Urbio Shark Tank Net Worth 2023
Jared Aller and Beau Oyler appeared on season 4 episode 13 of Shark Tank and requested $300,000 for a 12% ownership stake in their company, Urbio, which was valued at $2.5 million.
They later accepted a proposal from Lori Greiner, who offered $400,000 for a 15% stake in the company, which increased its value to $2.6 million.
As of now, the current net worth of Urbio is not publicly known as it was purchased by Honey-Can-Do International in February 2016.
What is Urbio? Who are the Founders of Urbio?
Urbio is a unique and modular system for urban gardening and organizing small spaces. Made from lightweight and durable polypropylene plastic with neodymium magnets, it can be used in a range of vessel sizes.
The magnetic design allows for easy installation on walls and the ability to rearrange the containers as desired, giving a sleek and modern look while saving space.
Originally intended for indoor gardening, the containers can also be used for storage in various areas such as the kitchen, garage, or bathroom.
Co-created by Jared Aller and Beau Olyer and their team at Enlisted Design, Urbio was developed as a solution to limited gardening space in urban environments.
Using Kickstarter, the team exceeded their goal of $15,000 for tooling expenses and raised over $77,000 in their 40-day campaign.
The magnets on the planting modules make it easy to remove them for watering, trimming, or harvesting, and the containers come in different sizes to meet a variety of needs.
Urbio Shark Tank Pitch
Jared Aller and Beau Oyler appeared on Shark Tank season 4 episode 13 to pitch Urbio, their modular gardening pots that can be stacked to save space for growing plants in urban areas.
They were seeking $300,000 for a 12% stake in the company, which valued the company at $2.5 million. The pots use magnets to attach to any metal surface, including their own metal plates.
The Sharks were impressed with Urbio’s early success, with the product already being sold in 50 countries and generating $125,000 in sales in just 5 months.
Mark Cuban withdrew from the negotiations due to a prior connection with the entrepreneurs. Kevin O’Leary was the first to offer, proposing $300,000 for a 20% stake, with the entrepreneurs being paid out of earnings.
Robert Herjavec counter offered with $400,000 for 20% ownership, including $100,000 for a full-time business manager.
Daymond John wasn’t as interested, but Lori Greiner made an offer of $300,000 for 20% stake, offering her marketing expertise in exchange.
After a a big store placed a $150,000 sales order, Lori increased her investment to $400,000 for a 15% stake, which was eventually accepted. Robert Herjavec also increased his bid to $400,000 for 17.5% stake, but the deal ultimately went to Lori Greiner.
After their appearance on Shark Tank, Urbio continued to be successful with Lori Greiner’s guidance. The product’s design and appeal continue to drive sales.
In 2015, Urbio’s parent company, Sabi Inc., was acquired by Sabi Space, which produces well-designed bathroom and kitchen accessories that are easy to install and provide unique solutions for storage and organization.
Then in February 2016, Honey-Can-Do International, a leading manufacturer of storage and organization products, acquired Sabi Space, and now sells the items under the brand name Perch.
What is the Net Worth of Urbio?
In Shark Tank season 4 episode 13, Jared Aller and Beau Oyler sought $300,000 in exchange for a 12% stake in their company, Urbio, which valued the company at $2.5 million.
They ultimately accepted an offer from Lori Greiner of $400,000 for a 15% stake, raising the valuation of the company to $2.6 million.
In February 2016, the company was acquired by Honey-Can-Do International, so the current net worth of Urbio is not publicly disclosed.
Who are the Competitors of Urbio?
Plants On Walls, Tower Garden, and YP Supplier are Urbio’s top three rivals.
Urbio FAQS
What is Urbio?
Urbio is an innovative modular solution for urban gardening and small-space organizing. Urbio is a recyclable product made of lightweight and durable polypropylene plastic with neodymium magnets. It is available in a number of vessel sizes.
What is the Target Market for Urbio?
Urbio is intended for small spaces with limited gardening area.
Who founded Urbio?
Jared Aller, Beau Olyer and partners of Enlisted Design are the founders of Urbio.
How much were they seeking in the Shark Tank?
They were seeking $300,000 in exchange for 12% ownership in Urbio.
Did they get the deal?
Yes, they accepted an offer from Lori of $400,000 for 15% ownership in the company.
Is Urbio still in business?
Honey-Can-Do International, a prominent producer of storage and organization items, purchased the firm in February 2016. They are currently selling the items under the brand Perch.
Where is Urbio located?
Urbio is located in Berkeley, Illinois.
What is their shipping policy?
They produce and dispatch their items within 24 hours after receiving an order.
They have a 2:00 p.m. ct cutoff time for guaranteeing 2-Day and Next-Day delivery, so if you place an order with one of those shipping requests, it must be submitted by 2:00 p.m. ct to receive their delivery in the period you selected.
What is the company’s return and warranty policy?
HCD may, at its discretion, give a comparable product or a replacement part within 60 days after purchase and with proof of purchase, as long as items were obtained through approved sales channels.
This guarantee does not apply to damage caused by negligence, misuse, excessive use, inappropriate cleaning, inappropriate assembly, or any other cause not directly attributable to manufacturing defects.
Proof of purchase in the form of a receipt/confirmation is necessary, and proof of damage may be sought to validate the warranty.
What is the company’s return policy?
They do not accept returns on products that have been damaged due to regular wear and tear or after 60 days of usage.
If a return is allowed for purchases exceeding $500, the client will be liable for postage as well as a 15% restocking fee of the subtotal.
What happened to Urbio?
Urbio is now called Perch by Honey-Can-Do.
What is their shipping costs?
Free shipping on sales of $150 or more | $8.99 flat freight on orders of less than $150.
What methods of payment do they accepts?
They accepts Visa, MasterCard, PayPal, Shop Pay, Venmo, Apple Pay and Amex.
What materials are Urbio made of?
Urbio is made of polypropylene plastic with neodymium magnets.
When was Urbio aired on Shark Tank Pitch?
The Urbio proposal was aired on episode 13 of season 4 on January 11, 2013.
What is website of Honey-Can-Do International?
Their website is www.myurbio.com
What is the net worth of Jared Aller?
Jared Aller’s net worth is unavailable
What is the net worth of Beau Oyler?
Beau Oyler’s net worth is unavailable.
