Ava the Elephant is a medicine manufacturing company but it has something exceptional in it which makes it a talking/singing medicine patent.
Its dispenser design makes it hassle-free for both kids and adults. This is a kind of toy which has a medicine dropper in it, which allows kids to have medicine without creating any fuss or mess.
Ava the Elephant at a glance:
| BUSINESS Idea | Fun Medicine Dispenser For Kids |
| Founder | Tiffany Krumins |
| ASKED FOR | $50,000 For 15% |
| ACCEPTED OFFER | $50,000 For 55% |
| SHARK | Barbara Corcoran |
| BUSINESS STATUS | In Business |
Index:
Who is the owner of Ava the Elephant?
Tiffany Krumins is the founder of Ava the Elephant. She also runs the product genius podcast and is a business mentor and consultant. Tiffany had this idea when she was working as a caregiver for a small boy. When she used to give him medicine, he used to turn fussy which made the process unpleasant.
So he thought of doing something about this to which she invented a singing elephant toy that had a dropper in it, which makes the whole process simpler and pleasant. She had a clay prototype and a vision in her hand which was enough for a thought to become a great reality.
Did Ava the Elephant get a deal on Shark Tank?
Krumins came into Shark Tank in season 1, episode 1 looking for an investment, and expertise from sharks, of amount $500,000 for 15% equity in her business.
She was having a few prototypes in her hand during her pitch which she explained clearly to the sharks. After a small examination done by sharks, it came out that she didn’t have a registered patent and she needed investment for the same.
Kevin O’Leary moved out as she thought that it was just an idea, not a business. John and Harrington went out as they wanted to see a real product rather than just an idea. Robert also moved out as he didn’t find it investable and at an early stage.
In the end, Barbara Corcoran gave an offer that shocked everyone but it was an offer of $500,000 for 55% equity in the business. Tiffany didn’t have any choice, she took the deal and got an investment.
What happened to Ava the Elephant after the Shark Tank?
After Shark Tank, the combination of Barbara and Tiffany and all their efforts made Ava the Elephant a widely loved product and a successful business. It also inspired many Mompreneurs. It also made its path available in 10,000 plus retailers like CVS, Walgreen, Walmart, and Amazon. It has sold 100,000 units with $1 million sales. Before that, it had a valuation of $90,909.
It was also produced in different languages and various countries like Canada, Mexico, Asia, and London. In 2013, she launched the 2nd edition of Ava the Elephant thermometer sticker- a sticker that helps to check the child’s temperature. After so many years in business, Tiffany licensed her brand to a baby products brand, Baby Delight. In 2019, her license got terminated.
In March 2021, Ava the Elephant signed an agreement with Beebo that sells patented baby products. It has also launched a 10 ml long syringe.
How much is Ava the Elephant worth?
At the time of the shark tank appearance, Ava the Elephant was valued at around $91,000.
Ava the Elephant is available on various platforms online and offline which fills the pockets of Tiffany and her business. It is an attractive and unique quality holding product that increases its sales and growth. After tying with Better family Inc., it got a rise in its profit. It has varieties of products in it which has maintained it till now in the market.
Competitor analysis:
It is completely a new and unique product, there are many alternatives to it but as similar is not available. Even though it has a quite competitive market:-
- EzyDose
- Munchkins
- Fridababy
Is Ava the Elephant still in business?
Ava the Elephant walked out with a great deal from Shark Tank and was running successfully under its own brand name. It was sold in more than 10,000 retail stores.
They introduced a thermometer for babies in 2013. After seven years of being in the market, Ava the Elephant was patented to Baby Delight but in 2019, due to the licensing agreement getting expired, the company withdrew its patent from Baby Delight.
A contract was made with Better Family Inc. Ava the Elephant has been very successful and will still be in the near future under Better Family Inc. It has generated over a million-dollar revenue annually.
Interesting facts:
A few of the interesting facts about it are:-
- It is very easy to use.
- It is very comfortable to handle
- It was just an idea at the beginning
- It is available in 10,000 plus retailer shops
- It is a combination of toys with medicine droppers inside it.
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What is Ava the Elephant?
Ava the Elephant is a medicine manufacturing company but it has something exceptional in it which makes it a talking/singing medicine patent.
Who founded Ava the Elephant?
Tiffany Krumins is the founder of Ava the Elephant. She also runs the product genius podcast and is a business mentor and consultant.