FunBites: Here's What Happened After Shark Tank
FunBites appeared on an episode of "Shark Tank" that aired in February 2015, but was originally founded in 2011 by Bobbie Rhoads. Like with many inventors, Rhoads saw a need and set out to answer it. As a mother, she knew firsthand that some kids could be such picky eaters, including her own daughter. This fussiness can arise for a variety of reasons — genetic sensitivities to certain tastes, an attempt at gaining some control, or even from stress being conveyed by the parents. Whatever the reason, anxiety-filled and tedious mealtimes are the opposite of what any busy mom and hungry kid needs.
Rhoads wanted her daughter to give healthy foods a chance, so she invented FunBites, a plastic food cutter that creates a bunch of teeny geometric cutouts — squares, triangles, and hearts. All you have to do is rock the cutter back and forth across fruits, vegetables, bread, sandwiches, cheese, proteins, and more, and then use the removable popper top to easily push the tiny bites out onto the plate. This is something a parent can do when preparing a meal or a fun way for kids to get involved. When Rhoads pitched her product to the sharks she explained that when mealtimes can transform into playtime, they may be more willing to try something new.
What happened to FunBites on Shark Tank?
Bobbie Rhoads had an energetic pitch that included samples of kid-friendly bites and an opportunity for the sharks to try the product out for themselves. She asked the sharks for $75,000 in exchange for 20% equity in the company. When asked about the stats of her new company, Rhoads shared that FunBites had more than $400,000 in sales in the first three years, with $150,000 in the last year, and $40,000 within the three months prior. At the time, FunBites was being sold at multiple online retailers and had just been approved for in-store sales in Target.
Mark Cuban asked Rhoads why she hadn't had more interest from big box stores, and Rhoads admitted that her initial foray into Bed Bath and Beyond and Kohl's was unfortunately unsuccessful. She determined that unattractive packaging was the culprit of the low sales, and made a change. The new packaging features brightly-colored, wide-eyed, silly looking creatures with the FunBites cutter as their oversized mouth and went live six weeks before she came on the show. The sharks nodded their approval.
Who decided to bet on FunBites?
After Rhoads strategically targeted Lori Greiner saying that FunBites would be a great QVC product, the sharks got to talking. Greiner cut through the noise saying, "Guess what time it is? It's deal time." Coming in strong, she offered the asked-for $75,000 for an increased 25% equity. She touted her relationships with retailers and strategy as being a good fit for FunBites. A bit of bickering ensued between Greiner and Daymond John over the sharks' experience with licensing products.
Mark Cuban tried to join the feeding frenzy and get an offer in, but Daymond John was quicker and threw in an offer for $100,000 with a 25% stake. Rhoads looked a bit like a deer in the headlights, but Greiner zeroed back in using an emotional appeal. She said that she believed Rhoads wanted to work with her and that if that was the case, to say yes now. It worked, and Rhoads accepted Greiner's offer.
What happened to FunBites after Shark Tank?
Let's cut to the chase – FunBites is still alive and well. The company hit the ground running shortly after the "Shark Tank" episode aired with impressive sales and went on to create a television commercial. FunBites has been the recipient of numerous parenting and family-focused awards from organizations like The National Parenting Center, Family Choice Awards, and Family Review Center. The product has also been featured on television news channels, "Good Morning America," and Nickelodeon as well as in magazines like Real Simple, Parents, and Women's Day.
FunBites are available at a couple dozen online retailers including Amazon, where they sell for $9.99 each or $23.99 for a three-pack. At a cost of only $1.72 each to produce, that's quite a handy markup. In-store, FunBites can be found not just in the United States, but internationally as well in countries such as Australia, India, Mexico, Saudi Arabia, and South Africa. Many kid-focused boutiques, local chains, and big box stores like Walmart also carry FunBites.
What's next for FunBites?
As a business owner, it seems like Bobbie Rhoads remains fully focused on FunBites. The company offers a limited range of the curved cutters – blue or orange triangles, green or yellow squares, and red or pink hearts. These are the same shapes that FunBites had at the time of Rhoads' "Shark Tank" appearance.
FunBites remains the only product of its kind on the market. That is because in 2011, Rhoads filed a patent to protect her two-piece invention — the cutter and the popper top combined. Other food cutters that are available are basically cookie cutters, which would do the job, but require cutting each bite-sized piece individually and storing lots of tiny metal or plastic shapes.
Reviews on Amazon are somewhat mixed for an overall star rating of 3.6. Some people struggled with cutting sandwiches gracefully without the inside oozing out, and others thought it simply wasn't worth the price. However, the majority of reviewers had positive things to say, especially parents of very picky eaters and children with sensory issues. They also cited how they loved that the product is BPA-free and dishwasher safe. It turns out, people can't get enough of these charming, practical, kid-friendly food cutters.