ENTREPRENEUR: Shelly Ehler
PITCH: Show No
ASKING FOR: $50k for a 25% stake
BEST PART OF THE PITCH: Shelly brings her sons Max and Clark into shark-infested waters to help demonstrate Show No. It's a towel that is designed like a poncho so that people can change out of their wet bathing suits without anyone seeing. Shelly has her boys hand out custom-made towels to the Sharks. She patented the product and had the idea to showcase it at water parks. She has accounts with LegoLand and Six Flags Magic Mountain in California, but she only has $15,000 in sales.
DO THE SHARKS BITE? Kevin sees this as a seasonal business. He doesn't find that attractive as an investor, so he's out. Robert loves Shelly's passion. He's not as excited about the product as he is about her. He's out. Mark worries that Shelly may not be able to make a big meeting because she's a family woman. Shelly counters with the declaration that she has the full support of her family. Daymond offers $50,000 for a 50% stake. Lori likes Shelley so much that she writes her a check right there for the $50,000 for a 25% stake. Daymond counters by lowering his equity to 20%. Then Mark jumps in with a $75,000 offer with a 25% stake. Daymond and Lori also go up to $75k.
THE RESULT: Shelly steps out to have a chat with her husband as the Sharks have an intense discussion amongst themselves. When Shelly returns, she follows her heart to strike a deal with Lori. Outside of the tank, Shelly may need to use her towels to dry the tears of joy she shares with her family.
Update: Notehall
In Season One, D.J. Stephan & Sean Conway made a deal with Barbara for their Notehall website that allows college students to buy and sell class notes and study guides. After leaving the tank, they got a call from Chegg, the number one textbook rental company in the country. They bought Notehall from the guys to make them instant millionaires. Chegg also gave them jobs. Guess it really does pay to go to college.
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