SHARK TANK - EPISODE 310
ENTREPRENEUR: Dave Mayer
PITCH: Clean Bottle
ASKING FOR: $60k for a 5% stake
BEST PART OF THE PITCH: The Clean Bottle is a water container that unscrews from the bottom as well as the top for ease of cleaning. Dave launched the product about a year ago without a lot of market money. He had to get creative. Someone dressed in a giant Clean Bottle outfit jogged along the side of the road during the Tour de France. Dave has had $750,000 in sales since the race. Inside the giant Clean Bottle which Dave brings into the tank is two-time NBA champ Bill Walton, who loves the product. But will it be a slam dunk with the Sharks?
DO THE SHARKS BITE? Daymond thinks Dave is smart, slick and greedy. So he can't wait to be his partner. He wants 25% equity. Kevin offers $100k with no equity, but he wants 50 cents for every bottle sold in perpetuity. Barbara is offended by the 5% offer, but Dave wonders if she would have taken 5% of Facebook. Good point. Robert offers $60k for 10% but goes down to 5% when Mark offers 8%. This has Daymond and Barbara saying they are out. It's time for Dave to make a decision.
THE RESULT: Robert is prepared to give the entrepreneur exactly what he asked for, but Dave seems to want to do business with Mark. He asks him to go down to 6%. This has Robert feeling ignored, so he's out. Dave makes a quick call to his dad who says he can't be afraid to walk away from the deal. He wants 7%, but Mark won't budge from 8%. At the end of the negation, Dave takes the deal. Mark says, "I'm a lean, mean Clean Bottle machine."