Shark Tank: Blueland Accepts $270,000 From Kevin O’Leary
Jennifer Weyant — October 4, 2019 
congerdesign / Pixabay
Blueland is on a mission to reduce plastic wastes. By utilizing the Blueland cleaning system, consumers are able to reuse their plastic cleaning solution bottles which could lead to an estimated reduction of 5 billion plastic bottles per year. Consumers simply purchase a tablet that can be combined with water in Blueland’s reusable cleaning bottle to make a safe and effective cleaner for a variety of surfaces. There are currently four types of cleaning tablets available: hand soap and multi-surface, bathroom and glass and mirror.
Is Blue Land the solution for kitchen cleaning AND saving the ? #SharkTank #LiveBlueLand
— Shark Tank (@ABCSharkTank) September 30, 2019
Because most commercially available cleaning solutions are made of up to 90% water, Blueland decided to help consumers stop paying for plastic bottles full of mostly water. After purchasing their starter pack, which includes a bottle and essentials to get started, consumers will never need to buy another bottle of cleaning solution. This saves storage space and decreases plastic waste, making this very appealing to customers. The Blueland line of products are innovatative and more sustainable than traditional cleaners, and they are effective too! EPA third-party studies showing their product is more effective than other brands.
Co-founders of Blueland, Syed Naqvi and Sarah Paiji Yoo, came to the Shark Tank in hopes of finding a Shark willing to invest $ 270,000 in exchange for 2% of their company. They are currently selling their product 100% direct to consumer but will be launching in a big box store at the beginning of next year. Their key value proposition is that they have an effective cleaning system that reduces waste over traditional cleaning brands.
Although some of the Sharks worried about having to change market behavior to implement this product and they felt that the packaging and put-ups of the product should be modified, Sharks Lori Griener and guest Shark, Daniel Lubetzky, still decided to make an offer of $ 270,000 in exchange for an 8% equity share that could be split equally between them. Kevin O’Leary felt that they could get a better deal and offered them $ 270,000 for 5% equity in the company as well as 1 % in advisory shares. After countering back and forth with Kevin, they agreed to a $ 270,000 investment for a 3% share of the company and a royalty of $ 0.50 cents per kit until he makes his money back.
I know a hustler when I see one. Right off the bat, you can tell this pair walked in with a mission! #SharkTank
— Barbara Corcoran (@BarbaraCorcoran) September 30, 2019
Hey @kevinolearytv when do you ever turn down a royalty deal? Nicely played #Blueland. #SharkTank
— Daymond John (@TheSharkDaymond) September 30, 2019
A cleaner planet starts at home. Cut plastics out of your cleaning cabinet! @liveblueland https://t.co/l3Xvkp49D2 #SharkTank
— Kevin O’Leary (@kevinolearytv) September 30, 2019
Yikes! Usually that kind of counter would have any shark jump like a fish out of water. But @liveblueland managed to reel @kevinolearytv back in with a solid royalty deal. And we all know he can’t resist taking a bite out of those…
— Barbara Corcoran (@BarbaraCorcoran) September 30, 2019
I gotta say, that little tablet just might get me up and moving to clean my own kitchen more efficiently. @liveblueland
— Barbara Corcoran (@BarbaraCorcoran) September 30, 2019
Would you use this product and replace traditional cleaners? Do you think that Sarah and Syed made a good choice by partnering with Mr. Wonderful, Kevin O’Leary. Sound off in the comments below!
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