Andrew Kavovit and his daughter, Kiowa, pitch BooBoo Goo in Shark Tank episode 516 – the young entrepreneurs special – on March 14. BooBoo Goo is a colored, paint-on, liquid bandage that Kiowa invented when she was just six years old. They began making BooBoo Goo last fall, though availability is still very limited. The BooBoo Goo website was not active as of March 3, 2014.
Andrew is no stranger to TV sets. He played Paul Ryan for 5+ years on the popular daytime soap opera As The World Turns. He has a slew of TV show guest appearances and several TV movies to his credit. He most recently starred as David Cassidy in the David Cassidy Story. His wife, Jennifer Dodson-Kavovit and he are raising daughter Kiowa as a young entrepreneur and likely used some of their Hollywood connections to score an appearance.
Kiowa looks like a precocious kid with a lot of charm. She should have the Sharks melting at her forthright attitude. BooBoo Goo is likely looking for seed money to get their project off the ground.
BooBoo Goo Shark Tank Recap
Kiowa and Andrew enter requesting an investment of $100,000 in return for 17 1/2% of the company. They offer a video of Kiowa explaining her concept and demonstrating the product. Kiowa hands out samples of BooBoo Goo. Kevin O’Leary asks which Shark is her favorite, and Kiowa responds that “all the Sharks” are her favorites.
Andrew explains that the patent on the formula is pending, and that BooBoo Goo is organic, natural, and non flammable, unlike the liquid bandage products currently on the market. The pair are seeking the investment to further product development and marketing.
Lori Greiner’s not convinced, and when Andrew mentions that the product is being considered for QVC, she’s not sure it’s a good fit.
Kevin O’Leary questions whether they would be better off to market the product to the big names in the liquid bandage manufacturing market. Andrew agrees, saying that “the fact is, this is not a small-camp thing… We need people like you on the team.” Clearly he’d like to take the BooBoo Goo to the large bandage manufacturers and license it out.
Mark Cuban believes that the product would require too much consumer education. He’s out.
Barbara Corcoran doesn’t believe there’s a need, or a strong market, for the product. She thinks kids, and parents, will prefer traditional bandages. She’s out.
Robert Herjavec finds the improvement of adding color to a liquid bandage too weak to be a strong product. He thinks it’s too early for an investment, and he’s out.
Lori Greiner likes the product, but she agrees with Herjavec, that it’s too soon and the product isn’t unique enough. She’s out.
Kevin O’Leary is concerned about the pending status of the patent. He likes the product, and believes it could take a part of the market. He makes an offer: $100,000 in return for 25% of the company, contingent upon the clearing of the patent. He wants to handle the licensing deal.
Andrew and Kiowa accept, and leave the stage with a Shark investment.
BooBoo Goo Shark Tank Update
According to BooBoo Goo’s website, now working, they have entered into negotiations with a major bandage producer, as planned. The company is not named due to confidentiality, but the post states that the product should be available as early as 2015. An update on the Facebook page in November 2015 mentioned that several products have been added to the line; BooBoo Bites, BooBoo Burns, BooBoo Salve, and BooBoo Block.
As of this writing, there is no evidence that the products have been brought to market yet, but Kiowa is listed as one of the young people to become a millionaire before she was 20 years old. However much influence she had over the invention of BooBoo Goo, the idea appears to have paid off already, and the products may eventually become available through one of Kevin O’Leary’s licensing deals.
It’s clear that whether or not Kiowa has a future as an inventor, her charm and acting ability will open up many opportunities. Not many children can say they’ve charmed Mr. Wonderful, but Kiowa managed to land herself a lucrative Shark deal.
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