KaZam Net Worth 2023 Update (Before & After Shark Tank)
KaZam is a two-wheeled balanced bicycle for kids. This business was started by Mary Beth Lugo. As of October 2023, KaZam’s net worth is $5 million. They’re pulling in a whopping $5 million in annual revenue.
In 2013 they appeared on Season 4 of Shark Tank USA and made a deal with Barbara Corcoran and Mark Cuban for $300,000 for 32% of equity. The final valuation was $937,000, down from the founder’s initial estimate of $1.5 million.
As of October 2023, KaZam is actively running its operations. Visit their website to learn more about KaZam bicycles. You can purchase KaZam bicycles through the website, and selected bicycle centers.
KaZam Net Worth
| Net worth | $5 million (2023) |
| Annual Sales Revenue | $5 million (2023) |
| Profits | – |
| Lifetime sales | – |
| Investor | Barbara Corcoran and Mark Cuban |
| Founder | Mary Beth Lugo |
| Employees | 10 – 25 |
KaZam Net Worth Timeline
| Net Worth 2023 | $5 million |
| Net Worth 2022 | $5 million |
| Net Worth 2021 | – |
| Net Worth 2020 | – |
| Net worth valuation in 2015 after appearing on Shark Tank | $937,000 |
| Net worth valuation in 2015 before appearing on Shark Tank | $1.5 million |
KaZam Pitch on Shark Tank
| Company name | KaZam |
| Product | Two-wheeled balanced bicycle for kids |
| Episode | Season 04 Episode 24 |
| Founder | Mary Beth Lugo |
| Asked for | $300,000 for 20% Equity |
| Final deal | $300,000 for 32% Equity |
| Sharks | Barbara Corcoran and Mark Cuban |
| Location | Fairfield, New Jersey |
Don’t miss these products from Season 4
KaZam Founder
Mary Beth Lugo founded KaZam. Mary is an entrepreneur with a background in Sales. She is a mother, and she got the inspiration for KaZam through his three-year-old son who could ride two-wheeled bicycles with good balance. KaZam’s founder Mary Beth Lugo has a net worth of 3.2 Million USD as of 2023.
Key accomplishments:
| Year | Accomplishment |
| 2015 | Shark Tank pitch and getting a deal |
| 2015 – 2023 | Distributing the product to over 20 countries |
Conclusion
From their beginnings on Shark Tank to their current status as a thriving business, they have proven that with the right idea and execution, anything is possible. We can’t wait to see the future for KaZam and its continued success.
