I don’t know why, but this episode was aired at 10 pm on a Wednesday night. The network has recently moved Shark Tank all over the board. There were no new episodes for three weeks and then three episodes in an eight day period. Go figure.
Best Deal of the Episode…….Becca and Barb from UnbuckleMe have created a device that allows you to unbuckle a baby’s car seat more easily. The typical car seat requires 9 pounds of pressure to unlock the buckle and lots of grandparents have difficulty exerting that much pressure.
They were asking for $100K for 10% equity. With $400K in Sales over a 22 month period, their company valuation was a little rich. But the Sharks all loved this Mother-Daughter team and they ended up getting offers from all five Sharks! They ended up accepting Mark Cuban and Lori Greiner’s offer of $100K for 20% equity.
Best of the Rest…………Brad, Lisa, and Greg from Tanoshi made a low cost laptop for kids that has educational lessons and kid-appropriate apps preloaded.
Four of the Sharks thought the space was too competitive and their margins were too small. Daymond John stepped up and made a deal for $500K for 20%. He sees this as an opportunity to license their technology to larger companies. Daymond also bought into the social mission to educate as many kids as possible, regardless of their economic situation.
Ming from Proven has a business that utilizes Artificial Intelligence (AI) to help individuals figure out the best skin care products for them. Ming started out by going through over 4000 product reviews to start building her data base.
Despite being a very smart, poised presenter. her business is highly complex and difficult to understand. The Sharks thought she was too early to the Tank. Also, the fact that she had already raised $6 million and had sales much lower than that made the Sharks uncomfortable.
Laura from Van Robotics has created a robot that tutors kids. The robot’s name is ABii and it sells for $999 to schools. Laura is a very well educated, driven entrepreneur that’s in this for the long haul. I think she’ll need that kind of persistance because her primary market is selling to schools…..a very tough market. Mr. Wonderful sold his educational product to the education market and knows first hand the challenges in dealing with schools. No Deal here.
OVERALL RATING OF THIS EPISODE………………………..C+