ENTREPRENEUR: Tom Callahan
ASKING FOR: $200k for a 20% stake
BEST PART OF THE PITCH: Tom says Cab20 is the brainchild of 18-year-old music prodigy Bert Hoover. Cab20 is a band that performs a song right there in the tank. They group is very good, but the deal Tom seeks does not include any publishing rights. Mark says the music business is the worst business on the planet, so he's out. Daymond had a bad experience in the music business, so he's out. Barbara likes the group, but she doesn't buy into Tom.
DO THE SHARKS BITE? Kevin likes the band, so he has an offer. He'll give them $200k for 50% of EVERYTHING. Tom says he'll go to 40% for 300k. Robert says he'll partner with Kevin. Tom and the band want $250k. That offer is rejected. Kevin and Robert won't budge, but neither will Tom. Looks like the band will have to rock on with a shark by its side.