After the very successful pilot episode of Shark Tank, here’s the much awaited 2nd episode where another 5 entrepreneurs will face the Self-Made millionaires to present their products and ideas to prove them that their business is profitable and should be funded by the sharks.
First to get in the shark tank is Craig French from
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Robert Alison wants $500k for a 10% stake for his automobile device which makes the driver and the passenger safe because when Lifebelt is not buckled up the engine won’t start and if the engine is running and one of the passengers unbuckled the radio will be shut down and an alarm will play. This device will cost around $229 when installed. 2 Sharks got interested and wants 100% stake, Kevin O'Leary offered $500k while Robert offered $1 million and they were both turned down by Robert. |
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Susan Knapp is looking for $500k for a 15% stake of her company which sells gourmet food products to 650 stores. A Perfect Pear had sales of $700k with $100k in order that she wasn’t able to fill. She can’t cope up with the demand because she had problem lending money from the bank. Kevin O offered $500k for 70% share while Daymond offered $500k for 51%. Susan countered for 49% and the deal ends up accepting the 50% offer of Kevin H And Robert. |
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Mary Ellen Simonsen came into the shark tank asking for $100k in turn for 20% share of her Sticky Note Holder idea, it’s a sleeve placed in your computer that allows you to organize your sticky notes without covering the screen of your computer and as expected all of the sharks didn’t like to invest. |
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The last to face the business tycoons is Marc Furigay, an English teacher with his product, Classroom Jams, an educational record label which he designed to make students relate to classic works of literature. He asked for $250k in turn for a 10% stake. All the sharks go in together for $250k with 100% stake and Mark will get 5% royalties but Mark still wants to be a partner then Robert offered $250k for 100% with an option to buy 49% back with the profits from the business without the royalties. Mark then decided to accept the original offer of the 5 sharks. |
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Shark Tank is the
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In it's debut, Tod Wilson was the first to face the Sharks. Tod specializes in making pies and baked goods. "Mr. Tod’s Pie Factory" can't keep up with the demand, he needs funding for the facility and marketing because he has made bad business decision before and can't get loans to expand his busines, so he is asking for $460,000 in exchange for 10% equity stake in his company. The 3 Sharks said "No" and the other 2 offered $230,000 each, one for 20% and the other for 50% share of the company which Mr. Wilson accepted. |
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Darren Johnson is the 2nd entrepreneur to enter the Shark's Tank. He is looking for $1 million for 15% ownership of the company. He is an inventor of an electronic gadget called Ionic Ear. It's an implantable bluetooth technology, he wasn't able to finish explaining the benefits and the use of it because the Sharks find it so weird and they did not take it seriously. Noone got interested and he left with nothing. |
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Tiffany Krumins looking for a $50K investment for a 15% stake in her company. Her product is called "Ava" The Elephant, it's cute medicine dropper that solves the problem of giving children medicine. One of the Sharks, Barbara offered Tiffany the money for a 55% stake, which she accepted. |
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Nick Friedman and Omar Solomon was the last to get into the shark tank, they want $250,000 for 25% equity on College Foxes Packing Boxes business who provides packing and unpacking services for moving customers, they send out pretty ladies to attract customers. 4 sharks pulled out because they wanted to include College Hunks Hauling Junk, the male version of College Foxes Packing Business which was turned down by these two guys. Robert one of the sharks offered $250,000 for a 10% stake for the College Hunks and 50% for the Foxes Packing Boxes business which was also turned down by Friedman and Solomon. |
This is the kind of show business people would surely love to watch because it's very entertaining and the best part is they can get free marketing tips and advice from the marketing experts.
Here is the trailer for The Shark Tank TV Show that explains what the show is all about. As an ex-investment banker and one who swam in these waters for 20+ years plus I have my own comments on how these multi millionaires treat the average entrepreneur.
After all we (I am now an entrepreneur too) are what build our great America!
So check out the other videos to my thoughts on these Sharks!
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