Brellabox Shark Tank Update | What Happened to Brellabox after the Shark Tank Pitch?
What is Brellabox?
Brellabox was an umbrella rental business aimed towards both city people and college students. The firm intended to rent umbrellas for $1.50 each 12 hour period.
The service was designed to stop the practice of purchasing low-cost umbrellas just to discard them after they were damaged. Because inexpensive umbrellas have a short shelf life, Brellabox was the best option.
Who is the creator of Brellabox?
Brellabox was founded by John O’Connor and Anusha Kambhampaty, who introduced the idea on Shark Tank in 2016.
John O’Connor still runs JSO Digital in Austin, Texas.
He founded a firm that assists individuals in customizing their diets and lifestyles based on their genetic make-up.
Anusha Kambhampaty, an NYU graduate, is presently the Director of Business Development at Progenics Pharmaceuticals.
Brellabox was created as an eco-friendly alternative to poorly constructed umbrellas.
The vending machine would deliver umbrellas to customers for a maximum of 12 hours.
A benefit of the umbrella rental business was the ability to return a broken umbrella to the vending machine.
Their goal was to deploy as many umbrella vending machines as possible for convenience.
The primary demographics were college students and city inhabitants.
While the firm rented out umbrellas, there was also the opportunity to purchase and own the product.
They cooperated with schools for test runs, thus their concept was pre-revenue before coming to Shark Tank, but the entrepreneurs remained optimistic.
The locations were displayed on the Brellabox app, making it quick and easy to find a machine.
The trial program in New York City was a huge success, and the firm was planning to expand to more campuses, including Michigan State and Penn State.
They are also discussing machine installation with big corporate campuses and hotel companies.
The equipment and umbrellas were sold or leased to generate revenue for the firm. There were also adverts on the umbrellas, which generates additional cash.
What happen to Brellabox at the Shark Tank Pitch?
John O’Connor and Anusha Kambhampaty appear on Shark Tank season 7 episode 26 in search of a $400,000 investment in exchange for a 20% stake in ‘Brellabox.’ This represents a valuation of $2 million.
Despite some press coverage and inquiries from universities about installing the boxes on campus, the Sharks remain sceptical.
Mark Cuban is interested in the numbers. John says that a 12-hour rental costs $1.50. Unreturned umbrellas are charged $40.
John explains that the colleges get an 85/15 split, with the corporation getting the other 85 percent.
To maximize profits, they also allow advertising sponsorship on the machines and umbrellas.
The Sharks are only mildly interested until John reveals that the product was produced in a trial run, but the umbrellas were free.
Kevin O’Leary despises the concept. He informs the couple that he would “put a stop to this lunacy right now,” since this is “perhaps the dumbest concept I’ve ever heard on Shark Tank.” He’s officially out.
Mark Cuban is interested in learning more about the cost and profit split. The cost to produce a limited run of 50 units is $1,150 per machine. If they purchase 200, the price reduces to $975.
As a brand marketing technique, the umbrella manufacturers provide the goods to fill the machines for free.
Daymond John isn’t sold on the idea’s convenience. He argues that hiring an umbrella while it is raining, as well as the inconvenience of returning the umbrella later, are too expensive.
Chris Sacca lives in California and claims that his garments are almost rainproof, so he isn’t interested. He’s gone.
Barbara Corcoran is curious about pre-orders. John reveals that they have a deal with one institution for four boxes and are in discussions with two others.
Mark Cuban – believes it is a lot of money for a small portion of the firm with a lot of uncertainty. He’s gone.
Barbara stated that there is an additional layer of work that must be completed in order for the firm to be successful. Barbara left, claiming that the transaction made no sense.
Daymond John admires the entrepreneurs’ hard ethic, but he doesn’t believe the idea will take off. He’s gone, and John and Anusha thanked them before leaving.
Brellabox after the Shark Tank Pitch
Since its appearance on Shark Tank, ‘Brellabox has continued to work on lowering the price and reducing the box’s footprint in order to make it more appealing to potential clients such as cities and colleges.
They were able to get a contract with Penn State and expand the number of trial locations in New York City.
The firm is developing slowly but steadily and has not yet gone bankrupt. Coming to the Sharks pre-revenue is always dangerous, and it appears as though Brellabox’s risk did not pay off.
It remains to be seen whether they will have bright days ahead of them or will be rained out.
Regrettably, this firm ceased operations in April 2018.
According to LinkedIn, NYU graduate Kambhampaty is currently the Director of Business Development at Progenics Pharmaceuticals, a publicly traded business best recognized for its prostate cancer treatment medications.
And John O’Connor continues to operate his digital marketing firm JSO Digital in Austin, Texas, where he just created Gene Food, a company that assists individuals in tailoring their diets and lifestyles to their genetic composition.
Brellabox Net Worth
John O’Connor and Anusha Kambhampaty appear on Sharks Tank in search of a $400,000 investment in exchange for a 20% stake in ‘Brellabox.’ This represents a valuation of $2 million.
Brellabox Competitors
There is no competitor identified for Brellabox.
Brellabox FAQS
What is Brellabox?
Brellabox was an umbrella rental business aimed towards both city people and college students. The firm intended to rent umbrellas for $1.50 each 12 hour period.
The service was designed to stop the practice of purchasing low-cost umbrellas just to discard them after they were damaged
Who is the founder of Brellabox?
John O’Connor and Anusha Kambhampaty founded Brellabox.
How much were they seeking in the Shark Tank?
John O’Connor and Anusha Kambhampaty appeared on the Shark Tank in search of a $400,000 investment in exchange for a 20% stake in Brellabox.
Did they get the deal from Sharks?
Unfortunately, the founders was unsuccessful in their pitch to the Sharks.
Is Brellabox still in business?
Brellabox ceased operations in April 2018.
When was Brellabox aired on Shark Tank?
Brellabox was aired on April, 29th 2016.
What episode of Shark Tank featured Brellabox?
Brellabox was on season 7 episode 26 of Sharks Tank.
How much was costs to rent an umbrella?
Each umbrella could be rented for $1.50 each 12 hour period.
How much were they charging for unreturned umbrella?
The business owners charged $40 for unreturned umbrella.
When was Brellabox founded?
Brellabox was founded in early 2014.
What is the net worth of John O’Connor?
John O’Connor’s net worth is unavailable.
What is the net worth of Anusha Kambhampaty?
Anusha Kambhampaty’s net worth is unavailable.
