There are over 1 billion cars in the world today on the roads and 98% of those cars have seatbelt warning devices in the front seat. But 87% of cars don’t have them in the back seat. There are so many child deaths daily in car accidents because of this.
This is where Buckle Me Up comes in handy.
What is ‘buckle me up’?
Buckle Me Up is a first-ever wireless retrofit seatbelt alarm and safety system.
Buckle Me Up can be paired up with your smartphone via a free app. It will alert the driver of the car if the person in the back seat is unbuckled (not wearing the seat belt).
This application is useful in public transport as well. For an instance, this could be very useful in school busses.
Who Is Andrew Leary?
53 years old Andrew Leary is the founder and owner of the seatbelt safety application company Buckle Me Up. This company is invented by a group of firemen as Andrew explains to the Sharks.
He sold his house and invested 2M dollars to start this project. Buckle Me Up safety system is owned by Andrew’s company called Lockliv.
What happened to Buckle Me Up in Shark Tank?
At Shark tank, Andrew Leary, the CEO of Buckle Me Up requested $390,000 in exchange for a 10% stake. The firm was valued at $3.9 million as a result of this.
At first, the project idea seemed very sensible to the investors as shark Andrew shared his personal experience on this matter. He explained how he was going to lose his kid.
‘I turn a corner and suddenly the back door of my car opens and my son, who is five years of age, has taken his seat belt off because his hat has fallen on the floor,’
Anyway, there was a problem with the business structure of the company as the intellectual property was not owned by Buckle Me Up. Buckle Me Up only has the option to buy intellectual property for a fee for each unit.
This point led most of the investors to step back from investing in Andrew’s business because there is no real ownership of the product for investors. They nearly slammed at Andrew because he was not fully open to the board.
But at some point, Steve Baxter asked if Andrew wanted to sell the whole company for 1.5M dollars.
Andrew was hesitating and asked for any counteroffers. But the problem pointed above stayed the same.
Then Andrew made a 2M dollars offer that Steve rejected.
‘Steve what I would accept would be a 2M dollars 100% take share. If anyone can take this business it’s Steve. I really believe that and you might even give me a job,’ Andrew said.
All the investors avoided investing in Andrew’s interesting project because he held the rights to the intellectual property patent in a parent company.
you might also be interested in Mobilyser Shark Tank Update.
Buckle Me Up Shark tank update
What happens after the shark tank?
Andrew said ‘we’ve got an order from a large bus company and have ordered 200 buses to be fitted out so how much is that done 1.9 million dollars.’ at Sharks’.
So the Buckle Me UP was already a successful business when it was presented at Shark Tank.
As the company is still running, their website www.bucklemeup.com is up online and they have a very active social media presence.
So we can assume the Andrews car safety app project is still successful and banking hard.
You can read their website to know how the application works. It seems like they are targeting public transport like buses mainly.
Buckle Me Up app is suitable for various bus types like bus fleets, school buses, mini-shuttle, disabled persons commuter buses, passenger coaches, and mining buses that range from 8-60 seats.
How much is bucklemeup net worth in 2022
After Shark Tank, Buckle Me Up Value went to a whopping valuation of 15 million USD. So we can assume that the company could be worth around 20 million USD.
Buckle Me Up FAQ
Immediately after Shark Tank, Buckle Me Up Value went to a whopping valuation of 15 million USD. By 2021 this company could be worth around 20 million USD.
Their website www.bucklemeup.com is up online and they have a very active social media presence.
So Buckle Me UP is still running and banking hard. Mainly they are targeting public transport like buses.