CordaRoys Shark Tank Update | What happened to CordaRoys after the Shark Tank Pitch?

What is CordaRoys? Who is the Founder of CordaRoys?

CordaRoys is a unique bean bag chair that can quickly convert into a comfortable bed. It is filled with polyurethane foam, commonly used in couch cushions, and has a cotton/poly lining and machine-washable corduroy cover. It also comes with a lifetime warranty.

The company was founded by Byron Young, who came up with the idea while working for a liquidation firm and needing an extra bed for unexpected guests.

He saw the potential of using a bean bag as a more comfortable alternative to a sofa bed and started CordaRoys to manufacture and sell the convertible beanbag.

What happen to CordaRoys at the Shark Tank Pitch?

In March 2013, Byron, the founder of CordaRoys, appeared on Shark Tank season 4 episode 19 to pitch his product, a bean bag chair that can quickly convert into a bed.

He was seeking a $200,000 investment in exchange for 20% ownership of the company, valuing the company at $1 million.

He presented the beanbag as the most comfortable on the market, with the added feature of being able to convert into a bed.

The Sharks were impressed with the product, but Kevin O’Leary questioned the $1 million valuation and wanted to see sales figures.

Byron revealed that the previous year’s sales were $1.4 million with profits of $100,000. He believed the company was worth at least $5 million per year.

Mark Cuban was not convinced that the product was worth the asking valuation and went out. Kevin also went out.

Robert Herjavec was willing to invest the $200,000 for 40% of the company but only if Lori Greiner also invested. Lori offered $200,000 for 60% ownership of the company but Byron counter-offered with $200,000 for 40%. Lori settled for 58% equity and the deal went through.

CordaRoys after the Shark Tank Pitch

After appearing on Shark Tank, CordaRoys experienced a surge in popularity and the company’s website was temporarily offline due to high traffic.

The company received an update segment in Season 5 episode 519 of Beyond the Shark Tank. As a result of the exposure, Byron moved to a larger warehouse and the company made over $3 million in sales in 2014.

The product is widely available on Amazon and in retail stores, and Byron has been named one of Lori Greiner’s All Stars. The company continued to grow, landing a contract with Costco and moving to a 20,000-square-foot production facility in Alachua, Florida.

As of November 2021, the company has generated $10 million in lifetime sales and has an annual revenue of $5 million.

CordaRoys Net Worth

On Shark Tank, CordaRoys founder Byron sought a $200,000 investment in exchange for 20% of the company, which valued the company at $1 million.

He ultimately accepted an offer from Lori Greiner of $200,000 for 58% of the company, valuing CordaRoys at $344,827.59 based on the deal.

CordaRoys Competitors

CordaRoys main competitors are Ultimate Sack, Craftmatic, Savoir Beds, Amish Furniture Factory, Sumo Lounge, Jennifer Convertibles, Bedpost Furniture, and Taylor Furniture.

CordaRoys FAQS

What is CordaRoys?

CordaRoys is a one-of-a-kind bean bag chair that unzips to reveal a bed that is packed with the same material as a conventional mattress but is torn up for flexibility.

Who is the founder of CordaRoys?

Byron Young is the founder of the company.

How much was he seeking in the Shark Tank?

Byron was seeking $200,000 for 20% of the company.

Did he the deal from the Sharks?

Lori invested in CordaRoys.

How much was the deal?

Lori invested $200,000 for 58% equity of CordaRoys.

What episode of Shark Tank was CordaRoys featured?

CordaRoys was featured on season 4 episode 19, which was aired in March 2013.

Is CordaRoys still in Business?

Yes, CordaRoys is still in business and Young is still the owner/operator of CordaRoys.

Where can they purchase CordaRoys?

CordaRoys can be purchased on Amazon, as well as the shelves of Costco stores throughout the country

What is the material of a corduroy bean bag?

Polyfoam filling is used only in CordaRoys bean bags. That’s because their bean bags are more than simply bean bags; they’re also changeable furniture items.

CordaRoys bean bags have a mattress made of 100 percent safe polyurethane foam.

What became to CordaRoys on Shark Tank?

Since starring on Beyond the Tank, Byron has struck a contract that has landed his goods on the shelves of Costco stores throughout the country.

In October of this year, the firm relocated to a 20,000-square-foot production facility in Alachua, Florida. The company generated $10 million in lifetime sales that year.

Where are CordaRoys bean bags manufactured?

CordaRoys will keep producing bean bag chairs in Tupelo, Mississippi. It was once produced in Thomasville, Georgia.

The Alachua location will also house a new distribution facility, which will be highly required given the company’s recent sales surge as a result of “Shark Tank.”

What is the weight of a CordaRoys bean bag?

Specs. 30 pound weight Product Dimensions: 42 in. x 42 in. x 32 in.

Is the foam safe to use?

This is not the “small white beads” that children could inhale and choke on. This is polyurethane foam, the same foam that a pole vaulter lands on, except ours has been chopped into random shapes.

On their inner liners, they also employ high-quality, child-safe zippers that lock in the closed position for kid protection.

How comfy is the inner bed?

They are more comfy than airbeds and will never go flat in the middle of the night.

What countries do there ship to?

They provide free delivery to the contiguous United States, which covers return freight expenses. AK and HI are subject to an extra fee.

If they live outside of the contiguous United States, add items to their shopping cart and go to the checkout page for a shipping price.

FedEx is typically used as a shipping carrier.

They do not ship to PO boxes or APO addresses.

The client is responsible for international shipping (including returns).

Duty and taxes are not included in the price in Canada.

What is net worth of Byron Young?

Byron Young’s net worth is unavailable.