Whatever Happened To KaZAM Bikes After Shark Tank?

There are many ways to make a pitch on "Shark Tank" stand out. One such method is to bring adorable children to the forefront when attempting to get funding for something kids will benefit from because kids are the future, after all. That's precisely what Mary Beth Lugo did on Season 4, Episode 24 of "Shark Tank" when she had her kids ride around on KaZAM Bikes to make her case in front of the sharks. 

These weren't just ordinary bikes but instead "balance bikes" designed to help kids learn how to properly balance on a bicycle taking off, aiding with better motor skills in the process. While these particular bikes had taken off in Europe, Lugo hoped to build them up in the United States and already had a track record of modest success. However, she went to the sharks to get $300,000 in exchange for 20% equity in the company. Unlike another kid-centric vendor, KidsLuv, Lugo walked away with a deal, namely $300,000 for 32% equity, with Mark Cuban and Barbara Corcoran going in together. 

Granted, a handshake and a promise aren't always a guarantee a company appearing on "Shark Tank" will see success. So what has KaZAM Bikes been up to in the years since?

Avid "Shark Tank" viewers had a chance to see for themselves how well KaZAM Bikes has done after Mary Beth Lugo's pitch in a Season 5 episode that caught up with the entrepreneur. In the short time since she made a deal, KaZAM Bikes escalated to $1.5 million in sales. This was undoubtedly aided by the products getting prominent placements in Sky Magazine and the Oppenheim Toy Portfolio, the latter of which gave them the Mr. Dad Seal of Approval. Sales were further boosted when the bikes began being sold at Dick's Sporting Goods and Toys "R" Us locations. 

As of 2023, KaZAM Bikes is still going strong. The company has its own website where the original bike design, as well as numerous other products that have become part of its catalog over the years, can be purchased. Several bikes are available in a range of price points and colors to suit every need, and KaZAM Bikes has also begun selling replacement parts, pads, helmets, bike seats, and child trailer bikes to make them a one-stop-shop for everything parents need to get their kids up and moving. All of this has resulted in a current annual revenue of $5 million.

On "Shark Tank," much of the reservation from investing in Lugo's idea came from her admitting she was a shy, reserved person, and the sharks wanted to do business with someone who could be aggressive. It seems she has that passion for business, after all, turning this into one lucrative investment.