FunBites is a device that helps to cut food into fun bite-sized shapes for children. Bobbie Rhoads introduced FunBites in 2011. The FunBites owner, Bobbie Rhoads came up on Shark Tank season 6 in 2015.
As of 2023, the estimated net worth of FunBites is $1.4 million. They are generating nearly $2 million in revenue annually. They were able to make a deal of $75,000 with one of the sharks named Lori Grenier on the popular television show Shark Tank for which they had to give up a 25% equity stake in their business. The valuation was finally down to $300,000 from the inventor’s initial valuation of $375,000.
FunBites is a completely easy and fun appliance that helps to feed the picky eaters. In this way, a lot of parents find the product very useful. After securing their desired investment from Shark Tank, FunBites gained huge popularity in the market. As of 2024, FunBites is still active in business. The product is available for purchase on the official website of Funbites and Amazon.
This article will delve deep into FunBites Shark Tank episode including its net worth, current status, and after Stark Tank status. So stay tuned with us till the end.
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Funbites Net Worth 2021 to 2023
Funbites Net Worth 2021
In 2021, FunBites had an approximate net worth of $1 million.
Funbites Net Worth 2022
In 2022, FunBites had an approximate net worth of $1.4 million.
Funbites Net Worth 2023
As of 2023, the estimated net worth of Funbites is $1.4 million.
What Was The Net Worth Of Funbites Before Appearing On Shark Tank?
Before appearing on Shark Tank, Funbites had an approximate net worth of $375,000.
What Was The Net Worth Of Funbites After Appearing On Shark Tank?
After appearing on Shark Tank, Funbites had an approximate net worth of $300,000.
The Genesis Of FunBites
Just like the other founders, Bobbie Rhoads also found a demand and started to venture to answer it. Being a mother, she knew very well that some kids can be such picky eaters including her daughter.
There might be a wide range of reasons behind this fussiness from genetic sensitivity to certain tastes, an endeavour at attaining some control or even from tension being expressed by the parents. Anxiety-filled and monotonous mealtimes are the opposite of what any busy mom and hungry kid requires no matter what the reason is.
Rhoads wanted to give her daughter healthy foods at a time. That is why she created a plastic food cutter named FunBites which is popular for creating a lot of teeny geometric cutouts such as squares, triangles, and hearts.
All you need to do is to rock the cutter back and forth across fruits, bread, vegetables, sandwiches, proteins, cheese, and more and then push the tiny bites out onto the plate by using the removable popper top.
This is something a parent can do while making a meal or a fun way for children to get engaged. When Bobbie Rhoads introduced her product in front of the panel of sharks she described that when mealtimes can be changed into playtime, they may be more inclined to try something new.
An Overview Of FunBites
FunBites food cutter enables you to easily cut different types of food like bread, and fruits into bite-sized pieces. You just need to press down with the curved blade unit and then pop out the pieces with the given attachment.
The pieces also look more enjoyable. All these occur due to the interesting shapes of the FunBites design. The tool is available in various shoes. So, your kids will be able to choose any shape of the cutter as per their wish be it hearts, squares, or triangles. All these have been possible only for FunBites.
FunBites is no doubt a quality, completely BPA-free plastic product and each cutter comes up with a different colour.
How Will You Use FunBites?
If you want to use FunBites you just need to follow three simple steps that are mentioned below:
- Place the FunBites cutter on top of the food. Remove the popper top and put it to the side. You are all set to go.
- Hold the cutter handles firmly rock back and forth 5 to 6 times to cut through the food.
- Insert popper top. Lift the cutter from the food. Then insert the upper top and push down to pop out the bite-sized pieces.
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Who Is The Person Behind The Foundation Of FunBites?
Bobbie Rhoads is the person behind the foundation of FunBites cutter. She came up with the idea of FunBites as she had a picky eater. Her 7-year-old daughter Dylan wanted to eat bite-sized food only.
Bobbie Rhoads set up FunBites in 2011. Bobbie has taken her education in Psychology. Later on, she studied Business Management and Marketing. Before introducing FunBites, Bobbie had worked at Revlon for nine years. The founder of FunBites, Bobbie Rhoads has an approximate net worth of 1.4 million USD as of 2024.
So, instead of slicing it herself, Bobbie developed FunBites so that kids can safely cut it themselves. Furthermore, as FunBites allows them to play with their food, they are usually more interested in eating it.
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When the children of Bobbie Rhoads were 11 years and 7 years old she faced a lot of problems as her 7-year-old daughter Dylan was a very picky eater and she wanted to give her daughter healthy food.
Rhoads had to spend a lot of time cutting it up into little pieces. That is why she created something that would allow her children to cut the food up into fun shapes all by themselves safely.
Bobbie represented her product at local shows, as well as trade fairs. Bobbie brought Fun Bites into Buy Buy Baby and on Amazon. Before appearing on Shark Tank, her company was able to generate $400,000 in sales already.
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FunBites Shark Tank Pitch
Bobbie Rhoads had given an energetic pitch on Shark Tank. She represented the samples of the kid-friendly bites and distributed those among the stars so that they could try the product.
On the FunBites Shark Tank episode, she appealed to the sharks for an investment of $75,000 in exchange for a 20% stake in her business.
When the sharks wanted to know about the stats of her new company, Bobbie Rhoads replied that FunBites had generated more than $400,000 in sales in the first three years with $150,000 in the previous year and $40,000 within the three months prior.
When FunBites was pitched on Shark Tank, it was available for sale at several online retailers and had just been authorized for in-store sales in Target.
Mark Cuban wanted to know from Bobbie Rhoads why she had not had more interest from big box stores, and Rhoads confessed that her initial venture into Bed Bath and Beyond and Kohl’s was unfortunately unsuccessful.
She realized that unappealing packaging was the reason for the low sales, and that is why she made a change. The new packaging features brightly-coloured, wide-eyed, silly-looking creatures with the FunBites cutter as their oversized mouth and went live six weeks before she appeared on the show. The sharks shook their heads in approval.
Who Finally Bet On FunBites?
When Bobbie Rhoads put her focus surgically on Lori Grenier deciding that Funbites would be an outstanding QVC product the sharks started to talk.
Lori Grenier stopped the noise by saying what the time was, it was time to make a deal. She then declared that she was ready to invest $75,000 in the business, Funbites. But for this, the founder, Bobbie Rhoads had to give up a 25% stake in her business.
She lauded her relationships with retailers and strategy as being a perfect fit for FunBites. A little bit of dispute ensued between Lori Greiner and Daymond John over the sharks’ experience with licensing products.
Mark Cuban attempted to join the feeding fever and get an offer in, but Daymond John was sharper and gave an offer of $100,000 in exchange for a 25% stake.
Bobbie Rhoads looked a bit like a deer in headlights, but Lori Greiner zeroed back by using a touching plea. She declared that she thought Rhoads was interested in working with her and that if that was true, she had to say yes now. It was successful, and Bobbie Rhoads finally accepted the proposal of Lori Greiner.
FunBites Post Shark Tank Success
FunBites is still running its business operations smoothly as of 2024. The firm hit the ground running soon after the Shark Tank episode aired with remarkable sales.
FunBites after Shark Tank went on to appear in a television commercial. FunBites has obtained a lot of parenting and family-based awards from different organizations like The National Parenting Center, Family Choice Awards, and Family Review Center.
The product has also been shown on television news channels like Good Morning America and Nickelodeon. The magazines like Real Simple, Parents, and Women’s Day also featured the product in their magazines.
You may find FunBites available for sale at a wide range of online retailers including Amazon. The selling price of a FunBite is $9.99 each and if you buy a three-pack you will need to spend only $23.99. On the other hand, the manufacturing price of each FunBite is $1.72, which is relatively a convenient markup.
You may find FunBites in-store not only in the United States, but also internationally as well in countries like Australia, India, Mexico, Saudi Arabia, and South Africa. Many kid-oriented boutiques, local chains, and big box stores like Walmart also sell FunBites.
The Future Plan Of FunBites
Bobbie Rhoads kept her full focus on FunBites. The company provides a small range of curved cutters – blue or orange triangles, green or yellow squares, and red or pink hearts. These are the same shapes that FunBites had when Rhoads appeared on Shark Tank.
FunBites sticks around the only product of its kind on the market. That is because, in 2011, Rhoads filed a patent to safeguard her two-piece invention — the cutter and the popper top integrated.
Other food cutters that are available in the market are generally cookie cutters, which would do the job, but if you use this, you have to cut each bite-sized piece separately and store lots of tiny metal or plastic shapes.
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People have given mixed reviews with an overall star rating of 3.6 on Amazon about FunBites. Some people faced problems while trying to cut sandwiches gracefully without the inside oozing out, and others believed that it simply was not worth the price.
However, most of the reviewers had given positive remarks, particularly parents of very picky eaters and kids with sensory problems. They also mentioned how they loved that the product is BPA-free and dishwasher-safe.
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After appearing on Shark Tank, there has been a remarkable rise in the sales of FunBites. As soon as the episode was aired, they generated $150,000.
Working with their Shark Tank mentor, Lori Grenier, they were able to expand their reach all over the world, and to a lot of retail stores.
The product of the company was available for purchase at multiple retailers. The Funbites product is available all over the United States, as well as Canada, Singapore, Malaysia, and India.
You can also purchase them online on Amazon, Luna Bella Boutique, Nordstrom, as well as their website.
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Are FunBites Still Successful?
Within a few weeks after appearing on Shark Tank, Rhoads was able to sell $150,000 worth of products.
Rhoads came up on QVC and made a commercial to publicise her products further. FunBites has earned a lot of awards over the past few years such as the “National Parenting Publications Awards” and was recognized for ‘Momspiration’ by Huggies.
The product has been found on different network programs like “Good Morning America” on ABC and publications like “Parenting” and “Real Simple.”
FunBites has introduced several kid products after appearing on Shark Tank such as Happy Mat, an all-in-one silicone placemat and plate that suctions to the table, preventing the unavoidable toddler food toss, and Lollacup, the sippy cup with a straw for kids.
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Where Are FunBites Now?
Bobbie was able to get what she wished for by visiting Shark Tank. If you pay a visit to the official site of FunBites, you will be able to find the entire range along with the awards the company won like Mom’s Best Award. The product is now available on the official site and on Amazon.
The founder of FunBites, Bobbie Rhoads has proved that with determination and proper execution, one can reach the top of success. The most interesting thing is that the company is still active in business and running its business operations smoothly. So, we are eagerly waiting to see FunBites become more successful.
Who is the founder of FunBites?
Bobbie Rhoads is the founder of FunBites. She introduced the business in 2010.
Was FunBites able to get a deal on Shark Tank?
Yes, FunBites was able to get a deal from one of the sharks named Lori Grenier on Shark Tank. She invested $75,000 in the business in exchange for a 25% stake.
What is the net worth of Funbites as of 2023?
As of 2023, Funbites has an estimated net worth of $1.4 million.