Mothers are the only humans who work 24\7. They are multitaskers and fulfill their motherhood duties all the time. However, it becomes difficult for them to carry their child everywhere, and especially if they are conceiving for another baby, it becomes even harder.
Tammy Rant, the owner of TushBaby, came on the show with the perfect solution. She introduced her TushBaby Carrier which is a sort of seat that tilts towards hips. It is in the form of a belt but it’s very easy to wear. She also demonstrated that the product is totally safe for kids and approved by pediatricians. Most of the weight then is absorbed by the carrier making it easier for mothers around the world.
The owner of TushBaby is on Shark Tank to request $200K for 10% equity. She even brought kids to the show to demonstrate how her product works and she was even pregnant. Let’s see if she got the deal or not.
TushBaby Net Worth 2024 Shark Tank Update
Tammy Rant was looking for an investment of $200K in exchange for 10% equity in the company. At the time of the episode, she valued her company at $2 million. Tammy successfully secured a deal with Lori Greiner for an investment of $200K for 20% equity in the company. The investment adjusted the company’s net worth to around $1 million. After the show was aired, the company experienced significant growth and exposure, leading to $10M in annual sales. As per my rough estimate, the current net worth of TushBaby in 2024 is around $20 million.
Tammy was an enterprise sales rep for LinkedIn before Starting the company and she will still continue the job for a couple of months. She being a mother herself can completely understand parenting problems and this led her to introduce TushBaby as an easy way of carrying a baby around.
Initial Pitch
Tammy Rant is on the show with her product along with kids and models to demonstrate how it works. She requested $200K for 10% in her company. Along with the product’s feature of easily carrying a baby around, it also has four storage pockets to reserve extra diapers and wipes for the kid in times of need.
Queries about the Product
Harjavec after trying out the product himself inquired about the cost of the carrier. Tammy replied that it’s for $21.81 in the shipping case while she is retailing it for $79 with free shipping along the U.S.
Cuban asked if the product is D to C (Direct to Consumers). The owner replied in the affirmative and pointed out that it is done through her own website.
Harjavec again questioned about her sales. She highlighted that even though the company was launched five weeks ago it had already sold about 2500 units.
Tammy also talked about her company going viral due to a couple of big media outlets like Buzzfeed Parents and Daily Mail.
Cuban inquired about the concerns and complaints she is getting from her consumers. To this, the owner pointed out that their carrier is a parent’s helper not an alternative for active parenting. The consumer although have not yet complained about anything regarding the product is her number one issue to look after. She has launched the product after market research, test trials, and feedback.
Lori asked regarding her shipment. She answered that it had not been shipped yet. This concerned the judges.
Cuban out of curiosity asked about the money she had raised so far. She answered that she had raised $75K for 5% even before her launch from a family friend to handle her pre-order situation. Right now, she has been selling 500 weeklies.
Shark’s Response and Final Decision
Daymond after praising her hard work was the first one to throw an offer. He pitched the exact deal as she wanted which is $200K for 10% equity.
Afterward, Harjavec backed out as he didn’t want to invest in a single type of product.
Then came Mr. Wonderful who offered a deal of $200K for 15% equity.
She was unable to decide and this followed Cuban to back out as well.
Due to impending the deal for too long both Daymond and Kevin dropped out.
Tammy’s indecisiveness leads to her requesting Lori for an offer. Lori did actually offer $200K for a 20% equity stack. This was readily accepted by Tammy.
The owner although was provided with a deal on Shark Tank, never got a practical turn. However, it is still in business with $10M annual sales. The company has not only redesigned its website but also introduced some new baby products like changing mates and tote bags. The company also look after disabled children especially those with Cerebral Palsy and donate their products for free.
Conclusion
Despite creating an air of confusion and irritation on the show, the owner of TushBaby was actually able to secure a deal from Lori. Even in a practical sense, Lori was not much of a help for her but she still was able to grow her business. Currently, her sales are $10M which is impressive.
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.
