Lugbug Net Worth 2024: A New Invention For Baby Carrier

Families, who deal with a young child, are aware of the discomfort the kids get sitting in the child’s seat of the car. Both the wrist twisting and the sensation of the car seat rubbing against the carrier’s knees can cause distress to the kid. Although many people dislike these qualities, one person, in particular, took an active role to try and find a solution.

Let’s know about the person and his initiative, about his product.

Quick Facts

Founders name:	Nathan Day
Business details:	Baby seat carrier handles
Founded in:	2015
Location :	Scottsdale, Arizona, US
Asking of Company:	$300,000 for 10% equity
Accepted Deals:	No Deal
Shark on board (Investors):	None
Shark Tank Episode:	Season 10 Episode 02
Net Worth	$3 million
Business Status:	Active
Last Updated:	Feb 23, 2024
Social Media	Instagram Facebook

About the Founder

Nathan Day discovered this traditional infant carrier which featured grips that were not intended to be used in the hand’s most comfortable and natural posture. He created the LugBug to solve that issue. 

Day appeared in Shark Tank to launch the product, was it fruitful and was approved by the Sharks?

Founding the Lugbug 

Lugbug was launched in October 2015. It is a foldable, lightweight handle that connects to an infant safety seat to give parents the freedom to grip the harness while maintaining their hands in a secure location. Only 12.6 ounces of capacity are added to the carrier’s weight by the LugBug.

The idea for this invention came to Nathan Day after the car seat smacked his lower extremity from behind as he was carrying his youngest child, dislocating his shoulder. Day was advised to look for healthcare after the incident because it was reported that the impact had practically twisted his arm and wrist into a bizarre position. To prevent this occurrence from happening again in the future, he was now driven to find a solution.

Day had devoted a lot of time to researching the ergonomics of the amount of stress that comes from lugging a car seat and LugBug entered the picture at that point.

Shark Tank Appearance 

Nathan Day debuted on Shark Tank in 2018, Episode 2 of Season 10, requesting $300,000 for 10% of the value of his Lugbug infant seat backpack adapter.

Although Nathan hasn’t worked out how to promote it in a manner that others can comprehend, he still believes it is a fantastic idea.

Barbara Corcoran acknowledges that Nathan is an excellent salesperson, but she questions his judgment in investing $750K on the item and going out to obtain patents before making sales.

Two Sharks, Kevin O’Leary and Mark Cuban query whether there is genuine demand for the product. He is intrigued by the patents but not by revenues. Lori Greiner claimed the product to be a clever idea but rejected investing as she thought it would be more beneficial to propose to a registered car seat firm.

Only Robert Herjavec adorned the beautiful model. He disagrees with Kevin and respects Nathan’s route to the market. He doesn’t see a need for the device because he always carries baby seats. He cannot purchase the firm if he is unable to purchase the product.

After Shark Tank 

The Sharks abandoned the ship from Nathan’s LugBug because they agreed with the concept but not the commercial sense. The amount invested was too substantial for the sharks to consider, yet the business still has an equity stake of more than USD 1 million.