What Happened to Busy Baby Mat After Shark Tank?
What is the Busy Baby Mat?
The Busy Baby Mat is a two-sided baby play mat suitable for children from newborn to three years. With its brilliantly colored motifs, the Busy Baby Mat is lively and entertaining. It is soft and fluffy, making it pleasant for the infant to rest on.
Busy Baby makes silicone placement mats that keep newborns entertained while their mothers do housework.
Betty Fynbo founded Busy Baby in late 2017 after the birth of her first child. A memorable lunch with friends, during which they spent most of their time leaning down to pick up their 1-year-olds’ toys, sparked the idea for a device that would prevent toys from falling (or being thrown) off a table or high chair.
Who is the creator of the Busy Baby Mat?
After the birth of her first child, Beth Fynbo established Busy Baby in late 2017. A memorable lunch with friends, during which they spent most of their time stooping to pick up their 1-year-olds’ toys, spurred the idea for a gadget that would prevent toys from falling (or being tossed) from a table or high chair.
Fynbo, a veteran of the army, engaged in a 12-week entrepreneurship course at Bunker Labs, a non-profit organization dedicated to assisting military veterans and their families in building successful enterprises, in 2018.
She learned about MN Cup, a startup competition hosted by the Carlson School of Management at the University of Minnesota.
She presently shares ownership of the company with her brother, Eric. Prior to launching the company, Beth also attended a 12-week Bunker Labs entrepreneurship course for veterans.
The mats come in a variety of colors. For $29.99, each mat comes with four tethers. She also sells tethers, rattles, and additional tethers on her website.
She co-founded the corporation with her younger brother, Eric, in 2017.
In October 2018, they launched an unsuccessful Kickstarter effort, yet they continued. They are now available on Amazon.com.
What happened to Busy Baby Mat’s proposal on Shark Tank?
After her Kickstarter campaign failed, Beth approached the Shark Tank investor for help with manufacturing and inventory.
Beth entered the Shark Tank seeking of $250,000 in return for a 5% ownership in her corporation, which valued at $5 million.
She delivers her pitch, tells her story, and then distributes samples. She has two patents and a great track record of sales. Each item costs $6 to produce and retails for $24.99. Sales to date amount $343,000, and she expects to close in 2020 with $900,000, $200,000 of which was profit.
Lori makes a $250,000 offer for a 20% ownership in the company, and Mark exits. Lori is interested in acquiring the rights to it.
Beth replies with a $250,000 offer for a 10% stake in her company, but Lori insists on 20% ownership.
Robert claims that Lori’s offer is greater to his own, and he departs from the deal.
Daymond states that he also exits the baby products industry. Because of the difficulty of launching a baby product, Kevin refers to her as a rock star; he’s out.
Beth responds with a counteroffer of $250,000 for 15% equity shares, indicating that she is unable to go over 15%.
Lori returns with $250,000 in exchange for 18% equity shares, and they continue to deal. Beth was strong in her viewpoint, and they do not strike a deal.
What Happened to Busy Baby Mat After Shark Tank?
The company continues to function following Beth’s departure from the Sharks without a deal. This episode was replayed for the first time in July 2021, just four months after it initially aired. In two days, the company sold more than 6000 units than it regularly sells in a month and a half.
After the episode aired, she created a baby spoon and a smaller mat to fit high chairs. She did conclude the year with a million dollars in sales and expects to make $4 million in 2021.
Busy Baby Mat’s competitors
The market is crowded with rivals for Busy Baby Mat. Having said that, it is normal for manufacturers to compare their goods to those of others. Here are some of Busy Baby Mat’s main competitors: Claire’s Toy Box and the Jumbo Tumblin’ Mat are also available.
Busy Baby Mat’s net worth
The firm was valued at $5 million during and after the pitch, and they have made a lot of sales with annual expected revenue of $4 million, which may cause the company valuation to be higher than that of the pitch.
Busy Baby Mat FAQs
How is Busy Baby Mat made?
The products are made with a machine that creates the mats, one side is white and the other is black. Each mat takes about 2 minutes to create.
What are the colors of Busy Baby Mat?
There are three colors of each mat: orange, yellow, and blue. Predictably, they have more demand in this color group in comparison to the others.
What do the initials BBM stand for?
Busy Baby Mat stands for Busy Baby Mat. The makers of this product created a name that was catchy to the ear.
What is the recommended age of Busy Baby Mat?
The mat is best suited for children who are not walking yet and thus cannot move around. The baby can also play with the toy, as it is tethered to the mat. Hence, it is recommended for a child who has just started walking.
What are the products made out of?
The product is made from high-quality silicone, which makes them soft and durable.
What does a Busy Baby Mat cost?
There are two types of Busy Baby Mats available on the market – reusable and disposable ones.
How long will Busy Baby Mat last?
The mats are durable and can last for years.
What does Busy Baby Mat cost?
The mats are available for $24.99 and come with four tethers.
Where can I buy Busy Baby Mat?
The product is sold online on the official website as well as Amazon.com. They are also available in some stores such as Babies R Us, Buy Buy Baby, and Target.
What is the purpose of Busy Baby Mat?
The primary purpose of Busy Baby Mat is to prevent toys from falling from a table and ending up on the floor.
Who invented Busy Baby Mat?
The idea for the mats was conceived by Beth Fynbo and her brother, Eric Fynbo. They were later launched on Amazon.com in October 2018.
How many stores are selling Busy Baby Mat?
The product is only made available via online and retail stores.
What is Busy Baby Mat return policy?
The product is not returnable. However, the company does offer a fantastic customer support. They also have an email address: [email protected]
What is the warranty of Busy Baby Mat?
The product is backed with a 1-year warranty – terms and conditions apply.
Does Busy Baby Mat really work to prevent babies from falling off tables?
There have been mixed reviews regarding whether or not this toy truly prevents a baby from falling off the table.
What are the dimensions of Busy Baby Mat?
The mat is 22 inches long, 65 inches wide and 1 inch thick.
What are some of the advantages of using Busy Baby Mat?
The advantage of using the product is that it prevents toys from falling down from tables.
What are the payment terms of Busy Baby Mat?
The payments for the product are accepted through credit card and Visa, MasterCard, and American Express.
Can children with disabilities use it?
The mat is not designed exclusively for children who are disabled. It can be used by any child without requiring them to have special needs.