ENTREPRENEUR: Stephan Aarstol
PITCH: Tower Paddle Boards
ASKING FOR: $150k for a 10% stake
BEST PART OF THE PITCH: Stephan says that stand-up paddle boarding is the next wave of beach, lake and river entertainment. He stumbles a bit during the initial part of his presentation, but gathers himself together to let the sharks know that he's sold $100,000 worth of paddle boards in four months. He's selling a board valued at $1,200 for only $600. One hour of standup paddle boarding is the health equivalent of eight hours of surfing. He does direct sales through the Internet.
DO THE SHARKS BITE? Kevin wants to know why he doesn't create his own paddle board and do his own direct marketing on the Internet. He wants something proprietary about the product. Barbara has some harsh words for Stephan before heading out. Robert thinks he is valuing his company too high. He's out. Daymond goes out, too. Kevin offers Stephan $150k for a 50% stake and a 10% royalty for the products he creates. He's basically offering to become his banker.
THE RESULT: Stephan cannot accept Kevin's offer, so Mr. Wonderful is out. That leaves Mark to offer $150k for a 30% stake and the first right of refusal on future businesses. This has Kevin offering the same deal but at 25%. But at the end of the negotiation, Stephan opts to partner with Mark. His paddle board pitch got off to a bumpy start, but it was smooth sailing in the end.
Rick Hopper created an eye-glass holder the using magnetic back plates to hold everything in place. He made a deal with Lori who promised to make him a millionaire. She got his product on QVC. They sold 5,000 sets in minutes which equates to $100k in sales. Rick better find his eyeglasses fast so he can see all the dollar signs in his future.
ENTREPRENEUR: Nick & Penilopee Larosa
PITCH: Instant Lifts
ASKING FOR: $100k for a 25% stake
BEST PART OF THE PITCH: Nick and Penilopee feel they have solved the problem of cellulite and sagging skin for women. Their product is a clear adhesive that lifts and repositions the skin to make everything look firm and tight. They have a formula and design that allows the lifts to last 12-15 hours per day. They've done $75,000 in sales over the past five months
DO THE SHARKS BITE? The Sharks are surprised to learn that Nick and Penilopee are only selling the one product even though they have others with different patents on similar products. Daymond is out immediately. Mark knows that since they have other products out there, they wouldn't be able to work a hundred percent on the one in which he'd be funding. There's too much confusion for him, so he's out. Kevin, too. Robert is also very confused. He's out. Barbara can see women wearing this product, but the value of the company isn't worth the investment. She's out. The idea of Instant Lifts just didn't stick with the Sharks.
LEARN MORE: Visit http://www.instantlifts.com
ENTREPRENEUR: Gary DeJohn
ASKING FOR: $75k for a 30% stake
BEST PART OF THE PITCH: Gary has developed a product that he says revolutionizes the way we serve wine worldwide. His creation sits neatly atop any wine glass. As you pour the wine through the strainer and over the ball, it exposes the drink to the most amount of surface air possible to allow the wine to breathe. He's sold a thousand of them for $40 at a cost of $20 to make. Kevin says there are a lot of aerators out in the market and he owns them all. He wants to know what the difference is with this one. Gary says his design helps measure the glass of wine which is important in a restaurant scenario.
DO THE SHARKS BITE? Robert doesn't have the knowledge or passion for wine, so he's out immediately. Daymond follows his lead. Mark is more of a beer drinker, so he's out. This isn't something Barbara wants to invest in either. She's out. Kevin feels the only way to make this product work is to license it. It's not something he wants to do. He will, however, keep the glass of wine Gary poured him.
LEARN MORE: Visit www.thevinamor.com
ENTREPRENEUR: Aviv Grill
PITCH: Miso Media
ASKING FOR: $300k for a 5% stake
BEST PART OF THE PITCH: Miso Media creates educational software that teaches people how to play the guitar, ukulele, banjo and other instruments. You can use a virtual instrument in the app if you don't have a real instrument. You can also plug your instrument directly into the ukulele. He brings in indie-pop & singer-songwriter Ingrid Michaelson to help demonstrate his product. It's a pretty good little show. Google and Justin Timberlake have already invested in the company. He's had 80,000 downloads of a free app. They make money by selling customers sheet music. It's a clever way to go after a traditional market.
DO THE SHARKS BITE? Daymond doesn't believe Aviv truly wants to make a deal. If he did, then he would have offered more than 5%. He believes there is something fishy there, so he's out. Barbara has been burnt by technology businesses before, so she's out. Kevin offers $100k for a 3.33% stake. That means Aviv needs to raise the other $200k from the other Sharks. Robert offers the entire $300k for 10%. Aviv counters with 7% which has Robert going out. That leaves Kevin and Mark.
THE RESULT: $300k for 8%. Kevin offers to pay half of that as a partner. Mark says Aviv doesn't need Kevin because he understands the product. Aviv agrees. He makes the deal with Mark and leaves the tank singing a happy tune.
LEARN MORE: Visit www.misomedia.com
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