Highlights
- Ivan Barnes and Lisa Evans pitch Squeeky Knees, toddler clothing with built-in squeakers, on Shark Tank
- Despite initial sales of only $10,000 over three years, they seek $80,000 for 20% equity
- The Sharks unanimously pass on the investment, and the business eventually shuts down in 2017
Overview
| Category | Details |
|---|---|
| Name | Squeeky Knees |
| Founders | Ivan Barnes and Lisa Evans |
| Industry | Children’s Apparel |
| Product | Toddler clothing with built-in squeakers |
| Funding | N/A |
| Investment Ask | $80,000 |
| Equity Offered | 20% |
| Valuation | $400,000 |
Ivan Barnes and Lisa Evans crawl into the Shark Tank with their Squeeky Knees line of toddler clothing in Episode 521 on March 7. Squeeky Knees features a patented “squeaker” sewn into the knee area of toddler pants. Evans created Squeeky Knees in 2010 as a way to protect her son’s knees and bum while creating a fun way for him to tool around the house and explore. As you can imagine, the clothing squeaks as a toddler moves around. An added benefit is parents are aware of were baby is at all times; the kids seem to love them too!
Evans initially partnered with a company called Right Bank Babies to design and sell the line, but they no longer carry the product. Now, she’s selling on her own website to both wholesale and retail customers. The Squeeky Knees line includes including knee highs, jeans, pants, overalls, onesies, stockings, and leggings. All the clothing is machine washable and made in the USA.
Squeeky Knees Shark Tank Recap
Ivan and Lisa come to the Shark Tank looking for an investment of $80,000 in return for 20% equity in Squeeky Knees. The legwear has a pad that includes a squeaker in the knees, serving a dual purpose. The pads protect young children’s knees from bumps and bruises, and makes a squeaking sound which alerts the parent to their location within the home.
Lori Greiner wants to know what sales have been like. Ivan explains that they’ve sold 500 units and made a little over $10,000. They’ve been in business for 3 years, but the first year was spent working toward getting the patents.
Kevin O’Leary believes the idea “sucks,” and that’s why there’s no sales.
Lori Greiner says when a product really works, that people want to buy it. With such low sales numbers, she’s not interested. She’s out.
Mark Cuban tells the couple that “there’s a difference between a product and a company,” and that they are a product, not a company. He’s out.
Robert Herjavec believes it’s too soon. Their sales are too small. He’s out.
Kevin O’Leary hates the product and thinks it’s a bad idea. He’s out.
Daymond John is the last Shark standing. Since the couple argued with Mark Cuban when he pointed out that they are competing with people with full-time dedication to their company, John feels that “if we worked together, we’d spend the whole time arguing.” He’s out.
The couple leaves the Tank with no deal.
Squeeky Knees Shark Tank Update
Although the well-known Shark Tank effect helped give Squeekly Knees a boost immediately after the show, the product never really took off. The website is still online, but the social media has not been updated since 2014, and many items listed for sale are out of stock.
Mark Cuban pointed out that, with Ivan working full-time, and Lisa dedicated to full-time motherhood, it would be difficult for the pair to dedicate the time they would need to invest in marketing and producing Squeeky Knees. Although they both objected strongly to his assessment at the time, he had a valid point, which appears to have played out as predicted.
Squeeky Knees might have been a good idea, but the Sharks smelled out where this one was headed, and passed it by. They were right to do so, the company shut down in 2017.
Posts About Squeeky Knees on Shark Tank Blog
Squeaky Knees -Toddler Clothes
Squeeky Knees Information
Video
Great idea! I think some one missed an opportunity with this one. My grandson was a speed demon when crawling. Once, he was out the back door in a second!