EPISODE 11
ENTREPRENEUR: Jeff Wolsky
PITCH: The Bobble Place, producer of custom-made bobbleheads.
ASKING FOR: $75,000k for an 18% stake.
BEST PART OF THE PITCH: Jeff can make custom-made bobbleheads from photos provided by the client. He even brings in some sample bobbleheads of the sharks. All the heads bobble, but only the likeness of Kevin O. is seen holding a handful of cash. Jeff has an existing online business and wants to launch a separate company to set up retail kiosk locations in shopping malls.
DO THE SHARKS BITE? Jeff appears to be hiding the fact that he has an existing online business that makes seven figures. Several sharks want a piece of that action before investing in this new business. Kevin H., Daymond and Barbara are out right away. Kevin O. offers Jeff the $75k for an 18% stake in his existing business. He also forbids him from any more mall talk, as he thinks it's more important to see the already successful business grow. Jeff says he doesn't need the money for his existing company and declines the offer. Kevin O. then offers $100k for 20% and Robert offers $125k for 20%. Jeff counters by saying he'll accept both offers, but Robert and Kevin O. only get 10% each.
RESULT: Jeff is asked to leave the room while Robert and Kevin O. chat. They realize that Jeff doubled the price once Robert got involved. They call Jeff back and offer $100k for 20%. Jeff declines and Robert goes back to his original offer. That's still not good enough for Jeff, who offers 7% for 100k. Robert thinks this relationship is a little too complicated and he's out. The sharks do get to keep the bobbleheads though.
WANT TO KNOW MORE: Visit www.webobble.com.
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