Bambooee, a bamboo paper towel substitute, would like to close a deal during Shark Tank episode 517 on February 28. The duo is Irene and Noam Krasniansky.
Bambooee is a rayon-based fabric manufactured from bamboo plants. Bamboo is a fast-growing plant on the planet, and it is harvested annually, so it is more sustainable than logging trees.
Bambooee towels are reusable, and each roll contains twenty towels; simply use them as you would paper towels and then wash them.
It’s possible to machine wash each towel up to 100 times, which is equivalent to more than a dozen rolls of paper towels!
The Krasnianskys founded the firm in 2011 when Irene expressed a desire to discontinue using paper towels.
Noam was determined to create an alternative to typical paper towels that would be more sustainable and eco-friendly. Hence, Bambooee was created.
It has gained praise from leading eco-activists worldwide and is displayed at cooking exhibits.
Bambooee also sells sweeper pads in the Swiffer shape, in addition to the paper towel substitutes.”
Bambooee also plants a tree with every roll of paper sold; they’ve planted over 50,000 trees so far!
Bambooee is currently generating significant revenue, but they are likely seeking assistance from the Sharks in expanding distribution.
What Is Bambooee?
Bambooee is the world’s first 100% washable and reusable paper towel. It is possible to reuse a single paper towel up to 100 times.
They are equally as absorbent as paper towels, but they can be rinsed in the sink, wrung out, and reused.
They do not rip, shred, drip, or tear even when wet, meaning that even the most difficult messes are easy to clean.
Additionally, bambooee are machine washable. You can reuse your Bambooee the next day by washing it the night before. You can reuse each one up to 100 times.
With Bambooees, you can replace up to 286 rolls of paper towels for up to 5 1/2 years with a single roll!
The use of bambooee is not limited to just the kitchen. They are gentle enough to apply on your face and will leave no scuff marks on your car. They can be used anyplace.
This towel is truly amazing because it isn’t made from paper. They are made out of bamboo fibers and are more like cloth than paper. This makes them exceptionally robust while allowing them to be repaired at an affordable cost when required.
Bambooee concerns more than just creating a great paper towel substitute; it also concerns the environment.
Every Bambooee is handcrafted from bamboo that is sustainably sourced and naturally grown.
Additionally, the firm plants a tree for every roll sold.
|Entrepreneur||Noam Krasniansky And Irene Krasniansky|
|Product||Sustainable Bamboo Paper Towel|
|Investment Asking For||$200,000 for 10% equity in Bambooee|
|Final Deal||$200,000 for 10% equity in Bambooee|
|Episode||Season 5 Episode 18|
|Business Status||In Business|
Who Is The Founder Of Bambooee?
The founder of Bambooee is Noam and Irene Krasniansky.
The couple stopped using paper towels in their kitchen after learning that only 7% of the Brazilian rainforest was intact.
However, they required an alternative. The Krasnianskys took two years to develop Bambooee, a rayon made from organic bamboo.
Bamboo regrows every year after being harvested. Once harvested, trees do not regenerate.
Bambooee Before Shark Tank
Noam and Irene Krasniansky invented Bambooee together as a husband and wife team.
Bambooee is an alternative to paper towels made from bamboo. Irene came up with the idea when she decided to discontinue using paper towels.
Noam and Irene decided to look for an environmentally friendly alternative to paper towels after they realized how many trees were harvested every year for paper towel production.
Paper towels made from normal trees cannot compare with bamboo towels’ quality since they are the fastest-growing planet and can be harvested year after year.
The reusable nature of this product makes it unique. Bambooee rolls come with twenty bamboo towels.
You can wash it after normal use, and one towel can be washed more than 100 times. A favorite of eco-conscious shoppers, bambooee made an instant impact.
Their invention won numerous awards at home and kitchen exhibitions, shown by the husband and wife team.
The Bambooee company plants a tree for every roll sold as well. There have been over 50,000 trees planted in this project, another environmental aspect that appeals to the environmentally conscious.
Bambooee was a hit with many customers, but Noam and Irene decided to enter the shark tank to gain business knowledge and additional funding.
Noam and Irene also hoped the sharks would accommodate Bambooee’s goals of entering the retail industry.
What would sharks make of this more eco-friendly product? Will they join forces with these eco-conscious businesspeople to strike a deal?
How Was The Shark Tank Pitch Of Bambooee?
Irene and Noam reached Shark Tank seeking an investment of $200,000 for 10% of Bambooee.
The pair claims bambooee can replace as many as 256 rolls of paper towels.
Noam’s enthusiastic presentation makes the Sharks chuckle, but the numbers make them shiver.
They sold $122,000 in the first year. Sales increased to $300,000 in their second year.
Noam explains that their production process remains private and filed a patent application. Kevin O’Leary notes that bamboo cloth is not a novel concept.
The previous year’s total sales were $1.6 million, with a profit of $900,000.
Robert Herjavec points out that cloth towels are widely used in Europe instead of paper towels, so the Sharks believe the company is valued based on those figures.
Kevin O’Leary, however, is skeptical of the claims of a positive environmental impact from the reusable cleaning cloths.
There is also a pricing dispute. There is a price difference between paper towels and reusable Bambooee towels. It costs an average of $12.95 for a roll of Bambooee towels.
Kevin O’Leary is unconvinced that the product is “compelling” due to the education required to bring it to market.
Noam and Irene proposed a 10% offer, and he would be willing to make one too.
Upon receiving their 10% equity, he would give them a loan of $200,000 with an interest rate of 8%. He is dubbed a “loan Shark” by Barbara Corcoran.
Lori Greiner submits an offer of $200,000 for 10%, which is precisely what the couple requested.
Noam asks if any other Sharks might want to make an offer before Lori and the pair accept this one. They exit the Tank after securing a Shark agreement.
Final Deal: Lori Greiner agreed to invest $200,000 for 10% equity in Bambooee.
What Happened To Bambooee After Shark Tank?
The bambooee brand has succeeded since Irene and Noam showcased their products on Shark Tank and closed a deal with QVC Queen Lori.
Irene and Noam are, however, working incredibly hard to take their business from scratch to the success they know it can be.
Bambooee has continued to expand its retail footprint with Lori’s assistance.
Bambooee is available in a variety of retail locations and online through websites such as Amazon.
The partnership between Lori and Irene, and Noam has generated more than $3 million in sales.
Lori is undoubtedly thriving in the shark tank once again. We wish them the best of luck in the future!
Bambooee Shark Tank Update
Noam and Irene continue to work incredibly hard to advance Bambooee, traveling up to 15 hours a day to sell Bambooee and reach out to new merchants globally while raising two children.
Lori uses her vast network of contacts to help spread the word about their product as they expand into new retail spaces.
They have been rewarded for their perseverance. The duo has successfully generated sales of $3 million since appearing on Shark Tank. Lori has made an excellent investment in Bambooee.
This episode 208 provides an in-depth analysis of the Tank episode and the business and its issues. Following that upgrade, the business introduced three varieties of charcoal-filled cushions.
Bambooee remains in business as of February 2022, generating $5 million in revenue.
Is Bambooee Still In Business?
Yes, Bambooee is still in business as of 2022, with annual revenue of $5 million.
There are twenty sheets on each Bambooee roll. You can machine wash each sheet 100 times.
The Bambooee rolls can also be used with normal paper towel dispensers since they are perforated.
The two rolls of Bambooee are available for $20.99 per roll with free shipping on the company’s website.
Lori Greiner accepted Krasnianskys’ offer on Shark Tank. Bambooee is currently available for purchase on Amazon and Staples.