School of Industrial Design Grads Close the Deal on Shark Tank
“Inside each of us is a need to connect with nature in a meaningful way and indoor plants are a fantastic way of doing this” said Beau Oyler when first introducing his and Jared Aller’s product Urbio to the “Sharks” on ABC’s Shark Tank. With their product on display for all five “Sharks” to evaluate, Jared added, “You can create your own Urbio design for your lifestyle.”
Each week on Shark Tank, hopeful inventors present their products and business ideas to a panel of self-made millionaires who started as entrepreneurs. This panel of “Sharks” considers offers from the presenting entrepreneurs who seek investments for their business or product. School of Industrial Design grads Beau and Jared presented their industrial design for indoor greenery, in hopes for a “Shark” to grant them three hundred thousand dollars in product endorsement and receive twelve percent ownership of the company.
Urbio is an indoor vertical garden specifically created for those who live in small urban spaces. It is a fully modular system and can fit on any wall, consisting of a variety of magnetized pots that will hold the weight of the plant to any metal surface. With the assistance of easy to install metal wall plates, any wall can have a flowering and edible garden. There are infinite possibilities with this product for every room in your home. Lori Greiner, a retail mogul, was enthralled by demonstrating this installation process.
Urbio has been sold in over 50 different countries, accumulated one hundred and twenty-five thousand dollars of sales in the first four months and has more sales orders ready to go. Beau and Jared’s design studio has created products that are currently in William Sonoma, Best Buy, Target and Costco. With the purchase orders coming in, these Academy of Art University trained industrial designers have inventory flying out the door, and they need the “Sharks” to invest capital to meet their customer demands.
“Shark” Mark Cuban eliminated himself from the deal due to his prior knowledge of the product. Although venture capitalist Kevin O’Leary was concerned that the Academy duo would work with their eight designers on other projects along side of Urbio, they ensure O’Leary that they will hone-in on Urbio and are committed to meeting the needs of urban gardeners everywhere. With offers on the table from three “Sharks”, the Academy grads had several backings to choose from. The Urbio team decided to go with Greiner’s deal of three hundred fifty thousand dollars of backing for fifteen percent of the company.