What Happened to Clean Cube After Shark Tank?
What is Clean Cube?
Clean Cube is an apartment-based electronic locker system. The residents of the residential complex can use this cube for a fee.
When you’re busy or at work, you may use it to drop off and pick up anything in the cube for friends or business. The Clean Cube was designed to serve as your local concierge.
Arthur Shmulevsky is the President and Co-Founder of Clean Cube, while Ryan Agran is the Vice President and Co-Founder. Prior to Clean Cube, Arthur and Ryan were both entrepreneurs in a variety of other ventures.
The Clean Cube inserts locker-style units in residential building lobbies. To unlock and activate the lockers, residents are given a PIN code.
If you wanted to plan a pick-up for your dry cleaning, you would input your PIN and the system would tell you which lockers were accessible.
Put your dry cleaning in the locker, and it will be picked up and returned to you without you having to wait or leave your possessions in a hazardous location.
Who is the founder of Clean Cube?
Arthur Shmulevsky is the President and Co-Founder of Clean Cube, while Ryan Agran is the Vice President and Co-Founder. When Arthur and Ryan discovered there was a market for avoiding the burden of worrying about shipments sitting on your doorstep that may be stolen, they created it.
People who were forced to stay at home while waiting for a delivery that required a signature for acceptance came up with the idea for Clean Cube.
The Clean Cube also offers package delivery. When you place a delivery order, request that it be delivered to The Clean Cube headquarters.
They will deliver it to a safe locker in your building and alert you by text or email when it arrives. You may also use the same method to send packages, donate to Goodwill, or store items. The Clean Cube is also focusing on creating chilled lockers for home meal delivery.
The Clean Cube now has lockers in 40 New York City buildings, with hopes to expand to 1,000 in four years. Property owners love the service because it adds value to their property, while tenants value the security and convenience.
Shipping or receiving a package costs only three bucks. The cost of wash and fold is $1.15 per pound, and dry cleaning is the same as if you dropped it off.
Shmulevsky charges a premium for services that benefit all Clean Cubes in the city, allowing him to profit in the long run.
What Happened to Clean Cube at Shark Tank pitch?
Arthur Shmulevsky and Ryan Agran present The Clean Cube, an “automated doorman service,” to the Sharks in Shark Tank episode 708. They are looking for a Shark to help them with money for their expansion as well as expanded storage, laundry, and dry cleaning space.
Arthur and Ryan appeared on Shark Tank in seeking of $300,000 in return for a 10% stake in their business, worth $3 million.
They talk about how we live in an increasingly “on-demand” world and how many people struggle with the “last mile” in the on-demand economy. Clean Cube is their answer to the “last mile” dilemma.
Onstage, they have a Clean Cube and encourage Barbara to try it out. She enters her password to drop off dry cleaning in an empty cubicle and a box for Mark in another.
They require funds to expand and scale their business. They have Clean Cubes in 40 structures, with the smallest having 10 units and the biggest having 168 units.
Kevin inquires about the number of Clean Cube units needed per building, and the gentlemen explain that each Cube requires around 7 households.
When Kevin protests that landlords are only interested in collecting rent, Arthur discloses that the previous three buildings actually paid them to install Clean Cubes.
Barbara gets it: she believes that buildings with a doorman may charge higher rents, and Clean Cube will allow landlords to do the same.
Last year, the company earned $130,000 in sales, with half of that coming in the last three months. Robert says he doesn’t like the footprint and exits.
Kevin feels that each place will result in lengthy arguments, which will irritate him; he’s out.
Lori is aware that they are dealing with a serious problem, but she feels they are still working on resolving it; she also goes out.
Mark thinks they’re in the right place, but he doesn’t see any “wow factor,” so he’s out. Barbara doesn’t believe it’s a big play, so she’s also out. They ultimately walked away from the pitch without a deal.
What Happened to Clean Cube After Shark Tank?
While the company was able to gain access to 40 residential buildings in New York City, it closed its doors in November of 2015 after three years in business.
It is today. Ryan works as the Senior Director of Operations at Latch, while Arthur works as the Chief Operating Officer at FinOptimal, both of which are situated in New York.
Clean Cube’s Net Worth
The company value was $3 million during and after the pitch; however, the company went out of business in November 2015, hence the company’s net worth is unavailable.
Clean Cube FAQs
What exactly is Clean Cube?
Clean Cube is a doorman service that is automated. It offers a secure, safe, and handy location for the storage of shipments, dry cleaning, and personal things.
Who is the inventor?
The founders are Arthur Shmulevsky and his business partner Ryan Agran. Clean Cube was invented in response to a demand for a better method to safeguard parcels, dry laundry, and personal goods in buildings.
How much were they asking on Shark Tank?
They were asking for $300,000 in exchange for 10% of their $3 million firm.
Did they have the deal?
No, they did not have the agreement. They left without a Shark on board, with three out of five Sharks declining their invitation.
Is Clean Cube still in operation?
After three years in operation, Clean Cube closed its doors in November 2015.
Where was Clean Cube located?
Clean Cube was in New York, New York.
What is Clean Cube’s net worth?
Clean Cube’s net worth is currently unavailable.
How many people worked at Clean Cube?
At the time of the Shark Tank pitch, there were nine workers.
What was the size of Clean Cube?
Clean Cube had 40 sites in 40 buildings at the time of the pitch, with around 7 households per building.
How many units did each building have?
Each building ranged in size from 10 to 168 units.
How does Clean Cube function?
Automated locker cabinets are put in residential building lobbies, with each cabinet issued a PIN code. Users enter their PIN code into the cabinet’s computer system to retrieve their parcel or dry cleaning; after entered successfully and accepted by them for access to their locker, users may retrieve their package or dry cleaning.
Was Clean Cube a scam?
While Clean Cube was not a hoax, the creators believe that the company was closed down prematurely. They believe they could have grown to over 400 locations in numerous cities, but they preferred to grow organically.
What happened to the founders?
Ryan works as the Senior Director of Operations at Latch, while Arthur works as the Chief Operating Officer at FinOptimal, both of which are based in New York City.