BevBoy Shark Tank Net Worth | What Happened To BevBoy After Shark Tank Pitch?
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.
What Happened To BevBoy After 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 Shark Tank Update
BevBoy is a floating drink holder that was pitched on Shark Tank in 2015 by Kevin Waltermire[4]. The product is designed to hold a beverage while floating in water, allowing users to relax in the water without having to hold their drink.
During the pitch, investor Kevin O’Leary was not impressed with the product and declined to invest, while Daymond John invested $50,000 in exchange for 35% equity in the company.
According to a 2022 update, it appears that the deal with Daymond John never closed. However, being on the show gave the company some publicity, which helped with its marketing efforts. BevBoy continued to sell online through its website and Amazon until 2017 when BevBoy went out of business.
According to LinkedIn, Kevin Waltermire has since launched a new company called MusicBoxx, which is an app that catalogs “your life through music videos”.
BevBoy Shark Tank Summary
Topic |
Summary |
| Product | BevBoy is a floating drink cozy that keeps beverages upright and floating in water without tipping over. It consists of a foam can koozie and a weighted polypropylene anchor. |
| Founder | Kevin Waltermire is the founder of BevBoy. |
| Shark Tank Pitch | Kevin offered a $50,000 investment in exchange for a 15% ownership stake. He later accepted an offer from Daymond of $50,000 for a 35% stake. However, the deal with Daymond John never closed. Lori Greiner had offered $50,000 for 40% ownership if Kevin secured a purchase order from Wal-Mart, Target, or Bed, Bath, and Beyond. |
| BevBoy After Shark Tank Pitch | The deal with Daymond John never closed, and BevBoy went out of business in 2017. As of August 2021, Kevin is the Director of Business Development at ONE Cannabis Group. |
| BevBoy Net Worth | BevBoy was valued at $333,000 before appearing on Shark Tank based on a $50,000 offer in exchange for a 15% ownership in the company. The offer from Daymond John of $50,000 for a 35% stake would have valued the company at $142,857.14, but the deal never closed. The net worth of BevBoy as of 2023 is not available. |
| BevBoy Competitors | There are no known competitors for BevBoy. |
| BevBoy Still in Business? | BevBoy went out of business in 2017. |
BevBoy FAQS
What Is Bevboy and How Does It Work?
BevBoy is a floating beverage koozie that uses cutting-edge technology to allow a beverage to float in water without tipping over or spilling. The product is a two-part gadget that comprises a regular foam can koozie to keep the beverage chilled and a weighted polypropylene anchor to balance the beverage’s weight and keep the drink upright while floating.
The weighted polypropylene arm extension balances the weight of the beverage, keeping the drink upright. The product uses a gravity-stabilizing extension attached to the bottom of the koozie.
BevBoy was pitched on Shark Tank, but the business is no longer available. The product works great with standard 12oz cans and 12oz/16oz plastic cups.
It is recommended to take a sip out of the can before placing it in the BevBoy. With plastic cups, it is recommended not to fill the cup to the very top, but to fill the cup equal to the top of the BevBoy’s can cooler. There is no known competitor for BevBoy.
Who is the Founder of BevBoy?
Kevin Waltermire is the company’s founder. He attended the College of Charleston and participated in its 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.
What Inspired Kevin Waltermire To Create Bevboy
Kevin Waltermire, the founder of BevBoy, was inspired to create the product after he and his friends were enjoying drinks in a pool and kept spilling them. He realized that there was a need for a product that could keep drinks afloat and prevent them from spilling while enjoying water activities
To pitch the product on Shark Tank, Kevin set up a real hot tub on the set to demonstrate the need for the product and how it was used. The product is named after the American River Otter Superhero, Beverage Boy, whose superpower is to make beverages float.
What Is The Purpose Of Bevboy
The purpose of BevBoy is to provide a solution to the problem of spilling drinks while enjoying them in water. BevBoy is a two-component product consisting of a traditional foam can cooler that keeps the beverage cold and a weighted polypropylene arm extension that balances the weight of the beverage, keeping the drink upright.
The arm extension uses cutting-edge technology to allow the beverage to float in water without tipping over or spilling.
BevBoy is recommended for use with standard 12oz cans and 12oz/16oz plastic cups. The product is designed to be used while enjoying water activities such as swimming, boating, and beach outings
Did Bevboy Receive Any Investment from The Sharks? What Was The Outcome Of The Pitch On Shark Tank?
Yes, BevBoy received an investment from Daymond John during the taping of Shark Tank. The details of the deal were $50,000 for 35% equity. Kevin approached Shark Tank seeking $50,000 offer in exchange for a 15% ownership in his company.
It is unclear whether the investment from Daymond John had any impact on the current status of the company.
How Did BevBoy Shark Tank Pitch Go?
BevBoy is a company that appeared on Shark Tank and offers a cupholder that doubles as a flotation device. The product uses a gravity-stabilizing extension attached to the bottom of the cupholder to keep it stable.
The founders of BevBoy appeared on Shark Tank dressed in beach attire, with one of them serving as a live display for the product. Daymond John invested in the company after the pitch. There are updates on the company’s progress after Shark Tank on various websites
Which Shark Tank Investor Backed Bevboy
Daymond John invested in BevBoy during the taping of Shark Tank. The details of the deal were $50,000 for 35% equity. According to an article in Gazette Review, the deal was formalized after the show.
What Happened To Bevboy After Appearing On Shark Tank
Kevin Waltermire, the founder of BevBoy, agreed to a deal with Daymond John during the taping of Shark Tank. The details of the deal were $50,000 for 35% equity.
After securing the deal, Waltermire came back to Charleston to keep promoting his product and finalize the details of his deal with John. It is unclear whether the investment from Daymond John had any impact on the current status of the company.
BevBoy is out of business as of 2022.
Did he get the deal from the Shark Tank?
Yes, Kevin got the deal of $50,000 for a 35% stake in the business thus bringing the valuation to $142,857.14.
Is BevBoy still in business?
No, the business has closed down.
How much money did the company make?
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 in Charleston, United States
BevBoy Shark Tank Net Worth?
BevBoy 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
