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Narrator: Tonight on
"Shark Tank"...

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Whoa!

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Hi, Sharks.

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Whoa!

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[ Gags ]

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We're looking for
a strategic partner.

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But what's the plan?

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I'm so nervous.
Greiner:
Okay, you know what?

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Take a breath. Take a breath.
I'm so nervous.

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[ Gasps ]

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[ Laughter ]

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I am the Shark
for this deal.

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That's the ultimate flex.

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Well, then what are we
talking about here, Doc?

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[ Cheering ]

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O'Leary: We've never seen this
on "Shark Tank."

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Never.
And we've been doing this

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for 15 years.

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Cuban:
That's a big ass dog.

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Herjavec: Did not expect
that to happen.

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Narrator: First into the Tank
is a business seeking to lend

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a helping hand to those in need.

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Hi, Sharks.

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I'm Dr. Aadeel Akhtar from
San Diego, California.

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I'm here seeking $1 million for
2% equity in my company Psyonic,

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where we develop advanced bionic
limbs that are accessible for

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both humans and robots.

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When I was 7 years old,

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I met someone missing a limb
for the first time.

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She was my age,
living in poverty in Pakistan,

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where I was visiting,
missing her right leg and using

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a tree branch as a crutch.

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That's what inspired me
to go into this field,

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and that's why I developed
the Ability Hand.

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It's the fastest
bionic hand on the market.

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It's the first to provide
touch feedback to users,

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and you can control it
with your muscles,

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like Sergeant Anderson
over there.

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It's also water resistant
and USB-C rechargeable.

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You can even charge
your phone from your hand,

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a superhuman ability.

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The Ability Hand has made
a huge difference

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in the lives of our users.

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For example, Sergeant Anderson
can actually hold and feel his

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daughter's hand again,
something he couldn't do

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with any other
prosthetic before.

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But he can also take Psyonic's
Ability Hand to the extreme.

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[ Cheering ]

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Wow!

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That was so cool!

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So the Ability Hand isn't just
for prosthetics.

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It's also being used on robots
around the world,

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including at major
tech companies

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and even on missions into space.

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So, Sharks, who wants to join
our bionic revolution

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and change the world
one hand at a time?

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I want to actually introduce you
to Sergeant Garrett Anderson.

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Hi, Sharks. I'm retired
Sergeant Garrett Anderson.

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I lost my arm in Iraq
in 2005 from

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an improvised
explosive device.

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I've used a lot
of prosthetics in my

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18 years of being
an amputee.

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They're too heavy, too slow,
not functional and not durable.

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So the Psyonic hand has
really changed my life

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and given me a new way to
interact with society.

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Thanks for your service.
Thank you.
John: Thank you.

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Tell us about you and how you
came up with this.

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Absolutely.
So after I had met that

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7-year-old girl in Pakistan,
I ended up getting

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a bachelor's degree in
biology from

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Loyola University Chicago,

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a master's degree
in computer science.

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From there, I got another
master's in

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Electrical and computer
engineering,

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PhD in neuroscience,
and then I left medical school

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because this
was a bit more fun.
Wow.

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When I was
a graduate student,

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we started
3-D printing these hands.

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What happens next?
You raise a lot of money.

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[ Laughs ]
Yeah.
How much have you raised?

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So we've raised
$3.6 million so far.

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Okay.
And we're actually

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in the middle of
a StartEngine crowdfunding

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campaign where we
raised $2.2 million.

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What money have you
raised in total,

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and at what valuation?

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Well, we raised $1.4 million at
the $12 million valuation.

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And then we raised $2.2 million
so far on StartEngine

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at the $50 million --

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Over what
period of time?

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Just almost a year now.

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A whole year, you've only been
able to raise $2.2?

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Well, we also get money from
grants, as well.

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How much?

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We've raised
$2.4 million in grant funding.

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And then we should be getting
another $2.7 million

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next year from the DoD.

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That just doesn't make any sense
to me that you would spend

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all that time on StartEngine
just to raise $2.2 million

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when given the impact,
if what you're saying

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is accurate,
there's a thousand people

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who would write
that check.

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There are several reasons
why we decided to go

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to the equity
crowdfunding route.

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So one of them is half
of our sales actually come from

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social media.
From social media?

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Social media.

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You said sales?
So you're actually selling?

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We are actually
selling this.

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And so this is an FDA registered
medical device.

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We got it covered
by Medicare in the US.

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Oh, wow, okay.
Wow.

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Put that in perspective,
before this hand came along,

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only 10% of patients in
the US could afford it.

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How much does
it cost, doctor?

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Um, this costs $15,500.

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What's it cost
you to make it?

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It costs us
$1,800 to make it.

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How many patients
do you now have?

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We have over
100 patients.

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But our biggest problem
is that we've got more demand

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than we can produce,
and so we want to start

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ramping up our production
so we can get these --

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How many are you
producing a year?

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Um, so right now,
we're actually about

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a capacity of
like 100 a year.

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Why is your
capacity just 100?

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By next year,
we're looking at potentially

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doing at least 500 hands
per year and then

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a thousand and more.

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Why aren't the doctors
who specialize in

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people in these
circumstances, the VA,

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why aren't they just
all over you, just saying,

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"We'll take
all you can make"?

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Yeah, they have been taking
all that we can make.

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And so that's why
we're trying to build

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our production capacity.

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How much are you going to
have to invest to

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increase the manufacturing
capacity to get

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to a thousand
units a year?

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To get to a thousand
units a year?

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Um, up to 5 million
in this round.

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Doctor, did
you ever pitch

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equity guys that only
specialize in health care?

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What we've seen in
that space is that

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it's either one
or the other.

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They like either go into
robotics purely

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or either go into
the health care field.

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But when you pitch
the equity guys

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who are into robotics...

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Yeah.
...what was the feedback?

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Why didn't
they invest?

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Um, so some of them
didn't care for

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the mission for humans,
right?

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They didn't care that --

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I just cannot
see that at all

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for somebody who's
in the health care space.

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I mean, look, if you
would have come to me and said,

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"I just need $5 million,
we can dominate this industry."

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And I'm saying, "Okay,
let's just negotiate

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because $5 million
is a lot of money."

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Sure.
But to try to

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change people's lives
like that --

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In the scope
of things, it's not.

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Scope of things aside,
this just does not add up to me.

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So for those reasons,
I'm out.

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Understood.

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Herjavec: Yeah, Dr. Aadeel,
when I was on

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"Dancing With the Stars",
a good friend of mine

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to this day, Noah Galloway,
you know, great veteran,

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uh, he lost
his arm and his leg.

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And I know the pain
of this.

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It's not just as simple as
simply attaching it.

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Absolutely.

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There's a lot of infections,
a lot of issues with it.

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How do I attach
this to the limb?

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Yeah, absolutely. So this is
the hand right over here.

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Um, and so --

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So I need that,
the doctor --

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Exactly. The clinician,
the prosthetist

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makes the socket,
and then they attach our hand

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to it with all of
our electronics.

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So how would they --
Custom fit it.

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So that arm --

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So you're making
just the hand?

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We make just the hand.
Exactly.

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I'm very bullish
on this space.

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I think it's going
to change people's lives.

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But that knowledge
makes me skeptical,

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that with
a few million dollars,

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you are what you are.

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Perhaps it's
my own skepticism.

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I wish you all the best,
and incredible mission,

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but I'm out.

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Thank you, Robert.

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Doctor, I just want to
clean up your presentation

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a bit with
some numbers.

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First of all,
lifetime sales.

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Yeah, so lifetime sales
is about $2 million.

200
00:07:01,288 --> 00:07:03,957
Okay. And what were
the sales last year?

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So it was
just over $1 million.

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And you made
money on that?

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00:07:06,893 --> 00:07:07,894
Yes.
How much?

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Uh, $100,000.
Okay.

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00:07:09,129 --> 00:07:10,930
This year, what do you think
you'll do in sales?

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So we'll probably be
around $200,000 at least.

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My issue with this deal is
I don't get out of bed

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for 2% of anything,
because what I'm worried about

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is the more successful you are,
the more you have to raise,

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the more I get diluted.

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I know what the answer
is going to be.

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I want 10%
for a million bucks.

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Uh, yeah, I mean, unfortunately
that's going to be too high.

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I mean, like, I got
to wet my beak here.

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Are there other
offers here, too?

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Greiner:
Daymond and I love it.

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We believe in it.
We believe in you.

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So we'd like to give
you an offer.

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Narrator: Two Sharks are out.

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Dr. Akhtar has an offer
from Kevin

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00:07:56,976 --> 00:07:59,879
for his robotic hand
company Psyonic.

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But Lori and Daymond
are also interested.

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We'd like to
give you an offer.

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We'd like to do
$1 million for 6%,

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00:08:07,053 --> 00:08:09,622
but you get both Sharks.
Both of us, yeah.

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Got it.

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00:08:10,123 --> 00:08:11,191
But we don't
want to be diluted.

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That could
be problematic.

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So what do you think of that?
Or do you have a counter?

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00:08:17,097 --> 00:08:20,066
So yeah -- So we want
to protect our valuation, right?

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00:08:20,066 --> 00:08:22,102
Because we want
to protect our investors.

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So what if it were $1 million
at 2% shares.

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But then we can throw
in advisory shares.

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00:08:29,075 --> 00:08:31,845
And so let's say
an additional 1%

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for each of you.
Would that work?

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So 4%?
4%. Yes.

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00:08:35,782 --> 00:08:36,383
No.

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We can get into the details
of how we structure it.

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But the one
important detail is...

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Right.
...we don't want
to be diluted.

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Daymond, to be clear, you're
asking for preference shares,

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and for viewers at home,
the problem with

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preference shares is that,
as more money is raised,

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your percent is protected
in perpetuity,

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which means so you're
never going to get diluted

246
00:08:53,833 --> 00:08:55,135
while everyone else is.

247
00:08:55,135 --> 00:08:56,302
You sit on
the top of the stack.

248
00:08:56,302 --> 00:08:57,937
But we bring an incredible
amount of value.

249
00:08:57,937 --> 00:08:59,139
O'Leary:
But you understand

250
00:08:59,139 --> 00:09:01,141
the problem for
your shareholders.
I understand.

251
00:09:01,141 --> 00:09:02,442
You're going to have
to disclose that to them.

252
00:09:02,442 --> 00:09:06,813
We'd be willing to do the 2%
with the 2% advisory

253
00:09:06,813 --> 00:09:07,947
but non-diluted.

254
00:09:09,315 --> 00:09:13,319
Which really isn't bad,
considering what you get.

255
00:09:13,319 --> 00:09:15,422
That's true.
I mean -- but I mean,

256
00:09:15,422 --> 00:09:18,291
we're going to be turning this
into a $1 billion company.

257
00:09:18,291 --> 00:09:20,093
That's why we're
giving you an offer.

258
00:09:20,093 --> 00:09:22,162
And we'll be helping you
do that a lot faster.

259
00:09:22,162 --> 00:09:23,129
Um...

260
00:09:23,129 --> 00:09:24,431
Well, it is
the Shark Tank.

261
00:09:24,431 --> 00:09:27,066
You knew you were going
to run into this.

262
00:09:27,066 --> 00:09:28,435
You are in a difficult
situation, doctor,

263
00:09:28,435 --> 00:09:31,905
with this idea of
putting preference above others.

264
00:09:31,905 --> 00:09:34,040
My offer is
$1 million for 10%.

265
00:09:34,040 --> 00:09:36,009
But they're just standard
common shares,

266
00:09:36,009 --> 00:09:37,477
and I expect to have
the option to invest

267
00:09:37,477 --> 00:09:41,114
in the future more if I wish,
but I will be diluted.

268
00:09:41,114 --> 00:09:42,582
Anyway, you have
two offers on the table.

269
00:09:42,582 --> 00:09:45,985
I have to agree with Kevin
on this one, where I can't --

270
00:09:45,985 --> 00:09:47,921
I can't do
the non-dilutive shares.

271
00:09:47,921 --> 00:09:49,189
No way
you can do that.

272
00:09:49,189 --> 00:09:51,224
So what if we were
at the 6%?

273
00:09:51,224 --> 00:09:53,026
Yeah, I mean,
then that's just too much.

274
00:09:53,026 --> 00:09:54,294
That's just too much
equity that --

275
00:09:54,294 --> 00:09:55,462
Well, then what are we talking
about here, Doc?

276
00:09:55,462 --> 00:09:59,265
The offer that I'd given,
the $1 million for 2%,

277
00:09:59,265 --> 00:10:03,036
and then an extra 2% in advisory
shares, that is dilutive.

278
00:10:03,036 --> 00:10:04,170
So basically,
Dr. Aadeel,

279
00:10:04,170 --> 00:10:06,739
your counter is
$1 million for 4%.

280
00:10:06,739 --> 00:10:07,340
4%.

281
00:10:07,340 --> 00:10:09,175
What do you guys
want to do?

282
00:10:09,175 --> 00:10:10,910
Why don't we split
the baby?

283
00:10:10,910 --> 00:10:12,145
[ Laughs ]

284
00:10:12,145 --> 00:10:13,947
Go to 5% total.

285
00:10:13,947 --> 00:10:16,082
Go to 5%,
and you've got a deal.

286
00:10:16,249 --> 00:10:18,785
I would do that deal
at 5%.

287
00:10:18,785 --> 00:10:19,252
No.
Also.

288
00:10:19,252 --> 00:10:21,888
Ooh.
No, no.

289
00:10:21,888 --> 00:10:23,156
Wow.

290
00:10:23,156 --> 00:10:24,190
We'll do the deal
together.

291
00:10:24,190 --> 00:10:26,326
I got two Sharks.
That's right.

292
00:10:26,326 --> 00:10:28,495
And two is better
than that one.

293
00:10:28,495 --> 00:10:30,463
No, I am the Shark
for this deal.

294
00:10:30,463 --> 00:10:32,398
Would you want to go in
with Daymond and Lori?

295
00:10:32,398 --> 00:10:34,167
Sure, I would,
of course.

296
00:10:34,167 --> 00:10:35,335
Um...

297
00:10:35,335 --> 00:10:37,337
But here is my proposal.
Okay.

298
00:10:37,337 --> 00:10:40,073
If Kevin wants to come in
with Lori and I,

299
00:10:40,073 --> 00:10:43,076
we would all get
two and a half shares.

300
00:10:43,076 --> 00:10:44,377
Seven and a half, right?

301
00:10:44,377 --> 00:10:46,146
It's two and a half,
two and a half, two and a half.

302
00:10:46,146 --> 00:10:47,947
You know that would blow you up
huge on StartEngine.

303
00:10:47,947 --> 00:10:50,483
Yeah, deal.
That's a big deal.

304
00:10:50,483 --> 00:10:53,253
Um, but then I'm giving away
more equity

305
00:10:53,253 --> 00:10:54,354
for the same amount
of money.

306
00:10:54,354 --> 00:10:55,488
But you're getting
three Sharks.

307
00:10:55,488 --> 00:10:57,357
I personally think on this
deal, the more Sharks,

308
00:10:57,357 --> 00:10:59,259
the better in terms
of getting the story out.

309
00:10:59,259 --> 00:11:02,328
So seven and a half, according
to Daymond, three Sharks.

310
00:11:02,328 --> 00:11:04,063
You'll have to take
a few hundred basis points

311
00:11:04,063 --> 00:11:05,265
out of your own stash
to do it.

312
00:11:05,265 --> 00:11:06,432
And these are
common shares.

313
00:11:06,432 --> 00:11:08,368
Sure.
I mean, I would do it

314
00:11:08,368 --> 00:11:11,504
for six because I think
there's symmetry to that.

315
00:11:11,504 --> 00:11:14,374
If he said six,
would you do the deal.

316
00:11:14,374 --> 00:11:16,142
For all three of us?
Yeah.

317
00:11:16,142 --> 00:11:17,277
Daymond,
would you do it?

318
00:11:17,277 --> 00:11:19,779
I mean, I don't want --
Take 200 basis points.

319
00:11:22,215 --> 00:11:23,316
I'll agree with
whatever you want.

320
00:11:23,316 --> 00:11:25,151
Alright.
I would do it.

321
00:11:25,151 --> 00:11:26,452
Herjavec:
$1 million for 6%.

322
00:11:26,452 --> 00:11:28,121
You better take it
because you can see

323
00:11:28,121 --> 00:11:29,889
they can't agree
on anything.

324
00:11:29,889 --> 00:11:30,456
[ Laughter ]

325
00:11:30,456 --> 00:11:32,926
Dr. Aadeel,
what will you do?

326
00:11:34,194 --> 00:11:36,062
I think we've got a deal.

327
00:11:36,062 --> 00:11:37,063
Whoo!

328
00:11:37,063 --> 00:11:39,165
Alright,
there we go.

329
00:11:39,165 --> 00:11:41,834
I'm confused.
Do you give us the money?

330
00:11:41,834 --> 00:11:42,468
[ Laughter ]

331
00:11:42,468 --> 00:11:44,170
Well, you'll be
making money, right?

332
00:11:44,170 --> 00:11:46,072
You're not shaking me,
my hand with that.

333
00:11:46,072 --> 00:11:47,173
There you go.

334
00:11:47,173 --> 00:11:48,942
Absolutely
fantastic presentation.

335
00:11:48,942 --> 00:11:50,143
Thank you.

336
00:11:50,143 --> 00:11:51,110
Good job.

337
00:11:51,110 --> 00:11:52,979
Thanks for
your service, sir.

338
00:11:54,347 --> 00:11:55,448
Yeah!
Yeah!

339
00:11:55,448 --> 00:11:58,885
Let's do it.
Let's do it. Boom!

340
00:11:58,885 --> 00:12:00,053
[ Laughs ]

341
00:12:00,053 --> 00:12:01,321
This is great.

342
00:12:01,321 --> 00:12:03,690
Akhtar: Making this deal with
the Sharks is going to be huge

343
00:12:03,690 --> 00:12:06,292
in terms of getting
our production capacity up there

344
00:12:06,292 --> 00:12:08,228
and really helping
all the people

345
00:12:08,228 --> 00:12:09,562
around the world
that could use this hand,

346
00:12:09,562 --> 00:12:12,065
and that's what
I'm most excited about.

347
00:12:13,433 --> 00:12:16,135
Narrator: In season 14,
Jeremy and Kaitlyn Carlson

348
00:12:16,135 --> 00:12:17,437
made a deal
with Barbara Corcoran

349
00:12:17,437 --> 00:12:20,607
for their European inspired
ice cream treat, Crispy Cones.

350
00:12:20,607 --> 00:12:23,309
I am the person that knows
more about franchise

351
00:12:23,309 --> 00:12:24,477
and food
than anybody here.
Jeremy: Totally.

352
00:12:24,477 --> 00:12:26,446
Barbara, we'll
take your offer.
Okay.

353
00:12:26,446 --> 00:12:28,414
Narrator: Let's see
what they're up to now.

354
00:12:28,414 --> 00:12:32,418
Crispy Cones is a traditional
cinnamon sugar dough cone

355
00:12:32,418 --> 00:12:34,320
that we grill
rotisserie style

356
00:12:34,320 --> 00:12:36,389
fresh to order right
in front of the guest.

357
00:12:36,389 --> 00:12:39,125
Coming into the Tank,
we were looking for a Shark

358
00:12:39,125 --> 00:12:40,727
who specialized
in franchising.

359
00:12:40,727 --> 00:12:43,463
Partnering with Barbara Corcoran
gave us that expertise.

360
00:12:43,463 --> 00:12:45,198
Within 24 hours of airing,

361
00:12:45,198 --> 00:12:47,333
we had hundreds of
franchise applications.

362
00:12:47,333 --> 00:12:48,534
In fact, we had
a franchise location

363
00:12:48,534 --> 00:12:50,503
from every single state
in the country.

364
00:12:50,503 --> 00:12:53,640
The franchisees are the key
to this whole operation.

365
00:12:53,640 --> 00:12:56,442
The happier they are, the better
they do, the better you do.

366
00:12:56,442 --> 00:12:59,545
I knew it was a great product,
but what I didn't know

367
00:12:59,545 --> 00:13:02,415
is I had the makings
of a great franchise.

368
00:13:02,415 --> 00:13:04,384
I think
these self-serving kiosks

369
00:13:04,384 --> 00:13:06,486
are the best thing you did
the first year in business,

370
00:13:06,486 --> 00:13:07,687
and look what
it's doing for you.

371
00:13:07,687 --> 00:13:11,524
Crispy Cones became so popular
that they needed a solution

372
00:13:11,524 --> 00:13:14,327
to how many people who wanted
them and wanted them fast.

373
00:13:14,327 --> 00:13:17,330
So they used my money
to launch the self-serve kiosk

374
00:13:17,330 --> 00:13:20,033
so no customers
would ever wait in line.

375
00:13:20,033 --> 00:13:20,667
Hello, everybody!

376
00:13:20,667 --> 00:13:23,403
Thank you so much
for coming to the grand opening

377
00:13:23,403 --> 00:13:25,638
of our Crispy Cones
Tempe location.

378
00:13:25,638 --> 00:13:29,442
Today, Crispy Cones has sold
18 locations in Arizona,

379
00:13:29,442 --> 00:13:32,312
Utah, Idaho, Florida, and Texas.

380
00:13:32,312 --> 00:13:34,180
Jeremy: Our new technology
gathers data

381
00:13:34,180 --> 00:13:35,548
which provides us
valuable feedback

382
00:13:35,548 --> 00:13:38,584
on store cleanliness,
store experience, and quality.

383
00:13:38,584 --> 00:13:41,688
It has increased
our overall revenues 60%.

384
00:13:41,688 --> 00:13:43,489
In the five years
before "Shark Tank",

385
00:13:43,489 --> 00:13:46,326
we were just under
$500,000 in sales.

386
00:13:46,326 --> 00:13:47,794
Kaitlyn: It's been seven months
since "Shark Tank",

387
00:13:47,794 --> 00:13:52,165
and we now have surpassed over
$2 million in lifetime sales.

388
00:13:53,399 --> 00:13:54,500
Jeremy: I have been
watching "Shark Tank"

389
00:13:54,500 --> 00:13:55,635
since middle school.

390
00:13:55,635 --> 00:13:57,437
I basically grew up
with Barbara,

391
00:13:57,437 --> 00:13:58,671
watching her
on television,

392
00:13:58,671 --> 00:14:00,406
and never once in my life
did I think

393
00:14:00,406 --> 00:14:03,042
that she would become
a partner in my business.

394
00:14:03,042 --> 00:14:04,243
Whoo!

395
00:14:04,243 --> 00:14:05,311
We were on top
of the world

396
00:14:05,311 --> 00:14:06,346
after we had
left "Shark Tank."

397
00:14:06,346 --> 00:14:08,081
Kaitlyn: That moment
was one of the best

398
00:14:08,081 --> 00:14:08,548
moments of our lives.

399
00:14:08,548 --> 00:14:10,450
That is until
a few months later

400
00:14:10,450 --> 00:14:14,253
when we welcomed our first
baby girl into the world, Macy.

401
00:14:14,253 --> 00:14:16,689
Hey, how are you, Macy?

402
00:14:16,689 --> 00:14:19,492
Our advice to other
entrepreneurs is to dream big,

403
00:14:19,492 --> 00:14:23,029
work like crazy for your goals,
and never give up.

404
00:14:23,029 --> 00:14:29,102
♪♪

405
00:14:34,507 --> 00:14:36,442
Herjavec: Oh, this
is dessert, Lori.

406
00:14:36,442 --> 00:14:40,113
I think we
will be chowing down.

407
00:14:40,880 --> 00:14:43,716
Narrator: Next in the Tank
is a professionally trained chef

408
00:14:43,716 --> 00:14:47,253
with a line of surprisingly
decadent desserts.

409
00:14:47,253 --> 00:14:53,593
♪♪

410
00:14:53,593 --> 00:14:56,462
Hi, Sharks.
My name is Alejandra.

411
00:14:56,462 --> 00:14:57,497
And I'm Rahmi.

412
00:14:57,497 --> 00:14:58,731
We're from
San Francisco, California.

413
00:14:58,731 --> 00:15:00,767
We're seeking
$100,000 investment

414
00:15:00,767 --> 00:15:03,736
in exchange for 20% equity
in our business.

415
00:15:03,736 --> 00:15:06,806
Sharks, we create
delicious, healthy,

416
00:15:06,806 --> 00:15:10,443
protein rich desserts
like this
petit gateau,

417
00:15:10,443 --> 00:15:15,181
concocted with ingredients like
pasteurized chicken breast.

418
00:15:15,181 --> 00:15:17,416
Greiner: What?
Alright.

419
00:15:17,416 --> 00:15:20,386
And even this beautifully
mouthwatering

420
00:15:20,386 --> 00:15:23,356
crafted cake made with
wild elk,

421
00:15:23,356 --> 00:15:26,159
fermented goat milk,
and organic berries.

422
00:15:26,159 --> 00:15:28,161
Was not expecting that.

423
00:15:28,161 --> 00:15:29,328
Not at all.

424
00:15:29,328 --> 00:15:30,763
Even nature
inspired pastries

425
00:15:30,763 --> 00:15:33,466
like this rose shaped
dessert made with

426
00:15:33,466 --> 00:15:34,700
wild antelope heart.
Heart?

427
00:15:34,700 --> 00:15:36,235
And organic
beetroot cream.

428
00:15:36,235 --> 00:15:36,736
Oh.

429
00:15:36,736 --> 00:15:38,704
Sharks --
Don't take our word for it

430
00:15:38,704 --> 00:15:40,773
that these
are absolutely delicious.

431
00:15:40,773 --> 00:15:43,409
You're gonna have to take
it up with our head chef.

432
00:15:43,409 --> 00:15:45,945
[ Whistles ]
Achilles.

433
00:15:47,280 --> 00:15:48,581
Greiner: Oh.

434
00:15:48,581 --> 00:15:50,283
Come on, big guy.

435
00:15:50,283 --> 00:15:53,686
[ Sharks "Aww"ing ]

436
00:15:53,686 --> 00:15:56,355
Herjavec: It's a mastiff.

437
00:15:56,355 --> 00:15:58,157
John: Oh, my God.

438
00:15:58,157 --> 00:16:00,193
Hello. Hello.

439
00:16:00,193 --> 00:16:02,328
That's a big ass dog.

440
00:16:02,328 --> 00:16:03,496
Good job, buddy.

441
00:16:03,496 --> 00:16:05,598
Oh, he's so cute.

442
00:16:05,598 --> 00:16:08,234
I did not
see that coming.

443
00:16:08,234 --> 00:16:09,468
Yeah, I didn't at all.

444
00:16:09,468 --> 00:16:11,370
Rahmi: Sharks, we've always
felt our dogs

445
00:16:11,370 --> 00:16:12,738
are an extension
of our family,

446
00:16:12,738 --> 00:16:15,541
and celebrating their birthdays
and special occasions

447
00:16:15,541 --> 00:16:17,410
is something we love to do.

448
00:16:17,410 --> 00:16:18,711
That's why we craft
this line of cakes

449
00:16:18,711 --> 00:16:20,713
and pastries
specifically dedicated

450
00:16:20,713 --> 00:16:22,682
to our animal family members,

451
00:16:22,682 --> 00:16:25,585
inspired by my decades
of culinary training.

452
00:16:25,585 --> 00:16:27,753
That's right. I'm a
professionally trained chef.

453
00:16:27,753 --> 00:16:31,591
And I always knew my prestigious
Le Cordon Bleu degree

454
00:16:31,591 --> 00:16:33,526
would go to good use.

455
00:16:33,526 --> 00:16:35,561
Not only do we offer
incredible pastries

456
00:16:35,561 --> 00:16:36,696
for our pups,

457
00:16:36,696 --> 00:16:39,498
but Dogue hosts the world's
first tasting menu

458
00:16:39,498 --> 00:16:42,301
where your pup
is the star guest.

459
00:16:42,301 --> 00:16:42,802
That's right, Sharks.

460
00:16:42,802 --> 00:16:45,304
Every Sunday
at our Bon Appetit Cafe,

461
00:16:45,304 --> 00:16:46,405
we offer a prefixed...
Aw.

462
00:16:46,405 --> 00:16:47,573
...multi-course tasting menu

463
00:16:47,573 --> 00:16:48,774
with dishes made with

464
00:16:48,774 --> 00:16:52,211
wild Moroccan sardines
and cuttlefish.

465
00:16:52,211 --> 00:16:53,312
Ew.

466
00:16:53,312 --> 00:16:53,813
Wait, there's more.

467
00:16:53,813 --> 00:16:56,682
Not only do we offer
incredible pastries,

468
00:16:56,682 --> 00:16:59,685
but we also offer
prepackaged meals

469
00:16:59,685 --> 00:17:03,689
where all of their food is made
with fresh, whole foods.

470
00:17:03,689 --> 00:17:05,658
Sharks,
We've always loved animals,

471
00:17:05,658 --> 00:17:08,394
and we decided to turn
that love into a business.

472
00:17:08,394 --> 00:17:10,363
So who wants to
join our pack?

473
00:17:10,363 --> 00:17:11,597
Bon appetit!
Bon appetit!

474
00:17:11,597 --> 00:17:12,698
Greiner: Oh, my gosh.
Herjavec: Wow.

475
00:17:12,698 --> 00:17:13,866
Wow.
In front of you

476
00:17:13,866 --> 00:17:15,568
you have some of our
core offerings.

477
00:17:15,568 --> 00:17:16,836
I know we're swimming
with the Sharks today,

478
00:17:16,836 --> 00:17:18,571
but if you feel like
running with the wolves,

479
00:17:18,571 --> 00:17:20,673
you can feel free to take a bite
if you're brave enough.

480
00:17:20,673 --> 00:17:23,509
Well, like, really,
I'm kind of afraid.

481
00:17:23,509 --> 00:17:24,610
[ Laughter ]

482
00:17:24,610 --> 00:17:25,578
[ Gags ]

483
00:17:25,578 --> 00:17:26,712
Are we supposed
to eat it?

484
00:17:26,712 --> 00:17:28,614
No, no, I said,
if you're brave enough.

485
00:17:28,614 --> 00:17:30,483
Greiner:
Oh, we're really not.

486
00:17:30,483 --> 00:17:32,318
Cuban: Daymond is.

487
00:17:32,318 --> 00:17:33,653
It was disgusting?

488
00:17:33,653 --> 00:17:34,887
Daymond, why
are you eating it?

489
00:17:34,887 --> 00:17:37,790
Alejandra: They're all human
grade ingredients, too.

490
00:17:37,790 --> 00:17:39,692
It looked good the way
he was eating it, man.

491
00:17:39,692 --> 00:17:40,693
[ Laughs ]

492
00:17:40,693 --> 00:17:42,662
So it's a retail
establishment?

493
00:17:42,662 --> 00:17:45,031
So we've got a retail store
in San Francisco,

494
00:17:45,031 --> 00:17:47,767
a brick and mortar location.
How many square feet?

495
00:17:47,767 --> 00:17:49,869
So it's a little bit
over 1,600 feet.

496
00:17:49,869 --> 00:17:51,671
Ow, wow.
Okay.
It's your only location?

497
00:17:51,671 --> 00:17:53,572
It's our only location.
Herjavec: How long
have you been there?

498
00:17:53,572 --> 00:17:54,907
What do you gross a month?
What do you gross a month?

499
00:17:54,907 --> 00:17:56,842
So we've been there
for just about a year,

500
00:17:56,842 --> 00:17:59,779
and we're just starting to get
up to around 20K a month.

501
00:17:59,779 --> 00:18:01,747
Okay. You're profitable
on a monthly basis?

502
00:18:01,747 --> 00:18:02,982
We're basically
breaking even.

503
00:18:02,982 --> 00:18:06,852
So you're asking us to invest
in a retail location

504
00:18:06,852 --> 00:18:09,088
because you're not selling
these any other way, right?

505
00:18:09,088 --> 00:18:11,824
Essentially what we do is
we manufacture dog food, right?

506
00:18:11,824 --> 00:18:13,859
The core of our business,
the core of our sales,

507
00:18:13,859 --> 00:18:15,928
comes from prepackaged
fresh food for dogs.

508
00:18:15,928 --> 00:18:17,730
What I'm asking you
to invest in

509
00:18:17,730 --> 00:18:20,600
is helping us bring this
to a much broader reach.

510
00:18:20,600 --> 00:18:23,502
Our goals are to get
our pastries

511
00:18:23,502 --> 00:18:24,770
all over the country,
basically.

512
00:18:24,770 --> 00:18:25,838
How are you
going to do that?

513
00:18:25,838 --> 00:18:27,406
That's why
we're here, guys.

514
00:18:27,406 --> 00:18:28,441
[ Laughter ]

515
00:18:28,441 --> 00:18:29,608
That's what
we need from you.

516
00:18:29,608 --> 00:18:32,445
Is all the dog food
like this?

517
00:18:32,445 --> 00:18:34,413
No. Absolutely not.
Okay.

518
00:18:34,413 --> 00:18:35,514
What is the --

519
00:18:35,514 --> 00:18:37,783
The prepackaged meals
look like slop.

520
00:18:37,783 --> 00:18:39,018
With the bag
of dog food,

521
00:18:39,018 --> 00:18:41,620
what do you sell it for,
how much does it cost?

522
00:18:41,620 --> 00:18:42,688
So it's going to cost me,
let's say,

523
00:18:42,688 --> 00:18:44,624
about $2 per
eight ounce pack.

524
00:18:44,624 --> 00:18:45,558
To make it?
Right.

525
00:18:45,558 --> 00:18:46,726
And then you sell it
for how much?

526
00:18:46,726 --> 00:18:48,694
I'm going to sell them
for about $8 or so, roughly.

527
00:18:48,694 --> 00:18:50,830
Okay. Now let's go
to an individual pastry.

528
00:18:50,830 --> 00:18:52,031
What does it cost you
to make it?

529
00:18:52,031 --> 00:18:53,899
What do you sell it for?
So that white one

530
00:18:53,899 --> 00:18:55,634
in front of you,
I think it's on your top right,

531
00:18:55,634 --> 00:18:58,671
costs me about 85 cents to make.
I sell it for $15.

532
00:18:58,671 --> 00:19:00,473
What?!
So higher margins --

533
00:19:00,473 --> 00:19:01,741
$15?

534
00:19:01,741 --> 00:19:02,742
So wait.
Why would anybody --

535
00:19:02,742 --> 00:19:04,777
For the grams.

536
00:19:04,777 --> 00:19:06,445
For the gram.
$15.

537
00:19:06,445 --> 00:19:07,813
For the gram.
On this.

538
00:19:07,813 --> 00:19:09,515
So this is
our secret sauce.

539
00:19:09,515 --> 00:19:10,950
This is really
what captures attention.

540
00:19:10,950 --> 00:19:13,452
We know these days it's all
about capturing attention,

541
00:19:13,452 --> 00:19:14,687
getting eyes on what you do.

542
00:19:14,687 --> 00:19:15,855
And it's beautiful,
by the way.

543
00:19:15,855 --> 00:19:17,656
Thank you.
Herjavec:
So the businesses

544
00:19:17,656 --> 00:19:20,860
I've got an incredible
Instagram worthy hook,

545
00:19:20,860 --> 00:19:24,497
I come in, hey, by the way,
buy our dog food.

546
00:19:24,497 --> 00:19:25,965
How do you
scale that then?

547
00:19:25,965 --> 00:19:29,101
So the idea of scale is where
we come to you guys, right?

548
00:19:29,101 --> 00:19:32,705
We know what we're good at,
and we see where we're lacking.

549
00:19:32,705 --> 00:19:35,641
What percentage of your
overall sales

550
00:19:35,641 --> 00:19:37,576
are these
specialty products?

551
00:19:37,576 --> 00:19:38,944
Last month, we sold
about 20 grand.

552
00:19:38,944 --> 00:19:41,514
We made about 11 grand worth
of dog food sales.

553
00:19:41,514 --> 00:19:42,515
Okay.
Right.

554
00:19:42,515 --> 00:19:43,649
The rest were
ancillary products,

555
00:19:43,649 --> 00:19:44,817
including these pastries.

556
00:19:44,817 --> 00:19:45,985
O'Leary: And that's where
I come in and say,

557
00:19:45,985 --> 00:19:47,620
"Give me --"
So you're almost 50/50.

558
00:19:47,620 --> 00:19:49,055
Let me buy some fresh
dog food from you.

559
00:19:49,055 --> 00:19:52,525
Not in a pastry form,
just high quality food.

560
00:19:52,525 --> 00:19:53,192
Right.
How long does it last?

561
00:19:53,192 --> 00:19:55,528
So if you keep it in the
freezer, they're vacuum packed.

562
00:19:55,528 --> 00:19:56,662
They last well over a year.

563
00:19:56,662 --> 00:19:57,830
Oh they're frozen.
They're frozen. Yeah.

564
00:19:57,830 --> 00:20:00,766
The challenge you have is
shipping refrigerated goods

565
00:20:00,766 --> 00:20:01,734
is a problem, right?
Right.

566
00:20:01,734 --> 00:20:03,536
It's expensive.

567
00:20:03,536 --> 00:20:05,137
So the problem for me is,

568
00:20:05,137 --> 00:20:08,974
is I don't see this as something
that is really scalable.

569
00:20:08,974 --> 00:20:11,710
I see it as a great
little business for you,

570
00:20:11,710 --> 00:20:12,845
but I don't
see it as something

571
00:20:12,845 --> 00:20:14,780
that you'll ship nationwide
and blow up.

572
00:20:14,780 --> 00:20:17,049
I think it's too difficult
and too costly.

573
00:20:17,049 --> 00:20:20,019
And for all those reasons,
I wish you very good luck.

574
00:20:20,019 --> 00:20:21,187
Alejandra:
Thank you so much.
But I'm out.

575
00:20:21,187 --> 00:20:23,589
Cuban: Guys, I agree with Lori.
I think she nailed it.

576
00:20:23,589 --> 00:20:24,790
It's a great business
for you guys.

577
00:20:24,790 --> 00:20:26,892
You love it, obviously,
but it's going to be

578
00:20:26,892 --> 00:20:29,929
really, really hard to
scale to return any money

579
00:20:29,929 --> 00:20:31,764
at all to an investor.

580
00:20:31,764 --> 00:20:32,865
So for those reasons,
I'm out.

581
00:20:32,865 --> 00:20:33,866
Thank you, Mark.
Thank you.

582
00:20:33,866 --> 00:20:35,801
We appreciate your words.
Thank you.

583
00:20:36,135 --> 00:20:39,772
This side hustle with
the pastries is absolutely crazy

584
00:20:39,772 --> 00:20:41,807
and fantastic
for social, I get it.

585
00:20:41,807 --> 00:20:43,609
We've never seen this
on "Shark Tank."

586
00:20:43,609 --> 00:20:44,810
Never.
And we've been doing this

587
00:20:44,810 --> 00:20:45,945
for 15 years.
Right.

588
00:20:45,945 --> 00:20:47,746
So you have a hook here
and a big one.

589
00:20:47,746 --> 00:20:49,849
And America's going to see this
and go nuts,

590
00:20:49,849 --> 00:20:50,983
but you can't get it to them.

591
00:20:50,983 --> 00:20:53,018
That's the problem
with the deal.

592
00:20:53,018 --> 00:20:55,921
Look, I like you guys, but this
is not an investment for me.

593
00:20:55,921 --> 00:20:57,423
I'm out.
Thank you, Kevin.

594
00:20:57,423 --> 00:20:58,057
Thank you.

595
00:20:58,057 --> 00:21:00,726
You know, um,
I think this is brilliant,

596
00:21:00,726 --> 00:21:02,862
but there are
the challenges, right?

597
00:21:02,862 --> 00:21:04,130
It's refrigerated goods.

598
00:21:04,130 --> 00:21:07,600
You will not be able to get
space in the traditional stores.

599
00:21:07,600 --> 00:21:08,701
A lot of
complications here.

600
00:21:08,701 --> 00:21:09,902
But I think that
you're going to do good

601
00:21:09,902 --> 00:21:12,838
if you just focus on this direct
to consumer just by yourself.

602
00:21:12,838 --> 00:21:14,974
Great business.
I'm out.

603
00:21:14,974 --> 00:21:16,142
Thank you.
Appreciate it.
Thank you.

604
00:21:16,142 --> 00:21:17,910
Herjavec: I know
the pet space very well.

605
00:21:17,910 --> 00:21:21,013
Had one of my best exits
out of it, one of the fastest.

606
00:21:21,013 --> 00:21:22,982
But you know when you come
into the Shark Tank,

607
00:21:22,982 --> 00:21:24,850
you've got to have
a game plan.

608
00:21:24,850 --> 00:21:29,822
And what I heard you say is,
"We don't know how to ship it."

609
00:21:29,822 --> 00:21:31,724
We don't know whether
we should do retail.

610
00:21:31,724 --> 00:21:33,058
We don't know any of that.
Help us."

611
00:21:33,058 --> 00:21:34,160
But you got
to have a game plan.

612
00:21:34,160 --> 00:21:36,095
You got to come up here
with some way

613
00:21:36,095 --> 00:21:37,696
you're going to scale,
and you stood here --

614
00:21:37,696 --> 00:21:39,031
We're looking for
a strategic partner

615
00:21:39,031 --> 00:21:41,834
because we could raise the money
that we're asking for

616
00:21:41,834 --> 00:21:43,769
from friends and family.
Like we --

617
00:21:43,769 --> 00:21:45,938
But what's the plan?
What's the plan?

618
00:21:45,938 --> 00:21:48,641
We need help
with getting the whole

619
00:21:48,641 --> 00:21:49,875
packaging to do
it right.

620
00:21:49,875 --> 00:21:51,944
We don't want to just jump in
to start shipping.

621
00:21:51,944 --> 00:21:55,080
We want to do it correctly
from the get go in order

622
00:21:55,080 --> 00:21:57,950
to just save
the integrity of the product.

623
00:21:57,950 --> 00:21:59,818
I guess as an investor,

624
00:21:59,818 --> 00:22:02,555
I want to know what the plan
is, like Kevin said.

625
00:22:02,555 --> 00:22:03,289
It's going to air.

626
00:22:03,289 --> 00:22:06,225
Everybody in America
is going to say, "I want one!"

627
00:22:06,225 --> 00:22:07,993
Robert --
They're going to go
to your website,

628
00:22:07,993 --> 00:22:09,662
and you know
what you're going to say?

629
00:22:09,662 --> 00:22:11,063
"I can't ship it to you."

630
00:22:11,063 --> 00:22:13,132
Look, guys, if you came
up with an answer,

631
00:22:13,132 --> 00:22:15,000
not the perfect answer,
any answer,

632
00:22:15,000 --> 00:22:16,168
I would have loved
to get on board.

633
00:22:16,168 --> 00:22:19,705
I love animals, but you don't
have those answers today.

634
00:22:19,705 --> 00:22:20,773
I'm out.
Thank you, Robert.

635
00:22:20,773 --> 00:22:21,807
But I'll buy the dog.

636
00:22:21,807 --> 00:22:23,075
No, no,
he's not for sale. No.

637
00:22:23,075 --> 00:22:24,944
Never.
Good luck, you guys.

638
00:22:24,944 --> 00:22:26,846
Thank you so much.
Thanks for your time, guys.

639
00:22:26,846 --> 00:22:27,980
Really appreciate it.

640
00:22:27,980 --> 00:22:28,981
Good job.
Thank you so much.

641
00:22:28,981 --> 00:22:30,015
Alejandra: Achilles, ready?

642
00:22:30,015 --> 00:22:31,717
Come on, let's go,
let's go.

643
00:22:31,717 --> 00:22:33,552
Come on.

644
00:22:33,986 --> 00:22:36,822
Let's go.
Let's go, big guy.

645
00:22:36,822 --> 00:22:39,091
It's really exciting
to be able to come on to

646
00:22:39,091 --> 00:22:41,860
a stage like this
and hear such invaluable insight

647
00:22:41,860 --> 00:22:43,896
from the Sharks,
to be able to hear

648
00:22:43,896 --> 00:22:46,198
their direction for us,
to give their opinions,

649
00:22:46,198 --> 00:22:48,667
honestly, is worth more
than anything

650
00:22:48,667 --> 00:22:50,402
we could
put a price on.

651
00:22:52,071 --> 00:22:53,872
Hello, "Shark Tank" fans.

652
00:22:53,872 --> 00:22:54,974
We'd like to alert you.

653
00:22:54,974 --> 00:22:57,009
There are a lot
of deceptive ads out there

654
00:22:57,009 --> 00:22:58,978
claiming to be
"Shark Tank" products,

655
00:22:58,978 --> 00:23:00,846
and in many cases,
they are not.

656
00:23:00,846 --> 00:23:04,183
To be sure, go to abc.com

657
00:23:04,183 --> 00:23:07,953
to check out the full list
of "Shark Tank" businesses.

658
00:23:07,953 --> 00:23:09,755
If a business is not listed,

659
00:23:09,755 --> 00:23:11,857
it is not a "Shark Tank"
business.

660
00:23:11,857 --> 00:23:14,627
Please be aware
and stay safe out there.

661
00:23:21,600 --> 00:23:24,270
♪♪

662
00:23:24,270 --> 00:23:26,939
Narrator: Next in the Tank
is a kinder way

663
00:23:26,939 --> 00:23:29,675
to deal with a pesky problem.

664
00:23:29,675 --> 00:23:37,049
♪♪

665
00:23:37,049 --> 00:23:39,952
Hey, Sharks! I'm Justin
from Orange County, California,

666
00:23:39,952 --> 00:23:43,856
seeking $50,000
for 10% of my company.

667
00:23:43,856 --> 00:23:45,991
Imagine you're hosting
a dinner party,

668
00:23:45,991 --> 00:23:47,926
and right as you're about
to serve the food,

669
00:23:47,926 --> 00:23:49,295
an unexpected guest arrives.

670
00:23:49,295 --> 00:23:53,732
Go ahead, Sharks, lift your
plate covers and dig in.

671
00:23:53,732 --> 00:23:54,967
Oh.

672
00:23:54,967 --> 00:23:55,901
[ Gasps ]

673
00:23:55,901 --> 00:23:57,636
[ Laughter ]

674
00:23:57,636 --> 00:23:58,771
That's right. Bugs.

675
00:23:58,771 --> 00:23:59,772
Greiner:
Oh, my God.

676
00:23:59,772 --> 00:24:02,207
That scared the crap
out of me.

677
00:24:02,341 --> 00:24:05,444
Now, Mr. Wonderful might be all
about crushing cockroaches,

678
00:24:05,444 --> 00:24:09,148
but what about those of us
who'd rather not take a life?

679
00:24:09,148 --> 00:24:13,085
That's where Cup-a-Bug comes in.

680
00:24:13,085 --> 00:24:15,287
We've made it...

681
00:24:15,287 --> 00:24:19,191
uh, more convenient
to catch a bug than to kill it.

682
00:24:19,191 --> 00:24:23,729
There's -- there's --

683
00:24:23,729 --> 00:24:24,997
That's okay. Start over.

684
00:24:24,997 --> 00:24:26,265
Cuban: That's okay.
You made it more convenient

685
00:24:26,265 --> 00:24:27,299
to capture a bug than
to kill it.

686
00:24:27,299 --> 00:24:28,901
Than to kill it.
Huang: That's right.

687
00:24:28,901 --> 00:24:30,135
Using it is super simple.

688
00:24:30,135 --> 00:24:33,038
Just place the cup over the bug
and pull the handle back.

689
00:24:33,038 --> 00:24:34,239
This closes the lid,

690
00:24:34,239 --> 00:24:38,043
and now your bug is ready
to be released back into nature.

691
00:24:38,043 --> 00:24:39,078
Cuban:
Good for you.

692
00:24:39,078 --> 00:24:41,080
Or on your
neighbor's doorstep.

693
00:24:41,080 --> 00:24:42,614
It's up to you.

694
00:24:42,614 --> 00:24:43,248
[ Laughter ]

695
00:24:43,248 --> 00:24:45,184
Cup-a-Bug features,
a long arm,

696
00:24:45,184 --> 00:24:48,153
and a tilt mechanism
that works like your wrist,

697
00:24:48,153 --> 00:24:50,689
allowing you to catch bugs
from floor to ceiling.

698
00:24:50,689 --> 00:24:51,757
Oh, God!

699
00:24:51,757 --> 00:24:53,092
We even included a brush

700
00:24:53,092 --> 00:24:55,294
for getting bugs
from out of corners.

701
00:24:55,294 --> 00:24:59,631
Think of Cup-a-Bug
as an extension of your wrist.

702
00:24:59,965 --> 00:25:02,201
Um...

703
00:25:02,201 --> 00:25:03,936
You're good.
Greiner: It's okay.

704
00:25:03,936 --> 00:25:05,104
You know what? Take a breath.
Take a breath.

705
00:25:05,104 --> 00:25:07,406
I'm so nervous.
And then think of it again.

706
00:25:07,406 --> 00:25:10,409
Whether it's catching bugs
from off your ceiling

707
00:25:10,409 --> 00:25:14,012
or catching cockroaches
from your kitchen floor,

708
00:25:14,012 --> 00:25:16,382
Cup-a-Bug is the hero
we've all been waiting for.

709
00:25:16,382 --> 00:25:20,219
So, Sharks, who's ready to see
what all the buzz is about

710
00:25:20,219 --> 00:25:22,187
and infest in Cup-a-Bug?

711
00:25:22,187 --> 00:25:23,956
Good job, Justin.
Good job.

712
00:25:23,956 --> 00:25:25,991
Yeah!
Thank you, thank you.

713
00:25:25,991 --> 00:25:27,426
In my household,
I am the bug guy.

714
00:25:27,426 --> 00:25:29,161
My wife, my kids...
Yeah, women freak.

715
00:25:29,161 --> 00:25:31,163
...will not going
anywhere near a bug,

716
00:25:31,163 --> 00:25:33,198
so it's like, "Dad!"

717
00:25:33,198 --> 00:25:34,967
Exactly.
You know,
from the whole house.

718
00:25:34,967 --> 00:25:36,301
So, how much
does this cost?

719
00:25:36,301 --> 00:25:39,204
We retail it for $40,
including shipping.

720
00:25:39,204 --> 00:25:40,973
What does it cost you
to make?

721
00:25:40,973 --> 00:25:44,143
It cost us to make,
uh, $10 landed

722
00:25:44,143 --> 00:25:46,078
and then about $7 to make.

723
00:25:46,078 --> 00:25:47,079
Herjavec:
That's not bad.

724
00:25:47,079 --> 00:25:48,947
Justin, do you
have any sales?

725
00:25:48,947 --> 00:25:50,983
We do.
Yeah, we did a Kickstarter

726
00:25:50,983 --> 00:25:52,317
that did about 800 units.

727
00:25:52,317 --> 00:25:55,054
So that was $28,000 roughly.

728
00:25:55,054 --> 00:25:56,088
Not bad.
Yeah.

729
00:25:56,088 --> 00:25:57,990
And when was that?
What month?

730
00:25:57,990 --> 00:26:01,460
That was last year,
um, in, uh, March.

731
00:26:01,460 --> 00:26:04,963
And then this year, we started
selling our first

732
00:26:04,963 --> 00:26:06,398
production run
in beginning of June.

733
00:26:06,398 --> 00:26:09,068
So it's been a little bit
over three months,

734
00:26:09,068 --> 00:26:11,970
and we've done about
1,200 units in sales.

735
00:26:11,970 --> 00:26:13,038
What is
that in dollars?

736
00:26:13,038 --> 00:26:14,306
That's $48,000,
give or take.

737
00:26:14,306 --> 00:26:16,074
Yeah.
And that's all been organic.

738
00:26:16,074 --> 00:26:18,277
Justin, how did you --
are you a bug guy?

739
00:26:18,277 --> 00:26:20,179
Is this something
you came up with for fun?

740
00:26:20,179 --> 00:26:21,313
Or a bug hater?

741
00:26:21,313 --> 00:26:22,448
Yeah.
Tell us the story.

742
00:26:22,448 --> 00:26:25,284
I would be more on
the bug sympathizer side.

743
00:26:25,284 --> 00:26:28,554
Um, I studied
mechanical engineering,

744
00:26:28,554 --> 00:26:31,390
and then afterwards,
I went to work for my dad,

745
00:26:31,390 --> 00:26:33,525
and we designed
electric motors.

746
00:26:33,525 --> 00:26:36,395
I decided that I wanted
to follow in his footsteps

747
00:26:36,395 --> 00:26:38,397
and become
my own entrepreneur.

748
00:26:38,397 --> 00:26:42,134
So every night, I would just
keep studying engineering

749
00:26:42,134 --> 00:26:43,936
through free
online courseware.

750
00:26:43,936 --> 00:26:45,070
My hero, my hero.
I know you guys

751
00:26:45,070 --> 00:26:46,905
are lifelong
learners, too.

752
00:26:46,905 --> 00:26:48,140
I'm the same way.

753
00:26:48,140 --> 00:26:50,209
And eventually,
I was able to get the skills

754
00:26:50,209 --> 00:26:52,411
to design something
like Cup-a-Bug.

755
00:26:52,411 --> 00:26:56,048
I'm just terrified of bugs,
even from a child.

756
00:26:56,048 --> 00:26:57,516
I get it.
And as I grew up,

757
00:26:57,516 --> 00:27:00,419
I just started to feel bad,
you know, squishing them.

758
00:27:00,419 --> 00:27:03,055
I feel bad
when I squish a bug, too.

759
00:27:03,055 --> 00:27:04,923
That could be
an ancestor of mine,

760
00:27:04,923 --> 00:27:06,258
for all I know, coming.

761
00:27:06,258 --> 00:27:07,226
Probably is.

762
00:27:07,226 --> 00:27:08,427
I don't know
if I feel bad.

763
00:27:08,427 --> 00:27:10,162
What other things
do you design?

764
00:27:10,162 --> 00:27:12,197
Um, yeah, I've done a lot
of board game accessories.

765
00:27:12,197 --> 00:27:15,334
I did like planters,
certain desk organizers,

766
00:27:15,334 --> 00:27:18,103
basically anything that's
under like the nerd umbrella.

767
00:27:18,103 --> 00:27:20,038
You're a serial inventor.
I like this guy.

768
00:27:20,038 --> 00:27:21,473
Justin, is this one of them?
What is this?

769
00:27:21,473 --> 00:27:23,442
No, that's just something
I specifically designed

770
00:27:23,442 --> 00:27:25,177
for you guys today.
You designed this?

771
00:27:25,177 --> 00:27:26,378
Herjavec:
You designed this?

772
00:27:26,378 --> 00:27:28,013
Yeah.
Greiner: It's a bug-a-pult?

773
00:27:28,013 --> 00:27:30,148
That is so cool.
It's a bug-a-pult!

774
00:27:30,148 --> 00:27:31,316
It's a catapult for bugs?

775
00:27:31,316 --> 00:27:33,318
Huang: Yeah, exactly. Yeah.

776
00:27:33,318 --> 00:27:34,486
You guys are welcome to have
it if you want.

777
00:27:34,486 --> 00:27:37,122
Wait, it doesn't come --
You're not going to sell these?

778
00:27:37,122 --> 00:27:38,223
I mean, we could expand
the product line.

779
00:27:38,223 --> 00:27:40,325
You could definitely.

780
00:27:40,325 --> 00:27:41,360
Out of
all your products,

781
00:27:41,360 --> 00:27:43,162
are you most excited
about this?

782
00:27:43,162 --> 00:27:46,098
Yeah, this is really not just
a product for me,

783
00:27:46,098 --> 00:27:48,200
but it's a showcase
of all the skills

784
00:27:48,200 --> 00:27:51,170
I've put into my studies
in engineering.

785
00:27:51,170 --> 00:27:53,338
I love it.
You know what?

786
00:27:53,338 --> 00:27:56,408
So this includes you.
It's 10% of you, right?

787
00:27:56,408 --> 00:27:59,311
It's 10% of not just Cup-a-Bug,

788
00:27:59,311 --> 00:28:02,347
but like the future of
my entrepreneurial experience.

789
00:28:02,347 --> 00:28:04,149
So I'll give you.
50K for 20%.

790
00:28:04,149 --> 00:28:05,884
Ooh.

791
00:28:05,884 --> 00:28:06,518
Wow.
Yes?

792
00:28:06,518 --> 00:28:09,121
Greiner: Do it.
I'll do the same.

793
00:28:09,121 --> 00:28:12,324
No, he's not gonna do it.
Just me.

794
00:28:12,324 --> 00:28:14,126
Why don't why
don't we get one --

795
00:28:14,126 --> 00:28:16,461
I'll give him a little bit more.
60K for 30%.

796
00:28:16,461 --> 00:28:19,164
Are you guys in together?
Greiner:
Oh, you're going in together?

797
00:28:19,164 --> 00:28:20,399
No. No!
Yeah!

798
00:28:20,399 --> 00:28:21,967
I want you to myself.

799
00:28:21,967 --> 00:28:23,135
[ Chuckles ] Greedy.

800
00:28:23,135 --> 00:28:24,436
Would either
of you be willing,

801
00:28:24,436 --> 00:28:27,005
since we're
going up in equity,

802
00:28:27,005 --> 00:28:28,173
would you be
willing to go up?

803
00:28:28,173 --> 00:28:30,275
I'll go up to 75K.
How's that?

804
00:28:30,275 --> 00:28:31,376
For 20%?

805
00:28:31,376 --> 00:28:33,312
Geek to geek?
Geek to geek?

806
00:28:33,312 --> 00:28:38,116
All right, Mark, join me
in my entrepreneurial journey.

807
00:28:38,116 --> 00:28:40,319
Let's go!
Thank you so much.

808
00:28:40,319 --> 00:28:41,486
That's great, man.
Let's go.

809
00:28:41,486 --> 00:28:43,522
John: That's great.
Greiner: Congratulations.

810
00:28:43,522 --> 00:28:45,224
I love it, man.
It's awesome.

811
00:28:45,224 --> 00:28:46,525
We'll have so much fun.
I appreciate it.

812
00:28:46,525 --> 00:28:48,527
Well, I'll be throwing projects
after you left and right.

813
00:28:48,527 --> 00:28:51,296
Anytime you have an idea,
you can run it by me.

814
00:28:51,296 --> 00:28:54,166
Code, hardware.
Fun stuff.

815
00:28:54,166 --> 00:28:56,001
I love that.
Thank you so much. Yeah.

816
00:28:56,001 --> 00:28:57,169
I appreciate it.
Thank you.

817
00:28:57,169 --> 00:28:58,370
Herjavec: Great job.
Justin, fantastic.

818
00:28:58,370 --> 00:28:59,538
That you guys so much.
Yeah.

819
00:28:59,538 --> 00:29:02,274
You got paid 75,000 to get
a filthy rich billionaire back

820
00:29:02,274 --> 00:29:04,309
every idea you have
that he agrees upon

821
00:29:04,309 --> 00:29:05,944
for the rest
of your life.

822
00:29:05,944 --> 00:29:06,478
I know, it's amazing.

823
00:29:06,478 --> 00:29:09,014
He's gonna be working
for you later on.

824
00:29:09,014 --> 00:29:10,248
I hope so. I hope so.

825
00:29:10,248 --> 00:29:13,018
You know what? That is
the power of the cockroach.

826
00:29:13,018 --> 00:29:13,518
[ Laughter ]

827
00:29:13,518 --> 00:29:15,153
That's the power
of "Shark Tank."

828
00:29:15,153 --> 00:29:16,355
All right, man,
congratulations.

829
00:29:16,355 --> 00:29:18,090
Congratulations.
Congratulations.

830
00:29:18,090 --> 00:29:19,258
Talk soon.

831
00:29:19,258 --> 00:29:21,360
Oh my goodness.

832
00:29:21,360 --> 00:29:22,594
I can't believe it.

833
00:29:22,594 --> 00:29:26,465
Mark Cuban with me in my entire
entrepreneurial journey

834
00:29:26,465 --> 00:29:30,502
is honestly amazing,
and I'm so happy right now.

835
00:29:30,502 --> 00:29:33,238
Did not expect
that to happen.

836
00:29:33,238 --> 00:29:36,341
Entrepreneurship is
honestly a tough road,

837
00:29:36,341 --> 00:29:39,544
especially when there's not
a whole lot of guidance.

838
00:29:39,544 --> 00:29:43,582
And I thank you guys
on "Shark Tank"

839
00:29:43,582 --> 00:29:48,086
for helping me get
a connection like this.

840
00:29:48,086 --> 00:29:50,989
This is life changing, honestly.

841
00:29:52,324 --> 00:29:53,392
Oh, my God.
He's great, man.

842
00:29:53,392 --> 00:29:55,427
hen he said that
he designed this just for us.

843
00:29:55,427 --> 00:29:56,561
Yeah, I know.
I think you like

844
00:29:56,561 --> 00:29:57,663
the catapult
more than the bug thing.

845
00:29:57,663 --> 00:30:00,899
Yes. No, this this
is utilitarian, right?

846
00:30:03,268 --> 00:30:06,271
Sharks, I love to
create and invent.

847
00:30:06,271 --> 00:30:09,641
When I was 7 years old,
I invented the Baby Toon.

848
00:30:09,641 --> 00:30:13,412
The Baby Toon is a combination
of a baby spoon

849
00:30:13,412 --> 00:30:15,714
and a teether all in one.

850
00:30:15,714 --> 00:30:19,718
When Cassidy from Baby Toon
came out, she blew me away.

851
00:30:19,718 --> 00:30:22,487
I want to show other kids
that they can be open

852
00:30:22,487 --> 00:30:24,489
to opportunities
they have at school,

853
00:30:24,489 --> 00:30:26,391
or even at home
to create and invent.

854
00:30:26,391 --> 00:30:29,094
I just really hope
I inspire them.

855
00:30:29,094 --> 00:30:30,462
It's a dream come true.

856
00:30:30,462 --> 00:30:32,564
She did the whole pitch
herself, and I thought,

857
00:30:32,564 --> 00:30:35,467
"I have got to just go
scoop up this girl

858
00:30:35,467 --> 00:30:38,403
and give her a deal
and become her mentor."

859
00:30:38,403 --> 00:30:39,538
You have a deal.

860
00:30:39,538 --> 00:30:41,139
Cuban:
Congratulations.

861
00:30:41,139 --> 00:30:42,374
[ Applause ]

862
00:30:42,374 --> 00:30:44,376
Greiner: Oh, my gosh,
you are just amazing.

863
00:30:44,376 --> 00:30:46,878
Thank you.
Amazing.

864
00:30:51,183 --> 00:30:53,585
♪♪

865
00:30:53,585 --> 00:30:56,288
Narrator: Next up are
entrepreneurs who believe

866
00:30:56,288 --> 00:30:59,224
their product
is cooler than the rest.

867
00:30:59,224 --> 00:31:08,467
♪♪

868
00:31:08,467 --> 00:31:09,568
Together: What's up Sharks?

869
00:31:09,568 --> 00:31:11,570
I'm Dave.
And I'm Joe.

870
00:31:11,570 --> 00:31:15,474
And we're the twins
that founded Coldest!

871
00:31:15,474 --> 00:31:19,277
We started this company
in Naples, Florida!

872
00:31:19,277 --> 00:31:22,380
And, Sharks,
it gets so hot out there.

873
00:31:22,380 --> 00:31:25,217
And so we wanted to create
the coldest things.

874
00:31:25,217 --> 00:31:28,086
To help you
stay colder longer.

875
00:31:28,086 --> 00:31:29,488
How cold, Dave?

876
00:31:29,488 --> 00:31:33,058
This much colder!

877
00:31:33,058 --> 00:31:34,359
[ Laughter ]

878
00:31:34,359 --> 00:31:36,661
Greiner: Oh, my God!

879
00:31:36,661 --> 00:31:39,197
We embarked on a journey
to create

880
00:31:39,197 --> 00:31:41,466
the coldest products ever.

881
00:31:41,466 --> 00:31:43,435
This is our water bottle.

882
00:31:43,435 --> 00:31:45,437
We tested this
bottle against

883
00:31:45,437 --> 00:31:49,374
50 plus of the largest
hydration brands out there,

884
00:31:49,374 --> 00:31:51,243
and designed it
to stay cold

885
00:31:51,243 --> 00:31:53,645
for up to
36 plus hours long.

886
00:31:53,645 --> 00:31:56,548
With thoughtful design
features such as this

887
00:31:56,548 --> 00:31:58,416
non-slip rubber bottom.

888
00:31:58,416 --> 00:32:00,685
It's 100% leak proof.

889
00:32:00,685 --> 00:32:03,455
And we're not just
a hydration company.

890
00:32:03,455 --> 00:32:06,758
We wanted to create
the coldest everything store,

891
00:32:06,758 --> 00:32:10,428
so we designed and developed
the coldest pillow.

892
00:32:10,428 --> 00:32:12,330
Because I was sick
and tired

893
00:32:12,330 --> 00:32:13,632
of sleeping
sweaty at night.

894
00:32:13,632 --> 00:32:16,535
We also designed and developed
the coolest dog bed

895
00:32:16,535 --> 00:32:18,670
and the coldest
dog bowl because

896
00:32:18,670 --> 00:32:20,739
dogs like
to sleep cold, too.

897
00:32:20,739 --> 00:32:25,143
We're seeking $600,000
for 2% equity in our business.

898
00:32:25,143 --> 00:32:26,478
Hello!
Whoa!

899
00:32:26,478 --> 00:32:27,579
That's cold.
What do you say, Sharks?

900
00:32:27,579 --> 00:32:30,482
Ice cold.
Who wants to get burred

901
00:32:30,482 --> 00:32:34,419
in an avalanche of cash
and join us on...

902
00:32:34,419 --> 00:32:36,521
Together:
Expanding the universe

903
00:32:36,521 --> 00:32:39,357
of Coldest!

904
00:32:39,357 --> 00:32:41,326
Greiner: Whoo!

905
00:32:41,326 --> 00:32:43,562
[ Laughter ]

906
00:32:43,562 --> 00:32:45,397
Oh, my gosh. Okay.
Wow. What do we got here?

907
00:32:45,397 --> 00:32:46,531
Yes, what do we have?

908
00:32:46,531 --> 00:32:48,433
Dave: So that's
a limitless series.

909
00:32:48,433 --> 00:32:51,503
It comes with three lids
that are fully insulated

910
00:32:51,503 --> 00:32:53,538
and it stays cold
36 plus hours.

911
00:32:53,538 --> 00:32:54,606
Cuban:
Tell us about you guys.

912
00:32:54,606 --> 00:32:56,374
It sounds like
an interesting story.

913
00:32:56,374 --> 00:32:57,909
So my parents
are both immigrants.

914
00:32:57,909 --> 00:33:00,712
My dad's from Jordan, and my
mom's from the Philippines.

915
00:33:00,712 --> 00:33:03,915
They're both engineers,
and so all our entire lives,

916
00:33:03,915 --> 00:33:07,385
like we thought engineering
was the only route to go into.

917
00:33:07,385 --> 00:33:08,854
They tricked you, huh?
They tricked us.

918
00:33:08,854 --> 00:33:11,690
And every day,
I'd listen to business podcasts.

919
00:33:11,690 --> 00:33:14,359
Because me and Joe, we've always
been obsessed with business

920
00:33:14,359 --> 00:33:15,393
our entire life.

921
00:33:15,393 --> 00:33:16,494
I had these side hustles.

922
00:33:16,494 --> 00:33:18,663
They were software businesses,
building websites

923
00:33:18,663 --> 00:33:21,566
for other clients,
so we knew how to build brands.

924
00:33:21,566 --> 00:33:24,603
But all of our side hustles,
they kept on failing.

925
00:33:24,603 --> 00:33:25,837
But every single one of them,

926
00:33:25,837 --> 00:33:27,706
we've learned like a really
cool lesson along the way.

927
00:33:27,706 --> 00:33:32,644
And then 2015 came,
and that's when Coldest begun.

928
00:33:32,644 --> 00:33:34,880
And so I had $14,000 saved up.

929
00:33:34,880 --> 00:33:37,983
It was all my money,
and I put it into the Coldest.

930
00:33:37,983 --> 00:33:40,552
The Coldest Water was
what it was initially called.

931
00:33:40,552 --> 00:33:41,653
I finally chose a factory.

932
00:33:41,653 --> 00:33:44,389
I sent them the money,
all $14,000.

933
00:33:44,389 --> 00:33:45,857
It was for 1,000 water bottles.

934
00:33:45,857 --> 00:33:48,860
And my older brother looks at
me, and he's like,

935
00:33:48,860 --> 00:33:51,296
"Do you really think you're
going to sell

936
00:33:51,296 --> 00:33:52,831
1,000 water bottles?

937
00:33:52,831 --> 00:33:55,767
You know how competitive
that market is?"

938
00:33:55,767 --> 00:33:57,602
And I looked at him.
"You're right."

939
00:33:57,602 --> 00:33:59,304
And so I messaged
to the factory, I'm like,

940
00:33:59,304 --> 00:34:01,439
"We need to cancel that order."

941
00:34:01,439 --> 00:34:02,607
[ Laughter ]
And she responds back

942
00:34:02,607 --> 00:34:03,708
in like a few minutes.

943
00:34:03,708 --> 00:34:06,478
"We can't cancel the order.
It's too late.

944
00:34:06,478 --> 00:34:08,446
Your order's are already
on the factory line."

945
00:34:08,446 --> 00:34:09,714
And then two years later,

946
00:34:09,714 --> 00:34:12,951
we're doing about
900K in revenue.

947
00:34:12,951 --> 00:34:14,886
Okay, so what happened
with the thousand dollars?

948
00:34:14,886 --> 00:34:16,755
Yeah, you just casually
threw that out there.

949
00:34:16,755 --> 00:34:18,556
We'll get into
the numbers shortly.

950
00:34:18,556 --> 00:34:19,591
Yeah, but --

951
00:34:19,591 --> 00:34:20,625
But what happened
to that order?

952
00:34:20,625 --> 00:34:21,660
That one order.
The first order.

953
00:34:21,660 --> 00:34:22,627
1,000 bottles.

954
00:34:22,627 --> 00:34:23,728
They sold out.
They sold out.

955
00:34:23,728 --> 00:34:25,463
Yeah, we sold out.
John: In how long?

956
00:34:25,463 --> 00:34:26,531
You're horrible pitchers.

957
00:34:26,531 --> 00:34:29,467
In what period of time
did that sell out?

958
00:34:29,467 --> 00:34:31,403
I would say it was
probably within

959
00:34:31,403 --> 00:34:32,370
the first five months.

960
00:34:32,370 --> 00:34:33,939
We initially
started on Amazon.

961
00:34:33,939 --> 00:34:37,342
We were pure Amazon Play,
digital e-commerce,

962
00:34:37,342 --> 00:34:37,943
D-to-C company.

963
00:34:37,943 --> 00:34:41,580
In 2017, I said,
"Let's start up an alliance."

964
00:34:41,580 --> 00:34:43,882
You create the best,
coldest product,

965
00:34:43,882 --> 00:34:46,751
and I'll work just focusing
on the marketing.

966
00:34:46,751 --> 00:34:48,954
And within a year,
it was about 2018 now,

967
00:34:48,954 --> 00:34:52,590
we had hit $1 to $3 million
in sales.

968
00:34:52,590 --> 00:34:53,658
What?

969
00:34:53,658 --> 00:34:54,826
We're getting
the numbers here,

970
00:34:54,826 --> 00:34:56,561
because this is the part --
you asked for $600,000.

971
00:34:56,561 --> 00:34:57,762
That's not chump change.

972
00:34:57,762 --> 00:34:59,731
Give us year by year
revenue, okay?

973
00:34:59,731 --> 00:35:03,435
2017, we did 900K.
Okay.

974
00:35:03,435 --> 00:35:06,304
And then 2018,
we did 2.5 mil.

975
00:35:06,304 --> 00:35:07,439
John: Whoa.

976
00:35:07,439 --> 00:35:08,506
2019's 5.9.

977
00:35:08,506 --> 00:35:10,608
So 2020,
we hit $9.3 million.

978
00:35:10,608 --> 00:35:11,943
Whoa!
What?!

979
00:35:11,943 --> 00:35:13,578
Whoa. Nice.
Dave: It started
to scale nicely.

980
00:35:13,578 --> 00:35:14,612
And then?

981
00:35:14,612 --> 00:35:17,482
2021, it was $12.4 million.

982
00:35:17,482 --> 00:35:18,516
Whoa.
It just kept on growing.

983
00:35:18,516 --> 00:35:19,584
And last year?

984
00:35:19,584 --> 00:35:21,553
Last year
we hit $15.1 million.

985
00:35:21,553 --> 00:35:22,487
Ooh!

986
00:35:22,487 --> 00:35:23,955
I've got to ask,
why are you here?

987
00:35:23,955 --> 00:35:25,590
What were your
profits last year?

988
00:35:25,590 --> 00:35:26,691
Are you making
any money on it?

989
00:35:26,691 --> 00:35:30,428
Hold on.
So last year was
negative-400K.

990
00:35:32,430 --> 00:35:34,899
You lost 400,000?!
Why?

991
00:35:34,899 --> 00:35:37,669
Our inventory,
it just keeps flying out.

992
00:35:37,669 --> 00:35:38,737
of the warehouse.

993
00:35:38,737 --> 00:35:40,438
Like it sells really fast.

994
00:35:40,438 --> 00:35:41,606
And we keep
buying a lot, too.

995
00:35:41,606 --> 00:35:42,674
Joe: We keep
buying a lot more.

996
00:35:42,674 --> 00:35:44,476
We're adding more colors.
More SKUs.

997
00:35:44,476 --> 00:35:45,710
Yeah.
Uh, obviously,

998
00:35:45,710 --> 00:35:47,646
as you can see, we're adding
more categories, as well.

999
00:35:47,646 --> 00:35:50,382
All of our money since day
one has been going

1000
00:35:50,382 --> 00:35:50,915
back into the brand.

1001
00:35:50,915 --> 00:35:53,518
What is your inventory
worth right now?

1002
00:35:53,518 --> 00:35:55,820
Yeah, it's around
$2.5 million.

1003
00:35:55,820 --> 00:35:57,622
How many
SKUs is that?

1004
00:35:57,622 --> 00:35:59,858
There's over
350 SKUs in --

1005
00:35:59,858 --> 00:36:02,560
How many of those SKUs
are over a year old

1006
00:36:02,560 --> 00:36:03,862
and just probably
not going to sell?

1007
00:36:03,862 --> 00:36:06,064
I know this sounds weird,
but all of our stuff moves.

1008
00:36:06,064 --> 00:36:08,600
It just a matter of when we want
to discount it

1009
00:36:08,600 --> 00:36:09,801
and break even
at that product.

1010
00:36:09,801 --> 00:36:15,640
And that is 2.5 retail
or 2.5 meaning your cost?

1011
00:36:15,640 --> 00:36:16,908
Cost.
Cuban: Cost.

1012
00:36:16,908 --> 00:36:18,877
That's cost. So what is
the average margin on here?

1013
00:36:18,877 --> 00:36:20,912
How much does a bottle
cost to to make,

1014
00:36:20,912 --> 00:36:22,047
and how much
do you sell it for?

1015
00:36:22,047 --> 00:36:26,551
So that specific product
retails for $55.99.

1016
00:36:26,551 --> 00:36:27,852
Okay.
And we get it for

1017
00:36:27,852 --> 00:36:29,888
around $10 to $12 landed.

1018
00:36:29,888 --> 00:36:32,657
What do you think you're on
track to do this year?

1019
00:36:32,657 --> 00:36:34,959
We're on track
to do $22 million up to --

1020
00:36:34,959 --> 00:36:36,661
That's on the lowest end.
Joe: On the low end.

1021
00:36:36,661 --> 00:36:38,663
You lost money last year?
Yeah.

1022
00:36:38,663 --> 00:36:40,665
Why is it worth
$30 million?

1023
00:36:40,665 --> 00:36:42,000
It's worth that because
our growth

1024
00:36:42,000 --> 00:36:44,035
has just been
scaling tremendously.

1025
00:36:44,035 --> 00:36:46,971
But the problem is,
is you're not making money.

1026
00:36:46,971 --> 00:36:50,775
The way that I see this,
honestly, you had clever idea,

1027
00:36:50,775 --> 00:36:53,712
but it's almost like you fall
in love with the sales

1028
00:36:53,712 --> 00:36:55,880
that you get caught
in that cycle of,

1029
00:36:55,880 --> 00:36:57,682
and let's get more
and let's do more

1030
00:36:57,682 --> 00:36:58,817
and let's bring in more.

1031
00:36:58,817 --> 00:37:01,920
And the problem is,
you're so heavily inventoried

1032
00:37:01,920 --> 00:37:03,822
that you said yourself

1033
00:37:03,822 --> 00:37:06,758
you're going to sell it off
to break even.

1034
00:37:06,758 --> 00:37:08,660
So --
A business should run

1035
00:37:08,660 --> 00:37:09,861
where you're
lean and mean.

1036
00:37:09,861 --> 00:37:14,065
For me, it's not a model I like,
so I'm sorry, I'm out.

1037
00:37:14,065 --> 00:37:15,834
Alright.
Thank you for
your feedback, Lori

1038
00:37:15,834 --> 00:37:16,968
So --
Cuban: What percentage

1039
00:37:16,968 --> 00:37:20,405
of your sales
do you spend on advertising?

1040
00:37:20,405 --> 00:37:21,106
A lot.

1041
00:37:21,106 --> 00:37:25,744
So last year, we did almost
$3.3 million in advertising.

1042
00:37:25,744 --> 00:37:26,878
Wow.

1043
00:37:26,878 --> 00:37:28,947
So, guys, you guys are
a marketing company, right?

1044
00:37:28,947 --> 00:37:30,548
Correct.
But in order to be

1045
00:37:30,548 --> 00:37:31,716
a great marketing company,

1046
00:37:31,716 --> 00:37:33,084
there's got
to be science behind it.

1047
00:37:33,084 --> 00:37:34,786
There's got to be
more than just,

1048
00:37:34,786 --> 00:37:36,955
let me just try some
ads on Amazon,

1049
00:37:36,955 --> 00:37:39,824
because while I get that
you're trying to scale, right,

1050
00:37:39,824 --> 00:37:42,827
if you really want to scale
to be a household name,

1051
00:37:42,827 --> 00:37:47,732
you've got to be the best
at analytics for advertising.

1052
00:37:47,732 --> 00:37:50,735
I don't see that from you guys.
So I'm out.

1053
00:37:50,735 --> 00:37:51,803
Okay.

1054
00:37:51,803 --> 00:37:53,638
Herjavec: Look, you've
got the growth.

1055
00:37:53,638 --> 00:37:54,939
You started a business
from zero.

1056
00:37:54,939 --> 00:37:58,042
You're going to do $20 million.
I mean, that's incredible.

1057
00:37:58,042 --> 00:38:00,178
But I still don't understand
why you're losing money.

1058
00:38:00,178 --> 00:38:04,649
So it was definitely cold.
It wasn't very hot. I'm out.

1059
00:38:06,017 --> 00:38:07,018
Why do you believe that,

1060
00:38:07,018 --> 00:38:09,187
you know,
the inventory is a plus?

1061
00:38:09,187 --> 00:38:11,122
I mean, because
one of the biggest things

1062
00:38:11,122 --> 00:38:13,892
that slowed FUBU down
was when we were doing,

1063
00:38:13,892 --> 00:38:16,761
you know, $400 million a year,

1064
00:38:16,761 --> 00:38:18,263
well, with broken boxes,
broken sizes,

1065
00:38:18,263 --> 00:38:21,800
styles that people don't like,
it starts to add up, right?

1066
00:38:21,800 --> 00:38:23,101
And that is your profit.

1067
00:38:23,101 --> 00:38:25,904
You're headed down a road that
I do not want to join you on.

1068
00:38:25,904 --> 00:38:27,839
I think is
a very dangerous road.

1069
00:38:27,839 --> 00:38:30,341
Be careful. I'm out.

1070
00:38:30,808 --> 00:38:33,077
So we're willing to go up
to 10% equity.

1071
00:38:33,077 --> 00:38:35,647
O'Leary: I thought your
presentation absolutely sucked

1072
00:38:35,647 --> 00:38:36,748
until I heard the sales.

1073
00:38:36,748 --> 00:38:38,750
[ Laughter ]
Herjavec: Yeah.

1074
00:38:38,750 --> 00:38:39,884
Because to me it was,

1075
00:38:39,884 --> 00:38:41,853
oh, another water bottle
guy, please.

1076
00:38:41,853 --> 00:38:43,888
I've seen so many
water bottle guys.

1077
00:38:43,888 --> 00:38:46,090
The challenge is return
of capital on your deal

1078
00:38:46,090 --> 00:38:48,259
because you're not worth
30 million bucks.

1079
00:38:48,259 --> 00:38:50,562
I definitely have to have
a royalty on this

1080
00:38:50,562 --> 00:38:51,329
to get my capital back.

1081
00:38:51,329 --> 00:38:54,832
And you can get a little better
at how you're spending.

1082
00:38:54,832 --> 00:38:58,036
Here's the deal.
I want 7% equity.

1083
00:38:58,036 --> 00:39:02,040
I'll give you the $600,000.
I want $2.25 an order

1084
00:39:02,040 --> 00:39:05,043
until I make back
$3 million on the $600,000.

1085
00:39:05,043 --> 00:39:08,713
Then the royalty goes away,
and I ride the pony on the 7%.

1086
00:39:09,914 --> 00:39:12,784
We're not super interested
in a royalty deal,

1087
00:39:12,784 --> 00:39:14,152
but what we would
be interested.

1088
00:39:14,152 --> 00:39:15,320
Well, you should
get super interested

1089
00:39:15,320 --> 00:39:17,822
because it's the only offer
you have right now.

1090
00:39:28,900 --> 00:39:30,301
Narrator: Four Sharks are out.

1091
00:39:30,301 --> 00:39:33,771
Dave and Joe have one offer
on the table from Kevin

1092
00:39:33,771 --> 00:39:36,808
for their brand
of cold products, Coldest.

1093
00:39:36,808 --> 00:39:39,177
O'Leary: Here's the deal.
I want 7% equity.

1094
00:39:39,177 --> 00:39:43,181
I give you the $600,000.
I want $2.25 an order

1095
00:39:43,181 --> 00:39:46,217
until I make back
$3 million on the $600,000.

1096
00:39:46,217 --> 00:39:49,954
Then the royalty goes away,
and I ride the pony on the 7%.

1097
00:39:49,954 --> 00:39:52,824
We're not super interested
in a royalty deal,

1098
00:39:52,824 --> 00:39:53,992
but what we would
be interested --

1099
00:39:53,992 --> 00:39:55,159
Well, you should get
super interested

1100
00:39:55,159 --> 00:39:57,161
because it's the only offer
you have right now.

1101
00:39:57,161 --> 00:39:59,731
[ Laughs ]
Yeah, so, what if we

1102
00:39:59,731 --> 00:40:00,932
offer this counter.

1103
00:40:00,932 --> 00:40:04,035
If we pay you back
1.5-X of what you're offering,

1104
00:40:04,035 --> 00:40:09,007
say 600K, we'll give you
900K in three to five years.

1105
00:40:09,007 --> 00:40:10,842
Oh, that's
so uninteresting.

1106
00:40:10,842 --> 00:40:12,210
It's a guaranteed
payback.

1107
00:40:12,210 --> 00:40:13,945
Oh, I fell asleep
on that one.

1108
00:40:13,945 --> 00:40:15,146
[ Laughter ]
You're gonna make 50%

1109
00:40:15,146 --> 00:40:16,914
more than what
you're investing today.

1110
00:40:16,914 --> 00:40:18,049
Where else can you do that?
Listen, guys.

1111
00:40:18,049 --> 00:40:19,217
I put up $600,000.

1112
00:40:19,217 --> 00:40:21,920
I can't buy a watch with what
you're offering me, okay?

1113
00:40:21,920 --> 00:40:22,920
That's no good.

1114
00:40:22,920 --> 00:40:24,055
I'd rather just
take the $600,000

1115
00:40:24,055 --> 00:40:25,990
and buy a watch right now.

1116
00:40:25,990 --> 00:40:27,292
Like, you have to think in terms
of how many watches

1117
00:40:27,292 --> 00:40:29,928
can I get out of your deal?
That's what I'm thinking about.

1118
00:40:29,928 --> 00:40:32,063
What's wrong with my offer?
It's so reasonable.

1119
00:40:32,063 --> 00:40:34,065
So the 7% for $600,000,

1120
00:40:34,065 --> 00:40:36,067
you know, it's definitely
on the very low end.

1121
00:40:36,067 --> 00:40:39,170
But think of the opportunity
here for your brand.

1122
00:40:39,170 --> 00:40:42,874
He has the coldest heart
of any human being.

1123
00:40:42,874 --> 00:40:44,742
I have total respect
for what you've done

1124
00:40:44,742 --> 00:40:45,843
in growing revenue.

1125
00:40:45,843 --> 00:40:47,278
That's impressive.
There's a lot of

1126
00:40:47,278 --> 00:40:50,948
fine tuning you can do
to make that more profitable.

1127
00:40:50,948 --> 00:40:53,051
I'm not sure you're doing
the best job in terms

1128
00:40:53,051 --> 00:40:54,185
of digital spend
right now.

1129
00:40:54,185 --> 00:40:56,120
The only guy you have left
is Mr. Wonderful.

1130
00:40:56,120 --> 00:40:58,323
Last offer, 5% equity.

1131
00:40:58,323 --> 00:41:01,192
$2.25 in order
till I get back $3 million.

1132
00:41:01,192 --> 00:41:03,027
And then I ride
the equity with you.

1133
00:41:03,027 --> 00:41:05,697
What do you want to do?

1134
00:41:07,899 --> 00:41:09,334
We'd like to counter.
Yeah.

1135
00:41:09,334 --> 00:41:14,072
Uh, for $1.5 million,
for 5% equity, and at,

1136
00:41:14,072 --> 00:41:16,841
like, the three year mark,
if you wanted to get out,

1137
00:41:16,841 --> 00:41:18,910
you could give us
the equity back,

1138
00:41:18,910 --> 00:41:22,213
and we would pay you out
at one and a half times.

1139
00:41:22,213 --> 00:41:23,381
Greiner:
They're getting colder.

1140
00:41:23,381 --> 00:41:25,883
I'm falling asleep again.
That's not the offer I made.

1141
00:41:25,883 --> 00:41:26,984
Cuban: So, Kevin --

1142
00:41:26,984 --> 00:41:28,086
Dave: We don't like
the royalty deal.

1143
00:41:28,086 --> 00:41:29,120
Yeah, we don't
like the royalty.

1144
00:41:29,120 --> 00:41:30,288
Yeah, they need all the cash
they can get.

1145
00:41:30,288 --> 00:41:31,522
We got to figure out
what makes sense for the brand.

1146
00:41:31,522 --> 00:41:35,126
What makes sense for the brand
is me giving you $600,000

1147
00:41:35,126 --> 00:41:36,828
under the terms
I just dictated.

1148
00:41:37,695 --> 00:41:39,897
Um...

1149
00:41:39,897 --> 00:41:40,898
I think...

1150
00:41:40,898 --> 00:41:42,767
[ Whispering indistinctly ]

1151
00:41:46,104 --> 00:41:49,874
Okay, so our answer
to that is no.

1152
00:41:51,309 --> 00:41:53,911
Tomorrow morning
when you wake up,

1153
00:41:53,911 --> 00:41:54,946
you're going to be cold.

1154
00:41:54,946 --> 00:41:56,147
Hey, guys,
one of my favorite sayings is

1155
00:41:56,147 --> 00:41:58,082
"It doesn't matter
how many times you fail,

1156
00:41:58,082 --> 00:42:00,318
you only have to be
right one time,

1157
00:42:00,318 --> 00:42:02,153
then everybody
can call you lucky."

1158
00:42:02,153 --> 00:42:04,255
You both talked about
how many times you failed

1159
00:42:04,255 --> 00:42:06,858
and you finally got
your one time.

1160
00:42:06,858 --> 00:42:07,458
Don't screw it up.

1161
00:42:07,458 --> 00:42:09,227
Appreciate it, Mark.
Herjavec: Make the most of it.

1162
00:42:09,227 --> 00:42:10,194
Greiner:
Good luck, you guys.

1163
00:42:10,194 --> 00:42:12,163
Thank you so much.
Cheers.

1164
00:42:12,163 --> 00:42:15,066
Dave: I think the Sharks
are going to regret 100%

1165
00:42:15,066 --> 00:42:16,300
that they didn't
make an offer.

1166
00:42:16,300 --> 00:42:18,102
Mr. Wonderful is
going to regret that

1167
00:42:18,102 --> 00:42:20,004
he was too greedy,
you know?

1168
00:42:20,004 --> 00:42:22,974
And, uh, we'll just
have to prove them wrong.

1169
00:42:28,246 --> 00:42:31,682
-- Captions by VITAC --

1170
00:42:31,682 --> 00:42:39,991
♪♪

1171
00:42:39,991 --> 00:42:48,766
♪♪

1172
00:42:48,766 --> 00:42:56,974
♪♪