InchBug /MyDrinky Shark Tank Net Worth
During her appearance on Shark Tank in 2016, Brenda Lee Feldman was seeking a $400,000 investment in exchange for a 10% stake in her company, InchBug / MyDrinky. This valuation suggests that the company was worth $4 million at the time.
Since then, the company has continued to grow and expand its product line, including the introduction of the Orbit Label 2.0 and additional symbols. Despite not securing a deal with the Sharks, InchBug / MyDrinky has been successful in the market, with annual revenues reaching $5 million.
While the exact net worth of the company is not publicly disclosed, it is clear that InchBug / MyDrinky has built a solid foundation and established itself as a well-known and respected brand in the baby and toddler product industry.
What is InchBug and Who Founded InchBug /MyDrinky
InchBug is a company based in Austin, Texas, known for creating The Original Orbit Label, a customized, non-adhesive, and reusable label designed to fit around baby bottles and Sippy cups. This product is particularly useful for large families, schools, and daycare centers.
The company’s founder, Brenda Lee Feldman, launched the business in 2004 with the InchBug Orbit Labels, which are stretch-and-release bands that can be personalized with a child’s name and fit snugly around a variety of containers.
Feldman came up with the idea for the Orbit Label when her child was attending a Mother’s Day Out program and required her Sippy cups to be labeled to prevent cross-contamination and the spread of pathogens.
Permanent markers and tape proved to be ineffective solutions, prompting Feldman to create The Original Orbit Label.
In addition to the Orbit Label, InchBug has expanded to include sticky labels that can be used as allergy alerts on clothing, items, or food and can also be personalized with a child’s name. The company has also created a popular product called MyDrinky, which is an adjustable juice box holder designed to prevent spills and messes.
Feldman appeared on Shark Tank to pitch her latest creation, the MyDrinky juice box holder.
InchBug /MyDrinky Shark Tank
InchBug, a company that is best known for its non-adhesive and reusable labels, The Original Orbit Label, was pitched on Shark Tank. Additionally, the company offers other products such as training pants, bibs, cutlery, swim goggles, and more.
During the pitch, Brenda Lee Feldman sought $400,000 for a 10% stake in her company, valuing it at $4 million. While the Sharks were impressed with the labels, they were underwhelmed by MyDrinky, a juice box holder that Brenda was trying to bring to market.
She had only sold $50,000 worth of MyDrinky, leading the Sharks to question the high valuation.
Robert Herjavec and Mark Cuban decided to pass on the opportunity, while Barbara was not interested in MyDrinky’s concept. Lori also declined to invest. However, Mr. Wonderful offered $400,000 for a $1 per unit royalty until he recoups his $1.2 million investment, asking for 5% of the company.
Although Kevin promised to promote the brand on social media, Brenda was hesitant about his condition that he wouldn’t go into retail.
Ultimately, Brenda declined the offer, leaving the tank without a contract. Despite this setback, she continued to expand the business, with MyDrinky eventually becoming available for purchase on the InchBug website, as well as Amazon and other online retailers.
In August 2021, Brenda introduced Orbit Label 2.0, which features contrasting personalization without the need for ink or paint and is made entirely of kid-safe silicone. The company’s annual revenue is now $5 million.
InchBug /MyDrinky Net Worth.
On Shark Tank 2016 Brenda comes looking for $400,000 for a 10% stake in her company. This indicates a $4 million value.
InchBug /MyDrinky Competitors
There is no competitors.
InchBug /MyDrinky FAQS
Is InchBug still in operation?
She’s still in business, with a thriving Amazon store.
Can InchBug labels go in dishwasher?
Their labels have all been designed and tested to withstand the rigors of a dishwasher and microwave.
Can they write on InchBug Orbit labels?
Except for the 2 oz. preemie bottle and the 4 oz. normal bottle, the Orbit Labels suit all Dr. Brown’s bottles. Writing on any of the custom labels is not recommended by InchBug.
Do Orbit labels fit Dr. Brown bottles?
Dr. Brown’s ordinary 4 oz. bottles do not fit 3D Icon Orbit Labels.
How do they label kids water bottles?
It’s easy: They remove the transparent top flap and write their student’s name on the lower paper portion.
After that, take off the backing and press to seal. Finally, a waterproof label! Stick the label on anything — lunch boxes, drink containers, they name it — and it will last for months in the dishwasher.
What are the Orbit Labels made out of?
An elastomeric material that meets Food and Drug Administration (FDA) Regulation 21CFR 177.2600. This material is similar to that used in pacifiers and infant bottle nipples.
This substance was chosen since it is non-toxic and has long-lasting properties that can sustain regular use.
To back-fill the customization, they do not use paint or ink.
How durable is an Orbit Label?
Orbit Labels are made from a high-quality material that has been proved to survive dishwashing, boiling, and microwaving.
The life expectancy of the Orbit Labels is difficult to determine since there are several elements to consider, such as over-stretching.
What do they get in one Orbit Label package?
They may now pick between a 2-pack and a 4-pack of Orbit Labels as of June 2021. Each personalized Orbit Labels bundle features labels in a single colour with similar customization.
How many colours can they select per package of Orbit Labels or Adhesive Labels?
Because all labels within a set must have the same colour (unless otherwise specified), only one colour can be used per package.
Do they need to remove the Orbit Labels before placing in the dishwasher, sterilizing, or microwaving?
No! Orbit Labels have been created and tested to resist frequent dishwashing, boiling, and microwave use. The Orbit Label is not going to peel, fade, or wash away.
How does one buy InchBug products?
By visiting their official website, they may purchase most of their products without difficulty. They can also get their products from Amazon and Buy Buy BABY which is owned by Bed Bath & Beyond.
How do InchBug /MyDrinky makes money?
By selling their products.
Did InchBug /MyDrinky secure an investment from the Shark Tank?
InchBug /MyDrinky fail to secure an investment from the Sharks.
What did InchBug /MyDrinky do after Shark Tank?
Brenda did get into Buy Buy Baby and some other mom and pop shops. She’s still in business and has a vibrant Amazon store and the annual sales is $5 million.
What are the strengths of InchBug /MyDrinky?
Orbit Labels are versatile and simple to use that can be applied to a wide range of objects. Also, they are the first personalized labels on the market that meet FDA regulation 21 CFR 177.2600.
What is their target audience?
Orbit Labels are for a range of households with kids across the country. It is essential that they know the size of their child’s drinking container before they select a label.
Where is InchBug, headquarters?
InchBug, headquarters is located at Austin, United States.
What is InchBug, industry?
InchBug is in the industry of Converted Paper Product Manufacturing.
What is InchBug, phone number?
InchBug phone number is (512) 837-1010.
What is InchBug website?
InchBug, website is www.inchbug.com.
How many employees does InchBug have?
InchBug has 10 employees.