Friday, December 8, 2023

The BoobyPack 2023 Update- What Happened After Shark Tank

The BoobyPack Before Shark Tank

The BoobyPack is the creation of female entrepreneur, Christina Conrad. She describes it as a ‘fanny pack for your rack’ and the inspiration for this product came about in an unusual way. Christina is a big fan of electronic dance music and found when she attended events or raves she had nowhere safe to place her possessions. So she decided to create the BoobyPack. The BoobyPack is a sports bra with waterproof, zippered pockets that can hold your cell phone, cash and credit cards.

The BoobyPack - the fanny pack for your rack
The BoobyPack – the fanny pack for your rack

At first Christina was just targeting fans of the electronic dance music events like herself but she soon realized that the BoobyPack is a very useful product for women who want to part-take in sporting activities or have an active lifestyle. The BoobyPack is the perfect sports bra to keep your valuables close to you. At first, Christina opted for a Kickstarter campaign to get the BoobyPack off the ground. She was aiming to raise $15,000 but successfully raised $ 32,725 over the course of the campaign. This funding enabled her to broaden the BoobyPack range and even introduced tank tops to the range. The BoobyPack was being sold online but to really get the product out there, Christina knew she would need some additional funding as well as some business expertise. She decided to take her idea to the shark tank. Will the sharks bite and come on board with the BoobyPack?

 

The BoobyPack On Shark Tank

Christina enters the shark tank with an assistant who is wearing the BoobyPack for the sharks to see the product. After introducing herself, she explains that she is seeking an $80,000 investment in return for a twenty per cent equity share in her company. The sharks are amused when Christina explains that the BoobyPack is the ‘fanny pack for your rack’. Christina goes on to explain that it is essentially a fashionable sports bra with two zippered pockets that can store your keys, cash, cell-phone or credit cards. She demonstrates this by placing some valuables into the pockets of the BoobyPack. Christina then goes on to explain the added benefit of the BoobyPack is that it is completely waterproof. This means that you can go and enjoy your favorite music festival or gym class without having to worry about your valuables getting wet in the process.

Lori asks if the sharks get to see samples and Christina hands out custom made samples for each of the sharks to take a closer look at the product. Kevin is wondering about size as not one size fits all when it comes to women’s’ sports bras. Christina explains that the sizes of the BoobyPack range from Small to Extra-Large.

Robert is eager to know about the cost of the product to which Christina informs him that it costs $7.17 to manufacture and retails at $55. Robert is genuinely impressed by this piece of information. Barbara wants to delve deeper into what the sales have been like since the BoobyPack was created. Christina explain that BoobyPack began as a Kickstarter campaign in January 2013 and within thirty days, she had more than doubled her goal income of $15,000. When the website launched in June 2014, $10,000 worth of product sold on the very first day. Robert is clearly impressed by this. Kevin asks for the sales figure since the product launched to which Christina replied that total sales of $167,000 had been reached since the launch of the BoobyPack. Robert wants to know more regarding how exactly the product has been sold so successfully thus far. Christina explains that almost all of the sales have been done online and Robert wants to know what her plan is for the product. Christina explains that while she has just sold the product online, it has been easy for her to maintain the identity of the brand. However, now she is ready to take the BoobyPack to the next level.

Barbara is interested to find out exactly how Christina manages to increase traffic on the BoobyPack website. Christina explains that she has used search engine optimization as a useful marketing tool. Further to that she has been using the popular social media platforms such as Instagram, Twitter, Facebook and Pinterest, to showcase and promote the BoobyPack products. When she mentions the social media platforms, Lori is keen to know how many followers the brand has. Christina claims that there are eleven thousand Facebook followers but that figure is growing by four hundred each week.

Mark is interested to know why the sales have not been higher and wonders why exactly Christina has not been using paid advertising online to help her gain more following and thus gain more customers. Christina is erring on the side of caution and has not taken any sort of salary since starting the company. Barbara is interested to know how exactly Christina is supporting herself. At this point, Christina gets quite emotional when she tells the sharks that her father passed away and left her some money. The money was intended for further education but being an entrepreneur himself, Christina is certain that he would approve of her using it to fund her business.

Mark acknowledges the fact that Christina is seeing how difficult it is to get a company off the ground. For him, he does not think there is enough of the product at present. For those reasons, he declares himself out.  Christina addresses Mr. Wonderful himself and says she would love to do business with him as he is an expert in licensing which is something that could be of benefit to her and to the BoobyPack. Kevin says he will make an offer. He will give Christina the $80,000 and won’t take an equity, however, he wants $10 in perpetuity per unit sold. Christina seems decisive when thanking Kevin for his offer but claims that as her company grows, the last thing she needs is to be siphoning money away from it. Kevin advises her to wait to see if the other sharks have anything to offer before she decides to turn down his offer.

Barbara takes her turn and commends Christina for being the ‘whole package’. Surprisingly however, she declares herself out claiming that she does not think Christina needs any help. Lori commends Christina’s passion and drive and says it is a feature she loves to see in budding entrepreneurs. Although Lori thinks that Christina is a great position to keep building the company slowly, for her it is just too early to commit. Or that reason, she declares herself out.

Robert is impressed at the amount of work Christina has done in a short space of time. As well as that he admires her relentlessness and decides to make an offer. Robert agrees to give the $80,000 but in return for a thirty per cent equity share in the company. Barbara interjects that Christina does not need Robert and in a surprise twist, Kevin jumps in and says he wants to modify his offer. Kevin offers to give the $80,000 as requested. However, once $320,000 has been made, he will no longer take thee $10 royalty per item sold. Instead, he will then hold just a five per cent equity share in the company.

Christina sticks to her guns and although she appreciates that Kevin has modified his offer, she still does not want to be giving away money as the business is still growing. Christina then turns to Robert and makes a counter offer asking him to consider reducing the equity share to twenty-five per cent. Robert is unwilling to move from his first offer and maintains that he wants a thirty per cent equity share of the company. In another incredible twist, Barbara interjects once more and says she will offer $80,000 for a twenty-five per cent equity share. Christina instantly agrees and the deal is done.

Barbara makes a shock offer after previously declaring herself out
Barbara makes a shock offer after previously declaring herself out

Christina leaves the shark tank incredibly happy that she has Barbara on board. She acknowledges how hands on Barbara is with all of deals she makes in the shark tank and the prospect of working with her and taking the BoobyPack to the next level is an exciting one!

 

The BoobyPack Now In 2023 – The After Shark Tank Update

The “Shark Tank Effect” caused their sales to explode. Within a couple of minutes of the episode airing, they had sold more than $2,000 worth of products, which is impressive to say the least. Not only that but their sales also went up due to the media coverage that they received after appearing on the show. They also received a huge number of encouraging emails from fans.

This motivated Christina, who had plans on getting the BoobyPack in front of as many consumers as possible—not just music lovers, but travelers, athletes, and parents as well.

boobypack fb
The company last updated their Facebook page on December 5, 2016 – the same year they announced that they would be closing

Alas, it was not meant to be. Just a year later, they announced through their social media account that they would be shutting down in late 2016. They ended up holding a final sale on the popular e-commerce site, Zulily, in December, before officially closing their doors in January 2017.

We’re not exactly sure why they folded but as far as we can tell, Barbara did stay on in some capacity as she was featured in several of the company’s social media posts prior to their closure. Prior to pulling the plug, Christina also thanked fans for their support on Facebook. However, it didn’t seem to gain much traction as it only received a few likes.

boobypack closure
The message that they posted on Facebook, announcing that they would be closing

As of 2023, the Boobypack is no longer available for purchase anywhere. In fact, there aren’t many posts about the product at all, other than the ones that detail their Shark Tank experience. While their social media pages are still up, it’s obvious that they have been abandoned as they haven’t been updated since 2016—the same year they announced their closure.

boobypack christina
Christina Berinstein’s Instagram profile (her account is currently set to private)

What is Christina up to nowadays? From the looks of it, she has decided to pursue her passion for writing once again. According to LinkedIn, she currently works as a freelance writer and lives with her husband and dogs on a farm in Connecticut.

princess pinecone
Christina has since released a children’s book titled, Princess Pinecone and the Wee Royals

At one point, she also published a children’s book titled, Princess Pinecone and the Wee Royals, with 10% of all proceeds going to GIY, a social enterprise business that empowers kids and adults. That’s not all, she also has a novel in the works. For those who are interested, you can check out her current and past projects on her official website christinabernstein.com. She even has a section where you can buy her personalized books.

The bottom line is, the company no longer exists; she has moved on to other things. Given that, we probably won’t be seeing Christina in the tank again anytime soon.

Katie Lally
Katie Lally
After travelling all over Asia, I have just returned back home to Ireland. I've been writing for the past two years. I'm a big animal lover, a complete foodie and a Muay Thai newbie.
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