Life gets busier and tougher after starting a new life with a newborn baby. Usually, mothers have to stay at home to look after their kids and ensure a safe environment. However, there are occasions where they need to go out but they can’t leave behind their children at home. Even though you comfortably arrange their space on a baby chair they constantly throw away their things on the ground, making them dirty.
Beth Fynbo, the owner of Busy Baby Mat, has introduced the perfect mats for mothers around the globe. The mat is made up of silicone and can easily get attached to any surface that a customer wants. It also comes with two antenna-type silicone threads that make sure to hold the things a baby needs and keep them at a closer distance. Moreover, it is clean to use, dishwasher safe, and can be easily kept in a bag to carry around.
The owner came on Shark Tank to request $250K for 5% of her company. She also brought her product for the sharks to monitor their functionality. Let’s see if she gets the deal or not.
Busy Baby Mat Net Worth Shark Tank Update
Beth was looking for an investment of $250K in exchange for 5% equity in her company. At the time of the episode, she valued her company at $5 million. Beth did not secure a deal with the sharks and left the show without any investment. After the show was aired, Busy Baby saw a big increase in website traffic, sales, and social media exposure. As per my rough estimate, the current net worth of Busy Baby in 2024 is around $10 million.
Beth related that her father was an entrepreneur. She got her business from her father. She also joined the army for 10 years after college. Afterward, she got married and in a gathering with her friends and their kids. The kids were extremely annoyed and she started searching for a product on Amazon to help them out. She didn’t find anything online and decided to make Busy Baby mate.
The mate is perfect for mothers who are annoyed by constantly bending and rearranging things for their kids. It is also healthy and clean to use.
Initial Pitch
The owner came on the show to seek $250K for a 5% equity stake. The product has multiple uses including covering the handle of a shopping cart and on windows to motivate kids to stand up. Additionally, it can also be used as a coloring pad to keep them engaged.
Lori asked the first question regarding her competitors making the same product. Beth replied that even though there are products like hers they have not combined the suction and the antenna system together. Besides her product also comes with inbuilt toys too.
Cuban then inquired about its cost to make and selling rates. The owner answered that she was selling it for $24.99 and it cost her $6 to make.
Kevin inquired about patenting the product. She confidently answered that the product has two utility patents in the U.S. and a patent is also in progress in China.
He also asked about her sales. She highlighted that she started selling in 2019 and made $97K. She then traveled to different expos to provide demos to people about her product. But in 2020 the pandemic happened and in the first two months, she only had $20K in sales. Afterward, she made $323K in sales, which is pretty impressive. The high sales rates are because of her social media sales advertisements.
She is now expecting to make just under $900K at the end of this year.
Cuban asked about her profits from the sales. Beth answered that the net profit sums up to 25%.
Shark’s Response and Final Decision
Mark Cuban was the first shark out as he had already invested in a baby product earlier.
Lori then offered Beth $250K for a 20% equity stake. Beth then requested to lower her equity to 10%, which Lori readily rejected.
Herjavec then pointed out that he can’t invest in a baby product and Lori’s offer is already perfect for her. So, he backed out too.
Daymond and Kevin shortly followed the other two sharks and decided to leave the deal too.
Lori then offered her for the second time $250K but for 18% equity. The owner didn’t accept the offer.
Thus, Beth left the show without getting any deal.
Despite getting no deals from the sharks on the show, Busy Baby is still in business. They had added new items to their business as well like the baby teether and training spoon.
Moreover, Beth’s brother also joined her in the business. According to 2023, their estimated sales were $5M. Additionally, her business setup changed from a basement to a 7K square-foot warehouse. We can also buy her products from the company’s website.
Busy Baby’s journey on the show proved that even if a person fails in front of the sharks, it’s not necessary that she will also make no impression on the wider horizon. Beth’s case highlights that the shark was unfortunate to step away from the deal. The company has now expanded both its setup and product line and is still making progress.
Hey there, it’s Andaleb Youns. I am a freelance content writer and am currently pursuing a BS in English Language and Literature. I have expertise in writing Blog Posts, social media content, and copywriting. I know how it feels to be a student and still be dependent on parents to fulfill even basic daily needs. This realization became apparent while watching Shark Tank. Although I started watching this show out of boredom, it proved to be an inspirational show. The show made me realize the importance of hard work, being independent, and of having a business of my own. I still look forward to it for entertaining and inspirational content.
