Congrats to Season 6 contestant The Red Dress Boutique. They were my runner-up for the Best Presentation of Season 6 on Shark Tank (see The Best and Worst of Shark Tank) . In the update segment of tonite’s episode, we learned that they have generated over $14 million in sales since their Shark Tank appearance!
The clear winner of tonite’s Sharky Award was Loliware. These two Parsons School of Design grads have developed cups you can eat………that’s right, all vegan edible cups. Good for the environment and they taste good t00 (possible slogan….. two cups in one?!). Their sales have been growing quickly. They even received one order for 60,000 cups!
Leigh Ann and Chelsea came into the tank seeking $150K for 10% equity, and walked out with $600K for 25%. They had four of the five Sharks interested and ended up taking an offer from Mark and Barbara. Poor Robert Herjavec, he came up with the idea of offering $600K (because that would complete a $1 million round of funding), but then Mark stole his idea and Robert got kicked to the curb. All’s fair.
Best of The Rest…………The most intriguing entrepreneurs of the night were Doug and Chad from SPLIKITY, an online app that stores people’s passwords so you don’t have to remember them and they automatically “populate” your password fields. This is a great concept…….everyone should have different passwords for every website for security reasons. Of course if you use hundreds of websites, it can be difficult to remember them all. Unfortunately, if this app ever gets hacked, the hackers gain access to all of your passwords.
What made these two so intriguing is they were wearing tuxedos in order to look sharp and make a good impression. The lady Sharks loved the idea, but the male Sharks were not impressed. Neither Doug nor Chad had security technology backgrounds. Most techies would have been wearing jeans and a tee-shirt, so the tuxedos sent the wrong message. They reinforced the thought that these guys didn’t have the right backgrounds to succeed, and may have looked good on the outside, but were lacking under the hood. No deal here.
Jessie from O’Dang Hummus was a high energy Floridian (oxymoron?) who developed Hummus Salad Dressing and other Hummus products. Barbara thought he was naïve, but Jessie fast-talked his way into a small deal with Robert and Lori.
Mikki from Mikki Bey Eyelash Extensions was very good at applying eyelash extensions (so good that she even put one on Mark), but the Sharks concluded that she had a service that wasn’t scaleable. She also cried during her pitch….Barbara told her not to cry and that “when people cry, they give away their power”. Good point.