12x21 - Episode 21

[bunniefuu]

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

We're two chefs
that met while working

at a three-Michelin-star
restaurant.

Who's ready to help me
take the hassle

out of prepping healthy meals?

-Yee-haw! -Whoo!

This is one of the smartest
changes I have heard of.

I've worked really hard
to get to this point.

I don't need you
to interview me.

This is not the product
that's gonna set you free.

It goes to Kevin's ignorance.

Robert has no equity
in the food industry -- zero.

Nobody knows who he is.

I can't take it anymore.

I think that's a crazy offer.

It's feeding time.

-Yeah. -Yeah!

♪♪

Narrator: First into the t*nk
is a company

based on one of the world's
most expensive ingredients.

♪♪

Hello, Sharks. My name is Jason.

And my name is Tyler,
and we are...

Truffle Shuffle!
Truffle Shuffle!

We are here today
seeking $500,000

for 5% of our business.

-Hello. -Whoa.

We're two chefs that met
while working

at a three-Michelin-star
restaurant.

We were directly in charge
of sourcing the finest

and most expensive ingredients
on the menu,

especially the truffles,
the black gold of ingredients,

so prized, there's been
a black market that's developed.

We learned that you have to work
directly with truffle hunters.

Otherwise, you could be
paying top dollar for fakes.

We started this company
to help chefs and consumers

source honest truffles

and create our own line
of truffle products.

But what do you do
when a global pandemic hits

and you have...


on hand

worth $1,000 a pound
and very perishable?

And every restaurant
that you work with is closed?

You adapt.

We decided to sell our truffles
direct to consumer

and launched
a live cooking experience.

We built a website
where guests go on,

select a dish that they
want to learn how to make,

and then we send them
all of the ingredients

for them to make a
Michelin-quality meal at home.

Wow.
We would love
to show you Sharks

how these live
cooking experiences work.

[ Laughs ] Lights.

Camera.

Action! Action!

Welcome to
the Truffle Shuffle show.

We've got some of our
top supporters here today

to help give us
a hand with this demo.

What up, guys?

We're gonna do
our crepe suzette today,

which is one
of our favorite classes.

We're gonna flambé the sauce,

so be careful
with this one, guys.

Tyler is a trained expert here.

Whoa!

Oh, yeah.

[ Laughter ]

Awesome, guys.

Now, Sharks, it's feeding time.

-Yeah. -Yeah!

So go ahead, lift those boxes
straight up

and check out those dishes.

-Oh, wow. -Check it out.

-Nice. -Wow.

We have our black truffle
tortellini en brodo.

-Ooh. -So if you want, go ahead.

Bust open that truffle salt.

Truffle salt. Take a smell

and get some seasoning on
from up high.

Oh, my -- Oh.

Unbelievable. Check that out.

-Ooh, that smells so good.
-So good.

Yeah, that's nice.
Grab that truffle.

And just like Jason's doing
here, shave some truffles.

Is this $1,000 a pound?

White truffles actually
go up to $5,000 a pound.

-What? -Yeah.

Listen, you know you are talking
to Chef Wonderful here.

-Absolutely.
-I am one with the truffle.

[ Laughs ]
You're one with the potato.

[ Laughter ]

As trained chefs,
we know that a Shark

is a key ingredient
for our recipe for success.

So, Sharks, who wants to feast
on this investment?

So how did you
come up with this?

So, myself and Tyler
are actually chefs.

We met at one of the top
restaurants in the world.

-Where? -Which one?

French Laundry.
Oh, I've been there.
It's great.

That's the only guide Michélin
in America, right?

Yep, and we were crazy enough

to think if we started
a truffle business

that we could sell
enough truffles

to one day make enough money
to open up our own restaurant.

We took 9,999 euros,

strapped it to my buddy's chest,
sent him to Europe,

and he started
making relationships

directly with truffle hunters.

And we started just hustling
every single day,

door to door selling truffles.

But then in 2019, we knew in
order to scale this business,

we had to launch
a truffle product line...

Yep.
...because we needed
something shelf-stable.

So Jason and his wife actually
went on their honeymoon to Bali,

and they met this salt maker

that makes this beautiful,
handcrafted sea salt.

And I had been messing around
with this truffle powder.

So when we mixed the truffle
powder with the salt,

we knew that we had
a good product on our hands.

And what do you sell it for?
What did it cost you?

So we sell it for $20 a jar.

It costs us $2.80.

-Yeah. -Wow. -Nice.

O'Leary: What are your sales?

'Cause you've imputed a value
of $10 million on this business.

So year one, just hustling
fresh truffles -- $65,000.

Year two -- $486,000.

What? And when COVID-19 hit,

every restaurant
we worked with was closed,

and we had 20 pounds
of fresh truffles on hand.

And they have a shelf life
of five days.

-Five days? -What?

-Yes. -Yep.

-Oh, my God. -You're kidding.

Otherwise, the aroma dissipates.

-So what did you do? -Oh.

So all the money we had
was in these truffles.

Truffles hit Tuesday.

Wednesday, we get a phone call

from one of the top
private clubs in the world,

and they want to know if we'll
do a virtual cooking class

for their members.

We basically take the phone call
while looking at the truffles,

and we're like,
"Well, what if we send

all the ingredients needed
to make truffle risotto

and we'll even see
if we can find some truffles?"

And they're like, "Wow.
Would you really do that?"

[ Laughter ]

Smart man.
We said, "I think we could
figure that out."

They sent an e-mail out about
this virtual cooking class

that we're gonna do.

And by noon that day,

we had completely sold out
of all the truffles.

Since then, this year, we've
done $1.4 million in sales.

-Wow. -Hell, yes!

-Whoo. -Hell, yes!

Yep.
So all of that $1.4 million
is the kit,

which includes
various ingredients.

So about 84% of that is
the cooking-class experiences.

But the cooking-class experience
I buy through buying a kit.

Exactly, yes.

O'Leary: What do you charge
for the typical class?

What are the cost of goods?
How much do you make?

We charge $95 to $125 per kit,

and then our
gross profit margin is 60%.

Greiner: So there's the classes.

And then on this hand, you've
got salt, honey, and popcorn.

Where's your strong focus?

Because there's two things.

I'm not saying
you can't do them both.

But how do you see this going?

We look at ourselves
as a full brand,

so we put those truffle products
into our kits

and teach people recipes using
our truffle products.

But, guys, the challenge
is your cash flow, right?

Because some things
don't seem to add up.

So you did how much
year to date?

Year to date would've been
$1.4 million.

$1.4 million.
And what's your profit?

So off of that $1.4 million,
we've netted $8,000.

$8,000, okay.
Therein lies the rub.
$8,000 on $1.4 million?

Right, okay, and so how much
cash do you have in the bank?

We have $165,000.

Okay, so, you guys, you see
your challenge here, right?

Because you're caught
between two businesses.

In one business, you're
very inventory-heavy, right,

which is your various products.

So what have you sold this year?

We've done about $212,000
in sales

with the truffle products.

And you're selling those
into retail via wholesaler?

Yes.
Right now we're working
with Whole Foods,

launching
with Whole Foods.
Mm-hmm. Yep.

Okay, so you're not charging
enough for your live classes,

'cause you're getting
crushed on them.
Yes.

We do a class that will cost $95
for that kit.

We send that to the guest.
We will make $60.

Then why are you
only making $8,000?

Where's the other
expense coming in?

So last month, we did $347,000.

Off of that, we made $50,000.

So last month was
our break-even point.
O'Leary:
That's really skinny margins.

I mean, you should
be making 20%.

Bottom line, you sell
$1 million, you make $200,000.

That's what it should look like.

Or, even simpler,
where's the cash going?

So we've grown this business

off of the profits
generated from the business.
Yes.

Greiner: I'm gonna just jump in.

I'm close to my entrepreneurs.

I've watched them
go through COVID.

We've had to be very creative
to grow their business

or thrive or pivot.

This is one of the smartest
changes I have heard of.

But as a business,
as an investment,

I can't see what I would
bring to the table.

So I'm sorry. I'm out.

Thank you, Lori.
Thank you so much, Lori.

John:
Yeah, as I look at you guys,

you guys look very young to be
so accomplished in that field.

You guys are like scientists
when you're doing your thing.

So I can see this virtual course
taking off.

But a $10 million valuation,

I just can't take
the ride with you.

So I'm out.

Thank you, Daymond.
Cuban: Yeah, guys.

It's gonna take you
far more capital

than you're anticipating.

And 'cause you're doing
multiple businesses,

it's gonna take
so much of your time

that it's gonna
be very difficult

to pull all
those pieces together.

So for those reasons, I'm out.

Mark, so the way that we've been
able to grow this business

is when we sell these classes,
we get that money in the bank.

Herjavec:
Guys, I've heard enough.

You've got magic going on, baby.

And the magic is
in these classes.

People are looking
for experiences.
Yeah.

You should sell a little thing
where you unlock a class.

Pre-record a bunch of classes.

Spend 10 hours a day,
record them.

Send me a key.
I unlock a lasagna class.

Our goal is to be
the Peloton of cooking.

-[ Laughs ] -Yes!

That's exactly
what went through my head.

I'll give you the $500,000
for 20%.

Thank you, Robert.

Would it be okay if we heard
any of the other offers?

There are no other offers.

Wait a second.

♪♪

Narrator: Three Sharks are out.

Jason and Tyler have an offer
on the table from Robert

for their truffle-based cooking
and product company,

Truffle Shuffle.

But Kevin may also
be interested.

I'm gonna make you an offer.

But you guys
really need some discipline.

I don't think you're worth
$10 million right now

'cause it's kind of
throwing stuff at the wall.

And I agree you should do that
in a digital pivot

to figure out what works.

I would give you the $500,000
as debt,



I would take 25% equity.

I would focus on truffle product
in my channel.

Ugh. No.

Herjavec: So hang on.

Look, Kevin does
a lot of stuff well.

But he's not an operator.

You've got a real
experience business here.
Uh, excuse me.

I'm the only chef up here
besides these two guys.

That's exactly my point.

He doesn't even see
what the business is.

It's a studio.
I see exactly
what the business --

Robert has no equity
in the food industry -- zero.

Nobody knows who he is
in the food industry.

I am Chef Wonderful.
I am well-known.

Again, it goes
to Kevin's ignorance

of what the value
of your business is.

It's not
a freakin' food business.
No, I'm very --

I'm very eloquent on the value.
It's an experience
business...

McKinney: Yeah, it's a
virtual-experience business.
...based on your background.

You, for a moment, allow me
to be a major chef.

That's what people are buying.

Robert, is there any way that
you would do a deal with Mark?

Why do I need Mark?
What am I, chopped mushroom?

I could come back in.

Alright, guys, make us
an offer for Mark and I.

Okay, give us one second
to think about it.
Sure.

We'd love to make an offer here.

[ Whispers indistinctly ]

Would you guys do $250,000 each
for 7% each?


because most likely,

if you keep on growing
at that speed,

you're gonna need more cash.

Mark's right.
It's a lot of work.

$500,000 for 14%,
and then to split it?

It's just not enough.

I actually think 20%
was relatively generous.

I got to stick at 20%.

I'd love to do a deal with Mark.
I love to do a deal on my own.

Then I'll do the same thing.

I'll offer you $500,000
for the 20%.

We'll let you pick.

Would you do that for 15%?

I'd do it for 18%.

Would you do it for 17%?



Would you go up on the cash?

Okay, $501,000.

[ Laughter ]

Either you want me
or you don't, guys.

♪♪

Um...

Mark, we would love
to accept that offer.

Let's go snout down
some pigs, baby.

-It's gonna be great, guys.
-Let's do it.

-I'm excited. -Congrats, guys.

Oh, Kevin, we actually
have an offer for yourself.

Would you like to purchase
these truffles?

[ Laughter ]

Thank you, Robert.

So, Mark was our target Shark
coming in.

I think the future with him
is super bright.

He's got that strong
technology background.

Combined with
our cooking experience,

I think we got a solid game plan
ahead of us.

Narrator: In Season 11,
Joe Demin and Rachel Connors

made a deal with Daniel Lubetzky

for their hammocks
with a social mission,

Yellow Leaf Hammocks.

Just because I love you. Yes!

Narrator:
Let's check in with them now.

We started Yellow Leaf Hammocks
to provide a path out of poverty

for artisan moms
in rural Thailand.

The year before "Shark t*nk,"

we had just launched a
partnership with Virgin Voyages,

as well as our new line
of relaxation furniture

called the Hammock Throne.

Then the COVID pandemic hit.

Connors: Our wholesale business
dried up in a matter of days.

Vendors canceled orders,

and some even refused
to send payment.

We decided to flip our business
completely around

and invested everything
into redoing

our entire e-commerce experience

and going direct
to our customers.

The weekend after airing
on "Shark t*nk,"

we did $250,000 in sales.

Now, four months later, we've
done $1.5 million in sales.

And the new customers
who found us after "Shark t*nk"

helped create 200,000 hours
of employment

for our weavers in Thailand.

It's incredible what
you guys accomplished,

thanks to the power
of "Shark t*nk" also.

Lubetzky: I chose to invest in
Yellow Leaf for several reasons.

One is that Joe and Rachel
were very authentic and real

and you could sense
their goodness.

They have a deep social mission
to help,

but also, as a guy
that was born in Mexico,

I love hammocks,
and I've always thought

that they have not received
their due in American society.

And together
with Joe and Rachel,

I'm committed
to help change that.

Since "Shark t*nk,"
you have gone fivefold

in the number of people

whose livelihoods you're able
to provide for.

It's incredible.

It's really a testament
to your vision

and your ability to change
other people's lives.

The power that a job has
to transform a family

is incredible.

In less than a generation,

they can go from the bottom
of the economic pyramid

to opportunities that were
completely unthinkable before.

I just feel really excited
for the future.

I feel sure that we can
accomplish really big goals

that we set out to achieve

with support from Daniel
and the "Shark t*nk" community

and our customers
all over the world.

You know, Joe and Rachel started
with a dream

to encourage all of us to find
a way to find relaxation.

The stressful times
that we're all living through

just accentuates our mission.

And in the years to come,

we're gonna see
a lot of great things from them.

All: Thank you, "Shark t*nk"!

[ Cheering ]

♪♪

Narrator:
Next up is an easier way

to accomplish
an important habit.

♪♪

♪♪

Hi, Sharks. I'm Cindy Trevizo.

And I'm Gabe Trevizo.

We are from Gilbert, Arizona.

And we're seeking $200,000

for 10% equity
in our company, Suds2Go.

As parents, we know taking
adorable little ones outside

and keeping their hands clean,
it's impossible.

But how do we clean
their germy little hands?

Sanitizer? It stings.

Wipes? They're always dried out.

And we definitely
don't want to take them

in the nasty public restroom.

The best way to clean
their hands

is with doctor-preferred
soap and water.

That's why we created Suds2Go,

a revolutionary, portable,
and patented handwashing system

that allows you to bring
real handwash anywhere you go.

Both: No sink, no problem.

In our reusable bottle version,

simply fill this container
with water

and this section
with your favorite foaming soap.

Pump the soap.

And pour to rinse.

It's really that easy.

Clever.

We also have a second version

that's so tiny,
it can even fit in your pocket.

And it press-fits onto
a disposable water bottle.

In these times, more than ever,
we can have the peace of mind

knowing we're using the best,
most effective way

to get germs off our hands.

Now, Sharks,
who's ready to join us

in the hand-hygiene revolution?

Because remember,
with Suds2Go...

Both: No sink, no problem.

Cindy, how does the portable
little one work?

Can you show us that?
This one, yes.

It just presses on.

And then...

pumps soap, and then this one
is a little bit more --

Oh, I see.
John: Oh, but that's cool.

That really is smart.

Herjavec:
How much soap does it hold?

So that holds about 30 pumps.

So this is
our disposable product,

and these are made to fit

directly onto any
disposable water bottle.

How much is the disposable one?

Those sell in a two-pack
for $10.99.

-Ooh. -Wow.

-That's not cheap.
-That's expensive.

-That's a lot.
-What's your cost on them?

$2.25, landed, packaged.
That's good.

And what's your cost on this?

And what do you sell it for
again?

Landed, that's $7, and packaged.

And we sell it for $36.99.

Ooh, that's not cheap, either.

Tell us how you're
selling it today.

We're selling only on
our website since February 1st.

-What good timing.
-You're just around COVID.

Greiner: I mean,
that was accidental, right?

It was accidental.

We ran a Kickstarter in '18

to kind of gauge
social proof for ourselves.

We raised our $12,500,
which was our target.

And we got our inventory
in December of '19.

Wow.
So we got
our first 4,000 bottles.

So how are sales going?

Those 4,000 bottles,
how many did you sell?
They're gone.

They lasted six weeks.
Six weeks.

-Six weeks? You sold out?
-Good for you.

Greiner: Wow.
And we have 12,000 more coming
at the end of the month.

What are your
total sales so far?

Lifetime sales -- $392,000.

Wow.

Tell me about you.
What's both your history?

So our history is interesting.

We're eighth-grade sweethearts.

Oh.
We've been through
a lot together.

In '08, I lost my job.
Cindy was a teacher.

And... Ah.

So she picked up extra jobs
on the weekend as a waitress.

And I basically did
whatever I could,

which included valeting cars,
landscaping,

portering,
which is picking up trash.

And it was -- Sorry.

It was a defining moment for us,

and it really lit a fire in
our bellies to be hard workers,

to not let things get in the way
of where we want to go.

Herjavec: You know, Gabe,
it's interesting.

You know, "Shark t*nk"
started in 2008.

And I think one of the reasons
our show lasted

is we inspired so many people

in the midst of all that misery
and hardship.

And here we are.

And we're in a global pandemic.

And I hope we do
the same thing again.

Where did you get the money
to do manufacturing?

Was it all from Kickstarter?

No. It was our money.

So we've put in about $80,000
of our own money.

-Wow. -$80,000?

Herjavec: Gabe, where did
you get the $80,000?

Our bank account.
Our bank account.
We save money.

-Good for you.
-So those were all your savings?

Sure. You're all-in here, right?

You basically wiped out your
savings to get to where you are.

It means everything to us.
I mean, it's our dream.

How much cash do you have
in the bank now?

In the business account,
we have $90,000.

-Wow, good for you. -Wow.

And we also have about $120,000
of paid inventory,

which is a retail value
of $600,000.
Cuban: See, I mean,
that's just incredible.

Think about that.

Literally, since February,

you went from, "Oh, no,"
to, "Oh, yes."

Yeah.
That's incredible.
Incredible.

And what do you need
the money for today?

We need the money to fast-pace

entering global markets
with distribution,

and obviously inventory's
gonna cost a lot of money.

Do you have any debt
on your business right now?

We have no debt on the business.

We do have a personal loan that
we've drawn solely for Suds2Go.

How big is it? $150,000.

Oh! $150,000?

Greiner:
So you've put in $80,000.

That was all our modes.
That was our engineer designs.

That was the first run
of inventory.
And you have a patent, I see,

which isn't cheap, right?
I loved the story so much more
before the $150,000.

And the patent.
Greiner:
Is that a utility patent?

It's a utility patent
for both products.

So can anybody else
add a pump dispense?
No, absolutely not.

The money's gonna be used

for hopefully entering
other markets, okay?

If we can find
distribution possibilities

in other countries, this is
a product that'll just explode.

Gabe and Cindy, I have good news
and I have bad news.

Good news is, I have a product
like this called Blueland.

That business was a retail
business until COVID hit.

Now it's doing $3 million
a month online direct.

It's way beyond
anybody's expectations,

and they're expanding
their product line wildly.

I can't invest in you.

That's a direct competitor
to what I'm doing.

I'm out.

Thank you, Kevin.
Thank you, Kevin.

We appreciate --
Cuban: You guys, look.

I think what you have
accomplished is incredible.

The challenge for me
is that while it's very timely,

I've just seen so many people

trying to get into
the same space.

You know, you may be able
to patent it for this look.

But there are a variety
of different ways

to maybe accomplish
the same thing.

But it's gonna be a challenge
as an investor.

I just don't know the path
that I can take you on.

So for those reasons, I'm out.
But congratulations.

Thank you so much, Mark.
Thank you, Mark.

You're welcome. Thank you.

Herjavec: I think there's
gonna be a lot of people

in this space very quickly.

And it could crush you,

and I'm not trying
to be negative,

but it's staying
ahead of that.
Right.

I'm out.

John: I'm interested
in this business,

and I can help you
with the distribution.

I'll make you an offer.

Usually there'd be three of us

and I'd want to go in a third,
a third, and a third.

But because I think that,
first of all,

a teacher is one
of the country's

most underappreciated
commodities,

I'm willing to go in
for $200,000 for 22.5%.

Thank you, Daymond. Thank you.

Thank you.

Greiner:
You know, I think Daymond

has a good offer
on the table for you.

I'm out.

Daymond,
would you do it for 20%?

I can't take it anymore.
I mean, I've been at the bottom.

I know what it takes
to come back up.

I think you guys are the ones
to take it through this.

That's a crazy offer.

You shouldn't give up 20%
or 22% of your business.

I will give you $200,000
for 15%.

Heck, if I can sell
$100 million...
Cuban: Here comes Robert
to the rescue!

...of inappropriate
ugly Christmas sweaters,

we can sell $100 million
of this.
Heck, yeah.

Yes. $200,000, 15%.

♪♪

Let's do it. It's a deal.

-Let's do it! High five! -Whoa.

Thank you so much.

Love it. Hug!

Thank you, guys, so much.

-Oh, Robert. -Congratulations.

All you guys,
thank you very much.

Robert, I thought you said
there was so much competition.

-Congratulations.
-What happened?

Daymond's nose is at
the finish line, but, no!

Robert Herjavec comes
from behind.

Whammo! He hits the line.

Stealing the deal --
Robert Herjavec.

Sometimes you just got
to believe in the people

standing on that carpet.
Amen to that.

Thank you for that. Thank you.

-We won't disappoint.
-Congratulations, guys.

-Thank you, guys. -We got this.

-Congratulations.
-Thank you, thank you.

-Bye. Thank you. -Congrats.

Whoo! We love you,
Bronson, Blake, Violet, Wyatt.

Yeah!
I think to be a role model
to my kids,

it just means so much
to be able to show them

that whatever they put
their mind to they can achieve

and there's nothing
that can stop them.

♪♪

Narrator: Next into the t*nk
is a better way

to prep your greens.

♪♪

♪♪

Hello, Sharks.
My name is Jill Visit.

And I'm from Austin, Texas.

I'm here seeking $100,000
for 20% of my company,

the Salad Sling.

The Salad Sling is the world's
best greens-drying device.

We all want to be healthy
and eat more veggies.

But until now, the only option
has been my nemesis,

my old salad spinner.

This thing is huge,
and it's a pain to wash.

Every time I want to use it,

I got to grab it off
the top shelf

and then wash all these pieces.

For a busy working mom

just trying to make
a quick, healthy meal,

that just does not work.

So I invented a better way.

And I call it the Salad Sling.

This funny-looking towel
dries wet greens in seconds.

Simply place your wet greens,
lettuce, or herbs in the center,

gather up the handles,
and sling it.

[ Laughter ]

Whoo!

The centrifugal force
of the spinning

pulls the moisture
from the greens,

and the super-absorbent
microfiber soaks up the excess.

No. Oh, my God.

There's also a waterproof
liner in the center

that keeps all that water from
flying all over your kitchen.

Best of all, when you're done,

simply flip it over
and use it again,

hang it up to dry, or toss it
in the washing machine.

And no more reaching
for the top shelf.

The Salad Sling is compact
and easy to store anywhere.

So who's ready to help me

take the hassle
out of prepping healthy meals?

And now you guys each
have a sample.

I would love for you to show off
your slinging style, as well.

So just open it up.

Just toss it in there.

Like the whole thing? Yep.

That's all you got to do.
This is right, right?

Yes, absolutely.
I feel like I'm gonna
lassoo something.

You can do it. You can do it.

Side to side. Whoo!

-Oh, my God. Wait. -Flying.

Well, you got to hold it tight
at the top.

Yeah, you got to
hold yours together.
Got to hold on tight.

There you go. There you go.

-Yep, you got your figure eight.
-Yeah.

You can do the side.

Cuban: See, in the old days,
we'd be battling it out.

I'd be smacking you across
the head with this thing.

Jill, is there any recommended
time that I got to do this for?

It only takes
a couple of seconds.



Yee-haw! Yee-haw!

Where did this inspiration
come from?

I'm a working mom.

I like to make healthy meals
for my kids.

What I would do,
because I really don't
like my salad spinner,

is I would use a dish towel
and sling it around.

And it made a huge mess
all over my kitchen.

And my family
thought I was nuts,

and I was just like,
"Wow, there's an idea here."

How much does it cost?
They retail for $19.99.

And what's it cost you
to make, Jill?

Right now it costs me --
Landed price is $7.58.

What are your total revenues,
and how do you sell it?

I've been selling
since February of 2019.

I sold 2,200 of them last year,




Pretty good. Wow. Okay.

So total revenue -- total sales
right now is $49,000.

Wait a second. $49,000.


is not good news.
Wow.

Okay, yes. That's bad.

So what happened was, we got a
ton of great press in the fall.

We were written up
in The New York Times,

The Boston Globe, NPR.

When the NPR story hit
two weeks before Christmas,

it went bananas,

and I sold through
almost all of my inventory,

and then COVID
shut down my factory.

And so they were on back order
for months and months.

So you have the demand.

You just haven't had the product
to fulfill it.

Yes, I didn't get my next order
until July 9th.
Wow.

You've got all this PR
that's been driving your sales.
Yes.

How are you going to sell it
once the PR is over?

So I'm now trying to get

some e-mail campaigns going
and social media.

How much money
have you put into it?

So far, of my own money,
$60,000.

But I don't owe anybody.

I don't have any debt
other than to myself.

So what are you gonna
use the money for?

I've got to get rid
of these inventory issues

because that's k*lling me.

Every time we get a good story

or something happens, boom,
I'm out of inventory.

And so I want to have
more inventory on hand.

Bottom line is, you sold
$50,000 worth of product.

I do -- I'm underwhelmed.

Okay.
Sorry.
I'm just underwhelmed.

At the end of the day,
I look at it and say to myself,

it's been in the market
and it has underwhelmed.

This is not the product
that's gonna set you free.

It just isn't.

And sometimes entrepreneurs
spend a long time

on something they love a lot
because it was their idea

when really what they
should be doing

is taking it behind the barn
and sh**ting it.
Cuban: Hell, no!

That is so stupid, Kevin.
And I think this product
deserves that category.

No! It's a barn burner. Sorry.

No. In the wrong way.

No.
Look, I'm sorry, Mark.
I'm sorry.

No.
You have to tell
the truth sometimes.

That's why I'm here.

The minute you find the truth,
you can tell it.

No, this is the truth.

This product is gonna be
brutal to sell, very brutal.

To displace what already exists
that works so well --

very hard to do.

I'm sorry. I'm out.

Okay.

John: In regards to the product,

I know that I'm the kind
of person that buys it once,

tries it once,
and then doesn't do it,

so it's just me
being that consumer...
Okay.

...that causes
that little roadblock for me.

So I wish you luck,
but I'm out.
Okay. Okay, thank you.

I know a lot of people really do
like it and use it repeatedly.

My concern is, unless you expand
into other products,

it's a $19.99
trivial kind of product.

I don't mean that in a mean way,
but I think it's a gift.

There's nothing wrong
with a side hustle.

That's how I see it.

It's not a business
I would invest in.

I'm out.

Okay. Okay.

Cuban: When it comes
to Salad Sling, Jill,

you had as much money
as you had,

you kind of went for
the inventory you could afford,

you busted your butt
to go out and get PR

that sold through
your inventory,

which is perfect,
the exact way to do it.

But you didn't tell me
how you're gonna sell it

without PR, right?

You haven't said, "I know
exactly what I'm doing."

So I don't see a path
where I could

just take this product
and run with it.

So for those reasons, I'm out.

Okay. Okay.

I'm that person where, like,
I wrap it up in paper towels

so that every piece is,
like, kind of getting dry.

Uh-huh.
And so I was a bit
on the fence here about this.

You know, how many people
would really do this

versus spinning
or rolling?
Yeah.

And I think that you'll probably
have a decent market

but I think a market,
you know, good for you

but not for a partner, too.

And so for that reason, I'm out.

Okay, thank you all for
your time and your feedback.

-Thank you, Jill.
-Congratulations, Jill.

-Thank you, Jill.
-Yeah, thanks a lot. Bye.

-Thank you, Jill. -Good luck.

The Sharks didn't really seem
to understand

the need for the Salad Sling,

but they're just 100% wrong.

And so I'm gonna keep on going.

And I know America
wants to clean out

those kitchen cabinets,
and we're gonna be there.

♪♪

Narrator:
Next up is a modern version

of an important
health accessory.

♪♪

Hey, Sharks,
my name is Justin Wang.

I'm here today
to ask for $500,000

for 1% of my company, LARQ.

[ Laughter ]

Have you ever noticed
that funky smell

coming from your
reusable water bottle?

I bet you have. Oh, man.

And if you're like most people,

you do what we call
the sniff test.

[ Sniffs ] Whoo-whee.

The average
reusable water bottle

contains more bacteria colony

than your dog bowl
or toilet seat.

No wonder they stink.

And it's no wonder
it's so tempting

to reach for a single-use
plastic water bottle.

The result --
over one million of these guys

are consumed
every single minute.

And that's no good
for your health

and even worse
for the environment.

That's why we invented
the LARQ Bottle.

The LARQ Bottle is the world's
first self-cleaning water bottle

that purifies water on the go.

With a simple press of a button
and in just 60 seconds,

the LARQ Bottle activates

our patented UV-C LED
technology, PureVis,

to eradicate 99.99%

of harmful and odor-causing
bacteria, viruses, and mold.

The result -- pure water
from a pristinely clean bottle.

So, Sharks, who's thirsty
for a great deal?

[ Chuckles ]

Just want to be clear
I heard you properly.

$500,000 for 1%?

That's correct, Robert.
O'Leary: Congratulations.

Highest valuation ever requested
in the Shark t*nk.

You seem like
a reasonable human being.

Tell us why it's $50 million.

By the way, in all transparency,
I have a couple of these.

Oh, you do? Great. Yeah.

You do? That is awesome. I do.

But what's the market
opportunity that justifies this?

So it's a huge market.
Big water's a real thing.

It's a $300 billion market
worldwide,

of which reusable market
is only 7%, and it's growing.

I tried to swear off of
single-use plastic water bottles

several years ago.

I bought several
reusable options,

and sure enough, they ended up
in the back of the cabinet

or in my gym bag.

They would collect mold.

If it sat in my car,
it would get stinky.
Ugh.

So it's the self-cleaning part
that's worth --

It's the self-cleaning
and purifies.

It looks to me like
you have a UV light in the top.

Can you explain how this works
and what it does?

This is actually
an optical system

that's designed to reflect
the UV light inside.

So simply you press this button.
The UV light turns on.

My co-founder is a PhD
in physics from Caltech.

He's engineered this
to bounce the optical light

throughout the bottle.

So then how many minutes
does it take to do that?

We have two modes.
Our normal mode is 60 seconds.

And then we have adventure mode,
which is three minutes --

so if you want to take it to
a developing country or camping

or you're just somewhere where
you don't quite trust the water.

Justin, is it safer
than boiling water?

It would be the equivalent
of boiling water

for like 20 minutes.

Really? Competition.

Are you the only one that has
UV activation and cleaning?

We launched in October of 2018.

We were the first one
on the market.

We have about 10 patents,
both utility and design,

around this product
and other products.
Wow, that's a lot.

But there are copycats out there

that we're pursuing potential
legal actions for right now.

So, Justin,
why is it worth $50 million?

So we launched this product
in 2018,

so we've been on the market
for a little under two years.

Almost two years, huh?

Under two years, and in
our first full year in 2019,

we did a little over
$5.5 million in sales.

There you go.
In the last 12 months,

we've done over $9 million.

This year, we're planning
on doing $14 million.

How much are you gonna make
on the $14 million?

So we brought on our first
outside venture capital round

earlier this year in January,

and we leaned into
growing the business.

So this year, we're expecting
to lose about $1 million.

Herjavec: Justin,
how much did you raise?

$6.7 million.

At what valuation?

At a $31.7 million valuation.

Cuban: So, Justin,
let's talk real business.

You've only raised $6.7 million.

How much do you have
in the bank?

I have about $6.5 million.

Okay, so you really haven't
had to spend anything, right?

Good for you. Yeah.

What do these retail for?

The one you have right there
is $95.

I paid $95 for this?

Yeah, see? Holy crap.

Herjavec:
It's actually not bad.
And it costs you what
to make it?

The landed cost is around $40.

You said you had
a lot of patents.
Yeah.

What are those other products
you already have?

Some of those patents just cover
some other applications,

but some of them do apply
to the new product.

This is the LARQ Pitcher,

which is our first foray
into the home.

Let me do that real quick.

And while that's going,

I'll show you a video
of how that works.

Traditional water pitchers
use a filter.

And the biggest problem is that
they only trap contaminates,

where they could quickly
accumulate and multiply

and actually reverse-contaminate
your water.

Why do they reverse-contaminate?

Because the contaminants
are being trapped

and collected there,
and as germs are growing,

there is a wet, porous
environment that's dark.

So imagine all the things
that could be growing there.

So we take a two-step approach.

The first step,
you see it go through,

and it captures things
like lead, cadmium, mercury.

In the second step,
you simply press this button,

and it'll purify the water
that's gone through.

And as you can see,
that is clear water

that we poured blue water in
that's contaminated.

So clear water, but is
anybody else doing this?

No one's doing this.

A million people on the planet

don't have access
to clean water.
Yep.

And 1.5 million don't
have access to electricity.

Yeah.
So I don't think
any of those people

are getting this bottle
right now

because they don't have $95.


go to our charity partner,


charity: water, Well Aware,

where we build wells in Africa.




Of revenue? Of gross revenue?

Gross revenue. Okay.


off top line.

I mean, you're committed.
I get it.

I am committed.
That is important.

Daymond was gonna stick
a skewer through you.

No, I might still, but I want to
just lay out where I am, okay?

I think we're at a time
where people are really angry.

They're looking for hope.
Mm-hmm.

And when I signed up
to this platform,

the platform didn't start off

as the wealthy
helping the wealthy.

With $6.5 million in the bank,
I just could not do this

because I just think that I'm
here for a different reason.

I think this is crazy.

I'll let the other Sharks
discuss it.

But I'm out.

I also come from a background
where I didn't have a lot.

It's unfortunate that you won't
take that journey with me.

But I respect
what you're saying.

So let me take a sh*t at it.

I support a charity
called One Drop.

Making sure everybody can drink
fresh water around the world

is something I can get behind.

Love to be involved in this,
but I'm not doing it for 1%.

I bring too much value.

I've never done a deal for 1%
for obvious reasons.

I'll do it for 4%.

I don't care
how you structure it --

advisory shares, whatever.

So you want him to do it
at almost one-third

of his last round? I understand.

I didn't say you would
like it, Mark, or you would.

I'm just telling you
what I would do.

Is there other offers out there?

Greiner: You know, to give you
half a million dollars for 1%,

I feel like
I'm not making anything.

The category that we're in
is gigantic.

It's a $300 billion industry.

And it's so ripe for disruption
and so ripe for innovation.

Honestly here, like --

I'm willing to take offers
and listen to counteroffers.

-Make an offer, Lori.
-Make an offer, Lori.

I would love to work with you.
I would love it.

$500,000 for 5%.

[ Laughs ] You keep on
going backwards, Justin.

Herjavec:
Justin, the problem with 1%

is you're priced for perfection.

And, yes, I would love
to own 1% of Apple,

and I would love
to own 1% of Tesla.

But the odds are just so low.

To make it easier
for your investors,

I'll do $500,000 for 3%.

We can work out the other 2%
from your advisory pool.

Mm-hmm. That's my offer.

O'Leary:
And, Mark, are you anywhere?

Yeah, I know where I'm at.

So, look, there's
different platforms

for different reasons, right?

This is a place
where people come

where they just need
a little bit more fuel,

they need a little bit of help.

We're not here
to evaluate companies

that may be billion dollars
in sales

over a trillion-dollar market
in 20 years, which is possible,

but this is not
the place to do it.

So for those reasons, I'm out.

So you have three offers.
What do you want to do?

You know, the offers
are all great

but, even without
the advisory shares,

below my last valuation
of $32 million-ish, right?

To be honest with you,
that's really my bottom line.

What about we got you all in
for half a million dollars each

for $1.5 million total at 4.5%?

And I will also throw in
advisory share of 1%

split between the three of you.

So for a total, it would be 5.5%
for that money.



Yeah.

Okay, here's something we'll do.

Would you consider $1.5 million
for 6% and each Shark gets 2%?

♪♪

You get three Sharks,
huge value for you.

Narrator: Two Sharks are out.

And Justin has one offer
on the table

from Kevin, Lori, and Robert

for his water-purification
company, LARQ.

Huge value for you.

$1.5 million,
$500,000 each, for 6%.

What say you?

I could accept the offer
with one condition --

that structured in a way
that $1.5 million for 4.5%

and the remaining 1.5%

would be advisory shares
to be divided among you.

My question is, do I get 2%
for my $500,000?
You do.

How long is the vesting period
for the advisory shares?



Forget the vesting period.
Greiner: Yeah, what are you
basing that on?

Like, what do I have to do
to get my advisory shares?

I think we just have
a conversation

about what we could do
with the business,

how we could build it together.

Oh, God. Maybe it's QVC.

Maybe it's developing channels.

Justin, let me make it
very simple.

It's too complicated.
You know what?

I'm out

because I've worked really hard
to get to this point.

I don't need you
to interview me.

Greiner: I don't want
contingencies on it.

You know that we're
going to be involved.

We don't want to see that
just evaporate.

Absolutely, absolutely.

I'm in for 2%. for $500,000.

I'll do $1 million for 4%
split between you and Lori.

I'm in.

No advisory, just straight?

Advisory will just vest.
No contingencies.

So half a million dollars each
for 1.5%

plus .5% in advisory shares,


I don't want advisory shares.

I like just the equity.
Can you do that?

Look, I want her
part of the deal for sure.

I see lots of value here.

Whatever it takes to get her
on board, I want the same.

So are you putting a stake
in the sand here?

Yeah, I would go 2%.

Okay, well,
that's what we got to do.

But not advisory shares.

What if those shares
just vested up front?

'Cause I have to
structure something

where I'm not going below
my last valuation.

It's 2% up front.

Done.

Done. Alright.

Yes!

Let's light up the world.

-Thank you so much.
-Oh, that was really good.

Congratulations, Justin.
Good luck.

It feels like I was just in the
trenches, but I'm so excited.

I know we're gonna go places.
Whoo!

I knew they were interested,
and, you know,

I thought that I was gonna
lose them for a second.

But I'm so glad both Lori and
Kevin ended up coming across,

and having those guys
in my corner is just so awesome.

I can't believe it.

♪♪

♪♪