ENTREPRENEURS: Steve Maloney and Steven Kirkpatrick
PITCH: Muddy Water Camo
ASKING FOR: $150k for a 5% stake
BEST PART OF THE PITCH: Steve believes they have created a new kind of camouflage that he feels will revolutionize the hunting industry. Steven has been a professional wildlife photographer for over 30 years. He knows how important proper camouflage is in his line of work. The guys teamed up to create a product that helps them truly become part of the great outdoors. They have $150k in sales so far in the year.
DO THE SHARKS BITE? All the sharks have trouble with the evaluation of the company. Robert doesn't believe it's worth $3 million so he's out. Lori and Daymond follow his lead. Mark doesn't like the fact that there are other investors involved. He's out. Kevin thinks the guys need to license their product. He'll give them $150k for a 20% stake.
THE RESULT: Steve says they aren't going to take an evaluation lower than what they already have. This has Kevin saying he's out, too. The duck-hunting duo thinks the sharks are birdbrains for not investing in their company.
Update: Liquid Money
In Season Three, Pat McCarthy turned down an offer from Daymond John for his fragrance line that actually smells like money. Since his appearance in the tank, the Venetian in Vegas called to give Pat the largest order he's ever had. Sales ballooned to a million bucks in just nine months. That's the sweet smell of success.