Shark Tank Premiere Goes Live With Uncut Pitches
ABC’s Shark Tank went live Friday night for its season 14 premiere. Which culminated in a proposal unlike any other. Mark has no interest in a part of the company; He wants the whole damn pie. So as they go into the final commercial break. He asks Tate to think about how much it would cost to buy his company outright.
Shark should take advantage of this and invest
For the first time, Mark Cuban, Barbara Corcoran, Lori Greiner, Robert Herjavec, Daymond John, and Kevin O’Leary were joined by a studio audience. Because they were presented with unedited, unfiltered pitches from promising entrepreneurs. And for one night only, the domestic audience was asked to heed. Whether our shark should take advantage of this and invest.
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Jeff and Stacey Grace own five percent of the company
Jeff and Stacy Grace enter the tank demanding $200,000 in exchange for five percent of their company. Kent, manufacturer of the world’s first compostable underwear. When their time is up, you can literally put on your pants. They’re on pace to make $500,000 this year, but they’ve valued the company at $4 million ouch. Not in their favor either: A pair of their eco-friendly skivvies cost between $20-24. Which is more than the average American. Wow, Robert goes with Barbara, and he offered $600,000 for 10 percent.
Robert then goes to the studio audience to show his hand
Mark tapped out, followed by Daymond. Barbara offered him $200,000 for 20 percent. But this significantly undermines their valuation. Robert then goes to the audience in the studio to show his hand. To see how often the average American buys new underwear. ABC then opens the poll for viewers at home to weigh in during the commercial break. After seeing the results, Robert makes an offer to the couple: $200,000 for 15 percent. Lori matches that offer, then Daymond jumps back. The same offer came in the hopes of partnering with Jeff and Stacey Daymond, so they accepted his deal.
Then Barbara comes up with a proposal of her own.
Cena and Nina Farzin enter the tank demanding $400,000 for five percent of their company. OgiBear is a product line that helps babies and parents breathe more easily. It’s an $8 million valuation, but they have sales to back it. Since 2015, he has earned over $15 million. This year alone, they’re on track to do $5.4 million in sales — and $1 million in profits. They raise the equity to 12 percent. Then Barbara comes up with a proposal of her own. $400,000 for 10 percent – and if she can’t bring her sales to $400 million in two years, she’ll give them half her stock back.
Kevin cuts Nina to make a deal
Kevin cuts to Nina to make the deal. Believe it or not, he says, his portfolio doesn’t have a nose pick. Therefore, he offers them $400,000… for 10 percent of the company. Daymond taps, then Lori jumps in. But before he makes an offer to them, we have our second audience survey. Do you find it difficult to choose a baby booger? The results apparently don’t have any real effect on Lori’s decision. Joe comes up with an offer: $400,000 for 10% but she wants Mark to go with her.
Tate Koenig who appeared in season 12
Tate Koenig, who appeared in season 12, left without a deal for Cheese Choppers. Returns with Pizza Pack, a collapsible pizza storage container that can store a slice or a whole pie. And comes with five divider trays that not only keep the slices separated during storage. But microwavable pizzas double as plates. You can reheat the entire pie in the container at once. He makes them for $4 per pack and sells them for $24.99. In just five months, he has raked in over $250,000 in sales. He wants $100,000 for 10 percent of the company.