KudoBanz, the sticker chart with positive reinforcements, appeared on season 10 of Shark Tank. While the wristband product didn’t peak the investors’ interest, the business is still in full swing. Find out what happened during their Shark Tank appearance, and where the company is now with this update.
1) Couple Amanda and Hamza Naqvi presented on Shark Tank to the panel. But, their kids Mickey, Ayaan, and Sofia also made an appearance on the show with their parents. Amanda is the official founder of Kudo Banz.
2) The product came out of an idea Amanda had when her eldest kid, Mickey, wasn’t that adept at listening. Not wanting to yell at her son, Amanda turned to the sticker method. The problem was that she and her family were always on the go, so the sticker chart (on paper) would be forgotten. That’s when she created the wristband so her kids would always have it with them. She’s used it for her other two children as well.
3) The key to the effective product is positive reinforcement. Parents are able to use this method to continually help shape their kids’ confidence. Plus, it makes learning fun. Continual awareness keeps the product working because it’s right there on the child’s wrist. The instant recognition is most effective for kids’ behavior too. Parents have FitBits, now kids have KudoBanz.
4) On the show, Amanda & co. asked for $150,000 for 10%, according to Shark Tank Tales. This made the valuation $1.5 million. At the time, they were in negotiations with buy buy BABY, but that never went through post-show. Instead, they moved online to Amazon.
5) Even though they did not receive a deal on Shark Tank, their business is still going strong. The website is very active, with kits for purchase, as well as different accessories like safari animals. Shop the full collection here.
Shark Tank season 13 premieres on October 8 at 8 PM on ABC. Catch up on other episodes via Hulu or on demand.
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