Junobie Shark Tank Net Worth-What Happened After Shark Tank?
Junobie Shark Tank Net Worth
At the time of the shark tank pitch, Junobie was estimated to be worth $444k. During the pitch on Shark Tank, the founder, Nikeytha Ramsey, got a $100,000 investment for 22.5% equity in Junobie.
After the show, Junobie received a lot of free marketing and gained many customers who found the product useful.
The sales of their product increased significantly after appearing on Shark Tank, and their products are now available on Amazon and the company website.
Initially, Junobie’s founder went to the show seeking a $100,000 investment in exchange for 10% equity in her company valuing the company at $1 million.
Junobie products can be bought by interested buyers either from the company’s website or through Amazon. The company’s basic reusable breastmilk storage bag is available in a 2-pack deal priced at $19.99 and a 4-pack deal at $34.99. In addition, Junobie offers a Gen 2 model, which is a 2-pack priced at $21.99.
What Is A Junobie? Who Is The Founder Of Junobie?
Junobie is a brand that produces reusable breastmilk storage bags made of food-grade silicone. The bags are free from BPA, BPS, phthalates, and lead. They are leakproof, stand up, lay flat, and slide shut. The unique lock slider keeps milk secure while at home or on-the-go. Junobie bags are easy to sterilize and dishwasher and freezer safe.
Junobie bags are the world’s first eco-friendly and reusable breastmilk storage bag that helps reduce plastic waste. Silicone is naturally bacteria-resistant so it helps keep milk fresher for longer. The bags come in various colors to match your personality and style.
In summary, Junobie is a brand that produces reusable breastmilk storage bags made of food-grade silicone. These bags are free from harmful chemicals such as BPA, BPS, phthalates, and lead.
They are leakproof, stand up, lay flat, slide shut with a unique lock slider to keep milk secure while at home or on-the-go. Junobie bags are easy to sterilize and dishwasher and freezer safe.
The founder of Junobie is Nikeytha Ramsey. She is a working mother of two who created the world’s first reusable breast milk bag after returning from her second maternity leave and being unhappy with the impractical options for breast milk storage.
Ramsey worked as a travelling speech-language pathologist before becoming a CEO. She struggled with plastic and glass breast milk storage options while breastfeeding her younger child, and soon realized that a reliable, reusable alternative wasn’t out there.
Junobie bags are made from FDA-approved, food-safe silicone for worry-free storage. Silicone is naturally heat tolerant and bacterial-resistant, making it perfect for keeping breast milk safe.
The chic colors of the bags are also by design, as Ramsey hopes the bold hues will help mothers celebrate with the option of being discreet at the same time.
Her daughter has become a mini product developer in her own right after looking up to her mother’s entrepreneurship, which put another black-owned business on the map.
What Happened To Junobie At The Shark Tank?
The founder of Junobie, Nikeytha Ramsey, appeared on Shark Tank Season 13 Episode 14 seeking $100,000 for 10% equity in her company.
The Sharks inspect the product and are impressed with its ease of use and standing capability. Nickey explains that she invented the product when she needed to produce more milk for her son.
Junobie retails at $34.99 for a four-pack and $19.99 for a two-pack, with landed costs of $7.80 and $4 respectively.
Kevin is impressed with the margins, while Emma wants to know about the competition. Nickey explains that knock-offs have started to appear in the marketplace, but they are of inferior quality.
Nickey has sold $86,000 worth of Junobie bags in 2021, and expects to sell $300,000 by the end of the year. However, she needs money for inventory.
Kevin decides not to invest, while Mark and Lori opt out as well. Emma offers $100,000 for 25% of the business, and Barbara also expresses interest in the offer. Nickey counters with $150,000 for 12%, but Emma declines.
Mark urges Nickey to take Emma’s offer, and Nickey ultimately agrees to Emma’s offer of $100,000 for a 22.5% equity stake in her company.
What Happened To Junobie After The Shark Tank?
After appearing on Shark Tank, Junobie’s founder Nickey got a deal with Emma Grede for $100,000 in exchange for 22.5% equity of her company. In a post-show interview, Nickey called the deal “life-changing”.
As of June 2022, Junobie had an annual revenue of $1 million. By February 2023, Nickey added milk warming cups, milk boxes, trays, jars and snack stash bags to the line. She also added online lactation counseling services.
Is Junobie Still In Business?
Yes, Junobie is still in business as of march 2023. The company sells reusable breast milk storage bags made from silicone that are free from BPA, BPS, Phthalates, and Lead.
The bags are easy to sterilize and dishwasher and freezer safe. Junobie’s innovative breast milk storage bags have earned $86,000 in year-to-date sales and are projected to do $300,000 by the end of the year.
Did Junobie Get A Deal On Shark Tank?
Yes, Junobie got a deal on Shark Tank. Nikeytha Ramsey founded Junobie in February 2019, and the company makes eco-friendly and reusable breastmilk storage bags.
Before appearing on Shark Tank, Junobie had made $86,000 for the year, which was expected to go up to $300,000 by the year’s end. During her pitch on Shark Tank, Emma Grede offered $100,000 for 22.5% equity in Junobie.
Nikeytha countered with a request for $100,000 for a 12% equity stake. Emma refused this immediately but decided to bring her offer down a little to compromise.
Her final offer to Nikeytha was $100,000 for 22.5% equity in Junobie. The Sharks advised Nikeytha that this was her best available option, and after considering it, she accepted.
After being featured on Shark Tank, Junobie got a lot of free marketing that made it easier for its product to reach people in the United States. The company did thousands of dollars in sales in one week after getting a deal on Shark Tank.
