Parenting is not an easy job. It has to be careful, timely, and educational. Parents have to do a lot to train their children for 24 hours. They have to look after their washroom timings, tantrums, and even sleep schedules to maintain a happy and healthy family.
Amanda Naqvi and Humza Naqvi, the owners of Kudo Banz, have the best product to help parenting easy. They have introduced a band system with different types of charms as a quick reminder and reward system for kids. It works by using charms and fitting them on the band with respect to every chore the child performs. It is basically a routine check for the kids.
The owner came on Shark Tank to request $150K for 10% equity in their company. Mika’il, Ayaan, and Sofia, the owners’ children, also came on the show along with their custom-made Kodu Banz for the sharks. Let’s explore their journey on the show.
Kudo Banz Net Worth Shark Tank Update
Amanda and Humza were looking for an investment of $150K in exchange for 10% equity in the company. At the time of the episode, they valued their company at $1.5 million. Amanda and Humza did not secure a deal with any of the sharks. After the show was aired, the company experienced a good boost in exposure. As per my rough estimate, the current net worth of Kudo Banz in 2024 is around $1 million.
Shark(s) name
Offer & Demand
Counteroffer
Accepted?
Kevin O’Leary
Out
N\A
N\A
Mark Cuban
Out
N\A
N\A
Matt Higgins
Out
N\A
N\A
Lori Greiner
Out
N\A
N\A
John Daymond
Out
N\A
N\A
The Owner’s Backstory
The business started with Mika’il coming home one day from school and pointing out that he is not a good listener. It made Amanda confused about her parenting technique. Then she decided to make a product that helps parents out in taking care of children.
Their big debut was in 2018 at a toy fair, where they met the retailers and so far their sales are about $80K.
They have introduced a parenting tool that keeps track of the kid’s work done during the whole day and earns them a reward. This helps parents to focus on other things as well, making life easier.
Initial Pitch
The owners came along with their three kids on the show to seek $150K for a 10% equity stake. The band starts functioning with a storybook and ends up earning a charm for the kid. The charms are also scannable on the mobile which not only makes the screen colorful but also leads to a rolling spin where a kid can earn a reward.
Lori asked the first question regarding the charms being used for specific chores or not. Hamza highlighted that this is not the case. Parents can give their kids any charm they want. The third charm is basically the magical one that comes to life after scanning on the phone.
She also wanted to know if the charms were customizable. Mika’il pointed out that it is in fact customizable based on different chores a kid performs.
Kevin then asked about their strategy of distribution. Hamza related that they are selling the product online through their website and on Amazon.
He also inquired about the selling rate of the product and the cost it takes them to make a unit. The owner pointed out that the starter kit is $29.95 which includes the storybook. He also related that he has left his job to work on the business and Amanda is already a successful entrepreneur as she shifted a $0.20 investment to a million dollar.
Although the business is still functioning it has not achieved significant success so far. Their gross revenue is still at $1M on a yearly basis. The product can be found online on Amazon.
Thus, the family with their talented kids made an impression on the sharks with their reasoning but they were still unable to get a deal of their choice. The best part is they are still available online with an annual revenue of $1M. Looks like parents like their product as it gives a free hand them in their hectic family life.
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.
