What Happened to Yubo Lunch Box After Shark Tank?
What is Yubo Lunch Box?
Yubo is a modular lunch box system made up of reusable, washable containers that stack within each lunch box.
Kids may customize their lunch box with their name and a selection of detachable faceplates with appealing artwork. Personalized lunch boxes may be embellished with anything from original artwork to photographs and more.
Paul and Cyndi Pedrazzi invented the Yubo Lunchbox idea in 2007. The entire piece detaches and may be washed in the dishwasher. The top and bottom are easily removed and placed in the dishwasher to be thoroughly cleaned in every nook and cranny.
Each lunch box comprises a luxury package that includes a range of compartments for full-size sandwiches and smaller delights, as well as a custom-fitted ice pack that sits on the bottom, directly underneath the food-storage containers.
Who is the founder of Yubo Lunch Box?
The Yubo Lunchbox was founded in 2007 by Paul and Cyndi Pedrazzi. When the couple became dissatisfied with the number of plastic baggies they were using for their children’s lunches, they decided to rebuild the lunch box.
During their first three years of operation, the firm developed significantly and ended 2013 with a list price of $30 for the basic lunchbox, which held a sandwich and a snack item.
This is crucial since the materials are free of BPA and phthalates. The overall bundle was incredibly powerful.
There are an endless amount of food storage combo options. With three different container inserts, the Yubo lets anybody to pack nearly whatever they have in their meal plans for lunch! Kids enjoy different containers for their lunches, and the Yubo allows me to include a variety of items in their lunch.
According to the Pedrazzi, the range of design options stops youngsters from becoming bored with their lunch boxes. Yubo is available on Amazon and at select shops worldwide.
What Happened to Yubo Lunch Box During the Shark Tank Pitch?
In episode 10 of season 5 of Yubo Lunch Box on Shark Tank, Cyndi and Paul decided to pitch their brand to Shark Tank investors in order to get distribution in larger retail outlets.
Paul and Cyndi entered the Shark Tank, seeking $150,000 in return for a 15% ownership in their company, Yubo, which valued at $1 million.
The entrepreneurs show off their daughter’s cloth lunchboxes, estimating that they use 2,000 plastic bags each year.
Yubo was dishwasher safe and has one-of-a-kind containers as well as a snug-fitting ice pack. They give each Shark a personalized Yubo box.
The prices for the boxes range from $21 for a basic box with no frills to $30-40 for a fully personalized and painted Yubo.
The pair now has access to 100 retail outlets. They’ve been on the market for four years and are projected to sell for $200 to $250,000.
They’re ready to expand their retail possibilities, and Cyndi plans to collaborate with Disney to negotiate an arrangement that would allow tourists to purchase Yubo customized with photographs from their park visit straight in the gift shop.
There is one stipulation in the pair’s offer. To obtain manufacturing, they were forced to trade 20% of the company to the first manufacturer, as well as a 5% sliding scale royalty on sales, which drops to 1% once 750,000 units are sold.
Mark Cuban went out, declaring that “the notion of monarchy was so wrong.” According to Barbara Corcoran, the Yubo was too big to fit neatly in a backpack. She exited.
Kevin O’Leary makes a proposal. He was willing to give them $150,000 in exchange for 10% stock, but he also needs the manufacturer’s royalty deal. Paul isn’t sure that an additional royalty was a good idea.
Robert Herjavec has joined the fray. He was offering $150,000 in return for a 30% stake in the company, claiming that “this was a legitimate home run.”
Lori Greiner makes a third offer of $150,000 in return for a 20% stake. She was already a part of the Disney cast and has a deal with Walmart.
Kevin O’Leary eliminates the royalty and decreases his ownership position to $150,000 for 20% equity shares, while also allowing couples to buy him out for 12.5% if they pay back the initial investment in 18 months.
Lori Greiner isn’t about to be outdone. She decreases her request to $150,000 for a 15% ownership in the company, but she insists on payback within 15 months.
Robert Herjavec makes a non-repayable offer of $150,000 for 15% equity shares, causing Kevin O’Leary to revise his offer somewhat, cutting his 12.5% ownership to 10%.
The couple desires to exit the Shark Tank in order to examine the offers, but the Sharks warn them that things in the Shark Tank might change rapidly.
Robert Herjavec suggests partnering with Kevin O’Leary in exchange for $150,000 in exchange for 15% stock in the company, with the option to cut the share to 10% if the investment was recovered within 18 months.
Finally, the couple accepts Kevin and Robert offers and exits the pitch with a deal.
What Happened to Yubo Lunch Box After Shark Tank?
The Yubo skyrocketed to stardom after appearing on Shark Tank. The deal between Kevin, Robert, and Yubo Lunch Box was completed.
The Sharks delivered on their promise, catapulting Yubo to new heights of lunch box popularity. In addition to the United States, the Yubo is now available in Australia, Canada, Hong Kong, Indonesia, the Netherlands, Norway, Turkey, the United Arab Emirates, and England.
The boxes are available through Amazon, Disney stores, and a variety of other major retailers. Yubo has released the Yubo Tote, a washable bag that detaches to lay flat for easy cleaning.
The Tote features a larger capacity that is more suitable for older children’s appetites, as well as a more mature design for youngsters who have outgrown carrying a “lunchbox” to school.
The company went out of business in January 2019. Cyndi posted the following on the company’s Facebook page:
Yubo Lunch Box’s Competitors
The Yubo Lunch Box competes in the market with LunchBots, LunchBlox, and School Zone Lunch Boxes.
Yubo Lunch Box’s Net Worth
During the pitch, the firm was valued at $1 million, following a $750,000 investment by two Sharks. Since then, the firm has ceased operations; therefore the current net worth is unavailable.
Yubo Lunch Box FAQs
How did Yubo Lunch Box work?
The Yubo Lunch Box was a durable, waterproof lunch box.
How long did a user need to sign up for an account?
A user needed to sign up for an account in order to use the Yubo lunchbox. Afterward, the maximum number of transactions per month was two.
What is the Yubo Lunch Box made of?
The Yubo lunch box is made of polypropylene.
How do you use Yubo Lunch Boxes?
Users needed to measure out the appropriate portion sizes, seal them in the correct size container, label it with a sharpie or a dry erase marker, and place in the appropriate compartment.
How much did Yubo Lunch Boxes cost?
Yubo Lunch Boxes cost $21 for basic boxes. For a fully customized box, Yubo Lunch Boxes cost $30-40.
How much did a package of markers last?
A package of 6 markers lasts approximately 10 days.
How was Yubo used?
Yubo Lunch Boxes were used as lunch bags. Each meal had a corresponding colored label that the user placed on the pouch. The bags were then sealed and stored in the appropriate compartment. Yubo Lunch Boxes could be used at school, work, or during playdates.
Was Yubo Lunch Box safe to use?
Yes. Unlike some lunch boxes that contain harmful chemicals, the Yubo Lunch Box was BPA-free.
What is the Yubo Lunch Tote?
The Yubo Lunch Tote is a larger version of the original lunch box.
How many colors of Yubo Lunch Box makes?
Currently, Yubo Lunch Box had released six colors: Pink, yellow, orange, blue, purple, and black.
Who makes Yubo Lunch Boxes?
Yubo Lunch Boxes were made by Cyndi Wu.
What is the size of a Yubo Lunch Box?
The size of a basic lunch box was 7.0 x 4.5 x 8.0 inches (18 x 11 x 20 cm). The Tote was slightly larger at 10.25 x 6.75 x 8.
How do you clean a Yubo Lunch Box?
The Yubo Lunch Box was machine washable.
Did Yubo Lunch Box have a warranty?
Yes, the Yubo Lunch Box had a one-year limited manufacturer’s warranty. The deadline for filing a claim was one year from the date of purchase.
What was the return policy of Yubo Lunch Box?
A user could return the lunch box to a store within 60 days of purchase for a full refund.
What was the packaging for a Yubo Lunch Box?
The Yubo Lunch Box was packaged in an adorable and reusable Yubo lunch box, which included an instruction manual as well as other helpful information.
What were some features of the Yubo Lunch Box?
The manufacturing company made their products so that they would be safe and stable to use.