Interesting assortment of entrepreneurs tonite. They had to pitch their products to a cranky bunch of Sharks. Mark Cuban, in particular, was a grouch tonite. But the show must go on….and two deals were struck.
Platinum Sharky Award……Aly Lessor from Cozy Bug
Aly had sold $300,000 of her unique kid’s pillowcase dresses in 30 days. There’s nothing like actual orders from real customers to get investors interested. This is the best way for them to minimize their risk. Three of the Sharks made offers and she ended up selecting Daymond due to his expertise building various clothing brands.
Gold Sharky Award…….Brandon and Keith from Marz Sprays
These sprays were created to meet the needs of 150 million Americans that don’t like taking vitamin pills. Grouchy Mark Cuban declared this a “scam and a hustle” but Lori Greiner and Mr. Wonderful were very interested. Lori ended up getting the deal and Brandon negotiated the ability to buy back a chunk of the equity he was offering at 4X the original investment. Lori agreed to invest $200K for 25% equity.
Update Note: This episode included an update on Games 2U from Season 3. Despite not getting a deal from the Sharks, their business is booming…….they are forecasting annual sales of $20 million. I gave them a Platinum Sharky last year which just goes to show sometimes you’re better off staying a “self-funded entrepreneur”.
Shark Chum……Roger Sullivan created Wired Waffles…..the Sharks unanimously agreed this energy food didn’t taste good and would be dangerous if swallowed by kids. Grouchy Mark looked like he was about to puke after taking a bite.
Cheryl Rigdon developed a neat little product to help get stuff out of the bottom of bottles…. make-up for example. It was too soon for Cheryl to seek outside investment…..she needs to generate more real orders first. She did manage to get the Sharks giggling uncontrollably when she told them the names of her two products….Spatty and Spatty Daddy. Even Mark had to laugh.