YUBO Net Worth Shark Tank Update

In every house, there is at least one school-going child who has to take lunch for his school. In order to keep the lunch safe and warm, we use lunch boxes that are easy to carry. However, the lunch boxes we use are mostly made of fabric to insulate the food and at the end of the day, it becomes so filthy that it becomes difficult to clean it. Moreover, usually, we use plastic wrapping which is even more dangerous for the environment.

Paul and Cyndi Pedrazzi, a couple who founded the YUBO Lunch Box System have the perfect solution to overcome this problem. Their product is designed to be cleaned easily, so can safely be called dishwasher safe. It comes with a reusable container with already installed ice packets to keep the food fresh. The unique feature of this product is its ability to be customized by the child according to his needs and preferences.

The owners of this system are on Shark Tank with their whole family and they are requesting $150K for 15% equity in their company. They have even brought custom-made lunch boxes for the judges to convince them to make a deal. Let’s see what the judges have to say.

YUBO Net Worth 2024 Shark Tank Update

Paul and Cyndi Pedrazzi were looking for an investment of $150k in exchange for 15% equity in their company. At the time of the episode, they valued their company at $1 million. Paul and Cyndi successfully secured a deal with Kevin and Robert for an investment of $150k for 10% equity, with the condition that the amount is repaid within 18 months. The investment adjusted the company’s net worth to around $1.5 million. Despite securing a deal and gaining exposure from the show, the company struggled to maintain long-term success. As per my rough estimate, the current net worth of YUBO Lunch Box System in 2024 is around $0, as the company is no longer operational and closed in 2019.

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin + Robert	$150K for 15% equity	$150K for 10% of equity stake, if the amount is repaid within 18 months.	Yes
Barbara Corcoran	Out	N/A	N/A
Lori Greiner	$150K for 15% equity	$150K for 15% of equity stake, if the amount is repaid within 15 months.	N/A
Mark Cuban	Out	N/A	N/A

The Pedrazzi’s Backstory

The couples have two school-going daughters. They were concerned with their children’s school boxes. They find this issue to be an environmental hazard and personally, Cyndi was facing issues with proper cleaning of the boxes. Thus, it was alarming on both personal hygienic and global environmental basis.

This became the basis for them to invent the YUBO Lunch Box System. It is not only kid-friendly but also contains reusable containers to stop environmental degradation.

Initial Pitch

The Pedrazzi’s came on Shark Tank with their product and five custom-made lunch boxes for the judges with their face paintings on them. They requested $150K for a 15% equity stack. The judges were impressed by the quality of the product and its presentation. They presented their two types of lunch boxes. The basic one with no extra inner containers is $21.99 and the deluxe with extra small containers. The price of the deluxe changes from a simple version to being custom-made. Paul also demonstrated that the lunch box can be broken into parts and reassembled once it has been cleaned in the dishwasher.

Queries about the Product

Initially, Barbara asked Cyndi about the price rate of a typical lunch box. She replied with an estimation of about $15-20.

Cuban asked about the amount sold and the time they have been selling their product in the market. Cyndi replied confidently that the product has been selling in the market for four years and they have already sold roughly between 200K to 250K lunch boxes. This impressed the judges a lot.

Lori then asked about the pedant of the product. Cyndi highlighted that in fact they have not one but two pedants which are the design and the utility pedant. They even own their company’s trademark.

Barbara inquired regarding the person who designed the product to which Cyndi pointed out that both she and her husband are the designers of the product.

Lori again asked about the amount invested in the product. The owner highlighted that they invested their personal money in it which is about $350K. She also highlighted that the industrial designer owns 20% of the shares and also has a royalty. The royalty is on the basis of a sliding scale which varies between 5% and 1% based on the units sold.

Kevin then showed concern and asked about the perpetuity which is basically an investment asset that pays a stated return for an infinite amount of time. Paul answered in the affirmative and highlighted that it will drop down to 1% if they have 750K units sold. Moreover, Paul described that it is in fact 5% of sales. This truly perplexed the judges.

Shark’s Response and Final Decision

Mark as usual was the first one out because their product has other strong competitors and the sales are not up to the investment they have made.

Barbara then highlighted that the size of the lunch box is too big for her to put in a bag, which leads to her dropping out as well.

Kevin then went the other way and showed his interest in the product. He can help them out in retail if they accept the deal of $150K and 10% equity with the privilege their industrial designer has i.e., a 5% to 1% royalty based on sales. Paul answered negatively and highlighted that the deal was unsatisfiable.

He then changed his deal by demanding 20% for the same amount which will be dropped to 12.5% if $150K is repaid in 18 months and if they won’t be able to do it Kevin will stay at 20%. To make things interesting and get the deal he claimed to reduce the equity to 10% if the amount was paid back in the required time.

Robert asked for 30% equity in their product with a deal of $150K. By following the steps of other judges, he also changed the deal but he came back to the original deal of $150K for 15% equity. He also claimed to help them out in retail.

Lori made the deal even more interesting but demanding 20% equity for $150K and also pointed out that she has strong connections in Disney and Walmart. She then changed the deal for a 15% stack and the amount must be paid back in 15 months.

The owner after getting confused asked if the judges could get on the same platform. To which Robert showed bias towards Kevin. Finally, the owners then made the deal with Kevin and Robert.

Product’s Availability

Despite getting two judges on their side and getting the deal of $150K for 10% equity if the amount is repaid in 18 months, the company no longer exists. Research shows that they were in the market for five years but in 2019 Cyndi posted for the end of the YUBO Lunch Box Systems.

Conclusion

Although the couples made a strong impact with their product in the show but still can’t be able to follow up in the long run. It’s sad to hear this but we can wish the family to achieve heights nevertheless.