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Matt Reed pitched Bee Thinking, a beehives and beekeeping supplies manufacturing company, on Shark Tank and expects a honey deal from the Sharks.
Bee Thinking was started by Reed and his wife, Jill, as an online resource for beekeepers. They started selling “foundationless” beehives shortly after that. Bee Thinking may be able to snag a honeycomb deal, but will the Sharks sting the deal?
What Is Bee Thinking?
Bee Thinking is an urban beekeeper supplier deeply rooted in the environment-consciousness of the urban beekeeping movement. Bee Thinking offers a wide variety of products aimed at various demographics.
Bee Thinking covers you if you’re looking for honey or honey products. You can purchase honey, candles, and such items. Bee Thinking is among the few Top Bar Hive and Warre Hive manufacturers worldwide.
Beehives are designed to be simple to use, and to collect honey does not require expensive equipment or dangerous chemicals.
The firm also sells bees, hives, and beekeeping gear, such as beekeeping suits, for people interested in becoming beekeepers. The hives are made from Western Red Cedar, making them incredibly durable.
Bee Thinking uses only the highest-grade Western Red Cedar kiln, which is dried to less than 18% moisture and produces durable lumber that will not warp or split. The ultimate result is a stunning hive that will last the test of time and not require painting or sealing, as pine-framed hives do.
| Company Name | Bee Thinking |
| Entrepreneur | Matt Reed |
| Product | Supplies For Beekeeping And Beehives |
| Investment Asking For | $400,000 For 10% equity in Bee Thinking |
| Final Deal | No Deal |
| Shark | No Shark |
| Episode | Season 6, Episode 24 |
| Business Status | Acquired, In Business |
| Website | Bee Thinking Website |
Who Is The Founder Of Bee Thinking?
Matt Reed and Jill Reed are the founders of Bee Thinking. Before launching Bee Thinking, both Reeds had achieved professional success. Matt worked in information technology, while Jill specialized in the wine industry.
Bee Thinking was acquired by Bee Built in September 2017, but little is known about the Reeds’ current endeavors. Matt Reed created bee Thinking after performing an act of kindness. A hungry bee visited his window, and he fed it honey.
In the following days, more bees appeared. Beekeeping was an opportunity for him to learn more about the trade. Matt resigned from his job and committed himself exclusively to beekeeping.
Being a newbie bee enthusiast, keeping bees was a mutually beneficial relationship. As a beekeeper, he protected ecological balance by building a business through his enthusiasm.
Matt’s enthusiasm for beekeeping was well-received, as individuals from around the country requested his beehives. The demand for beehives from other countries soon increased as Bee Thinking received orders. This acquisition by Bee Built proves the brand’s value even more.
Matt Reed was born and raised in Portland, Oregon. The couple lives there with their daughter, Jill, and has developed a honey business together. Matt explains that honeybees are vital to humans since they pollinate a third of Earth’s food supply.
He asserts that without bees, most food humans consume would not exist. Matt cites Albert Einstein, who predicted that if bees disappeared from the Earth, men would have just four years to survive, which, sadly, is on the verge of happening.
Matt reports that 2006 honeybee populations declined significantly, and beekeepers are uncertain of the reason. They believe that it is caused by the combination of pesticides, habitat loss, stress, and other factors collectively referred to as Colony Collapse Disorder.
Matt continues by stating that he desired to do his part in assisting and saving the bees, which resulted in the birth of his business.
He claims that he worked in the technological industry and that it was impossible to manage both, so he left that job and began focusing on beekeeping. The couple is now expecting their first child, barely making ends meet.
Matt asserts that this is their destiny, and with the Sharks’ assistance, they can transform this enterprise into something that will alter the world.
How Was The Shark Tank Pitch Of Bee Thinking?
Matt begins with an “at home” section in which he discusses colony collapse disorder, a condition that is causing an alarming loss of honey bees.
He enters the Shark Tank for $400,000 in exchange for 10% of Bee Thinking. Matt discusses how he got started in the company and began constructing beehives. He launched a blog and received numerous requests to purchase his hives.
This year, the business has generated $500,000. He claims that people purchase his hives to aid the environment. Purchases the beehives for $150, then sells them for $300. Mr. Wonderful contemplates his grandmother’s apple orchard’s bees.
Matt discusses the many types of hives and how the bees use them. Mr. Wonderful claims he has set up his business, but he’s out since it doesn’t make $4 million.
Mark is impressed but believes an investor will add to his stress, so he exits. Lori is not a fan of honey and, hence, is not participating.
Robert admires Matt’s tale and commitment but believes $400K will not assist and thus withdraws.
Daymond believes it will take an excessive amount of time to recover his money. He states that he will be a customer, yet he is not present.
Final Deal: No deal between Bee Thinking and Sharks.
What Happened To Bee Thinking After Shark Tank?
Matt and his wife were having financial difficulties thanks to Matt’s business and also to Matt’s quitting his regular job. The Sharks have financed Bee Thinking with a substantial amount of personal investment.
He makes the most money from his top-selling product called the Top Bar Hive. Although he had many admirers, Shark Tank never mentions Matt’s products as the best or worst.
Bee Thinking is too small for the Sharks either because they have no interest in bees and honey or no interest in Bee Thinking. Matt and his company have continued to design more beehives and other items, which you can view and purchase on the Bee Thinking website, located at http://www.beethinking.com/.
Many of the reviews on the website are five stars. Customers can submit their feedback online. All of the products are widely liked by buyers, and many of them appreciate the free shipping.
It’s simple to see that Matt has a high rate of return customers, which helps him earn a profit. There is no evidence that Bee Thinking has failed since they have been selling beehives for years and seem to be popular.
They may be experiencing financial difficulties, but they can overcome them over time by increasing production. His goods are extremely popular, particularly with environmentalists and those who simply want to aid the bees.
Bee Thinking sells three distinct beehive designs and a variety of honey and gifts. There are three distinct hive designs: the Top Bar Hive, Langstroth Hive, and Warre Hive.
The prices of these three designs range from $180 to $599. You can also get honey and other honey-related gifts from friends and family members.
Bee Thinking Shark Tank Update
Matt has been busy for a few months since he left the Tank without a deal. He received numerous sales and inquiries from outside parties due to the popularity of his beehives.
Daymond also developed an interest in beekeeping and became a regular customer. Bee Thinking is discussed in Beyond the Tank season 2, episode 01.
Matt closed the business in 2017 because he couldn’t meet customer demands. He relaunched the business a year later under the name Bee Built. Bee Thinking is still in business, generating $5 million annually.
The valuation of Bee Thinking, aka Bee Built, was $4 million when it appeared on the Shark Tank. The current net worth of Bee Thinking, aka Bee Built, is estimated to be $5 million.
