ENTREPRENEUR: Kwami Kuadey, from Ellicott City, Maryland.
PITCH: Gift Card Rescue, a web-based company that buys back and sells some of the 10% of all unused gift cards each year in the U.S.
ASKING FOR: $150K for a 30% stake in his business.
BEST PART OF HIS PITCH: With very little marketing, Kwami is on track to sell 120,000 gift cards this year alone.
THE SHARKS BITE WHEN: He reveals that he was contacted by Amazon with a partnership deal. Kevin O'Leary offers the $150K for 50% of the business, but wants a 5% royalty since it's a startup. Robert says Kwami is the real deal, and partners with Kevin and ups the cash to $200K.
RESULT: Kwami accepts Robert and Kevin's offer.
WANT TO KNOW MORE: Visit www.giftcardrescue.com/.
ENTREPRENEUR: Gina Catroneo, from Dallas, Texas.
PITCH: Souls Calling, Inc., a company that makes inspirational gifts and accessories such as colorful umbrellas and sandals that leave messages in the sand. She wants to grow her business.
ASKING FOR: $150K for a 25% stake in the business.
BEST PART OF HER PITCH: Gina, who survived an attack in Dallas a decade prior, wows the Sharks with her story. Additionally, her sandals, which leave words like "Earth" and "love" in the sand are pretty cool!
DO THE SHARKS BITE? No. Unfortunately, Gina only turned a combined profit of $29K in the past two years. They all tell her she's a great person, but the business isn't working. In the end, they advise her to find something else to go into business with.
WANT TO KNOW MORE: Visit www.soulscalling.com/.
ENTREPRENEUR: Dan Claffey
PITCH: Coffee Brand Gifts, holds trademarks for the words "Coffee," "Cappuccino," "Java" and other highly-caffeinated words for use on plush toys.
ASKING FOR: $300K for 40% equity.
THE PITCH GOES SOUTH WHEN: Dan reveals that he doesn't have any sales. The Sharks are frustrated because he's asking for them to invest in a business and he doesn't even have a single order.
DO THE SHARKS BITE? No. The Sharks think Dan is going about things backwards. Dan didn't want to get orders and promise delivery until he had the capital to get it done. The Sharks think that's Un-American. Everyone is out.
WANT TO KNOW MORE: Visit www.coffeebrandgifts.com/.
ENTREPRENEUR: Paul Watts, from Sacramento, California.
PITCH: Graffiti Removal Services, a mobile service he wants to franchise and get into every city.
ASKING FOR: $350K for a 15% stake in his business.
HIS PITCH SEEMS SHAKY WHEN: So far he's only in Sacramento, as he only got his franchise license a month prior. And while he uses excellent proprietary products to remove graffiti, he didn't invent them.
DO THE SHARKS BITE? Yes. He still managed to net $75K off the $230K his company earned so far. Robert offers the $350K but wants 75% of the business. Kevin O'Leary goes in on the deal, and suggests that Paul would simply be an employee of theirs.
RESULT: Paul turns them down, and Kevin says "You're dead to me if you turn around." Which he does, walking out and away from the deal.
WANT TO KNOW MORE: Visit http://www.removegraffiti.net/.
ENTREPRENEURS: Amy Feldman and Allison Costa.
PITCH: Coverplay, the first and only slip cover for children's travel play yards. Their existing accounts have told them they need more product awareness.
ASKING FOR: $350K for a 15% stake in their business.
THE BEST PART OF THEIR PITCH: These all-around fun gals already have distribution and two patents.
THE SHARKS BITE WHEN: They reveal that they're on shelves in Target, as well as available in Marriott, Hilton and Best Western hotels and Carnival and Caribbean cruise lines. Barbara first offers the $350K for 40% of the business, but says the money is to be used for development of the product, not for salaries, vacations or worker promotions. Daymond offers the same amount, but wants 65% of the business. His deal, however, says that the money is to go toward the manufacturing, and that he'll finance all manufacturing for the existence of the company, and they'll have access to his warehouses, trucking and billing. Robert and Kevin O"Leary suddenly go in with Daymond on the deal, but the girls are leaning toward Barbara, so the guys lower their percentage stake to 51%.
RESULT: In the end, Amy and Allison still decide to partner up with Barbara.
WANT TO KNOW MORE: Visit http://www.coverplayard.com/.
UPDATE:Barbara Corcoran's investment in Allison Costa and Amy Feldman's childcare product company, Coverplay, has been lucrative. Amy and Allison are in final negotiations with a worldwide hotel chain interested in carrying their product.