This was one of the best Shark Tank episodes ever! A great assortment of entrepreneurs and lots of interest from the Sharks. I’ve awarded 3 Sharky Awards and only one Shark Chum “Award” to the entrepreneur/contestants on tonite’s episode.
Platinum Sharky……Abby and Becky from eCreamery
These two have worked hard for five years and have built the foundation of a very nice business. Their company sells ice cream and gelato online. Customers can “customize” their ice cream gifts on their website and have it delivered anywhere. They have sold $2 million of ice cream since 2007 and have forecasted $750K in sales this year.
They had both worked in Corporate America prior to starting the company. It was obvious they had both developed their knowledge and experience before starting eCreamery. The only real issue with this business is that it has a third party investor (a VC) who already owns 70% of the business. This made the deal a little “too messy” for the Sharks so they took a pass. With the exposure they got on Shark Tank, Abby and Becky will do just fine without them.
Gold Sharky……..Sarah and Mike, Surfset Fitness
These guys gave a killer demo of their “simulated surfboard exercise machine”. This included getting Shark Robert Herjavec to hang ten. The Sharks immediately started circling and they bombarded Sarah and Mike with offers.
Most of this segment was spent showing the Sharks fighting one another for the deal. I would have liked to know what the potential market size is for Surfing exercise equipment and what their business model was so I could have better appreciated all the interest. They eventually got $300K from Mark Cuban for 30% of the company. The chemistry between investor and entrepreneur was great. Mark was a good match for them.
Silver Sharky…..Neil from CATEapp (Call And Text Eraser)
Despite acting somewhat goofy, Neil proved to be the greatest hustler and negotiator in the history of Shark Tank. He had bought a smart phone app that had been developed by a police officer for $17,500 and managed to sell it to about 5000 customers at $5 a pop. It was positioned as a product to help people cheat without their spouse or significant other seeing texts from girlfriends or boyfriends.
Barbara, whose husband was an FBI agent, saw greater potential for the app as a privacy/security app and the investor interest escalated. Neil ended up getting $20K more than he asked for…..he was fearless in his negotiations and it paid off!
Shark Chum…..Speaking of hustlers, Aaron from Alpha M created a DVD and sells it for $297 to guys who want to dress better. His product “dresses men so they can get dates”. As Mr. Wonderful put it….”this is not an investable business”.
BTW, Daymond has a new mantra for Season 4……”If I have to work (for you), I’m not interested”. Certainly this opportunity would have taken lots of work.