Narrator:
Tonight on "Shark t*nk"...
It's time to Yono!
As chief rule-breaker,
it's my job to break some rules.
I thought they were
gonna taste like sand.
That's gross, right?!
Do you have any other debt?
-Oh! -Ooh. Ooh!
I'm fighting not to go out.
You know, you're not gonna find
two more committed people
to work with.
This is un-investable.
You have no idea how hard
this is going to be.
That is terrifying.
You're putting your home
at risk now.
I'm gonna just jump right in
right here, right now.
Is that not a compromise?
Whoo!
No balls, no babies.
Yes, ma'am!
♪♪
Narrator: First into the t*nk
is a simple device
that everyone can use.
♪♪
Hey, Sharks.
My name is Michael Green.
And I'm Bob Mackey.
We're from Atlanta, Georgia,
and we're the inventors
of the...
Both: Yono Clip.
In exchange for 15%
of our company,
we're here seeking $150,000.
Okay, Sharks. Here we go!
You're at the gym.
You're about to get
on the elliptical
or on the spin bike.
But then you realize,
you don't want to lay your towel
or your purse or your gym bag
on the floor.
Why not, Michael?
Too many germs and dirt!
Restaurant or the coffee shop?
You're not gonna
just lay your purse
or your baby's diaper bag
or your laptop bag
down on the floor.
Why not, Michael?
Too many germs and dirt!
[ Laughter ]
Public restrooms?
Incredible germs and dirt!
The Airport?
International germs and dirt!
Diaper changing station.
Smelly germs and dirt!
Michael's house.
There's a few germs and dirt.
In fact, Sharks, we believe
there's only one way
to avoid germs and dirt,
and that's the Yono Clip.
And it's time to Yono!
And with the Yono Clip,
it's as simple
as press, pull, hang.
Simply take the Yono Clip,
attach it to any flat
non-porous surface,
pull back the center lever
to increase the suction,
and then you just
take your things
and hang it on the center lever
on the carabiner clip.
And then you Yono.
[ Laughter ] John: Get it!
That's a nice bag,
but, brother, those moves...
do 'em again.
And then you Yono.
Get it! Get it!
Sharks, let me see you Yono!
Yeah.
And then you Yono.
And then you Yono.
-There you go! -There we go!
Green: That's what
I'm talking about!
And with the Yono Clip,
it doesn't matter
if the surface is vertical,
horizontal, or a diagonal.
You simply press, pull,
and hang.
Attach it almost anywhere.
Take it almost everywhere.
Especially in the age
of COVID-19.
This compact, inexpensive,
portable device
keeps your possessions
close by...
Off the floor...
And free from...
Together: Germs and dirt.
Okay, Sharks.
There's only one question left.
Both: Who wants to Yono?
[ Light laughter ]
Y'all need a stand-up routine.
[ Laughs ]
I like that, man.
So, now this, you said,
goes on to any
non-porous surface.
That's right.
So, let's talk about that.
Metal...
Green: Metal. Yes.
...glass.
Glass. Glass, plastic.
What won't it work on?
It won't work on brick.
Painted surfaces.
It won't work on brick.
Greiner: Brick.
So, one is, this is
very tacky and sticky.
Yes. Yes.
And then when you
pull this out, right...
Yes.
...it causes a suction.
It -- Backdraft.
Yes, and also,
I think it'll really help
if we show the video. Yeah.
Oh, we'll go to the video.
Yeah, go to the video.
The Yono promo.
And one of the greatest things
about the product
is it attaches, like I said,
to a vertical, horizontal,
or diagonal surface.
A lot of people
look at the product
and think of a purse hook
on steroids,
but when you think
about a purse hook,
it only works on this level
of the surface here.
Greiner: Right.
It won't work under here,
it'll never work vertically,
and with the Yono Clip,
you can attach it
almost anywhere.
John: I'm just curious.
Why didn't you make a little bit
more of a curve on it
or a double side to then post
on things like this?
I mean, maybe that's
rendition two.
Greiner: You could,
couldn't you?
Well, in that position,
you can actually hang it
from the carabiner clip,
so if it's upside down...
Mackey: It hangs down.
John: Oh! Yes, yeah, yeah.
There you go. Yeah.
We're not playing around!
You thought of that already!
We're bringing the heat!
Oh! That's what
I'm talking about!
You about to be rich!
Hey, we can be rich together.
We can be rich together.
Well, let's talk about
you guys, right?
Yes, yes, yes.
Bob and I actually met
which is a youth
technology summit,
and ever since that time,
we've been great friends.
I personally own a company
called Science for Everyone.
I present interactive
science shows
at schools and other venues
all across the country.
What kind of science shows?
Corcoran:
You're a great performer.
Green: It's physical science,
earth science,
and for me, personally,
the Yono Clip is so much more
than a product.
It's like a light house.
Right, you can demonstrate
the science behind it
and everything, yeah.
Absolutely.
Every day, I encourage children
to be the best version
of themselves,
you know, and I use science
as the medium to do that.
Greiner: And so, Bob,
what about you?
Yeah, so, the reason why I was
at the actual STEM Fest is,
I was a speaker.
Many of the kids
are disadvantaged youth,
and I grew up
as a disadvantaged youth.
I'm a high-school dropout,
I had to help provide
means in the home,
and then, eventually,
I went back,
obtained my GED,
and went to a four-year college.
I became president
of Boys & Girls Clubs
of North Central Georgia,
and that was a huge
accomplishment for me.
I wanted to be that person
that I never had.
-Good for you. -Good for you.
Good for both you guys
for what you do. Thank you.
And we became
pretty good friends.
And it's so hard
to find good people,
and I said if we ever
do anything business-wise,
I wanted to make sure it's
somebody that I can believe in,
somebody that I can count on,
and somebody who doesn't mind
putting their feet in the mud
to make something happen.
You said that
exactly how I wrote it.
[ Laughter ]
Cuban: That's great.
Let's talk sales.
So, regarding sales,
we're a fairly new company.
Within two months,
our sales are right at $14,500.
Two months old?
Two months. Two months.
Green: Two months old.
You're a brave man. Yes.
How much did it
cost you to develop,
you know, the R&D on this?
We actually launched
a Kickstarter campaign,
and we raised $10,000 in a day.
And the $14,000 in sales
you talked about,
Correct. Yes.
And other 4,000 came from where?
On our website.
And then also at the gym.
Guys, what do you sell them for?
What does it cost you to make?
Right now, we're making them
in our homes, in garage.
They're 3-D printed,
and they cost retail $20.
It costs us 10 bucks
to make them.
Well, that's still
kind of expensive.
Yes, but --
That's one of the reasons
that we're here...
Yes.
...is because we need
the capital investment
so that we can go
from 3-D printing
to a molded design.
That'll bring the cost
of the clip down to about $5.
Greiner: You're, like,
at proto stage.
You're really just beginning.
Yes, we can only
print 10, 15 a week.
Right.
You're literally making
this whole component
by hand in your garage?
Yes. Yes, we are. Absolutely.
Reminds us, you were making
those FUBU shirts
in the house, Daymond.
That's what it does.
[ Laughter ]
You know, I think you have a lot
of heavy lifting ahead of you.
Mm-hmm. Alright? I really do.
I think it's clever.
I think it's a cluttered market,
very competitive,
and I don't think
it's gonna sell well enough
for you to make an occupation
out of selling it.
You have much more
important skills
that changes the world
in a much more meaningful way.
So I would see this
as a side hustle
and keep it that way.
For those reasons, I'm out.
Thank you.
Thank you.
Thank you, thank you.
Guys, here's the challenge
with the product.
It's not that it's not
a great product.
It really has a utility,
but it's just not obvious,
or you don't immediately think,
"I need to go buy a product
that has a suction cup
and a clip," right?
So, that's gonna be
the challenge.
And so that's a tough road.
It's just not one that fits
really well with me right now.
So I wish you the best,
and more importantly,
thank you for what you do
for kids.
Yes. Thank you.
And for those reasons, I'm out.
Okay. [ Laughs ]
Are you familiar with a product
called DeskView
that was on "Shark t*nk"?
Uses two suction cups
to apply to windows
or other surfaces.
Yeah, for the desks.
That's one of my deals.
I already know the demand
is huge for products like this.
You have good hearts, you guys.
Corcoran: Oh, giant hearts.
And so I want you to succeed,
and I hope you get a deal here,
but I can't be
an investor in this
'cause I'm doing
exactly the same thing.
I'm out. Thank you.
Thank you. Thank you.
Greiner: Let me tell you
what I think.
I am not sure what
all else is out there.
I like to go with things
that are more unique
in the marketplace.
I will hook you up, though,
with some injection molders,
so you can comp around
the pricing, make sure --
I want two good guys like you
to get very good pricing
and make sure that you've got
a good factory on your hands.
But as far as an investor,
I'm out.
Thank you. Mm-hmm. Thank you.
Thank you.
Alright, Daymond!
It's time to Yono!
[ All chuckling ]
Ooh.
Uh...
Hmm.
I'm on the fence, 'cause
here's the biggest challenge.
You're asking $150,000 for 15%.
You're basically saying this is
a million-dollar company,
and you absolutely are nowhere
at the moment.
That's not an insult to you.
But you're gonna need molds.
You're gonna need social media.
You're gonna need trademarking,
legal advice,
shipping, packaging.
So that's what
I'm wrestling with.
I don't want to insult you
and ask you
for 50% of the company.
I don't want to get
to work on this thing,
but I want to support you.
I'm really wrestling
with this, guys.
♪♪
Narrator: Four Sharks are out.
Daymond is Michael and Bob's
last chance
for a deal for their company
Yono Clip.
I don't want to insult you
and ask you for 50%
of the company,
but I want to support you.
♪♪
I'm really wrestling
with this, guys.
You know, you're not gonna find
two more committed people
to work with.
You know?
That's not even a question.
I'm just looking at my time.
Yeah.
But you know what? Um...
I can't go back to the 'hood
if I don't help you guys.
You know? 'Cause you're
changing the world.
I need the world
to see who you guys are
because I think
there's more people
needing to see heroes like you.
Well, I'll tell you this,
and I'll say --
You don't gotta
tell me anything.
I'll give you $150,000 for 30%.
Corcoran: Whoa. Wow.
Cuban: Gotta say yes, guys.
-I didn't see that coming.
-A third partner for ya.
Gotta say yes.
I thought
he was gonna say 50%.
♪♪
How about if we do
$150,000 for 20?
Oh, guys! Come on. Greiner: Wow.
John: You're asking
a million dollars
for something
that's worth 100,000.
You need to do this.
I'm telling you
the honest truth.
I've been through this journey
with this product category.
You have no idea
how hard this is going to be
just getting it to scale.
Guys, I need --
I'm fighting not to go out.
I need an answer
on my offer.
No, no, no. Slow it down.
Wait, wait, wait. I just have to
give you guys a push a second.
Okay, Barbara.
It's not just about
how much money can I get.
It's about who you get
as a partner.
You can't get a more
loyal partner than Daymond
before you --
O'Leary: Give him a third.
Make him a third partner.
And to Mark's point,
you walked in, and you said
you want good people.
Daymond's good people.
Green: Okay.
He'll do the 30.
Alright.
So, I'm gonna give you guys
one last sh*t, I think. Okay.
I will give you the $150,000
that you asked for
for 30%.
Do you accept it or not?
♪♪
Absolutely.
[ All cheer ] Alright, baby!
Cuban: Now you gotta
do your dance.
Whoo!
[ Laughter ]
Alright. Collectively, Yono is
gonna keep people free from...
-Germs and dirt!
-...germs and dirt, baby!
Yeah! Let me see you Yono.
Give me some! Give me some!
There you go!
That's what's up
right there.
Yono!
Greiner: Good job. Thank you.
-Alright, guys. -Congrats, guys.
Good job.
Oh, do I got my work
cut out for me.
Cuban: Yeah, you do.
Oh, boy, you do.
Greiner: You do.
But you're gonna love
every minute of it.
Oh, my goodness.
We got a deal
on "Shark t*nk."
Yeah.
[ Laughs ] Oh, my goodness.
Whoo-hoo! Whoo!
I grew up wearing
Daymond John's clothes,
and now we've got
Daymond John as a partner?
That's right!
Oh, my goodness. [ Laughs ]
Who's excited? Oh, we are.
Right? Oh, man.
Love you, man.
You, too, brother.
You, too.
Corcoran: Two of my favorite
"Shark t*nk" investments
have been Daisy Cakes
and Pipsnacks.
Every one of my entrepreneurs
in the food business
is genuinely nice,
and they really love
what they do.
For me, they make
really great partners.
After each of these guys
dropped out,
they bent forward, I noticed,
and had another bite.
Nelson: I pitched
my family recipe cakes
on season 2 of "Shark t*nk."
Making that deal with Barbara
has totally changed my life
and my business.
I've been on QVC,
"Good Morning America,"
"ABC World News"
with that handsome David Muir.
Oh, I need a hug!
It's been nine years
since "Shark t*nk,"
and we've done
$8.5 million in sales.
Corcoran: You know,
you guys are winners.
I could smell it a mile away.
The last six years
has been a wild ride.
Today, Pipcorn is sold in over
including Whole Foods, Sprouts,
The Fresh Market,
ShopRite, Kroger,
and hundreds of independents
across the country.
We've sold over
and done over
$18 million in sales.
Corcoran:
In light of the pandemic,
your products are so important.
I mean, everybody's spending
more time at home,
eating a lot more stuff
that makes them feel satisfied.
We made somebody happy,
you know?
I just hope you realize
what an important difference
you make to everybody out there.
Nelson: I love it
that I have a product
that brings so much joy
and happiness to people,
because cakes make people happy,
and I am happy that I get
to make their day better.
It was important for us
to help and give back
during COVID-19.
We donated a lot of product
to front-line workers,
to hospitals,
as well as to families
who couldn't afford
to feed their kids
three meals a day
due to school closures.
There's so much more
that we want to do,
and we're so excited
that we can do that
with the support of Barbara
and our team and each other.
It's amazing.
Cuban: The reason I love
both of these businesses
is the entrepreneurs
that run them
are entirely genuine.
They work like crazy,
and they're in love
with their product,
and that's a great formula
for anyone
trying to build any business.
♪♪
♪♪
Narrator: Next up is a solution
to a concerning problem.
♪♪
Hi, Sharks. I'm Shirah.
I'm 17 years old,
and this is my brother Michael.
We're from beautiful
West Palm Beach, Florida.
And we're here seeking $60,000
for 20% equity in our company.
As a recent college graduate,
I'm no stranger to enjoying
a beverage at a bar,
restaurant,
or even a house party.
And while these environments
may be fun,
they might not be
the most safe or secure,
especially for women.
All it takes is
for you to look away
from your drink
for just a second
to end up
in a terrible situation.
Sharks, we're talking
about drink spiking,
and while it's not
so frequently talked about,
it happens more often
than you would think.
It can even happen
while you're holding your drink.
That's why I created Nightcap,
a fun solution
to a serious problem.
It's a cover for your drink.
But it's also
a super cute scrunchie.
Simply wear your Nightcap
on your wrist or in your hair,
pull out the cover,
place it over the top,
and pop in a straw.
When you're done
with your drink,
just put the cover back
into its pocket
inside the scrunchie,
and you're on your way.
And the best part is,
it's reusable.
With Nightcap,
we've created a product
that allows you to have fun,
giving you peace of mind,
knowing you're protected.
So, Sharks,
who's ready to take action,
save lives, and get covered
with the world's
coolest scrunchie?
Sharks, in front of you
is a Nightcap
to try out for yourselves.
Wow. That was fast
and really easy.
Cuban: Okay.
So I do it in my hair like this?
-Yes. -Exactly like that, yes.
This is a widespread problem
on college campuses.
And who is your
typical customer?
So, 70% of our customers
are 18 to 24,
and 98% of them are women.
As for the problem,
when we started this business,
we surveyed 100 women 18 to 25.
they had their drink spiked.
Cuban: And what does it cost?
It's $11.99 on our website.
What's it cost you to make?
We make them for $2.82 overseas,
and we can get this down
at scale to $1.60.
Greiner: How did you
come up with this?
Corcoran: What gave you
this great big idea?
Shirah: So, I came up
with this idea
because this happened
to a college friend of mine.
She was at a bar,
put her drink down,
a guy came and spiked it.
I wanted to come up
with something
so that this wouldn't happen
to anybody else.
So I slept on it -- literally,
because I came up with it
in a dream.
And when I woke up,
I went to my mom's closet,
grabbed her pantyhose
and a scrunchie,
cut them up, and created
the first prototype.
Good for you. Wow. Wow.
I actually have
some prototypes here.
Michael: Some of the original
prototypes that we had.
So, Michael, where
do you come in here?
So, I am her brother.
I get that.
And I recently graduated
from Florida State University.
I was originally planning
on going to law school.
I saw Shirah's prototype,
I saw her vision,
and being in college
for the last four years,
I understood the need
for a solution like this.
So I decided to drop everything
and help make her dream
a reality.
And now here we are.
You know I'm a numbers guy.
Why don't you tell me
the numbers?
So, we've been in business
for 11 months,
and since September,
we've done $68,000 in sales.
Nice! But [Laughs]
$40,000 of those
have been in the last six weeks.
-Wow. -Oh, nice.
Greiner: And why is that?
What happened?
You know, we're very young.
We have no business
or marketing experience,
and it took us a long time
to really figure out
what worked, what doesn't.
Originally, I was like, "Oh,
we'll just run Facebook ads.
That'll -- That'll do it."
That's not how it works.
[ Laughs ]
And so what we found
we were missing
was website optimization
and social media marketing,
and we really figured out
how to do the social media
marketing in March,
and then in April,
we redid our website.
And then in June,
we put those together
for an expl*si*n of sales,
and they've been
trending upwards.
So we've had 4,500 in May,
and 20,000 in July.
Corcoran: Good for you.
Yeah, baby!
That's awesome.
Greiner:
That's really great.
What did you
spend to get that?
And it's just the two of you
running the company
together now?
Yes.
How much did you invest
in the company?
So, we funded this company
in three different ways,
and the first way,
with all due respect,
Mr. Wonderful,
we like to call our parents
Mr. and Mrs. Wonderful.
[ Laughter ]
You can call them that, but they
have to pay me a royalty.
If we make a deal, then maybe.
Well, they believed in us,
and they helped us with $18,000
to start the business.
So, the other two ways,
the first one was
through an Indiegogo
crowdfunding campaign,
where we raised $12,000,
and through all four
pitch competitions
that we competed in
and won $15,000.
You did? Corcoran: Wow.
Have you been knocked off yet?
'Cause this isn't patentable.
No, we have
a utility patent pending.
For a cover on a drink?
Greiner: Is it patentable?
So, the utility patent
is for a drink-spiking
prevention device
coming out of a wearable.
That's good.
That's great. That's great.
I'm gonna just jump right in
right here, right now.
I love this.
I don't think that
I have ever seen a product
come into the Shark t*nk
that resonated to me more deeply
in a social mission way
as this.
Wow.
Yep.
I am worried constantly
for young women,
where women are getting
their drinks drugged,
they're getting assaulted.
It's a horrible thing,
and it's super common,
and I think this is genius.
So I'm gonna make you an offer.
I'm gonna offer you $60,000,
and I'm gonna do it
just for 25%.
Just 5% more.
I want to be a partner
right in there with you,
and I want to do
everything I can
to actually blow this up,
out on social media,
create videos.
This needs to be
in every woman's hands.
So, I hope that you hear
my passion about it
and that you take my offer.
That means so much.
Thank you.
Thank you so much.
I've never heard
Lori that passionate.
I didn't know she had it
in her blood.
You better
grab that offer and run.
♪♪
Three, two, one.
Lori, you got a deal.
Lori, you have a deal.
Yay! Corcoran: Good choice.
Kudos to you.
Fantastic. So smart.
You have somebody who's really
passionate about it.
Thank you so much.
Thank you so much.
Looking forward
to working with you.
Cuban: Well done.
Great idea.
Shirah: Thank you.
Greiner: Great idea. Great idea.
Came to you in a dream,
and now you have $60,000.
And you know what else?
You should go to bed
early tonight
and see what else you dream up.
[ Laughter ] Will do.
Cuban: Congratulations, guys.
Alright.
Thank you so much.
Thank you so much.
Looking forward
to working with you.
Greiner: Congrats.
That was pretty fast.
[ Laughs ]
Lori got this right
from the beginning.
We're so excited
to work with her
and spread this
around the world.
We're gonna save so many lives,
and we're so excited.
[ Chuckles ]
♪♪
♪♪
Narrator: Next up
is a way to cheat
without feeling the guilt.
♪♪
Hi, Sharks.
I'm Nancy Kalish
from Brooklyn, New York,
and I'm here asking for $400,000
in exchange for 10%
of my company,
Rule Breaker Snacks.
We make delectable
better-for-you
brownies and blondies.
So, as chief rule-breaker,
it's my job to break some rules,
like who says
you have to feel guilty
just because you eat
an indulgent snack?
You don't --
if it's one of ours.
How do we get away with it?
Well, let's examine
some typical ingredients
in brownies and blondies.
Take eggs, for example.
Ooh.
There are no eggs
in Rule Breaker.
And butter?
-Ohh! -Ohh!
There's no butter either.
[ Laughs ]
In fact,
no animal products at all.
Sugar?
Well, there is some sugar,
but not too much,
and it's not our first
ingredient the way it is
in some other so-called
better-for-you snack brands.
So, what is our
first ingredient?
It's...
chickpeas.
Yes, beans,
but Rule Breaker Snacks
are so chewy and delicious,
you'd never guess.
Being 100% plant-based
is better for the planet
and better for us,
but there are some rules
we never break,
such as those that keep
our snacks safe for school.
So rule-breaker
contains no nuts.
[ Light laughter ]
In fact, none of the common
food allergens
and no GMOs, no preservatives,
but they taste
absolutely incredible.
Look at all those
big chocolate chips.
Who wants to come
break some rules with me?
Please dig into the samples
in front of you.
Corcoran:
Good. You kept us too long.
You have
Deep Chocolate Brownies,
which are like fudgy
hunks of Heaven
studded with chocolate chips.
Chocolate Chunk Blondies,
Which are like soft-baked
chewy chocolate chip cookies,
Birthday Cake Blondies,
which have
white chocolate chips.
Then P'Nutter Chocolate Chip,
which taste like peanut butter,
but it's nut free.
Now let's see
how this goes. Ready?
Okay. I'm ready for you, Kevin.
'Cause I am
the ultimate connoisseur
of this kind of cookie, so...
[ Laughter ]
Wow.
They really
taste delicious.
Thank you.
I thought they were
gonna taste like sand.
They taste pretty good.
Very good.
How are you getting
that hint of peanut in there?
Well, if I really told you,
I'd have to k*ll you...
[ Laughter ]
...but I'll give you a hint.
We use sunflower butter,
ground-up sunflowers,
and a little other magic
by roasting our chickpeas
in a certain way
that brings out
their natural nuttiness.
You know, I-I mean, wow.
And it says
this is 250 calories.
Yeah.
What would a normal cookie
around this size,
with all the bad stuff in it,
be around?
Well, it's like at least,
you know,
Cuban: No, Nancy. What?
[ Corcoran laughs ]
Not for this size.
It's not gonna be
It's probably gonna be
some a little bit more,
some a little less.
So, where is the advantage?
Well, okay.
So, one huge advantage is
being allergen-free
and nut-free.
Okay.
Another thing is
being 100% plant-based.
It really is better
for the planet.
Chickpeas are a "superly"
sustainable crop.
They use really little water.
How did you come up
with the idea?
Alright.
So, I actually never thought
I would be in the food business.
I was in the magazine business
for a long time.
I was an editor at Cosmopolitan
and a bunch of other magazines.
I wrote a bunch of books,
like "The Nice Girl's Guide
to Sensational Sex,"
some other books. [ Laughter ]
And then I became
a health journalist,
and so I had interviewed
literally hundreds of doctors,
nutritionists, dietitians,
and I knew exactly what to eat
to be healthy.
And I have always had
the worst sweet tooth,
and I just decided for myself --
I was getting a little tired
of being a journalist, frankly,
so I actually thought to myself,
"How hard could it be
to start a food company?"
[ Chuckles ] Oh! "I'll do that."
It's brutal, really,
and something --
That's an understatement,
isn't it?
[ Laughs ]
Nancy, where did you start
selling your cookies?
I booked a booth
at one of the huge trade shows
and managed
to get my cookies made
and found a co-packer
and got my packaging done,
and luckily,
I was discovered by the buyer
for Whole Foods Northeast. Nice.
And only problem was
that our products,
at that point,
had a very short shelf life,
and they had --
Now they're shelf stable,
but they had to be delivered
frozen to Whole Foods.
Whoa. Oh, wow. That was hard.
And the distributor
had made a mistake
and stored them
at room temperature.
So, they arrived --
The first order arrived
at 40 Whole Foods
in the Northeast spoiled!
Welcome to the food industry,
right?
-Oh. -Wow.
[ Laughs ]
You're laughing
about it now.
Oh, my...
Oh, I almost fainted,
and luckily, I had a huge
stash of product at my house.
So I just got in my car,
and I started driving
to Whole Foods all over...
Good for you. Good for you.
Corcoran: Good for you.
...and pulled the spoiled stuff
off the shelf
and then replaced it.
That's called detailing.
I'm surprised you weren't
arrested for shoplifting.
Detailing.
I know, right?
How long ago was this, Nancy?
This was about
four and a half years ago.
Nancy, that's a crazy
chicken story.
So, how much
have you sold to date?
So, our lifetime sales
is 1.3 million.
Okay.
Nice. Great.
Last year, we did 500,000.
That's a nice ending
to that story.
Did you make any money
on the 500,000 last year?
No. We're still not profitable.
We are on track to break even
next September.
We got into the biggest
supermarket chain in the US.
How is the sell-through?
We sold, I think,
Wow.
What does it take to break even?
It's gonna take till we reach
about $1.7 million in sales.
How much money did you put
in the business?
So my total investment is --
I put in $1.6 million.
Hello! What?!
Eeh, Chihuahua! Shut the door!
Car-r-r-r-amba!
Was this your own money?
Yes. Wow!
John: 1.6 million?!
That's a lotta cookies.
No balls, no babies.
Yes, ma'am! [ Laughter ]
Do you have any other debt,
as well?
I do.
I have an SBA loan for 123,000.
I also have a home equity
line of credit,
which I draw on,
and then pay back.
Corcoran: My God.
Oh, my goodness.
So, all in, how much --
How much home equity credit
have you used up for this?
Uh... right now,
it's about $600,000, I guess.
-Ohh! -Ooh!
So you're in for 2.35?
Na-a-a-ncy!
What is your biggest expense?
Are there any large
singular expenses?
Yeah. Trade spend, basically.
Promotions, couponing,
slotting fees...
Oh, you fell sucker for that.
Okay. I'm sorry. Ohh.
...refills, co-packer issues.
They were making you put --
Ohh, I'm so sorry
you went through that.
Which I've solved, by the way,
but yeah.
Okay.
Let's talk about your margins.
Greiner: That's great.
Because there's a -- 53%.
Okay, wait. One of these --
The retail price
to a consumer is...?
Is $1.99 to $2.99.
What do you sell it
to the grocery store for?
$1.05. $1.05.
And it costs you...?
So you got to sell
a boatload of cookies
in order to do this. Yes.
Oy. You're right.
Your margin is more like --
Oy, oy, and double-oy.
Your actual margin
is probably about 15%.
You can ship this
directly to the customer
and forget about grocery
completely.
That model can actually exist.
Yeah, what are
you doing online?
We had already been
selling on Amazon
and doing pretty well
every month.
It was 35% of our business
in January.
Now it's 55% of business. Wow.
You know, I wasn't crazy
about the flavor profile.
The peanut butter one
tastes like a protein shake
a little bit.
I mean, I understand you have to
sacrifice flavor for the health,
but you don't want a partner
who is not really in love
and obsessed with the product.
I can -- Yeah.
This is just not for me,
so I'm out.
Okay. Thank you, Daymond.
Greiner: I think you've done
an amazing job.
You've created a product
that I happen to really like,
but I just think it would be
a really, really long time
before I would
see my money back.
I will be a customer,
but unfortunately, I'm out.
Thank you. Well, I want you to
know I am very open to a loan.
Yeah, but --
but Nancy, look -- look.
You're repeating
your same mistakes.
You're gonna have to
go against your home
equity loan some more,
and that is terrifying,
and it should be terrifying
'cause effectively,
you're putting your home
at risk now.
And so please be careful, right?
But for those reason, I'm out.
Okay. Thank you, anyway, Mark.
What I love about you,
and I'm sitting here
dying to give you money,
is you're so damn happy.
I would be miserable.
Well, I'll tell you,
Barbara, honestly and truly,
my eyes pop open
every morning at 5:00 a. m.,
and I cannot wait
to get to my desk.
Good for you.
But that same optimism
is what got you into the debt
in the first place.
You're asking all of us
to buy into a debt more
than a business...
Well --
...and so for that reason,
I'm out, also.
Okay. Thank you,
anyway, Barbara.
O'Leary: Your business
is worth between
$800,000 and $1 million, okay?
So, to give you $400,000,
I'd have to get 50% of it.
This is un-investable
as it stands right now.
If you only want to sell
that's worth 100 grand.
The rest you have to
take on as debt.
I mean, I'm feeling guilty
just thinking about that offer.
And I'm sorry, Nancy. I just --
I can't go down the journey
with you.
I'm sorry. I'm out.
Okay. Well, thank you, anyway.
We wish you the best, Nancy.
All the best.
-Thank you.
-Good luck with it, Nancy.
-Alright. -Alright.
Kalish: Bye, guys. Thank you.
Good luck.
Congratulations, Nancy.
So, I didn't get a deal,
but I got a lot of great advice
from the Sharks,
and I'm certainly gonna take it.
They talked about focusing
my business online,
which is how I want to go,
and it's a clear
path forward to success
and breaking the rules
far into the future.
Rule Breaker is where
chickpeas go to die.
♪♪
♪♪
Narrator: Next up is a solution
to an ecological consequence
from a favorite winter sport.
♪♪
Whoo!
Sharks,
I have traveled far and wide
through mountains and snow
to be here in the t*nk
with you today.
My name is Peter Arlein.
I'm from Carbondale, Colorado,
and I'm here seeking $250,000
for 10% equity in my company,
mountainFLOW Eco-Wax.
As a passionate skier,
I love spending time
in Colorado's
beautiful Rocky Mountains.
And like millions
of other skiers,
I'm using a lot of ski wax
to make sure that my skis
are running smoothly
in every type of snow condition.
But, Sharks, did you know...
that nearly all
the ski wax in the world
is derived from petroleum?
That's right.
The same fossil fuel that's used
to make gasoline and diesel.
That's gross, right?
And whatever
you put on your skis
goes directly into the snowpack
and then into
your drinking water.
Aaah!
[ Laughs ]
This is tons
of petroleum-based wax
in the environment
every single winter.
That's why I created
mountainFLOW,
the world's best
entirely plant-based
ski and snowboard wax.
It's biodegradable,
and it works just as well
as a conventional
petroleum-based wax.
Our patent-pending formula
has been rigorously tested,
and it's proved to be
just as fast or faster
than any comparable wax
on the market.
In fact, we already have a team
of world-champion
skiers and snowboarders
who are using our eco-wax
and doing their part to keep
the mountains free of petroleum.
So, tell me,
who's ready to hit
the slopes, ski fast,
and be green with mountainFLOW?
Sharks, in front of you,
you'll see some samples
of our product,
and over here, I'll show you
exactly how it works.
MountainFLOW
is super easy to use.
It's the same exact process
as a regular
petroleum-based wax.
You just drip the wax
onto the ski...
...and then iron it in.
Just like that.
Once this cools,
you're ready to hit the slopes.
When I'm skiing --
and I'm very particular
about my equipment
because I'm so good at it.
By the way, as an aside,
I have never skied
against a man I didn't b*at.
Any age. Is that a challenge?
Good for you.
My experience is everybody
drops it off at a shop
and gets their skis waxed.
It's cheap. I think I pay
Would that be right? Yeah.
And it's perfectly done.
I have no idea how they do it.
But the next morning,
my skis are perfect.
Who is your demographic?
We're targeting
all of the markets.
So, we're going after
the direct-to-consumer market.
These are people
who are comfortable
doing it themselves.
Do you sell it to the ski shops?
We do.
So, if you can imagine
a ski town,
there's 10 ski shops
on the same street.
What are you holding there?
So, this is a quick wax.
So for people who don't
have the equipment --
the iron, the set up --
this, anybody could use.
Oh, that's different.
And so it goes more to that
direct-to-consumer market.
It's like this.
A pad is in there.
You just rub it on your skis,
and that's it.
Why does a person
need to wax their skis?
What happens when you're skiing
is that the snow crystals
are actually grinding
against the bottom of your ski.
So, if you have no wax,
your skis are gonna be slower.
So, with the wax on there,
what's happening is
that the snow crystals
are pulling wax out of the ski.
That's why it's so important
to use an eco-friendly product,
'cause, literally,
the deposition into the snowpack
Ah... is how the wax works.
I'm probably
the only snowboarder up here.
I call myself Chocolate Powder.
When I don't have time
to go to Utah,
I snowboard in New York,
and that's like snowboarding
on a Brillo pad, right?
Right.
The snow can be
sort of horrible.
Or ice.
So I need to wax all the time,
or, I mean,
it has no performance.
What are you making it for
right now,
and what are you selling it,
the average price?
Average price is $16 retail.
We make it for $2.50.
That's great, great margins.
So then next question,
obviously, is,
tell us about your sales.
Yep.
Last year,
we did $150,000 in sales.
This year,
we're projected to do $750,000.
Oh, good for you. Wow.
$750,000? Wow. What's the bump?
We're moving international,
and we're also adding
a line of race wax
to our product.
Switzerland, for example,
has just mandated no petroleum.
It's not petroleum,
but it's fluorocarbon.
That can't hurt you.
That's gonna help you
immensely, right?
Oh, it's huge for us.
Same with France.
Same with Germany.
Same with Austria.
The whole world.
The United States, too.
So, Peter, listen.
I love innovation,
especially when it's better
for our environment,
but I'm just not a skier,
and I really didn't
even know much
about waxing skis at all.
So, it's not the right
investment for me.
Unfortunately, I'm out.
Well, thank you, Lori.
My problem is, I've never
skied in my entire life.
So I'm out.
Okay, but we might have to take
you skiing, even if you're out.
You might have to take me
skiing someday.
And when I do,
this is what I'm gonna buy.
The one thing
I wanted to mention,
and I mentioned it
a little bit in the pitch,
but we have some of the best
skiers and snowboarders
in the world
on our pro team, using our wax.
We just signed the
number-one skier in the world.
He won the overall
and he's signed on
to use our wax
and promote it this year.
I'd like to make
an offer to you.
I'm really surprised
I'm offering
because usually when someone
walks into the t*nk,
I take one look at their face,
I think, "I'm out."
And when I looked at your face,
I said, "Goofy guy. I'm out."
You just have that
big goofy face, you know?
But I'm falling in love with it.
You're perfect for the part
of selling to ski shops, right?
I mean, who wouldn't believe
a word of what you said, okay?
So, I'd give you the $250,000,
but I must have 20%.
Thank you, Barbara,
for the offer.
How would you like an offer
from somebody
who's not gonna
insult you first?
[ Laughter ]
I like it. I like the deal.
I really do.
I'm also a skier,
and I'll do the deal for 15%,
just to squeeze
Barbara's head a little bit.
And you know why
he's doing that?
Because we were gonna
do the deal together...
but she got greedy.
...and he's a baby.
He's upset that I left him out.
I'm not offended at all.
Would you want to be
in a partnership
with a guy who acts
like a baby?
I'm not offended at all.
She could be useful.
I'll tell you what.
I'll let her back in the deal,
but you got to give us 20%.
Okay, I'll go with him with 20%.
So you get two Sharks.
I'll tolerate him.
'Cause I don't get out of bed
for less than 10.
What do you think about that?
Do you want two Sharks?
I would love two Sharks.
Daymond, I'd like to check in
with you before I continue.
I don't think he skis.
-He snowboards. -He's a boarder.
Chocolate Powder. Yeah.
Listen, my last book,
I highlighted Lindsey Vonn,
and I want to bring this to her
and maybe beg her
to be part of my ownership.
So I'm gonna offer you
the $250,000 for 25%.
Ooh!
♪♪
Narrator: Two Sharks are out.
Peter has two offers
on the table
for his environmentally safe
ski wax company,
mountainFLOW Eco-Wax.
John: In my last book,
I highlighted Lindsey Vonn,
and I want to bring this to her
and maybe beg her to be
part of my ownership.
So I'm gonna offer you
the $250,000 for 25%.
Ooh!
Lindsey Vonn is
the most winningest skier
in history.
But he's got
the number-one skier.
She is an amazing skier,
Daymond,
and thank you for the offer.
too much for me.
I can respect that.
I would just have to split it
in the event that she wanted
to do it with me, that's why.
Lindsey Vonn is amazing.
She's an icon for the sport.
But we have a huge roster
of pro skiers and snowboarders
that are already
using our product.
Barbara, Kevin, I would love
to have both of you on board.
Unfortunately, 20% is too much.
I can do 15%.
Just think about
the value of two Sharks
that are actually skiers
that have different
skill sets and teams.
And in the long run,
we have to compete,
because in Europe,
everybody has to
convert to this.
We're gonna have competition.
We already have it.
So you want to drive
and get out there
as fast as you can.
Give us the extra,
you know, 500 basis points
or 5%, and it's worth it.
It's just worth it.
I like the deal with Barbara,
I want to do it with her,
and I want to get 10%.
John: I'll alter my offer.
I'll do it for 15%
if I cannot get Lindsay,
and I will do it for 25%
if we can bring in Lindsay.
Think about all the earn--
We call it earned media.
You don't have to pay for ads
and a lot of other things
when you have one
of the most recognizable people
in history in the space.
Thank you, but that's --
it's still too much.
Okay.
And in addition,
having that 10% for Lindsay
just seems like a lot of money.
I don't doubt that
she would bring value,
but I think it's too much
to give her.
Greiner: I have a question
for you, though.
You have three offers.
Yeah, you can counter.
You can counter.
Again, for 15%, I think
that's a really fair deal.
I would love to have
both of you on board.
No, 15%, I'll take it.
What do you say?
I'll throw him under the bus.
So you only get
one Shark --
I would rather have you
throw him into the deal
and do it together.
Why not do 17 1/2,
meet in the middle...
It's not enough to share.
...and you get two Sharks?
It's 2 1/2%.
I'll do 16%.
That's an even 8% for you
and an even 8% for you.
You know, Peter,
what's wrong with that?
It's under 10%.
Peter, enough's been said.
I think now it's your move here.
How do you feel?
You got a couple
of deals on the table.
What do you want to do?
I could do 16%.
I'd love to have you
both on board.
You'd add a huge value to the
team, and we're all gonna win.
Peter, what if they say no?
And we can go skiing together
once the deal is done.
Yeah, very nice, Peter,
but everybody wants
to ski with me, quite honestly.
That's how good I am. [ Laughs ]
Okay. A deal sweetener.
We'll give you an extra $50,000
for the 20%.
So, we'll increase our in
by 50,000, to 300,000,
but we each get 10%.
Is that not a compromise?
Um...
So that's $300,000 for 20%.
Exactly.
Cuban: 1.5 million, yeah.
♪♪
Um...
You got a deal.
-Yay! -Yes.
And I'm going skiing
with a big smile on my face.
I'm going with you!
I want to know who wins.
Honestly, I'm excited.
I think we can do
some amazing stuff here.
I mean, really.
Thank you so much.
Thank you! Take care.
-Congratulations, Peter.
-Thank you.
[ Grunts ]
All of the Sharks
understood the problem
and understood how mountainFLOW
can help solve that problem
and the potential for the brand.
So, to get two Sharks on board,
it's huge.
O'Leary: Somebody's gonna
buy this company.
I'm gonna make sure
that happens.
Corcoran: He's quick enough.
He's nimble, this guy.
No, he's smart.
I love this guy,
and I love this product.
I started to not
like the guy at all.
[ Laughter ]
♪♪
♪♪
♪♪
♪♪
12x12 - Episode 12
Watch/Buy Amazon Merchandise
Shows entrepreneurs making business presentations to a panel of five venture capitalists (investors in start-ups) called "sharks" on the program, who decide whether to invest in their companies.
Shows entrepreneurs making business presentations to a panel of five venture capitalists (investors in start-ups) called "sharks" on the program, who decide whether to invest in their companies.