Yubo Shark Tank Update

Yubo Shark Tank Pitch

Paul Pedrazzi and Cyndi Pedrazzi found lunch boxes ugly, hard to clean, and encouraged plastic bag waste. They looked everywhere for a solution but decided they had to create it and made Yubo, an easy-to-clean, function-focused lunchbox with interchangeable themes.

Yubo lunchboxes retail for $21 to $40, depending on the model. Yubo is in 100 U.S. retailers and has an international distributor. Yubo has been on the market for four years and is on track to do $200k to $250k in revenue this year. Paul and Cyndi hope to work out a deal with Disney to allow kids to have pictures with their favorite characters on their lunchbox.

Paul and Cyndi have invested $350k into Yubo. To pay for the design process, they paid the industrial designer 20% equity and 1-5% perpetual royalty based on the number of units sold. At $750k sales it drops to 1%.

Mark doesn't want to be involved with a royalty deal. Barbara thinks the lunchboxes are too big. Kevin, Robert, and Lori each make competing offers. Paul and Cyndi request that the sharks go in together and when Robert and Kevin go in together, Paul and Cyndi happily accept.

Yubo After Shark Tank

Paul Pedrazzi went on The Work Life Balance

After drawing up some sketches, Paul and Cyndi worked out a deal with design firm, Whipsaw

Paul worked for Oracle at the time and helped out when he could, but Cyndi ran Yubo full-time. The deal with Robert and Kevin went through. Paul even said their kids received a small payment from Shark Tank because they were classified as actors for being on the show, but it was locked until they were 18.

Yubo's Instagram, @getyubo

According to Paul Pedrazzi's LinkedIn