Qubits
A company from Bend, OR, that makes a unique children's construction toy.
Much like a Lego, Qubits snap together but they also involve connectors that are bendable. As one would expect, Qubits are, of course, patented.
Qubits is relatively unique in Shark Tank history in that it's one of a very few companies offering a majority equity position right out of the gate rather than having the sharks ask for one.[1] But it is doing this in order to build up a board of directors specifically with a shark as a member.
Qubits has been on the market for two years and, in that time, has managed to sell $8,000 worth of product. But part of this is because the entrepreneur behind the business is an architect who has never pitched a large toy company.
Still, all of this is interesting enough to Daymond that he goes in for exactly what the entrepreneur offered, contingent on the idea that either the entrepreneur or he can land a deal with one of the big four toy manufacturers.
Notes
- ↑ In fact, in all of Shark Tank, up until Season Eleven, only five companies have ever offered a controlling share: My Cold Snap in Season Four that was essentially looking for a buyout (but left without a deal), Boogie Box Fitness from this season that offered 70%, then Qubits and Litter, both for 51% from this season and Season Three.