ENTERPRENEUR: Ben Wood
ASKING FOR: $500k for a 20% stake
BEST PART OF THE PITCH: Viewsport's sweat-activated technology which is built into the fabric of t-shirts so that when you sweat, a secret logo appears in the shirt. It's motivation through perspiration. To date, Ben's done $140k in sales with 80% of that being done within the past three months. He also invented the technology which is patent-pending. Additioanlly, he is so dedicated to making this work he quit medical school to work on this venture full time. At this point, he has a company that's interested in a licensing deal and also has a deal with the U.S. Naval Academy, too.
DO THE SHARKS BITE? Daymond believes Ben wants him to work for the money he'd be giving him, so he's out. Mark agrees that he strategized incorrectly in his evaluation of the company. Kevin likes the idea, but shares Mark's sentiment on his strategy. He's out, too. Barbara is out because she feels the product is terrible. She's out. Robert also feels the product is too gimmicky. He's out. Looks like Ben will have convince other investors to break a sweat for his product.