Brenda Lee Feldman, the founder of InchBug, stepped into the Shark Tank, ready to showcase her latest invention: MyDrinky. This innovative juice box holder was designed to prevent spills and messes, making it a game-changer for parents everywhere. But what happened after Feldman’s appearance on the show? In this blog post, we’ll take a closer look at MyDrinky’s journey and find out where the company stands today.
The MyDrinky Pitch And Deal At Shark Tank
Feldman entered the Shark Tank seeking $400,000 for a 10% stake in her company, InchBug. While MyDrinky was the focus of her pitch, she emphasized that InchBug was a multi-product company with a proven track record. Her flagship product, the InchBug Orbit Labels, had generated an impressive $15 million in lifetime sales, with $2 million in the previous year alone.
Despite the strong sales figures for the Orbit Labels, the Sharks were not entirely convinced by MyDrinky’s potential. With only $50,000 in sales, some Sharks expressed concerns about the product’s viability in the retail market. Kevin O’Leary, however, saw an opportunity and offered $400,000 for a $1 per unit royalty until he recouped $1.2 million, plus a 5% stake in the business.
Is MyDrinky Gone Out Of Business?
After careful consideration, Feldman decided to decline O’Leary’s offer, as she disagreed with his strategy for retail expansion. This decision led many viewers to wonder if MyDrinky had gone out of business.Following her appearance on Shark Tank, Feldman continued to grow InchBug and expand its product offerings.
The company successfully entered buybuyBaby and other small stores, while also establishing a thriving presence on Amazon. In August 2021, InchBug launched the Orbit Label 2.0, featuring contrasting personalization without the use of ink or paint and made entirely from kid-safe silicone.
What Was MyDrinky Net Worth?
While the exact net worth of MyDrinky is not publicly known, it’s clear that InchBug as a whole has experienced significant growth since Feldman’s Shark Tank appearance. As of November 2022, the company’s annual revenue reached an impressive $5 million, demonstrating the strength of its product line and the demand for innovative solutions for parents.
Business Overview
InchBug’s success can be attributed to its focus on creating practical, personalized products for children and their families. The company’s product line includes:
- InchBug Orbit Labels: Stretch-and-release bands that fit snugly around various containers and can be personalized with a child’s name.
- Adhesive Stickers: Personalized stickers for clothing, belongings, and allergy alerts.
- MyDrinky: A juice box holder designed to prevent spills and messes.
- Other Products: Training pants, bibs, utensils, and swim goggles, all available with personalization options.
With prices ranging from $8 to $13, InchBug’s products are affordable and accessible to a wide range of consumers. The company’s commitment to innovation and adaptability has allowed it to thrive in a competitive market.
Conclusion
While MyDrinky may not have secured a deal on Shark Tank, the product’s journey is far from over. As part of the larger InchBug brand, MyDrinky continues to provide parents with a practical solution for preventing messes during snack time. Brenda Lee Feldman’s dedication to creating innovative, personalized products has propelled InchBug to new heights, with a growing product line and impressive annual revenue.
The story of MyDrinky and InchBug serves as a reminder that success in business often requires perseverance, adaptability, and a willingness to take risks. By staying true to her vision and continually expanding her offerings, Feldman has built a thriving company that resonates with parents everywhere. As InchBug continues to grow and evolve, it’s clear that the best is yet to come for this innovative brand.
