Episode 11 Recap
Here is a quick recap on what happened last Friday night (12/05) in the Shark Tank!
Biaggi – 500K for 30%
Steven from Brooklyn, New York was in the shark tank first with his idea, Biaggi. The inventor showcased his inventive “foldable” luggage for the sharks and presented a valid case for why the product could be a game-changer for travelers. With 2.5M in sales over the past 2 years, the company has done well but struggled with educating the consumer.
Mark: “Not a business I want to be a part of”
Lori: Offered 500K for 33%
Robert: “I don’t see it”
Kevin: “Requires demonstration” to use product
Daymond: Offered 500K for 33%, but then steps out when he discovers Steven wants to get Biaggi on QVC.
Deal with Lori Greiner, 500K for 33.3%. Creative idea and awesome pitch Biaggi!
S.W.A.G. Essentials – 125K for 20%
Lydia Evans from Houston, Texas was up next in the shark tank with her Soaps, Washes, and Grooming products – S.W.A.G. Essentials! The all-natural products are homemade and created with care, using up to 63 different secret ingredients in each bar. The first year in business S.W.A.G. Essentials did 54K in sales through the barbershop and online sales. Lydia entered the tank in hopes a shark could help her move the business from her kitchen to a warehouse, increasing production substantially.
Mark: “The risk reward is not worth my time” – Mr. Cuban was out.
Lori: Thought the product was “Not tested or proven yet” – She was out.
Robert: “Don’t know what a loofa is” – He was out.
Kevin: Thought that it was “too early” for him to get involved. – He was out.
Daymond: “I would not be of help to you” – He was out.
No deal for S.W.A.G. Essentials. Great pitch by Lydia!
Gameday Couture – 500K for 20%
Shawnna and Kurt Fedderson were up next in the shark tank looking for an investment for their business, Gameday Couture. Shawnna’s idea was to create trendy and fashionable products, while still keeping the traditional “game day look”. Instead of piecing together something to wear to a ball game, Gameday Couture provides fashionable outerwear that “allows you to express your personality and your style while representing your team colors”. The team has done 1M so far this year in revenue, have about 37 licenses for collegiate gear, and make great margins on all of their products.
Robert: “Doesn’t think that it’s worth it” – He was out.
Kevin: “I think you over priced your business” – Mr. Wonderful was out.
Daymond: “Still not through current inventory” from his last project – He was out.
Mark: Offered 500K for 20%, but will require company to make Dallas Mavericks gear!
Lori: Gameday Couture took Mark’s deal before Lori had a chance to offer!
Deal with Mark Cuban, 500K for 20%. Congrats Gameday Couture!
Zipz – 2.5M for 10%
Andrew McMurray from Scarsdale, New York was up last in the shark tank on Friday night with the “on-the-Go” wine. Zipz wine is a durable plastic wine glass that has a twist off cap. Andrew described the product packaging, “is going to become to the wine industry what the aluminum can became to the soda industry”. The company has already had 8.5M invested, has done 650K in sales over the past year, but needs a shark to help scale the business.
Mark: “Wasn’t interested” – He was out.
Lori: “Brilliant design, but its all too complicated” – She was out.
Robert: “Doesn’t like the path” the company was on – He was out.
Daymond: “Not comfortable with this amount of risk” – Daymond was out.
Kevin: Offered 2.5M for 10%, but with option to buy stock at 25M valuation.