s career came to an end at that point. “I’m done with anyone who refuses to take order forms to trade shows.”
Kevin O’Leary, who had previously referred to the previous entrepreneurs in the tank as “colourful bugs,” referred to the Beverage Boy as “poo-poo on a stick.”
He went on to say that because the product was so bad, the creator no longer deserved to be acknowledged by his first name: “You are no longer known as Kevin. “You are now known as Zonk.” Kevin, needless to say, was unavailable.
Robert Herjavec was the second executive to be fired, claiming weak sales.
Lori Greiner, on the other hand, was ready to respond with a counter-offer. She would provide the needed $50,000 in exchange for 40% ownership of the company.
Daymond “…just to stick it to Lori,” John stated in response to the offer. He also claimed to have a “corresponding product” as well as the infrastructure to market and sell it.
Waltermire countered, asking whether one of them would be willing to meet him at 30%.
Lori consented on the condition that she receive a purchase order from one of the following stores: Wal-Mart, Target, or Bed, Bath, and Beyond.
Daymond, on the other hand, refused to budge. Despite the fact that he would be using his licensing business for the items, which would cost him money, he stayed firm at 40%.
Waltermire kept bargaining with Daymond in mind. “Would you be willing to meet with me at 35%?”
After a brief time of deliberation, Daymond agreed.
What Happened BevBoy After the Shark Tank Pitch?
This agreement appeared to have never been completed, and the company went out of business in 2017. As of August 2021, Kevin is the Director of Business Development at ONE Cannabis Group.
What is the Net Worth of BevBoy?
Kevin approaches Shark Tank with a $50,000 offer in return for a 15% stake in his business. This works out to $333,333.33.
He accepted Daymond’s $50,000 offer for a 35% ownership in the company, bringing the total valuation to $142,857.14.
Who are the Competitors of BevBoy?
There is no known competitor for BevBoy.
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BevBoy FAQS
What is the Price of BevBoy?
This business is no longer available.
What was BevBoy?
BevBoy was a two-part gadget that comprised a regular foam can koozie to keep your beverage chilled and a weighted polypropylene anchor to balance the beverage’s weight and keep your drink upright while floating.
Who was the founder of BevBoy?
Kevin Waltermire founded the firm.
What Happened to BevBoy at the Shark Tank Pitch?
After stepping out onto the stage, the two guys entered the Shark Tank. One of them was dressed as if he was going to the beach and was serving as a live demonstration for the goods.
He undressed and went into a Kiddie swimming pool placed up on stage, as the Sharks looked on in terror.
Kevin approached Shark Tank with a $50,000 offer in return for a 15% stake in his business.
Did BevBoy get a deal on Shark Tank?
Daymond offered $50,000 in exchange for a 35% ownership in the firm. Kevin accepted the deal and the firm subsequently is valued at $142,857.14.
What happened to BevBoy after the Shark Tank?
As of August 2021, Kevin O’Leary is the Director of Business Development at ONE Cannabis Group and no longer associated with the company.
Is BevBoy still in business?
The company went out of business in 2017.
What happened to Daymond and BevBoy deal?
The agreement appeared to have never been completed.
Where was BevBoy located?
BevBoy was located Charleston, United States
When was BevBoy featured on Shark Tank?
Kevin Waltermire appeared on Shark Tank on June 2nd, 2015.
