VaBroom Shark Tank Update

VaBroom – Va ( Vacuum) + Broom. VaBroom is a brand that gives two features in one product/ device. VaBroom is a hybrid that is pressure activated and works perfectly for small spills and messes. VaBroom is not an alternative or competitor to Vacuum, although it is an updated version of Broom, which is a lightweight product and is very popular among people as it breaks the tradition of bending while cleaning. It cuts down the use of a dustpan.

VaBroom follows the Direct to Customer chain model ( D2C ) and it has also been featured on Bed Bath Beyond along with its own shops and website. VaBroom, in its initial stage, itself was appealing, but when it was found that it was manufactured in its hometown, it was sold completely.

VaBroom at a Glance:-

Idea	2 -in – 1, Vacuum and Broom
Founders	Trevor Lambert and John Vadnais
Asked For	$350,000 for 2.5%
Accepted Deal	$350,000 for 3% until the doubled amount is recouped along with 2.5% of Design firms
Sharks	Kevin O’Leary
Business status	In Business
Episode No.	Season 13, Episode 11
Website	VaBroom
Buy on Amazon	Buy Now!

Index:

Who was the founder of Va Broom?

A team of 8 members is behind this VaBroom business and is working efficiently for its growth. On the Shark Tank, VaBroom was presented by Trevor Lambert and Logistics John Vadnais. Apart from them, VaBroom was invented by Joseph Caswell, Tom Grim ( Industrial Designer), Ryan Gosche ( Digital Designer ), Andy Ulseth ( Business development), and Katie Elder ( Public Relations ), Anney ( Project Manager ). VaBroom was founded in 2010.

Did VaBroom get a deal on the Shark Tank?

Trevor and John came to the show in search of investment and expertise from the Sharks. VaBroom placed a pitch of $350,000 for 2.5% of their company. After, they demonstrated and explained the use of the product. Kevin O’Leary came and tried it and found it really cool. Sharks took the sample and investigated it. Before coming to show, they had sales of $3.1 million in 1 year and were projected at $5 million for the next 12 months.

VaBroom sells only through the D2C model. They delivered a 2-month test supply kit to Bed Beyond and bath and it sold out in a week. Lori asked about the patents. John said international patents are in their hands but the U.S product was still in process. John came into this as an investor and had invested $200,000 in it. They also had a Kickstarter Campaign and the remaining campaign was funded by a Design Firm.

VaBroom pays a royalty of 5% to firms. Mark didn’t like the business distribution strategy and went out. Peter liked the pitch but didn’t, but it was investable and he went out. Daymond John said they came here to get attention or they were too greedy and moved out. Kevin O’Leary said he’d be ready to share an offer of $350,000 but wanted a 3% royalty until he recouped $700,000 plus 2.5% of the design firm.

Lori was not sure about getting their patent right as well due to heavy competition. She didn’t offer any deal. They gave a counter offer to Kevin for $700,000 for 5% of the company. After negotiating, they took Kevin’s deal. Kevin said he had made this deal so that he could buy a broom for Barbara Corcoran every year.

What happened to VaBroom after Shark Tank?

After the show, the deal made between VaBroom and Kevin O’Leary was never closed. They have also appeared on dozens of shows to market their products and their USP. They have appeared in shows like Trend Hunter, Digital Trends, and many more. The appearance on Shark Tank really helped VaBroom to gain a peak in sales.

Currently, VaBroom is available on its website for order placements. VaBroom products come with a warranty of 1 year. VaBroom costs $59.99 per piece. It is also available on Amazon, Bed Bath, and Beyond, and Lowe’s Home Improvement.

During the pitch, VaBroom asked for a valuation of $14 million approximately. The broom is placed at the customer’s door in a box, it is segmented into 4 parts, a process that requires 5 minutes of input to assemble. It runs on a battery and requires a high-powered lithium-ion battery to use the vacuum part. Although there is no evidence found that deal with Kevin get closed.

Competitors of VaBroom

No identical concept or product is found on the market. There are a few similar products but can’t stand as a competitor in front of VaBroom.

What is the net worth of VaBroom?

The net worth of the VaBroom is $ 5 million ( approx). They asked for a valuation of $14 million during the pitch, also the deal was finalized at the same time, which has changed the net worth of VaBroom. Although there is no evidence found that deal with Kevin get closed.

Is VaBroom still in business?

VaBroom is still in business, but instead of having so much trouble due to Covid -19, they were not able to take or fulfill orders. VaBroom still decided not a stop and made a path for it with its own quality of work and is still on the market, operating successfully. VaBroom continues to thrive after shark tank and against all the odds.

VaBroom social links:

Website

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What is VaBroom?

VaBroom – Va ( Vacuum) + Broom. VaBroom is a brand that gives two features in one product/ device. VaBroom is a hybrid that is pressure activated and works perfectly for small spills and messes.