YUBO Lunch Boxes Shark Tank Update – YUBO Lunch Boxes Net Worth 2024

Every day, a lot of parents struggle to pack their children’s school lunches in lunch boxes that are difficult to clean, have small food sections, and frequently don’t fit neatly into backpacks. Parental frustration and time are often involved, as they desire to provide healthy food in a quick manner.

To address these issues, Cyndi and Paul Pedrazzi developed YUBO lunchboxes. YUBO lunch boxes are made with removable, easily cleaned compartments that make it easy and hygienic to organize different kinds of food. The entrepreneurs showcased a product that promised both convenience and practicality for busy parents.

 Cyndi and Paul presented their creative lunchbox system on Shark Tank. They asked for a $150,000 investment for 15% equity that would help them grow their business and possibly land a licensing arrangement with a big corporation like Disney. Let’s see what happens next!

YUBO Lunch boxes net worth 2024

Cyndi and Paul Pedrazzi asked for a $150k investment in exchange for 15% equity in their company, YUBO. This meant they valued their company at $1 million. They made a deal with Kevin O’Leary and Robert Herjavec for $150k in exchange for 20% equity, which meant the deal valued YUBO at $750,000. After the show aired, YUBO saw a big increase in website traffic, sales, and social media exposure. With an estimated 10% yearly growth rate (typical business growth), the current net worth of YUBO in 2024 is about $0, as the company ceased operations in 2019.

YUBO Lunch Boxes Shark Tank Update

YUBO saw some early success after joining Shark Tank, with revenue and brand recognition increasing.  But even after securing a partnership with Kevin O’Leary and Robert Herjavec, the business found it difficult to maintain its growth in the competitive children’s product industry. In 2019, five years after their appearance on Shark Tank, Cyndi and Paul made the decision to shut down the company.

The family declared on social media that they would no longer be making or selling YUBO lunchboxes and were going on to new projects.  The lunch boxes are no longer on sale, and as of today, YUBO is no longer in operation. The founders were thankful for the experience and the consumers’ support even if the shutdown announced the end of their journey with the project.

Yes, YUBO got the deal on the Shark Tank. Originally, Cyndi and Paul requested $150,000 in exchange for a 15% equity in their business. After several discussions, they agreed to Robert Herjavec and Kevin O’Leary’s offer. They closed the deal on a $150,000 investment for 20% equity and if the investment was repaid within 18 months, the percentage would decrease to 10%. 

Shark(s) name	Offer & Demand	Counteroffer	Accepted?
Kevin O’Leary and Robert Herjavec	$150k for 20% equity, which drops to 10% if $150k is repaid in 18 months	N/A	Yes
Kevin O’Leary	1# $150k for 10% equity + 5% to 1% royalty based on sales  2# $150k for 20% equity which drops to 12.5% if $150k is repaid in 18 months 3# $150k for 20% equity which drops to 10% if $150k is repaid in 18 months	N/A	No
Robert Herjavec	1# $150k for 30% equity 2# $150k for 15% equity	N/A	No
Lori Greiner	1# $150k for 20% equity 2# $150k for 15% equity, which must be paid in 15 Months	N/A	No
Barbara Corcoran	Out	N/A	N/A
Mark Cuban	Out	N/A	N/A

YUBO Lunch Boxes shark tank pitch

When Cyndi and Paul Pedrazzi realized their own kids needed a better lunchbox solution, they came up with the concept of YUBO lunchboxes. Their goal was to develop a solution that would simplify and improve the hygiene of lunch packing. Their lunchbox designs featured easily cleaned and arranged removable compartments.

They also faced difficulties in this business. They put $350,000 of their own money into the company early on, and since they didn’t have the money to pay for the design work upfront, they even handed an industrial designer a 20% stake. They continued in their efforts to create a product that provided parents with a practical solution in spite of these challenges. 

Cyndi and Paul emphasized the special qualities of YUBO lunchboxes, like their customizable compartments and easy-to-clean design, during their Shark Tank pitch. They described how the lunchboxes were already being offered in 100 retailers across the globe and had produced a sizable amount of revenue.

Each lunch box costs around $22 and $40 at retail. With the money, they intended to grow their brand even more and get a Disney license so they could reach many more people. Although the idea and its market potential attracted the Sharks, they were uneasy about the company’s financial choices and the amount of shares that had previously been handed away. 

Robert asked about the price of the product. Cyndi responded that a basic lunch box costs $21.95. The deluxe model costs $30 and $40 with customization. 

While further discussions with Robert, Cyndi revealed that they have 100 retail stores across the nation and they also sell internationally. 

Mark asked how long they had been selling and how much they had sold. Cyndi replied that they have been in the market for the last four or five years. This year, they are about to reach $250,000 in sales. 

Lori asked about the patent. Cyndi revealed that they have two patents: a design patent and a utility patent. 

During further discussions with Sharks, Cyndi and Paul clarified that they were unable to pay their industrial designer, so they had to give 20% ownership to the other person. Cyndi and Paul own 80% of the company. 

Mark Cuban decided not to invest because he disagreed with the founders’ financial choices, especially their early giving up of too much equity.

Barbara Corcoran declined the opportunity due to practical issues regarding the item’s size and functionality. She expressed doubts about the lunchbox’s usefulness and its size shows that it would be too big to fit in a kid’s backpack. Cyndi and Paul had explained that the size was purposefully designed to allow a full lunch.

Kevin O’Leary first offered the deal of $150,000 for 10% + royalties, but entrepreneurs rejected it.  Afterward, he changed his offer to $150,000 for 20% equity, reducing it to 10% if paid back within 18 months. Robert Herjavec teamed up with him in this deal. The entrepreneurs accepted this offer.

Robert Herjavec expressed curiosity about the product’s potential for expansion in the retail market and made two offers: $150,000 for 30% equity and 15% equity. Later, he teamed up with Kevin.

Lori Greiner liked the concept and first offered $150,000 for 20% equity and $150k for 15% equity, which must be paid in 15 Months was her second offer. 

Product Availability

As of today, YUBO lunch boxes are not available for purchase. The lunchboxes were offered for sale in 100 stores across the globe as well as online at the YUBO website. But YUBO lunch boxes are no longer for sale, and the website has been taken down due to the company’s 2019 closure.

Conclusion

Although Cyndi and Paul Pedrazzi were unsuccessful in understanding their dream of a better lunchbox solution. Their experience on Shark Tank served as a reminder of the difficulties and opportunities associated with launching a new product.

They were also able to secure a deal with two Sharks, but ultimately, the business could not sustain its growth and closed down a few years later. Despite this defeat, YUBO’s story serves as a reminder of the complexities of entrepreneurship and the significance of making strategic decisions.