What Happened to BZBox After the Shark Tank Pitch?
What is BZBox?
The BZBox is a foldable box for storing garments and other stuff. The BZBox design is a lidded collapsible storage box.
It folds up and stores easily when not in use. Alternatively, it can safely contain things while in use and allow the user to transfer items without the risk of the box collapsing.
The box’s unique locking mechanisms, which do not require tape, account for this.
Who is the Founder of BZBox?
Kaeya Majmundar is the founder of BZBox. A BA in Economics and Sociology from Emory University.
She presently resides in Chicago and has spent the last two years working for a start-up business she helped build.
SwayPay, a firm she co-founded, is her current job. It’s a marketing agency that works with other big companies to help people save money.
Kaeya’s roommate asked her to move a load of boxes into storage while she was studying for a college exam.
Because Kaeya was a wonderful friend, she agreed, but things went wrong when she picked one of the old, poorly packed cardboard boxes.
Unfortunately, everything went wrong on the way out to her car, resulting in a huge shambles.
As a result, she had to spend an exhausting day repacking her roommate’s possessions.
She vowed to find a solution, which led to the creation of the BZBox, which was a combination of frustration and inspiration.
Unfortunately, her parents were not delighted when she informed them.
She looked for an investor as a college student to help her fund her business plan and get it off the ground.
What Happened to BZBox at the Shark Tank Pitch?
Kaeya entered Shark Tank Season 5 Episode 29 with the hopes of receiving $50,000 in exchange for a 20% ownership in her business. This signifies that the Company is worth $250,000.
She tells her story and then invites Robert onstage for a box “race.” Before Robert can even pick up his “traditional” box, she opens a BZ Box.
Mark asks if Kaeya has done any marketing or advertising for the BZBox, but she says she is just wrapping up her sophomore year of college and that she first considered the BZBox last year.
The Sharks are worried about the extra cost of constructing her boxes.
Robert inquires about the price per box, to which Kaeya says that a typical cardboard moving box may cost around a dollar for 10,000 units, but a BZBox might cost around $1.75.
To bring the proper price down to $.56 a box, she’d have to order 400,000 boxes.
Lori, on the other hand, likes to use the plastic copy she brought.
Robert is out because he doesn’t think this is a serious enough answer to the problem she’s trying to solve.
Mark Cuban believes Kaeya is overthinking BZBox. He notices that the problem she’s trying to solve has to do with time. Kaeya admires Mark, but she also realizes that time is money. Mark has made it clear that he will be departing.
Barbara Corcoran believes she has a brilliant idea, but she can’t listen and isn’t an entrepreneur. She has departed.
Kevin O’Leary asked Kaeya what it would take to get the price down to fifty-six cents. She estimates that 400,000 units will be necessary.
Kevin is concerned about Barbara’s anxieties, but he still offers $50,000 for 50% ownership if she purchases the boxes for $.56 each. Lori begins negotiations with Kaeya, and Kevin departs.
Lori agrees to invest $50,000 in BZBox as a storage solution in exchange for 40% ownership on the condition that they find out how to manufacture BZBox as a storage solution, but Kaeya is ultimately the type of person Lori appreciates working with.
Without hesitation, Kaeya accepts.
What Happened to BZBox After the Shark Tank Pitch?
Lori’s contract was never finished, however she did instruct Kaeya at one point.
The company appears to have gone out of business in 2017, however as of August 20, 2021, some of the storage boxes are still available on Amazon.
Kaeya’s ZipTank, a tank top that transforms into a tote bag, was successfully financed on Kickstarter. That, too, was short-lived.
She is the CEO of SwayPay, which allows you to “receive payback on things you bought by sharing them on TikTok, regardless of how many followers you have,” as of August 2021.
What Happened to BZBox After the Shark Tank Pitch?
Kaeya appeared on Shark Tank with the hopes of receiving $50,000 in exchange for a 20% ownership in her firm. This signifies that the Company is worth $250,000.
Lori made her a $50,000 offer for 40% of the company, which she accepted. The company is no longer in operation.
Who are the Competitors of BZBox?
For BZBox, there were no rivals found.
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BZBox FAQS
What is BZBox?
The BZBox is a foldable box for storing garments and other stuff.
It’s a foldable storage box, so when it’s not in use, it can be folded up and stored.
Alternatively, it can safely contain things while in use and allow the user to transfer items without the risk of the box collapsing.
Who was the brains behind BZBox?
BZBox was founded by Kaeya Majmundar.
How much was she asking in the Shark Tank Pitch?
Kaeya was looking for $50,000 in exchange for a 20% ownership in her company.
Did she get the deal from the Sharks?
Lori Greiner, a shark, agreed to invest in her.
How much was the deal?
Lori Greiner, a Shark, offered her $50,000 for a 40% stake in the company.
How much is BZBox worth now?
It is no longer being manufactured.
Is BZBox still in business?
No, it looks that BZBox has ceased operations.
Where can they buy BZBox?
BZBox is no longer operational.
What became of BZBox after Shark Tank?
Lori Greiner is Kaeya’s mentor, despite the fact that BZBox did not ask for her money. Kaeya has not relinquished control.
In the 48 hours that followed the concert, a thousand BZBox boxes were sold. Her website hasn’t been updated in a while since the market is too small, and she’s working on fresh ideas.
Where is Kaeya Majmundar now?
Kaeya Majmundar is now the CEO of SwayPay, a new start-up. It’s an app that lets consumers “earn cashback on purchases by sharing them on TikTok, regardless of how many followers they have.”
When did BZBox begin?
Kaeya Majmundar started working on the BZBox in 2012 while seeking patents and applying for Shark Tank.
When was BZBox featured on Shark Tank Pitch?
On May 16th, 2014, BZBox was featured on Shark Tank Season 5 Episode 29.
When did BZBox go out of business?
The company appears to have gone out of business in 2017, however as of August 20, 2021, some of the storage boxes are still available on Amazon.
What weight was BZBox holding?
BZBox, according to Kaeya Majmundar, can handle up to 20 pounds.
What is net worth of Kaeya Majmundar?
The net worth of Kaeya Majmundar is unknown.
