SHARK TANK - EPISODE 311
ENTREPRENEUR: Dallas Robinson and Mike Buonomo
ASKING FOR: $200k for a 20% stake
BEST PART OF THE PITCH: Kisstixx is a high quality lip balm that comes in two compatible flavors, one for you and one for your partner. When you kiss, these two flavors come together to create a chemistry reaction that bursts with flavor and aroma. They have flavors like Strawberry Daiquiri and Pina Colada that combine to create a Miami Vice flavor just like the drink. Dallas and Mike brought a kissing booth with them where Barbara is coerced into planting a wet one on Mr. Wonderful, Kevin O'Leary. This onstage smooch gets a huge reaction from the other Sharks. The guys have had $80,000 in sales in about a year. Walgreens wants to order $540,000 of their product for a Valentine's Day promotion.
DO THE SHARKS BITE? The Sharks are impressed with the product. Mark thinks it's cool that they are also planning to roll out breath spray and gum. Barbara, however, may still be feeling the aftershocks of kissing Kevin. Her gut tells to bail. She's out. Kevin doesn't believe the company is worth the value they are giving it. He's out. Mark also thinks the evaluation is too high. He offers them $200k for a 40% stake. That's a better offer than Daymond and Robert would have made.
THE RESULT: With only one offer on the table, Dallas and Mike partner up with Mark. They didn't get what they were originally asking, but they did manage to get Kevin and Barbara to kiss as part of their lip-smacking good presentation.