BrellaBox Shark Tank Update – Net Worth 2024

Are you also tired of getting wet and cold in storms because you’ve bought a cheap umbrella from a street vendor that failed you right when you needed it the most?

Brellabox is a startup business that makes sure you never get caught in the rain. Two young entrepreneurs, John and Anusha, appeared on the Shark Tank seeking an investment of $400,000 in exchange for a 20% stake in BrellaBox.

The idea is simple: you can rent an umbrella from a self-service umbrella vending machine. Learn more in this shark tank update and find out if they get the deal or not.

BrellaBox Net Worth

The valuation of BrellaBox was $2 million when it appeared on Shark Tank. The current net worth of BrellaBox is unknown as of 2024 since the company went out of business.

BrellaBox Shark Tank Update

Ausha and John entered a shark tank featuring premium umbrellas. They looked for an investment of $400,000 in exchange for a 20% stake to establish a model that would be present in hospitals, university campuses, and other convenient locations. 

Brellabox rented out umbrellas to city dwellers and college students. They planned to charge $1.50 for each umbrella, which you could keep for 12 hours. Their goal was to stop people from buying cheap umbrellas and throwing them away when they broke. Brellabox was perfect for umbrellas that don’t last very long.

Did Brellabox Get A Deal On Shark Tank?

No, they didn’t get the deal or any offer from any shark because their business is pre-revenue, and some sharks, like Kevin O’Leary, didn’t like the idea and said it was crappy and horrendous.

Shark(s) Involved	Offer made	Demand	Counteroffer	Accepted?
Chris Sacca	N/A	N/A	N/A	N/A
Kevin O’Leary	N/A	N/A	N/A	N/A
Barbara Corcoran	N/A	N/A	N/A	N/A
Mark Cuban	N/A	N/A	N/A	N/A
Daymond John	N/A	N/A	N/A	N/A

BrellaBox Shark Tank Story

After appearing on Shark Tank, BrellaBox faced many problems and didn’t become as successful as they had hoped. The founders tried to fix the issues the sharks mentioned, like the high cost of making and looking after the kiosks, the chance that people might steal or misuse the umbrellas, and the fact that not many people might want to rent umbrellas.

But even with their efforts, BrellaBox couldn’t get enough people to use their service or enough money to keep going. They couldn’t set up many kiosks or make much money renting umbrellas.

Eventually, BrellaBox had to close down because it couldn’t make the business work. Even though the idea of sharing umbrellas had potential, it was too hard for the company to make it happen.

John tried to defend BrellaBox in a blog post after Shark Tank, but there was a big problem: they hadn’t put any boxes out yet, so they were only guessing how well the business would do.

And now, you can’t even order an umbrella rental box from them. John won’t be able to prove the sharks wrong until they fix this issue. BrellaBox shut down in 2023.

Founders and BackStory

John O’Connor and Anusha Kambhampaty are the founders of Brellabox, lived in New York, and experienced the problem of unexpected rain storms. They started BrellaBox as a more environment-friendly alternative to purchasing poor-quality umbrellas from street vendors. They created an umbrella rental service with self-service umbrella vending machines.

Pitch and Offers

Anusha and John talked about BrellaBox on the show. They explained that it’s like a vending machine for umbrellas. These machines would be in busy cities where people could rent umbrellas when it’s raining.

They said it’s good for the environment because it reduces the number of umbrellas people throw away. It’s also convenient for people caught in the rain without an umbrella.

They asked the sharks for $400,000 in exchange for a 20% stake in their company, which they said was worth $2 million. But the sharks were worried about whether the idea would work if the company was worth that much, and if it would be hard to set up and manage the machines.

John and Anusha talked about how much it costs to rent an umbrella from BrellaBox. They said it’s $1.50 for 12 hours. If someone doesn’t return the umbrella, they have to pay $40. They also mentioned that universities or other places where they put the machines get 15% of the money, and the company keeps 85%.

They said the company hasn’t made any money because they’re still testing it. During the test, people could use the umbrellas for free. Kevin didn’t like this idea and said he wouldn’t invest. He hates the idea. He tells the pair that he will “stop this madness now” because this is “maybe the worst idea I’ve ever heard on Shark Tank.” He’s emphatically out.

Mark asked about the cost of making the machines. John said it’s $1,150 for 50 machines or $900 for 200 machines. Daymond wasn’t sure if the machines would be easy to use.

Chris Sacca didn’t want to invest because he’s from California, where it doesn’t rain much. Mark also decided not to invest because he didn’t see how they would make money.

Barbara didn’t want to invest either because she thought it was too early for the company to make money. Kevin kept saying negative things about the idea, trying to convince the other sharks not to invest.

In the end, Daymond decided not to invest either, even though he respected the hard work they put in. He was the last shark to say no.

Negotiation and Final Deal

Not any single shark offered any deal. Hence, no negotiation happened.