Millions of women experience breast pain when exercising without proper support. To address this issue, Kimberly Cayce founded a company called Kalyx Technologies, which sells sports bras that can comfortably attach to a woman’s body.
In Shark Tank Season 1, she asked the Sharks for $125k for a 20% stake in her company. Did the Sharks invest in her business or not? Is her business still running? Let’s find out.
| Company Name | Kalyx Technologies | |
| Founder/Co-Founder | Kimberly Cayce | |
| Founded | 2008 | |
| Product | Collection of Sports Bras | |
| Asked For | $125K for 20% equity | |
| Final Deal | No Deals | |
| Shark | No Sharks | |
| Episode | S1 E6 | |
| Air Date | Sep 13th, 2009 | |
| Business Status | Acquired by ActivewearUSA | |
| Website | Visit Website | |
| Headquarters | Washington, District of Columbia, United States | |
| Lifetime Sales | $0M *estimated | |
| Buy and Watch | Buy Now | Amazon Prime |
Business Pitch Episode Recap
Kimberly revealed that she invested $100,000 of her own savings in her business. Currently, 250 women are waiting to buy her product.
The sports bra industry has five big brands: Nike, Champion, Adidas, Under Armour, and Brooks. It’s a huge market, but there’s also a lot of competition. The shocking thing is that she hasn’t patented the product design yet.
She needs investment so that she can invest most of it in product manufacturing. Kevin Harrington declined to invest because of the intense competition in the sports bra industry.
Barbara Corcoran believes that if she invests in this business, it will take more than 5 years to get her money back, so she declined.
Daymond John said that this business is too early for him, so he is out. Robert Herjavec mentioned the intense competition in the industry, so he also out. Kevin O’Leary stated that the world doesn’t need this sports bra, so he is out as well.
All five Sharks declined to invest in the company, so Kimberly had to leave without an investment.
Sharks Offers list!
| Sharks | Offers |
|---|---|
| Kevin Harrington | No Offer |
| Kevin O’Leary | No Offer |
| Robert Herjavec | No Offer |
| Barbara Corcoran | No Offer |
| Daymond John | No Offer |
| Founder’s (Countered) | No Counter |
| Final Deals | No Deals |
Kalyx Technologies Shark Tank Update
Kimberly believed she could compete with big brands like Nike, Champion, and Adidas, but she lacked enough capital for marketing. Despite selling thousands of sports bras after Shark Tank, it wasn’t sufficient to grow her business.
Our research revealed that in 2012, Avi Woolman’s company, ActivewearUSA, acquired Kalyx Technologies. However, ActivewearUSA also shut down in 2015. Kimberly is currently focusing on her marketing career.
Do you want a progress report, recap, and update on businesses that appeared on Shark Tank Season 1? We’ve shared some useful links below for you to explore.
