ENTREPRENEURS: Jessica Haynes
PITCH: Jeska Shoe Company
ASKING FOR: $70k for an 30% stake
BEST PART OF THE PITCH: Jessica has created a product that allows women to change the look of their shoes as easily and as often as they change their minds. Her shoe can change from a stiletto to a wedge with a simple push and snap. With hidden magnetic components and a built-in mechanism for interchanging heels, the product can be continually updated and changed. She's still in the prototype phase. Jessica gets choked up when she reveals that her parents helped her with money to fund this venture.
DO THE SHARKS BITE?Kevin says shoe companies are not looking to reduce the number of shoes they sell. Robert wonders if the reason that other products like this out there is because women like changing shoes. Kevin doesn't believe Jessica has a plan, so he's out. Mark doesn't know much about this world, so he's out. Barbara thinks the people who can afford to buy her shoes can probably afford more than one pair. She's out. Robert can't see this business being a success, but he believes Jessica will be a success in perhaps another venture. He's out. That leaves Daymond.
THE RESULT: Daymond believes Jessica has a lot of courage. He's willing to gamble on her with an offer he admits stinks. Daymond offers $70k for 70% of the company because he feels that he has to work for her. He's basically investing in her. Jessica believes that even though she's giving up a lot of her company, it's worth it to have a partner like Daymond. They have a deal.