Veba Baby, the innovative smart baby bottle monitor, made a bold entrance on Season 15 of Shark Tank. Designed to give parents peace of mind, this smart device tracks the freshness and temperature of milk in real time.
Founders Sean and his wife entered the tank with high hopes of securing a $150,000 investment for 15% of their company. The couple believed their product could revolutionize baby care, but would the Sharks see the same potential? Let’s dive into their journey.
Starting as a Solution
Sean and his wife noticed that it is hard to keep their baby’s milk fresh and at the right temperature. From this need, they created Veba Baby, a smart band that wraps around baby bottles to track temperature, freshness, and feeding times.
The device connects to a smartphone app, giving parents real-time information and peace of mind about their baby’s nutrition. However, while Veba Baby was innovative, it was also expensive.
Each band cost $45 to make and sold for $89. Sean and his wife needed an investment to reduce production costs and make their product more affordable for parents. For that, they decided to pitch on the shark tank.
But the real challenge was to prove to the Sharks that Veba Baby could become an essential product in every parent’s home. Sean and his wife hoped to get $150,000 from the Sharks in exchange for 15% of their company.
They believed that with the Sharks’ money and guidance, they could lower production costs, reach more customers, and make Veba Baby a go-to product for parents everywhere. With determination and excitement, they prepared to present their vision in the Shark Tank.
It was not an Easy
Standing before the Sharks, Sean and his wife felt a mix of excitement and nerves. They explained how Veba Baby works and why it’s useful for parents. “We just launched the product five weeks ago,” Sean told the Sharks, noting they had $3,000 in sales and 70 users on their app already.
The Sharks listened closely, but their expressions soon changed to doubt. Emma, a guest Shark and a mother of four, was the first to voice concerns. “As a mom of four kids, I’ve never ever had an issue around this,” she said.
She questioned whether the product solved a real problem for most parents, adding, “You’re not even really solving the problem necessarily by making something that can keep it from going bad; you just made an alarm for it.” Her point was clear, the product might not be as essential as the founders believed.
Lori Greiner, a Shark with a deep understanding of consumer products, expressed her concerns about the high price. “With each of the bands being $89, I just think this is an excessive, unnecessary spend for new moms,” she said. Lori felt that most parents wouldn’t see Veba Baby as a must-have item, especially at that price.
Robert Herjavec, a father himself, added his thoughts. “I have two 5-year-old twins, and I don’t remember this ever being a problem,” he shared. His comment suggested that the product might not be needed by many parents.
Mark Cuban offered some advice about their marketing approach. “You need to focus less on that strategy,” he said, suggesting that the way they were positioning Veba Baby might not attract a broad range of parents looking for affordable, practical solutions.
Kevin was the most direct. “I don’t see a market for this,” he stated flatly. “I wouldn’t invest in it.” His blunt feedback showed that he didn’t see a wide enough demand for Veba Baby to make it a successful investment.
It’s not all about the money
As the Sharks continued to share their doubts, Sean and his wife realized they were struggling to convince them. Despite their preparation and passion, the Sharks didn’t believe that Veba Baby was addressing a big enough need.
The feedback was tough, but it was also important. They started to see that their product might be more of a special gift for new parents rather than an everyday necessity.
“It was a welcome challenge, a push in the right direction, and of course a dream come true”
Sean’s wife looked at him, and they both understood they needed to rethink their strategy. They needed to learn more about their market and consider changes to their pricing to better match what customers wanted.
No Deal, But New Insights
In the end, Sean and his wife left the tank without a deal. The Sharks had made their decision, and while it was hard to hear, the feedback was honest.
“We saw the Sharks going out one by one,” Sean’s wife later said. “It was tough to see, but we knew we had to keep pushing forward.”
Even though they didn’t get the investment, the experience was valuable. Sean and his wife realized they needed to adjust their approach, understand their customers better, and think about how to make their product more appealing and affordable.
The Future of Veba Baby
Leaving Shark Tank without a deal was not the end for Veba Baby. Instead, it marked a new beginning. As of 2024, The Veba Baby has a net worth of $1 million.
“Veba’s appearance on Shark Tank season 15 is just the beginning of our journey. We are thrilled for the honor of being featured on the show as well as the opportunity to spread awareness about our work to help parents offer their babies the best nutrition possible and give them peace of mind too.”
The feedback from the Sharks gave Sean and his wife a clearer idea of what they needed to change. They left with renewed energy and focus, ready to take their product and business to the next level.
Featured image credit @ Veba Baby