Entrepreneur husband and wife Melissa Kiernan and Kevin Kiernan of The Last Lid asked $40,000 for 20% of their business. All of the sharks dropped out except for Daymond John, who was very skeptical about the value of the company, and said that he would only be interested if the percentage was changed. Kevin Kiernan came back with $40,000 for 60%, and Daymond agreed immediately and the deal was made.
Entrepreneurs George Podd and Rolf Schwartz of LightFilm who had appeared in Shark Tank (2009) episode #2.5 and made a deal with Daymond John for $100,000, came back for a Shark Tank update. The company name was changed to Powerdecal and Daymond arranged for them to get into Best Buy and for licensing with 250 colleges and universities, plus all of the major league professional sports teams, and their projected sales for the first two quarters of 2012 is $5-6 million.
Entrepreneur Amanda Schlechter of Ledge Pillow asked $30,000 for 25% of her company. All of the sharks expressed doubt about the niche market product for women with large breasts, and that Amanda had sold only 83 of them in 3 years, and all of the sharks bowed out.
Entrepreneurs Steve Nakisher and Shane Talbott of Talbott Teas asked $250,000 for 20% of their company. All of the sharks bowed out except Kevin O'Leary who offered $250,000, but insisted on 40% of the company, and when asked to go closer with the percentage, Kevin declined. Then Steve asked if Kevin would do it for 30%, and Kevin said that he almost never changes his offer, but he would this time, and said he would do it for 35%, and Steve and Shane accepted the deal at $250,000 for 35%.
Entrepreneurs Maddie Bradshaw (age 15, company president), Margot Bradshaw (age 11, company vice president), and mother Diane Bradshaw of M3 Girls Designs asked $300,000 for 15% of their company. Because they have a five year record of sales over $5 million the sharks were very impressed. Kevin O'Leary made the first offer of $300,000 for 30% of the company. As soon as Kevin finished making his offer, Lori Greiner popped the Bradshaw's an offer of partnering with Kevin, for the same $300,000, but for 40%, with Kevin being a silent partner, and Lori offering the sweetener of being their mentor, and getting the girls on QVC network. Daymond John bowed out, and then Mark Cuban said that he would do the deal with Lori, and cut Kevin out, and give them the $300,000 they were asking for, but brought the percentage back down to 30%. Kevin jumped back in and said that he would do the deal at $300,000 for 30%, and included Robert Herjavec, who agreed to participate with those numbers. The Bradshaws hesitated, and Mark told them that since four of the five sharks were very interested, that the Bradshaws could write a better deal, and asked for their counter offer. When the sharks turned down the counter offer of $300,000 for 20%, the Bradshaws came back with $300,000 for 30% with Mark, Lori, and Robert together, plus Dallas Maverick's season tickets. Mark said that he would give them season tickets, but that they were sold out, but said that anytime they wanted to use his owner's box, they could. The deal was done with Robert, Lori, and Mark at $300,000 for 30%, and Kevin got shut out.