12x13 - Episode 13

[bunniefuu]

Narrator:
Tonight on "Shark t*nk"...

Who's ready to drink topless?
Drink topless?

Who's ready to take a bite of...

Both: The Pizza Cupcake?
Mamma mia!

Who wants to put a beatdown
on some bacteria?

-What are your sales?
-$1.6 million.

-What? -Yes, sir.

-What? -Whoo!

You're skating
on really thin ice.

I'm not afraid of competition.

We all had trouble using it.

It didn't work.

But we have a plan, and we know
how to execute our plan.

Man, you guys are the real deal.

There's really great synergy.

I'm going to make you an offer.

-Ouch. -It's like a mob offer.

You fell into a money pit.

Does it grow hair?

♪♪

Narrator: First into the t*nk

is bedding made for
a specific consumer.

♪♪

What's up, Sharks?
My name is Wen.

I'm from St. Paul, Minnesota.

I'm here seeking $212,000

for 10% of my company,
Jax Sheets.

Pop quiz -- How often
do you think single men

on average wash their bedsheets?

Once a week?

-Never. Never. -Once a month?

No. On average, single men

only wash their bedsheets
every three months.

-Ew. -No way.

That's right. It's so gross.

Like, their pillowcases,

like, thousands and thousands
and thousand times more dirty

than a toilet seat.

That's why I had to make
Jax Sheets,

the first bedsheets for men.

Nasty, sweaty, stinky men,

who, like Mark in college,

would probably
sleep on anything.

[ Laughs ]

Our unique blend
of bamboo-copper

allows Jax Sheets to
stay fresh for longer.

So if you forget to
wash your sheets

for a year or two,
no one has to know.

But wait, guys, there's more.

Today only,
get a two-for-one special,

which includes my HercLéon
line of laundry-free clothing.

You can travel, camp,
and experience more

while packing less.

So, Sharks, who wants to put
a beatdown on some bacteria

and get in bed with Jax?

-Oh,
my gosh. -I love the name Jax Sheets.

And you guys have samples
there of the Jax Sheets,

debut edition.

That is silk and
bamboo and copper.

So we used our Jax
Sheets bamboo-copper,

and we fused it with the silk.

This feels really good.

Okay,
so is this a commercially available

copper-infused cloth?

From us, yes.

We're currently going
through a process

to get a patent
on our materials.

So, Wen,
what you're offering us today

is really two companies. Yeah.

A sheet company. Yeah.

And a T-shirt company. Yeah,
with the underlying that

they're both the
same technology,

it's just that
different applications.

Are you saying it's the
same material in the T-shirt?

No, it's not identical,

but it's the same,
like, research,

same technology, same concept.

The copper infusion. Yeah,
yeah, yeah, yeah.

So the point is
copper-infused fabrics

that get rid of odor or bacteria
and keep it fresher longer. Yes.

Yes. So, I went to Iceland,
took a little vacation,

and what I learned was that

my -- my polyester
shirts and my cotton shirts

were getting smelly
at different rates.

And I got confused by that.

Like,
why is one shirt so smelly already

and the other one is still
smelling pretty decent?

I can make it work
for two or three days.

How'd that work out for you?

It -- It didn't
work out too well.

[ Laughter ] Not very well.

I started learning as much
as I could about materials,

and I learned about bamboo,

I learned about copper,
I learned about silver,

and then I released a
shirt and everyone loved it.

And then after that they said,
"Hey, what about sheets?

The material of
the shirt's good.

Let's do some sheets too." I'm like,
"I'm down.

Why not? Let's do some sheets."

That's kind of
how I got where I --

You know what? It's smart
because it's a huge market.

You're making a
niche out of that market.

Wen,
are you selling these today?

Yeah. So these just came
out on Kickstarter in November.

It sold $350,000.

Those are your total sales? For this one,
yes.

-Of sheets. -Good for you.

Just of sheets. So
you're on Kickstarter.

Yeah. And how
much did you ask for?

I asked for -- I
think it was $10,000.

And you got to $350,000.

Yes. Wow.

I was sleeping through the
beginning of this presentation

'cause I thought you
had no sales. I'm glad.

I hope you're rested.
I'm awake now.

I'm awake now because you have sales,
okay?

Do you know what it costs
you to acquire a customer?

Yeah. The customer
acquisition cost --

I got a little sheet
here just for you --

[ Cuban laughs ] ...was $33.

$33. And what's
the average sale?

The average sale is $148.

And what do you make on
$148? What's your margin?

Our margin's about like $70.

So you spend $33 to get $70.

Yeah. I mean,
that was before COVID.

Now, it's -- I mean,
it's -- What's it now?

Well,
I can't sell 'cause I'm sold out.

Wen, you sold everything in November,
December of last year. Yeah. Yeah.

When did you
actually ship it all?

Four weeks ago.

It took forever
to get them done.

Have you sold any sheets other
than through crowdsourcing?

No, no,
because I didn't have the inventory

and I was worried about
making sure I can deliver

before I can start taking
up more responsibilities.

And the shirts, did we touch on that yet,
on how many --

Not yet. O'Leary: Why
don't you burn those?

Why are you selling T-shirts?

You can't make any
money doing that.

I might.

What are your
sales for the shirts?

So I just released the shirts' co-pairing,
which is underwear,

and so this year
we've made $270,000.

And how did you sell those?

On our website.

Your ask is $212,000 for 10%,
correct?

Yes. Why wasn't it
$200,000 or $225,000?

$212,000?

You want to know the real
answer to that question?

Yeah. No,
lie to him. Let's hear a great answer.

It's your lucky number
-- I know it. Lie to me.

No, it's because I couldn't
say $200,000 without stuttering,

so I had to find a number that
I could say without stuttering.

Because once I stuttered,
the whole thing,

I'm going to forget.
So that's kind of why.

That's a great
answer. That's it?

You're an honest guy,
man. That is --

I don't lie. I'm sorry.

So who's running this
company with you?

It's just me, myself,
in my garage

just hanging out, you know,
with my lawn chair. That's great.

Yeah,
that's -- that's -- that's my setup.

I've been there. O'Leary: Wow.

It's a good time. My
friends come over.

You're living the life.

I'm actually living it.

Like, even being here,
this is a great time.

I got to tell you,
when you pulled out the piece of paper

and said your customer
acquisition cost was $33,

how do you know that?

Because you
haven't sold anything

outside of the Kickstarter.

So I'm looking at the
amount of money I made

and then how much
it cost in ad spend

to get those customers.

But that was on
the Kickstarter deal.

Kickstarter is -- is almost
like an unreal environment.

I want to know,
if we started today,

how much would it cost
you to go get a customer?

Okay. Okay,
but you realize that the underwear business

is different than
the T-shirt business

is different than the sheet business. Is
different than the sheet business, yeah.

But here -- the thing is because
when people come to me,

they're usually campers or,

like,
people that just don't like --

I get it. But you're telling me

you're worth close to 2 million bucks,
okay? Yeah.

So I have to try and figure out,
what is the business?

But this deal has
no structure yet.

I don't care about the
underwear and T-shirt business.

Returns are horrific.
I agree. You're right.

So I would forget about that.

The sheet thing is intriguing,
okay?

Doing sheets for men
with copper infusion

to stop them from
rotting in their own beds.

I love that story.

We don't know yet the
customer acquisition cost.

And so you can't say to me

that you're worth
close to $2 million.

I don't buy it.

I mean, I said it,
but it might not be true.

I don't know.

[ Laughter ]

Cuban: Oh, my God.

So I mean -- O'Leary: It's -- It's
one of those "Shark t*nk" moments.

Cuban: Wen,
I want to hang out with you.

I want to hang out with you.

I'm just a guy having fun. I'm from Africa,
man.

Like, I'm going to tell you,
I'm from a village.

I'm a -- I'm from
a small village.

Honestly, the fact I'm here,
to me, it's great.

This is a great time.
I'm so happy to be here.

Best pitch ever.

Wen,
if the $2 million isn't true...

Yeah. ...what number
do you think is true?

Well,
my gosh. I mean... [ Sighs ]

♪♪

Narrator: All
Sharks are still in.

The Sharks are charmed
by Wen's honesty,

but he still needs to
answer the tough questions

regarding his bedding company for men,
Jax Sheets.

Herjavec: If the
$2 million isn't true,

what number do
you think is true?

Well, my gosh.

Like,
$1.8 million? That's a fair number.

Cuban: Wen, you're incredible.

Look, you are this business
and this business is you.

It's my baby. Right? Your baby,
right?

It's my baby. We
would just corrupt it.

You're doing it exactly
the way you wanted to.

Every now and then,
somebody just hits it right

and gets a business
that fits them perfectly.

I don't want to k*ll
your vibe. I'm out.

Let me tell you
where I'm at. Yes.

Couldn't love you more.

You know, we see people

that want something from us
all the time. Mm-hmm. Mm-hmm.

Those people are
honest and they're sincere,

but sometimes they're not.

And when somebody comes
out that's pure and honest

and full of joy,
that's why we get so excited.

Yeah. You are purity.

What you're not, though,
is an investable business today.

Kickstarter is not a business.

You've got to go out and
actually get customers. Yes.

You've got to go out and build the
business. Yeah, yeah, yeah, yeah.

I can't invest in it. I'm out.

I appreciate that.

Listen, Wen,
I only like to deal with entrepreneurs

that are honest and
real and up front,

and you are that whole package.

And I see merit
to what you have.

It's almost like having a
really fantastic cellphone

without service. Okay.

I feel like you have the
premise of a really good idea,

but I'm not sure
about the business,

so I'm out.

So here's what I think.

You're in three
different categories,

and they're totally different.

And you're going
to need to learn

each one of those businesses.

So that's -- that's a little
concerning. Mm-hmm.

But you can make those decisions

when you don't have a partner,
right?

You can -- You can
sit there and say,

"I'mma do this 'cause
I'mma test myself.

I'm going to do this
because I'm making money."

You can do that.

But in the -- in the
event things don't go well,

you're going to
have partners saying,

"Why are you outside
hanging out with your friends?"

I mean,
that's what people are going to say

when you have money at risk.

And you want to keep

your liberty right
now where you're at.

Okay. And for that reason,
I'm out.

When COVID hit,
I told every one of my CEOs,

"Verify your customer
acquisition costs direct."

I got lots of chickens
in the coop right now

squawking for cash

because everybody's
doing the digital pivot.

And that's the one
thing I need to know.

Do you understand your
customer acquisition cost?

If you do, Daddy has cash.

I want a return on it. But
you don't have that answer.

And so I'm sorry, but I'm out.

You don't have what I need.

You're almost the kind of guy

I'd love to see back
here with the data.

-Love to. -Yes, absolutely.

I'd love to see you back here.

Bring the data,
'cause you're such a nice guy.

Oh, man. Wow. Good luck to you.

Now you have a goal. Well,
guys, you know,

like I said,
I do appreciate this.

And no matter what happens,
thank you guys

for having me here,
honestly. Good luck to you.

Good luck, man. Greiner: You're
welcome. Thank you for presenting to us.

Thanks so much.

Congrats, man. You were
amazing. One of the best ever.

Is today a win or a loss?

Today's -- I mean,
every day is a win.

So whatever happens, I'm --

My name is Wen. All I do is win.

So, like,
there's nothing else I can tell you.

Honestly,
it's a win every day of my life.

Narrator: In season 11,

Brett Ellenson and
David Sodemann

made a deal with
Barbara Corcoran

for Boho Camper Vans,

designer vans that
you can buy or rent.

Greiner: This looks,
like, totally fun.

Sodemann: We try to
make it look like a tiny home.

Narrator: Let's see
what they're up to now.

Sodemann: Airing on
"Shark t*nk" right at the start

of the pandemic was bittersweet.

Right away,
we had our two busiest months

completely cancel
on the rental side.

We were losing
thousands of dollars a day.

We weren't sure where the
business was going to go.

With our rentals just
sitting in our garage,

we saw an opportunity to help.

We decided to donate our vans
to first responders in Phoenix

to just provide them a way

to get away from
the hospital and relax.

As the stay-at-home
orders started to lift,

we saw a massive influx
of renters coming back.

Boho Vans are
perfect for a pandemic

because they're
self-quarantined by design.

It's a really great
way to travel right now.

One of the biggest
issues for our business

has been finding a reliable
source for cargo vans.

We've now partnered with a
local dealership for our clients

to purchase a van and turn
it into a Boho masterpiece.

In the year before "Shark t*nk,"
we had done $493,000 in sales.

In the eight months
since "Shark t*nk,"

we've done $1.4
million in sales.

And we have another $1
million of preorders on the way.

You've doubled your
number of employees.

You've tripled your production.

It gives me every
reason to believe

that the sky's the limit.

Corcoran: Recreational
vans of your own

that you can put your family in

and travel safely anywhere
you want in America

is not just a trend,
but it's the way of the future.

Today, customers are putting health,
safety, and value first.

So no matter what
business you're in,

you've got to pivot
your operation

to make sure you're
meeting their desires.

You're one of the entrepreneurs

when I go to bed at night,
I don't worry about.

Sodemann: We started
Boho Camper Vans

because it's something
we truly enjoy.

We like to camp.
We like the outdoors.

It started from a passion.

Boho isn't just a
business anymore.

It's a way for
people to get outside,

spend time with their families,
spend time with their friends.

It feels good to be able
to provide that to people.

♪♪

♪♪

Narrator: Next up is an
innovation of a favorite food.

♪♪

Hi, Sharks,
my name is Michelle Jimenez,

and this is my husband.

Andrea Meggiato. And
we're here from New York City.

We are seeking a
$125,000 investment

for 5% of our company.

Whoa.

Sharks, who doesn't love pizza?

As we all know,
there are pizza lovers all over the world.

Pizza is delicious.

But when you
think of frozen pizza,

you don't think of
it as an appetizer

or a high-quality gourmet snack.

And let's be honest,
it can be hard

to eat those delicious
slices on the go.

Plus, the frozen pizza snacks
category has gone a bit stale.

But that is until now.

Both: Sharks,
meet the Pizza Cupcake.

Mamma mia!

[ Laughter ]

♪♪

John: It's your birthday.

Oh, yeah.

-One, two, one, dip. -Oh,
no. Don't knock --

[ Laughter ]

Pizza guy! That's it.
Get the hell out of here.

[ Laughter ]

The Pizza Cupcake is
the next level of pizza

that belongs anywhere
and everywhere.

A fine gourmet snack
that's easy to serve

and made with
high-quality ingredients.

Plus our trade
secret dough recipe

delivers a fluffy texture

that's unlike any
pizza you've ever had.

And because of its
cupcake shape and size,

the Pizza Cupcake is
perfect for any occasion

and can be enjoyed in
even more ways and places

than your traditional slice.

So, Sharks,
who's ready to take a bite of...

Both: The Pizza Cupcake? Hey!

Stop talking. Let's eat!

Yes! Please dig in.

Which one should we try?

So those are our
two best sellers,

the margherita
and the pepperoni.

So the margherita
is the vegetarian.

Pepperoni is, you know,
is one of the Americans' favorites.

Wow.

And the sauce is your sauce?

The sauce is our sauce
-- it's the marinara sauce

that we made just
before we came in.

-This is delicious.
-It's really good.

It's really good.

Thank you. I hate you
'cause I want to eat these.

-Me too. -Oh!

It's not your
regular pizza dough.

It's a -- It's a hybrid
that we created.

Why is it so good, so fluffy?

Greiner: It's like
a flaky pastry.

There's got to be a lot of
butter in this thing. Exactly.

No, there is no butter.

-What? -Only olive oil.

It's a hybrid between a
brioche and a sourdough.

So you get the
fluffiness of the brioche,

and then you get the crunchy
and the flakiness. Oh, my God.

Andrea, how old is this?

Like,
it tastes like you made it this morning.

That's a frozen product.

Wow. Yeah,
we ship these from New York City.

Yeah. The marinara
sauce is our favorite.

-Really good. -For
Kevin to be silent

and just be eating is amazing.

It's so good.

And it's 160 calories
for the margherita.

For one,
right? Yes. Yes, for one.

And 170 for the pepperoni.

Andrea, tell us your background.

How did you come
up with this magic?

So I'm born and raised in Venice,
Italy,

and I worked in the kitchen
as a chef since I was 16.

And I moved to
London to learn English

when I was 19 years old.

And in London, I worked for
one of the fine Italian restaurants

that is owned by one of the
largest private members clubs

in -- in the world.

Soho? Soho House, yeah.

And they gave me the
opportunity to move to New York

in 2006 to open one
of their members' clubs.

And I spent 10 years doing
that until I met Michelle.

How did you meet Michelle?

So we met through
a mutual friend,

and it was really funny
because he asked me out

on a pizza date.

And I said, "Pizza date?

No man has ever
asked me out for pizza."

But the twist was he wanted
to teach me how to make pizza.

I'm sure he did.

I had to show off. Yeah,
he had to show off.

And we've been married
for almost two years now.

And this is our first
baby. Congratulations.

You know,
I was an event producer

and then I worked with
social media influencers.

Herjavec: And how did you
go from this incredible product

you're making to actually
launching the business?

Walk us through that.

Actually,
there was one event that we did

that it was for
our best friends.

It was all a group
of Italian people,

and everybody loved it.

And, you know,
Italians are picky.

So I was like -- we were afraid,
but they all loved it.

And she, with her, you know,
background, she was like,

"We need to bring
this to my events

and see what the reaction is."

And that's how we
started. How do you sell it?

Yeah, so -- so right now
we sell direct to consumer.

But last year,
our three distribution channels

were catering, Smorgasburg,

which is New York City's
most popular market.

That gave us the street cred,
you know,

to really have that
proof of concept.

And then we also did stadiums.

So our first partnership
was with Citi Field,

home of the New York Mets,
and they actually approached us.

Did you get a commercial
kitchen involved?

Yes,
we produce in a commercial kitchen,

and we also have a co-packer
who we've been working with

for the last nine months.

Lori,
you might be familiar with our co-packer.

We definitely sought them out

because their biggest
client is Bantam Bagel.

-Yeah. -What will
sales be this year?

So this year we're
projecting $800,000 in sales.

-Wow. Good for you. -Ooh,
very nice.

We did $344,000
in revenue last year.

Year to date,
we've done $77,000.

But we have a plan and we
know how to execute our plan.

So, prior to COVID,
we were really a restaurant business.

And so because of the
seasonality of our business,

we knew that we had
to launch e-commerce.

Direct to customer
frozen product.

Correct. Yes,
direct to customer. That's tough.

We knew that was in the roadmap,

because currently we're
New York City-based.

Our customers are from
all around the country,

and they wanted to know
where they could find us.

I learned something with
Wicked Good Cupcakes. Yes.

The first royalty deal
in "Shark t*nk" history

just paid its millionth
dollar to me in royalties.

Wow. Fantastic.

But the shipping journey we took

and the cost of the weight of
cupcake jars made of glass,

we learned we had to sell six,
not three.

Then we went to a dozen.

Our goal right now is to find
a different fulfillment center

who can serve us,
one in the Midwest,

one in the Northeast,
and one in the South. Greiner: Right.

But what do you charge,
Michelle? What is this?


a 12 pack is $24.99.

And how much is shipping? $9.99.


to get 12 pizzas.

Correct,
and -- Cuban: It's 3 bucks a cupcake.

What does it cost
you to make these?

One cupcake is 95
cents at the moment.

That's expensive. Yeah,
that's expensive. O'Leary: Wow.

It is expensive because
we're making it by hand

in our commercial kitchens.

The recipe that we
have allow us to go

to 48 cents per cupcake.

And that's why we're
here for your investment

so we can start production
with our co-packer.

You're starting up.

You haven't even figured out yet,
you know,

how it's all going
to come together

in terms of shipping
a frozen product.

I think you're going to have
some significant challenges.

There's no question about it.

Good luck to you. I'm out.

Thank you. Thank you.

Here's where I'm at, guys.

I'm not even going to
get into the valuation

because you could be optimistic.

Really, I just think that

I don't know if I'd be
the greatest partner.

Soon as I saw this, I was like,

"This is Bantam Bagels
in another category."

I know other people up
here who have stadiums

and a bunch of
buddies with stadiums.

Yeah,
with no one showing up right now.

But they will sooner or later,
right?

Eventually, yes. Yes.

So I really wish
you all the best,

but in the best interest of
being a good Shark for you,

I'm not the best
partner up here.

I'm out.

Thank you. Thank you,
Daymond. Thank you.

Herjavec: Look, I'm really torn.

I think you're going
to get a better offer

than I probably
would've made you.

But, man,
you guys are the real deal.

I'm out.

Thank you. Thank you.

Greiner: First off,
I think it's amazingly delicious.

I mean, listen, you're from
Venice and you're from New York.

You guys know what you're
doing when it comes to pizza.

Um,
I'm going to make you an offer

because I think there's
really great synergy

with my Bantam
Bagels company. Yes.

So Bantam Bagels, as you know,

started with a
stuffed bagel ball,

and we got into
Starbucks nationwide,

and then we got into all
the major grocery stores,

freezer sections.

So that might be fun for
them to also be involved.

Come on, Lori,
you're making me hungry.

So I'm going to
make you an offer.

I'm going to offer you $125,000,

but for 20%.

Ooh. [ Cuban laughs ]

Mamma mia!

♪♪

Narrator: Three Sharks are out.

Michelle and Andrea have
an offer on the table from Lori

for their business,
The Pizza Cupcake,

but she wants a
bigger slice of the pie

than the 5% they
came in offering.

I'm going to offer you $125,000,

but for 20%.

Ooh. [ Cuban laughs ]

Mamma mia!

What we can bring
to the table is worth it.

I think that we can
help you to skyrocket.

Ouch. It's like a mob offer.

I'll be -- No,
it's not at all. It's a great offer.

I could have gone higher,
actually.

I mean, you have an offer.
That's pretty interesting.

Yes, no,
thank you so much for the offer.

Well,
you can follow in our footsteps

of every single distribution
channel that we have.

Mark?

Yeah, guys, I mean, look,
if you want to stay frozen,

working with Bantam
is the way to go.

Here's the thing,
right? Selling frozen is hard,

as Lori will tell you,
as we've all done.

Getting the space
is really hard.

Getting it to deliver at a
reasonable price is really hard.

And so for those
reasons. I'm out.

But congratulations, guys.

Thank you. Thank you so much.

Well,
you're -- you're left with Lori.

And, yes, no Lori,


I feel like we've already gone
through a lot of challenges.

We found the co-packer,

which I think is the
most difficult part.

Would you be willing
to do $125,000 for 10%?

We work really hard.

You really wouldn't have
to do a lot of heavy lifting.

We have investors on board
who are also really strategic.

We've been in conversations
with one of the largest distributors

right now who wants
us to participate

in their incubator program
to get us into retail.

I know the time and effort

and all of that
that we will put in.

I know you're going
to do the heavy lifting,

but I know that I will also be
opening so many doors for you.

If I can get you into
Starbucks nationwide... Yes.

...that's 9,000 locations.

And then getting into Kroger,
Albertsons,

it will be so worth it to you.

I will not go to 10%.

My bottom line -- My
bottom line would be 15%.

♪♪

Would you do $125,000 for 12.5%,
Lori? Please?

-[ Chuckles ] -You know what?

I love you, but, listen,
you will love me.



I got -- You want me
to be invested in you

and you want me to work hard.

Would you be willing to go up

to $150,000 for 15%?

$125,000, 15%,

and I promise you,
you will not regret it.

So Bantam Bagel, you invested

at a $1.1 million valuation
when they were on the show.

And we have higher
revenue than them. Ohh.

And we also have figured
out our co-packer situation.

We also have -- You know,
we're shipping...

Herjavec: Boom. You go,
Michelle. ...direct to consumer.

And we -- And we -- I think
our marketing is much stronger.

It's okay to stick to your g*ns.

You know what,
you guys? I completely --

I completely understand it.

But here's something
you don't know.

You said you were learning the ropes,
right?

What I know is, is that there's
so much more for you to learn.

And the thing that is invaluable
is learning experience.

I had no mentor. I had to
figure out everything for myself.

But I do know that somebody
could come and sit with me

for just one day,

and I could save them two
years' worth of time, of mistakes.

Also the connections. Guys, you sound
like you're students of "Shark t*nk."

You know your
numbers. I got that.

But you also know something
else about "Shark t*nk."

When you only have one offer...

Yes. ...you're skating
on really thin ice.

Yes, we know. And now
you have to make a decision.

No, I know. Um...

Can I make one
more counteroffer?

Ohh! You can do
whatever you like.

Would you be willing to
do $125,000 for 12.5%

and then 2.5% in
advisory shares?

Lori, what do you say?

You got a deal. Yes!

-Yay! -Congratulations.

-High-five. -Alright, Shark hug.

Congratulations. Thank you.

Thank you,
guys. Thank you so much.

Thank you so much.

Make sure my pizza is at
my house by this weekend.

Herjavec: Arrivederci,
pizza guy.

Jimenez: We're living
that American dream

where we have
our family business,

we have our dream
Shark on our team,

and we can just
really start scaling

and, you know,
having Pizza Cupcakes

as a household brand.

♪♪

Narrator: Next up is a solution
to a headache for many people.

♪♪

Ah!

Ah-ha!

Hey, Sharks, my name's Nic Lamb.

I'm from Santa Cruz, California,

and I'm here seeking $50,000

in exchange for 20% of my company,
IceBeanie.

Sharks,
as you may be able to tell,

I spend most of my time chasing
the largest surf on the planet.

I'm a professional
big wave surfer.

Started surfing at 5,
competing at 9. Wow.

At 14, I became the youngest
to ever surf Mavericks.

Only a few years later,

I'm now the current defending
Mavericks champion. Whoo!

But while surfing Nazaré,
Portugal,

the largest wave in the world,

I slipped and fell on
a giant 70-foot wave

that rung my bell and left me
with a serious concussion. Oh, ohh.

Now,
for months after the incident,

I had terrible post-concussion
migraine headaches.

So frustrated with holding
ice packs on my head,

I knew there had
to be a better way.

That's why I created IceBeanie.

IceBeanie is an all-natural

compression cold
therapy solution

to help provide
you heavenly relief

from migraines, headaches,
and concussions.

Simply toss IceBeanie
in the freezer,

take out,
and place on your head.

It's that easy!

So, guys,
do you or a loved one suffer

from debilitating
migraine headaches?

Are you tired of holding
the frozen bag of peas

on your head or
over-the-counter dr*gs?

It's time to take back control
of your life with IceBeanie!

So, guys,
who's ready to get cool

and invest with IceBeanie?

Greiner: Good job.

-You're right. -Thank you.

Nic,
was that the wave that knocked you out?

It was,
yeah. If we could get a replay,

you can see me actually
getting sucked over the falls.

This is it? There I go. Yeah.
Trying to balance on the ocean.

-Oh, it's okay to fall. -Oh,
my God.

See me get sucked over?
Cuban: That's got to hurt.

Greiner: Wow. I popped up and
got a quick little breath to survive.

How tall was that wave?

Six-, seven-story building. 60,


You know,
but -- -You are crazy, man.

How hard is that
impact? I love it.

It's like an underwater
car accident.

It's pretty intense.

You know, it's like NASCAR meets the ocean,
but I love it.

So I have a question
about this. Yes.

So I know people
who have migraines,

and, you know, I've seen
people put things on their heads...

Sure. ...that have ice in them.

Sure. Are you the
only thing out there

with ice packs in
it that are a cap?

So what I can tell you is

that there's nothing like
IceBeanie on the market.

Now, there are other products.

However, they are bulky, heavy,

do not all provide
full head coverage,

and all of them require
an arduous setup.

IceBeanie addresses
all those pain points.

That's why we feel we're
not only different, but better.

Are you saying
that the other ones

have packs like this in them?

Some of them have gel inserts,
yeah,

but they all -- you have to

apply them to the
-- to the product.

-Is this patented?
-So you don't have

a patent on this.

We're patent
pending. It doesn't fit.

So you got to pull it -- pull it down,
Robert.

John: Yes, it goes -- it goes
just around. It's polyester.

So, yeah. It goes just around.
It doesn't have the center part.

As the ice warms
up from your head...

Greiner: How does that
feel? Does it feel really cold?

It feels good. Actually,
it feels really good.

Feels really good. And
your head will warm it up,

and it'll start to mold to
the shape of your head.

Does it grow hair? [ Laughs ]

I'm trying to get my head
around it so to speak, Nic.

How big a market is there

for people that want to
put ice hats on their heads?

In the US alone,
there's over 40 million people

that suffer from migraines,
and over a billion worldwide.

But how many would
actually wrap their head in ice?

That's the question.

Cuban: Anybody who thought
it would work would do it.

Yeah, absolutely. Well --

Yeah, tell us about your
business and how it's working.

Yeah. Absolutely.
So the unit economics,

we source for $7
and sell for $39.95.

And where do you sell them?

Right now,
we're selling direct to consumer

off our website,
Amazon, and Etsy.

Cool. And how many have you
sold over what period of time?

So we launched
near Q4 last year.

Sales to date are
just around $100,000.

Way more than I
would have thought.



Greiner: And what was your
mode of getting it out there

for people to know about it?

Right, so we've been leveraging
a network of influencers

that I have --
professional UFC athletes,

CrossFit world champions,

actresses,
and Olympic gold medalists.

And why are they wearing
it? What's their purpose?

Well,
they wear it after intense workouts.

I use it now more after,
like, an intense workout.

It's like cold therapy
for your head.

You know, and, yeah, really,
because I can see that,

like,
instead of pouring water on your head

or putting a towel on your
neck or one of those things.

I can see this cooling
you down. Exactly.

It's cold therapy for your head.

O'Leary: I moved to Florida

so my head didn't feel
like this in the winter --

I got to tell you.

Herjavec: And your average
consumer that buys it,

are they buying it,
like Mark said, for a workout?

Are they buying
it for migraines?

Do you have any
data around that?

Primarily they're buying it for migraines,
headaches.

And some of our
customers have had TBI,

traumatic brain injury... Huh.

...as well as
chemotherapy customers,

because I believe going
through the therapy...

Yeah,
'cause I can see that for chemo.

...their heads get hot. Yes.

Wow. I didn't think about that.

O'Leary: Nic, it's interesting.

I'm very impressed by you.

I really,
really thought you were nuts

when you walked in here.

But you have a clear plan.

It's just the size
of the market.

I think it's going
to be difficult

to acquire
customers to scale it.

This is my own opinion because

a certain kind of person
will put ice on their head.

Finding that person
is not that easy.

But there's multiple markets,
right,

such as the hospital market,

we have the sport market,

and then the hangover market,
you know?

Look,
I wish you the best. For me,

this is just not some-- a
journey I want to surf with.

So I'm out.

Alright. Thank you.

So, Nic, you had a problem,
you came up with a solution,

but I'm very dubious
about investing in this

because I'm concerned
about your competition. Sure.

So while you're great
and this is great --

I'm not afraid of competition.

I know. And you know what?
You're going to do amazing,

because you have
that drive within you.

I just don't think it's the
right investment for me. Okay.

So I'm sorry. I'm out.

Thank you.

♪♪

Cuban: You know what?
I'll make you an offer,

because for 50 grand,
you're a great partner.

It's a great idea.

Worst case,
I can get them in the Mavs locker room.

That would be
fantastic. So I'll give --

I'll give you the


Would you go to 25%, Mark?

Done.

-Nice. -I'll give you a hug.

Whoo! We can't touch, right?

So are you sure you
didn't want to hear my offer?

Daymond...

Cuban: Appreciate it, Nic, man.

We never heard from Robert.

I had a great offer.

You never gave Robert a chance.

Did you? Oh,
I don't believe you.

It looked like you were out. Yeah,
I don't believe him, either.

No, no, I had a great offer.
I just think you were going

down the wrong road. You just
fell off another seven-story wave.

Cuban: Oh, no, no, no.

And you fell into a money pit.

My man. Exactly. Yes. So,
there you go. We're gonna do really well.

I think I would have liked
to have heard Robert's offer.

No,
who cares what Robert's offer is?

O'Leary: Well, it might have
been a better offer. I think --

A lesson learned here -- You
did not allow price discovery, Nic.

What do you mean? You just made
the deal of a lifetime. John: Nic --

I just closed a deal. I'm pretty
happy. Nic, Nic, Nic, hold on.

You know, people come out,
they get excited.

I get it. You should never
take the first offer, my friend.

[ Chuckling ] Oh.

If it's from the right partner,
you always say yes.

Greiner: Nic,
you could change your mind

and hear what they have to say.

♪♪

I'm going to -- I'm
going to take the offer

that I have from Mark. I'm super happy. When
it's the right offer, you can always say yes.

Thank you guys for your time.
You can open it back up right now.

You can open it
back up right now.

-No,
he can't. -Is that how it works?

Rules are made to
be broken. Cuban: No!

I'll give you $100,000 for 25%.

Oh!

See what you left on the table?

♪♪

I accepted Mark's offer.
I have to honor that.

Absolutely. I'm so excited.

Exactly right. Appreciate it,
Nic.

Good answer.
You're not a scumbag.

Congratulations. You
made the wrong deal,

but I wish you all the best. O'Leary: Nic,
you won't be --

Thank you, guys. Appreciate you.
Cuban: He's been saying that for 11 years.

Greiner: Bye, Nic. Thanks, guys.

Whoo! You guys snooze, you lose.

We were waiting.

Whoo-hoo-hoo-hoo!

I jumped on Mark's offer

because when you get an
opportunity like that in life,

you seize it. You don't wait.

You just jump on it and
seize the opportunity.

And that's what I did.
And I couldn't be happier.

Oh, yeah!

Hyah!

♪♪

Narrator: Next up is a way

to get that draft
beer taste from a can.

♪♪

What's up,
Sharks? My name is Pat.

And my name is Armand,
and we are seeking $300,000

in exchange for


Pat, you know what I love
more than anything? Draft beer.

There's just something
about it that tastes way better

than beer in a can.

Bro,
it's because you can actually smell

the beer you're drinking
rather than the aluminum top.

True, but in most places,
cans are the only option,

and they're not going anywhere.

Yeah,
when I go camping and fishing,

I only bring cans,
but I usually just pour into a cup.

Dude,
plastic cups are such a waste.

There has to be a better way.

Alright. How about this?

What if we just remove
the entire top of the can?

Oh, you mean like this?

Sharks, don't try this at home.

[ Groans ]

Greiner: Oh, my God.

Bro, stop.

Sharks,
we know there's a better way

to experience canned beverages.

That's why we created Draft Top,

the only patented
bar tool on the market

that's designed to remove
the top of your canned beverage

and turn it into a cup.

Beer me, brochacho.

Here's how it works.
Open the handle.

Place Draft Top on the
can. Squeeze and rotate.

O'Leary: Whoa.

It's that easy.

And not to mention the top is
removed from the inside rim,

leaving... Both: No sharp edges.

So, Sharks, who's ready to...

drink topless? Drink topless?

Herjavec: What am I doing wrong?

Why can't I get this to work?

Whoa, whoa,
whoa. Hold on. Hold on.

We're gonna walk
you through that.

So, in front of you,
we got a fancy version

of the customized tools for you.

You can open it by pressing
here on top of the handle.

Just pull it out like that?

You got it. Once
in the open position,

you're going to place
the tool on the can.

Alright. You're going to
wiggle out just a little bit.

Once you get on,
you're going to squeeze the handle

just slightly until
the handle --

the handle compresses. Wait.

Greiner: Aah! It didn't work.

John: Hold on, guys. Hold on. We're
having a little... Did you get it to work?

My problem is I'm crushing
the can while I'm doing it.

It usually takes a couple beers

to get the -- get
the trick down.

It's too complicated.

Well,
I have a question for you. Sure.

Obviously,
it was a little challenging here for us.

I made a mess. How
many have you sold?

Yeah, so we've had the product
selling for eight months now,

and we've sold $1.6 million.

-What? -Yes, sir! Yes, sir!

Selling over 70,000 units.

Oh,
now we're interested in this.

-Alright. Now we're
talking. -Seriously?

So in December,
we did crowdfunding,

and we did $835,000 in
sales on crowdfunding.

John: Oh,
there you go. That's it.

So this was our second
time on Kickstarter.

Lifetime sales are a
little over $2 million.

-Hey, guys. -Yeah?

So -- So -- Guys, look, I may be dumb,
but I'm not stupid, right?

If I'm having all this trouble,

what were the
reviews on Kickstarter?

What's the feedback?

So we've had a
lot of great reviews

and we've had others that
didn't necessarily feel as well.

But what we've done is we know there's a
consumer -- You mean they're not so great.

Yeah, but surprisingly,
not as much as you would think.

But we put out a lot of content
on social media and YouTube

where we have
training videos and stuff.

Look, guys,
I can see this being a great gag gift,

a great, you know,
groomsman gift,

but at the end of the day,
I can't even get it to work.

So we do tell the consumer
there is a bit of a learning curve.

So there is an expectation --

Yeah, but listen -- listen
to that. Listen to that.

Listen to what
you're telling me.

You're asking me
to waste a beer.

And that is never tolerable. So you
don't actually need to waste a beer.

And for those reasons, I'm out.

Mark,
you don't need to waste a beer.

We tell people to --
to start with empties.

So collect a couple empties.

Practice with my empties?

Yeah, absolutely. It works the
same way. There you go. Well...

You sold $2 million worth of it.

That's serious money, okay?

Yeah. Yeah.

My question is why?

Why does the world
need this? Alright.

It's -- It's a fun item,
but it's not worth $3 million.

Guys. Guys,
I-I've tried four times now.

I tried it slowly. I
took the thing down.

I h-held it. I put on the thing.

I can't get it to work. I'm out.

Okay. Okay.

Thank you, Robert. Thank you.

Guys, I've been here really trying
to work the can, okay... Sure. Okay.

...trying to understand the
excitement about the product.

I get it. Yeah.

But it -- it's such a
pain in the heinie.

I mean,
I was going to look at it and say,

"Okay,
do you have any flexibility on valuation?"

[ Laughter ]

So -- Of course we do.

Did you figure that
your experience here

would go like that,
with all of us laughing?

No, actually, no.

We -- I do want to
talk about our sales.

Yeah. I want to talk about that,
too. Okay. Okay.

What does it cost
for you to make it?

And what do you
sell it at? It's $14.13--

I'm sorry -- $4.13 to make it.

It's 100% American made.

-Nice. -Wow.

We sell it for $24.99
direct from the website.

-That's expensive. -Oh,
there you go.

Cuban: That's good margins.

You have a patent, right?

Utility patent, yep. Okay.

Hell yeah. Got you. [ Laughs ]

Greiner: You did it by
three beers. So there you go.

Alright. So our biggest --

Our biggest problem is inventory,
right?

We can't keep up through
the website right now.

Our sales have dropped in
half in the last three weeks

because we just can't
make it fast enough.

Wow.

You guys, listen,
I-I love innovation.

I love when people come
up with new ideas and things.

You know, obviously,
people like your concept, right?

Yes. You have proof of sales.

You did amazing.

My problem is we all
had trouble using it.

That's not to say
you can't fix it,

but for me to invest $300,000,
no matter what percent,

on something that
needs tweaking,

it's not there yet.

And so I'm sorry. I'm out. Wow.

Daymond, Kevin?

Guys,
I -- I think the mistake was the 300K.

So, Kevin, we are on target to
do $3.2 million conservatively.

We think we'll be at $4
million by the end of the year.

$300,000, when I first saw it,

I said to myself, "Why?"

And I'm still here looking at it,
saying "Why?"

I'm just trying to open a can.

I'm out.

Daymond.

-Daymond. -Then there was one.

We've got 83% gross
margins on the product,



We've got about a half a
million dollars in the bank.

We need a mentor
that can help us.

You know,
I think there's something missing here.

You're not seeing the pride
in what you've accomplished.

This is not a small
accomplishment.

Cuban: It's really good, guys.

Why do you want a Shark?
What do you expect exactly?

I think they want the $300,000.

No,
we don't need the money because we've got

a half a million
dollars in cash.

We need to know -- So if
you don't want the money,

then why did you valuate it
so high for the opportunity?

This is just what we felt we valued
this company at. And it's a starting point.

We're going to finish this year
at $3 million. Yeah. This is...

We plan to do at least $6 million
next year. We need some guidance.

Why did you price it so high,
guys?

Because it's just
a starting point.

It is what we are going
to finish the year off at.

Did you -- Did
you price it so high

'cause maybe you
don't want a deal?

Not at all. Nope.

Okay. I wanted to make sure.

Not at all. We came
here for a partnership.

I mean, listen,
you want $300,000 for 10%.

I'm going to give you
$300,000 for 20%.

Greedy.

♪♪

Herjavec: Great offer, Daymond.

♪♪

Daymond,
we're going to take that offer.

Yes! Alright!

[ Cheers and applause ]
There you go! I can't -- I can't --

You want me to
open that for you?

Let me try to
celebrate. Try it again.

I'm gonna try it one more time,
guys, alright?

O'Leary: Ain't gonna work.

Nice and slow, nice and slow.

Get it on there. There you go.

-Rotate, rotate. -There you go!

-Whoo! -Go, Daymond,
go, Daymond.

-Oh. [ Laughs ] -Ohh.

Too bad they don't
put champagne in cans.

You know what? We'll figure it out.
We're gonna give you some training.

Because you know what? The fun part,
I get it.

Pat, Armand,
cheers. Thank you very much.

-Congratulations,
guys. -Thank you, guys.

Mazel tov. Cheers, guys.

-Cheers, Daymond. -Thank you.

-Cheers! -Outstanding.

Greiner: Congrats.

Well,
didn't exactly go as expected,

but that was pretty good.

Cheers.

Daymond, it doesn't work.

It does work. Look at mine.

Let's see if Mark can do it.

[ Clicking ]

You hear that? You hear that?

You're crushing the can.
Greiner: Keep going. Keep going.

You hear that? You're
crushing the can.

Crushing the can. Is it off? No.

Yes, it is. Crushing the can.

But you had to push it
in. That's the way you do it.

You don't lift it out? No.

Oh,
you push it down. Why didn't I push it in?

Ohh.

John: Yeah,
you push it down. Mine worked.

♪♪

♪♪

♪♪

♪♪

♪♪