After last week’s terrific show, this episode was uninspiring….no Sharky Awards will be given this week.
That said, there were a couple of deals. Ben and Ariel from Pupbox have a subscription- based service that caters to puppy dogs. Each month they ship a doggy care package with toys, treats, etc. Since most dog owners are crazy about their dogs, this is a good business. They expect to do $2.5 million in sales next year. Most of their marketing efforts are thru social media. In fact, they have 75K followers on instagram. They struck a deal with Shark Daymond for $250K for 15% equity. He is also a dog-crazy dog owner.
Vance from Line Cutters gave a very powerful demo of his fishing line and thread cutters. He cut four lines of varying thickness with ease using his ring-like cutting tool. Like most great innovations, this came out of Vance’s own personal experience as a passionate fisherman. He often became frustrated when cutting his line and so he invented Line Cutters. He did a deal with Daymond for $120K for 33% of the company.
Hunter and Alex from Barbell made denim clothing for weightlifters. The pants contained 1% spandex and that allowed people with large thighs to comfortably wear their pants. These guys have a great business! Their sales are $2.3 million and they have a net profit of $500K per year. They would have scored a deal but they came into the tank with a valuation of $10 million……probably double what it should have been. Also, the Sharks were not crazy about denim clothes in general, because “the older they get, the cooler they look”. This could hurt repeat business.
Catherine from EnergyBits was totally possessed with the idea of taking 30 (or more) algae pills everyday to increase your energy level. She also came into the tank with an absurdly high valuation of $10 million. With sales of $300K and no proof that this actually works, she was operating in an alternate universe.
OVERALL RATING OF THIS EPISODE……….C-