ENTREPRENEUR: Gary Gagnon
ASKING FOR: $50k for a 10% stake
BEST PART OF THE PITCH: Gary has created a sneaker with a purpose. His cool, casual sneakers are 100% recyclable. All parts of the shoe can go into the recycling bin for zero landfill impact. He wants the Sharks to be pioneers to help make a change as to how we think about sneakers and green living. Gary has no sales, as the product is only three weeks old.
DO THE SHARKS BITE? Robert says his kids would like the idea of mailing something away so that it can be recycled. He thinks Gary needs way more than $50k to even build the molds for all the different types of sneakers he's offering. He thinks that he could go bankrupt even if he's successful. He's out. Kevin knows there's nothing proprietary about the product. He's out. Mark doesn't believe Gary has thought things through far enough. He's out. Barbara doesn't think the product is unique enough. She's out. That leaves Daymond, who likes the recycling idea. He offers $50k for 80% of the company. Gary counters by asking for $100k for 50% of his company.