The Bouqs Shark Tank Update | From Rejection to $100M+ Success Story
Back in 2014, two guys walked into the Shark Tank with an idea
John Tabis and Juan Pablo Montúfar wanted to shake up the flower industry
But let’s get real — this wasn’t a normal “we have a better product” pitch
These guys were going after the entire flower supply chain
First Look Numbers:
- Initial ask: $258k for 3%
- Company valuation: $8.6M
- Revenue at pitch: $2M
- Net profit: Negative
The Robert Herjavec Love Story
This is where it gets interesting
2017 — Robert’s planning his wedding
He needs flowers (lots of them)
His team recommends The Bouqs
What happened next:
- Orders wedding flowers
- Service blows him away
- Calls John Tabis
- Makes investment deal
- Joins advisory board
Show Me The Money: Growth Stats
Let’s talk real numbers:
Revenue Journey:
- 2014: $2M
- 2015: $12M
- 2016: $43M
- 2017: $60M
- 2018: $80M
- 2019: $90M
- 2020: $100M+
The Bouqs Net Worth: How Big Are They Now?
As of 2024, The Bouqs is thriving:
- Estimated to be worth $150 million.
- Handles over 30 million deliveries annually.
- Maintains partnerships with farms in Ecuador and beyond, ensuring sustainable practices.
This financial success is a testament to the founders’ grit and innovation.
The Bouqs Shark Tank Update: A Story of Purpose, Persistence, and Progress
In the business world, we love a good story. Especially one that starts with rejection but ends with triumph.
The Bouqs Company, a flower delivery service that prioritised sustainability and fresh connections, embodies this perfectly.
Why did The Bouqs succeed when so many others fail? It’s not just about what they sell. It’s about why they exist.
Their journey, including a high-profile rejection on Shark Tank, is a lesson in purpose-driven business and the resilience it takes to lead with clarity and vision.
Starting With “Why”: The Bouqs’ Purpose
When John Tabis and Juan Pablo Montúfar started The Bouqs in 2012, they didn’t set out to simply sell flowers.
They had a deeper mission:
- Why: To create meaningful connections while reducing waste and promoting sustainability.
- How: By working directly with eco-friendly farms to cut out middlemen and deliver fresher flowers at a fair price.
- What: A flower delivery service that’s as beautiful in its process as it is in its product.
It was a bold stance in a crowded, traditional industry. The floral market was saturated with outdated practices and impersonal transactions.
The Bouqs decided they wouldn’t just play the game — they’d change the rules entirely.
The Shark Tank Rejection: An Opportunity Disguised as a Setback
In Season 5, Episode 21 in 2014, John Tabis stepped into the Shark Tank to pitch The Bouqs. Armed with stats, passion, and a clear vision, he hoped to convince the Sharks to invest.
The Pitch
John highlighted the inefficiencies of the traditional floral industry and how The Bouqs’ direct-from-farm approach solved these problems. By eliminating middlemen and focusing on sustainability, they could offer fresher flowers at competitive prices.
The numbers were promising:
- Revenue: $700,000 in the first year.
- Seeeking : $258K for 3%
- Margins: Strong, thanks to their direct sourcing model.
- Customer Base: Growing steadily through word-of-mouth and online marketing.
The Sharks’ Reactions
Mark Cuban:
“I love the idea, but scaling this is going to be a nightmare.”
- Mark appreciated the innovation behind the direct-from-farm model but had doubts about whether The Bouqs could handle the logistical challenges of scaling a flower delivery business.
- He saw potential in the concept but believed the infrastructure needed to grow the business would be too complex and costly.
Kevin O’Leary (Mr. Wonderful):
“Flowers are a commoditised business. The margins just aren’t compelling.”
- Kevin viewed the floral market as too crowded and competitive, with major players like 1–800-Flowers already dominating.
- He didn’t see enough profit potential in The Bouqs’ margins to justify an investment.
Barbara Corcoran:
“I don’t think you’re ready for the logistical challenges of high-volume delivery.”
- Barbara expressed concerns about whether The Bouqs could deliver on their promise at scale.
- She doubted their ability to manage supply chain logistics, particularly when dealing with perishable goods like flowers.
Robert Herjavec:
- Robert appreciated the company’s mission and execution but ultimately decided not to invest during the pitch.
- He didn’t provide detailed criticism at the time, but his interest in the brand later led him to invest $1.1 million after becoming a customer in 2016.
The Sharks agreed on one thing: the idea had merit. But they still said no.
It wasn’t the rejection itself that defined The Bouqs. It was their response.
John and Juan didn’t waver in their belief that they were building something important. They understood that rejection isn’t personal when you’re driven by purpose.
Post-Shark Tank Growth: Scaling to Success
The Bouqs didn’t just survive after Shark Tank — they thrived. Here’s how they turned their idea into a floral empire:
1. Strategic Funding
Beyond Robert Herjavec’s investment, The Bouqs secured over $55 million in additional funding. These investments allowed them to:
- Expand their infrastructure.
- Improve their technology.
- Boost marketing to reach a wider audience.
2. Tech-Driven Innovations
The Bouqs embraced technology to streamline their operations:
- Developed a mobile app for easy ordering.
- Introduced AI-based inventory management to optimise deliveries.
- Launched a subscription model for recurring customers.
3. Expanding Services
The Bouqs didn’t limit themselves to standard flower deliveries. They branched out into:
- Wedding Flowers: Customisable packages for couples.
- Corporate Gifting: Partnerships with businesses for branded floral gifts.
- Holiday Specials: Limited-time offerings for Valentine’s Day, Mother’s Day, and more.
4. Building Partnerships
Collaborating with big names like Costco and Whole Foods helped The Bouqs reach millions of new customers.
Scaling With Purpose: The Bouqs’ Rise
After Shark Tank, The Bouqs leveraged their rejection, exposure, and eventual investment to drive meaningful growth.
1. Building on Their Why
They didn’t chase flashy trends or abandon their mission. They doubled down on what made them unique: sustainability, freshness, and transparency.
2. Innovating With Intention
The Bouqs introduced:
- Cut-to-order bouquets: Ensuring freshness and reducing waste.
- Subscription services: Building loyalty and making gifting easier.
- Wedding and corporate packages: Expanding into high-value markets without compromising their values.
3. Attracting Aligned Partners
Their mission resonated with investors and partners alike. They secured over $55 million in funding and partnered with big names like Costco.
When your purpose is clear, people know why they should follow you.
What Sets The Bouqs Apart?
In a crowded industry, The Bouqs has carved out a unique niche by focusing on:
Sustainability
Partnering with eco-friendly farms to reduce waste and carbon emissions.
Transparency
No hidden fees
What you see is what you pay.
Cut-to-Order Freshness
Flowers are cut only when an order is placed, ensuring maximum freshness.
Tech-Enhanced Experience
From an intuitive app to seamless logistics, The Bouqs prioritises convenience.
Lessons From The Bouqs: Why Their Story Matters
When we talk about businesses like The Bouqs, we’re not just talking about flowers. We’re talking about how businesses can lead with clarity and purpose.
Here are three key lessons we can all learn from their journey:
1. Clarity of Purpose is Everything
When you start with why, you build something bigger than a business. You build trust, loyalty, and connection.
The Bouqs didn’t just sell flowers. They stood for sustainability and transparency in an industry that needed it.
2. Rejection is Feedback, Not Failure
The Sharks’ rejection didn’t stop The Bouqs because their mission was bigger than one pitch. They used feedback to refine their approach, proving that resilience isn’t just about persistence — it’s about adaptability.
3. Leadership is About Belief
The Bouqs thrived because John Tabis and Juan Pablo Montúfar believed in their mission. That belief attracted customers, investors, and partners who aligned with their vision.
Lessons from The Bouqs and Everlywell
The Bouqs isn’t the only Shark Tank alumni to find success after rejection.
Everlywell, known for its at-home health testing kits, faced similar hurdles but now boasts a valuation of over $300 million.
Both brands prove that you don’t need a Shark Tank deal to thrive. What matters is capitalising on exposure and staying true to your mission.
Final Takeaways
While The Bouqs didn’t secure a deal on Shark Tank, their appearance boosted brand awareness significantly. More importantly, their persistence and clear mission eventually won over Robert Herjavec, proving that a “no” in the Tank isn’t the end of the journey.
Their Shark Tank experience shows that success isn’t about the moment — it’s about how you build on it.
FAQs About The Bouqs
Why didn’t The Bouqs get a deal on Shark Tank?
The Sharks were sceptical about scalability and competition in the floral market.
How did Robert Herjavec become an investor?
Robert became a Bouqs customer while planning his wedding and was so impressed that he invested $1.1 million in the company.
What is The Bouqs’ net worth today?
The company is valued at approximately $150 million as of 2024.
What makes The Bouqs different from competitors?
Their direct-from-farm model prioritises sustainability, freshness, and transparency.
Is The Bouqs still growing?
Yes, with millions of deliveries annually and a strong commitment to their mission, The Bouqs continues to expand globally.
