- A towel that provides coverage to change out of a swimsuit in public.
- Sharks attending the pitch are Mark, Daymond, Kevin, Lori and Robert. Lori, known as the Queen of QVC and holds an impressive 108 patents, has a track record of launching 300 products with $0.5 billion in retail sales.
"The Swilt" is a unique combination of a sweater and quilt, presented by Ivory Tennelle. The product is offered at a discount of 30% for 35%. So far, it has sold 100 units through flea marketplaces, but it has never been showcased in stores. Unfortunately, Mark doesn't like the design and look of the Swilt, leading him to opt-out. Lori believes the Swilt is too similar to the saturated market of the Snuggie and, hence, doesn't see potential in it. Lori and Robert both decide not to invest, and Kevin follows suit as he also doesn't like the design. Daymond also chooses to pass on the opportunity.
"Show No" is a towel designed by Shelly Ehler, offering coverage for changing out of a swimsuit in public. She seeks $50,000 for 25% equity. Shelly customizes the ribbons on the towels for the companies she sells to. The towel costs $6.50 to produce, wholesales for $9, and retails for $19.99. So far, she has sold $15,000 worth of the product. Kevin opts out because he sees it as a seasonal product. Shelly calculates that she can sell $1 million worth of towels to just 50 water parks during the 3 months of summer. Both Robert and Daymond decide not to invest. Lori offers $50,000 for 25%, but Daymond goes down to 20%. Mark then offers $75,000 for 25%, leading Daymond to raise his offer to $75,000 for 20%. Lori matches Daymond's $75,000 for 25%. Shelly ultimately picks Lori, and for the first time in Shark Tank history, Lori provides the deal without the usual due diligence process.
"Puppy Cake" is a cake mix for dogs pitched by Kelly Chaney. She seeks $50,000 for 25% equity. Over the past four years, the product has generated $80,000 in sales, with $23,000 in the last 12 months. It is currently available in 150 stores with no advertising. Kelly faces challenges in getting distributors to respond to her calls. Kelly has an issue in generating sales. Kevin decides not to invest, believing the business is a losing venture. Lori advises Kelly to expand her product line and thinks a single product won't be enough to drive significant growth. Mark opts out, considering Kelly not committed enough. Daymond also passes, unable to connect with the concept of cakes for dogs.
"Wine Balloon" is a wine preservation solution presented by Eric Corti. He offers $40,000 for 30% equity and has a patent pending for the product. Made of medical-grade latex rubber, the Wine Balloon has no effect on the taste of the wine. Eric has invested $65,000 in product development and sold 700 units at $22 per unit. The production cost per unit is $6.50. Kevin offers $40,000 for 30%, but he's only interested in licensing the product. Lori, on the other hand, is willing to buy 100% of the business for $500,000. Mark decides to team up with Lori and offers $600,000 for 100%. Eric counters by requesting a 3% royalty. Mark initially steps back, but later returns with Lori and proposes $400,000 for 100% without a royalty. Eric agrees to Mark's offer of $400,000.
Update on "Notehall" (Episode 108): DJ and Shaun, founders of a company to buy and sell class notes, closed a $90,000 deal with Barbara. Subsequently, their company got acquired by Chegg, and both of them were hired by Chegg. As a result, DJ and Shaun have become millionaires.
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