The Season 7 finale was wild and crazy! No Sharky Awards, but a very entertaining episode. Mr. Wonderful made his best offer in seven seasons of Shark Tank, and then told the next entrepreneur he was an “a-hole” and to “get the f**k out of here”. The season ended with verbal fireworks!
The episode started out with a former contestant making a return to the tank after not getting an offer the first time around. Aaron from Pete & Pedro ended up getting a deal for a company he owned but wasn’t even pitching! Barbara invested $100K for 10% of Alpha M, a social media product promotion business.
It is very unusual for the Sharks to invest in just one of two companies owned by an entrepreneur. Investors are concerned about how the entrepreneur will allocate his or her time to the business they invest in. They almost always force the entrepreneur to bundle their companies so they can invest in the combined company. This eliminates the time allocation issue.
Next up was Tania from PMS Bites. She has developed vegan, gluten-free snacks for, you guessed it, ladies suffering through PMS. Each snack had just 50 calories and eliminates the desire for sugary treats. Tania gave a very good presentation but didn’t get an offer. The Sharks thought she should rename the product to appeal to a larger audience and she should concentrate on online sales rather than focusing on retail sales.
Tomer from Felt has developed an app that helps streamline the process of writing and mailing Thank You cards. Mr. Wonderful immediately saw synergies with his growing wedding empire and offered Tomer $225K for 10% of his company. Mr. W. sees this being integrated with Honey Fund immediately. As Shark Robert pointed out, this was the best offer he had made in seven seasons as a Shark. When investors see obvious synergies or product extensions, they can go from financial investor to strategic investors and invest more for less equity. This is why Mr. W. offered what he did.
After leaving the Tank, Tomer broke down and cried. I could relate. After getting an investment or booking a big piece of business., you feel a wonderful combination of emotions. You’re relieved, excited, happy, drained, and feeling accomplished all at the same time. I shed a tear with Tomer.
Maneesh from Pavlov has created a watch-like device that sends a shock to people trying to break bad habits. Although Maneesh gave a slick presentation, the Sharks weren’t buying it. Mark Cuban said, “He’s a con artist”. Barbara said his presentation was “exhausting and complicated”. The fact is, Maneesh had no proof that his product actually works. He cited studies done by others that talked about the benefits of aversion therapy, but he had no clinical trial data of his own.
Then, out of left field, Mr. Wonderful expressed interest! He made another generous offer, but was turned down by Maneesh who said he would accept an offer from any of the Sharks EXCEPT Mr. Wonderful. A series of expletives followed and Maneesh was told to leave the tank immediately.
Here’s where entrepreneurs need to learn the PC way to reject an offer. Maneesh could have just said that he didn’t feel Mr. W was a good fit and leave it at that.
OVERALL RATING OF THIS EPISODE………….B (C for content and A for entertainment)