KaZAM bikes: What Happened After Shark Tank?

We have all grown up learning how to cycle is a tough balancing act and definitely not without wheels for the little ones. Those days are over now as Mary Beth brings you her version of balancing the bike and of course without the training wheels. Truly ingenious which allows the kids to balance it themselves.

KaZAM Bikes is specially built for kids who are just about learning how to ride and they are fantastic for kids of three to six years with ease.

KaZAM bikes at a glance:

EPISODE No.Season 4 Episode 24
IDEABalanced enabled Kids Bike
FOUNDERMary Beth Lugo
ASKED FOR$300,000 For 20%
ACCEPTED OFFER$300,000 For 32%
SHARKBarbara Corcoran And Mark Cuban
BUSINESS STATUSIn Business
WEBSITEKaZAM Bikes

Index:

Founder Story:

KaZAM bikes are a unique concept in which the focus on bikes for kids 2.5 to 6.5 years on balance and control rather than relying on training wheels for support as kaZAM is the first of its kind in this balance bike revolution. This method did prevail in Europe but Mary brought this to the US as one of the easiest and safest ways to teach children how to ride.

KaZAM’s are well known as “No Peddles – No Problem.” As these balance bikes do not rely on peddles for movement rather kids use their own feet to push them forward. KaZAM bikes are of two models and host an array of colors. The models are V2E and V2S and have won the Oppenheim Toy Portfolio Platinum Award for the very reason being the most innovative products.

Did KaZAM bikes get a deal on Shark Tank?

Mary Beth came into Shark Tank seeking an investment of $300,000 for a stake of 20% of KaZAM. The product has a patent and is also being awarded as an innovative product in the market. Its been a great start for kaZAM bikes on sales which had reached $1.4 million within three years. She projects another $1.3 million in the coming year which was in 2013.

Sharks were impressed with the KaZAM bikes product and sales figures, Mark Cuban makes an offer of $300,000 for 40% to Mary Beth that too with a condition if Mary can convince Barbara to come in. It was quite a moment as Mary Beth does convince Barbara to join her. Mary counter offers at 32% and Barbara agrees. Wow!! Mary walks out with a shark tank deal from Mark and Barbara at the Shark Tank.

What happened to KaZAM bikes after Shark Tank?

Post the shark tank episode of kaZAM by Mary Beth Lugo their publicity increased a lot. Duo sharks Mark Cuban and Barbara Corcoran with their business skills honed the kaZAM balance bikes to new heights.

Within a few months, Mark Cuban invested in KaZAM balancing bikes and their sales skyrocketed to $1.5 million. Balancing bikes became a new phenomenon as they appeared in Sky Magazine, earned their much-deserved recognition from Oppenheim Toy Portfolio, and to top it all won Mr.Dad Seal of Approval. The real boost came once the KaZAM bikes made their debut at Dicks Sporting Goods stores which has reached its epitome of children’s retail products at Toys R Us.

See also  Shark Tank Skin Care: Real or Cap?

KaZAM is a Mark Cuban investment that proudly sells quality products at reasonable prices. The price range of these balancing bikes is $49.99 onwards to $139.99. Mary explained that the bikes were manufactured with a cost of $38 and distributed in wholesale for $45, and at sales rocks for $99.95, which is an awesome margin for any business to thrive for.

KaZAM bikes shark tank update
Kazam revenue(YoY)

KaZAM balancing bikes have rocked the world of kids already a craze in the US has now spread to Canada Australia, Japan, and Singapore. In the world around now, children can ride bikes with no training wheels using the patented KaZAM Bike mechanism. Great product features and well-articulated in large retail store websites like Amazon allows parents to review and decide quickly for their little ones.

KaZAM v2s Balance Bike Key Features:

KaZAM BikesKaZAM v2e Balance BikeKaZAM v2s Balance BikeKaZAM Pro Alloy Balance Bike
Age Range (Years)2-5 Yrs2-5 Yrs2-5 Yrs
In-seam (Inches)12.0 – 17.0 Inches12.0 – 17.0 Inches12.0 – 17.0 Inches
TyreEVA Foam and Puncture ProofReal Air TyreReal Air Tyre
Wheel TypePlastic Mag WheelSteel Rim with Stainless Steel SpokesSteel Rim with Stainless Steel Spokes
Frame MaterialDurable High Tensile SteelDurable High Tensile SteelLightweight Aluminum
SaddleFoam PaddedFoam PaddedDeluxe Foam Padded
StemOne piece Handlebar and IntegratedOnce Handlebar and Integrated2 Bolts and Adjustable

Investors in KaZAM bikes:

  • Mark Cuban

The richest investor of Shark Tank with more than 200+ Shark Tank Deals under his belt. Owns some of the renowned business-like Dallas Mavericks and featured in Forbes 400 list with a net worth of $4.5 billion dollars.

  • Barbara Corcoran

She is the founder of Corcoran Group a real estate brokerage entity and has more than 50+ deals in Shark Tank to her credit. Barbara has invested in multiple female entrepreneur ventures, almost 50 + shark tank deals, and a net worth of $100 million.

What is Kazam bike worth?

At the time of the shark tank appearance, the Kazam bike was valued at around $937,500. In 2021, their revenue peaked at $5 million from $0.35 million in 2013.

Interesting facts about KaZAM bikes:

  • KaZAM bikes are ideal for kids between 2-5 years old based on the child’s inseam.
  • In-Seam can be measured using the height of the kids of their pants. Typically works best between 12” to 17” inches.
  • Height adjustable for kids as the seat and handlebar can be increased for the child to fit them properly as they grow.
  • Is it too heavy, not to worry at all? Kids should have problems holding them standing or sitting.

Is KaZAM bikes still in business?

The company has grown leaps and bounds and in 2021 has already hit annual revenue of $5 million. KaZAM bikes are a craze among kids across the 48 contiguous states of the US and Mary Beth Lugo is cruising well with her shark counterparts. A recent addition was a mini trike for young children.

KaZAM balance bikes have won various awards across toy industry groups and parents for being a great teaching tool and a fun, quality toy.

Do Share Your Thoughts:

Do tell us all your thoughts in the comments section below, we look forward to reading all the comments in the section below.

Also, do check our Startup Resources section, and don’t forget to join our weekly newsletter 📰 which contains pure startup and business wisdom and no bullshit!!

Do follow us:

Related Articles:

What is KaZAM bikes?

KaZAM Biles is specially built for kids who are just about learning how to ride and they are fantastic for kids of three to six years with ease.

Who founded KaZAM bikes?

Mary Beth brings you her version of balancing the bike and of course without the training wheels. Truly ingenious which allows the kids to balance it themselves.

Leave a Comment

You cannot copy content of this page

Scroll to Top