Bunny Eyez Shark Tank Update – Net Worth, Pitch & Deal

In this super exciting episode of Shark Tank, the founders of Bunny Eyez joined the show to present their innovative business idea. Stacy, Jenny, and Andrea teamed up to create adorable eyewear with many unique features.

Bunny Eyez is the company that makes these amazing glasses you can wear while doing anything. They’re flippable and tiltable, making them perfect for any activity. The founders brought their product to the Shark Tank in Season 15 Episode 07.

The sharks involved were Lori Greiner, Kevin O’Leary, Daymond John, Mark Cuban, and Barbara Corcoran. Let’s see if the product can impress the sharks. Did the company get a deal on the show? If you want to know more about the outcomes, just dive right into the article and you can enjoy the whole episode. Buckle up!

Bunny Eyez Net Worth

As of 2023, Bunny Eyez was valued at $2 million. The founders faced some serious challenges when they started in late 2017, but their product is just amazing. As of now, the company has grown and customers are loving their product. Its valuation is estimated to be nearly $3 million.

What Happened To The Bunny Eyez After Shark Tank?

The company is still in business and doing great. Customers are loving their products, and they even got a big boost from the show, which led to lots of sales. They’ve also gained a huge following on social media and have endorsements from celebrities like Soda Kotb and Kaley Cuoco. You can still buy their glasses on Amazon and their website. They’re working hard to expand their business.

Did The Bunny Eyez Get A Deal On Shark Tank?

Yes, Bunny Eyez remained successful in securing a deal on Shark Tank. Daymond John made an offer of $200,000 for a 20% equity in their company. The deal also included a $2 royalty until $200,000 is paid, and then equity will drop to 15%. The entrepreneurs accepted the offer, and that’s how the company got a deal with Shark Tank.

Shark(s) nameOfferDemandCounterofferAccepted?
Daymond John$200,00020% equity+ a $2 royalty until $200,000 is paid then equity drops to 15%N/AYes
Lori GreinerOutN/AN/AN/A
Kevin O’LearyOutN/AN/AN/A
Barbara CorcoranOutN/AN/AN/A
Mark CubanOut N/A N/AN/A

Bunny Eyez Shark Tank Update

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Founders And Backstory

Stacy Fritz, Jenny Hutt, and Andrea Gluck are an amazing trio who founded the Bunny Eyez together. It all started when Jenny experienced the inconvenience of not being able to use her reading glasses at the hair salon. She wished she could flip the temple of her glasses and hold them in her hand while the stylist worked on her hair.

From that simple idea, they made it a reality. They created the first-ever readable, flippable, and tiltable reading glasses. Jenny and Stacy are sisters and the company is even named after their late mom, Bunny Koppelman. These glasses are such an impressive product for people who need to see but can’t always have them on their faces. They’ve made glasses not only functional but also stylish.

Initial Pitch

Jenny, Stacy, and Andrea pitched their product on the show, seeking $200,000 for a 10% stake in their company. Jenny kicked off the presentation with the story behind their innovative idea, detailing the special features of their eyewear. She went on to highlight that they possess two utility patents for the hinge mechanism of their glasses.

Queries About The Product

After their presentation, Barbara Corcoran inquired about the public response to their product. Andrea revealed that their lifetime sales, up to the present year, totaled a little over $5 million, equivalent to approximately 200,000 units since their company’s inception in 2018. Despite their initial success, they encountered sales challenges along the way.

In 2018, they achieved around $600,000 in sales, which soared to $1.9 million in 2019. However, by 2020, sales slightly decreased to $1.3 million. Subsequently, in 2021, sales dropped to $700,000, and in 2022, they were just over $400,000. Acknowledging these setbacks, they emphasized their determination to bounce back stronger than ever.

Daymond John asked for more specific details regarding their financials. They disclosed that their manufacturing costs for the glasses are $3.70 per unit, while the cases cost $0.60 each. With retail prices ranging between $35 and $40, they primarily sell their glasses directly to consumers through their website and via Amazon. However, they now seek a shark’s assistance to expand their distribution network. Their goal is to increase their market reach, aiming to penetrate big-box stores and other retail outlets.

Shark Responses And Final Deal

what happened to the bunny eyez after shark tank

When it came to making offers, Kevin was the first to express his thoughts, but he quickly decided that he was not the right fit for the entrepreneurs and bowed out of the deal. Mark Cuban raised concerns about marketing the functionality of the product to the appropriate target audience, especially in an era dominated by social media.

Consequently, he also decided to pass on the opportunity. Barbara Corcoran believed that selling the glasses in retail spaces might pose challenges due to the need to demonstrate their functionality. Following her rationale, she too decided to step away from the deal.

Daymond John expressed interest and presented an offer of $200,000 for 20% equity, along with a $2 per unit royalty. He further proposed that the royalty would cease once he recoups his investment, and the equity would then drop to 15%. Lori Greiner agreed that Daymond’s offer was a solid one but decided not to invest herself. The entrepreneurs deliberated and ultimately accepted Daymond’s offer, securing a partnership with him as they exited the tank.

Product Availability

Bunny Eyez specializes in making highly adaptable reading glasses. Their innovative design incorporates strategic hinges that enable wearers to effortlessly flip their readers downward without straining their necks. Additionally, these hinges allow users to rotate the temples down, transforming the glasses into opera glasses for added convenience.

When it comes to retail availability, prices range between $35 and $40. Bunny Eyez primarily sells its glasses directly to consumers through its website and Amazon, ensuring widespread accessibility to its versatile eyewear.

Conclusion

Bunny Eyez’s journey on Shark Tank was impactful. The founders impressed the sharks and managed to seal the deal with one of them, Daymond John. They were beyond thrilled to partner up with him and couldn’t wait to start working together. They see this deal as a great chance for their business and are super stoked about the growth opportunities it brings. With Daymond’s expertise and support, they are ready to take their Bunny Eyez products to the next level.

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