People often struggle to find furniture that is both comfortable and space-efficient. Many wish they could have a piece of furniture that serves multiple purposes. Bean bags are great for relaxation but not practical for sleeping. On the other hand, beds are comfortable for sleep but take up a lot of space. What if there were a solution that could give the comfort of both in one product?
This is where Byron Young came in with his idea for CordaRoy’s. He created a bean bag that turned into a bed. It solves the problem of needing both a bed and a bean bag by combining the best of both worlds.
Byron Young took this idea to Shark Tank, hoping for a deal. He pitched his product to the Sharks and asked for $200,000 for 20% equity. Byron did his best to convince them that CordaRoy’s was a great investment. Did the entrepreneur get a deal on Shark Tank? Check out CordaRoy’s update!
CordaRoy’s Net Worth Shark Tank Update 2025
Byron Young went on Shark Tank asking for $200,000 for 20% of his company. This meant he thought his business was worth $1,000,000. He made a deal with Lori Greiner for $200,000 for 58%, lowering the valuation to $344,828. The episode was aired on March 8, 2013. The company became a huge Shark Tank success, selling convertible bean bag beds nationwide. Using the viral/heavy traction method, the current net worth of CordaRoy’s is estimated to be around $10–12 million in 2025.
The company saw an immediate boost after the Shark Tank episode aired. The exposure from the show drove so much traffic to CordaRoy’s website that it crashed the site for two days. Sales skyrocketed and reached over $3 million in gross annual revenue by 2014. The company continued to grow and by 2018, CordaRoy’s hit $10 million in lifetime sales.
As of today, the company remains in business and grosses an estimated $5 million annually. CordaRoy’s has expanded its reach, landing products in retailers across the United States, including Amazon and Costco. The business continues to thrive, and the bean bag that turns into a bed has become a popular household item.
Yes, Byron Young did get a deal on Shark Tank. Initially, he asked for $200,000 for 20% equity in the business. However, the Sharks were not immediately convinced by his offer. Lori Greiner, one of the Sharks, showed interest and offered to invest $200,000 for 60% equity.
Byron tried to negotiate the deal further, but Lori refused to budge. After some back-and-forth, Byron agreed to her terms, accepting the deal for $200,000 in exchange for 58% equity. This deal helped Byron gain not only the capital but also the strategic partnership he was looking for.
| Shark(s) name | Offer & Demand | Counteroffer | Accepted? |
| Lori Griener | 1# $200,000 for 60% equity 2# $200,000 for 58% equity | $200,000 for 40% equity | Yes |
| Robert Herjavec | Out | N/A | N/A |
| Kevin O’Leary | Out | N/A | N/A |
| Daymond John | Out | N/A | N/A |
| Mark Cuban | Out | N/A | N/A |
CordaRoy’s Shark Tank pitch
The idea for CordaRoy’s came from Byron Young’s desire to create something innovative and practical. He saw that people needed both a bed and a bean bag but didn’t want to sacrifice comfort or space.
Byron started developing the idea for a bean bag that could also serve as a bed, providing comfort and convenience in one. His vision was to make it something that could be used both for relaxation and as a guest bed.
Byron’s journey wasn’t easy. He faced challenges in the early stages of development, particularly in creating a design that was comfortable yet practical. The materials and construction had to be perfect to ensure that the product was both durable and functional.
It took time and effort to refine the product and make it market-ready. But Byron’s persistence paid off when he finally created CordaRoy’s, a unique product that could truly serve multiple purposes in one.
In his pitch on Shark Tank, Byron explained how CordaRoy’s worked. He showed the Sharks how easily the bean bag transformed into a full-sized bed, making it ideal for small spaces, guests, or sleepovers. The product was designed with comfort in mind, offering both the cozy feeling of a bean bag and the practicality of a bed. Byron emphasized how the product could be a game-changer for those who wanted versatile furniture.
He explained that the $200,000 investment would help him grow the business and take it to the next level. The pitch was simple and straightforward, focusing on the product’s unique design and its potential for growth.
Byron also highlighted the company’s revenue, which had already reached $1.4 million in sales. The Sharks listened carefully, and the pitch seemed to resonate with them, even though some had concerns about the valuation and the product’s potential for scalability. Keep reading our CordaRoy’s update to see what happens next!
Each of the Sharks had their own questions about CordaRoy’s and the business model.
Kevin O’Leary asked Byron about the company’s valuation. He wanted to understand why Byron valued CordaRoy’s at $1 million despite not being in large furniture stores. Byron explained that his sales had reached $1.4 million, and the company had made $200,000 in profit in the previous year.
However, Byron also felt that the company was underperforming and had the potential for much more if it could scale up. Daymond John asked Byron where the products were being sold. Byron told him that the products were sold out of his own retail store at the Mall of America and that he had a run on QVC.
Daymond seemed interested in the business but ultimately decided to exit the deal because he felt he wouldn’t be the best fit for the company. Robert Herjavec wanted to know how long Byron had been selling CordaRoy’s.
Byron explained that he had been working in the business for eleven years. Robert also asked why the product wasn’t being sold in larger furniture stores, to which Byron responded that the product needed to be demonstrated in person to be truly appreciated.
Mark Cuban didn’t think he could help scale the business further and decided to exit the deal.
Despite the tough questions and some Sharks backing out, Byron remained confident and pushed forward with the negotiations.
The Sharks had mixed reactions to CordaRoy’s.
Lori Greiner was the most enthusiastic about the product. She saw the potential in CordaRoy’s and made an offer of $200,000 for 60% equity. Byron didn’t agree with the terms and tried to negotiate for a lower percentage.
Robert Herjavec also saw the potential in the product but felt that Lori was the right partner for Byron. He offered to put up half of the $200,000 in exchange for 40% equity. He suggested that Byron should try to convince Lori to join him in the deal.
In the end, Byron accepted Lori’s offer of $200,000 for 58% equity. The Sharks were impressed with Byron’s persistence and determination, and the deal marked a significant turning point for CordaRoy’s.
What Went Wrong With CordaRoy’s On Shark Tank?
Although the product was well-received by the Sharks, not all of them were interested in making a deal. Kevin O’Leary felt that the company’s valuation was too high. He didn’t agree with the $1 million valuation and was not convinced that the company could scale to the next level. Daymond John also exited the deal because he didn’t think he would be the right partner for the company.
He felt that another Shark, particularly Lori, would be better suited to help Byron grow CordaRoy’s. Mark Cuban didn’t see the potential for scaling the business and therefore decided to pass. He didn’t think he could add value to the company in the way that Byron needed.
Despite these setbacks, Byron was able to secure a deal with Lori Greiner, who saw the potential in CordaRoy’s and agreed to partner with him.
Product Availability
From our CordaRoy’s update research, the product is available in a variety of sizes and colors, including the Chenille Bean Bag Chair, which converts from a bean bag to a full-size bed. CordaRoy’s is sold online through their website and is also available at major retailers such as Amazon and Costco. The product can be found in stores across the United States, making it widely accessible to customers.
Prices vary depending on the size and model, but the product is generally affordable, given its dual functionality. Customers can also find the product on various online platforms, making it easy to purchase from anywhere.
Conclusion
CordaRoy’s journey on Shark Tank was a huge success, especially for Byron Young. The exposure from the show helped the company skyrocket, with sales reaching millions. The partnership with Lori Greiner played a significant role in taking the business to the next level. CordaRoy’s remains in business and continues to thrive, grossing millions annually. The company’s success shows how a simple yet innovative product can make a big impact.
As the company grows, we can expect more advancements and possibly new products in the future. Keep an eye on CordaRoy’s as it continues to expand and provide innovative solutions for home furniture.
Hey, I’m Amna Habib an undergraduate student of Bachelors in Business Administration. Shark Tank is one of my favorite TV shows of all time. The show provides a fascinating insight into the world of entrepreneurship by presenting creative solutions to common problems, which strongly connects to my academic interests. I’m interested in learning more about the strategic thinking and creativity that lead these companies as each pitch provides insightful information. I’ve found that watching Shark Tank has inspired my enthusiasm for business and entrepreneurship and has been a very enlightening and motivating experience. Apart from business and writing, I love food, shopping, and hanging out with friends and family. Read more About me.
