In the end, Busy Baby decided to swim on its own.
The Oronoco, Minnesota-based startup, which makes silicone placemats and toys for teething babies, was one of the companies pitching to investors on Friday's episode of ABC's reality television show "Shark Tank." Business Journal sister publication Minne Inno profiled the company ahead of its appearance last week.
But founder Beth Fynbo eventually walked away from the table without a deal, the Star Tribune reports. Fynbo had sought $250,000 from the show's panel of investors in exchange for a 5% ownership stake. One of the "sharks" was interested, but wanted at least 18% of the business.
Fynbo, whose business recorded $900,000 in sales last year, said she hopes to license the products out to another company and didn't want to surrender too much control, she told the paper.
Even without an investment, an appearance on the show is often good for sales; Busy Baby did as much business over the weekend as it usually does in six weeks, Fynbo said.
