Kaeya created BzBox one year before her Shark Tank pitch with plans to revolutionize the packing industry. She is a sophomore in college and changed her plans from becoming a doctor so that she can build her business.
BzBox wins College Entrepreneur Contest
BzBox won the college entrepreneurs contest at her college and is patent pending.
BzBox costs $1.75 to make and needs to come under a $1.00 to get the box into the Lowes Stores.
Entrepreneur: Kaeya Majmundar
Ask: $50,000 for 20% equity
Companies in this episode: Baker's Edge, Foot Fairy, Tie-Not
Season: Season 5 Episode 529
Sharks: Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, Robert Herjavec
First Aired: 05/16/2014
Deal: Lori Greiner $50,000 for 40% equity
What do the Shark Tank Investors say about BzBox
- Mark Cuban believes Kaeya is overthinking BzBox. He sees the problem she is solving is time. Kaeya tells mark she respects him, but that time is money. Mark says he is out.
- Barbara Corcoran believes she has a wonderful idea but cannot listen, and she is not an entrepreneur. She is out.
- Kevin O'Leary asked Kaeya what it would take to get the cost down to fifty-six cents. She estimates that it would require an order of 400,000 units. Kevin is worried about Barbara's concerns, but still offers $50,000 for fifty percent equity provided she goes out and source the boxes at $.56. Kevin goes out when Lori starts working a deal with Kaeya.
- Lori Greiner has a few problems with her model but believes Kaeya is clever and will figure it out. She will go out and do whatever it takes. Lori offers $50,000 for 40% equity, and they have a deal.
Robert Herjavec does not see that this is a big problem requiring a fix. Robert goes out.
BzBox after Shark Tank
It turns out, BzBox did not need Lori's money, and Kaeya did not give up equity, although Lori Greiner mentors her. BzBox sold 1,000 boxes in the forty-eight hours following the show. Evidently, the market wasn't big enough because her website is no longer live, and she continues working on developing other ideas.