ootBox is a Movable, Temporary, and Beautiful Workspaces Participated in Shark Tank Season 13 Episode 16. This ootBox solves the problem of workspace and a quiet environment. Through this product, you can create a new office for some time to do your work. The founder of this company demanded $300,000 in Shark Tank in exchange for 5% equity of their company.
There are many people who want to start their own startup and want to make their business but they do not have many funds. That’s why he can’t take an office because it costs him a lot for an office.
There are many such things which people want to do on a temporary basis but they cannot do it because they do not have an option.
In this way, people who do office work in their home as work from home need a separate room to do this. By the way, there will be many people who cannot afford their own room because their expenses are very high. This is an ootBox company that solves many such problems.
This is an innovative startup that does a different kind of work than other startups. In the coming time, its need is going to be very high.
What is an ootBox?
ootBox Columbus, Ohio Base is a Leasing Real Estate Startup founded on 12th November 2020. It provides a workspace to the user, through which people from startups, corporate, etc. can do their interviews and work.
This company turns a 10-foot shipping container into an office. Founder Robbie Friedman came up with this idea when he wanted to create a separate space outside his office near the house, it came up with the “out-of-the-box” idea.
Wherever you are, this OotBox provides a space solution where you are confident. Like this, there are many companies that provide offices for backyard offices, modular meeting rooms.
This OotBox works on a completely different model from the rest of the companies. Many companies sell small offices for hundreds and thousands of dollars. It provides workspace service to the user on a rent basis of $1,500 per month.
|Founder||Robbie Friedman and Allison Zofan|
|Product||Full-service offices delivered wherever they are needed|
|Asked For||$300k for 5% equity|
|Final Deal||$300k for 9% equity|
|Episode (Shark Tank USA)||S13 E16|
|Air Date||Mar 18, 2022|
|Business Status||In Business|
|Headquarters||Columbus, Ohio Area, United States|
|Lifetime Worth (Sales)||$5M *estimated|
|Go To Amazon||Buy Now|
|Watch On||Amazon Prime|
Another Shark Tank Pitch
Who Is The Founder Of ootBox?
The founder & CEO of ootBox is Robbie Friedman and another founder is Allison Zofan. Founder Robbie did a lot of research before starting this startup and found out about its need When he felt that this was a big problem, then he launched this idea by making it a startup.
Founder Robbie is a law student at the University of Michigan Law School. He had worked in many startups for years, he created the Friedman Law Group, LLC, Viewabill Startup.
Its Co-Founder & COO is Allison Zofan. She has completed her Bachelor of Science, in Public Affairs Management from Indiana University Bloomington.
She worked in “CEB” for 5 years, after that she worked at Gartner for 8 years.
ootBox Before Shark Tank
ootBox was very successful before Shark Tank. The founder had told that they became profitable after 12-14 months. For commercial leases, prices start at about $1,500 per month. This tiny office vise comes in at around £4,000.
They have taken investment from 3 investors before coming to Shark Tank. This is a private company, its last value was $870K. Bolt Ventures, i-Hatch Ventures, Island Capital Funds have invested in this startup.
Did ootBox Get a Deal on Shark Tank?
The founder of ootBox, Robbie and Allison gave a very good pitch in Shark Tank which Shark liked very much. The founder demanded $300,000 from Shark in exchange for 5% of the company’s shares.
Shark asked the founder to know about the feature plan of this startup and their profit. So the founder informed Shark about the sales report.
Barbara offered $300,000 to invest in this startup, in exchange for 9% of the company’s shares. The founder accepted this offer and now Barbara is a 9% shareholder of this company.
Where Can You Buy ootBox?
If you are interested in this service and want to rent your workspace then you can contact on the official website of ootBox. So it currently provides 4 types of workspace, so you can take whatever is comfortable.
Their monthly price starts from $1,500 on movable, easy, and soundproof workshops. This price keeps on changing depending on the requirement of the user, its price is not fixed.
It is made for the work of only one person in The OG in which one person can do his work comfortably. If you want two people to work in it, then you can do it. Its height is 8 feet, 6 inches and width is 8 feet. If you want to take it then it will come to $ 1000 monthly but you have to take a minimum of 3 months.
The O2 provides a truly portable plug-and-play retail experience. Its height is 8 feet, 6 inches and width is 8 feet. You can order by calling, in this the option of customizing is given. It starts at $1100 per month, you have to pay 4 months to get it.
- Plywood Walls and Ceiling, Carpeted Flooring have been properly finished.
- Silent climate control, programmable HVAC
- Motion sensor LED lighting
- Secure access with locks and a keypad
- Fiberglass outswing door
- Many more features have been given with tempered glass.
What Happened To ootBox After Shark Tank?
After the ootBox Shark Tank, its popularity had increased a lot. Many people come to know about this startup. In this way, Shark Tank has become popular on National TV, many startups will definitely copy its business model.
They’ve gotten a lot of success from Shark Tank. They got many orders through its popularity because there are many people who want their own temporary workspace.
In January 2023, they built a huge container for UBCO – Electric Adventure Vehicles at Moda Center. As of April 2023, this company has launched two new models, the OG XL and the Curbside.
OotBox Shark Tank Update
Many people in the United States came to know about this business after this company got successful funding on Shark Tank. Many queries were coming from different corners of the country to buy the products of this company.
What Is The ootBox Net Worth?
ootBox worth depends on its current valuation, so its current valuation is now $3.3 million. The founder says that this startup is profitable business, however, he has come to take investment in Shark Tank for marketing and scaling.
Is ootBox Still In Business?
ootBox is a private company, many of its competitors have been made, although it is still a profitable brand. It currently employs more than 10 employees and is headquartered in Great Lakes, Midwestern.
Yes, ootBox Ski Bikes is still in business as of April 2023.