What Happened to Bouquet Bar after Their Shark Tank pitch?

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What is Bouquet Bar?

Bouquet Bar was a company that allows customers to customize their own gift boxes or select one of their pre-designed boxes.

They choose what they wish to add in the gift box online (roses, chocolates, candles, or succulent plants), and Bouquet Bar ships it to the recipient. The price of a Bouquet Bar box ranges from $52 to $160.

Customers at the Bouquet Bar may customize their gift box and its contents. There are boxes for every occasion (or non-occasion) when you want to convey your love or friendship.

They can send remembrances, congrats, encouragement, or condolences in one of a plethora of beautiful boxes holding two to six things, including the “top-of-the-line” box, which includes a lovely arrangement of flowers.

Who is the Bouquet Bar’s Founder?

Bouquet Bar was founded in early 2017 by Alex Amidi, David Yusuf, and Sal Aziz. The first two previously established Square Root Designs, a flower design company.

The idea for the Bouquet Bar as a gifting platform emerged from observing that many of their customers want something more unique to give to their loved ones.

By 2018, the Bouquet Bar has forged partnerships with prominent organizations like Google, Facebook, First Republic Bank, Oracle, and the Four Seasons Hotel.

They’ve also launched their own line of chocolates, dummies, face creams, and nuts.

What Happened to Bouquet Bar on Shark Tank?

David, Sal, and Alex make an appearance on Shark Tank season 9 episode 19 in pursuit of $150,000 for a 10% investment in their firm. This equates to a $1.5 million valuation.

They tell their story and give the Sharks sample boxes. The Sharks are pleased with the great quality of the boxes. Mark inquires whether it is possible to customise boxes, and the answer is yes.

Daymond is on the lookout for the figures. A little box costs $20 to manufacture and sells for $50. The medium bundle costs $34 and is available for $75.

A large box costs $68 and sells for $155 USD. Shipping is $12-$15. In terms of earnings, they’ve made $100,000 in four months but are still not profitable.

The three guys have put $600,000 of their own money into the business. The other half was focused on product development. They also state that they have a 3,200 square foot facility.

They inform the sharks that they are ready to scale and that they have $3,000 in product that has the potential to produce over $1.2 million in sales.

Lori feels their product is equivalent to Sugarfina, thus she is departing.

Sarah notices that the point of differentiation is insufficient, but she then backs out of a deal.

Daymond notes how difficult and costly it is, yet he also drops out. He’s no longer there.

Kevin feels their customer acquisition cost is too high, thus he is leaving.

Mark makes a non-negotiable offer of $150,000 for 20% of the purchase price. When pressed for a response, the three concur unanimously.

What Happened to Bouquet Bar Following the Shark Tank Pitch?

This company went out of business in December of 2019. Square Root Designs’ work by Alex and David continues. Sal is still employed at his digital marketing firm, Adaptive Media.

What is the Net Worth of Bouquet Bar?

David, Sal, and Alex make an appearance on Shark Tank season 9 episode 19 in pursuit of $150,000 for a 10% investment in their firm. This equates to a $1.5 million valuation.

They accepted Mark’s offer of $150,000 for a 20% ownership, bringing the price to $750,000.

Who are the Bouquet Bar Competitors?

Bouquet Bar Competitors GiftStarter, Giftworthy, and Snappy Gifts are some alternatives and competitors to Bouquet Bar.

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Bouquet Bar FAQS?

1. What does Bouquet Bar mean?

Bouquet Bar is an online gifting company that allows customers to choose their own bouquet or box of flowers.

2. Where can they find Bouquet Bar?

This business has been shut down.

3. Who was founder of Bouquet Bar?

Bouquet Bar founders were Alex Amidi, David Yusuf, and Sal Aziz.

4. Where was Bouquet Bar located?

Bouquet Bar was based in Irvine, California, United States.

5. When was Bouquet Bar founded?

It was founded in the year 2016.

6. How much was they seeking in the Shark Tank?

They requested a $150,000 investment for 10% equity in their company.

7. How much did they received from the Sharks?

They received a $150,000 investment for 20% of the company or a total of $750,000 from Mark Cuban

8. What is the Bouquet Bar’s revenue?

The company has been shut down.

9. Is Bouquet Bar still in business?

No. The Business is no longer in Business. The website is no longer active. In December of 2019, they folded up their storefront and shut down.

10. Where are the founders of Bouquet Bar now?

Alex and David’s work at Square Root Designs continues. Sal is still working at his internet agency, Adaptive Media.

11. How did they came up with the idea?