ENTREPRENEUR: David Powers & Scott Tindel
PITCH: TIE TRY
ASKING FOR: $100k for a 25% stake
BEST PART OF THE PITCH: The business is essentially Netflix for neckties. David and Scott are attorneys who were always wearing the same tie over and over. They launched a service that delivers an unlimited number of neckties to a subscriber's doorstep for a low monthly price. Their customers can wear hundreds of different neckties. They have over 100 subscribers as part of their proof of concept plan.
DO THE SHARKS BITE? Mark doesn't believe these guys can sustain the business with the free press they've been using. He's also worried about the number of people who will cancel their subscription. Robert agrees that they don't have enough of a subscriber base yet. He's out. Kevin offers to put up $50k if they can convince another shark to come onboard. That second shark will also set the equity amount. That second shark won't be Barbara or Daymond, as they are both out. Now there's just one shark left and he never wears a tie. Mark believes the guys are guessing as to how the business will work. He's out. That means Kevin is, too. The tie guys will have to TieTry to find someone to help them tie up a deal.