Does your packing get all frenzy and when you pack it in a storage box that costs you $0.56 cents doesn’t it worry you that it may all fall down and the hard work put into packing it has just gone to waste?
If this is what is bothering you, we got just the thing BZbox and invention by Ms.Keaya Majmundar has come to the rescue by saving your space and time at the cost of $1.75 the boxes come in a variety of colors and sizes.
BZbox at a glance:
- Collapsible home storage box.
- Founder: Kaeya Majmunder
- Asked For $50,000 for 20% at $250,000 valuation on Shark Tank.
- Received $50,000 fro $40% from Lori Greiner.
- Out of business.
Index:
Founders Story:
The college life of Ms.Keaya Majundar was going swell till midway when she found out her best friend was shifting. When she was going from the room to the car all the packaged material fell out of the box and on the road. As all of it fell down, she felt that all her hard work had gone to waste and she got frustrated when she packed it again this time, she taped it from the bottom to prevent the fall of the items again.
This is when the idea of BZbox came to Keaya and she participated in the biggest competition for entrepreneurs in the country and she ended up winning the competition. Her family immediately agreed and forget about the question they asked related to what she wanted to do in her life instead they supported her and realized the idea was going to be a great success.
BZbox at Shark Tank:
The girl of the compact, foldable storage box BZbox came seeking an investment of $50,000 for 20% equity. Keaya started talking about the incident with her friend that brought her to the idea of the storage box they could see in front of them. She told them how after many prototypes she created the BZbox and how she used this idea to showcase in the competition of entrepreneurs. She ended up winning the competition.
The sharks were asked to go for a race and Robert H opted for it. The race was given a mark by Mark Cuban and after that, in seconds the BZbox was assembled and ready for use. This surprised the sharks but many of them opted out of the deal.
The first question Kevin asked was the cost of the BZbox. She said it was $1.75 and that was for 10000 boxes. Barbara was the star of the show when the girl was not called an entrepreneur and Keaya didn’t have the ability to listen. The first person to ask for an offer of $50,000 and 50% equity of the company by Kevin.
What Happened to BZbox after Shark Tank?
After the deal with the shark tank the owner of BZbox, Keaya had a diversion in her business. She ended up with the new company Keayos which had its very own product development and marketing sections. The second product was ZIP TANK which was showcased in Project Runway. Currently, the 22-year-old Keaya is working on a tech startup known as Gwynnie bee headquartered in san Francisco. It’s an online clothing subscription service.
Valuation of the company:
| Investor Name | Investment Type | Investment | Stake % | Valuation |
| Lori Greiner | Angel | $50,000 | 40% | $1,25,000 |
Net worth of BZbox:
At the time of the shark tank appearance, BZbox was valued at around $125,000. There is no update on the revenue because the business lasted for less than a year and shifted to KEAYOS.
Investors in the company:
Lori Greiner:
- Lori is the queen of QVC and invests in many female entrepreneurs.
- She is an inventor and investor with a net worth of $150 Million.
- She started off with an earrings company.
Competitor Analysis:
| SMART BOX | GO MINIS | ZIPPY SHELL |
| 8X5X7 foot | 12 X16X20 foot | 10X15 foot |
| Local and long-distance | Local, limited long distance | Local and long-distance |
| Limited coverage | Limited coverage | Limited coverage |
Product Analysis:
This product is sold on Amazon and is a compact foldable storage box that saves space and time for the ones that use it. It comes in a variety of colors and sizes and it is the package storage box of the century.
Interesting facts:
- Lori Greiner was a great Mentor and Partner
- The BZBox idea started at Emory University.
- The owner participated in the collegiate competition and won the competition.
- After shark tank, she was overflowing with orders from companies.
- She opened KEAYOS after her BZbox business she changed her line to a clothing and accessory shop.
Is BZBox still in business?
Even though it had a great start and Shark’s investment the Owner Keaya had other plans in mind. She was offered further orders but it was not pursued. She decided to switch business into ZIP TANK and is now part of a TECH Startup.
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What is BZbox?
BZbox is a collapsible home storage box. It saves your space and time at the cost of $1.75.
Who founded BZbox?
Ms.Keaya Majundar came up with the idea of a collapsible home storage box, BZbox.