SHARK TANK - EPISODE 405
ENTREPRENEUR: Aly Lessor
PITCH: Cozy Bug
ASKING FOR: $50k for a 25% stake
BEST PART OF THE PITCH: Aly created a children's clothing line that was inspired by her daughter. Her pillowcase dresses grow with kids thanks to the way that they are designed. The dresses are tied with ribbons that allow for growth. Eventually the kids will sprout so high that the dress becomes more like a top to be worn with shorts or leggings. She also sells matching hair bows. She wants the sharks to help her pillowcase the world. It costs her $6 to make a dress. In just 30 days, they sold over $300k worth of dresses online. Aly also has a dancewear line called "Dance Bug."
DO THE SHARKS BITE? The sharks have various opinions on how Aly should grow her business. Mark thinks she's going too wide with her product, so he's out. Robert can't really offer her any expertise, so he's out, too. Kevin offers Aly $50k for 0% equity, but wants $2 per dress up to $50k and then $1 per dress in perpetuity. He also wants her to make hair bows and pillowcase dresses only. Lori offers the $50k for a 30% stake in the company and the hope to make her a millionaire with this line. Daymond matches Lori's offer and promises his expertise is more valuable. Aly needs to make a decision.
THE RESULT Aly weighs her options and questions the sharks about what they would do with her product. Lori writes a check for Aly right there in the tank. She also threatens to take away her offer. This has Aly swimming in Daymond's direction to make a deal with him. Together they are off to pillowcase the world!
Update: Games2U
Brothers David and Stu turned down an offer from Kevin O'Leary because he wanted 51% of their company which brings games and entertainment to children's parties and events. Still, their appearance in the tank gave them great exposure. They were bombarded with calls and emails from international investors. They are now in seven different countries. They went from of $4 million a year to $9 million annually. They are on their way to $20 million. Let the games begin!
