KudoBanz Shark Tank Update | KudoBanz after Shark Tank
What is KudoBanz?
KudoBanz is a company founded by Amanda Naqvi, a business owner and mother of three, that aims to help children improve their behavior and listening skills without resorting to timeouts or yelling.
The company uses a wristband with charm rewards for good behavior as a motivator.
Amanda was inspired to create KudoBanz as a way to be a more effective parent to her eldest son, and she draws on her passion for designing and developing things to run the company today.
Who is the founder of KudoBanz?
Amanda Naqvi, a business owner and mother of three, created KudoBanz as a way to improve her parenting skills.
She has always had a passion for designing and developing, which led her to create KudoBanz, a company she still runs today.
The product, a bracelet with miniature charms that can be scanned with an app, is based on the concept of positive reinforcement and aims to help children learn and grow.
Amanda’s own experience with her eldest son, who was three at the time, inspired her to create this product which not only helped her child but also helped her to become a better parent.
The company’s growth has been driven by hard work and determination.
What Happened to KudoBanz at Shark Tank pitch?
In episode 16 of Season 9 of Shark Tank, Amanda Naqvi and Hamza pitched their invention, KudoBanz, to the investors for a partnership opportunity.
Along with their children Mik’al, Ayaan, and Sofia, they were seeking $150,000 for a 10% stake in the company, which they valued at $1.5 million.
They mentioned that they had made $80,000 in sales since the summer of 2017 and were currently in talks with a retail store, Buy Buy Baby.
However, the Sharks were not impressed by the sales figures and all of them eventually backed out of the deal. Mark Cuban cited weak sales as the reason for his exit.
What Happened to KudoBanz after Shark Tank?
Despite not securing a deal on Shark Tank, Amanda believes that the experience helped her and her children gain confidence.
KudoBanz is no longer available in Buy Buy Baby stores as of June 2019 but can still be purchased on their website and through Amazon.
In August 2020, Mik’al and Ayaan introduced their new product, Ornament Anchor, on QVC.
The invention, which allows for easy hanging of decorations, was inspired by an ornament falling from their Christmas tree. As of June 2021, they have sold over 500,000 units and have an annual revenue of $1 million.
Net Worth of KudoBanz
The company’s value was estimated at $1.5 million during the pitch, and since then it has generated annual revenue of $1 million in 2021, resulting in an increase in the company’s net worth.
What is KudoBanz?
KudoBanz is a company that aims to assist children become better listeners and better behaviors without the need of timeouts and screaming.
It employs a band that children wear on their wrists to remind them of their objective. Good behavior awards additional charms, which motivates children to improve their behavior.
Amanda Naqvi created KudoBanz as a creative innovation. She is a business owner and the mother of three children.
Who is the founder?
Amanda Naqvi founded KudoBanz as a creative innovation. She is a business owner and the mother of three children. Amanda has always enjoyed developing and designing things on the computer since she was a child, which is how she came up with KudoBanz, a firm she still operates today.
How much were asking on Shark Tank?
They were seeking for $150,000 for a 10% stake in KudoBanz, which is valued at $1.5 million.
Did they get the deal?
No, they did not land any deal.
Is KudoBanz still in business?
Yes, it is still in business.
Where do I buy?
One can buy KudoBanz on this official website and in Amazon too.
What is the cost of KudoBanz?
The starter pack costs $29.99. Each starter pack includes a bracelet, charms and an activity journal. Customers can also purchase additional charms for $1 each.
Where can I learn more about KudoBanz?
One can get more information on KudoBank’s official website or follow them on any social network.
What are the KudoBanz colors?
KudoBanz colors are yellow and dark blue. The colors can be customized upon request.
What if my KudoBanz gets lost?
If anyone KudoBanz gets lost they can purchase a new one online at the creator’s site or by contacting their customer service team which is available through email address: email@example.com
What is their website?
KudoBanz website is http://www.kudobanz.com
Is KudoBanz a scam?
KudoBanz is not a scam; Amanda Naqvi is a real mom who has been developing this product since 2017. KudoBanz is also selling on Amazon, Buy Buy Baby and eBay.
What are the advantages of KudoBanz?
Many parents have employed KudoBanz for their children to change their behavior without timeouts. Parents report that it takes away the yelling and screaming of timeouts. The critiques make the idea more popular with parents that use it on their children.
How does KudoBanz make money?
KudoBanz earns revenue through sales of charms and bracelets.
What do the bracelets look like?
The bracelets come in different colors and designs. The starter pack provides a second wristband, which is optional to buy separately. Customers can purchase additional charms for $1 each.
What are the charms?
The charms are developed to motivate children to improve their behavior by providing an award when they please.
Where is KudoBanz located?
KudoBanz is located in Boston, Massachusetts.
What is the net worth of Amanda Naqvi?
Amanda Naqvi’s net worth is unknown.