Additional Coverage:
- ‘Shark Tank’ contestants wanted $250,000 for their banana phone — and it went as expected (marketrealist.com)
Ring ring ring ring ring ring ring ring ring ring ring BANANA PHONE! This quirky device recently made its debut on “Shark Tank,” and while the Sharks were certainly amused, they weren’t exactly peeling with excitement.
Entrepreneurs Max Brown and Brian Brunsing entered the Tank seeking a $250,000 investment for a 10% stake in their company, Banana Phone. Their pitch?
Traditional workdays are boring, lacking in human interaction, and desperately need more fun. Their solution?
A Bluetooth-enabled phone shaped like, you guessed it, a banana.
Brown and Brunsing touted the phone’s ability to inject some levity into the daily grind. They also highlighted their philanthropic efforts, donating 1% of sales to gorilla conservation.
With six years under their belt as a side hustle and $1.6 million in lifetime sales, the duo seemed to have a ripe business. Each phone retails for $39.99 and costs $6 to produce, leaving a healthy profit margin.
The Sharks, however, weren’t quite convinced. While praising the creativity and novelty, concerns arose about the product’s long-term viability and scalability in retail giants like Bed, Bath & Beyond. Despite the entrepreneurs’ enthusiasm and the product’s trademark protection, the Sharks ultimately hung up on the deal.
Though they left the Tank empty-handed, the Banana Phone founders had the last laugh. The product went viral after the episode aired, boosting sales and leading to a lucrative acquisition in 2023, proving sometimes the silliest ideas can bear the sweetest fruit.