in , , ,

KaZam Net Worth 2023 Update (Before & After Shark Tank)

KaZam-Shark-Tank-US-Net-worth-Update

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
InvestorBarbara Corcoran and Mark Cuban
FounderMary Beth Lugo
Employees10 – 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 nameKaZam
ProductTwo-wheeled balanced bicycle for kids
EpisodeSeason 04 Episode 24
FounderMary Beth Lugo
Asked for$300,000 for 20% Equity
Final deal$300,000 for 32% Equity
SharksBarbara Corcoran and Mark Cuban
LocationFairfield, 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:

YearAccomplishment
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.

What do you think?

Written by GAG Team

Ryans-Barkery-Shark-Tank-US-Net-worth-Update

Ryan’s Barkery Net Worth 2023 Update (Before & After Shark Tank)

Babys-Badass-Burgers-Shark-Tank-US-Net-worth-Update

Baby’s Badass Burgers Net Worth 2023 Update (Before & After Shark Tank)