Whatever Happened To Cubicall After Shark Tank?
The last couple of years has seen a tremendous amount of upheaval regarding work on account of COVID-19. In the early stages of the pandemic, businesses had to quickly adapt to new standards and safety protocols in order to keep people healthy. According to Pew Research, before the pandemic hit, about 20% of jobs operated with a work-from-home setup. That number jumped to 71% during the pandemic, and 54% of responders said that they would want to continue to work from home after the pandemic ends, on account of issues like a better work-life balance and safety concerns regarding the highly transmissible virus. As such, there are plenty of opportunities for investors, inventors, and those who are willing to take another look at how office space is used.
"Shark Tank" is a reality television show that features several high-profile investors judging pitches from would-be innovators and hopeful business owners. Premiering in August 2009, "Shark Tank" has seen both dazzling ideas that generate revenue and abysmal misfires. As reported by Cheat Sheet, "Shark Tank" has seen ridiculous concepts like socks that come in threes, electric squirrel deterrents, and even an energy drink that focuses on middle-aged women who want to date younger men. However, for every terrible idea, there is often an equally good one on the table that requires a deal and investment. One such company produces the Cubicall, a self-contained modular construct that is perfect for isolation and privacy and resembles a modern take on phone booths. It appeared on Season 10 of "Shark Tank," before the pandemic, but is the company still in business?
Cubicall had to negotiate to get Shark Tank to bite
Named as a portmanteau of "cubicle" and "call," the Cubicall has a glass enclosure that sequesters those inside from the surrounding environment, which is perfect for people who are concerned about the spread of germs or who need to get away from the sounds of a busy office. With its modular nature, the Cubicall is a solution for offices, homes, and even healthcare. According to the Cubicall website, Cubicalls can be used as phone booths, as enclosed workspaces, for exams, for studying, for partitioning space, and even as isolation pods for healthcare. Needless to say, the Cubicall is a versatile means of controlling indoor space.
Appearing in Episode 22 of Season 10, Cubicall company co-founders Nick Pucci and Anthony Pucci made their pitch to the investors of "Shark Tank." As clarified by Shark Tank Tales, the Puccis originally asked for $350,000 for 10% of the company, which caused several of the "Shark Tank" investors to balk at the offer. However, Barbara Corcoran offered the $350,000 investment for 25% of the company, and the Puccis countered with a 15% equity stake. After some back and forth, Corcoran said she could only get excited about a 25% stake, and the Puccis relented and accepted her deal because no other offers were on the table. With Corcoran's blessing and financial input, Cubicall hit the ground running, but how has the company fared since its appearance on the popular reality television show?
Cubicall suffered a pandemic downturn but is currently on the rebound
During a 2017 interview with CEOCFO Magazine, Michael Pucci, father of Nick and Anthony and co-founder of Cubicall, was asked about the concept and vision of the company, to which he replied, "One of the challenges was taking phone calls with our clients. We were near each other and are very opinionated. While on a phone you would hear sighs, laughs, and whispers of what you should have said. Thus, it became antagonistic more than anything working in an open environment." He continued, "We had to find a solution. We started looking at old phone booths to see if we could buy one. Nothing was available at a reasonable price — not to mention they were hideous."
And the vision is still alive. As reported by Shark Tank Blog, Cubicall saw its profits fall during the initial outbreak of COVID-19, and the company moved its base of operations to Las Vegas. As of June 2021, the company reports generating around $1 million in annual revenue. According to Heavy, the price of the standard-issue Cubicall runs around $6,495, and it contains two built-in USB outlets, a 120-volt outlet, an energy-efficient LED light that turns on when somebody enters, and a fan for circulation. This is the normal model, but the company offers a great deal of customization that can greatly affect the overall cost.
It seems, then, that Cubicall is still in business, and although it initially suffered somewhat of a downturn at the start of the pandemic (like most companies), the company still exists and is on the rebound. Cubicall may get even bigger as things return to normal, but only the future can tell.