VaBroom Shark Tank Net Worth 2023
As of 2023, VaBroom is worth an estimated $10 million. The founders of VaBroom, Trevor Lambert and John Vadnais, have a net worth of $2.25 million as of 2022.
In 2019, they launched the company with a successful Kickstarter campaign that raised $74,494. They appeared on Shark Tank Season 13 Episode 11 in search of $350,000 for a 2.5 percent stake in their firm.
This indicates a $14 million valuation. Kevin O’Leary invested in the company and secured a deal with the founders.
VaBroom is still selling for $59 on their website. The product is a combination of a vacuum cleaner and broom that uses vacuum-like suction technology to clean floors without the need for a dustpan.
What is VaBroom? Who is the Founder of VaBroom?
VaBroom is a cleaning product that aims to make cleaning easier and more enjoyable by combining a broom and a vacuum into one device.
It has a built-in vacuum that can pick up dirt and debris without the need for a dustpan. The device is powered by a rechargeable lithium battery and is activated by tilting the broom.
Using VaBroom is straightforward: brush dirt and debris onto the floor, then tilt the broom and push the suction nozzle on the floor to start the vacuum and clean up the debris.
The device has a 1-cup debris capacity, and the pressure-activated nozzle eliminates the need for a dustpan, making cleaning more comfortable and efficient.
The founders of VaBroom are Trevor Lambert and John Vadnais. Trevor Lambert is the founder of Lambert Licensing, which he established after graduating from the University of St. Thomas in 2000.
He also founded Enhance Innovations in 2010, a company that focuses on designing and manufacturing consumer products.
John Vadnais graduated from Bemidji State University and is the manager and master plumber at Roger Vadnais Plumbing, Drain and Sewer Cleaning. He is also the president of Vadco Innovations LLC.
VaBroom was initially launched under the name Enhance Innovations, and Trevor Lambert’s previous experience in marketing and licensing helped the product gain traction quickly.
The company was launched in April 2019 through a Kickstarter campaign that raised $74,494 and raised an additional $78,350 on IndieGoGo.
However, production delays caused by the Covid-19 epidemic meant that the product wasn’t delivered until October 2020.
Trevor Lambert’s design business, Enhanced Product Development, has assisted clients with licensing items to retailers such as Walmart, Target, Lowes, Bed Bath & Beyond, and others.
With a growing client base and an increase in revenue, Trevor and John lowered the product’s price from $79.99 to $59.99. VaBroom is currently available for purchase through their website and Amazon.
VaBroom Shark Tank Pitch
Trevor and John made an appearance on Season 13 Episode 11 of Shark Tank to seek $350,000 for a 2.5% stake in their firm, indicating a $14 million valuation.
During their presentation, they introduced and demonstrated their product, which received positive feedback from Kevin, who also tested the product on stage.
The Sharks were given samples of the product, which they scrutinized while Trevor discussed how he founded his design company, and John talked about how he invested in VaBroom as a fourth-generation plumber.
The company made $3.1 million in sales in the previous year and projected to make $5 million in the following year, as they exclusively sold their products directly to consumers.
They had a successful two-month test supply of merchandise at Bed Bath & Beyond, which sold out in two weeks.
The product costs $17 to land, $37 to wholesale, and $59.99 to retail, with the profits being entirely reinvested in inventory, resulting in $307,000 earnings from the $3.1 million sales.
Lori inquired about their patents, to which they responded that they were working on an international patent and a US design patent.
She also wondered what distinguished their product from a Dustbuster, to which they replied that it is beneficial for people with mobility issues.
John invested $200,000, and they raised the remainder through Kickstarter and their design company. The design company receives a 5% royalty from VaBroom.
Mark expressed his concern about their efforts to separate the design business, and therefore he was out.
Peter enjoyed the pitch but didn’t believe it addressed the pain area, so he was out. Daymond stated that they were either greedy or seeking publicity, so he was out.
Kevin made an offer of $350,000 with a $3 royalty until he recoups $700,000 plus 2.5% ownership in the design business.
Lori declined, citing concerns about their ability to secure a patent and the high level of competition. Mr. Wonderful countered with $700,000 for a 5% stake, and after discussion, they decided to accept Kevin’s offer.
Kevin made the purchase because he buys a new broom for Barbara every year, and this model appealed to him. They continue to sell the product on their website for $59.
What is net worth of VaBroom?
Trevor and John appear on Shark Tank Season 13 Episode 11 in search of $350,000 for a 2.5 percent stake in their firm. This indicates a $14 million valuation.
They accepted an offer from Kevin of $350,000 with a $3 royalty until he recoups $700,000 plus 2.5 percent ownership in the design business thus the same valuation.
VaBroom Competitors
There is no competitor identified for VaBroom
Vabroom Shark Tank Updates
VaBroom is a broom that doubles as a cordless, portable vacuum cleaner. It was pitched by Trever Lambert and John Vadnais on season 13 episode 11 of Shark Tank.
The sharks were intrigued, and Kevin O’Leary made a deal with the entrepreneurs, lending them $350,000 in exchange for a $3 royalty for each unit until $700,000 was recovered.
After their appearance on Shark Tank, VaBroom received a lot of exposure and was featured on many popular news outlets and blogs.
The company has been featured in over a dozen publications, including Trend Hunter and Digital Trends. VaBroom has also been on numerous television shows to advertise their brand, products, and website.
VaBroom has continued to thrive since its appearance on Shark Tank. In the last 12 months, VaBroom had $3.1 million in sales. The product can be found online or in stores like Bed Bath and Beyond.
Reviews for VaBroom are mixed on Amazon, with some customers praising its ease of use and others criticizing its durability and suction power.
Overall, VaBroom has been successful since its appearance on Shark Tank, with the exposure from the show marking a major factor in its sales peak.
VaBroom Shark Tank Summary:
| INFORMATION | DETAIL |
| Product | A combination of a broom and a vacuum cleaner |
| Founders | Trevor Lambert and John Vadnais |
| Net worth (2022) of Founders | $2.25 million |
| VaBroom net worth (2023) | $10 million |
| Launch date | April 2019 |
| Kickstarter campaign | Raised $74,494 |
| Shark Tank Pitch | $350,000 for a 2.5% stake |
| Valuation | $14 million |
| Shark Tank investor | Kevin O’Leary |
| Sales (previous year) | $3.1 million |
| Projected sales (following year) | $5 million |
| Retail price | $59.99 |
| Merchandise supply | Sold out in 2 weeks at Bed Bath & Beyond |
| Patents | Working on international and US design patents |
| Competitors | High level of competition |
| Investment | Kevin O’Leary invested $350,000 plus 2.5% ownership in the design business. |
VaBroom FAQS
What is Vabroom Shark Tank?
VaBroom is a 2-in-1 cleaning tool designed to make cleaning easier and more fun. It is a broom with a built-in vacuum that eliminates the need for a dustpan.
VaBroom was created by Enhance Innovations Company, which was launched by Trevor in 2010 and John joined the company in 2016. The product prototype was made in June 2017 and the final product was made in 2019.
Trevor and John appeared on Shark Tank Season 13 Episode 11 and asked the sharks for $350,000 for a 2.5% equity at a $14 Million Valuation.
Kevin O’Leary invested in VaBroom and it was a royalty deal. After the airing of the episode, VaBroom was featured in over a dozen publications and had $3.1 million in sales in the last 12 months. VaBroom is approved by many supermarket chains such as Walmart, Target, Lowes, Bed Bath & Beyond, and more.
There have been some concerns about VaBroom’s design and durability. A TikTok user shared a video in which she regretted buying VaBroom because it broke within 6 months of using it.
Mark Cuban dropped out of the deal on Shark Tank, stating that the equity offer was too low and citing issues with their design firm model as one of his reasons for leaving the deal. Despite these concerns, VaBroom continues to thrive and has been successful in the market.
How Does Vabroom Shark Tank Works?
VaBroom is a 2-in-1 cleaning tool that combines a broom and a vacuum cleaner. The broom sweeps up dirt and debris, and the vacuum sucks it up without the need for a dustpan. The vacuum is built into the broom itself, making it a compact and portable cleaning solution.
The vacuum is activated by tilting and pressing the pressure-activated nozzle against the floor.
VaBroom was featured on season 13 episode 11 of Shark Tank, where founders Trevor Lambert and John Vadnais pitched their product to the Sharks.
The Sharks were impressed with the product and Kevin O’Leary made a deal with the founders for $350,000 in exchange for a $3 royalty for each unit until $700,000 was recovered.
Since appearing on Shark Tank, VaBroom has been featured on other television shows and has experienced a boom in business.
Reviews of VaBroom on Amazon are mixed, with some customers praising its convenience and effectiveness, while others have had issues with its durability and suction power.
The founders have lowered the price of VaBroom from its original $79.99 to make it more accessible to customers. Overall, VaBroom is a unique and innovative cleaning tool that has gained popularity since its appearance on Shark Tank.
What Happened To Vabroom Shark Tank?
VaBroom is a product that combines a broom and a cordless, portable vacuum cleaner. The product was pitched by Trevor Lambert and John Vadnais on season 13 episode 11 of Shark Tank, which aired on January 14, 2022.
The sharks were intrigued, and Kevin O’Leary made a deal with the entrepreneurs, lending them $350,000 in exchange for a $3 royalty for each unit until $700,000 was recovered.
Since appearing on Shark Tank, VaBroom has been featured in over a dozen publications, including Trend Hunter and Digital Trends.
The product has been sold in Bed Bath & Beyond and on the company’s website. VaBroom had done $3.1 million in sales over the last 12 months at the time the show was taped.
While it is not clear how much the company has earned since appearing on Shark Tank, it has been reported that the company continues to thrive.
VaBroom was launched through a Kickstarter campaign in April 2019, which earned around $74,494 for the company. The company also ran a successful campaign on the crowdfunding site IndieGoGo, earning them $78,3502. The product can be disassembled into four parts, which are easy to put together.
What Is The Current Valuation Of Vabroom Shark Tank?
VaBroom is a cleaning tool that was pitched on Shark Tank in Season 13 Episode 11234. The founders, Trevor Lambert and John Vadnais, asked for $350,000 for a 2.5% stake in their firm, which indicated a $14 million valuation.
Kevin O’Leary invested in the company and secured a deal with the founders. The deal was a royalty deal where Kevin would invest $350,000 with a $3 royalty until he recoups $700,000 plus 2.5% ownership in the design business.
This gave Kevin the same valuation as if they had given him his original offer outright.
As of 2023, VaBroom’s current worth is estimated to be $10 million. However, some sources indicate that the valuation is still $14 million.
The founders have a net worth of $2.25 million as of 2022. The product was already highly successful before appearing on Shark Tank, with $3.1 million in revenue over the last 12 months and a net profit of $300,000.
After the episode aired, Trevor and John got a lot of media attention and were featured on several websites such as Digital Trends, TikTok, and the Daily Mail. VaBroom is still selling for $59 on their website and other retailers such as Amazon, Walmart, Lowe’s, and Bed Bath & Beyond.
What is VaBroom?
VaBroom is a 2-in-1 cleaning product that was conceived and manufactured to make cleaning enjoyable and simple. The strong built-in vacuum picks up ordinary home dirt and debris without the use of a dustpan.
Who are the founders of VaBroom?
Trevor Lambert and John Vadnais are the entrepreneur behind VaBroom.
How much was they seeking in the Shark Tank?
Trevor and John appeared on Shark Tank Season 13 Episode 11 to seek $350,000 for a 2.5 stake in their firm. This represents a $14 million valuation.
Did they get the deal?
Trevor and John accepted an offer from $350,000 with a $3 royalty until he recoups $700,000 plus 2.5 percent ownership in the design business.
Where is VaBroom manufactured?
The concept itself was appealing, but when they discovered that the VaBroom was made in their hometown of Minneapolis, they were sold.
How do they charge a VaBroom?
Plug the charging cable (E) into the VaBroom Unit’s charge port on the rear (A). Tighten by twisting clockwise until the interlocking-teeth fully clamps each segment snugly together.
Connect the charging cable’s USB-A end to a USB power source. Insert the threaded end of section (C) of the handle into section (D).
How long does it take a VaBroom to charge?
The broom is delivered to consumers in a tiny box and requires assembly. Fortunately, the gadget is divided into four basic parts, and the instructions are simple.
Within five minutes of opening the package, they had their broom assembled and charging.
How do they turn on their VaBroom?
Sweep into a pile or line using VaBroom. Then tilt to the side, and the vacuum power is triggered by the pressure actuated switch on the nozzle.
That’s correct, just suck up dirt and debris and throw it out. It’s really that simple.
Does VaBroom uses battery?
VaBroom uses a high-powered lithium-ion battery to generate the power required to run the vacuum.
What is the battery life of VaBroom?
The built-in vacuum motor on VaBroom has been designed with safety and convenience in mind.
It turns off when not in use, so there’s no worry about it accidentally turning on for a young child or pet.
When charging, it automatically stops charging as soon as it’s fully charged.
How much does it costs?
The VaBroom is moderately priced at $59.99.
What is the net worth of Trevor Lambert?
Trevor Lambert’S net worth is unavailable.
What is the net worth John Vadnais?
John Vadnais’s net worth is unavailable.
How does a VaBroom function?
The VaBroom is a broom that performs everything a regular broom does, but it also has a little vacuum on the side.
After they’ve swept their area, they may tilt the broom slightly to push the vacuum head to the floor, allowing it to suck up the just-swept dirt and debris with no dustpan.
