Sarah Paiji Yo and Syed Naqvi Started Blueland with a Cause to reduce plastic, and that is a billion plastic bottles of waste through a cleaning essential Kit consisting of a bottle and a soap refill in the form of a tablet
They started their Company on Earth Day, April 22, 2019, with cleaning tablets and “Forever Bottles”
Sarah is an Undergrad in Economics from Harvard
Syed graduated from the University of Pittsburg in chemistry
The ask from the founders was $270,000 for 2% equity
Earlier funding received is $ 3 Million at $ 13Million Valuation
# Products in the offering is 4
- Foaming Hand Soap
- Multi-Surface Cleaning Spray
- Bathroom cleaning Spray
- Glass and Mirror Cleaner
Price at time of Shark Tank Appearance
Starter Set: One Bottle and the cleaning tablet Cost $12, and the complete Set of 4 Cost $39 and the Refill Cost is $2
At the time of appearanc,e they have done $200K in Sales in a month only through selling online via D2C Channel
Shark’s Offer
- Robert Herjavec – Robert decided to keep himself out stating that it will be difficult to change customers’ minds to buy this product
- Mark Cuban – Mark gave a Sarcastic comment stating you guys are here for commercials and kept himself out
- Kevin – Kevin was the 2nd to offer with $270K for 5% +1% Advisory Shares , Counter offer from founders to $270K for 3% and a royalty of 50 Cents/Kit till the $270K is recouped – Deal Sealed
- Daniel Lubetzky – Daniel was the first to offer $1 Million for 25% Stake and also requested if Lorry can Join
- Lori Greiner – Lori revised Daniel’s offer and gave $270K for 8% (4+4)
Post-Shark Tank
Blue land is on a Growth trajectory with multiple Products launched from 2019 till now, Shark Tank gave the Wings
- To date, they have done more than $200 million in Sales
- Creating an environmental impact of reducing 1 billion single-use plastic bottles.