'Shark Tank': Mark Cuban Slams Guest Shark for Weak Instagram Following (RECAP)
Tonight on Shark Tank, guest shark Matt Higgins joined Daymond John, Mark Cuban, Kevin O'Leary, and Lori Greiner in the tank as four hopeful businesses — Tailgate 'N' Go, Myostorm, GolfKicks, Nerdit Now — tried to land a life-changing deal.
Read on for all of the highlights from Episode 5.
Tailgate 'N' Go
First up in the tank was a family from Colorado who introduced Tailgate 'N' Go, a portable outdoor kitchen and drybox for campers, hikers, and outdoorsmen. Seeking $250,000 for a 10% stake in their company, Taylor, Ron, and Kobe were eager to get a shark on board.
The idea for the business came when the family went camping one year ago and found themselves without the basic essentials that a kitchen would offer. They decided to create their company when they returned home.
While Mark was impressed by the family's ability to create a useful product, he admitted he's not a fan of camping, so he went out fairly quickly. Lori agreed with Mark, saying she doesn't know about the outdoors space, before going out. Daymond, as well, wasn't interested in moving forward with the family. Matt, who is Vice Chairman of the Miami Dolphins and can easily speak to the sports community, wasn't certain that sports fans would be willing to change up their tailgate experience.
The sharks are joined by 6 guests this season — here's what you need to know.
Kevin, on the other hand, was confident he could help take Tailgate 'N' Go to the next level, and offered $250,000 as a line of credit at 10% interest for a 10% stake plus a royalty of $100 per unit in perpetuity. However, the entrepreneurs declined Kevin's offer. As a counter, they asked for $250,000 for 15% but Kevin wasn't happy.
Shifting focus away from Kevin, they eventually made a deal with Matt with an offer of $250,000 to 20% along with a $50 royalty until his $250,000 is repaid.
Jonathan Hoxter, Markevis Gideon, and Jake Voorhees were next up in the tank seeking $150,000 for 20% stake of Nerdit Now, which offers same-day service for gadget repair. They stand out from competition by offering free diagnostics on gadget repair and once the problem is identified, charge only $90 for repair along with a six month warranty, which is significantly less than average kiosks.
The sharks were all equally impressed with the entrepreneurs' backgrounds, they all felt the business wasn't investable and Nerdit Now walked away without a deal.
Tyler Stuart and John Korsky introduced the sharks to their company GolfKicks, which offers a kit to easily turns your regular sneakers into golf shoes. Their company allows golfers to wear whatever they'd like on the course while still having the traction needed on their shoes.
The company, which sold $120,000 in the last three months, is on track to sell a million dollars this year.
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Daymond and Matt both admitted they aren't fans of golf, so they decided to remove themselves. While Kevin is a golfer, he wasn't a fan of the way they structured the deal, so he also went out.
Lori and Mark both offered deals. Lori offered $300,000 as a loan with 8% interest and a royalty of $2 per unit and once she's paid back, she'll take 5% stake. Mark also made an offer $300,000 for 15%.
The entrepreneurs countered Mark with $300,000 for 12% and Mark countered back with 13% and made a deal.
Collectively, they have invested over $100 million into products and businesses from the award-winning show.
Lastly, entrepreneurs from Provo, Utah seeking $150,000 for 10% introduced the sharks to Myostorm, a company that offers a vibrating, self-heating massage therapy ball — aka "The Meteor" — that supports muscle repair and recovery.
"The Meteor was designed with professional athletes in mind, but it can be used by and benefit anyone who experiences pain," they said.
While there are other massage therapies on the market, Myostorm offers the only ball that offers both heat and vibration. Sold for $169 per unit, Lori wasn't impressed and encouraged them to try selling for under $100.
Mark offered $250,000 for 20% but wasn't willing to allow the entrepreneurs to listen to other potential offers. When the other sharks expressed they had offers waiting, the entrepreneurs asked Mark if they could hear them out. He then went out.
Kevin chimed in with $150,000 for 5% stake and a royalty of $1 per ball until his $500,000 is recouped. Matt also threw in a deal of $150,000 for 10%, adding that he could reach the same audience as Mark with his sports background.
The ABC reality show turns 10 years old on August 9, and it's changed a lot of entrepreneurs' lives over this past decade.
"Right...right. With your 16,000 Instagram followers," Mark jabbed. (Full disclosure: Matt currently has 115,000 Instagram followers. But close enough, Mark.)
Lori also chimed in offering the same offer as Kevin. The entrepreneurs came back with interest in working with Lori. Both Daymond and Kevin questioned the entrepreneurs for choosing Lori when Kevin offered the exact deal prior.
"Good choice, gentlemen. I will not let you down," Lori said.
Shark Tank, Sundays, 9/8c, ABC