Kevin O’Leary made a $270,000 investment in Blueland in exchange for a 3% ownership stake. Additionally, as part of the agreement, Kevin will receive a $0.50 royalty for each unit sold until he recoups his initial investment.
According to the most recent information from Shark Tank, Blueland’s current net worth stands at $9 million.
Blueland Net Worth 2024
- Net Worth: $9 Million
- Annual Revenue: $2.7 Million
- Profits: $1 Million
- Lifetime Sales: $10.2 Million
- Employees: 5
- Investor: Kevin O’Leary
Blueland Sales Update
When Blueland appeared on Shark Tank, the company had been in business for just one month at the time of filming with sales of $220,000. They are 100% direct-to-consumer, selling online, but are about to launch with a national retailer.
Following their appearance on Shark Tank, Blueland has experienced consistent annual revenue growth of 50%.
As of the current date, Kevin O’Leary has not only recovered his initial $275,000 investment through the royalty arrangement but has also realized $310,000 in profits from his involvement with the company, marking it as an immensely successful investment for him.
About Blueland
Sarah and Syed presented Blueland in the first episode of Season 11 of Shark Tank. Sarah, who became a new mother in 2019, established the company after realizing the extensive presence of microplastics in our food and water supply.
She aimed to address plastic waste concerns not only for the sake of her child but also for the environment. This motivation led her to collaborate with chemist Syed Naqvi, resulting in the invention of Blueland’s enduring Forever Bottles, complemented by dissolvable cleaning and soap tablets designed to be placed inside these bottles.
Their introductory Starter Set, comprising a single glass bottle and one tablet, is available for purchase at $12. Additionally, the Essentials Kit, featuring one hand soap and three cleaning sprays, can be acquired for $39.
When it comes to refills, a single tablet is priced at a mere $2, which is more cost-effective compared to purchasing a new bottle of cleaning spray. Furthermore, Blueland has provided evidence of the effectiveness of their products.
Shark Tank Recap
Daniel Lubetzky, the first interested shark, proposes $1 million for a 25% stake and invites Lori to join, offering a solo deal as well. Lori expresses interest, but Kevin intervenes, offering $270,000 for 5% equity plus 1% in advisory shares.
Robert Herjavec comments on the challenge of changing consumer behavior and opts out. Lori and Daniel revise their offer to $270,000 for 8% equity. Mark Cuban believes Blueland’s intention was primarily publicity and opts out of the deal.
Following additional discussions, Sarah and Syed reached an agreement with Kevin, securing $270,000 in exchange for a 3% ownership stake, along with a $0.50 royalty for every kit sold until he recoups his investment. With this deal sealed, we have an exceptionally encouraging Blueland update to share!