Cubicall After Shark Tank: The Journey to Success
Cubicall, a modern phone booth company, gained widespread recognition after appearing on ABC's Shark Tank in 2020. The company's founders, Jeremy and Jason, pitched their innovative product to the Sharks, seeking an investment of $200,000 in exchange for 10% equity. Let's dive into what happened after their appearance on the show.
The Pitch and the Deal
During their pitch, Jeremy and Jason demonstrated the benefits of their soundproof phone booths, designed to provide a quiet and private space for phone calls in open offices. The Sharks were impressed with the product's unique feature and its potential to solve a common problem in modern workspaces.
After some negotiation, Kevin O'Leary, also known as "Mr. Wonderful," agreed to invest $200,000 in exchange for 15% equity. The deal was finalized, and Cubicall walked away with the capital they needed to take their business to the next level.
Post-Shark Tank Growth
After the episode aired, Cubicall experienced an immediate surge in sales and inquiries. The company's website traffic increased significantly, and they received orders from all over the country.
With the investment from Kevin O'Leary, Cubicall was able to scale its production and expand its marketing efforts. They hired more staff, improved their manufacturing process, and developed new products to cater to different customer needs.
In the months following the show, Cubicall's revenue grew by over 500%. The company's success was not limited to the US market, as they started receiving orders from international clients as well.
Challenges and Lessons Learned
While appearing on Shark Tank was a turning point for Cubicall, it also presented some challenges. The sudden influx of orders put a strain on their production capacity, and the company had to work hard to maintain their quality standards.
In an interview, Jeremy, the co-founder, mentioned that they learned the importance of being prepared for sudden growth. He emphasized the need for businesses to have a solid infrastructure in place to handle increased demand.
Where is Cubicall Today?
Today, Cubicall is a leading provider of modern phone booths and acoustic solutions. The company has expanded its product line to include various customization options, making their booths suitable for different work environments.
Cubicall has been featured in several prominent publications, including Forbes, Entrepreneur, and Bloomberg. Their booths have been installed in many Fortune 500 companies, and they continue to innovate and push the boundaries of acoustic design.
In conclusion, Cubicall's appearance on Shark Tank was a pivotal moment in their journey to success. With the investment from Kevin O'Leary and their own hard work, the company has grown exponentially and become a leader in their industry. Their story serves as an inspiration to entrepreneurs and small business owners, demonstrating the importance of innovation, perseverance, and preparation.