- A product that identifies home visitors; sending imaginative toys to kids through a subscription gift service; a slaw/salsa condiment; a cell phone app.
- In the Shark Tank episode, several entrepreneurs presented their business ideas to the sharks: Mark, Daymond, Kevin, Lori, and Robert.
The first pitch was for "DoorBot," a doorbell equipped with a camera and speaker that connects to smartphones. Jamie Siminoff sought a $700,000 investment for a 10% stake in his company. DoorBot retailed for $100, with a production cost of $81.83. The product was sold exclusively direct to consumers, generating $1 million in sales to date, including $250,000 in the previous month. However, Lori decided to pass on the opportunity due to insufficient differentiation from existing competition, and Mark doubted its potential to become a $100 million business. Daymond couldn't determine the product's target market segment, while Robert believed it was overpriced. Kevin offered $700,000 for a 10% royalty, which would decrease to 7% after recouping the initial investment, along with 5% equity. Jamie proposed a counteroffer of $700,000 for a 10% interest rate and 3% equity, but Kevin did not agree, leading Jamie to walk away.
Next up was "Slawsa," a unique blend of coleslaw and salsa. Julie Busha sought a $150,000 investment for a 15% stake in her company. Slawsa had secured placement in 4,200 stores, generating sales of $212,000 in the first year, with a projected increase to $500,000 in the second year. The product cost $1.25 to produce and wholesaled for $2.25, with royalties paid to a partner ranging from 0.66% to 2%. Julie relied on her personal savings, as she did not receive a salary and needed capital for production. Mark found the story appealing but chose not to invest. Both Robert and Daymond believed the product lacked the desired level of spiciness. Lori opted out due to her disinterest in the condiments business, and Kevin found the valuation too high, leading him to pass on the opportunity.
The entrepreneurs behind "Magic Moments" introduced their app, which allowed users to put their photos on products for sale. Sanford Nelson, Trevor, and Blake George were seeking a $500,000 investment for a 15% stake in their company. The app raised concerns about privacy and consent, as it involved selling photos without the subjects' approval. The entrepreneurs had partnered with a firm called Cafe Press, which handled the back-end operations and global distribution. However, the mobile app had not generated any revenue yet. The entrepreneurs had raised $500,000 from friends and family in exchange for a 33% stake. Kevin believed he could replicate the business for $400,000, so he decided not to invest. Mark thought professional photographers would prefer using a web interface rather than a mobile app, and Daymond wanted to see a proof of concept. Lori failed to understand the business, and Robert believed the marketplace was unproven. Consequently, none of the sharks saw an opportunity and decided not to invest.
"Surprise Ride" was another business idea presented, offering a monthly box of themed educational activities for children. Donna and Rosa Khalife sought a $110,000 investment for a 10% stake in their company. The subscription cost was $25 per month for a duration of 6 to 12 months. In four months, they had shipped 800 boxes to 220 active customers. Their cost per acquisition was $5.3, and the estimated customer value for a 12-month period was $130. With a fulfillment center in Florida, they had already raised $100,000 from Ervin Jacobs through a convertible note, which would suffice for the next 12 months. They anticipated $500,000 in sales and aimed for 3,500 subscribers. They had also hired a marketing agency for $40,000 to drive traffic to their website over the course of 12 months. Daymond found the valuation unreasonable, and Kevin believed the entrepreneurs needed more capital, resulting in both of them declining to invest. Robert offered $110,000 for a 25% stake, but Lori gracefully chose not to invest. The entrepreneurs claimed expertise in execution, but Mark challenged this, stating that they would need to rely on various agencies to get things done. Consequently, Mark and Robert also decided against investing.
Lastly, there was an update on "Barbara's All Stars." Barbara took some of her top investments on a weekend retreat to Fire Island and promoted a new book featuring advice for entrepreneurs from all the sharks. The mentioned investments included Cousins Maine Lobster (Episode 406), Villy Customs (Episode 313), Tom + Chee (Episode 426), Ryan's Barkery (Episode 426), Daisy Cakes (Episode 206), The Coop (Episode 411), Ride-On, Carry-On (Episode 204).
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