- Two Dallas entrepreneurs demonstrate their smart light bulb which can be programmed from a mobile phone for home or business, a father-son team from Las Vegas have a high-tech replacement for a cork that helps preserve wine and olive oil, parents from Washington, D.C. unveil their subscription service of carefully-curated children's books, but they only have 85 subscribers to date, and a Sarasota, FL woman has a fort-building construction kit for kids that makes castles, pirate ships and cars. Plus, a follow-up on Breathometer, one of the show's most popular deals; five Sharks invested in it earlier this season. It's a breathalyzer app that works with your smart phone.—Anonymous
- In the Shark Tank episode, several entrepreneurs presented their business ideas to the sharks: Mark, Barbara, Kevin, Lori, and Robert.
The first pitch was for "iLumi," a versatile home lighting system that can be controlled from a smartphone. Corey Egan and Swapnil Bora sought $350,000 for a 15% stake in their Bluetooth-based product. Although they hadn't launched it in the market yet, they offered a three-pack of bulbs for $290, with each bulb lasting up to 20 years. They had a pending patent and were considering either licensing or manufacturing. Barbara opted out due to the high price point, and Lori was unsure about the intellectual property (IP) and final pricing, so they both declined. Robert offered the requested amount for a higher equity stake of 35%, while Mark offered the same amount for a 25% stake. Corey and Swapnil wanted to hear more offers and convinced Mark to reconsider. Kevin proposed a deal involving $350,000 for 15% royalties contingent on the IP clearing, but the entrepreneurs rejected it. Ultimately, they accepted Mark's counteroffer of $350,000 for a 20% stake.
The second pitch was for "ZooBean," a subscription service for children's books presented by Felix Brandon Lloyd and Jordan Lloyd Bookey. They requested $250,000 for a 15% stake. Kevin raised concerns about the high cost per acquisition (CPA) due to children outgrowing the service and the need to constantly acquire new parents as subscribers. Currently, the CPA stood at $6.03, and the business had 85 subscribers within two months. The entrepreneurs claimed that their recommendations were more specific than those provided by Amazon, their main competition. Lori and Barbara opted out, seeing no need for the business. Robert didn't see a viable business model, and Kevin was concerned that the CPA would outweigh the revenue. Mark, however, saw potential when Felix and Jordan explained the advanced applications of their technology for new customer segments. After some negotiation, they agreed on a deal at 25% equity for the requested investment.
The third pitch was for "Intelli-Stopper Technology," a wine bottle stopper with an air indicator presented by Chase and Bob Hoyt. They sought $250,000 for a 10% stake in their business. The stopper extended the shelf life of an open bottle of wine from two days to two weeks. They had achieved sales of $150,000 the previous year, and this year's projections were $300,000. They also had a locked Better Business Bureau (BBB) rating and had plans to expand their product line to include olive oils and coffee. Barbara didn't see enough differentiation in the product, and Mark, not being a wine enthusiast, opted out. Lori saw similar products already available and declined. Robert didn't see it as his type of investment, and Kevin believed the valuation was too high. As a result, the entrepreneurs did not secure a deal.
The fourth pitch was for "Fort Magic," a building and construction toy presented by Erika Pope. She requested $75,000 for a 15% stake in her business. The toy had generated sales of $150,000 in 18 months, exclusively through Amazon. The kit consisted of 384 pieces, packaged in a box measuring 26 inches by 10 inches by 10 inches. Kevin pointed out that the large box size could pose challenges for retail distribution. The product had a pending patent, and each kit sold for $200, with a production cost of $40. The entrepreneurs had invested $250,000 into the business and received an additional $200,000 from another investor for a 35% stake. Barbara and Mark opted out due to their reservations, while Kevin and Lori were deterred by the toy's expensive nature. Robert offered $75,000 for a 50% stake, but Erika countered with 25%. Ultimately, Robert stuck to his offer, but Erika declined.
Finally, there was an update on Charles Michael Yim and his business, Breath-O-Meter. In a previous episode (502), Charles had secured deals with all five sharks for his smartphone-based breath analyzer. Before entering the tank, he had achieved $140,000 in sales, but within three months after the show aired, sales had skyrocketed to $1 million. Charles was working with Kevin for international distribution, Lori for QVC, Mark for new product development, and Daymond and Robert for retail sales. Additionally, he was planning to launch new functionalities in the medical space.
Contribute to this page
Suggest an edit or add missing content