QBall Shark Tank Update Net Worth 2023
Shane participated in an episode of Shark Tank where he was seeking $200,000 in exchange for a 15% stake in his company, which was valued at $1.3 million. However, he ultimately accepted a different offer from Mark, Lori, and Rohan, who invested $300,000 in exchange for a 30% stake, resulting in a lower valuation of $1 million.
Since then, the company has experienced growth and its current valuation is higher than the initial $1.3 million valuation.
Not long after the show aired, the company integrated with Alexa. In the two years following the episode, the company achieved $3.9 million in sales. As of December 2022, the company is still operating and generating $1 million in annual revenue.
What is QBall?
The Qball is a wireless microphone that has a unique feature of being able to withstand rough handling, such as being passed, thrown, dropped or rolled, due to its lightweight, soft, and resilient foam construction. To avoid unpleasant sounds during its movement, the Qball automatically turns off when in flight.
Additionally, the Qball has a Battery-Saver function, which preserves power by switching to standby mode after ten minutes of inactivity. It is perfect for use in events, conferences, schools, and audience participation.
The founder of Qball is Shane Cox, based in Salt Lake City, Utah. After noticing that traditional methods of encouraging students to speak up, such as using a talking stick or passing around cumbersome microphones, were not effective, Cox created the interactive Qball to make classroom participation more fun and engaging.
After a successful Indiegogo campaign in October 2015, where Cox and two others raised $46,895, the Qball moved to the mass-production phase. It is now available for purchase at $179 per system, with a ten-hour battery life and a range of approximately 75 feet from the signal source.
What Happened to QBall at the Shark Tank Pitch?
Shane made an appearance on the second episode of season 9 of Shark Tank, seeking $200,000 in exchange for a 15% stake in his company. This would value his company at $1.3 million.
During his pitch, Shane demonstrated his product and Mark spoke into it using a Q Ball. When Lori expressed interest in trying it out, Shane believed Mark was better suited and gave her a “blank.”
Shane disclosed that his product had a selling price of $179 and a manufacturing cost of $52. He also shared that his company had generated $177,000 in total sales, with 90% of those sales coming from public speakers and research organizations buying for schools and other customers.
When Lori asked about his patent, Shane revealed that he had filed for a patent for the feature that allowed the product to be thrown without making a noise. He anticipated earning $650,000 by the end of 2017 and believed that once one teacher used his product, others would follow suit, prompting him to invest in acquiring more goods.
Robert, who owned a multinational cybersecurity firm, was skeptical about the investment, believing that selling to companies would be easier. Despite this, Lori, Rohan, and Mark decided to offer Shane $300,000 for a 30% ownership stake. Shane countered with a 25% stake, but eventually agreed to their terms.
The deal was successful, and the company merged with Alexa, resulting in $3.9 million in sales in the two years following the episode’s air date. As of November 2021, the company is still in business and has an annual revenue of $1 million.
What is Net Worth of QBall?
Shane appeared on Shark Tank season in search of $200,000 for a 15% stake in his company. This translates to a $1.3 million valuation.
He accepted an offer from Mark, Lori and Rohan of $300,000 for 30% stake which brings valuation to be $1 million.
Current valuation is evidently higher since the Company has grown.
Who are the Competitors of QBall?
QBall face some faces competitions in its market space from other companies such as;
Tonor and Rode Microphones.
QBall Shark Tank Updates
QBall is a throwable, pliable ball with a built-in microphone designed to be used in classrooms, meetings, and presentations.
Shane Cox, the CEO of PEEQ technologies, appeared on Shark Tank in 2017 seeking $200,000 for 15% equity in exchange for his invention.
The sharks Lori, Rohan, and Mark made a deal with Shane, and the company did $3.9 million in sales in the two years following the initial air date. As of December 2022, QBall is still in business and generating $1 million in annual revenue.
After the show, QBall integrated with Alexa and received many orders from schools on trial periods3. The company has expanded its market to include the business sector, and there are many positive reviews of the product.
QBall is still in business and growing more popular every year, with annual revenue of $3.9 million in the two years following the initial air date. As of December 2022, QBall is generating $1 million in annual revenue.
What Is Qball And How Does It Work?
QBall is a throwable, wireless microphone that is designed to improve classroom learning by making sure everyone is heard clearly and loudly.
It is a microphone in the shape of a soft and lightweight ball that can be thrown around easily. The QBall is made of a light, soft, and durable foam and features a battery life of 10 hours, a 75-foot operating range, quiet toss capabilities, and automatic frequency selection.
It is a portable and throwable wireless microphone that can be used in the classroom, Q&A, presentations, and meetings.
The QBall system is designed to work with any type of speakers a teacher already has in their class, including a classroom audio system.
The main benefit of the QBall is that it encourages student participation in classroom discussions and adds a kinesthetic touch to classroom conversations, Socratic discussions, and moments when a whole or small group of students come together to talk about their learning.
The QBall encourages students to participate, and like a talking stick or similar tool, it helps manage classroom discussions — if you have the ball, you have the floor.
It amplifies the voice of every student, making it perfect for large classrooms and small classrooms, where students can benefit from hearing and understanding their peers clearly.
Who founded QBall?
Shane Cox of Salt Lake City, Utah, is the creator of Qball.
What Was The Outcome Of Qball Shark Tank Pitch?
In Season 9 Episode 2 of Shark Tank, Shane Cox pitched his idea for QBall, a throwable, pliable ball with a built-in microphone, to the sharks.
He was seeking $200,000 for 15% of his company. The sharks were impressed with the product and its potential, and Lori, Rohan, and Mark made a combined offer that Shane accepted.
Since then, QBall has been integrated with Alexa and has done $3.9 million in sales. As of December 2022, QBall is still in business and has an annual revenue of $1 million. The company is growing more popular every year, especially in the youth market.
What Happened To Qball After Its Appearance At The Shark Tank?
After appearing on Shark Tank, QBall received a deal from Lori, Rohan, and Mark for $300,000 for 30% of the company.
Since then, QBall has expanded and netted millions, generating a revenue of $3.9 million in the two years after the show. The company has integrated with Alexa and has continued to grow in popularity, especially in the youth market.
QBall is still in business and has an annual revenue of over a million dollars as of November 2021.
The company has also made improvements to the product, including a battery that lasts over twelve hours. QBall is a unique and wholesome success story that has positively impacted both teenagers and adults.
How much was he asking in the Shark Tank?
Shane asked for $200,000 in exchange for 15% equity.
Did he get the deal from the Sharks?
Yes he did secure the deal from Mark, Lori and Rohan.
How much was the deal?
The deal was $300,000 for 30% stake in the company, which brought the valuation of Qball to $1 million.
Where can they buy QBall?
Qball is sold on Amazon and on the company website.
How much does the QBall cost?
The QBall, which costs $179, has a 75-foot operational range, automated frequency selection, and silent toss capabilities.
What is the website address of QBall?
The official website is www.peeq.us or www.buyqball.com
Where is QBall located?
Qball is manufactured and distributed in Fuquay-Varina, North Carolina.
When was QBall aired on Shark Tank?
Shane Cox appeared in Shark Tank season 9 episode 2 in 2016.
What is the name of the episode?
The episode titled of Qball was aired on October 1st, 2017.
What is their Returns Shipping policy?
They will be liable for their own shipping fees when returning their merchandise. The cost of shipping is non-refundable.
What is their refund policy?
When they get their goods, they will check it and tell them that it has been returned. After checking the goods, they will tell customers of the status of their reimbursement.
If their return is accepted, a refund will be issued to their credit card (or original method of payment).
What is their Standard Shipping Times?
Please keep in mind that purchases are usually sent within 10-15 business days. If they want expedited shipment or further information, please contact them at [email protected].
Single-item purchases are normally shipped by USPS, however purchases of two or more items are often shipped via FedEx.
What is Qball made of?
Qball is made of soft, lightweight, resilient foam.
What is the net worth of Shane Cox?
Shane Cox’s net worth is unavailable.