Bibbitec Shark Tank Net Worth 2023
Bibbitec appeared on Shark Tank and was initially valued at $285,714. The net worth of Bibbitec is unknown as of 2022. However, the company was able to generate $10 million in revenues.
After the episode aired, Bibbitec’s sales surged and the company made $75,000 in sales on the night of the show and nearly $40K worth of bibs on the weekend it aired.
However, according to online research, Bibbitec went out of business in 2018 and the product is no longer available in the market. Therefore, it is unknown what Bibbitec’s net worth is as of 2023 or what happened to its founders’ net worth
What Is Bibbitec? Who Is The Founder Of Bibbitec?
Bibbitec is a multi-functional bib that is resistant to water, stains, and odors, and can be easily cleaned with a baby wipe. It is larger than traditional bibs, reducing the chance of a baby’s clothes getting dirty when it spills.
Susie Taylor, a stay-at-home mother of two from San Diego, California, invented Bibbitec after being dissatisfied with bibs that absorbed moisture and spilled meals.
The patented Bibbitec combines a burp cloth, changing pad, nursing shield, full-body bib, placemat, breathable stroller blanket, art smock, napkin, and apron.
Bibs come in three sizes for newborns, toddlers, and older children, and are made from non-toxic cloth. Susie’s husband, Steve, helps with marketing and is Bibbitec’s marketing director, handling advertising, social media, and public relations.
Although Bibbitec is a useful product, some critics claim that it has not been marketed well. Nonetheless, it remains a popular and functional product for parents.
Table: Bibbitec Shark Tank Summary
| INFORMATION | VALUE |
| Appearance on Shark Tank | Valued at $285,714 |
| Net worth of Bibbitec | Unknown in 2023, out of business in 2018 |
| Revenues generated | $10 million |
| Founder | Susie Taylor |
| Founder’s husband | Steve Taylor |
| Investment sought | $40,000 for a 14% stake |
| Sales after Shark Tank | $75,000 on the night of the show and nearly $40,000 worth of bibs on the weekend it aired |
| Sales surge | Attracted 1,500 sales per day, then leveled off at 50 |
| Product features | Multi-functional bib resistant to water, stains, and odors. It can be easily cleaned with a baby wipe. Combines a burp cloth, changing pad, nursing shield, full-body bib, placemat, breathable stroller blanket, art smock, napkin, and apron. Bibs come in three sizes for newborns, toddlers, and older children, and are made from non-toxic cloth. |
| Reason for closure | Not performing well in the market |
Bibbitec Shark Tank Pitch
During her appearance on Shark Tank, Bibbitec founder Susan Taylor pitched her multi-functional bib to the Sharks in hopes of securing a partnership. She and her husband asked for a $40,000 investment in exchange for a 14% stake in the company, which was valued at $285,714.
Despite positive feedback about the product, Mark Cuban felt that the Taylors needed a better salesperson and ultimately decided not to invest.
Barbara Corcoran was also hesitant, despite recognizing the potential for parent-to-parent sales. Kevin O’Leary considered the product to have low margins and left the deal, while Daymond John and Robert Herjavec felt that educating consumers about the product would be too difficult. Ultimately, Susan left the pitch without a deal.
However, after the Shark Tank segment aired, the company experienced a significant increase in sales. In fact, the weekend after the episode aired, Bibbitec sold approximately $40,000 in bibs.
This surge in sales was attributed to the “Shark Tank Effect”, where the show’s viewers become interested in a featured product and visit the company’s website to make a purchase.
Subsequently, Susan took her bibs to the New York Baby Show in May 2013 to further promote her product, and Bibbitec began gaining traction among consumers. However, in July 2018, Susan dissolved the company and stopped selling handmade bibs, and the website is no longer available.
During the Shark Tank pitch the company was valued at $285,714 and thereafter make some sales and finally shut its doors in 2018 the valuation of the company currently is unavailable in 2021.
Bibbitec Updates
Bibbitec is a multi-purpose bib made from water and spell-proof and recycled poly-nylon fabric with two different sides, one is a thin fleece and the other is a shell that repels everything that can be spelled by a kid.
The bib is larger than traditional bibs and is water, stain, and odor-resistant, and it wipes clean with a standard baby wipe, so it can be used multiple times throughout the day. Bibbitec was created by Susie Taylor, a momtrepreneur who appeared on Shark Tank in 2013.
She and her husband, Steve, were asking for $40,000 for a 14% share in the business. The business had $17,000 in sales over the past 12 months, mostly from online sales.
The sharks liked the product, but they were concerned that there was too much education about the product needed, so they all passed on the deal.
After the Shark Tank episode aired, Bibbitec’s sales surged. The company made $75,000 in sales the night the show aired, and that weekend it earned another $150,000. Unit sales went from 2-3 per day to about 1,500 per day but eventually leveled off at 50.
However, the company closed its operations in 2018 as it was not performing well in the market. It is unclear whether Bibbitec is still in business or if it will make a comeback in the future.
Bibbitec FAQs
What Is Bibbitec?
Bibbitec is a multi-purpose bib that is water, stain, and odor-resistant, and it wipes clean with a standard baby wipe, so it can be used multiple times throughout the day. It is larger than traditional bibs, so there’s less of a chance that baby’s clothes will get wet or messy from spills.
Bibbitec was created by Susie Taylor after becoming frustrated with traditional bibs that were too small and absorbed liquid and spilled food. The bib is made from a special, patented fabric that is non-toxic and engineered to be water and spell-proof.
The fabric is also odor-resistant and never smells while looking new. Bibbitec is designed for kids aged up to 7 years old and is suitable to be used as a full-body apron, a burp cloth, a changing pad, a breathable blanket, a placemat, and also as a covering for breastfeeding privacy.
The bibs come in three different sizes: small (mini) for babies; medium (ultimate) for toddlers; and large (smock) for kids.
In 2013, Bibbitec appeared on Shark Tank, where Susie and her husband Steve asked for $40,000 for a 14% share in the business. Although the sharks liked the product, no deal was made.
However, Bibbitec’s sales surged after the episode aired, making $75,000 in sales the night the show aired and earning another $150,000 that weekend. The company’s unit sales went from 2-3 per day to about 1,500 per day but eventually leveled off at 50 per day.
Unfortunately, Bibbitec is no longer in business.
How Does Bibbitec Work?
Bibbitec is a patented, multi-tasking bib that is water, stain, and odor-resistant. It is made from a special, patented fabric that won’t leave stains, never smells, and won’t leave an odor while looking new.
The bib is designed to be easy to clean and can be wiped clean with a standard baby wipe, so it can be used multiple times throughout the day. Bibbitec is made in the USA and the fabric is toxin-free.
Bibbitec was created by Susie Taylor, a momtrepreneur who became frustrated with traditional bibs that were too small and absorbed liquid and spilled food. She and her husband, Steve, appeared on Shark Tank in 2013, asking for $40,000 for a 14% share in the business.
The business had $17,000 in sales over the past 12 months, mostly from online sales. Although the Sharks liked the product, they felt that there was too much education about the product needed, and they all declined to invest.
Despite not getting a deal on Shark Tank, Bibbitec’s sales surged after the episode aired. The night the show aired, the company made $75,000 in sales, and that weekend it earned another $150,000.
Bibbitec had a good run, given its high price point. In hindsight, Barbara had the best idea for a sales strategy when she suggested that a sales force of moms could have made this product a big hit.
What Happened To Bibbitec After Shark Tank?
Bibbitec is a company that produces a multi-purpose and non-toxic super bib of torso length made from water and spell-proof and recycled poly-nylon fabric with two different sides. The company appeared on Shark Tank in Season 4, Episode 14, and asked for $40,000 in exchange for a 14% stake in their company.
However, they did not secure any investment from the Sharks because they did not guarantee a successful product.
Immediately after the Shark Tank episode aired, Bibbitec experienced a surge in sales. The night the show aired, the company made $75,000 in sales, and that weekend it earned another $150,000.
Unit sales went from 2-3 per day to about 1,500 per day but eventually leveled off at 50 per day. However, in 2018, the Taylors shut down the company.
What Is The Current Valuation Of Bibbitec?
The current net worth and valuation of Bibbitec are unknown as the company went out of business in 2018. When Bibbitec appeared on Shark Tank in 2013, it was initially valued at $285,000.
After the episode aired, Bibbitec’s sales surged, and the company made $75,000 in sales on the night of the show and nearly $40,000 worth of bibs on the weekend it aired.
Bibbitec was able to generate $10 million in revenues. However, the company was not successful in the market, and the founders closed Bibbitec Bibs in 2018.
In conclusion, Bibbitec’s net worth and valuation are unknown as the company went out of business in 2018. When Bibbitec appeared on Shark Tank in 2013, it was initially valued at $285,000.
The company was able to generate $10 million in revenues, but it was not successful in the market, and the founders closed Bibbitec Bibs in 2018.
Is Bibbitec Still In Business?
Bibbitec, a company that produces a multi-purpose bib for children, is no longer in business. The company was founded by Susie and Steve Taylor, who appeared on Shark Tank in 2013 to pitch their product.
The bib was made in the United States from toxin-free cloth and was designed to be water, stain, and odor-resistant. The Taylors asked for $40,000 in exchange for a 14% stake in their company, and the sharks were impressed with the product but ultimately did not invest.
After the Shark Tank episode aired, Bibbitec’s sales surged, with the company making $75,000 in sales the night the show aired and another $150,000 that weekend. However, the company was not performing well in the market due to competition from existing players in the same industry.
Bibbitec sold 3,000 units before shutting down its operations in 2018. The net worth of the company is unknown as of 2023.
In conclusion, Bibbitec is no longer in business, having shut down its operations in 2018 due to competition from existing players in the industry.
What is Bibbitec?
Bibbitec is water, stain, and odor resistant, and can be cleaned using a standard baby wipe. This makes it possible to utilize it frequently during the day.
Who is the founder?
Susie Taylor is the founder of Bibbitec.
Why was Bibbitec invented?
Susie Taylor invented the Bibbitec after being dissatisfied with a bib that absorbed moisture and spilled meals.
What is their offer on Shark Tank?
Susie was asking for $40,000 for 14% equity shares of their business at a valuation of $285,714.
Did they get the offer?
No, all Sharks declined their offer.
What do they look like?
They come in three tiny sizes for newborns, medium for toddlers, and large for older children who get sloppy on occasion.
They come in three tiny sizes for newborns, medium for toddlers, and large for older children who get sloppy on occasion.
How was Bibbitec created?
Bibbitec combines a burp cloth, changing pad, nursing shield, full-body bib, placemat, breathable stroller blanket, art smock, napkin, and apron.
Is Bibbitec safe?
The bib is made from 100% food-grade polyester. It can be used as a burp cloth, feeding bib, drying pad, changing pad, nursing shield, placemat, art smock, and napkin.
By using different combinations of the products it can function as many things as they like.
How do I use it?
The patented Bibbitec is multi-functional.
How is it made?
Bibbitec is constructed in the United States and the manufacturing process takes roughly one day to complete.
What does Bibbitec look like?
It’s reversible unlike every other bib one will ever see! The colorful side can be used as a baby burp cloth to protect your clothing from spit-up and drool.
How Bibbitec does make money?
Bibbitec takes a small cut of each retail sale, while the majority of money is made through royalties.
Where can I buy Bibbitec?
Bibbitec can be purchased online.
What is the business model?
The company makes money through royalties and takes a small cut of each retail sale.
When did they start the business, and how long have they been in this industry?
Bibbitec started in January 2011 when Susie was at home with her two kids after returning from maternity leave. She uses her bib for everything.
How do I pay?
Payments are made using PayPal or a credit card. There are online retailers, but there is no official brick-and-mortar location for this retailer.
Is there a website?
Yes, there is a website http://www.bibbitec.com/. But the website is no longer live.
