The sharks hear pitches for a flavored mix-and-match lip balm.
Did You Know?
Entrepreneurs Stephanie Rensing
and her husband Daniel Rensing
of The Smart Baker asked $75,000 for 25% of their company. Right off the bat three sharks drop out, with only Daymond John
and Barbara Corcoran
still in, but Barbara says she is not sure whether she wants to make an offer, and Daymond offers to give them $75,000 for 40% of their company. Immediately Barbara jumps in with an offer after telling them of her success with Daisy Cakes (updated profile on the same episode) of $75,000 for 40% with a 5% royalty until paid back for her investment, and Daniel counters at $100,000 for 40% with a 5% royalty, but Barbara turns them down, and they accept Barbara's original offer of $75,000 for 40% of their company with a 5% royalty. See more
Featured in Shark Tank: Episode #5.15