Highlights
- Cubicall creates sleek, sound-insulated phone booths for open offices, offering privacy for calls and meetings, with prices ranging from $6,495 to $11,995.
- Despite selling $500,000 in products in a year, the company struggled with thin margins and sought a Shark’s help to scale.
- As of 2022, Cubicall has grown to $5 million in annual revenue and counts SAP, Goldman Sachs, Cisco, Bloomberg, and the Department of Homeland Security as customers.
Overview
| Category | Details |
|---|---|
| Name | Cubicall |
| Founders | Nick and Anthony Pucci |
| Industry | Office Furniture, Privacy Solutions |
| Product | Sound-insulated phone booths for open offices |
| Funding Sought | $350,000 |
| Investment Ask | $350,000 |
| Equity Offered | 10% |
| Valuation | $3.5 million |
Nick and Anthony Pucci introduce the Sharks to Cubicall, their modern “phone booth” for open office spaces, in Shark Tank episode 1021. The brothers and long time marketing executives founded the business in 2017. They found that 70% of offices in the USA use open-office design. While this has its benefits, there is still a need for private spaces for phone calls and conversations.
The Cubicall booth is the solution. They are sleek, modern looking booths with sound insulation for phone privacy. The glass panels can be customized with artwork (like their commemorative Superman booth) for visual privacy as well. Their small foot print saves space in the open office while still providing a quiet space.
Cubicall booths come in sizes that fit 1-4 people and range in price from $6,495 to $11,995 per booth. The Puccis started the company when they were looking for a sound proof phone booth for their own open office. When they couldn’t find one, they made one. They manufacture the booths in Los Angeles. They’re looking to expand their market with a Shark’s help.
Cubicall Company Information
Video
Posts about Cubicall on Shark Tank Blog
Cubi Call for Open Office Privacy
Cubicall Shark Tank Recap
Nick and Anthony enter seeking $350,000 for 10% of their business. They explain and demonstrate the product. They’ve sold about $500,000 in product in a year, but their margins are so thin, they can’t get distributors interested. There are also four major competitors in the space.
Did Cubicall Get A Deal?
Mark, Lori and Robert drop out, but Kevin and Barbara show interest.
Kevin offers a Sharky deal: $350,000 for 10% of the company with a $100 per unit royalty until he recoups his investment. After that, the royalty goes to $50 per unit in perpetuity. Barbara offers $350,000 for 25% with no royalties. Anthony and Nick retire to their phone booth to discuss the offers. They’re seen using a calculator!
When they come out, they decline Kevin’s offer. Next, they counter Barbara’s offer with $350,000 for 15%. Barbara says it’s not enough and she touts her contacts in the contract furniture space. After asking if she’ll move a bit, they counter again with $450,000 for 30% but Barbara says she wants a “quarter slice.” Robert asks them what they’re going to do because the Sharks aren’t budging. After a brief consultation they take Barbara’s deal.
Cubicall 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 did not close with Barbara, though Nick and Anthony say she has advised them on certain issues. Cubicall saw a downturn in business during the Covid-19 pandemic in 2020. During that year, the company moved its operations to the greater Las Vegas area. They also saw an increase in orders for their medical exam booths. In 2021, things started to pick up a little as things opened up. By March, 2022, they’d already outgrown their Las Vegas facility and were looking for a bigger space.
The company lists SAP, Goldman Sachs, Cisco, Bloomberg and the Department of Homeland Security as customers. As of August, 2022, they are reporting annual revenue of $5 million.
More products from this episode! Check out other businesses that participated alongside Cubicall.
