Chubby Buttons Shark Tank Episode 17 Update & Net Worth

Chubby Buttons Shark Tank Episode 17 Update & Net Worth

Chubby Buttons, the world’s first wearable Bluetooth remote device, was featured on Shark Tank during Season 14, Episode 17, which aired on March 17, 2023.

This innovative product, designed by Mike Cherkezian and Justin Barad, allows users to easily control their smartphones with large, easy-to-press buttons, making it particularly useful in situations where people are wearing gloves or gear—such as skiing, motorcycling, or flying.

During their Shark Tank pitch, the co-founders sought $250,000 for 8% equity in their company. Although they didn’t walk away with a deal, the exposure from the show significantly boosted their business. As of April 2024, Chubby Buttons has an estimated net worth of $3.1 million.

What is Chubby Buttons? How Does it Work?

Chubby Buttons is a wearable Bluetooth remote device that provides a simple and effective way to control your smartphone without needing to touch the screen directly.

The device connects to smartphones via Bluetooth 5.1 and features oversized buttons, making it perfect for use in scenarios where fine motor control might be hindered—such as when wearing gloves during outdoor activities like skiing or motorcycling.

The device allows users to perform various functions, such as adjusting the volume, pausing music, taking calls, and even accessing Google Assistant. It is also weatherproof and comes with a 4-month long-lasting battery. Chubby Buttons is available in three variants: Patriot, Tron, and Hunter, each priced at $74.99. The device is compatible with both iPhone and Android smartphones, making it a versatile solution for a wide range of users.

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Chubby Buttons Shark Tank Episode 17 Season 14: What Happened at Shark Tank Pitch?

In their Shark Tank appearance during Season 14, Episode 17, co-founders Mike Cherkezian and Justin Barad presented Chubby Buttons to the Sharks, seeking $250,000 for 8% equity. They explained the product’s functionality and its appeal to active individuals who need a convenient way to control their smartphones while engaged in outdoor activities.

The co-founders shared that Chubby Buttons had generated $500,000 in sales in 2021 and $600,000 in 2022. The product is manufactured at a cost of $11.57 to $13.37 per unit and is sold at $79.99, yielding a profit margin of over 80%. Despite these impressive margins, the Sharks had concerns about the company’s valuation and the long-term scalability of the business.

Kevin O’Leary showed interest and offered $250,000 for 10% equity, but with a $10 per unit royalty until he recouped four times his initial investment. However, Mike and Justin were not willing to accept such a high royalty rate, and after failing to reach an agreement, they walked away without a deal.

Chubby Buttons Shark Tank Pitch Summary

What Happened to Chubby Buttons After Shark Tank?

Despite not securing a deal on Shark Tank, Chubby Buttons has continued to thrive. The exposure from the show provided a significant boost in visibility, leading to increased sales and a broader customer base. The company capitalized on this momentum by enhancing its marketing efforts and expanding its distribution channels.

Chubby Buttons is now available for purchase on its official website as well as major platforms like Amazon. The company also saw a reduction in its customer acquisition costs, as predicted by Kevin O’Leary during the show. This reduction, combined with the continued popularity of the product among outdoor enthusiasts, has contributed to the company’s sustained growth.

How Much Is Chubby Buttons Worth?

As of 2024, Chubby Buttons is estimated to be worth $3.1 million. This valuation reflects the company’s successful sales performance, solid profit margins, and the strong market demand for its innovative product. The device’s versatility and appeal to a wide range of active consumers have played a key role in driving its value.

Is Chubby Buttons Still in Business?

Yes, Chubby Buttons is still in business and continues to grow. The company has maintained its momentum following its Shark Tank appearance, with strong sales and a dedicated customer base. The product’s availability on multiple platforms, including Amazon and the company’s own website, has helped to sustain its market presence.

Which Episode & Season Number Was Chubby Buttons on Shark Tank?

Chubby Buttons was featured on Shark Tank during Season 14, Episode 17, which aired on March 17, 2023. In this episode, co-founders Mike Cherkezian and Justin Barad pitched their wearable Bluetooth remote device to the Sharks but ultimately did not secure a deal.

Frequently Asked Questions

Who are the founders of Chubby Buttons?
Chubby Buttons was founded by Mike Cherkezian and Justin Barad, who developed the product to provide a convenient way for users to control their smartphones during outdoor activities.

What is Chubby Buttons?
Chubby Buttons is a wearable Bluetooth remote device that allows users to control their smartphones with oversized buttons, making it ideal for situations where precision control is needed, such as during skiing, motorcycling, or other outdoor activities.

Did Chubby Buttons get a deal on Shark Tank?
No, Chubby Buttons did not secure a deal on Shark Tank. While Kevin O’Leary made an offer, the co-founders declined due to the high royalty terms.

How much is Chubby Buttons worth?
As of 2024, Chubby Buttons is estimated to be worth $3.1 million.

Is Chubby Buttons still in business?
Yes, Chubby Buttons is still in business and continues to thrive in the market.

Which episode of Shark Tank featured Chubby Buttons?
Chubby Buttons was featured in Shark Tank Season 14, Episode 17.