Bee Thinking Shark Tank Net Worth
Bee Thinking, also known as Bee Built, appeared on Shark Tank with a valuation of $4 million. The net worth of the company’s founder, Matt Reed, is estimated to be $3.5 million.
Daymond John, one of the Sharks on Shark Tank, has a net worth of over $350 million. Bee Built crafts sustainable bee hives and beekeeping supplies and offers free shipping on orders over $75.
What is Bee Thinking and Who is the Founder of Bee Thinking?
Bee Thinking is a company that produces beehives and beekeeping equipment for a wide range of customers. They offer a variety of items including honey and honey products, candles, bees, hives, and beekeeping suits.
The hives are made of long-lasting Western Red Cedar and come in three varieties: the Top Bar Hive, Warre Hive, and Langstroth Hive. The price of the hives ranges from $199 to over $400, depending on the features and extras included.
Bee Thinking was founded by Matt Reed and Jill Reed, who were already experts in their respective fields. Matt was an IT specialist and Jill worked in the wine industry.
After a chance encounter with a hungry bee, Matt was inspired to become a beekeeper and started Bee Thinking as a way to share his love for beekeeping and protect ecological balance.
In 2017, Bee Thinking was acquired by Bee Built and little is known about the Reeds’ current activities. However, the demand for Bee Thinking beehives continues to grow, with orders coming in from all over the world.
Bee Thinking Shark Tank Pitch?
After the Shark Tank pitch, Matt Reed appeared on season 6 episode 24 of the show, seeking a $400,000 investment for a 10% stake in his company, which was valued at $4 million.
Matt discussed his background in beekeeping and how he began building beehives. After launching a blog, he received numerous requests from people to purchase his hives. He stated that his customers buy his hives to aid the environment and that they cost $150 to produce and sell for $360. In the year of the pitch, the company made $500,000 in revenue with a $120,000 profit.
Although the Sharks were impressed with Matt’s business, none of them decided to invest. Mr. Wonderful declined because he believed the valuation was too high, Mark passed because he did not want to add stress to his life, Lori was not interested because she did not like honey, Robert had concerns about sales and inventory, and Daymond thought the scaling up process would take too long.
Despite not receiving investment from the Sharks, Bee Thinking continued to thrive. However, in 2017, the company had to shut down due to an inability to keep up with demand. A year later, Matt relaunched the company under the name Bee Built, and as of August 2021, the business had an annual revenue of $3.5 million.
Bee Thinking Net Worth
Matt Reed appears on Shark Tank season 6 episode 24 in search of $400,000 for a 10% stake in his company. This translates to a $40 million valuation.
Bee Thinking Competitors
Bee Thinking Competitors faces some competitions inn its market space, this includes;
Bee Well Honey Farm, Betterbee, Lappe’s Bee Supply & Honey Farm and Bee Craft are Bee Thinking Competitors.
Bee Thinking Shark Tank Updates
Bee Thinking is a company that manufactures beehives and beekeeping supplies. The company was founded by Matt Reed and his wife, Jill, in 2008 as an internet resource for people interested in beekeeping.
Matt Reed pitched Bee Thinking on Shark Tank in season 6, episode 24, seeking $400,000 in exchange for 10% of the company. However, none of the Sharks made a deal with him.
After the Shark Tank appearance, Bee Thinking rebranded to Bee Built. In 2017, Matt shuttered the business due to the inability to keep up with orders.
However, interest in his hives led to many sales and third-party interests. Daymond John also became an avid beekeeper. A detailed update on Bee Thinking/Bee Built occurs in Beyond the Tank episode 201.
As of April 2023, there is no recent update on Bee Thinking/Bee Built’s current status or whether they have secured any deals.
Bee Thinking/Bee Built 2023
|Shark Tank Pitch
|In season 6 episode 24, Matt Reed appeared on Shark Tank seeking a $400,000 investment for a 10% stake in his company, which was valued at $4 million. The Sharks declined to invest.
|Bee Thinking, now known as Bee Built, produces bee hives and beekeeping equipment for a wide range of customers. It was founded by Matt Reed and Jill Reed, who were already experts in their respective fields. Bee Thinking was acquired by Bee Built-in 2017, and as of August 2021, the business had an annual revenue of $3.5 million.
|The founders of Bee Thinking are Matt Reed and Jill Reed, who were experts in IT and the wine industry, respectively.
|Products and Hives
|Bee Thinking/Bee Built produces beehives and beekeeping equipment, including honey and honey products, candles, bees, hives, and beekeeping suits. The hives are made of long-lasting Western Red Cedar and come in three varieties: the Top Bar Hive, Warre Hive, and Langstroth Hive. The price of the hives ranges from $199 to over $400, depending on the features and extras included.
|Bee Thinking/Bee Built’s competitors include Bee Well Honey Farm, Betterbee, Lappe’s Bee Supply & Honey Farm, and Bee Craft.
|Shark Tank Updates
|Although Bee Thinking/Bee Built did not receive investment from the Sharks, the business continued to thrive. In 2017, the company had to shut down due to an inability to keep up with demand. A year later, Matt Reed relaunched the company under the name Bee Built. As of April 2023, there is no recent update on Bee Thinking/Bee Built’s current status or whether they have secured any deals.
|Bee Thinking/Bee Built had a $4 million valuation at the time of its Shark Tank pitch. Matt Reed’s net worth is estimated to be $3.5 million.
Bee Thinking FAQS
What Is Bee Thinking And How Does It Work?
Bee Thinking is a beekeeping supplier that specializes in manufacturing foundationless beehives. They sell three types of hives for beekeeping: the Top Bar Hive, the Warre Hive, and the Langstroth Hive.
The Top Bar Hive is light and has easy access, the Warre Hive is the easiest to maintain, and the Langstroth Hive is the traditional box hive that most people are familiar with.
The hives cost anywhere from $199 to over $400 depending on the options and extras provided. Bee Thinking also sells all the beekeeping accessories you would need, plus honey and other bee-related products.
Bee Thinking’s mission is to build awareness about bees in the ecosystem and to bring beekeeping to the masses. They promote all-natural methods and do not endorse the use of chemicals in their hives.
All their hives are made at their mill in Portland, Oregon with the finest quality lumber available. Bee Thinking strives to support beekeepers around the world and helps to foster and grow the globe’s waning bee population. They are committed to sustainability and make the highest quality beehives from clear lumber.
Bee Thinking is under new ownership and a new management team that designs new products for the beekeeping community and then partners with workshops and studios that are engaged in social impact in their communities and that facilitate worker empowerment.
They are one of the only beekeeping supply companies with B Certified Corporation status. Bee Thinking’s goal is to relay straightforwardness, originality, and cleverness with their new logo.
Who is founder of Bee Thinking?
Matt Reed is founder of Bee Thinking.
What Was The Outcome Of Bee Thinking Shark Tank Pitch?
During his pitch on Shark Tank, Matt Reed, co-owner of Bee Thinking, asked for $400,000 for 10% equity in his company, which creates alternative bee hives to help save the bees.
However, none of the sharks made an offer, and Reed left the tank empty-handed. Despite not receiving a deal, Bee Thinking has continued to grow and expand its business.
In fact, Daymond John, one of the sharks who did not invest in Bee Thinking, later bought a hive from Reed and has been a great promoter of the business.
The Reeds have also expanded their store after their appearance on Shark Tank. While Bee Thinking did not receive a deal on the show, it has continued to thrive and make a positive impact on the environment.
What Happened To Bee Thinking After Shark Tank?
After appearing on Shark Tank, Bee Thinking faced financial difficulties, and the company was shut down temporarily. The company was later rebranded as Bee Built.
In a Beyond the Tank episode, it was revealed that the business was shuttered in 2017 due to the inability to keep up with orders. Despite not receiving a deal from the Sharks, Bee Thinking gained interest from third parties and saw an increase in sales.
According to an interview with Matt Reed, the founder of Bee Thinking, the company means everything to him and his family, and he has given up everything to make it work.
It is unclear from the available search results what the current status of Bee Built is, but it appears that the company has continued to sell beehives and beekeeping supplies. Shark Tank Tales provides a detailed account of Bee Thinking’s pitch on Shark Tank.
Did Bee Thinking Receive Any Investment From The Sharks?
No, Bee Thinking did not receive any investment from the Sharks on Shark Tank. Despite this, the company gained popularity and interest from third parties after the show.
In a Beyond the Tank episode, it was revealed that the business was shuttered in 2017 due to the inability to keep up with orders.
How much was he seeking in the Shark Tank?
Matt was searching for $400,000 for a 10% stake in his company. This translates to a $4 million valuation.
Is Bee Thinking still in business?
Yes, as of August 2021, Bee Thinking is still in business.
Where is Bee Thinking Headquartered?
It is headquartered in Portland, Oregon.
When was Bee Thinking aired on Shark Tank?
It was aired on April 10th, 2015
What episode was Bee Thinking featured?
Bee Thinking was featured on Season 6 Episode 24.
When was Bee Thinking founded?
Bee Thinking was founded in 2008.
What are Bee Thinking’s competitors?
Bee Thinking Competitors include Bee Well Honey Farm, Betterbee, Lappe’s Bee Supply & Honey Farm and Bee Craft.
Is Bee Thinking successful?
Bee Thinking is successful with an annual revenue of $3.5 million.
How much was does hives cost?
Hives cost around $150 to build and sell for $360.
What is the business model for Bee Thinking?
The business model for Bee Thinking is to produce and sell hives, beekeeping gear and honey products.
How did Matt Reed get into beekeeping industry?
Matt Reed was inspired to launch Bee Thinking after performing an act of kindness.
When he observed a hungry bee and gave it honey, additional bees came on his window the next day.
He saw this as a chance to become a beekeeper.
Is the bee business profitable?
They may make money depending on how many hives they have. However, it is very dependent on the season and the flow of nectar. When starting out in beekeeping, there are several expenses to consider.
What is the net worth of Matt Reed?
Matt Reed’s net worth is unavailable.