With growing concerns about the impact of pesticides on our environment, sustainable alternatives have become the need of the hour. One such innovative solution is BatBnB, a business conceived by founders Harrison Broadhurst and Chris Rannefors. Their unique concept, which was featured on ABC’s “Shark Tank,” has caught the attention of many. Let’s delve into the BatBnB Shark Tank update and learn more about this fascinating venture.
The BatBnB Pitch And Deal At Shark Tank
In 2016, Broadhurst and Rannefors showcased their brainchild, BatBnB, on the renowned platform “Shark Tank.” Their pitch revolved around a unique solution to pest control – providing habitats for bats, nature’s own pest controllers.
They asked for an investment of $100,000 in exchange for 16% equity in their business. Entrepreneur Kevin O’Leary was intrigued by this idea and made an offer, which the founders accepted.
Is BatBnB Gone Out of Business?
Contrary to what some may believe, BatBnB has not gone out of business following their Shark Tank appearance. Although the deal with O’Leary didn’t close, the business has been thriving.
They’ve managed to expand their team, adding roles such as Design and Fabrication, Marketing and Operations, and Community Engagement and Partnership. Today, BatBnB products are sold across the United States and in 13 other countries, proving that they’re far from being out of business.
What Was BatBnB Net Worth?
As of their Shark Tank pitch, BatBnB had a revenue of $135,000. With each BatBnB unit priced at $249 and costing $88.50 to produce, the company was already showcasing promising figures. Given the growth and expansion they’ve experienced since their Shark Tank appearance, it’s safe to say their net worth has significantly increased.
Business Overview
BatBnB offers a sustainable solution to the mosquito problem that plagues many households. They’ve designed units that can host 80 to 100 bats, each capable of consuming up to a thousand mosquito-sized insects per hour. In addition to the bat houses, they also sell a variety of bat-related products and educational materials, continuously updating their website and social media with resources to support bat populations.
Their commitment to environmental sustainability is commendable. Using eco-friendly materials and practicing carbon offsetting, BatBnB is a business that truly cares about its impact on the environment. They claim to have sheltered over 600,000 bats and educated millions about the importance of bats, altering the often negative perception associated with these creatures.
Conclusion
BatBnB has certainly made its mark in the world of sustainable pest control since its Shark Tank appearance. Despite the deal with O’Leary falling through, the company has continued to grow and expand, both in terms of its product range and its reach.
With a strong commitment to changing perceptions about bats and promoting environmental sustainability, BatBnB stands as an inspiring example of innovative, eco-friendly business. As we continue to monitor the BatBnB Shark Tank update, we eagerly anticipate how this unique venture will continue to evolve and inspire.
