Press "Enter" to skip to content

Qubits: What Happened After Shark Tank?

0

We as kids are all brought up with Lego-Like toys. Who hasn’t played them as one could build anything with familiar pieces? Mark Burginger the founder of Qubits had a proven track record, as he had previously created and sold a balloon company that made 2 million in sales in a year.

Mark was innovative as he tried building Qubits which will help children in stretching their imagination with its long connectors and geometric designs. Pieces do snap together like other toys with their unique shape and flexibility to build a greater range of design over traditional blocks.

Qubits at a glance:

EPISODE NOSeason 1 Episode 14
BUSINESS IDEAQubits are modular Construction Blocks STEM Toy for children.
FOUNDERMark Burginger
ASKED FOR$90,000 For 51%
ACCEPTED OFFER$90,000 For 51%
SHARKDaymond John
BUSINESS STATUSIn Business
WEBSITEQubits

Index:

Founders Story:

Mark Burginger, our inventor of Qubit’s Toy’s came up with a new concept to counter the Legos of the world. Mark managed to combine the best of both by introducing building structures that were made out of lightweight plastic and designed them using nature’s natural building blocks now well known as Qubit’s.

Burginger provided the ability to create incredible pieces of art that are built by nothing more than snap-on pieces of plastic and capable of building new things that were not possible in Lego with the same pieces.

Qubits shark tank update
Mark Burginger

A renowned USAF member and holding a degree in Architecture, Burginger’s creation of Qubits were to allow children to build outside the box by creating 3D structures that were stronger and more flexible than Lego or other building toys on the market.

Mark’s invention – Qubits Building toys was enough to get Shark Tank show attention. The hosts went on to squeeze in Qubit’s in the very first season and last episode of season 1.

Did Qubits get a deal on Shark Tank?

Mark makes a pitch on Shark Tank seeking a $90,000 investment for a 51% stake in the business. Once the concept is explained and the toys are demonstrated the sharks are more interested.

Barbara Corcoran is curious and enquires for a closer look. Robert with his financial hat found it skeptical as such a good product why would Burginger offer 51% which seems quite generous and questions the decision to offer the controlling share. Mark quickly explains that he wants to have sharks also on board of directors with his product to build a scalable business.

Kevin checks on the sales view, as Mark replies they have already done $8,000 in sales. This low figure does not impress the sharks and Kevin proposes the need to pursue a deal with one of the Big Four toy companies. Robert reiterates that this market is dominated by the construction toy giants and it would be difficult to compete. Kevin is out.

Daymond John is the last shark who is impressed by Mark’s bold move and is confident the toy could become a strong brand in the market. Daymond offers $90,000 for the 51%, with a condition to tie up with major toy manufacturers.

See also  What Happened to Sworkit after Shark Tank?

Unfortunately, Daymond was not successful in the negotiations with the toy manufacturers and a deal with qubits did not materialize. Daymond John continues to mentor Mark on his progress.

What happened to Qubits after the shark tank?

Mark had plenty of inventory and just needed that little boost in advertising to make Qubits a great success story. Though the deal with John didn’t materialize the two remained in touch and soon John became Mentor to Mark and the duo struck a deal with Discovery Toys. Discovery gave the much-needed opportunity as the deal became successful to bring Qubits into the public market and sales soared.

Qubits remain within the ambit of the family business and have a healthy sales record. In spite of no Shark, Deal Qubits became a success story.

Currently, in 2021, Qubits is still in business and has generated annual revenue of an estimated $6 million.

Qubits shark tank update
Revenue(YoY)

Product Analysis:

Qubits is a STEM tool that has been designed to use geometry designs to create wonderful construction toys. Watch this video to experience yourself.

Made of light plastic these pieces can be snapped together to create awesome sturdy shapes. Qubits are credited with multiple awards like :

Products available in the market:

Qubits shark tank update

Interesting facts:

  • Qubits Toy product specializes in providing STEM-style building toys that are easy to assemble and snap together toy.
  • Built-up with a unique patented modular geometry. STEM tools across the US to build construction toys and learn at the same time.
  • Allows children to strengthen their knowledge in the field of geometry.
  • Enhance skills and widen kids’ imagination to arrange the blocks into various shapes creatively.

Qubits net worth and revenue:

At the time of the shark tank appearance, Qubits was valued at around $180,000. In 2021, Qubits has generated annual revenue of an estimated $6 million. Post the engagement with Discovery Toys, Qubit’s quickly sold out of all the inventory on hand. Qubit’s Toys is growing in popularity as many discover the unique possibilities and forms of geometric structures.

Is Qubits from shark tank still in business?

Currently, in 2021, Qubits is still in business and has generated annual revenue of an estimated $6 million. To enjoy a stronger geometric structure Burginger returned to the drawing board and designed to construct with the Qubit’s 2.

With a sign of successful entrepreneurs, Mark Burginger in a new Indigogo campaign to kickstart his new invention, one can now pre-order the limited-edition Qubit’s 2 and assures you will be the first few to start creating things that one could not imagine and thought impossible.

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 Qubits?

Qubits are modular Construction Blocks STEM Toy for children.

Who founded Qubits?

Mark Burginger, our inventor of Qubit’s Toy’s came up with a new concept to counter the  Lego’s of the world. Mark managed to combine the best of both by introducing building structures that were made out of lightweight plastic and designed them using nature’s natural building blocks now well known as Qubit’s.

Leave a Reply