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Mike Cherkezian and Justin Barad presented their smartphone control device Chubby Buttons on Shark Tank season 14 episode 17, seeking $250,000 for 8% equity. Their Bluetooth gadget featuring five large buttons demonstrated $1.6 million in total sales across three years, with $500,000 in 2021 and $600,000 in 2022.
The company showed an 80% profit margin through $13 manufacturing costs and $79.99 retail price. During the pitch discussion about market competition, Mark Cuban directly addressed the founders:
"Guys, I'll clear the deck. Look, I think there's a real risk from voice-automated products like Alexa headphones or Google headphones. It's just not a fit for me, so for those reasons, I'm out."
The Shark Tank company founders maintained their $3.125 million valuation position as they proceeded with other potential investors.
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Chubby Buttons leave Shark Tank without any deal in season 14
Cherkezian and Barad opened their Shark Tank presentation by addressing a common problem among outdoor sports enthusiasts. Their solution centered on a device that could be mounted anywhere and control smartphone functions through simple button presses.
The founders backed their pitch with solid numbers, highlighting their debt-free status since inception. During the demonstration, they showed how users could manage music playback, capture photos, and handle incoming calls without touching their phones.
The Sharks paid close attention to the practical applications, especially for winter sports participants who regularly deal with gloved hands. The development of Chubby Buttons began in 2017 when the founders identified gaps in existing smartphone control solutions for active users.
Cherkezian and Barad created a water-resistant device that could withstand harsh outdoor conditions while maintaining reliable Bluetooth connectivity. The five-button interface allowed for multiple command combinations, giving users access to numerous phone functions through intuitive press patterns.
The Shark Tank company founders focused initial marketing efforts on winter sports enthusiasts, specifically targeting skiers and snowboarders who struggled with phone access on slopes. The product's mounting system worked on various surfaces, from ski poles to bike handlebars, increasing its versatility.
Manufacturing processes kept costs low while maintaining quality, allowing for significant profit margins on each unit sold. The team established relationships with reliable suppliers, ensuring consistent production quality and timely delivery to customers.
Mark Cuban was the first to step out, stating voice automation risks. Following Cuban's exit, Kevin O'Leary structured an offer of $250,000 for 10% equity, adding a $20 per unit royalty until he recouped $1 million. The founders expressed concerns about the royalty's impact on their margins.
Robert Herjavec questioned the long-term market potential but made no counter offer. Barbara Corcoran opted out due to distribution concerns. Lori Greiner followed, citing similar market reservations. The founders ultimately decided to walk away from Kevin O'Leary's offer, maintaining their original business structure.
Post Tank developments
After their appearance in season 14 episode 17, Chubby Buttons expanded beyond their initial winter sports focus. The company added new market segments including hikers, bikers, and water sports enthusiasts, per Shark Tank Blog.
Media coverage boosted their visibility, with features appearing in Entrepreneur, Ski Magazine, and Motorcycle Mojo.
The rerun of Chubby Buttons pitch aired in June 2023, three months after its original broadcast. The company's estimated value rose to $3.5 million post-show, with annual revenue reaching approximately $750,000. They maintained their $79.99 price point on Amazon while keeping production costs stable.
The Shark Tank business remained debt-free, continuing their conservative financial management approach. Their product line stayed focused on their core offering, maintaining quality standards and customer satisfaction.
Fans can watch new Shark Tank season 16 episodes on the ABC network. Episode 12 is set to air on March 7, 2025.
