‘Shark Tank’: Kevin O’Leary Tells Entrepreneur to Flush Product Down the Toilet (RECAP)
Spoiler Alert
Tonight on Shark Tank, guest shark Rohan Aza joined Mark Cuban, Barbara Corcoran, Kevin O’Leary, and Lori Greiner in the tank as four hopeful businesses — Knife Aid, Bug Bite Thing, Plop Star, and Snacklins — pitched their proposals.
Who walked away with a deal and who walked away empty handed? Read on for all of the highlights from Shark Tank Episode 4.
Knife Aid
Marc Lickfett and Mikael Soderlindh were up first in the tank, seeking $400,000 for 15% of their company, Knife Aid, which offers knife sharpening services by mail. Customers order online, receive a secure package for shipping, and an expert knife-smith recreates the razor sharp edge of the knife and sends back.
“Your knives will come back sharper than the day you bought them,” they said.
Lori was first to show interest in the company, offering $200,000 in cash and $200,000 as a line of credit for 20% of the business. Kevin aka “Chef Wonderful” topped Lori’s offer — $400,000 for 20%. Rohan then joined in with Lori and matched Kevin’s deal.
“So you get two sharks instead of one self appointed Chef Wonderful,” he said.
But not so fast. Barbara decided to join in the fun and partnered up with Kevin, offering $500,000 for 20%.
The entrepreneurs stepped outside the tank to sort through their options but Lori didn’t allow them much alone time. She stormed after them to show her passion for the business which then prompted Kevin to do the same. It didn’t take long for all the fighting sharks to get in the hallway and argue over who was more passionate about the company.
After Lori and Rohan increased their offer to $500,000 for 20%, the entrepreneurs accepted the deal.
Bug Bite Thing
A mother-daughter duo were next in the tank seeking $150,000 for 10% of Bug Bite Thing, which is a device that removes the toxin from insect bites to eliminate itching and swelling.
Last year, they sold $500,000 in product. This year, in the first five months, they sold $800,000 and are currently in over 7,000 pharmacies in the US. Cha-ching!
Rohan immediately expressed interest, offering $150,000 for 10%, while Barbara topped that offer with $200,000 for 10%. Kevin also made an offer: $150,000 for 6% with a royalty of a dollar per unit. Lori also made an offer, giving the entrepreneurs exactly what they asked for, $150,000 for 10%.
The sharks started mumbling about teaming up with one another in an attempt to get a deal, but it didn’t matter. The entrepreneurs were sold on Lori’s deal and decided to go with her for $150,000 for 10%.
Plop Star
Next up was Plop Star, a bathroom product that help blocks odors before they start. Tyler Jay entered the tank seeking $150,000 for 10% of his company.
According to Tyler, the world’s most discrete toilet odor eliminator is gently dropped into the toilet before you do … your business… and that’s when the magic happens. But with only $12,000 in sales, the sharks weren’t too impressed.
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Does this product have what it takes to block out the competition? 👀 #SharkTank
However, Lori, who previously made a deal with the successful and lucrative bathroom product Squatty Potty, debated if it could fit in with her portfolio. But after further thinking, decided it was not investable at this time.
Barbara, Mark, and Rohan, ultimately saw no demand in the product and went out, while Kevin agreed with their sentiment and told Tyler he should “flush the product down the toilet.”
Yikes.
Snacklins
Last in the tank tonight was Samy Kobrosly, who invented a low-calorie vegan alternative to pork rinds, seeking $200,000 for 2.5% of his company.
“I love junk food, everyone loves junk food. But the problem is, it’s junk,” Samy said, adding that it was important for him to use fresh ingredients — like yuca, mushrooms, and onions — for his 80-calorie snack.
And their sales are impressive, too. Last year, they sold $200,000 in product and this year, they’re on track to sell $2 million. Though the company isn’t profitable yet, Samy said he’s looking to bring on a shark to help bring Snacklins to the next level.
Lori, Barbara, and Rohan didn’t see the vision, and all went out.
Mark, who was not impressed with the valuation, turned the tables on Samy, saying, “If you want to make me an offer I can’t refuse, do it. Otherwise I’m out.”
Samy came back with 5% for $250,000, but still Mark wasn’t pleased. Mark revised the offer to be $250,000 for 5% equity and 5% advisory shares — to which Samy accepted.
“I can’t believe I just made a deal with THE Mark Cuban,” he said.
Shark Tank, Sundays, 9/8c, ABC
