Bouquet Bar Shark Tank Update |What happened to Bouquet Bar after the Shark Tank Pitch?
Table of Contents
What was Bouquet Bar?
Bouquet Bar is a firm that allows consumers to create their own gift boxes or choose from one of their pre-designed boxes.
They select what they want to include online (roses, chocolates, candles, or succulent plants), and Bouquet Bar sends the gift box to the recipient. Bouquet Bar boxes range in price from $52 to $160.
The Bouquet Bar allows its customers to personalize their present box and its contents.
Here are boxes for every occasion (or non-event) when you wish to express your affection or friendship.
They may choose to offer remembrances, congratulations, encouragement, or condolences in one of a huge range of gorgeous boxes containing two to six items, including the “top-of-the-line” box including a stunning bouquet of flowers.
Who is the Founder of Bouquet Bar?
Alex Amidi, David Yusuf, and Sal Aziz created Bouquet Bar in early 2017. The first two previously launched a floral design business called Square Root Designs.
The concept for the Bouquet Bar as a giving platform arose from seeing a big number of their clients wish for something more distinctive to offer their loved ones.
By 2018, the Bouquet Bar has formed alliances with major corporations such as Google, Facebook, First Republic Bank, Oracle, and the Four Seasons Hotel.
They have also released their own brand chocolates, dummies, face creams, and nuts.
What happened to Bouquet Bar at the Shark Tank Pitch?
David, Sal, and Alex appear on Shark Tank season 9 episode 19 in search of $150,000 for a 10% stake in their company. This translates to a $1.5 million valuation.
They convey their narrative and hand out sample boxes to the Sharks. The Sharks like the high quality of the boxes. Mark wants to know if you can personalize boxes, and the answer is yes.
Daymond is looking for the figures. A little package costs $20 to produce and sells for $50. The medium package costs $34 and may be purchased for $75.
A big package costs $68 and sells for $155 dollars. Shipping costs $12-$15. In terms of income, they’ve made $100,000 in four months but aren’t yet profitable.
The three guys have invested $600,000 of their own money in the company. Half of that was spent on product development. They go on to say that they also have a 3,200 square foot facility.
They let the sharks know that they are ready to scale and that they have $3,000 worth of merchandise that can generate over $1.2 million in sales.
Lori believes their product is comparable to Sugarfina, therefore she’s leaving.
Sarah observes that the point of distinction is insufficient, yet she subsequently backs out of a contract.
Daymond mentions how tough and expensive it is, but he also drops out. He’s gone.
Kevin believes their client acquisition cost is too expensive, therefore he’s leaving.
Mark offers $150,000 for 20% and states that it is non-negotiable. When pressed for a response, the three immediately agrees.
Bouquet Bar after the Shark Tank Pitch
This company closed its doors in December of 2019. Alex and David’s work at Square Root Designs continues. Sal is still working at his internet agency, Adaptive Media.
Bouquet Bar Net worth
David, Sal, and Alex appear on Shark Tank season 9 episode 19 in search of $150,000 for a 10% stake in their company. This translates to a $1.5 million valuation.
They accepted an offer from Mark of $150,000 for 20% stake which brings valuation to be $750,000.
Bouquet Bar Competitors
Alternatives and rivals to Bouquet Bar include GiftStarter, Giftworthy, and Snappy Gifts.
Bouquet Bar FAQS
What was Bouquet Bar?
Bouquet Bar is a firm that allows consumers to create their own gift boxes or choose from one of their pre-designed boxes.
They select what they want to include online (roses, chocolates, candles, or succulent plants), and Bouquet Bar sends the gift box to the recipient.
The Bouquet Bar allows its customers to personalize their present box and its contents.
Who was the founder of Bouquet Bar?
Alex Amidi, David Yusuf, and Sal Aziz created Bouquet Bar in early 2017. The first two previously launched a floral design business called Square Root Designs.
What happened to Bouquet Bar Shark Tank?
Bouquet Bar was unable to reach an agreement with Mark Cuban. The firm, which formerly had a large social media following, has been inactive since May 2019, and the Bouquet Bar website has been deactivated.
How much was they seeking in the Sharks?
The Bouquet Bar wanted $150,000 for 10% equity.
Did they get the deal from the Shark?
Mark Cuban offered $150,000 for a 20% stake in the company.
Is Bouquet Bar still in business?
No. Bouquet Bar closed down in December of 2019.
Where was Bouquet Bar located?
Bouquet Bar was based in Irvine, California, United States.
When was Bouquet Bar founded?
It was founded in the year 2016.
How much was Bouquet Bar to purchase?
A little package was selling for $50. The medium package was selling for $75. A big package was selling for $155 dollars.
What episode of Shark Tank was Bouquet Bar featured?
The episode was season 9 episode 19.
Where are the owners of Bouquet Bar now?
Alex and David’s work at Square Root Designs continues. Sal is still working at his internet agency, Adaptive Media.
What is the website for Bouquet Bar?
No website exists for this company anymore.
How can they contact Bouquet Bar?
They are no longer in business.
When was Bouquet Bar featured on Shark Tank?
The Bouquet Bar was featured on Shark Tank on January 21st, 2018.
Was Bouquet Bar profitable?
No. The company closed down in December of 2019.
What is net worth of David Yusuf?
David Yusuf’s net worth is unavailable.
What is net worth of Alex Amidi?
Alex Amidi’s net worth is unavailable.
