- The sharks fight for a chance to go into business with an inventor.
- In this episode of "Shark Tank," several entrepreneurs pitched their business ideas to the Sharks: Mark, Daymond, Kevin, Barbara, and Robert.
The first pitch was for "Cougar Limited," an energy drink specifically targeted towards women. Ryan Custer sought $150,000 for a 30% stake in the gender-specific energy drink and lifestyle brand. The drink was under the Cougar brand and aimed at the 30-55 year old female demographic. Despite having generated $60,000 in sales over 3 years, the product faced some challenges. Sells at 711 and Smoothie king. Daymond decided not to invest due to unknown reasons. Barbara passed on the opportunity because she didn't like the taste of the product. Kevin believed the market was too tough and opted out. Mark believed Ryan was merely slapping the Cougar name on the product without a solid plan and declined to invest. Robert also decided not to invest, leaving Ryan without a deal.
Next up was "Remyxx ReKixx Sneakers," a line of fashionable shoes that were completely recyclable. Gary Gagnon asked for $50,000 for a 10% stake in his 3-week-old company. However, with no sales yet, the Sharks were concerned about the financial requirements for molds, inventory, and invoicing. The founder has invested $30,000 in the product. Kevin thought the idea lacked proprietary aspects, while Mark believed the business would face cash flow issues. Robert was concerned that if the business succeeded, it could lead Gary to bankruptcy, so he bowed out. Kevin followed suit, and Mark and Barbara also decided not to invest. Daymond saw potential and offered $50,000 for an 80% stake, with Gary eventually accepting the offer after an emotional negotiation.
The third pitch was for "The NitroForce Titan 1000," a home gym system presented by Frank Campitelli and Debrae Barensfeld. They sought $250,000 for a 10% stake and claimed that the system offered 100 exercises for a full-body workout at home. Despite selling 26 units at $1,300 each and having invested $200,000, the Sharks were not convinced. he capital requirement for the DTC business is huge. The competition is every other home use device out there. The product is aimed at semi pros and Robert thinks it should be aimed at regulars to make any money. Daymond thinks it will take millions to educate consumers and is out. Mark is out as there is no sales and distribution model. Barbara is out as she thinks the industry doesn't make much sense. Robert is out as there are too many me-too's in the business.
The fourth pitch was for "UniKey Technologies," a smart phone-operated door lock system presented by Phil Dumas. Phil asked for $500,000 for a 33% stake in the business. His technology allowed existing locks to be modified to work with digital keys, which could be transferred to others for one-time, regular, or permanent use. Phil had a provisional patent and intended to license the technology to Black & Decker. Will use the $500,000 for patent protection and engineering, equipment (blue tooth development stack). Robert offers $1 million for 75%. Kevin offers $100,000 for 10%. Barbara offers $250,000 for 25%. Daymond offers $500,000 for 40%. Mark & Kevin offer $500,000 ($400,000 from Mark, $100,000 from Kevin) for 45%. Phil counters Mark for 40%. Mark offers 42.5%. Phil sticks to 40% and 2 seats on the board for Mark and Kevin. They accept.
As an update from a previous episode, "EZ VIP," Alashe Nelson secured deals with Mark and Daymond, and Daymond brought in Pitbull as a celebrity ambassador for the brand.
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