ENTREPRENEUR: Samantha Meis & Conor Riley
PITCH: Misto Box
ASKING FOR: $75k for a 15% stake
BEST PART OF THE PITCH: Samantha and Conor's company is revolutionizing the way people discover coffee. Each Misto Box is packaged with coffee from local coffee makers from around the world. Then you can order the ones you like for delivery to your front door. They have three different subscription services for their service. They help coffee businesses get their product distributed for them. They have two revenue streams. One is from the subscription service and the other is from online coffee sales. They've been in business for about five months.
DO THE SHARKS BITE? Kevin offers Samantha and Conor $75k for 25% of the company even though he feels the investment is a crapshoot. Robert doesn't see the long term vision of this market, so he's out. Lori and Daymond aren't coffee drinkers. They wouldn't be good partners. Mark isn't all the way there yet. Kevin gives Samantha and Kevin 30 seconds to convince Mark to invest with them before he retracts his offer.
THE RESULT: Mark says he's going to need more equity due to the time he'll need to invest. Samantha and Conor offer him 30% of their company. The deal is done. Guess they just didn't want to work with Mr. Wonderful. Actually, Conor jokes that the reason they went with Mark is because he likes sports and Sam has a crush on him.
ENTREPRENEUR: Michael J. Desanti
PITCH: Squirrel Boss
ASKING FOR: $130k for a 40% stake
BEST PART OF THE PITCH: Michael says that Squirrel Boss is the world's first interactive squirrel-proof birdfeeder. If you see a squirrel on the birdfeeder, all you have to do is press the remote control to release a harmless static shock that will send him the little guy scurrying away. All of the sharks, with the exception of Mr. Wonderful, get shocked by the device. Michael has had about $200k in sales and was denied a patent.
DO THE SHARKS BITE? Robert sees this as quirky product, but he doesn't want to get zapped again. He's out. Lori thinks it's a little sadistic to zap a squirrel. She's out. Mark is not a squirrel whisperer, so he's out. Kevin and Daymond follow his lead. Mike D refuses to leave until Kevin suggests that he be zapped by his own product. No deal is struck for the Squirrel Boss. Aw, nuts.
LEARN MORE: Visit http://www.squirrelboss.com/
ENTREPRENEUR: David Glickman
PITCH: Vermont Butcher Block & Board Company
ASKING FOR: $400k and a 25% stake
BEST PART OF THE PITCH: David feels his company makes the most beautiful kitchen products ever. He shows the sharks some samples of some of his products. David left the rat race of Manhattan to live a life wearing tie-dyed outfits in Vermont. He started a business that has sold $2.9 million in product. He has a retail store, Internet sales and other opportunities. He needs money so he can continue to grow his company.
DO THE SHARKS BITE? Mark doesn't feel comfortable in this area, so he's out. Kevin has a different vision for the business, but David thinks he's wrong. Nevertheless, Mr. Wonderful is out. Daymond can't get excited about the business, so he's out. Robert loves the story here, but he doesn't know enough about the business to share David's passion. He's out. Lori says David is competing against the new wave of antimicrobial cutting boards that don't allow bacteria to seep into their boards. But David says wood is a better option than those food boards. Still, she thinks the investment is too risky. She's out. David offers a larger equity stake, but the sharks still aren't biting. He vows to grow his business without them.
LEARN MORE: Visit http://www.vermontbutcherblock.com
ENTREPRENEUR: Carol Foster
PITCH: Mee-Mas Gumbo
ASKING FOR: $200k for an 20% stake
BEST PART OF THE PITCH: Carol says good gumbo is really hard to find as is the time to make it yourself. She developed a fully-seasoned gumbo base in the form of a brick that allows customers to add whatever ingredients they like. The sharks think the gumbo is delicious. Carol has about a half million dollars in sales by setting up shop in Costco as a road show item. She needs money to get it into more stores. She was accepted by Costco as a permanent item in the L.A. store, but she needs money to fulfill the order.
DO THE SHARKS BITE? Mark thinks this is a great product, but he doesn't think Carol is ready to scale as big as she wants to go just yet. He's out. Daymond believes Carol is on a great path, but he can't invest. Kevin has angst about this product because the infrastructure isn't there. Robert doesn't think the margins in the business are very good. He's out. Lori loves Carol and loves her gumbo, but she's kind of on the fence. Carol admits that she's homeless at the moment as she tries to grow this business. This story has Kevin saying he'll put up half the money. He just needs Lori to go in with him.
THE RESULT: Lori says she and Kevin will put up the $200k for 50% of the business. They feel it's important that they run the business so that they can make sure that Carol will be successful. Kevin says that she's not worth a million bucks, but knows Carol is willing to work hard. That's what makes America great. He tells Carol to tell Costco they are coming. The others sharks are shocked to see that Kevin has a heart. He claims Carol had him the moment she called him "slimey."
LEARN MORE: Visit http://www.gumbobrick.com