Highlights
- Martin Hill pitches The Beebo, a hands-free baby bottle feeding device, in Shark Tank episode 701.
- Seeking $200,000 for 15% equity, Martin ultimately secures a deal with Lori Greiner and Ashton Kutcher for $200,000 for 30%.
- Despite the deal not closing, The Beebo remains in business and is available in buybuyBaby stores and other retailers. It was acquired by Swabbies Tech in April 2020, and its holding company, Better Family, acquired Ava the Elephant in March 2021.
Overview
| Category | Details |
|---|---|
| Name | The Beebo |
| Founder(s) | Martin Hill and Sarah Hill |
| Industry | Baby Products |
| Product | Hands-free bottle feeding device |
| Funding | $200,000 investment ask |
| Investment Ask | $200,000 |
| Equity Offered | 15% |
| Valuation | $1.33 million |
Entrepreneur Martin Hill hopes the Sharks like The Beebo, his “hands free” baby bottle feeding device, when he pitches in episode 701 – the season 7 premier. Hill, along with his wife, Sarah, created the Beebo after the birth of their second child. They found they often needed an extra pair of hands while bottle feeding, but there was nothing on the market that met their needs. Martin, an engineer by profession, set out to design a device that allowed parents to bottle feed hands-free safely while still bonding with their baby.
The Beebo is simply an ergonomically shaped rubber bottle holder that slips over your shoulder. It has a removable (for cleaning) soft foam holder that grips virtually any shape baby bottle; the holder adjusts so the angle of the bottle is just right in any position. Parents can hold their baby with one arm, or put baby in a sling-like holder, while feeding. This frees up on or two hands to “multitask” while feeding.
Each Beebo is BPA free, lead free and phalates free – so health conscious parents won’t need to worry about nasty chemicals mixing with baby’s food. The Hills have a patent pending on the product and they claim there’s nothing else like it on the market. Each Beebo costs $39.95 and they’re available on Amazon.
Will the Sharks start a (hands-free) feeding frenzy over this product?
Beebo Shark Tank Recap
Martin comes into the Tank seeking $200K for 15% of his business. He hands out the product while explaining it and letting the Sharks know it’s made from watertight flex foam. Lori is grinning like the cat that swallowed the canary the whole time. Ashton, who says he’s been doing a lot of “dad duty” tries one on for size.
Martin explains he made a prototype and he’s had $20K in sales since February, Each Beeboo costs $10.86 to make and retails for $39.95. He’s been getting inundated with inquiries and needs the $200K for a “brand refresh.” He says he named it “Beebo” because he called it “booby” at first and his wife made him change the name!
Kevin says he likes the product because it’s simple and he offers $200K for 33%. Ashton asks what Martin’s invested and Martin says $180K. He wants to sell 18,000 units this year. Robert says he admires people who are all in, but doesnt remember bottle feeding being a problem – he’s out. Mark agrees – he’s out too.
Ashton likes feeding his baby, but thinks his expertise would help down the road with marketing – he’s not good at manufacturing – so he’s out.
Lori offers $200k for 30% and asks Ashton to come in with her to help with marketing; he agrees and the deal is done.
RESULT: DEAL with Ashton and Lori $200K for 30%.
Beebo Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. The deal with Ashton and Lori never closed, but the company is still in business. They are also in buybuyBaby stores and dozens of independent and smaller baby store chains. In April, 2020, Swabbies Tech., Inc. acquired Beebo for an undisclosed amount. In March, 2021, Better Family, Beebo’s corporate holding company, acquired Ava the Elephant of season 1 fame. As of October, 2022 the company is still in business and has revenue of $5 million across all its brands.
Posts About Beebo on Shark Tank Blog
Beebo Company Information
Video
