|SEASON 5 EPISODE 29|
|Pitch||collapsible home storage box|
|Asked For||$50,000 for 20%|
|Deal||$50,000 for 40%|
|Status||Out of Business|
What is BZBox?
BZBox design comes in the form of a collapsible storage box with a lid. When not in use, it can easily fold up and be stored away. Alternatively, when in use, it can hold items safely and allow the user to transport items without fear of the box falling apart. The reason for this is due to the box’s unique locking mechanisms that require no tape.
Who Owns BZBox?
Kaeya Majmundar is the inventor of BZBox. A graduate of Emory University with a BA in Economics and Sociology. She now resides in Chicago and has been working for the past two years for a new company she had a hand in beginning. She’s presently a co-founder of a start-up called SwayPay. It’s a marketing company that works with other big brands to help consumers save money.
While in college, Kaeya’s roommate asked her to move a bunch of boxes into storage while she sat an exam. Being a good friend, Kaeya agreed, but things took a turn for the worst when she picked one of the old, poorly packed cardboard boxes.
Annoyingly, everything fell straight through on the way out to her car, creating a huge mess. Thus, a long day followed as she had to repack all of her roommate’s stuff. Part annoyance, part inspiration, she decided to find a solution, which led to her beginning to conceptualize the BZBox.
Unfortunately, when she approached her parents about it, they weren’t too impressed. So being a student still in college, she sought an investor to inject some capital into her business idea and help get it off the ground.
What Happened After Shark Tank Update
Is BZBox Still in Business?
BZBox never really took off (despite a small number of sales post her Shark Tank appearance) as Kaeya could not get any investors for large-scale production and chose to pursue her studies. Upon graduating from college in 2015, Kaeya launched her product development and marketing company, Kaeyos, which she ran for a few years. Around this time; she also launched a second product, Zip Tank (a patented convertible tank top tote bag), which she managed to get featured on Project Runway.
Had Kaeya been successful, she would have faced competition from the likes of Lend A Box, who offer users recyclable boxes to borrow rather than purchase. This on top of many other similar concepts available online at Amazon or in-store at the likes of Walmart, etc.