SHARK TANK - EPISODE 311
ENTREPRENEUR: Dallas Robinson and Mike Buonomo
PITCH: Kisstixx
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.
Update:Daisy Cakes
Kim Nelson makes her Daisy Cakes from scratch using family recipes. She packs them in dry ice and ships them nationwide. She partnered with Barbara who asked for a dollar for every cake sold until she got her moneyback. The business took off. They are now averaging $100,000 in sales per month. Kim moved from her small kitchen to a huge bakery. She ships her cakes all over the country and even to the North Pole. It's a shark tale of sweet success.
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