Qubits Shark Tank Update (Season 1)

Qubits Toy Company Founder and CEO Mark Burginger asked Sharks for $90,000 for 51% equity at a $176k Valuation after appearing in Shark Tank Season 1 Episode 10. Mark played with construction toys when he was a child and as he grew up, he became an architect.

He started Qubits Toy Company in 2005, and by 2007, architectural jobs had become increasingly difficult due to the slow economy. He had a debt of $60,000 and was running his entire business out of the garage.

He needs sharks to grow the business and repay the debt. Daymond John invested $90,000 in Qubits Toy Company for 51% equity. It must have been helpful to Mark, so let’s find out what this Qubits Toy Company is all about.

What Are Qubits?

Qubits is a construction toy that teaches how to design buildings. Kids assemble toys to create modular designs and geometric shapes. These toys will increase the creativity of children. 100 pcs STEM Building Set costs $100. If you buy 10 packs of 100 pcs Qubits Kits, it will cost $600. The construction toys of this company are also available on Amazon.

Company NameQubits Toy Company
FounderMark Burginger
ProductConstruction Building Pieces
Asked For$90k for 51% equity
Final Deal$90k for 51% equity
SharkDaymond John Daymond John
Episode (Shark Tank USA)S1 E10
Air DateJan 29th, 2010
Business StatusIn Business
WebsiteVisit Website
HeadquartersHendersonville, North Carolina, USA
Lifetime Worth (Sales)$10M *estimated
Buy and WatchBuy NowAmazon Prime

STEM Construction Set

  • Easy to Clean
  • 3.7 Star Rating
  • Long Durability

Another Shark Tank Pitch

Who Is The Founder Of Qubits?

Image via ABC Shark Tank

The founder of Qubits Toy Company is Mark Burginger who is an architect. His wife Lisa Burginger is co-owner and educator of this company. Mark loved his architectural jobs but the slow economy left him $60,000 in debt between 2007-2009.

How Was The Shark Tank Pitch of Qubits?

Mark asked the Sharks for $90k for 51% equity and explained to the Sharks about his flexible toy product. Mark holds the patent for these products. The toy’s sales so far are $8,000, which is quite low and the Sharks were shocked to hear this.

He has spent $60,000 on this business to start it. Kevin O’Leary said that he does not see any opportunity to invest in this business, so he is out. Robert Herjavec told Mark $60k was wasted. He is not interested in investing in this business.

Kevin Harrington said that he could not compete with a big brand like Lego. Barbara Corcoran said she’s out, too. Daymond John offered $90k for 51% equity, but he would bring a person from Contingency into the deal.

Sharks Offers list!

Barbara Corcoran Barbara CorcoranNo Offer
Kevin O'Leary Shark Tank Profile Kevin O’LearyNo Offer
Robert Herjavec Robert HerjavecNo Offer
Daymond John Daymond John$90k for 51% equity
Kevin Harrington Kevin HarringtonNo Offer
Founder’s (Countered)No Counter
Final Deals$90k for 51% equity

What Happened To Qubits After Shark Tank?

Qubits gets a deal in Shark Tank Daymond John invests $90k in this toy company for 51% equity. In 2010, the company’s sales skyrocketed and Mark moved out of the garage and opened his own office in Hendersonville, North Carolina.

as of April 2024, the company is estimated to be doing $1.3 million in annual sales. Mark and his wife Lisa are still associated with this company.

Qubits Shark Tank Update

After getting the deal in Shark Tank, this toy company saw a positive response in sales, and the annual sales increased from 8,000 to a million. Robert Herjavec told Mark Burginger that it was a useless business, but Mark proved that his business was not useless.

What Is Qubits’s Net Worth?

Qubits’s net worth is estimated at $1 Million. The toy company has estimated lifetime sales of $10 million and is profitable. However, when I checked on Amazon, I did not find more positive results regarding this product.

Annual Revenue by Years

Note: This report is based on our research and data so far. In this, we are only estimating the annual revenue.

YearsAnnual Revenue
2005-24$10M *estimated

Funding Reports to Date!

YearsFunding AmountInvestor

Is Qubits Still In Business?

Both Mark and Lisa are trying to expand this business but till now they have not received much good response from the buyers. Maybe they need to make some improvements to the product.

The official headquarters of this toy company is in Hendersonville, North Carolina, United States and according to its LinkedIn profile, it has 2-10 employees.

Yes, Qubits is still in business as of April 2024.

frequently asked questions

Who founded Qubits?

Qubits was founded by Mark Burginger.

Did Qubits get a deal on Shark Tank?

Yes, Qubits get a deal on Shark Tank.

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