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Banana Phone Shark Tank Update

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Banana Phone is exactly what the name suggests. A banana Phone is a cell phone shaped and made like an actual banana. The Banana Phone can be connected to any Apple or Android phone through Bluetooth and one can talk on the Banana Phone easily. The company also started selling a Heart Phone- a cell phone that is shaped and looks like a heart.

The Banana Phone is made from recycled plastic and chips that are conflict-free. The packaging of the product is completely recyclable as well. Banana Phone is compatible with Siri, Alexa, and other Bluetooth speakers. One Banana Phone costs $39.99 and is available for sale online.

Banana Phone at a Glance:-

IdeaBanana-shaped Bluetooth device which connects easily to your smartphones
FoundersBrian Brunsing, Max Brown, and Charlie Katrycz
Asked For$250,000 for 10% equity
Accepted DealNo deal
SharksNo Sharks
Business statusIn Business
Episode No.Season 14,  Episode y
WebsiteBanana Phone
Buy on AmazonBuy Now!

Index:

Who are the founders of Banana Phone?

Max Brown, Brian Bruising, and Charlie Katrycz are the founders of Banana Phone. They are running Banana Phone as a side business as Max is the president of a leather company, Brian works with Visa in e-commerce and Charlie is an industrial engineer. They launched Banana Phone through an IndieGoGo funding campaign organized in May 2017 and they raised $44,850.

They completed and delivered all the orders by November 2017. They donate 1% of their total annual sales to a non-profit organization named Gearing Up 4 Gorillas that work towards conserving mountain gorillas in the Virunga National Park in Congo.

Did Banana Phone get a deal on the Shark Tank?

Max Brown and Brian Brunshing came on the shark tank seeking an investment of $250,000 for an exchange of 10% equity in the business. Max ad Brian started their presentation by pointing out three things about the regular job; It’s boring, turned humans into machines, and no more fun in the surrounding. After their entertaining introduction, they pulled out a Banana Phone and the sharks started laughing.

Max and Brain explained the whole features of the Banana Phone and how it works. They did sales of $1.6 million before coming to the show. Max shared that in 2021 they had a net margin of $123,000. Brain said they didn’t hold any patent right instead they have a trademark to protect their business. Kevin O’Leary asked them if they would go into this full-time. Kevin O’Leary asked about the need for money, Max said they wanted to go into retail. Kevin didn’t like the idea of going into retail so he went out.

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Mark Cuban said he isn’t the right fit for this business and went out. Robert Herjavec didn’t find it as a scalable business and went out. Lori Greiner said she doesn’t invest in novelty products so she is out too. Barbara Corcoran is out because the founders are themselves involved in the business as a part-timer. No deal was offered on the show, and Max and Brain moved out of the platform with a bit of good luck from the sharks.

What happened to Banana Phone after the Shark Tank Show?

Banana Phone did not get any deal on Shark Tank. As of September 2022, Banana Phone had total sales of $1.6 million. Many people tweeted their opinions about the product. They made fun of Banana Phone. During the pitch, they came up with a valuation of $2.5 million which was denied by all the sharks. Some of them did not picture themselves with the product whereas others would not mind having a little fun with the same. The current net worth of Banana Phone is estimated at $2.5 million.

Banana Phone has also been featured in Huffpost, Esquire, and The Verge. Banana Phone costs $39.99 and it works with Android and iPhone. Customer Acquisition costs  $9 which impressed the sharks. They also released a kid song named Banana phone on YouTube which gained 25 million views as of 2022.

 In March 2022, actress Reese Witherspoon posted a reel on Instagram related to her “weird” purchase of a Banana Phone. This fruit tech business was started by three friends and they are currently doing regular paid jobs.

Competitors of Banana Phone are:-

There are no identified customers found for Banana Phone. Banana Phone is completely a unique business concept in the market. There are various Bluetooth devices available in the market but, Banana Phone is different from others.

What is the net worth of Banana Phone?

The estimated net worth of Banana Phone is $2.5 million as per the founders. They had a valuation of $2.5 million on the show.

Is Banana Phone still in business?

Banana Phone is still in business. As of 2022, they have gained 25 million views on their Youtube Banana Songs. Further updates will be done soon.

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FAQs:

What is Banana Phone?

Banana Phone is exactly what the name suggests. A banana Phone is a cell phone shaped and made like an actual banana. The Banana Phone can be connected to any Apple or Android phone through Bluetooth and one can talk on the Banana Phone easily.

What's the net worth of Banana Phone?

The estimated net worth of Banana Phone is $2.5 million as per the founders. They had a valuation of $2.5 million on the show.

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