They say if you’re good enough, you’re old enough, and “Shark Tank” has been proof of that. There have been multiple teenagers coming on the show, pitching their ideas, and securing deals. But one particular youngster who impressed the sharks back in 2021 was Cassidy. What's amazing is that she was only 10 years old and she managed to get exactly the deal she had pitched for.
Cassidy came to the show with her mother and her product was called The Baby Toon. It is a baby spoon with a new and innovative design that does away with the potentially dangerous nature of traditional designs. After all, babies do need to be treated with a lot of care. It’s made of silicone and can be attached to the baby using a pacifier clip attached to the baby’s outfit.
"Partially why I'm just very thankful I'm here is I want to show other kids that they can be open to opportunities they have at school or at home to create and invent. I just really hope I inspire them. It's a dream come true," the young entrepreneur said.
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The mother-daughter duo asked for $50,000 for 50% of their company. This might sound a bit surprising but Cassidy clarified that she still needed to complete her education which is why she wanted an equal partner. They would also be able to guide her for many years. The problem was that not many sharks were willing to invest. Daniel Lubetzky, Mark Cuban, and Kevin O'Leary all refrained from offering a deal. Lubetzky and Cuban explained that they did not have enough experience in the baby products industry while O’Leary did not want her business to affect her education as per E-News. He did however let her sit in his chair afterwards.
Lori Greiner believed that Cassidy could balance out her priorities just fine. She offered the 10-year-old entrepreneur exactly what she asked for - $50,000 for 50% of the company - and Cassidy accepted. It made for a heartwarming moment on the show that has lived on in the minds of viewers.
It has been three years since that day, and the Baby Toon has grown exponentially. Back then, Cassidy had said that the company had made $5,000 in revenue. Well, following the “Shark Tank” episode, the company was able to bring in a whopping $100,000 within just one month as per Looper. They also report that Greiner was able to get them a deal with market heavyweight Munchkin.
Today, the Baby Toon is easily available in thousands of stores including Target and Walmart. Munchkin might have taken over the product development, manufacturing, and distribution, but Cassidy is still an integral part of the project as a designer. Even today, it’s her face that appears at the back of Baby Toons.
It’s safe to say that the sharks that said no at the time missed out on a fantastic opportunity. Stories like these are exactly what makes “Shark Tank” an appealing option for thousands of small business owners with out-of-the-box ideas and products.
