On Shark Tank Season 14, the Banana Phone was a colossal flop. In case you missed it, the founders couldn’t get the Sharks on board with their unconventional gadget. They pitched their idea during Episode 2, which aired on Friday night (September 30). The gadget communicates with other smartphone devices via Bluetooth.
During the second episode, Brian Brunsing and Max Brown shared their idea with the sharks. The Banana Phone was worth $1 million in 2022. They were asking for $250,000 in exchange for 10% stock in their product. However, no one was budging or making a deal with them. Read on to learn more and see what happened.
What is the Banana Phone?
Don’t confuse the Banana Phone with the 1994 children’s song “Bananaphone.” The Banana Phone Bluetooth Headset communicates with other cell phones. It’s shaped exactly like a banana. It pairs with any smartphone via Bluetooth. With it, you can make and receive calls and play music.
It’s a funny way to use your phone. The novelty gift puts a smile on people’s faces. Plus, Banana Phone donates 1% of revenue to support Gearing Up 4 Gorillas’ work in the Democratic Republic of Congo. You can check out the Banana Phone for yourself on the official website here.
— Banana Phone (@bananaphoneco) September 30, 2022
During Episode 2 of Shark Tank Season 14, the Buffalo-based creators shared their fun concept with the Sharks. It resembled a cordless phone, which is now a relic of the past. The Banana Phone was inspired by Raffi’s children’s song and the memes that came from it. The creators wanted to make something that would put a smile on people’s faces and do some good in the world.
Both of the creators love gorillas. They passionately talked about the extinction of the species. In 2017, they debuted the Banana Phone LLC and collaborated with Gearing Up 4 Gorillas. The creators wanted to be involved with a cause that they believe in. They felt so passionate about this product that they brought it to Shark Tank.
Shark Tank Episode 2, Season 14: Not Appealing?
Brian shared on Shark Tank that creating the Banana Phone involved a lot of late hours. They wanted to pitch their business to the sharks with the hope that their side hustle could become more fruitful. The company has already made over $1.6 million in sales. In 2021, it made $540,000 in sales and a net income of $123,000 in the past 12 months.
Shark Robert Herjavec asked them how they plan to increase sales in the near future. They admitted that they will rely on social media marketing. Fellow Shark Kevin O’Leary asked the founders if they work full-time. He said that it’s “beyond insane” what they’re trying to do in the retail industry. Kevin didn’t feel the need to add a Banana Phone to his portfolio, so he was out.
Will we get a deal? Tune in this Friday, September 30th at 8/7c to watch our founders Max Brown and Brian Brunsing, pitch the Banana Phone to the sharks on ABC's Shark Tank! 🦈 #sharktank pic.twitter.com/IdvgXQV9ci
— Banana Phone (@bananaphoneco) September 27, 2022
Mark Cuban didn’t understand how the founders will make $2.5 million. Robert doesn’t see the Banana Phone becoming a lucrative business. Shark Lori Grenier wasn’t interested in the novelty concept. Shark Barbara Corcoran doesn’t think the business can grow with both of the founders only working part-time. Ultimately, the Banana Phone wasn’t a hit on Shark Tank.
All the Sharks backed away from the deal. What do you think of the Banana Phone? Do you think it has potential? Or, do you think it’s a gimmick? Sound off below in the comment section.
Shark Tank Season 14 airs on Fridays at 8 p.m. ET on ABC.
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