ENTREPRENEUR: Marvin Philip
PITCH: Lifter Hamper
ASKING FOR: $85k for a 12% stake
BEST PART OF THE PITCH: Marvin was drafted by the Pittsburgh Steelers in 2006. He suffered a back injury in his third year that put him out of the game for the rest of the season. The pain in his back gave him the idea to create a hamper with bungee spring-loaded liner that drops when heavy clothes go in, but then springs back up when you take them out. You never have to bend over to lift your clothes out of the hamper. Marvin has been in business for about six months. He hasn't hit the market yet but has contracts with two big rep firms. He thinks the product will benefit others with back pain.
DO THE SHARKS BITE? Lori thinks the product is cool, but thinks it may be tough to transport. Kevin believes the value of the company is too high. Mark likes the product, but doesn't think he can be of any benefit to Marvin. He's out. Robert thinks he has a long way to go. He needs to go out and sell some. He's out. Lori believes Marvin is only halfway there. She's out with her money, but says Marvin can give her a call when he gets further down the road. Kevin and Daymond go out, too. Marvin will have clean up without a shark by his side.
