ENTREPRENEUR: Tereson Dupuy
ASKING FOR: $500k for a 15% stake
BEST PART OF THE PITCH: Tereson has created 100% reusable diaper product. It's easy to use and easy to wash at home. It's a pocket-style diaper that holds a microfiber pad. The lining keeps the diaper dry. She even has a creative way to dispose of any poo-poo. She's been doing this for 12 years and had $3.9 million in sales last year. She's sold $24 million with no advertising over the Internet. The bad news is that she only made $20,000 profit on that $3.9 million last year. She's had manufacturing issues where her former distributor stole her patented idea. Others are squatting on her business by breaching her patent.
DO THE SHARKS BITE? Kevin wants to sue all these people who have ripped her off. Mark doesn't want to be in the pooper-scooper business to clean up this mess, so he's out. Barbara doesn't trust Tereson's judgment, so she's out. Daymond also can't invest. Robert also doesn't want to invest in a business that isn't on an upswing. He's out. Kevin admires Tereson's tenacity, but he doesn't want to join her on this ride. He's out, too. Hopefully, Tereson will someday get revenge on all those people who poo-pooed on her business by stealing her idea.