Who doesn’t remember the thrill of tearing open a juice box, only to squeeze it too hard and have juice spill everywhere? That’s a challenge many parents and kids face daily. To tackle this sticky situation, Brenda Lee Feldman introduced a handy gadget known as *MyDrinky* during her appearance on the popular reality show, Shark Tank.
The MyDrinky Pitch and Deal at Shark Tank
Brenda Lee Feldman’s idea was simple yet innovative: a two-piece juice box holder designed to prevent unwanted spills. During Season 7, Episode 25 of Shark Tank, she pitched MyDrinky while seeking a significant investment—$400,000 in exchange for 10% equity. This amounted to a $4 million valuation.
However, despite the intrigue surrounding the product, most Sharks found themselves holding back. MyDrinky had accumulated around $50,000 in sales, starkly contrasted by Brenda’s previous venture, Orbit Labels, which boasted an impressive $15 million in lifetime sales. In the eyes of the Sharks, MyDrinky seemed a bit too generic and not a winning ticket compared to her earlier success.
Kevin O’Leary, known for his cheekiness and shrewd offers, presented an alternative: $400,000 as a royalty deal of $1 per unit until he recouped $1.2 million, coupled with a 5% equity offer. The catch? No retail expansion, which Brenda insisted was a key element of her plan. Sticking to her vision, Brenda walked away without sealing the deal.
Is MyDrinky Still in Business?
Once the sheen of the TV lights faded, what happened to MyDrinky? Initially, the product enjoyed a brief spike in popularity thanks to its Shark Tank exposure. With a surge in web traffic, InchBug, the parent company behind MyDrinky, ventured into the retail realm. Brenda scored a win by getting MyDrinky listed on platforms like Walmart and Amazon.
Yet, the excitement was short-lived. Today, neither Amazon nor Walmart lists MyDrinky as available, and the product seems to have disappeared from the official InchBug website. While it initially aimed to find a place in many homes, as of now, MyDrinky isn’t actively on the market under InchBug.
MyDrinky Net Worth
Pinning down MyDrinky’s current net worth can be tricky, given the twists and turns in its journey. At the time of the Shark Tank pitch, Brenda valued the entire InchBug brand, including MyDrinky and Orbit Labels, at $4 million. However, without significant traction in retail, the standalone valuation of MyDrinky has likely decreased since then.
Impact of Shark Tank on MyDrinky
Even without striking a deal with a Shark, MyDrinky still experienced a post-show bounce. The Shark Tank effect is well-documented: businesses enjoy a temporary spike in visibility and sales. For Brenda, the exposure meant a shot in the arm for her brand, leading to increased online sales immediately following the episode.
Despite this, the Sharks’ advice reflected a harsh business reality: branching into retail without the right support can be a rocky road. While Brenda was passionate about taking MyDrinky into more homes, the challenges of retail did not vanish with TV appearances.
Business Overview
InchBug, founded by Feldman, originally struck gold with Orbit Labels, a durable and innovative label for kids’ products. This product secured steady revenue and established InchBug as a recognizable name for many parents. With MyDrinky, the hope was to replicate similar success, but it never quite took off in the same way.
It seems the company has refocused its efforts on Orbit Labels, which remains a cornerstone of the business. The simplicity and utility of Orbit Labels have kept them in demand, and the company is thriving on its core strengths.
What’s Next for MyDrinky?
The future for MyDrinky might be in the shadows for now, especially as Brenda has moved on from InchBug. Selling her ownership to Casey Slusher marked a new chapter for both Brenda and InchBug. With Brenda now pursuing opportunities in real estate, MyDrinky’s direct path seems uncertain.
For those still keen on the concept of MyDrinky or its utility, it might resurface someday, but as of now, it’s not available in the retail space. InchBug, under new leadership, may choose to streamline its focus to nurture its star product, Orbit Labels.
Conclusion
So, where does this leave us with MyDrinky? It’s a classic Shark Tank story of dreams, exposure, and real-world challenges. Brenda Lee Feldman’s journey with MyDrinky highlights the importance of staying grounded in core strengths while exploring new adventures. Although MyDrinky didn’t conquer the retail world, it serves as a lesson in business resilience.
For now, InchBug continues to thrive through its tried-and-true Orbit Labels, a testament to Brenda’s original ingenuity and business acumen. The company remains in capable hands and might one day revisit the MyDrinky concept when the stars align. Who knows? Until then, you can explore more about entrepreneurship success stories here.
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