InchBug Shark Tank Update – Shark Tank Season 7
InchBug showed the Sharks how personalized labels and smart kids’ products could build a lasting brand. It appeared on Shark Tank Season 7 seeking investment but walked away without a deal.
Brenda Lee Feldman pitched the Sharks on her 12-year-old business, InchBug, which had a new product coming to market in Shark Tank Season 7 Episode 25.
Check more updates on Shark Tank Season 7 Episodes.
About InchBug
| Category | Details |
|---|---|
| Business Name | InchBug |
| Founder | Brenda Lee Feldman |
| Industry | Baby/Children’s Products |
| Product | Juice box holder |
| Deal Status | No Deal |
| Investment Asked | $400,000 for 10% Equity |
| Valuation | $4 million (At the time of the Shark Tank pitch) |
Feldman started the business in 2004 with her InchBug Orbit Labels, a simple, stretch-and-release band that fit snugly around a variety of containers and could be easily personalized with a child’s name.
She created the labels to send with her then 18-month-old daughter to daycare. Most daycare providers wanted drinks and snacks labeled, and this was an easy way to do it.
She later expanded to adhesive stickers that could be used on clothing, belongings, or food as an allergy alert. The stickers could be personalized with a child’s name, too.
Feldman came to the Tank with her newest invention: the My Drinky juice box holder. When a juice box was inserted into a My Drinky, it couldn’t be squeezed or spilt.
The labels ran anywhere from $8–$13, and any product could be personalized with a child’s name in the buyer’s choice of font and colors.
The My Drinky had yet to come to market, but InchBug also sold training pants, bibs, utensils, swim goggles, and more. Feldman likely needed a Shark to help her ramp up production on My Drinky.
Would a Shark inch up close and invest?
InchBug Shark Tank Recap
Brenda entered seeking $400,000 for 10% of her business. She handed out samples of the My Drinkys and Orbit Labels, emphasizing that she wasn’t a one-product company.
As she explained, Mr. Wonderful asked why she had a $4 million valuation. When she told the Sharks she had sold only $50,000 worth of My Drinky, they were less than impressed.
But when she told them the Orbit Labels had $15 million in lifetime sales, she had their attention again.
Did InchBug Get a Deal on Shark Tank?
2015 sales were $2 million. The Sharks were clearly interested in the labels, but Brenda kept circling back to MyDrinky. She wanted to get it into retail.
Robert and Mark didn’t like the retail idea and went out. Barbara didn’t like MyDrinky and went out. Lori was next, leaving Mr. Wonderful.
Surprisingly, he offered $400,000 for a $1 per unit royalty until he recouped $1.2 million. For that, he wanted 5% of the business.
Kevin said he’d promote the company on social media, but Brenda wanted to know about retail. Next, Kevin said his offer was conditional on not going into retail. Brenda didn’t like that and refused the deal.
What Made InchBug Unique?
The InchBug labels were full of convenience and utility. The one-size-fits-most approach, coupled with non-toxic silicone and dishwasher and microwave-safe characteristics, made them very handy for parents.
InchBug Shark Tank Update
Brenda did get into buybuyBaby and some other mom-and-pop shops. She is still in business and has a vibrant Amazon store.
In August 2021, Brenda launched Orbit Label 2.0, which featured contrasting personalization without the use of ink or paint. It was the first one on the market made of 100% kid-safe silicone.
She also launched new icons: Dinosaur, Smile, Cupcake, Heart, Trophy, Diamond, Rocket, and Unicorn. The net worth of InchBug is estimated to be somewhere between $5–7 million.
Posts About InchBug on Shark Tank Blog
Learn more about My Drinky by Inch Bug, as seen on Shark Tank season 7.
Where Can You Buy It?
InchBug products are available for purchase directly on their website or from their Amazon store. Other than that, you can find them on the shelves of several major retail chain companies. They are also quite active on Instagram and Facebook.
Quick Summary
- Brenda Feldman pitched InchBug’s personalized labels and her new spill-proof juice box holder, My Drinky, to the Sharks.
- The company had $15 million in lifetime sales for the labels but only $50,000 in sales for My Drinky.
- She turned down Kevin O’Leary’s royalty deal and kept the business growing by herself.
InchBug did not need a Shark to sail through. Check out business updates of other products from the same episode.
- DripDrop Shark Tank Update
- Jarrett and Raja Productions Shark Tank Update
- KidRunner Shark Tank Update
