Cup Board Pro secured a contract with all five investors on ABC’s Shark Tank as siblings Keira, Kaley, and Christian Young made one of the show’s most emotional pitches. A cutting board with a tray to conveniently catch food juices and scrapes is part of their Cup Board Pro product line.
Cup Board Pro is estimated to have a net worth of $15 million by 2024.
Founders of Cup Board Pro
Keira, Kaley, and Christian were the ones that presented the company to the Shark Tank panel. However, their late father Keith Young founded Cup Board Pro. He always wanted to be on Shark Tank. Professionally, he was a firefighter from New York City.
To cut down on the time needed to clean up after cooking, Keith developed this tool in 2010. But after a year, he had to stop production since his wife Beth was admitted to the hospital with breast cancer.
Beth passed away in 2012. Later that year, Keith registered for Food Network cooking show Chopped where he won the competition twice.
Adapting The Father’s Concept
Keith was confident he could formally bring his chopping board idea to life because of the popularity he had on Chopped. Sadly, he received a cancer diagnosis in 2015, which was allegedly brought on by his firefighting duties on 9/11.
Sadly, he passed away in 2018, leaving their three children on their own. Keira, Kaley, and Christian found that their father had around 2,000 cutting boards in his inventory. Therefore, they established an online store and promoted their product on social media. They only sold roughly 300 copies in three weeks. The siblings applied to Shark Tank after deciding they required assistance from true professionals.
Cup Board Pro Emotional Pitch on Shark Tank
The Young Kids entered the Tank in its tenth season in 2019. They asked for $100,000 equity in exchange for a 10% stake in their business. Although this was a reasonable plan, the Sharks were inspired by the story behind the company. Sharks also observed that the cutting boards had a respectable profit margin.
The five Sharks Lori, Mark, Daymond, Kevin, along with visitor investor Matt Higgins proposed to split $100,000 for 20% stake in the company after discussion. They also stated that they will donate all revenues to a foundation that helps injured firemen.
Growth of Cup Board Pro After Shark Tank
The company’s whole stock was sold out within minutes of their Shark Tank program airing. Moreover, about 100,000 emails were received from clients wishing to purchase one of their cutting boards.
By the end of 2019, they had made over $1 million from the sale of 20,000 units. Following this, the Sharks connected the company with Williams-Sonoma, Inc., which took care of additional manufacturing and marketing pursuits.
Williams-Sonoma is a well-known manufacturer of kitchenware. Cup Board Pro quickly rose to the top of their best-seller list. Their most recent annual revenue is reported to be $3 million.
Net Worth of Cup Board Pro
The net worth of Cup Board Pro is estimated to be $15 million.
What Happened to the Inventor of Cup Board Pro?
Cup Board Pro turned out to be one of the most useful inventions. But, the creator did not survive to see how well-liked his creation was. The father of three was working at Ground Zero when he was stricken with cancer related to 9/11. Surgery, radiation, and chemotherapy were unsuccessful in halting the malignancy. He was placed on hospice in January 2018. Sadly, he passed away on March 17, 2018.
Are There Any Alternatives to Cup Board Pro?
Cutting boards with channels and grooves are available. Cutting boards with built-in compartments to segregate the sliced items are also available. But there is no cutting board that has fluid channels or a detachable collecting cup. Only Keith Young’s custom Cup Board Pro has these features.
Final Thoughts
The Young siblings achieved great things by turning their father’s innovation into a brand with the financial and emotional assistance of sharks. However, to appeal to a larger customer base, they must reduce the cost of the cutting board.
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