Narrator: Tonight, Michael Strahan
from "Good Morning America" and the NFL returns to the Tank.
You know what makes people have a better time?
Making money.
Sharks, say hello to PeeSport.
[ Laughter ]
Both: Who's ready to swing a deal with Flightpath?
Are you making any money? We sold $3.4 million.
Wowza. You're a hustler.
You got to run fast.
Help us make better decisions.
Help us grow this.
That's what I offered you.
Corcoran: You know, the worst part of the story
is you told it as a victim.
Totally screwed it up. That was horrific.
Now I'm kind of mad.
How do you feel about that? I don't love it.
Narrator: First in the tank is a convenient way
to answer nature's call while on the go.
♪♪
What's up, Sharks?
My name is Henry and it's a beautiful day for a road trip.
The top's down, the sun's out,
the road's wide open in front of me.
And there's nothing for miles.
Then out of nowhere, nature calls.
And I really gotta go pee.
There's not a rest stop around.
There's not a tree to hide behind.
Nothing for miles.
Well, Sharks, going on the go just got easier.
Say hello to PeeSport,
the world's first performance pee bottle
that lets you go anywhere.
PeeSport has a discreet,
ergonomic and eco-friendly design.
Its leak proof, stink proof, odor free and judgment free.
And it doesn't discriminate.
For men, for women,
whatever you're working with down there,
PeeSport's universal design is super easy to use.
All you got to do is open up the lid,
expand it like this,
then let it go and let it flow.
It's perfect for truckers,
festival goers, nurses, pilots, anyone that pees.
Sharks, I'm asking for $150,000
for 10% for you to not worry and pee happy!
[ Laughter ]
Whew. I'm relieved that's over.
[ Sharks groan ]
You each have your own PeeSports in front of you
to check out for yourselves
and know that our PeeSports are super durable and made to last.
So this is one size fits all? It's one size fits all.
Yeah. Well, listen, it's well made.
Let's just speak to that. Regardless of the size.
And the expandability is good.
It does almost look like a toilet-seat cover.
I'm sure you did that, though, for women.
Yeah. It's unisex. Yeah.
So that it can cup up to your body.
O'Leary: The use case you showed us, you're in the desert.
You pull the Jeep over, you step outside.
Nobody's around. You get it over with.
Why would you need this? Snow: This is true.
But there's so many use cases you can use it for.
Like, pilots of small planes, truckers, Amazon drivers.
And let me show you guys. Let me show you something.
There's more?
You see this? Yeah.
This is our competition.
Mr. Wonderful, do you want to be seen with this
and with your pee in here in your car somewhere?
Kevin carries one of those around all the time.
I didn't know what it was. How much is the plastic --
How much does the plastic pee cup cost versus this?
These go for around 20 bucks in the pharmacy.
What's this? We sell that for $39.99.
So it's a premium pee jug.
What does it cost you to make?
It costs us $3 to make. $3?
We sell it for $40.
How do you sell it?
Only on our website so far.
Are you making money? We are making money. Yeah.
So last year our sales were $500,000.
Herjavec: What?! Wow.
You sold $500,000 in a single year of a pee-pee bottle?
Yes. We're building a premium product.
Henry, what is your background?
How do you even come up with this?
I was just an entrepreneur since I was young.
I was selling things on eBay when I was, like, 9,
packing things, having garage sales.
I had my first online business when I was 11,
and I was making, like, 50K a year, you know,
pretty good for a teenager. At 11?
Teenager. Yeah, yeah, yeah.
I wish you were my kid.
Greiner: That's not shabby, that's for sure.
And then I traveled a lot.
You know, I ran different online businesses.
I just thought, like, "What would be fun,
what would be exciting and useful?"
And I tested all these different ideas,
and this one just started selling.
A pee bottle?
It just started selling like crazy.
So last year, you did $500,000?
Yeah. Did you make a profit on that?
Yeah, we made about 130K in profits.
You haven't given us the CAC model.
And our CAC is $17 and our average order value is $60.
But I've been learning how to do manufacturing,
and now is the time where we really -- We got it fixed.
So we're gonna order 100K units.
We're really gonna start going crazy.
That's what you want the $150,000 for?
That's -- Yeah. We want to expand to distribution
because we've only been selling on our website.
Greiner: Yeah, I think you're great.
You did a good job.
But as far as a business for me,
I just don't think it's the right fit.
So I'm sorry. I'm out.
You don't think the luxury market is, uh,
the higher-end pee-bottle market?
I'm a premium guy, and I believe in high end.
And even when it comes to "peepeetoriums" like this,
I want the premium version.
I like peepee.
So let me make you an offer here, okay?
I mean, it's the only way I'm gonna do this.
I'm not negotiating on urine at all.
Okay.
I'll give you the 150,000 for 15%.
I want, of course, a royalty on this deal.
2 bucks a peepeetorium or this thing.
2 bucks per pee... 2 bucks per unit...
Wow. Okay.
...until I get back my $150,000. Then --
I'm sorry, Kevin. We can't -- I can tell you right away,
we can't do 2 bucks.
That's the quickest I ever heard.
Let me finish the offer. So $150,000, 15%.
2 bucks a unit until I get the $150,000 back.
Then it drops all the way down to 50 cents in perpetuity.
What a deal.
Herjavec: Let me tell you where I'm at.
When I go for dinner
and people say to me, "Robert, what are you into?"
Do I want to say, "I'm into pee"? Yes!
It's funny.
Is that something?
I just -- I just don't see it as a category
that's good for me.
I'm out. Okay. Thank you.
Barbara, you like pee.
I'm uncomfortable with it for the same reason.
And also, I'm the type of girl that can pee anywhere.
I really am. I have to go,
and I do it right away.
I find a spot.
I'm the only one I know that could spend 12 hours on a beach
and never use a bathroom or go in the water,
because I know how to part the sand just right.
Ah, okay. Okay.
So I don't really have a need for the product,
but I have to tell you, you're a terrific entrepreneur.
You did it exactly how you're supposed to do it.
So I'm out, but I wish you
the best of luck because you've done a great job.
Thank you. Michael, think about this.
You could be the peepee king of the world.
The one thing I like about what Henry's done
is something we all do. I mean, it's no secret.
If you don't, you're probably...
Yeah. I try to destigmatize peeing.
I did a lot of money with the Squatty Potty.
If you don't, you're dead.
I'm never going to the beach with Barbara.
Ever. Ever.
I'm a big car guy, and I take a lot of drives,
a lot of road trips.
It's very hard, all of a sudden,
you have to use the bathroom, to find a rest stop.
Pull over!
Oh, could you imagine pulling over to the side
and somebody drive -- "Oh, Michael Strahan!"
I'm just... It doesn't work that way.
We have tens of thousands of customers
that keep it in their cars.
A lot of our customers are 60-plus,
and they got to pee every hour.
That's our number-one customer right now actually.
I believe it. We have many customers...
60-plus? ...but this is the number one.
Hmm. What am I gonna do?
♪♪
Narrator: Three Sharks are out.
Henry has an offer on the table from Kevin for his pee bottle,
PeeSport, and Michael is on the fence.
Hmm. What am I gonna do?
It's not a boring brand. It's useful, fun, exciting.
The team has a good time. Everyone's laughing.
Everyone's having a great time.
You know what makes people have a better time?
Making money.
I'm looking at Kevin's offer.
Makes a lot of sense, doesn't it?
Kevin, too much royalty. I'm sorry.
But, see, I may be a little --
I'm gonna change it up a little bit.
I'll give you $150,000,
17.5% of the company, though.
Okay.
A dollar per unit until I'm paid back.
Okay.
And after that, nothing in perpetuity.
That sounds fair. Greiner: That sounds good.
That's a good offer. Why 17.5?
Because it's better than his offer.
[ Laughter ]
Would did you do $150,000 for 11%?
No. 17% is way too high. We can't do that.
I have 75% and my business partner has 25%.
We're a brand-new company. We're gonna grow fast.
You have two -- You have two offers here...
For a peepee bottle.
So you would not be willing to do 11%?
No. Absolutely not.
Kevin, what about you?
I have zero flexibility.
I can't go beyond 12%. That is the maximum.
So you're telling me you'd take my terms
if I drop from 15 to 12%?
Would you take his royalty? Greiner: With the $2 royalty?
I would -- No, I can't do the royalty.
Well, you don't like anything, any of the deals.
$150,000 for 12%.
And no royalty. And no royalties.
No. It's got -- It's got to have a royalty
because that's how an investor like me offsets their risk.
We can do a royalty until the $150,000 is paid off.
How unexciting is that?
I could be flexible on the amount of equity,
but, no, not on the royalty.
This is a classic Shark Tank peepeetorium royalty deal.
Strahan: When you said royalty until he's paid back,
that's what I offered you.
But the equity was too high. You offered 17.5%.
Yeah, because I'm taking a risk.
Would you be willing to do 12%?
No.
Now I'm kind of mad.
[ Laughter ]
I can't do more than 12%. I can't do more than 12.
Look, I said I'd do the deal with my royalty structure
as I detailed it at 12%.
But I'm not gonna give up on the royalty
because that is mitigating my risk.
Henry, I've got to sell 75,000 peepeetoriums
before I even get the money back.
Okay, how about $2 royalty until $150,000
and 12% equity?
No, no, I got to get the 50 cents.
This is a big opportunity. Think about it. Greiner: It is.
You're only gonna be in that carpet once.
This is your big moment,
and you're gonna let 50 cents get in the way.
50 cents for lifetime.
Yeah, yeah.
But, you know, Henry, think about this.
You're gonna walk out that door.
My life is not gonna change.
But if you do this deal,
your life is gonna change to the upside
because you got a deal with Mr. Wonderful.
That's what you got to focus on.
Greiner: Think -- Think hard about that.
Henry, what are you gonna do?
Are you flexible on the 50 cents lifetime?
Okay. 35. But that's it.
Would you go down to 20? No.
Good for you. Wow.
Snow: If it's a billion-dollar company,
we have, you know, pee testing, urine testing.
O'Leary: The only way it's getting to a billion...
But it's better for you to have a piece
of something that big than nothing.
That's true. That's true. Yeah.
What are you gonna do?
You know what I'm gonna do for you, Henry, right now?
It's the last -- You got to say yes or no.
It's $150,000 for 12% equity.
Then $2 a peepeetorium until I get my $150,000 back.
Then it drops to 30 cents in perpetuity.
Okay.
Um...
Okay, Kevin, let's do it.
Okay. O'Leary: Wow. Yes.
He's so excited to be in business with you.
I think it could be really good.
Thank you. I'm excited.
Congratulations.
Henry, you almost had me, man. You are a hustler.
That was close.
You know, I think it's gonna do well.
Thank you. Thank you. Thank you, Henry.
Greiner: Bye, Henry.
Snow: Now that I have Kevin on my team,
what's next for PeeSport is to get into retail,
get more stock, get 100,000 PeeSports in stock
and just grow from here.
Narrator: In season 16,
we watched Tami and Michael DeLeeuw
and Judah Houser make a deal with Daymond John
for their nasal diffuser company, Essence.
Tami: Place the essence nasal diffuser over the septum
of your nose and inhale deeply.
It's like having a personal air freshener.
Narrator: Let's see what they're up to now.
Tami: When we entered the Tank,
we were averaging about 500,000 a year.
Within the first week of being on "Shark Tank,"
we did over 500,000 in sales.
Houser: It was not easy. There were 24-hour days.
I mean, we really did have to pull in neighbors
to fulfill these orders.
It was a literal community outreach.
It's now been five months since we closed our deal with Damon,
and we have done over $1.2 million in sales.
All the essentials you need when flying.
I love it.
Damon is an incredible brand advocate.
He wears it. It's part of his life,
and it's really interesting to see
how doors open with just his name associated with your brand.
People realize you are legit
because you work with Daymond John.
He's introduced us to airport kiosks,
which is a very cool thing because this is
where the idea was born.
It was on an airplane.
That's been a huge door that he's opened for us.
I think launching a tabletop diffuser
is a great extension for the brand.
I invested in Essence because of the entrepreneurs,
but I also have been wearing essential oil for years.
So now the ability to keep it on you in a space
where you get that scent for hours,
I love the concept.
Michael D.: One of the biggest things that's happened
since "Shark Tank" is we've been able to move
from our rental, 1,800-square-foot building,
to purchasing a 5,000-plus square-foot building
to help us expand into the global markets
that we're going into.
We're living examples of if you just stick with it
and you keep leaning on the people around you,
this is where you end up.
Thank you again for all of you guys.
We've been able to double our workforce
and bring other members of the community
into the Essence team.
[ Cheers and applause ]
John: What's next for Essence?
Well, retail expansion,
collaborations, expanding into international territories
like Korea, Taiwan, servicing airlines.
There's no end to where this business is going.
It is exploding.
We are more energized than ever
to keep this momentum going.
And if this past year is any indicator,
the future smells like more success.
♪♪
Man: Folks, stand by. Hey, I got to say,
it stings a little bit when they don't pick you.
Corcoran: Yeah, it really does.
Well, Sharks are humans. Herjavec: Are they?
I thought they were fish.
Sharks are humans. They have feelings.
Narrator: Next up is an innovation
to an overlooked piece of golf equipment.
♪♪
Hello, Sharks. I'm Caroline.
And my name is Michael.
We're from Orlando, Florida,
and we're seeking $300,000
in exchange for 10% of our company...
Both: Flightpath.
Sharks, golfers are relentless
in their pursuit of improving their game.
They spend tons of money on custom clubs,
special shoes, even coaching.
Yet most golfers still overlook one key piece
of equipment -- the golf tee.
And most golfers are still using wooden tees
that haven't been evolved in over...
Both: 100 years.
Ugh!
What if there was a tee that was super durable
and actually helped you improve your game?
Sharks, we're excited to introduce
Flightpath Performance Golf Tees,
the most innovative golf tees in the world.
Our tees are the first tees that are robotically tested,
proven to increase distance and accuracy.
And the best part is they're approved for play
and made in the USA, baby.
Sharks, it starts with our innovative
directional diamond design.
It strategically reduces backspin and side spin,
which are the enemies of a perfect drive.
Our tees are the only tees that offer a smart arrow
where you can aim in the direction
you're hitting the ball.
These things are incredibly tough.
You could use the same golf tee for over 100 drives.
Sharks, with your investment,
we can increase production, enhance our marketing,
and drive forward into new markets.
So Sharks, who's ready to swing
a deal with Flightpath?
Great job. Good job, good job.
Strahan: Well done. You did it!
So I have to ask -- I'm a golfer.
Better distance, better accuracy. Michael S.: Yes.
I know that you said it does that,
but how do you prove it does that?
So our golf tees have been robotically tested
and under controlled conditions,
it should help about three, three and a half yards.
It's gonna help reduce the spin on the ball
to help your ball fly straighter through the air.
You can aim the direction of the arrow.
So the last thing you think about
before teeing off is the fairway
and it's not the trees on the left or the water on the right.
But, you know, the tees are free in most clubs.
A value point that we drive with the tee is,
"Hey, it is gonna be, like, the last tee you ever buy."
What do you sell it for?
So we sell a box of eight,
you can buy it for $25.
Ouch! $25.
For tees?!
Yes. But how much have you sold?
So we have $11.8 million in lifetime sales.
What?! You gotta be kidding.
Greiner: Wow. Four years in business.
This is our fifth year.
Herjavec: What did you sell last year?
$4.3 million.
And are you profitable? Corcoran: How much profit did you have?
So we did approximately $46,000 in profit.
Herjavec: Why so low? That's all?
We're gonna get into that.
How about we go back to the beginning
and then walk you guys through it?
In 2020, we launched the brand.
That year, we did $650,000 in sales.
We lost $60,000 that year.
Customer acquisition cost. Was crazy.
That's the problem. Year one.
Just from ad spend? Yeah.
So year two, we do $60,000 in sales
with $30,000 in profit.
Year three, we do $300,000 in sales
with $60,000 in profit.
What did you spend on ads?
It's probably like $2 million in total.
The total was $2 million.
Wow.
So now we can explain why last year
we really got kicked in the teeth.
Okay.
There's two things that contributed.
The first one was we switched our 3PL
because we had a terrible relationship with them.
So we negotiated a cheaper pick
pick and pack rate with the new 3PL,
moved everything over there. And?
And they charged us a much higher postage rate
than we were paying before.
We were paying $2 extra per unit.
But why did your revenue go way down?
That's -- That's -- That's problem number one.
So the second thing was
we sold 40,000 units to a company,
and they turned around and sold it directly
to Amazon as a one-piece seller. What?
And after a few months,
they probably sold 38,000 units.
Give me a second.
You just gave me a litany of ways on how you screwed up.
Your story is, "We screwed up this way,
then we screwed up this way, and then we screwed up this way.
And by the way, we screwed up this way."
Here's how we're back, though.
And the worst part...
Right now you're back in the bottom of the toilet.
You know, the worst part of the story
is you told it as a victim.
I've invested in a lot of businesses,
and I separate the men from the boys
and the women from the girls on a little test I do.
Usually about eight months to a year,
somebody screws up.
"The attorney did this. The production was wrong."
The minute they sit there and they're talking about,
"They did this to us, they did that,"
instead of, "We screwed up"...
They don't take ownership.
But that's what I heard in your tone.
So for that reason, I'm out.
Understood.
You've got amazing sales.
But the story for me had a lot of loose dots.
I couldn't quite connect them.
Wish you the best. It's not for me.
I'm out.
How did you even come up with this?
Michael S.: So we actually own a digital marketing company,
and we started investing into different
direct-to-consumer products.
And Caroline met the inventor of the product.
So it's not your innovation. It's the other guy.
No. So he's a partner in the business.
But what is the equity breakdown between you two?
And is the -- Is the inventor still a partner?
We own 90% of the business.
What did you pay to get 90% of the business?
We have a seller financing deal for $800,000.
Have you paid him back yet?
We've currently paid $55,000.
Of the $800,000.
Yes.
Oh, you've got a lot of work ahead of you.
It's a long way to go. We --
Look, your story is a lack of executional excellence.
You know, you had your opportunity.
You totally screwed it up.
That was horrific.
The back end of your presentation was F minus.
Can I address this year
and how we've resolved these problems?
No. I'm out.
I will say you've had a hard road.
You have a lot of money that you owe.
And I don't want to take on the problems of your journey.
So I'm sorry.
And I wish you good luck, but I'm out.
So, guys, I'm looking.
There's just so many ups and downs along the way.
I think that you two found something
you thought was interesting.
You took out the $800,000.
Right. And we fought. We're swinging.
We're going. We're not giving up. You're swinging.
You're taking a chance at the entrepreneurship.
You take a swing at it.
But I just think there have been
so many mistakes along the way
and so much catching up to do...
Michael, can I -- can I pause you for a sec...
Go ahead. ...and ask you?
I understand there have been some ups and downs,
but the first year is the only year
that we haven't made profit.
There's been profit every year, right?
And any business there's gonna have ups and downs, right?
Hard work will put you
where good luck will find you.
We've been punched.
I'm sure every Shark invests in the businesses
and then they get punched afterwards.
We've already had the punches, guys.
So what would need to be true for you
to be able to invest today and feel comfortable?
You know what my thing is?
The past mistakes.
As I did in football,
I have to retire from this deal.
I'm out.
I have one more idea that has no risk...
O'Leary: I love it. You don't stop. ...if you'd be interested.
What is that? Greiner: What's your idea?
I am proposing a $300,000 royalty.
And we would pay you 50 cents per unit.
Until you make double your money.
Yes.
And we'll do a 5% equity kicker.
Wow.
Even though we've had a crazy year last year,
this year is gonna be completely different.
We're projected to do $5 million this year.
So help us make better decisions, help us grow this.
But you already owe $800,000 to your existing partner.
Greiner: Right. Now you're in fact adding
just more debt to the business.
Our business is cash flowing.
Our business is profitable. We feel confident.
We've met with our finance team.
We've looked at the numbers.
Herjavec: Michael, have they swayed you?
No. No. You are convincing.
You really are.
But I just can't make sense of the numbers.
Michael, you're a -- You're a mean guy. Michael S.: Thank you, guys.
Thank you, guys. Greiner: We wish you good luck.
Thank you.
I'm kind of like the big negotiator of our business.
I was ready to make a deal happen,
come hell or high water.
So I'm just doing the replays
so I can play better tomorrow.
Narrator: Next up is a product the founder believes
can stop an embarrassing problem for millions of Americans.
♪♪
Hi, I'm Josh Lippiner,
and I'm the managing director of Nampons,
and I'm here today seeking $350,000
for 5% equity in my company.
Herjavec: Wow. Whoo.
Sharks, did you know that every year,
60 million people in the U.S. alone get a nosebleed?
That's one out of every five people
who wake up in the morning,
and at some point today will get an annoying,
messy, and often very embarrassing nosebleed.
And they're just simply not prepared for it.
So how are we taught to deal with it?
Well, by shoving tissues up our nose.
Yes. Yeah.
Or my personal favorite...
Greiner: No. ...a tampon.
Corcoran: Oh, my gosh. O'Leary: That's a look.
I've never thought of that. I've never seen that.
I've never gone that far.
This isn't embarrassing at all.
That's why I created Nampons.
The leading product for treating nosebleeds quickly
and with less mess and less embarrassment.
Nampons are super small and convenient,
so you can bring them with you anywhere.
When you get a nosebleed,
simply open up the Nampon and stick it in your nose.
That's it.
The Nampon will immediately expand,
absorbing 10 times more blood than tissues.
So less mess.
Greiner: Wow.
And they have an advanced clotting agent in them,
which will stop the bleed fast so you can get back to your day.
Best of all, once it stops,
you simply remove the Nampon.
You don't have to worry about it restarting.
So, Sharks, who wants to help me get Nampons
into every medicine cabinet and first aid kit in America
and eventually the world?
Because, well, nosebleeds happen
and nosebleeds need Nampons.
Greiner: Oh, no. Oh, yeah.
So right in front of you there,
you have a little fun science demonstration.
Kind of like those old dinosaurs
that used to explode when they were a kid.
You got a little dropper here with some blue water.
Don't worry. Not blood.
Just take it and drip it onto one of the Nampons there.
Oh, it's very absorbent.
And it should blow right up there. Herjavec: Wow.
Strahan: Alright. Let's see what we got here. Greiner: Very absorbent.
Lippiner: So now imagine that actually happening in your nose
when you have a nosebleed,
uh, on the soccer field and in the office,
wherever you are. O'Leary: Oh, wow, they really expand.
Wow. Yeah. They expand extremely fast.
They expand, usually, within 10 seconds.
Is there any risk that your head explodes?
Because this thing is expanding very quickly.
So far we have sold well over a million of them
and nobody's head has exploded.
Do you have a patent on this?
There's no patents on it.
We have the IP on the trademarks for the designs,
but because of prior art,
we weren't able to get any kind of patent on that.
However, we have some new products coming out
that are completely revolutionary.
You'll like this, Michael. Nampon sport.
It's gonna come out next year.
It allows athletes to put the Nampon in their nose,
get back into the game and still be able to breathe
while they're out... Oh, that's cool.
Through the nose? Through the nose.
Even through -- even through the device?
It's got a mesh airway inside of it
that allows them to breathe and get back out.
Josh, you said you were the managing director.
Are you the founder and owner?
I am. Yeah. You are?
Wow. Are you a doctor?
Do you have any medical background?
I'm not a doctor. We have medical advisory board.
We've got hematologists. We've got ENTs on our board.
I just happen to like how the scrubs look on me.
What are you selling it for?
So that box you're holding there, that's a 12 pack.
That's $24.99.
You're talking about retail now.
That's retail. Yeah. Yeah.
Six pack, which is our biggest seller, is $15.99.
Is that this? What's it cost you to make it?
The six pack cost us $3.61 to make.
And we sell it for $15.99.
O'Leary: What about the 12 pack?
The 12 pack cost us $7.86 to make.
Josh, did you say you sold $1 million of it?
No.
Last year we didn't sell $1 million.
We sold $3.4 million.
Corcoran: Wow. Last year?!
Last year was $3.4 million. I can't believe that.
How long have you been in business?
We launched in 2021.
Tell us the sales the year before.
$1,100,000 the year before,
$3.4 million the next year.
And this year we're on track to do $3.8.
Greiner: Wow. And before you say,
"How come your growth isn't as strong between the two years" --
How come your growth isn't as strong?
Well, I'm glad you asked that question.
Last year, we had a very large wholesale order
from a global first aid kit company
that decided to put it in all of their first aid kits,
so they front loaded that purchase. Got it.
So they bought for a couple of years.
Last year we did $2 million in direct-to-consumer on Amazon.
This year we're on track to do $3 million.
What about in drugstores?
Do you sell this in retail?
We are in a major big-box retailer starting in April
of this year. Which one?
We're in 1,200 Walmarts.
Can you tell me what you're gonna make off
this $3.8 this year?
So last year we did $3.4.
We made $800,000.
Yeah. Greiner: Wow.
Herjavec: Wow. This year we're on track
to net around $200. $200,000? That's it?
Yeah. Because we've been reinvesting
back into the new products that are coming,
plus an awareness in marketing.
So you're making $200,000.
I know you're reinvesting,
but you've priced this valuation
at $7 million for the company.
Okay? Mm-hmm.
So I have to pay you 35 times what you make
to buy any equity in this thing.
In today's market, very few companies get 35 multiples.
The stock market itself doesn't trade at a 35.
Yeah. I mean, if you're looking at it from the net,
from the EBITDA perspective... Why wouldn't l look at it?
That's the only way to look at it.
Because when you look at comps, right now,
what's going on in the health and wellness space,
the lowest that any company that's right now
looking at is 2.2 times revenue, not times EBITDA.
The revenue days are over. So that's a problem here.
So -- So who is your competition in something like this?
Is there -- Is there any?
We basically created the category.
And that's been the challenge here, right?
Since then, you've had a bunch of knockoff companies come
and try to gain market share. Oh, really?
They don't have the clotting agent.
We have that proprietary. No clotting agent.
They just have either expanding foam.
It's a cotton ball.
And can you do anything to stop them?
Innovation is the only way we can stop it.
Your only barrier to entry
is the trademark and the brand.
Yep. The brand, trademark or distribution.
And yes. Listen, I'm impressed.
And the only problem I have with it is valuation.
I would never, ever pay 35X for this.
I actually think your company is worth
about $2 to $2.5 million,
so I'm out.
But I wish you the best of luck.
You've done something remarkable.
No, I appreciate it. Thank you very much.
Greiner: I think it's very cool.
But I have to say, I'm in the same camp as Kevin.
I think your valuation, I don't love,
Well...
And I like a little more skin in the game.
So for that reason, I'm out.
Corcoran: You know what I'm bothered by?
That you had $3.8 million in sales,
but you only had $200,000 in profit.
And I understand because you're putting it back
into the business.
However, you are the kind of person
that's always gonna be putting it back
into the business.
I'm just wondering how the cash will come out.
I agree with, wholeheartedly, everyone else here.
I thinks it's totally overpriced.
So for that reason, I'm out.
Look, when you go into a very large category like Band-Aids,
the mistake people make is they try to take
on the entire category.
You found a very narrow point of entry
and you want to own that category.
Yeah. There are competitors.
Your valuation is -- is -- is high.
But I'm more creative than the other Sharks.
The premise of our show is, if I don't like your valuation,
I can simply choose to offer you a valuation
that I feel comfortable.
Or something else creative.
So I will give you the $350,000
because I think you're the real deal, my friend.
Appreciate it.
I'll give you the $350,000.
The valuation I feel comfortable with is 25%.
Greiner: Whew! 25%?
Wow. Itchiwawa, carumba.
Wowza. Hmm.
So you're valuing it at roughly $1.6 million
on $3.4 million in revenue from last year?
How do you feel about that?
I don't love it.
Well, are you in?
Michael, are you in or out? What are you doing?
You know what? I'm -- I'm intrigued by it,
but I don't know if I'm comfortable doing this alone.
Well, go in on Robert's.
But Robert's got to agree with that.
I think he will.
Yeah, I would do that. Sure.
Michael knows a little bit about sport.
I'm comfortable with the offer with Robert.
$350,000 for 25%.
Can I propose something creative?
And I'm actually surprised
Mr. Wonderful didn't bring this up.
Let's hear what you got. I might come back in.
Narrator: Three Sharks are out.
Josh has an offer on the table from Michael and Robert
for his first aid for nosebleeds, Nampons,
but he has a counteroffer to make.
Can I propose something creative?
And I'm actually surprised
Mr. Wonderful didn't bring this up.
Let's hear what you got. I might come back in.
Royalty. What royalty?
Well, these two gentlemen believe in me a bit, so...
I believe in royalties.
So what if I was to offer you a royalty
until you made your investment back?
Right. And then after that point,
you would have equity in the company.
Greiner: How much? Corcoran: How much?
What would be the royalty and what would be the equity?
Same $350,000 for same 5%,
but 5-cent royalty on every individual, not box,
individual Nampon sold until you've made your money back.
So that means in a six pack, 30 cents,
so forth and so on. Greiner: Gotcha, gotcha.
Josh, here's my view. Uh-huh?
Unlike Kevin, I don't need the money along the way.
I am happy to invest in the entrepreneur and the business.
I don't want to speak for Michael.
No, I'm with you.
This is, for me, very binary.
You're creating a new category.
Competitors are chomping at the bit.
You got to run fast.
For me, the interest is to build this company,
not take money out of it, and then hopefully sell it.
You would have to sell 7 million Nampons
for us to get that $350,000 back.
How long -- How long would that take?
With your involvement,
less than two years in my opinion.
I don't want to do it for 5%. Yeah. Me either.
Okay. Would you do it for 10%?
And still the royalty? And still the royalty.
Would you up the royalty?
You're not even in, but I respect you, so...
I might be.
I would do the deal for 10 cents a unit,
and I'd do it for 7.5%...
Greiner: Hmm. ...equity.
10-cent royalty. Yeah.
I'll do the royalty until you've made back $500,000.
10 cents, you make back $500,000,
and you still get the 5%.
I would do that for 10% equity at the end.
Not to speak for Michael. Michael, would you do that?
I'm in on that.
Would you do it for 7.5?
No, but I'd do it for 10%.
Would you put more money in it?
You said it yourself. This has got to move fast.
I would do the $350,000 for 10%.
Kevin, what was your offer again?
I said I'd do it for 10 cents and 7.5%.
But I want the bump to $500,000.
What did you offer, 500K?
I got to get a lift on the capital.
What did we say? $350,000, 10%,
10 cents until we get back.
$350,000, 10%.
Till we get our money back.
And then... Till we get our money back.
I don't need the bump to $500,000.
...10 cents until you get your money back.
Yeah, we don't need the bump to $500,000.
And I get both of you.
Yes.
You got a deal.
Whoo! Yeah. Alright.
You know what? I'm gonna go around
and start punching people in the nose.
Man, I love this.
I don't want to get too excited by it.
Brand-new category. Michael.
Whoo! Very excited.
Greiner: Thank you. Thank you, thank you.
Nice!
Going into the Tank today,
I was definitely hoping to get a deal with Michael
when I heard he was the guest Shark.
Super excited.
And Robert, I think those two together,
incredible combination, dynamic duo.
They're gonna do wonders for Nampons.
Narrator: Next into the Tank is a product
that can transport you to the location of your dreams anytime.
♪♪
Hello, Sharks.
My name is Mitch Braff and I'm from San Rafael, California.
I'm seeking $250,000 for a 2.5% of my company.
Herjavec: Wow.
Sharks, how many of you have ever lived
or worked in a room without windows?
Corcoran: Horrible.
I have. It's soul crushing.
When you're cut off from the outside world,
your stress goes up,
your sleep is affected, and your work suffers.
Windowless rooms are silently affecting the mental health
of millions of people every day.
That's why I created LiquidView --
virtual windows with beautiful and gorgeous 24-hour views...
Wow. ...that breathe life into any room.
Wow. Beautiful. Sharks, welcome to Hawaii.
Wow. Yeah, it's really pretty.
Shot in stunning 8K with motion-picture cameras,
our high-resolution views dynamically sync
to your circadian rhythms.
God, it looks so real.
When it is sunrise in your house
and outside, it is sunrise in LiquidView.
Let me give you an example.
Here is sunrise at Rodeo Beach.
And now you can see if it was then sunset,
check this out.
The magic hour in Northern California.
Corcoran: Wow. How beautiful.
This is what you can expect. What a great idea.
Thank you so much. Greiner: Really pretty.
Now it feels --
and with our stereo sound design -- sounds
like you're really there.
With our growing library of 24-hour views,
we can take you anywhere you want to go
with a simple click. Wow.
That's cool. How about Miami?
Wow. O'Leary: Yeah. That's Miami.
That is so cool.
Venice.
I'm coming, baby, I'm coming.
I seriously love this.
I mean, it's like we've gone on vacation everywhere.
And in the meantime, I don't know about you,
but when I like to close a deal,
I like to be in the south of France.
Woo-hoo! Yes!
Corcoran: I want to go on vacation with you.
Yeah, we're going there. Yeah.
How many locations do you actually have to offer?
We have 10 views. 10 24-hour views that we shot.
Is it a loop?
It's a 24-hour loop.
It matches wherever city you are
on whatever date it is,
it's gonna know the sunrise and sunset of that day
in your specific location. Wow.
O'Leary: But, Mitch, where do you think the value
is actually captured here?
Because I don't want to pour water on the presentation,
but I'm living through this right now.
I'm building a den
for my buddies to watch Sunday football,
and I learned you can now build a complete digital wall.
And it comes in panels that are seamless,
bigger than that wall. $22,000.
And, Mitch, how much is yours?
The system we're looking here, turnkey, including
the hardware, everything
and -- and 3 24-hour views is $48,000...
Whoo. Corcoran: Wow.
for -- for this system.
It's only for the rich. Wow.
And I would say the -- the profit on us
as a business is 45%.
O'Leary: Somebody comes to you like me,
with a wall already installed at 6K
and wants to license your 10 images.
I'm interested. How much does that cost me?
Right now, we're gonna have a media player alone,
since you don't need everything else.
You already have the display.
All I need is an HDMI input, right?
Correct.
We're gonna charge you around 2 grand
for the media player and $299 a month.
I get all 10 for $299?
And you get one new view a month.
That's our business model.
So the hardware is just a way for you to get your content out.
Yeah, exactly. We're a content company.
So why aren't you just pitching that model here?
Because that's interesting. Yeah.
Strahan: I mean, I'm thinking about the average person.
Right. I think this is priced out of the price range of --
of most people, unless you're really wealthy.
But I'm just curious, are there different price points for this?
I'm really glad that you mentioned that.
So -- So I should say two things about our business.
80% is commercial, 20% is residential.
Commercial is not as price conscious.
We are in hospitals, we are in assisted living, in memory care.
It's perfect for that.
Greiner: Oh, that's a really good market for you.
Herjavec: You're already out there selling this.
Yeah, we're already out there selling this.
Last year we had $1 million in sales in 750,000...
About time we heard that. $1 million in sales.
You didn't mention that.
Yeah, on the million last year,
what did you make?
We are gonna be profitable by the middle of next year.
You haven't made any money yet.
You're still burning.
I think this is one of the coolest things I have seen
come into the Shark Tank.
Don't you all feel better sitting here... Definitely.
...looking at the different scenes?
I mean, I would love to be in Venice one day
and in the south of France the next,
but to me, I'm a consumer-product person.
I love product at an affordable price.
Mm-hmm. And so while I adore this,
it's not really the right investment for me.
But I commend you so much for something so cool
and I wish you good luck.
But I'm out.
Strahan: Yeah, Mitch, I think this is -- this is unbelievable.
To see actually movement and a time
and it equals up to wherever you are,
it is fantastic.
For me, the price point, when you said it,
I went [gasps]
Like, I took a deep breath in
because I think that would be the reaction of most customers.
And I know that, you know,
it's more commercial applications
that you're looking for.
I just think this is a little too niche for where I'm at.
So with that being said,
I wish you the best, but I'm out.
I do object to the price as well,
but I do think the commercial application is enormous,
especially because I live in a city called New York... Greiner: Yeah.
...and there's vast commercial spaces,
and you walk into a vacuum of a whole city block
and there's no view.
I think even for sales purposes,
bringing it to life and putting a view on the wall,
I think would help tremendously.
So I think there's a lot of application,
but I think the price is just too high
for where you're going with it right now.
So unfortunately, I'm out.
Thank you.
I think it's really early,
and this model is for 1% of the market.
It's so expensive.
I want to get into it when it's for 50% of the market.
And I'm watching this market develop.
This is crazy pricing. I'm out.
Alright. Thank you.
Um, look, I-I disagree with the other Sharks.
I don't think for the application you're going with,
your price is too high.
I'm in enterprise sales. I'm in commercial sales.
That's more my world than the consumer world.
There's a saying in that world,
which is where there's mystery,
there's margin, and it's beautiful.
I mean, it's got a real wow effect.
The challenge I have is
I don't think this is gonna scale
to something really big.
I'm out.
Alright. Thank you.
Greiner: It really is fantastic.
Just blown away by how great that is.
Thank you. Thank you very much.
Good luck. Bye.
Thank you, guys. Bye.
I wish we got a deal, 100%.
We just have to find a better way to position it.
There are millions of people with windowless rooms,
and it made me feel good that the Sharks loved our product.
♪♪