Ashton Kutcher returned to Shark Tank on the heels of his appearance on the cover of the April 19, 2016 edition of Forbes Magazine. Ashton has turned $30 million in investments into $250 million! Uber and Airbnb are just two of his many investments.
Ashton didn’t show any interest in Stephen from Petnostics, but Mr. Wonderful and Shark Lori teamed up with Stephen to make a deal. Stephen was the clear winner of this week’s Sharky Award given to contestants who display entrepreneurial excellence.
Why did Stephen win the Sharky? Four reasons……First, I like his educational background (I.E. and Harvard MBA). Second, I love the name Petnostics…it tells you what the business is all about, health diagnostics for pets. Third, I liked the smart phone app he developed to test a pet’s urine to see if there is a health issue that needs to be addressed by a vet. Fourth, I love the pet industry. Most pet owners would do anything for the pets. Naturally, this necessitates spending lots of money to keep their pets happy and healthy.
The Best of the Rest……Angela and Steve from Slyde Handboards used all of their wedding funds to finance their growing business making handboards for surfer dudes. That shows real commitment and determination. As they said, failure is not an option. The thing I didn’t like about the business is that lots of education will be required to make a sale, and that means long, expensive sales cycles. None-the-less, they got a nice deal from Mark Cuban and Ashton after some good negotiating.
Sheen and Keir from Friends Headphones sell fashion headphones for women. Their products looked great but they had racked up over $9 million in losses. They had a very optimistic forecast based on the introduction of a brand new untested product that is a neckless that plays music. No deal here.
Yashar from popSLATE didn’t get any offers for his product that adds a second screen to an iPhone. The Sharks thought he would face too much competition from “wearables”.
In the Update segment, Shark Barbara was featured meeting with several of her portfolio companies from past seasons of Shark Tank. I was glad to see Tom + Chee is doing so well. They now have 36 locations with sales of over $32 million a year (their sales were a little over $1 million when they originally appeared on the show). They had won my “Best Presentation of Season 4 Sharky Award”. I had predicted they were “on their way to fame and fortune”.
OVERALL RATING OF THIS EPISODE………..B-