'Shark Tank' deal turned poop stool into a $260M empire — and it all started with a mom’s struggle
A son's concern for his mother's health led him to invent a $260 million profit venture. Bobby Edwards designed a pooping stool that transformed bathroom habits in America. Squatty Potty recorded $1 million in sales right after appearing on 'Shark Tank.' Bobby and his mother, Judy, sought $350,000 for a 5% stake in their company while pitching their innovative product to the sharks in 2014. "Anatomically, we have a muscle called the puborectalis muscle that wraps around the base of our colon, forming a kink, and when we're sitting on the toilet, this kink only partially relaxes, and only when we are in a squat position does this muscle completely relax and allow us to have a complete and full elimination of our waste," Judy explained.
The entrepreneur who started her business from a home garage continued, "A simple stool that's been carefully designed allows the user to squat in a healthy position while still enjoying the comfort and convenience of their western toilet, and when not in use, it stores neatly away." However, the millionaire investors remained skeptical about the profit and sales of the product since Bobby had valued the venture at seven million dollars. But the figures left everyone on the panel astonished. "We had been in business for three years, the first year in business, we sold one million dollars in Squatty Potty, come on, the year after, the year after, we did 2.7 million yes, I like it, and this year alone we just sold two million dollars of spotty potties in the first two quarters," he revealed.
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Bobby shared that his product saw incredible sales through both the website and Amazon. The maverick entrepreneur further explained that his company had obtained patents for all of its designs, and a new Squatty Potty stool with adjustable heights was in the making. "We have patent pendings on this adjustable squatty, so an adjustable stool that raises with toilet height," he said. Bobby aimed to get FDA approval and categorize his invention as a medical device; hence, he needed the extra funding from the sharks. Kevin O'Leary quoted $350,000 for a 10% stake, while Robert Herjavec opted out after not seeing how the company would convince people to change their habits.
Bobby countered O'Leary's deal with an offer of $700,000 for 10%; unfortunately, none of the sharks were interested. Bobby went back and forth till Lori Greiner proposed $350,000 for a 10% stake. They inked the deal, and the rest is history. As per Fandomwire, Squatty Potty's sales zoomed after a clever marketing trick involving a unicorn-pooping-ice-cream ad. “I’ve proven a lot of people wrong, and it’s felt really good,” the entrepreneur said. Bobby's company expanded following a $10 million deal in 2019 and a $31.1 million buyout by Aterian in 2021. The company is now valued at $260 million and is on par with companies like Scrub Daddy.
