Shark Tank Season 1 – Episode 8
In this episode 4 entrepreneurs swam with the sharks, one in an online study guides business, another in a toy business, third sells socks in 3's and a the last entrepreneur sells belt as fashion accessory. Only 2 will be accepted by the sharks, can you guess who?
First up were D.J. Stephan & Sean Conway with the business,Notehall, a website that buy and sell notes and study guides to college students from the University of Arizona. The company gives the onwer of the notes 40% and keeps the rest as transaction fee. Today, 40% of the students of the university were using this site. They were asking for $90k for a 10% stake for the expansion of the business to other schools. Kevin H. and Daymond was out.
• Kevin O. bids $90k for 51%
• Barbara offered $90k for 50%.
• The two entrepreneurs countered for 15% and that they will give the shark investor their share of the company if they don't hit $1 million revenue over the next year.
• Noone got interested but Kevin O. gave them another offer of 35% for $90k.
• Barbara countered for 25%.
• Robert came offering $115k for 35%,
• Kevin O. offered the same,
• Barbara added that they can buy her out of the business in 6 months by giving her money back with 20% interest.
• RObert and Kevin O. joined force to offer them $90k for 25%.
• D.J. and sean chose to deal with Barbara.
This is where Kevin stands and followed them outside the shark tank telling them that they make a big mistake.
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Second to swim with the sharks was Lisa Lloyd, owner of the Treasure Chest Pets, a new patented line of organizers with secret compartments that look like fun stuffed animals for girls and boys. They feature attachable pillow heads to snuggle up with and specially designed bodies that organize and store treasures on the inside and out! Lisa asked for $150,000 for 25% stake. She stated that she sold over $100k but can't provide more because of lack of capital. Both Kevin O. and Kevin H. were out.
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Edwin Heaven faced the sharks with his socks business to offer. Throx, The cure for the missing sock. This contains 3 socks, so when you lose one, you still have a pair. Edwin asking for $50k for 25% share of the company. They all think that it's a novelty item and that they won't make bigger money with that idea. They all jumped out of the deal. |
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The last to convince the sharks was Danon Beres, who is in a clothing line business. Washed Up Hollywood has developed a strong reputation for quality Buckles and Belts and started producing private label products for select manufacturers and entertainers. Danon asked for $500k for a 25% stake of the company which is too much to ask for. All of the sharks didn't bite, they were all out. |
The next episode comprise of entrepreneurs presenting a healthy soda, a pet food supplement, a virtual reality locomotion simulator and fashion clothes for plus size women. Find out why episode 9 created lots of confusing pitches.
