Highlights
- Christina Conrad presents The BoobyPack, a sports bra with zippered, waterproof pockets for storing valuables, seeking $80,000 for 20% equity on Shark Tank.
- After rejecting a royalty offer from Kevin O’Leary, Christina secures a deal with Barbara Corcoran for $80,000 in exchange for 25% equity.
- Despite initial success, The BoobyPack business was shut down in December 2017. Christina has since moved to England, where she works as a freelance writer.
Overview
| Category | Details |
|---|---|
| Name | The BoobyPack |
| Founder | Christina Conrad |
| Industry | Fashion, Activewear, Accessories |
| Product | Sports bra with zippered, waterproof pockets for storing valuables |
| Funding | Secured $80,000 from Barbara Corcoran for 25% equity |
| Investment Ask | $80,000 |
| Equity Offered | 20% |
| Valuation | $400,000 |
Christina Conrad pitches the BoobyPack, a “fanny pack for your rack,” to the Sharks in Shark Tank episode 622. The BoobyPack is a sports bra with zippered, waterproof, pockets for holding cell phones, credit cards, and cash. Christina likes the EDM (Electronic Dance Music) scene and she invented the BoobyPack to have a secure place to stow valuables when attending raves. The product is patent-pending and made in New York City.
Initially, Conrad targeted the EDM crowd to market her product, but she’s aiming for any women who workout or lead an otherwise active lifestyle. She got the BoobyPack off the ground with a successful Kickstarter campaign back in January, 2013. She managed to raise $32,725 – more than twice her $15,000 goal.
The BoobyPack comes in about a dozen styles, including tank top BoobyPacks. You can purchase The BoobyPack on the company website. Pick a style and color and even personalize it if you want (that’s extra); if you order now, you can even get a limited-edition Shark Tank Top. Expect to pay between $54 and $60 each.
Conrad likely needs cash to fund inventory and some help with retail distribution. Will the Sharks pack up an investment in The BoobyPack?
The BoobyPack Shark Tank Recap
Christina enters $80K for 20% of the BoobyPack. She has a model demonstrate the pockets and asks which Shark wants to be her “breast friend.” She hands out samples. It costs her $7 to make one and she sells them for $55. She tells about her Kickstarter success and says she’s done over $160K in sales.
For now, she wants to keep selling online, but wants to go to the next level. Mark wants to know her customer acquisition costs, which is about $7 per customer. She wants to ramp up SEO marketing and do more advertising. She reveals her dad left her some money when he passed away which is how she can afford to grow without taking a salary.
Mark thinks it’s a product, not a company; he’s out. Mr. Wonderful offers $80K with a $10 per unit royalty in perpetuity. Christina declines. Barbara says she thinks she’ll be fine on her ow, she’s out. Lori follows suit for the same reason. Robert thinks she’s relentless and offers $80K for 30%. Mr. Wonderful then modifies his offer to $80K for the $10 per unit royalty, which goes away when he recoups 4 times his investment, then he keeps 5%.
Christina asks Robert if he’ll go to 25% and Barbara says “I’ll take that deal!”
RESULT: DEAL with Barbara Corcoran for $80K for 25% of BoobyPack
The BoobyPack Shark Tank Update
The Shark Tank Blog constantly provides updates and follow-ups about entrepreneurs who have appeared on the Shark Tank TV show. Christina shut the business down in December, 2017. As of August, 2021, she is living in England with her husband and works as a freelance writer.
Posts About The BoobyPack on Shark Tank Blog
The BoobyPack Company Information
Video
Hi, I’m after a similar need for me as a man. Maybe zippered pockets in a compression short.
Cell phones emit radio frequency. Thousands of scientific studies show evidence on RF exposure and human cancer. The worst idea is to put your cellphone in a pocket close to your breast. I could not believe Barbara invested on this.I think they are out of business, this will save a lot of women from getting breast cancer.I hope whoever owns one, will at least put it on airplane mode or turn it off….
No there is no scientific evidence on you clams many study’s have Been done and the result is there is no profs that it does