Here's the Beebo, a product that resembles the original name, the Boobie getting pitched on Shark Tank. This new product changes the way babies are fed allowing you to free your hand from holding the bottle. The device goes over the shoulder and has an adjustable mount to hold the bottle.
Get the Beebo bottle holder here.
the Beebo Creator is an Electrical Engineer
Martin Hill, the Beebo founder, is an electrical engineer by trade.He found that his baby is most relaxed when he reads a book to him. That's why he created his new product so that he could free up a hand to hold the book. The Beebo is made out of flexible foam.
Season: 7 Episode 701
First Run: 2016/1/29
Shark: Mark Cuban, Ashton Kutcher, Kevin O'Leary, Lori Greiner, Robert Herjavec
Company: The Beebo
Entrepreneurs: Martin Hill
Ask: $200 for 20% equity
Deal: Ashton and Lori $200 for 30%
Sales are $20,000 coming into Shark Tank, selling at $34.95 and a cost of $10.86 for manufacturing. Sales coming into Shark Tank are 100% online, with no retail sales to date. Martin invested $180,000 of his own money in creating the Beebo.
Year one projections are at 14,000 units because of manufacturing constraints. Only one mold currently exists.
The product slogan is, “A better way to bottle feed.” Martin says The Beebo is with a fully issued Utility Patent, and he plans to ramp up with retail in year two.
What do the Sharks think about “the Beebo”?
The Sharks think that the packaging does not tell what the product is, and feel that repackaging will make a significant impact on sales.
Kevin O'Leary likes the product saying it is simple and will be successful with a packaging change. He offers $200,000 for 33% equity.
Robert Herjavec doesn't remember bottle feeding as being a problem, even though he thinks Martin is doing a great job with his product and he is all in. Robert goes out.
Mark Cuban also thinks the Beebo is a great product, but he would not think about trying to solve this problem, and for that reason, he is out.
New Shark, Ashton Kutcher thinks this is cool, but he feels his expertise comes down the road with marketing, not in the manufacturing and design process. So, Ashton goes out.
Then there is Lori Greiner who offers $200,000 for 30%, and she asks Ashton to participate in the deal. Lori thinks Ashton is a good partner because he is a new day, and because of his marketing channels. Ashton agrees to come back in, and they partner on the deal.
Martin blows off Kevin O'Leary and claims that he has his eye on Ashton and Lori for the deal. He agrees.
Buy the Beebo on Amazon