ENTREPRENEUR: Dan Mackey, Sausalito, CA
PITCH: Chill Soda, a healthy line of soda
ASKING FOR: $50k for a 10% stake
BEST PART OF THE PITCH: It's an organic beverage that has vitamins and antioxidants. It's compatible to regular soda and the sharks like the taste. There's only 85 calories per can. That's pretty good compared to the 140 calories typically found in regular soda.
DO THE SHARKS BITE? Kevin O. talks to Dan about the most important thing needed to be a player in the soda game. The answer: Distribution. There is silence when Dan tells the sharks he's only sold 250 cans to date. But it's all a big misunderstanding. The 250 was actually 250,000. Ohhhh! Daymond says, "Dan, you just gave yourself mouth-to-mouth." But then Dan says, he's a marketing guy and doesn't really know the beverage industry. That was the wrong thing to say because Kevin H., Daymond and Robert all quickly bail. Kevin O. doesn't want to get involved in such a competitive industry. Barbara, however, is impressed at how honest Dan is as he answers their questions, even if those responses are to his detriment. The guy's a straight-shooter and she likes that.
RESULT: All of the other sharks tell Barbara she should not invest in Dan's company. These naysayers are adamant about it. But she thinks they are being soda jerks and remains undeterred by their lectures. She offers to give Dan the $50k but for 20% equity. Dan happily agrees. Drink up!
WANT TO KNOW MORE: Visit www.chillsoda.com.