BevBoy Shark Tank Net Worth | BevBoy Shark Tank Update
BevBoy Shark Tank Net Worth 2023
BevBoy is a floating drink cozy created by Kevin Waltermire and pitched on Shark Tank in 2015. The business was valued at $333,000 before appearing on the show based on a $50,000 offer in exchange for a 15% ownership in his company.
He later accepted an offer from Daymond of $50,000 for a 35% stake in the business thus the net worth of BevBoy based on valuation to $142,857.14 but the deal with Daymond John never closed.
The firm went out of business sometime in 2017 and the net worth of BevBoy is not available as of 2023
What is BevBoy? Who is the Founder of BevBoy?
BevBoy is a two-part device that consists of a foam can koozie and a weighted polypropylene anchor that keeps your beverage upright and floating in the water without tipping over. It is a breakthrough product that eliminates the need to hold your drink while in a pool or any body of water.
Kevin Waltermire is the founder of BevBoy. He attended the College of Charleston and presented his idea to area businesses during a session similar to Shark Tank, but he did not win.
BevBoy is a superhero otter with the ability to float any beverage on top of the water. The product was created by using a foam cooler that could hold 12-ounce cans and a polypropylene arm with a counterweight on the bottom.
BevBoy was conceived in July 2013, and since Waltermire is a relatively new business owner, he has yet to establish a strong reputation.
BevBoy Shark Tank Pitch
During the Shark Tank pitch, two men walked onto the stage, and one of them demonstrated the product, BevBoy, by wearing a beach outfit and climbing into a kiddie pool.
Kevin, the company’s founder, offered a $50,000 investment in exchange for a 15% ownership stake. He also revealed that the product had sold 2,500 units in six months, generating $10,500 in revenue.
The Sharks were impressed but wondered why the product hadn’t taken off faster. Kevin admitted to making mistakes, such as forgetting to bring order forms to trade events. Mark Cuban was out, and Kevin O’Leary called the product “poo-poo on a stick,” refusing to invest.
Robert Herjavec also declined due to poor sales. However, Lori Greiner offered $50,000 for 40% ownership if Kevin secured a purchase order from Wal-Mart, Target, or Bed, Bath, and Beyond.
Daymond John also offered $50,000 for 40% ownership and mentioned a matching product, but eventually accepted a counteroffer of 35% ownership.
The deal was not completed, and BevBoy went out of business in 2017. As of August 2021, Kevin is the Director of Business Development at ONE Cannabis Group.
BevBoy after the Shark Tank Pitch
Kevin Waltermire accepted $50,000 in exchange for 35% ownership of the firm from Daymond John. This transaction appears to have never concluded, and the firm went out of business sometime in 2017.
Kevin is the Director of Business Development at ONE Cannabis Group as of August 2021.
BevBoy Shark Tank Net Worth
BevBoy is a floating drink cozy created by Kevin Waltermire and pitched on Shark Tank in 2015. The business was valued at $333,000 before appearing on the show based on a $50,000 offer in exchange for a 15% ownership in his company.
He later accepted an offer from Daymond of $50,000 for a 35% stake in the business thus the net worth of BevBoy based on valuation to $142,857.14 but the deal with Daymond John never closed.
The firm went out of business sometime in 2017 and the net worth of BevBoy is not available as of 2023
BevBoy Competitors
There is no competitor identified for BevBoy.
BevBoy FAQS
What was BevBoy?
BevBoy is a drink koozie that floated around. The BevBoy was a two-part device that included a standard foam can koozie to keep their beverage cool and a weighted polypropylene anchor to balance the weight of the beverage and keep their drink upright while floating.
Who is the founder of BevBoy?
Kevin Waltermire is the company’s founder. He attended the College of Charleston and participated in their One-Year Global MBA Program.
During that session, Kevin gave a Shark Tank-style pitch to area businesses in return for comments on his presentation and company ideas. He did not, however, win that exchange.
How much was he seeking in the Shark Tank?
Kevin approached Shark Tank seeking $50,000 offer in exchange for a 15% ownership in his company.
Did he get the deal from the Shark Tank?
Yes, Kevin got the deal of $50,000 for 35% stake in the business thus bringing valuation to be $142,857.14.
Who invested in BevBoy?
Daymond invested in the business.
Is BevBoy still in business?
No, the business has closed down.
Does BevBoy work?
Yes, it does. The BevBoy was a two-part device that included a standard foam can koozie to keep their beverage cool and a weighted polypropylene anchor to balance the weight of the beverage and keep their drink upright while floating.
How much money did the company made?
At the Shark Tank, Kevin Waltermire explain that he sold 2,500 units worth over $10,500.
Where is BevBoy today?
BevBoy is no longer in business. Their website was deactivated in 2017 and has not been updated since then.
Where is Kevin Waltermire today?
Kevin is the Director of Business Development at ONE Cannabis Group as of August 2021.
What is the net worth of Kevin Waltermire?
Kevin Waltermire’s net worth is unavailable.
When was BevBoy founded?
Kevin Waltermire founded BevBoy in 2013.
When was BevBoy featured on Shark Tank?
Kevin Waltermire appeared on Shark Tank on June 2nd, 2015.
What episode of Shark Tank featured BevBoy?
BevBoy was featured on Season 6 episode 18.
Where was BevBoy located?
BevBoy was located Charleston, United States
