‘Shark Tank’: Barbara Calls Out an Entrepreneur For Lack of Energy (RECAP)
Four determined entrepreneurs pitched their business ideas to Mark Cuban, Kevin O’Leary, Lori Greiner, Barbara Corcoran, and Robert Herjavec in hopes of landing the deal of a lifetime. Read on to find out what happened — and who walked away a little bit richer — on tonight’s episode of Shark Tank.
Seeking: $200,000 for 8% stake
Ashli Jelinek was first up in the tank, eager to talk to the Sharks about her company, Kids Luv, which offers the first zero-sugar vitamin beverage for kids. “There is sugar in everything and sugar is sneaky,” she said, adding that most juice on the market has 25 grams of sugar. But Kids Luv offers the solution to that — with 12 essential minerals that has certified vegan vitamins and hydration for only 10 calories.
While the Sharks were initially impressed by the low calorie drink and how it has a shelf life of roughly a year, they became extremely concerned when Ashli admitted to already raising a million dollars in a family and friends round of financing — and she only has $50,000 left in the bank.
You’re asking us to follow all of your other investors down that little yellow path. It makes absolutely no sense,” Barbara said before going on. Mark agreed, and dropped out as well.
“I don’t know if the kids are going to love it,” Kevin added, asking about re-orders. “I don’t want to take this journey with you. I just can’t do it.”
Robert and Lori also dropped out, saying that they were concerned about the current state of the business.
“You’ve got a wall to climb,” Kevin told the entrepreneur as she walked out.
Seeking: $300,000 for 5% stake
Bunim Laskin was up next in the tank, ready to make a splash with his company, Swimply, the online platform that connects owners of private pools with people looking to take a swim. “Anyone can book their own private pool, by the hour, whenever they want,” he said.
With $215,000 gross revenue so far, Swimply currently takes 25% of what each individual pool host charges its customers — but the Sharks weren’t pleased.
“I just don’t know if I want to invest in this,” Lori said, and dropped out. Barbara agreed, saying the business concept is “nuts,” before removing herself as a potential investor.
“This is just plain crazy and your valuation is nuts,” Kevin said, also dropping out.
Mark felt that Bunim lacked self awareness and wasn’t willing to take the business journey with him, so he, as well, removed himself — and Robert followed suit, saying the business is “crazy.”
Seeking: $100,000 for 33.3% stake
Next was Rachel Lincoln and Krissy Pruske who introduced the Sharks to their product that makes traveling in the car a little bit easier for parents. Space Traveler is a car seat cover that visually and physically separates kids in the backseat while offering plenty of storage compartments for toys, snacks, or drinks — so a child is sure to never get bored while on long road trips.
Currently, the product is pre-revenue, but the entrepreneurs plan to sell it for $29.99 and cost $17.00 to make it — which Lori took issue with. She immediately dropped out after learning of the early stages of the company. Mark, too, took issue with the fact that the entrepreneurs haven’t looked into conflicting patents, and dropped out.
“I don’t like this product. I think my kids would drive each other nuts hitting each other,” Robert said, also removing him. Mr. Wonderful was blunt, saying he simply wasn’t willing to take the business journey with them.
With only one Shark left, Barbara seemed willing to take the ride with Rachel and Krissy, an offered them exactly what they asked for plus a royalty of $2 per unit until her money is repaid — because, as she put it, she has to start making money right away — to which the entrepreneurs happily accepted.
Seeking: $120,000 for 10% stake
Andy and Eric Bert were the final entrepreneurs of the episode, and couldn’t wait to share their wood fire and gas outdoor pizza over with the Sharks. With the perfect pizza able to cook in a matter of minutes, this oven seriously impressed the Sharks.
Currently selling on Amazon, in the past year they’ve done $640,000 in sales in the past year, with $400,000 in the last three months.
“It’s just not a business I want to get attached to,” Mark said, though he added he was impressed by the company sales overall. Robert chimed in as well, saying he was simply not excited by the product.
Though Barbara told the entrepreneurs she was initially interested in making a deal, she was turned off by their declining energy throughout their presentation. “Usually I buy into products that I’m not that crazy about the product but I love the entrepreneur and I do very well,” she said, adding that in this case, she really loves the product. After bringing it to their attention, they were able to step things up a bit, and she was willing to make an offer of $120,000 for 25%.
Kevin also threw out a deal, asking for $120,000 for 30% stake of the company. “If I get behind this, the numbers would be up tenfold.” The entrepreneurs immediately countered Kevin, asking him to match Barbara’s deal, and he did!
The entrepreneurs admitted to going with Kevin over Barbara because even though they offered the same deal, Kevin believed in them from the start, while Barbara had some concerns.
“Barbara, you said to them they have no energy. Hard to get a deal when you call somebody boring!” Robert jabbed.
Shark Tank, Fridays, 8/7c, ABC