Yubo Lunch Box Shark Tank Update | Yubo Lunch Box after Shark Tank
What is Yubo Lunch Box?
Yubo is a modular lunch box system that consists of reusable, washable containers that stack within each lunch box.
Kids may personalize their lunch box with their name and a variety of removable face plates featuring attractive graphics. Personalized lunch boxes may be decorated with anything from unique artwork to pictures and more.
The Yubo Lunchbox concept was initially established by Paul and Cyndi Pedrazzi in 2007. The entire item detaches and can be thrown in the dishwasher. The top and bottom easily take out, and they go into the dishwasher to be cleansed in every nook and corner.
Each lunch box comes with a luxury package that includes a variety of compartments to handle full-size sandwiches and smaller delicacies, as well as a custom-fitted ice pack that rests on the bottom, precisely beneath the food-storage containers.
Who is the founder of Yubo Lunch Box?
Paul and Cyndi Pedrazzi founded the Yubo Lunchbox in 2007. When the pair got unhappy with the amount of plastic baggies they were using for their own children’s lunches, they set out to redesign the lunch box.
The company grew steadily during their first three years of business and finished 2013 with a list price of $30 for the basic lunchbox, which accommodated a sandwich and a snack item.
The materials are devoid of BPA and phthalates, which is significant. The package as a whole is extremely strong.
There are an infinite number of food storage combination alternatives. The Yubo, with three different container inserts, allows anybody to pack almost whatever they have in their meal plans for lunch! Kids like various containers for their meals, and the Yubo allows me to put a variety of things in their lunch.
The Pedrazzi believe that the variety of design possibilities keeps children from being bored with their lunch box. Yubo is available on Amazon and at individual retailers across the world.
What Happened to Yubo Lunch Box at Shark Tank pitch?
Cyndi and Paul decided to propose their company to Shark Tank investors in episode 10 of season 5 of Yubo Lunch Box on Shark Tank in order to get distribution in larger retail stores.
Paul and Cyndi go on the Shark Tank seeking for $150,000 in exchange for a 15% stake in their firm, Yubo, which is valued at $1 million.
The entrepreneurs demonstrate their daughter’s cloth lunchboxes, estimating that they used an average of 2,000 plastic bags each year.
Yubo is dishwasher safe and has unique containers and an ice pack that fits snugly. They provide each Shark with a customized Yubo box.
The boxes range in price from $21 for a basic box without accessories to $30-40 for a fully customized and decorated Yubo.
The duo has gained access to 100 retail locations. They’ve been on the market for four years and are expected to sell for between $200 and $250,000.
They’re ready to extend their retail options, and Cyndi intends to work with Disney to develop an agreement that would allow guests to purchase Yubo personalized with images from their park visit directly in the gift shop.
The pair’s offer does contain one caveat. To get manufacturing, they were required to trade 20% of the firm to the first manufacturer, in addition to a 5% sliding scale royalty on sales, which reduces to 1% when 750,000 units are sold.
Mark Cuban is out, stating that he feels “the concept of monarchy is so wrong.” According to Barbara Corcoran, the Yubo is excessively bulky and will not fit neatly in a backpack. She also left.
Kevin O’Leary makes an offer. He is prepared to offer them the $150,000 in exchange for 10% equity, but he also wants the manufacturer’s royalty arrangement. Paul is unconvinced that an extra royalty is viable.
Robert Herjavec enters the fray. He is offering $150,000 in exchange for a 30% ownership in the firm, stating that he believes “this is a true home run.”
Lori Greiner adds a third offer: $150,000 in exchange for 20% stake. She is already a Disney cast member and has a deal with Walmart.
Kevin O’Leary eliminates the royalty and reduces his ownership position to $150,000 for 20% equity shares, while also allowing couples to buy him out for 12.5% if they pay back the initial investment in 18 months.
Lori Greiner will not be outdone. She reduces her request to $150,000 for 15% stake in the business, but she requires repayment within 15 months.
Robert Herjavec makes a non-repayable offer of $150,000 for 15% equity shares, prompting Kevin O’Leary to adjust his offer somewhat, reducing his 12.5% ownership to 10%.
The couple wishes to withdraw from the Shark Tank in order to consider the offers, but the Sharks caution them that things may change quickly in the Shark Tank.
Robert Herjavec proposes to partner with Kevin O’Leary in exchange for $150,000 in exchange for 15% equity in the firm, with the option to reduce the stake to 10% if the investment is returned in 18 months. Finally, the couple accepts and exited the pitch with a deal.
What Happened to Yubo Lunch Box after Shark Tank?
Following its appearance on Shark Tank, the Yubo rocketed to fame. The deal with Kevin, Robert, and Yubo Lunch Box was finalized.
The Sharks lived up to their word, propelling Yubo to new heights of lunch box popularity. Today, the Yubo is available in Australia, Canada, Hong Kong, Indonesia, the Netherlands, Norway, Turkey, the United Arab Emirates, and England, in addition to the United States.
The boxes are available through Amazon, Disney shops, and a number of other significant merchants. Yubo is now launching the Yubo Tote, a washable bag that detaches to lay flat for easy cleansing.
The Tote has a greater capacity, which is more appropriate for older children’s appetites and a more mature design for children who have outgrown carrying a “lunchbox” to school.
The firm ceased operations in January 2019. Cyndi made the following message on the company’s Facebook page.
Competitors of Yubo Lunch Box
The Yubo Lunch Box competes with the following competitors in the market space; LunchBots, LunchBlox, and School Zone Lunch Boxes.
Net Worth of Yubo Lunch Box
The company was valued at $1 million during the pitch, after the investment done by two Sharks company valued $750,000. Since then the company is no longer operating and hence the current net worth is unavailable.
Yubo Lunch Box FAQs
What is Yubo Lunch Box?
Yubo Lunch Box is a lunch box designed to separate kids from their plastic baggies and offer them a more typical lunch box experience.
Who is the founder?
Cyndi and Paul Pedrazzi was the founder of Yubo Lunch Box.
How much were asking on Shark Tank?
They were seeking for $150,000 for 15% stake of their company.
Did they have the deal?
Yes, they had the deal with two Sharks, Robert Herjavec and Kevin O’Leary.
How much was the deal?
They came back with a deal at $150,000 for 20% stake in their company which valued at $750,000.
Is Yubo Lunch Box still in business?
Yes, Yubo Lunch Box is no longer in business.
What was the conversion rate per unit?
Since they were selling from their own factories, their product consisted of two products.
Where is Yubo Lunch Box manufacture in?
The company is headquartered in Miami, Florida.
Where can I find Yubo Lunch Box?
Yubo Lunch Box can be purchased online from Amazon or at many of its retail partners, such as Cubby’s and Disney.
How was the company started?
Yubo was created by Cyndi and Paul Pedrazzi during the spring of 2015. The company originally designed cloth-lined lunch boxes, but when they found that traditional plastic bags were causing more waste in landfills, they decided to start up a business that would reduce plastic bag waste.
How much is Yubo Lunch Box?
Yubo Lunch Box can be purchased from Amazon at $25-$30. The price may vary depending on the type of Yubo purchased.
Was Yubo Lunch Box a scam?
No. The company appears to be operating as a legitimate business and is not a scam.
Is Yubo Lunch Box worth it?
The quality and durability of the Yubo Lunch Box are not very clear from company’s website, so it difficult to figure out whether it is worth investing in this product or not.
Was Yubo Lunch Box shipping?
Yubo Lunch Box does not seem to offer international shipping.
Is Yubo Lunch Box safe for hot food?
According to the company’s website, the product is BPA free and microwave safe.
How does Yubo Lunch Box work?
The Yubo Lunch Box has a combination of interlocking, flexible silicone lids, ranging from small containers to large containers that can hold multiple servings of food.
What is the net worth of Cyndi and Paul Pedrazzi?
Cyndi and Paul Pedrazzi are still unknown.