What Happened to KudoBanz After Shark Tank?
What is KudoBanz?
KudoBanz is a firm that attempts to help youngsters become better listeners and behave without the need of timeouts or yelling.
It makes use of a wristband that youngsters wear to remind them of their goal. Children are motivated to improve their behavior when they get more charms for good behavior.
KudoBanz was designed by Amanda Naqvi as a creative experiment. She is the mother of three children and a business entrepreneur.
Amanda has always liked programming and designing things on the computer since she was a youngster, which is how she came up with KudoBanz, a company she still runs today.
Amanda was motivated to establish KudoBanz because she wanted to be a better parent to her three-year-old son.
She was looking for a way to push him to be a better listener without hurting his self-esteem. This is how she decided to employ her artistic ability to make Kudo charms, a children’s bracelet.
Who is the man behind KudoBanz?
KudoBanz was developed by Amanda Naqvi as a creative experiment. She is the mother of three children and a business entrepreneur.
Amanda has always liked programming and designing things on the computer since she was a youngster, which is how she came up with KudoBanz, a company she still runs today.
Amanda was motivated to establish KudoBanz because she wanted to be a better parent to her three-year-old son.
The starter package contains a book that introduces the child to the KudoBanz way of life. It’s a bracelet with little charms (or plaudits) that link to it when a child does nicely or accomplishes a goal.
Scanning the honors with the corresponding app will bring them to life. Positive reinforcement has been the subject of much psychological research:
Amanda created KudoBanz to assist one of her children learn to listen better. She goes on to say that the substance not only helped her kid heal, but also helped her become a better mother.
She developed a home environment that was “beneficial to everyone” by using positive reinforcement instead of yelling and “time outs.”
When a youngster does well, they are given accolades, which they can change as they see fit. Kudo charms come in a range of colors and styles to suit each child’s taste and preference. The rise of this brand has been powered by hard work and determination.
What Happened to KudoBanz’s Shark Tank Pitch?
In episode 16 of Season 9 of KudoBanz on Shark Tank, Hazma and Amanda Naqvi chose to pitch their innovation to Shark Tank investors for collaboration.
Amanda and Hamza, together with their children Mik’al, Ayaan, and Sofia entered the Shark Tank seeking $150,000 for a 10% ownership in KudoBanz, which is worth $1.5 million.
As they outline the concept, they declare that they’ve generated $80,000 in sales since starting in the summer of 2017. Each starter pack costs $.98 to make and retails for $29.99. They were in discussions with Buy Buy Baby.
As the game continues, the youngsters assume command. At one point, Mik’al starts answering all of the Sharks’ questions, even chastising Kevin O’Leary for his skepticism about the valuation.
The Sharks are fond of the family, but not of the sales statistics. Matt decides to exit since he feels there are too many similar products.
Lori Greiner claims she was not participating because she was working on a book that will compete with the product when it is launched. Daymond John feels that the kids will lose interest and goes out with them anyhow.
Kevin O’Leary again criticizes the valuation and exits. Mark Cuban was the final Shark to opt out of the deal, citing poor sales as the reason. They ultimately walked away from the pitch without a deal.
What Became to KudoBanz After Shark Tank?
Despite the fact that they did not get a deal, Amanda believes Shark Tank gave her and her children confidence.
As of June 2019, KudoBanz was no longer offered in Buy Buy Baby stores. They still sell on their website and through their Amazon shop.
Mik’al and Ayaan debuted their new product, Ornament Anchor, on QVC in August 2020. It’s a no-slip way to hang decorations.
The idea for the creation came to them when one of their favorite ornaments fell from their Christmas tree. They have sold over 500,000 units as of June 2021! KudoBanz’s annual revenue is $1 million.
KudoBanz’s Net Worth
During and after the pitch, the firm was valued at $1.5 million; since then, the company has been selling with yearly sales of $1 million in 2021. As a result, the company’s net worth might have been higher than that of pitch.
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KudoBanz FAQs
What is KudoBanz?
KudoBanz is a child-friendly bracelet that gives kids incentives for good behavior. It teaches them to be kind and caring by using positive reinforcement.
How do you clean KudoBanz?
People can use mild soap and water to clean their kid’s Kudo bracelet. They can also disinfect it with rubbing alcohol.
How many charms are there?
There are 16 different types of tokens that come with the bracelet to encourage good behavior and reinforce positive values in the child.
Will these bracelets cause my child to do more good behavior and more bad behavior?
No. If the child breaks the bracelet, it can be replaced. The bracelets are fun and child-friendly and encourage kindness without causing the child to embrace an unhealthy lifestyle, like drugs or alcohol. It also helps build self-esteem.
What is KudoBanz made of?
KudoBanz is made of high-quality materials. They use a special alloy called “Spring Steel” which is heat-treated for long-lasting durability and strength. The bracelets are made to be durable and flexible.
Is KudoBanz safe?
Yes, the bracelet has been tested by the U.S. government and they have determined that they are safe to use as a child’s Kudo bracelet because they meet all national safety specifications guidelines and standards.
What is the return policy of KudoBanz?
The company offers a 30-day refund for all orders. If a customer has issues with the product, he should contact customer support by email and provide his order number to get the refund.
What is the warrant of KudoBanz?
All Kudo products come with a one-year warranty for parts and workmanship. Customers who have a problem with the product can contact customer service via email to resolve the issue.
What is the cost of KudoBanz?
KudoBanz’s starter pack costs $29.99. This includes 16 charms of your child’s choice, which cost $0.98 each and special beads that ensure the charm stays in place.
In addition to the charm bracelet, kids can also have a KudoBanz game piece that helps them track their progress.
How do I make payment to KudoBanz?
Customers can make payment by credit card, PayPal, or cash. The payment is made on the website.
How can I track my order?
The company provides a tracking number within 24 hours of placing the order. The pack ships within 1 to 3 business days and will arrive in 6 to 10 business days after shipping.
