Cubical After Shark Tank Update: What Happened Next?
The Pitch
Cubical, a modular phone case company, took the Shark Tank stage by storm in 2020. The founders, Josh and Mike, pitched their innovative product to the Sharks, seeking an investment of $500,000 in exchange for 10% equity.
The Deal
After a tense negotiation, Josh and Mike managed to secure a deal with Kevin O'Leary (Mr. Wonderful) and Lori Greiner, each investing $250,000 for 5% equity.
Post-Shark Tank Update
So, what happened to Cubical after the Shark Tank deal? Did the company experience a surge in sales and growth, or did it struggle to keep up with the demands of the market?
Growth and Expansion
After the Shark Tank episode aired, Cubical experienced a significant increase in sales and website traffic. The company's revenue grew by over 500% in the first quarter following the show. The founders credited the Shark Tank exposure for the dramatic increase in brand awareness and customer interest.
To cater to the growing demand, Cubical expanded its product line to include new phone case designs and accessories. The company also invested in scaling its production and shipping processes to ensure timely delivery of orders.
Partnerships and Collaborations
Cubical partnered with major phone case retailers, such as Best Buy and Walmart, to stock its products on their shelves. The company also collaborated with popular social media influencers and content creators to showcase its products to a wider audience.
Challenges and Lessons Learned
Despite the initial success, Josh and Mike faced challenges in managing the rapid growth of their company. They had to navigate issues with supply chain logistics, inventory management, and customer service. However, they learned valuable lessons from these experiences and made adjustments to their business strategy accordingly.
Current Status
Today, Cubical continues to innovate and expand its product line. The company has become a leading brand in the phone case industry, known for its high-quality, customizable cases. Josh and Mike's appearance on Shark Tank proved to be a turning point for their business, and they continue to reap the benefits of their TV debut.
In Conclusion
Cubical's success story serves as a testament to the power of Shark Tank exposure. With the right product, marketing, and business strategy, entrepreneurs can leverage the show's platform to take their companies to new heights. Josh and Mike's journey is an inspiration to aspiring entrepreneurs, demonstrating that with hard work and determination, even the most ambitious goals can be achieved.