1
00:00:01,134 --> 00:00:02,836
Narrator: Tonight,
Fawn Weaver, the founder

2
00:00:02,836 --> 00:00:05,572
of Uncle Nearest Premium
Whiskey, returns to the Tank.

3
00:00:05,572 --> 00:00:08,375
I think you're incredible.
You're an absolute genius.

4
00:00:08,375 --> 00:00:09,643
Creative genius.

5
00:00:09,643 --> 00:00:11,645
I want to work with you
so badly.

6
00:00:11,645 --> 00:00:13,780
Why would anybody buy
this pain in the ass?

7
00:00:13,780 --> 00:00:15,849
Don't fall asleep
at the switch.

8
00:00:15,849 --> 00:00:17,618
Hold on one second.
Let me get there.

9
00:00:17,618 --> 00:00:19,586
Silence, please.

10
00:00:19,586 --> 00:00:22,689
The industry is a sea
of Sharks.

11
00:00:22,689 --> 00:00:24,691
This has never happened
in "Shark Tank" history.

12
00:00:24,691 --> 00:00:26,760
You are living
the American dream.

13
00:00:26,760 --> 00:00:30,564
You have no idea
how crazy this thing is going!

14
00:00:30,564 --> 00:00:32,198
[ Screams ]
[ Laughs ]

15
00:00:32,198 --> 00:00:33,300
The drama!

16
00:00:37,738 --> 00:00:39,573
Man on P.A.:
Good morning, everybody.

17
00:00:39,573 --> 00:00:41,408
Let's have a wonderful day.

18
00:00:41,408 --> 00:00:42,609
We're gonna have
a great day.

19
00:00:42,609 --> 00:00:44,611
Yes, we are.
Yay!

20
00:00:44,611 --> 00:00:45,612
Here we go.

21
00:00:45,612 --> 00:00:47,881
♪♪

22
00:00:47,881 --> 00:00:50,784
Narrator: First in the Tank
is an entrepreneur on a mission

23
00:00:50,784 --> 00:00:54,187
to help the world sleep
more soundly.

24
00:00:54,187 --> 00:01:00,627
♪♪

25
00:01:00,627 --> 00:01:02,529
[ Snoring loudly ]

26
00:01:02,529 --> 00:01:04,464
Hey, Sharks.
I'm Anders Olmanson,

27
00:01:04,464 --> 00:01:05,632
I'm from Eagan, Minnesota.

28
00:01:05,632 --> 00:01:07,701
And I'm here seeking $400,000

29
00:01:07,701 --> 00:01:09,770
for 4% of my company...
Wow.

30
00:01:09,770 --> 00:01:13,507
...REMplenish, a new solution
for a solid night of sleep.

31
00:01:13,507 --> 00:01:14,741
[ Snoring ]

32
00:01:14,741 --> 00:01:17,811
[ Light music plays ]
[ Laughter ]

33
00:01:17,811 --> 00:01:21,648
Have you ever shared a roof
with someone who snores?

34
00:01:21,648 --> 00:01:25,552
Then you know when one person's
"sawing logs,"

35
00:01:25,552 --> 00:01:28,322
the whole house is losing sleep.

36
00:01:28,322 --> 00:01:29,523
[ Alarm rings ]

37
00:01:29,523 --> 00:01:31,592
It's like sleeping
with a lumberjack.

38
00:01:31,592 --> 00:01:34,094
[ Laughter ]

39
00:01:35,562 --> 00:01:38,398
[ Engine sputtering ]

40
00:01:38,398 --> 00:01:39,700
Oh, no!

41
00:01:39,700 --> 00:01:41,535
[ Engine sputtering ]

42
00:01:41,535 --> 00:01:44,438
Weaver: No!

43
00:01:44,438 --> 00:01:46,406
[ Engine cranks, sputters ]

44
00:01:46,406 --> 00:01:52,045
[ Laughter ]

45
00:01:52,045 --> 00:01:54,047
Olmanson:
So, what if I told...
[ Laughter ]

46
00:01:54,047 --> 00:01:55,949
What if I told y'all
those snoring struggles

47
00:01:55,949 --> 00:01:59,853
could be snoozed away with
just one simple daily routine?

48
00:01:59,853 --> 00:02:01,421
Weaver: I'm in.
By playing...

49
00:02:01,421 --> 00:02:02,756
Right?
I'm in.

50
00:02:02,756 --> 00:02:06,426
...the didgeridoo, an ancient
Aboriginal instrument.

51
00:02:06,426 --> 00:02:07,828
What?!
Oh, my God.

52
00:02:07,828 --> 00:02:11,431
[ Didgeridoo plays ]

53
00:02:11,431 --> 00:02:12,766
♪♪

54
00:02:12,766 --> 00:02:14,868
So it looks crazy, Sharks.
I know.

55
00:02:14,868 --> 00:02:17,638
But studies have shown
routinely playing the didgeridoo

56
00:02:17,638 --> 00:02:19,806
can improve snoring
and sleep apnea.

57
00:02:19,806 --> 00:02:22,609
How? By exercising
the upper airway muscles

58
00:02:22,609 --> 00:02:24,478
that collapse during sleep.

59
00:02:24,478 --> 00:02:25,779
What?

60
00:02:25,779 --> 00:02:29,750
But who wants to play
a didgeridoo every single day?

61
00:02:29,750 --> 00:02:32,486
Sharks,
you don't need a didgeridoo.

62
00:02:32,486 --> 00:02:33,920
You just need...

63
00:02:33,920 --> 00:02:36,723
the REMplenish Myo-Nozzle.

64
00:02:36,723 --> 00:02:39,726
This patented innovation turns
an ordinary straw

65
00:02:39,726 --> 00:02:41,962
into powerful workout
for your airway.

66
00:02:41,962 --> 00:02:44,765
REMplenish provides
guided exercise repetitions

67
00:02:44,765 --> 00:02:45,966
with targeted resistance

68
00:02:45,966 --> 00:02:48,535
all through
the natural action of drinking.

69
00:02:48,535 --> 00:02:50,303
Watch this.

70
00:02:50,303 --> 00:02:50,804
♪♪

71
00:02:50,804 --> 00:02:54,641
[ Laughter ]

72
00:02:54,641 --> 00:02:56,710
And that's it.

73
00:02:56,710 --> 00:02:59,913
Sharks, no more bulky machines,

74
00:02:59,913 --> 00:03:03,083
painful surgeries,
or silly gadgets.

75
00:03:03,083 --> 00:03:05,952
Now, who's ready
to ride this REM cycle momentum

76
00:03:05,952 --> 00:03:10,023
and wake up the world
to a whole new way of sleeping?

77
00:03:10,023 --> 00:03:12,059
You have REMplenish products
in front of you.

78
00:03:12,059 --> 00:03:13,627
So, you two,
how about you go get

79
00:03:13,627 --> 00:03:14,795
a good night's sleep
somewhere else?

80
00:03:14,795 --> 00:03:15,862
Thank you.

81
00:03:15,862 --> 00:03:17,798
And get that chainsaw
to work.

82
00:03:17,798 --> 00:03:19,700
So before you start,

83
00:03:19,700 --> 00:03:20,934
so we'll just walk
through a few different things.

84
00:03:20,934 --> 00:03:22,769
So these are
our main product lines.

85
00:03:22,769 --> 00:03:24,738
We've got
the REMplenish Myo-Nozzle.

86
00:03:24,738 --> 00:03:26,073
And then you have
the steel bottle.

87
00:03:26,073 --> 00:03:28,075
So that makes it portable
and convenient.

88
00:03:28,075 --> 00:03:30,844
So when you drink out of a
straw, you're pursing your lips,

89
00:03:30,844 --> 00:03:33,680
you're using your cheeks,
and your tongue's going back.

90
00:03:33,680 --> 00:03:34,948
I can't get any water.

91
00:03:34,948 --> 00:03:36,883
Yeah. So if you try
and drink it like a straw,

92
00:03:36,883 --> 00:03:39,486
you're not gonna get water.
You couldn't get any water?

93
00:03:39,486 --> 00:03:40,787
So how to use it --

94
00:03:40,787 --> 00:03:42,789
We'll have
an animation video play.

95
00:03:42,789 --> 00:03:45,892
So there's three things.
First is the spot placement.

96
00:03:45,892 --> 00:03:48,595
So this is where the tip of
your tongue should normally go

97
00:03:48,595 --> 00:03:49,830
when you initiate swallowing.

98
00:03:49,830 --> 00:03:50,997
When you put it in your mouth,

99
00:03:50,997 --> 00:03:52,966
you're gonna go
all the way to the large bump.

100
00:03:52,966 --> 00:03:54,735
And then you're using your
tongue to create the suction.

101
00:03:54,735 --> 00:03:56,570
Mm!
It's working?

102
00:03:56,570 --> 00:03:57,771
Mm-hmm.
How does it feel?

103
00:03:57,771 --> 00:03:58,905
It's weird.

104
00:03:58,905 --> 00:04:00,207
Okay. So...
It's not comfortable.

105
00:04:00,207 --> 00:04:02,209
Okay,
so try doing this right here.
Weaver: Well, it's...

106
00:04:02,209 --> 00:04:04,144
Suction your tongue
to the roof of your mouth.

107
00:04:04,144 --> 00:04:06,046
...basically a workout
for this area, right?

108
00:04:06,046 --> 00:04:07,848
Yeah.
So it's not supposed to be easy.

109
00:04:07,848 --> 00:04:09,015
So yeah,
it's not supposed to be easy.
Yeah.

110
00:04:09,015 --> 00:04:10,383
It's targeting --
It's like you're working out

111
00:04:10,383 --> 00:04:11,985
muscles you haven't worked out
for a while.
O'Leary: Anders, Anders...

112
00:04:11,985 --> 00:04:14,020
why would anybody buy
this pain in the ass?

113
00:04:14,020 --> 00:04:17,858
Yeah. So, people --
There's over a billion people

114
00:04:17,858 --> 00:04:19,793
who suffer from sleep-related
breathing disorders,

115
00:04:19,793 --> 00:04:21,728
such as obstructive sleep apnea.
Weaver: Listen...

116
00:04:21,728 --> 00:04:24,631
you had me
at "stopping snoring."
[ Laughs ]

117
00:04:24,631 --> 00:04:25,966
Because I am married

118
00:04:25,966 --> 00:04:28,969
to the most incredible
human being in the world...
Yep.

119
00:04:28,969 --> 00:04:32,105
...but the man snores
very, very loud.

120
00:04:32,105 --> 00:04:36,610
And he would be perfect
if it weren't for that, right?
Yep.

121
00:04:36,610 --> 00:04:38,044
I just don't understand

122
00:04:38,044 --> 00:04:41,148
how my husband goes
from sucking on this to me

123
00:04:41,148 --> 00:04:42,916
not needing to wear
earplugs every night.

124
00:04:42,916 --> 00:04:46,153
Really, it's -- As you drink
more of it, you'll feel it more.

125
00:04:46,153 --> 00:04:48,155
How long does it take
before you see the benefits?

126
00:04:48,155 --> 00:04:51,091
Yeah. So people start
to see results in one month.

127
00:04:51,091 --> 00:04:54,861
So in our original research,
we had 37 participants.

128
00:04:54,861 --> 00:04:56,997
A usability study.
93% of snorers

129
00:04:56,997 --> 00:05:00,066
reported improvement in snoring
after one month of use.

130
00:05:00,066 --> 00:05:01,301
And that wasn't --
We didn't measure

131
00:05:01,301 --> 00:05:03,804
if it was completely gone or...
Is that your only test?

132
00:05:03,804 --> 00:05:05,906
Oh, we also have -- We did
a feasibility study

133
00:05:05,906 --> 00:05:07,908
with Mayo Clinic.
And how did that happen there?

134
00:05:07,908 --> 00:05:09,643
What happened
with Mayo Clinic, though?

135
00:05:09,643 --> 00:05:10,977
'Cause 37 people...
Is not much.

136
00:05:10,977 --> 00:05:12,746
...is not a lot.
Yeah. Yeah.

137
00:05:12,746 --> 00:05:14,848
Yeah.
But Mayo Clinic did what?

138
00:05:14,848 --> 00:05:16,950
So there's a statistically
significant correlation

139
00:05:16,950 --> 00:05:19,953
between tongue strength
and H.I. reduction.

140
00:05:19,953 --> 00:05:21,822
So that's apnea-hypopnea index,

141
00:05:21,822 --> 00:05:23,957
how many times you stop
breathing at night.

142
00:05:23,957 --> 00:05:26,760
And what that means --
It's a positive indicator

143
00:05:26,760 --> 00:05:28,829
that
we should do an efficacy study.

144
00:05:28,829 --> 00:05:31,064
So if I'm understanding
right...
Yep.

145
00:05:31,064 --> 00:05:36,269
...that study told you that you
should do more studies...

146
00:05:36,269 --> 00:05:38,939
A bigger study. Yeah. 'Cause...
...because --
Right, a bigger study.

147
00:05:38,939 --> 00:05:40,941
Yeah.
You didn't really get
an answer out of it.

148
00:05:40,941 --> 00:05:43,944
Yeah.
It just said
that this is kind of hopeful.

149
00:05:43,944 --> 00:05:45,645
Yeah, yeah.
Okay.

150
00:05:45,645 --> 00:05:47,080
What are your sales?

151
00:05:47,080 --> 00:05:50,984
2022, we did $450,000.

152
00:05:50,984 --> 00:05:54,221
2023,
we went up to $1.1 million.
Wow.

153
00:05:54,221 --> 00:05:58,158
Last year, we had almost 300%
growth for $3.9 million.

154
00:05:58,158 --> 00:06:00,126
-Wow.
-That's incredible.

155
00:06:00,126 --> 00:06:01,995
What do you think
you'll do this year?

156
00:06:01,995 --> 00:06:04,564
We're projected to do between
$8 million to $10 million.

157
00:06:04,564 --> 00:06:05,098
Wow.
Wow.

158
00:06:05,098 --> 00:06:07,234
How did you go from in '23,

159
00:06:07,234 --> 00:06:11,004
$1.1 million to triple
in a single year?

160
00:06:11,004 --> 00:06:12,072
What happened?

161
00:06:12,072 --> 00:06:13,874
Through Meta advertising,
mostly.

162
00:06:13,874 --> 00:06:15,242
Well,
let me ask you this.

163
00:06:15,242 --> 00:06:18,078
On the $3.9 million,
did you make a profit?

164
00:06:18,078 --> 00:06:20,947
Yep. So we made $436,000.

165
00:06:20,947 --> 00:06:22,682
What does it cost you
to make?

166
00:06:22,682 --> 00:06:23,850
And what do you sell it for?

167
00:06:23,850 --> 00:06:26,052
So the nozzle, it's about $6,

168
00:06:26,052 --> 00:06:27,320
depending on which version.

169
00:06:27,320 --> 00:06:31,057
With the bottle, it ends up
being about $16, cost of goods.

170
00:06:31,057 --> 00:06:32,425
Okay.
And what do you sell them for?

171
00:06:32,425 --> 00:06:35,896
We sell through our website
for $90 for the two together.

172
00:06:35,896 --> 00:06:37,130
Weaver: Wow.
That's a huge margin.

173
00:06:37,130 --> 00:06:40,800
O'Leary: Let me kind of clear
the field here a little bit.

174
00:06:40,800 --> 00:06:41,868
I love sales.

175
00:06:41,868 --> 00:06:43,236
I'll make you an offer.

176
00:06:43,236 --> 00:06:45,138
I'll give you
the $400,000...

177
00:06:45,138 --> 00:06:46,506
I thought you were saying you
were gonna clear the field.

178
00:06:46,506 --> 00:06:48,909
Excuse me.
I'm making an offer.
Clear the field is get out.

179
00:06:48,909 --> 00:06:50,911
Silence, please.

180
00:06:50,911 --> 00:06:53,013
I'll give you the $400,000
for 10%.

181
00:06:53,013 --> 00:06:56,116
No royalty? Wow.
No royalty. Straight-on.

182
00:06:56,116 --> 00:06:57,284
'Cause the only way
you make your dough back...
Greiner: Wow.

183
00:06:57,284 --> 00:06:59,352
He loves his royalties.
Herjavec: Anders, I love...

184
00:06:59,352 --> 00:07:02,122
Thank you for the offer.
Mm-hmm.
I love sales.

185
00:07:02,122 --> 00:07:05,125
You are absolutely living
the American dream

186
00:07:05,125 --> 00:07:07,294
and building a great business.

187
00:07:07,294 --> 00:07:11,698
4% just isn't exciting to me.
Yeah.

188
00:07:11,698 --> 00:07:12,265
I'm out.
Yeah.

189
00:07:12,265 --> 00:07:13,333
Congratulations.
Thank you. Thank you.

190
00:07:13,333 --> 00:07:17,070
So, I'm a bit familiar
in the "sleep" space.

191
00:07:17,070 --> 00:07:20,273
I did a deal with a company
called Hug Sleep with Mark.

192
00:07:20,273 --> 00:07:22,208
They're at $47 million
in sales.

193
00:07:22,208 --> 00:07:24,911
And we did do a trial
with Mayo Clinic

194
00:07:24,911 --> 00:07:27,180
that showed
that if you use the Hug Sleep,

195
00:07:27,180 --> 00:07:28,949
you actually do sleep better.

196
00:07:28,949 --> 00:07:30,383
We got results.
Yep.

197
00:07:30,383 --> 00:07:33,720
To me, the biggest thing
that actually gets a consumer

198
00:07:33,720 --> 00:07:35,221
to pay attention and buy

199
00:07:35,221 --> 00:07:38,224
is when you actually have those
trials and those statistics.

200
00:07:38,224 --> 00:07:41,361
For me, it's just too early.
You're great.

201
00:07:41,361 --> 00:07:43,964
I wish you the best of luck.
But I'm out.
Yeah. Thank you, Lori.

202
00:07:43,964 --> 00:07:45,899
Anders,
don't fall asleep at the switch.

203
00:07:45,899 --> 00:07:47,000
You have an offer.

204
00:07:47,000 --> 00:07:48,768
Lubetzky:
Wait a second.

205
00:07:51,871 --> 00:07:53,006
I'm gonna tell you a story

206
00:07:53,006 --> 00:07:54,407
that I don't think any
of the Sharks know.

207
00:07:54,407 --> 00:08:00,013
Um, when I was 12 years old,
I developed insomnia.

208
00:08:00,013 --> 00:08:03,183
And I think it had to do with
when my dad talked to me

209
00:08:03,183 --> 00:08:05,318
about what he went through
through the Holocaust.

210
00:08:05,318 --> 00:08:08,021
I could not put myself
to sleep.

211
00:08:08,021 --> 00:08:11,124
And then I accepted that
I was meant to have insomnia

212
00:08:11,124 --> 00:08:12,859
for the rest of my life.

213
00:08:12,859 --> 00:08:15,161
Only last year --
I'm now 56 --

214
00:08:15,161 --> 00:08:18,098
that I developed the ability
to get a full night's sleep.

215
00:08:18,098 --> 00:08:20,133
Yeah.
And it's completely
transformed my life.

216
00:08:20,133 --> 00:08:22,869
Greiner: Wow.
And there's a bunch
of things that I did

217
00:08:22,869 --> 00:08:25,372
that helped me
finally conquer it.

218
00:08:25,372 --> 00:08:27,207
I can already think
of hundreds of ways

219
00:08:27,207 --> 00:08:29,009
in which I can help you.
Mm-hmm.

220
00:08:29,009 --> 00:08:31,311
This has never happened
in "Shark Tank" history.

221
00:08:31,311 --> 00:08:35,148
I've --
This is my seventh season.
Mm.

222
00:08:35,148 --> 00:08:38,150
And Kevin signaled that he
would do this together with me,

223
00:08:38,150 --> 00:08:40,886
and he's very complementary
to me.

224
00:08:40,886 --> 00:08:42,255
So if you want, we will do...

225
00:08:42,255 --> 00:08:44,991
Yeah, we'd split it.
'Cause I like the space.

226
00:08:44,991 --> 00:08:46,326
I like you.

227
00:08:46,326 --> 00:08:48,161
We're pure investors
on this deal.
Yeah.

228
00:08:48,161 --> 00:08:50,230
If you're putting up $200,000,
how much equity?

229
00:08:50,230 --> 00:08:52,132
'Cause that's all it is,
an equity deal.

230
00:08:52,132 --> 00:08:54,034
I was gonna ask for more,
but then you came with that 10%.

231
00:08:54,034 --> 00:08:56,136
Well, no, but, listen,
If you feel --

232
00:08:56,136 --> 00:08:57,270
'Cause
two Sharks is worth more.
It is.

233
00:08:57,270 --> 00:09:00,006
Let's go for 15%
and split 7 1/2% each.

234
00:09:00,006 --> 00:09:02,308
That's too high.

235
00:09:02,308 --> 00:09:05,178
I would do 12%,
6% and 6%.

236
00:09:05,178 --> 00:09:08,314
[ Dramatic music plays ]

237
00:09:08,314 --> 00:09:10,183
How about 8%
for the two of you?

238
00:09:10,183 --> 00:09:11,317
Oh, that's not enough.

239
00:09:11,317 --> 00:09:12,452
Fawn, we haven't heard
from you either.

240
00:09:12,452 --> 00:09:18,058
Yeah. So I'm intimately familiar
with the problem.

241
00:09:18,058 --> 00:09:21,394
I would love for wives
all over the world

242
00:09:21,394 --> 00:09:25,131
to be able
to have a solution.

243
00:09:25,131 --> 00:09:26,399
So this is what I will say.

244
00:09:26,399 --> 00:09:29,269
I am going
to take this home.
Yep.

245
00:09:29,269 --> 00:09:31,271
I'm going to have
my husband use it

246
00:09:31,271 --> 00:09:33,907
for the next three months.
Yep.

247
00:09:33,907 --> 00:09:36,242
And if it works,

248
00:09:36,242 --> 00:09:40,213
I will put it all over
my social media for free.
Mm.

249
00:09:40,213 --> 00:09:43,049
But I think that they're
the better Sharks for you.

250
00:09:43,049 --> 00:09:44,384
I'm out.
Okay. Thank you.

251
00:09:44,384 --> 00:09:46,853
Anders,
what are you gonna do?

252
00:09:48,388 --> 00:09:50,323
I'll do it --
You know, and this is...

253
00:09:50,323 --> 00:09:53,293
I really value what
you guys can bring to the table.

254
00:09:53,293 --> 00:09:56,096
And I'll do it for 10%.

255
00:09:56,096 --> 00:09:58,932
You in?

256
00:09:58,932 --> 00:10:00,300
Are you in at 10%?

257
00:10:00,300 --> 00:10:03,837
[ Dramatic music plays ]

258
00:10:03,837 --> 00:10:04,871
Let's do it.

259
00:10:04,871 --> 00:10:05,805
Done.

260
00:10:05,805 --> 00:10:06,840
-Yay.
-Okay.

261
00:10:06,840 --> 00:10:08,041
There we go.

262
00:10:08,041 --> 00:10:09,042
The drama!

263
00:10:09,042 --> 00:10:10,310
[ Laughs ]

264
00:10:10,310 --> 00:10:11,411
Congratulations.
Thank you very much. Yeah.

265
00:10:11,411 --> 00:10:12,412
I'm very excited for you.
Yeah, thank you.

266
00:10:12,412 --> 00:10:13,446
Great presentation.
Yeah.

267
00:10:13,446 --> 00:10:15,148
[ Didgeridoo
playing sour notes ]

268
00:10:15,148 --> 00:10:17,016
[ Laughs ]

269
00:10:19,185 --> 00:10:20,653
Anders:
With Kevin's marketing expertise

270
00:10:20,653 --> 00:10:24,390
and Daniel really building up
a company and a strong brand

271
00:10:24,390 --> 00:10:27,227
and staying true to the mission,
it's gonna be amazing.

272
00:10:27,227 --> 00:10:29,462
So we're really excited to see
where this will take us

273
00:10:29,462 --> 00:10:32,132
and excited for the future
of helping more people

274
00:10:32,132 --> 00:10:33,466
on their airway health journeys.

275
00:10:33,466 --> 00:10:35,368
[ Amplified ]
What will happen now --

276
00:10:35,368 --> 00:10:39,405
Fawn will take it home,
give it to her husband,

277
00:10:39,405 --> 00:10:42,408
and if it works,
humanity will be saved.

278
00:10:42,408 --> 00:10:44,944
[ Weaver and Greiner laugh ]

279
00:10:44,944 --> 00:10:47,747
♪♪

280
00:10:52,886 --> 00:10:56,489
♪♪

281
00:10:56,489 --> 00:10:59,058
Narrator:
Next up is a version of beer

282
00:10:59,058 --> 00:11:01,995
made for an overlooked consumer.

283
00:11:01,995 --> 00:11:09,435
♪♪

284
00:11:09,435 --> 00:11:11,571
Hi, Sharks. I'm Caroline,

285
00:11:11,571 --> 00:11:15,408
founder of Beer Girl
from Laguna Beach, California.

286
00:11:15,408 --> 00:11:19,312
Today I am seeking $125,000

287
00:11:19,312 --> 00:11:22,382
in exchange
for 10% of my company.

288
00:11:22,382 --> 00:11:27,320
Let's be honest -- Most beer
has been made by men for men.

289
00:11:27,320 --> 00:11:29,255
For decades,
women in beer ads

290
00:11:29,255 --> 00:11:31,524
were merely bikini-clad extras.

291
00:11:31,524 --> 00:11:34,260
We weren't the customer.
We were the
scenery.

292
00:11:34,260 --> 00:11:36,162
While running
my family's brewery,

293
00:11:36,162 --> 00:11:38,298
I noticed time and again
women would come in,

294
00:11:38,298 --> 00:11:41,367
browse our beer lineup, and
then order a seltzer or cider.

295
00:11:41,367 --> 00:11:43,136
So I started asking why.

296
00:11:43,136 --> 00:11:45,171
And I kept hearing
the same thing --

297
00:11:45,171 --> 00:11:47,640
"Beer makes me feel too heavy,
too bloated,

298
00:11:47,640 --> 00:11:50,343
and it just doesn't feel
like it's made for me."

299
00:11:50,343 --> 00:11:53,279
So I teamed up with
our head brewer to change that.

300
00:11:53,279 --> 00:11:56,249
Introducing Beer Girl, a light,

301
00:11:56,249 --> 00:11:58,318
crisp, Mexican-style lager

302
00:11:58,318 --> 00:12:01,154
that's made from corn,
not wheat.

303
00:12:01,154 --> 00:12:03,089
It's gluten-reduced,

304
00:12:03,089 --> 00:12:04,224
contains zero sugar,

305
00:12:04,224 --> 00:12:06,092
and it has
a low alcohol content,

306
00:12:06,092 --> 00:12:09,128
and yes, even bikini-approved.

307
00:12:09,128 --> 00:12:10,463
So what do you say, Sharks?

308
00:12:10,463 --> 00:12:13,132
Are you ready
to grow the beer industry

309
00:12:13,132 --> 00:12:15,235
one cute can at a time?

310
00:12:15,235 --> 00:12:16,669
-[ Laughs ] Great job!
-Thank you.

311
00:12:16,669 --> 00:12:18,404
What do we have
in front of us?
Weaver: Great job.

312
00:12:18,404 --> 00:12:21,207
Foulk: In front of you
is our Beer Girl light lager.

313
00:12:21,207 --> 00:12:22,375
I'd love
for you to give it a try

314
00:12:22,375 --> 00:12:24,010
and let me know what you think.

315
00:12:24,010 --> 00:12:24,577
Oh, it's really good.

316
00:12:24,577 --> 00:12:26,346
You like it?
Really good. Yeah.

317
00:12:26,346 --> 00:12:27,347
Thank you.
I like it, too.

318
00:12:27,347 --> 00:12:28,548
Really?
Very good. Mm-hmm.

319
00:12:28,548 --> 00:12:30,383
Oh, my gosh. Thank you so much.

320
00:12:30,383 --> 00:12:33,219
And is this lower alcohol?
Is it...

321
00:12:33,219 --> 00:12:34,287
3.5%.

322
00:12:34,287 --> 00:12:35,655
What's the average beer?

323
00:12:35,655 --> 00:12:38,491
A light lager,
you'd be looking at around 4.2%.

324
00:12:38,491 --> 00:12:40,360
Lubetzky:
You said it's Mexican-style.

325
00:12:40,360 --> 00:12:42,328
All Mexican lagers are
corn-based,

326
00:12:42,328 --> 00:12:45,164
so naturally they're easier
on your digestive system,

327
00:12:45,164 --> 00:12:46,566
as opposed to wheat.

328
00:12:46,566 --> 00:12:48,568
Did you say you had
a family microbrewery?

329
00:12:48,568 --> 00:12:49,869
I mean,
where are you making this stuff?

330
00:12:49,869 --> 00:12:53,239
So my family has a brewery in
the Central Coast, California,

331
00:12:53,239 --> 00:12:54,474
called
Wagon Wheel Brewing Company,

332
00:12:54,474 --> 00:12:57,310
and that's where I had
the idea for Beer Girl.

333
00:12:57,310 --> 00:12:59,545
We started contract brewing
at my family brewery,

334
00:12:59,545 --> 00:13:01,648
but quickly hit capacity there.

335
00:13:01,648 --> 00:13:04,350
And now we're brewing
at a contract brewing facility

336
00:13:04,350 --> 00:13:05,985
in Southern California.

337
00:13:05,985 --> 00:13:07,320
Tell us about you.

338
00:13:07,320 --> 00:13:08,554
My background is
actually in music --

339
00:13:08,554 --> 00:13:10,323
singer, songwriter, performer.
Herjavec: Wow.

340
00:13:10,323 --> 00:13:12,492
I was an opening --
Yeah, an opening act

341
00:13:12,492 --> 00:13:14,494
for various R&B artists on tour.

342
00:13:14,494 --> 00:13:16,462
And when the pandemic hit,

343
00:13:16,462 --> 00:13:19,299
obviously entertainment industry
shut down.

344
00:13:19,299 --> 00:13:21,501
So I dove into business
with my family,

345
00:13:21,501 --> 00:13:23,269
and we built it
from the ground up.

346
00:13:23,269 --> 00:13:24,771
And, Caroline,
what are your sales today?

347
00:13:24,771 --> 00:13:28,474
In summer of 2023 is when
we launched the brand on draft.

348
00:13:28,474 --> 00:13:31,177
From summer of 2023
to summer of 2024,

349
00:13:31,177 --> 00:13:33,212
it was $140,000 in sales.

350
00:13:33,212 --> 00:13:34,614
And what about summer '24
to now?

351
00:13:34,614 --> 00:13:37,517
It's around that --
$140,000, $160,000.
Okay.

352
00:13:37,517 --> 00:13:40,386
We are now in talks with all
of the big distributors.

353
00:13:40,386 --> 00:13:42,388
What percentage
of beer drinkers are women?

354
00:13:42,388 --> 00:13:44,223
25%.
Okay.

355
00:13:44,223 --> 00:13:45,325
What will you do this year?

356
00:13:45,325 --> 00:13:47,460
With our retailer

357
00:13:47,460 --> 00:13:50,563
that's already authorized us
for the 150 doors in the fall,

358
00:13:50,563 --> 00:13:55,435
and I do believe I'm very close
to closing another 330 doors,

359
00:13:55,435 --> 00:13:58,304
we'll be at $1.1 million
by this time next year.

360
00:13:58,304 --> 00:14:00,540
I'm in two categories
of beverage.
Yeah.

361
00:14:00,540 --> 00:14:03,476
Wine, which I now sell
6 million bottles a year.

362
00:14:03,476 --> 00:14:06,145
Yeah.
And I've just launched
tequila.

363
00:14:06,145 --> 00:14:07,547
I looked at beer.

364
00:14:07,547 --> 00:14:09,582
The only thing interesting
about this is you,

365
00:14:09,582 --> 00:14:12,118
because the beer category...
-Not the category?

366
00:14:12,118 --> 00:14:13,486
...there is no...

367
00:14:13,486 --> 00:14:15,421
It's all marketing,
as you've figure it out.
Mm-hmm.

368
00:14:15,421 --> 00:14:18,458
Have you started to tell
this story about you on social?

369
00:14:18,458 --> 00:14:20,660
I have not invested anything
into social media.

370
00:14:20,660 --> 00:14:23,563
I've invested
into field marketing and events

371
00:14:23,563 --> 00:14:25,631
because I knew
to get the velocities up

372
00:14:25,631 --> 00:14:28,768
that I needed to get
the attention from distributors,

373
00:14:28,768 --> 00:14:32,638
I needed to be in store every
day demo'ing liquid to lips.

374
00:14:32,638 --> 00:14:34,240
So I've invested the capital...

375
00:14:34,240 --> 00:14:35,441
Liquid to lips.
Liquid to lips.

376
00:14:35,441 --> 00:14:36,609
Liquid to lips.

377
00:14:36,609 --> 00:14:37,710
And, Caroline...
L.T.L.

378
00:14:37,710 --> 00:14:39,212
...that's how Kind
became what it became --

379
00:14:39,212 --> 00:14:40,513
all field marketing.
Yeah.

380
00:14:40,513 --> 00:14:42,348
So what are
you selling this for?

381
00:14:42,348 --> 00:14:43,683
What does it cost you
to make it?

382
00:14:43,683 --> 00:14:45,752
It costs us $4.60
to make a six-pack.

383
00:14:45,752 --> 00:14:50,490
We sell in at $8.40
and the MSRP is $11.99.

384
00:14:50,490 --> 00:14:53,526
You're coming into
an industry that is jam-packed,

385
00:14:53,526 --> 00:14:56,496
and the only thing
that really will set you apart

386
00:14:56,496 --> 00:14:58,398
is great marketing...
Yeah.

387
00:14:58,398 --> 00:15:00,433
...which is --
I believe you have that here.

388
00:15:00,433 --> 00:15:01,768
I have watched this industry.

389
00:15:01,768 --> 00:15:04,470
You think
this is a bunch of Sharks?

390
00:15:04,470 --> 00:15:06,406
Yeah. Oh, yeah.

391
00:15:06,406 --> 00:15:08,274
The industry
you have chosen...
Yeah.

392
00:15:08,274 --> 00:15:10,543
...is a sea of Sharks.

393
00:15:10,543 --> 00:15:14,280
And so you're going to need
a road map for sure.

394
00:15:14,280 --> 00:15:15,648
Definitely.
One of the things

395
00:15:15,648 --> 00:15:18,317
that people didn't
really understand with,

396
00:15:18,317 --> 00:15:19,519
how did Uncle Nearest grow?

397
00:15:19,519 --> 00:15:20,853
We're not supposed to be here.

398
00:15:20,853 --> 00:15:22,822
You come into this industry,
you have two options --

399
00:15:22,822 --> 00:15:26,626
You either fail, or if
by some strange stroke of luck,

400
00:15:26,626 --> 00:15:28,628
you're able to succeed
a little bit,

401
00:15:28,628 --> 00:15:31,330
then you are forced to sell.

402
00:15:31,330 --> 00:15:32,665
And so I came
into the industry

403
00:15:32,665 --> 00:15:35,501
and said, "Mm...I'm
gonna create a third option.

404
00:15:35,501 --> 00:15:38,538
But I can't do that
if I follow the model."

405
00:15:38,538 --> 00:15:40,506
Yeah.
And so my distributor network,

406
00:15:40,506 --> 00:15:42,608
I went into all 50 states
in 19 months...

407
00:15:42,608 --> 00:15:45,344
That's amazing.
...with 17 distributors.

408
00:15:45,344 --> 00:15:46,512
-Wow.
-I have the best distributors...

409
00:15:46,512 --> 00:15:48,548
Wow.
...in every single state.

410
00:15:48,548 --> 00:15:51,317
Beer category is
in so much trouble...
Mm-hmm.

411
00:15:51,317 --> 00:15:52,618
...that every single one

412
00:15:52,618 --> 00:15:55,421
is looking for
the next thing.

413
00:15:55,421 --> 00:15:57,490
Where I'm not sure here is,

414
00:15:57,490 --> 00:15:59,659
is what is it
beyond the marketing?

415
00:15:59,659 --> 00:16:01,627
I don't think
I've heard that yet.

416
00:16:01,627 --> 00:16:03,596
It's that it's gluten-reduced.

417
00:16:03,596 --> 00:16:05,798
I will tell you.
So I have Lyme disease.

418
00:16:05,798 --> 00:16:08,901
I struggle with sugar.
I think it's the low sugar

419
00:16:08,901 --> 00:16:10,937
and then it being gluten-reduced
and corn-based.

420
00:16:10,937 --> 00:16:13,739
Herjavec: Caroline, look,
I think it's a tough industry.

421
00:16:13,739 --> 00:16:17,610
I'm getting a master class
in distribution from Fawn.
Yes.

422
00:16:17,610 --> 00:16:19,579
It's not for me. I'm out.

423
00:16:19,579 --> 00:16:22,515
Robert, can I say
that your story has been one

424
00:16:22,515 --> 00:16:25,017
of the biggest inspirations
for me and my family?

425
00:16:25,017 --> 00:16:28,488
My grandmother was a refugee
from former Yugoslavia,

426
00:16:28,488 --> 00:16:31,724
now Croatia,
walked on foot to Austria,

427
00:16:31,724 --> 00:16:34,460
immigrated to the U.S.
at 19 years old

428
00:16:34,460 --> 00:16:35,695
with nothing in her pocket.

429
00:16:35,695 --> 00:16:38,564
And now I'm standing here
on "Shark Tank" in front of you,

430
00:16:38,564 --> 00:16:40,566
which is a definition
of the American dream.

431
00:16:40,566 --> 00:16:42,502
And that's why, for any of you,

432
00:16:42,502 --> 00:16:45,538
I will work so hard,
because the opportunities

433
00:16:45,538 --> 00:16:48,374
that I am given
are a responsibility...

434
00:16:48,374 --> 00:16:49,509
Yeah.
...not just an opportunity.

435
00:16:49,509 --> 00:16:50,810
You can see that.
Weaver: We can see it.

436
00:16:50,810 --> 00:16:52,478
I mean, it exudes from you.
We can see it.

437
00:16:52,478 --> 00:16:53,679
Love it.
Lubetzky:
I've been trying so hard

438
00:16:53,679 --> 00:16:55,815
because I really like you
to get into this.
Yeah.

439
00:16:55,815 --> 00:16:58,818
But every time you speak and
every time that Fawn speaks,

440
00:16:58,818 --> 00:17:02,688
I realize how little I know
and the gap is too wide

441
00:17:02,688 --> 00:17:04,390
for me to get there.

442
00:17:04,390 --> 00:17:05,825
So for those reasons,
I'm out.

443
00:17:05,825 --> 00:17:09,295
Thank you so much
and I admire you so much.

444
00:17:09,862 --> 00:17:12,632
I think that you have
something special here,

445
00:17:12,632 --> 00:17:14,666
so I'm gonna make you
an offer.

446
00:17:14,666 --> 00:17:16,569
[ Dramatic music plays ]

447
00:17:16,569 --> 00:17:19,171
But my offer's
going to be Sharky.

448
00:17:19,171 --> 00:17:25,144
♪♪

449
00:17:32,485 --> 00:17:33,853
Narrator: Two Sharks are out,

450
00:17:33,853 --> 00:17:35,888
but Fawn is interested
in Caroline's

451
00:17:35,888 --> 00:17:38,791
low-calorie beer brand,
Beer Girl.

452
00:17:38,791 --> 00:17:42,762
I will give you
the $125,000,

453
00:17:42,762 --> 00:17:44,697
but I want
20% of the company.

454
00:17:44,697 --> 00:17:47,633
[ Dramatic music plays ]

455
00:17:47,633 --> 00:17:49,335
¡Ay!

456
00:17:51,537 --> 00:17:52,672
Can I tell you something, Fawn?

457
00:17:52,672 --> 00:17:53,773
Absolutely.

458
00:17:53,773 --> 00:17:55,908
You are one
of my biggest inspirations

459
00:17:55,908 --> 00:17:58,444
and the rea-- I'm gonna cry.
Greiner: Oh.

460
00:17:58,444 --> 00:17:59,879
And the reason
why you are

461
00:17:59,879 --> 00:18:02,848
is because of how you live out
your faith every day.

462
00:18:02,848 --> 00:18:06,452
And I want to work with you
so badly.

463
00:18:06,452 --> 00:18:09,689
I have to make a counter.
Right?

464
00:18:09,689 --> 00:18:12,858
And so what I really need is
funding for my purchase orders.

465
00:18:12,858 --> 00:18:18,531
Would you do $125,000.
a $500,000 line of credit

466
00:18:18,531 --> 00:18:20,666
that I would pay interest on,

467
00:18:20,666 --> 00:18:22,602
and I'll do it for 20%?

468
00:18:22,602 --> 00:18:25,504
[ Dramatic music plays ]

469
00:18:26,639 --> 00:18:29,909
I'm good with the offer
that I've given,

470
00:18:29,909 --> 00:18:32,578
but getting your P.O.s
financed

471
00:18:32,578 --> 00:18:33,913
is not a very difficult thing.

472
00:18:33,913 --> 00:18:35,581
You're self-distributing.
Correct?

473
00:18:35,581 --> 00:18:36,682
Yeah.
As your back end?

474
00:18:36,682 --> 00:18:38,851
I'm doing
all the back and the logistics.

475
00:18:38,851 --> 00:18:40,853
My husband is running that

476
00:18:40,853 --> 00:18:43,522
and we're doing deliveries
at 3:00, 4:00 in the morning.

477
00:18:43,522 --> 00:18:44,857
And we have
our own delivery truck

478
00:18:44,857 --> 00:18:46,993
and two part-time
delivery drivers.
Wow.

479
00:18:46,993 --> 00:18:48,728
-That's how I started.
-Wow. You are a winner.

480
00:18:48,728 --> 00:18:50,563
How much did
you guys put in yourselves?

481
00:18:50,563 --> 00:18:51,764
$200,000.

482
00:18:51,764 --> 00:18:52,932
Oh, you're all in.

483
00:18:52,932 --> 00:18:54,867
The offer
I have on the table

484
00:18:54,867 --> 00:18:56,102
is the only offer
that I'm going to give.

485
00:18:56,102 --> 00:18:57,970
I don't think anybody else
is gonna give you an offer.

486
00:18:57,970 --> 00:19:00,773
And I'll tell you why.
It's difficult, this space.

487
00:19:00,773 --> 00:19:02,808
And you've got
a lifeline here.

488
00:19:02,808 --> 00:19:04,010
-It's impossible.
-She is the perfect partner.

489
00:19:04,010 --> 00:19:05,711
This is an impossible space.
I mean,

490
00:19:05,711 --> 00:19:08,414
some deals are meant to be.
This one is.

491
00:19:08,414 --> 00:19:09,548
I'm out.

492
00:19:10,549 --> 00:19:13,953
I am the one person
who can make sure

493
00:19:13,953 --> 00:19:16,856
that your brand is seen
in a space...
Yeah.

494
00:19:16,856 --> 00:19:18,791
...that is so crowded...
Yeah.

495
00:19:18,791 --> 00:19:22,028
...that you will never
get out of Southern California.

496
00:19:22,028 --> 00:19:24,797
I feel this will be
a surefire winner.

497
00:19:24,797 --> 00:19:26,165
I would love to be a part
of the journey

498
00:19:26,165 --> 00:19:27,833
if you would like to have me and
if she would like to have me.

499
00:19:27,833 --> 00:19:31,704
On the same offer,
$125,000 for 20%.

500
00:19:31,704 --> 00:19:33,005
What do you think?

501
00:19:33,005 --> 00:19:34,707
I think with
this particular offer,

502
00:19:34,707 --> 00:19:36,909
I can definitely go at it
alone.

503
00:19:36,909 --> 00:19:38,978
And I don't need Lori,
but I...

504
00:19:38,978 --> 00:19:40,913
You know what? I'm gonna let her
go at it alone.

505
00:19:40,913 --> 00:19:42,915
She doesn't really need
a partner.

506
00:19:42,915 --> 00:19:44,650
She's a powerhouse.

507
00:19:45,751 --> 00:19:47,687
You have an offer.
What do you want to do?

508
00:19:47,687 --> 00:19:49,755
[ Dramatic music plays ]

509
00:19:49,755 --> 00:19:55,561
♪♪

510
00:19:55,561 --> 00:19:57,029
Fawn, it would literally --

511
00:19:57,029 --> 00:19:59,865
I would be so humbled
to accept your offer.

512
00:19:59,865 --> 00:20:01,834
-Oh, yay.
-I am excited.

513
00:20:01,834 --> 00:20:03,002
[ Applause ]

514
00:20:03,002 --> 00:20:06,005
Foulk: Yay!
Oh, you are gonna be
a superstar

515
00:20:06,005 --> 00:20:07,873
in this industry.
Oh, my...

516
00:20:07,873 --> 00:20:11,610
There are so few women
in the beer industry.

517
00:20:11,610 --> 00:20:13,045
They are going
to love you.

518
00:20:13,045 --> 00:20:14,814
Thank you.
They're going to love you.

519
00:20:14,814 --> 00:20:16,482
Herjavec:
They are gonna love her.
Thank you so much.

520
00:20:16,482 --> 00:20:17,717
Now it's off to the races.

521
00:20:17,717 --> 00:20:19,518
Thank you.

522
00:20:19,518 --> 00:20:21,554
Whoo! [ Chuckles ]

523
00:20:21,554 --> 00:20:22,555
[ Sniffles ]

524
00:20:22,555 --> 00:20:24,757
I'm really emotional.

525
00:20:24,757 --> 00:20:25,891
Whoo!

526
00:20:25,891 --> 00:20:27,960
My grandmother, I'm just, like,

527
00:20:27,960 --> 00:20:29,662
thinking about what
she went through

528
00:20:29,662 --> 00:20:31,163
to be able to let me stand here.

529
00:20:31,163 --> 00:20:35,568
Like, I'm just --
I'm proud of myself for doing it

530
00:20:35,568 --> 00:20:37,103
and for not being afraid...

531
00:20:37,103 --> 00:20:39,972
and for doing it
even when I am afraid.

532
00:20:39,972 --> 00:20:42,808
The beer companies are
in so much trouble

533
00:20:42,808 --> 00:20:46,011
that they have a need for
something that can stand out,

534
00:20:46,011 --> 00:20:48,681
and this can
actually stand out.

535
00:20:48,681 --> 00:20:50,616
Yeah, Beer Girl. It's cool.

536
00:20:50,616 --> 00:20:52,818
Narrator: In Season 15,

537
00:20:52,818 --> 00:20:55,888
Coco and Mafe Cabezas
made a deal with Daniel Lubetzky

538
00:20:55,888 --> 00:20:58,190
for their frozen arepas company,
Toast-It.

539
00:20:58,190 --> 00:21:01,093
Our brand of better-for-you
Latin American food staples

540
00:21:01,093 --> 00:21:03,829
that are ready to eat
in under 10 minutes.

541
00:21:03,829 --> 00:21:05,965
Narrator: Let's see
what they're up to now.

542
00:21:05,965 --> 00:21:08,701
Mafe: The night after our
"Shark Tank" episode aired,

543
00:21:08,701 --> 00:21:10,136
my first daughter was born,

544
00:21:10,136 --> 00:21:13,072
so you can imagine
how crazy the time was.

545
00:21:13,072 --> 00:21:16,909
The demand in stores was so high
that we couldn't keep up,

546
00:21:16,909 --> 00:21:19,111
so we went
from 1 to 2 co-packers

547
00:21:19,111 --> 00:21:23,182
and from producing 4,600 units
per month to 24,000.

548
00:21:23,182 --> 00:21:25,785
Coco: We've nearly tripled
our distribution --

549
00:21:25,785 --> 00:21:28,854
from 600 stores
to over 1,500 stores.

550
00:21:28,854 --> 00:21:31,056
We're now available
at Whole Foods, Milam's,

551
00:21:31,056 --> 00:21:34,226
Palm Market, Key Food, and
many other amazing retailers.

552
00:21:34,226 --> 00:21:37,263
The year before "Shark Tank,"
we had $200,000 in sales.

553
00:21:37,263 --> 00:21:40,065
It's been two years since
closing our deal with Daniel,

554
00:21:40,065 --> 00:21:43,936
and we've made $2.3 million
in sales.

555
00:21:43,936 --> 00:21:45,738
Our velocities have
actually increased

556
00:21:45,738 --> 00:21:47,173
since we did the rebrand.

557
00:21:47,173 --> 00:21:49,041
Coco: Once we started working
with Daniel,

558
00:21:49,041 --> 00:21:51,076
he mentioned
that he loved our product,

559
00:21:51,076 --> 00:21:53,712
but he felt our brand
could be much better.

560
00:21:53,712 --> 00:21:55,915
So we decided to rebrand
to Kiosco.

561
00:21:55,915 --> 00:21:58,851
Daniel helped us from picking
the name, to the branding,

562
00:21:58,851 --> 00:22:00,920
and to the messaging
that we wanted to convey.

563
00:22:00,920 --> 00:22:03,222
We're connected to the name
Kiosco because it's a place

564
00:22:03,222 --> 00:22:05,758
where we grew up eating
when we were young.

565
00:22:05,758 --> 00:22:07,193
Lubetzky: Kiosco is a space

566
00:22:07,193 --> 00:22:09,628
where the Hispanic community
gathers to eat snacks,

567
00:22:09,628 --> 00:22:10,930
and Mafe and Coco

568
00:22:10,930 --> 00:22:12,932
chose Kiosco
because they realized

569
00:22:12,932 --> 00:22:17,136
that the shared value of the
product was Hispanic baked goods

570
00:22:17,136 --> 00:22:19,004
and Toast-It
was not conveying it.

571
00:22:19,004 --> 00:22:20,840
And they also wanted
to go beyond products

572
00:22:20,840 --> 00:22:22,341
that were solely toasted.

573
00:22:22,341 --> 00:22:26,045
We're so excited to launch a
completely new line of products

574
00:22:26,045 --> 00:22:27,913
focused on tres leches.

575
00:22:27,913 --> 00:22:30,082
Tres leches is
a traditional Latin dessert

576
00:22:30,082 --> 00:22:32,985
composed of a vanilla cake
soaked in three milks

577
00:22:32,985 --> 00:22:34,920
and topped with whipped cream.

578
00:22:34,920 --> 00:22:37,923
Mafe: Today, we've invited
our friends, family to join us

579
00:22:37,923 --> 00:22:40,192
in this celebration
to launch our new products

580
00:22:40,192 --> 00:22:42,094
and have a taste
for themselves.

581
00:22:42,094 --> 00:22:44,063
This product is literally
part of who we are.

582
00:22:44,063 --> 00:22:46,665
They remind us of home,
of our family,

583
00:22:46,665 --> 00:22:48,067
of our childhood,

584
00:22:48,067 --> 00:22:50,035
and we know many of you
know that feeling, too.

585
00:22:50,035 --> 00:22:51,971
Lubetzky:
When you think about it,

586
00:22:51,971 --> 00:22:53,873
it's so hard to immigrate
from another country,

587
00:22:53,873 --> 00:22:55,241
come to a new culture,

588
00:22:55,241 --> 00:22:57,243
let alone give birth
to a company,

589
00:22:57,243 --> 00:23:01,113
and Mafe and Coco demonstrate
that the American dream is alive

590
00:23:01,113 --> 00:23:03,015
and well,
and if you work hard enough,

591
00:23:03,015 --> 00:23:04,984
you can actually build
something incredible.

592
00:23:04,984 --> 00:23:06,986
What I would say
for entrepreneurs

593
00:23:06,986 --> 00:23:10,055
and for immigrants in the U.S.
is, you can bring your culture

594
00:23:10,055 --> 00:23:11,957
and be part
of a new business.

595
00:23:11,957 --> 00:23:14,760
You can share it with people.
Knock on doors,

596
00:23:14,760 --> 00:23:16,028
apply to "Shark Tank,"

597
00:23:16,028 --> 00:23:17,229
'cause we never thought
we were gonna get in

598
00:23:17,229 --> 00:23:19,265
and we did.
Ask people for help

599
00:23:19,265 --> 00:23:22,568
and it can actually become
a business you're very proud of.

600
00:23:22,568 --> 00:23:26,772
♪♪

601
00:23:34,113 --> 00:23:37,616
[ Dance music plays ]

602
00:23:37,616 --> 00:23:45,557
♪♪

603
00:23:45,557 --> 00:23:50,462
♪♪

604
00:23:50,462 --> 00:23:54,767
Hey, Sharks. I'm Lauryn Menard
from San Francisco, California,

605
00:23:54,767 --> 00:23:57,102
and I'm here seeking $250,000

606
00:23:57,102 --> 00:23:59,905
in exchange for 5%
of my company, GOB.

607
00:23:59,905 --> 00:24:01,240
Wow.
It's a big one.

608
00:24:01,240 --> 00:24:02,975
So, are anyone's
ears ringing?

609
00:24:02,975 --> 00:24:05,010
I mean, I kind of hope so,
personally,

610
00:24:05,010 --> 00:24:06,946
because that means
that they're working, right?

611
00:24:06,946 --> 00:24:09,782
But that's what
a live concert sounds like.

612
00:24:09,782 --> 00:24:11,317
Add on a snoring partner,

613
00:24:11,317 --> 00:24:13,452
a toddler that's screaming
at 3:00 in the morning.

614
00:24:13,452 --> 00:24:16,355
Or maybe you just live
in a city that doesn't shut up.

615
00:24:16,355 --> 00:24:20,693
What's the usual solution
for any of these scenarios?

616
00:24:20,693 --> 00:24:22,127
Earplugs, obviously.

617
00:24:22,127 --> 00:24:25,297
But here's the real
noise pollution.

618
00:24:25,297 --> 00:24:30,469
The world produces 40 billion
of these every single year,

619
00:24:30,469 --> 00:24:34,206
and nearly all of them
are made out of polyurethane,

620
00:24:34,206 --> 00:24:36,909
which is a fossil fuel
based plastic.

621
00:24:36,909 --> 00:24:39,445
So they're single-use
toxic chemicals.

622
00:24:39,445 --> 00:24:42,381
It's like shoving oil
into your ears, to be honest.

623
00:24:42,381 --> 00:24:46,118
And they take
over 500 years to break down.

624
00:24:46,118 --> 00:24:49,888
So, what do you think
the solution to this problem is?

625
00:24:49,888 --> 00:24:51,724
Well, how about...

626
00:24:51,724 --> 00:24:53,692
mushrooms?

627
00:24:53,692 --> 00:24:55,160
[ Laughter ]

628
00:24:55,160 --> 00:24:56,395
So...
What?

629
00:24:56,395 --> 00:25:01,133
GOB makes the world's
first 100% bio-based earplugs

630
00:25:01,133 --> 00:25:04,236
that are crafted entirely out
of mycelium foam,

631
00:25:04,236 --> 00:25:05,971
which, for those who don't know,

632
00:25:05,971 --> 00:25:07,406
that's the root structure
of mushroom.

633
00:25:07,406 --> 00:25:10,242
They are completely
naturally sound dampening,

634
00:25:10,242 --> 00:25:14,213
extremely comfortable,
hypoallergenic,

635
00:25:14,213 --> 00:25:16,081
and home compostable.

636
00:25:16,081 --> 00:25:17,449
So when you're done with them,

637
00:25:17,449 --> 00:25:20,052
they disappear forever,
just as they should.

638
00:25:20,052 --> 00:25:24,089
So, whether you're at
a music festival, on a job site,

639
00:25:24,089 --> 00:25:27,059
or you're hiding from
that screaming toddler of yours,

640
00:25:27,059 --> 00:25:28,360
we got you.

641
00:25:28,360 --> 00:25:30,295
So, Sharks, who's ready
to cut through the noise

642
00:25:30,295 --> 00:25:32,331
and plug into the future
with GOB?

643
00:25:32,331 --> 00:25:34,166
How interesting.
Herjavec: Wow.

644
00:25:34,166 --> 00:25:36,468
So, you simply place them
into your ear canal

645
00:25:36,468 --> 00:25:38,537
and you just push them in,
and then that's it.

646
00:25:38,537 --> 00:25:41,040
Lubetzky: When I put stuff
in my ears like earplugs,

647
00:25:41,040 --> 00:25:43,108
it's deeply
uncomfortable.

648
00:25:43,108 --> 00:25:45,044
Yes.
This is less so.

649
00:25:45,044 --> 00:25:48,280
This feels
almost enjoyable.

650
00:25:48,280 --> 00:25:50,082
[ Laughs ]
I love that.

651
00:25:50,082 --> 00:25:52,017
That's very weird.
Weaver: That is weird.

652
00:25:52,017 --> 00:25:53,085
[ Laughter ]

653
00:25:53,085 --> 00:25:54,887
Okay, so how
are these rated?

654
00:25:54,887 --> 00:25:56,255
So, a normal earplug

655
00:25:56,255 --> 00:25:59,391
ranges everywhere between
10 and 30 decibels.

656
00:25:59,391 --> 00:26:03,162
And ours is at 20 naturally.
Now, I can still hear you.

657
00:26:03,162 --> 00:26:05,964
Weaver: Yeah, I can still
hear you very, very well.

658
00:26:05,964 --> 00:26:07,199
Yes, yes, yes.

659
00:26:07,199 --> 00:26:08,367
I have a lot of experience
with earplugs

660
00:26:08,367 --> 00:26:10,302
in that I have
a snoring husband.
Yes.

661
00:26:10,302 --> 00:26:13,038
So I've been wearing them
every night for almost 22 years.

662
00:26:13,038 --> 00:26:14,239
Okay.
Herjavec: Wow.

663
00:26:14,239 --> 00:26:15,441
And if I had them on
and you were talking,

664
00:26:15,441 --> 00:26:17,209
I wouldn't hear you.
Mm-hmm. Right.

665
00:26:17,209 --> 00:26:19,878
But with these,
I can hear you.

666
00:26:19,878 --> 00:26:20,546
Yes.

667
00:26:20,546 --> 00:26:24,883
But an earplug should
really have strong efficacy.

668
00:26:24,883 --> 00:26:26,251
With normal ear plugs,

669
00:26:26,251 --> 00:26:28,187
whether they're
polyurethane foam, silicones,

670
00:26:28,187 --> 00:26:30,089
things like that,

671
00:26:30,089 --> 00:26:32,424
it actually knocks
down the top frequencies,

672
00:26:32,424 --> 00:26:34,493
which is why
music sounds bad.

673
00:26:34,493 --> 00:26:36,495
It's why,
like, everything sounds muffled.

674
00:26:36,495 --> 00:26:40,032
But with our product, it's
not full, full cancelation,

675
00:26:40,032 --> 00:26:42,434
but it's an improvement
of sound.

676
00:26:42,434 --> 00:26:45,337
How did you wake up one day
and look at a mushroom

677
00:26:45,337 --> 00:26:48,540
and say, "I got it --
earplugs"?

678
00:26:48,540 --> 00:26:54,079
So, on top of my mom losing
her hearing five or so years ago

679
00:26:54,079 --> 00:26:55,514
and watching her decline...
Oh.

680
00:26:55,514 --> 00:26:58,283
...I started thinking
about protecting my own hearing.

681
00:26:58,283 --> 00:27:01,353
Especially because
my fiancé is in a hardcore band.

682
00:27:01,353 --> 00:27:03,388
Oh, my gosh.
So I am in loud
spaces all the time.

683
00:27:03,388 --> 00:27:06,291
Okay, okay.
So I was at a spin class.

684
00:27:06,291 --> 00:27:10,095
They handed me this jug of
the polyurethane foam earplugs.

685
00:27:10,095 --> 00:27:11,463
There's something
that happened in that moment

686
00:27:11,463 --> 00:27:14,266
where I was just like,
oh, these are bad.

687
00:27:14,266 --> 00:27:16,135
But how mushrooms?

688
00:27:16,135 --> 00:27:18,270
We spent eight months
looking for a material

689
00:27:18,270 --> 00:27:20,272
that could actually solve
this problem.

690
00:27:20,272 --> 00:27:22,374
Our partners,
they're called Ecovative.

691
00:27:22,374 --> 00:27:24,476
They're mycelium gurus.

692
00:27:24,476 --> 00:27:27,346
They contact me and said,
you're the first person

693
00:27:27,346 --> 00:27:29,915
we're letting know
about this material.

694
00:27:29,915 --> 00:27:31,183
Try it.

695
00:27:31,183 --> 00:27:33,118
Okay. What have you sold?
What are your sales?

696
00:27:33,118 --> 00:27:34,553
How much does it cost you
to make it?

697
00:27:34,553 --> 00:27:36,455
We only launched
about two months ago,

698
00:27:36,455 --> 00:27:39,057
but we've done 40K in sales
organically,

699
00:27:39,057 --> 00:27:40,325
directly from our web site.

700
00:27:40,325 --> 00:27:41,460
-Okay.
-40,000.

701
00:27:41,460 --> 00:27:43,328
Menard: $40,000 in sales,
however --

702
00:27:43,328 --> 00:27:45,130
And you have
a $5 million valuation?

703
00:27:45,130 --> 00:27:46,298
Hold on one second.
Let me get there.

704
00:27:46,298 --> 00:27:47,566
Okay.
I'll get there.

705
00:27:47,566 --> 00:27:49,401
So, the reason
why our valuation is so high,

706
00:27:49,401 --> 00:27:51,303
and this is actually half
of the valuation

707
00:27:51,303 --> 00:27:53,372
that I'm raising
venture capital at right now,

708
00:27:53,372 --> 00:27:56,475
is because we are ahead
of schedule

709
00:27:56,475 --> 00:27:59,178
with a live entertainment
company,

710
00:27:59,178 --> 00:28:01,213
one of the largest in the world,

711
00:28:01,213 --> 00:28:02,714
getting these into all
of their venues.

712
00:28:02,714 --> 00:28:06,552
So, we will be the exclusive
hearing protection on site.

713
00:28:06,552 --> 00:28:10,389
And if we were to penetrate
just 5% of the audience,

714
00:28:10,389 --> 00:28:13,058
we would be at $15 million
in revenue per year.

715
00:28:13,058 --> 00:28:15,127
15? One-five?
Per year.

716
00:28:15,127 --> 00:28:16,328
What are your COGS
on this?

717
00:28:16,328 --> 00:28:17,596
So COGS are great.
Okay.

718
00:28:17,596 --> 00:28:19,598
It's a very hard margin
business.
Okay.

719
00:28:19,598 --> 00:28:24,336
Right now we are at about
under $0.10 per plug to make.

720
00:28:24,336 --> 00:28:26,371
What do you sell this pack for?
There's four.

721
00:28:26,371 --> 00:28:29,374
So that one, that's our B2B
pack that you'll get at venues.

722
00:28:29,374 --> 00:28:31,410
It's an option there.
That's $5.

723
00:28:31,410 --> 00:28:33,445
And your cost on this
is how much?

724
00:28:33,445 --> 00:28:35,314
That's about a dollar.

725
00:28:35,314 --> 00:28:36,515
What do the ordinary
foam ones cost?

726
00:28:36,515 --> 00:28:38,317
The ones
that people use now.

727
00:28:38,317 --> 00:28:39,551
So because they're made of
a byproduct

728
00:28:39,551 --> 00:28:41,386
from the fossil fuel
industry,

729
00:28:41,386 --> 00:28:43,422
they're, you know,
pennies to produce.

730
00:28:43,422 --> 00:28:45,691
I have one issue that I
want to point out to you.

731
00:28:45,691 --> 00:28:48,660
Before I started Kind, I had
a company called PeaceWorks,

732
00:28:48,660 --> 00:28:51,363
and it brought together
Israelis, Palestinians,

733
00:28:51,363 --> 00:28:53,265
Jordanians,
Egyptians, Turks

734
00:28:53,265 --> 00:28:55,300
to work through business
and make peace,

735
00:28:55,300 --> 00:28:58,170
and now are so enamored
with my mission

736
00:28:58,170 --> 00:28:59,571
that all I talked
about was

737
00:28:59,571 --> 00:29:01,440
how important it was
to bring people together.

738
00:29:01,440 --> 00:29:03,375
And the minute
that I pivoted

739
00:29:03,375 --> 00:29:05,477
and I started focusing
on the product's features,

740
00:29:05,477 --> 00:29:07,179
I started doing better.

741
00:29:07,179 --> 00:29:08,614
And then, I had
the idea for Kind

742
00:29:08,614 --> 00:29:11,416
by focusing on the benefits
of Kind being delicious

743
00:29:11,416 --> 00:29:12,651
and nutritious,

744
00:29:12,651 --> 00:29:14,553
rather than talking about how
we wanted to foster kindness.

745
00:29:14,553 --> 00:29:16,455
And that made
all the difference.

746
00:29:16,455 --> 00:29:19,224
In your case, you're
very mission oriented,

747
00:29:19,224 --> 00:29:20,559
but there's still
a lot of work

748
00:29:20,559 --> 00:29:22,628
for you to develop
that hero product.

749
00:29:22,628 --> 00:29:24,529
Yeah.
And, so, for those reasons,
I'm out.

750
00:29:24,529 --> 00:29:26,565
Okay.
I'm disappointed in that,

751
00:29:26,565 --> 00:29:28,333
but I respect that.
Thank you.

752
00:29:28,333 --> 00:29:30,335
I really applaud
the mission.

753
00:29:30,335 --> 00:29:33,338
However, I think
you're going to struggle.

754
00:29:33,338 --> 00:29:34,706
This is one of
those products,

755
00:29:34,706 --> 00:29:38,377
when they're at a concert and
it costs pennies versus dollars,

756
00:29:38,377 --> 00:29:40,279
they're going to buy
the pennies one.

757
00:29:40,279 --> 00:29:44,149
So I -- I struggle
with the concept.

758
00:29:44,149 --> 00:29:45,550
It's not for me.
I'm out.

759
00:29:45,550 --> 00:29:48,387
I respect that, but I do
want to address that note.

760
00:29:48,387 --> 00:29:51,223
People care a lot about
what they put on their bodies

761
00:29:51,223 --> 00:29:52,591
and in their bodies.

762
00:29:52,591 --> 00:29:55,294
If it is comfortable
and performs well,

763
00:29:55,294 --> 00:29:56,428
people will buy it.

764
00:29:56,428 --> 00:29:58,664
Okay, so I want
to jump in.

765
00:29:58,664 --> 00:30:02,167
I think there's a big
market you're missing

766
00:30:02,167 --> 00:30:03,769
that really wants
no noise.

767
00:30:03,769 --> 00:30:06,571
They would like the
sustainability and the mission,

768
00:30:06,571 --> 00:30:09,541
but the part that you have right
now I don't think is big enough.

769
00:30:09,541 --> 00:30:12,611
I think it's great that you're
going on the path that you are,

770
00:30:12,611 --> 00:30:14,479
but the product's
not for me.

771
00:30:14,479 --> 00:30:16,515
I'm sorry. I'm out.
Okay, I respect that.

772
00:30:16,515 --> 00:30:18,617
O'Leary: I don't think
you're worth 5 million.

773
00:30:18,617 --> 00:30:21,386
I don't want to get into
a fight about it,

774
00:30:21,386 --> 00:30:23,355
because having been
on "Shark Tank" 17 years,

775
00:30:23,355 --> 00:30:25,223
I've seen every
movie twice now,

776
00:30:25,223 --> 00:30:26,591
and I hate the movies

777
00:30:26,591 --> 00:30:29,528
where there's already
a huge market established

778
00:30:29,528 --> 00:30:32,331
with a really
inexpensive option.

779
00:30:32,331 --> 00:30:34,499
I'm choking on
the 5 million valuation.

780
00:30:34,499 --> 00:30:36,335
I mean, look,

781
00:30:36,335 --> 00:30:38,403
that often is the problem
in the Shark Tank,

782
00:30:38,403 --> 00:30:41,540
the optimism you have versus
the reality of the market,

783
00:30:41,540 --> 00:30:43,408
which will come
and eat you alive later,

784
00:30:43,408 --> 00:30:44,643
and you'll come back
and say --

785
00:30:44,643 --> 00:30:45,877
I don't think
that's going to happen,

786
00:30:45,877 --> 00:30:47,612
respectfully, but thank you.
I hope it doesn't for you,

787
00:30:47,612 --> 00:30:49,448
but imagine how many
people have stood

788
00:30:49,448 --> 00:30:51,450
where you are with
that kind of optimism --

789
00:30:51,450 --> 00:30:52,718
and you should have it --

790
00:30:52,718 --> 00:30:54,786
until the real world
bites your ass.

791
00:30:54,786 --> 00:30:57,656
And that's coming to a theater
near you very shortly.

792
00:30:57,656 --> 00:30:59,491
So --
I really don't think so.

793
00:30:59,491 --> 00:31:00,692
Let me just get --
Listen, listen --

794
00:31:00,692 --> 00:31:03,328
So this B2B deal
is not our only vertical.

795
00:31:03,328 --> 00:31:04,696
We're going retail, as well.
So...

796
00:31:04,696 --> 00:31:06,498
Besides, you will be
the competition

797
00:31:06,498 --> 00:31:07,699
at a significantly
lower price.

798
00:31:07,699 --> 00:31:10,469
Look, I loved it.
No chance in hell I'm investing.

799
00:31:10,469 --> 00:31:12,037
I'm out.

800
00:31:13,305 --> 00:31:16,274
Well, you still have
one shark left.

801
00:31:16,274 --> 00:31:18,510
Listen,
for me personally,

802
00:31:18,510 --> 00:31:22,647
I have used earplugs to
eliminate noise for 22 years.

803
00:31:22,647 --> 00:31:25,384
Mm-hmm.
I don't understand
earplugs

804
00:31:25,384 --> 00:31:27,386
to make sound better.

805
00:31:27,386 --> 00:31:29,488
Hmm.
I don't understand that,

806
00:31:29,488 --> 00:31:31,590
as a consumer,
who that would be for.

807
00:31:31,590 --> 00:31:35,961
Yeah.
So, for that reason,
unfortunately, I'm out.

808
00:31:37,529 --> 00:31:38,764
-Okay.
-Thank you so much.

809
00:31:38,764 --> 00:31:40,465
-Thank you very much.
-Good luck, Lauryn.

810
00:31:40,465 --> 00:31:43,034
-Thank you, Lauryn.
-Thank you. Cheers.

811
00:31:44,503 --> 00:31:46,505
Menard: One of the benefits
of owning an earplug company

812
00:31:46,505 --> 00:31:50,342
is you get really good at tuning
out the noise and tuning out,

813
00:31:50,342 --> 00:31:51,743
you know, unwanted things.

814
00:31:51,743 --> 00:31:53,812
And, so, you know,
Kevin was a tough critic,

815
00:31:53,812 --> 00:31:56,415
but, you know, I was
able to pretty much tune him out

816
00:31:56,415 --> 00:31:58,617
and not let it bother
me too much.

817
00:31:58,617 --> 00:32:01,386
Her mission is dictating
her product.
Yeah, yeah, exactly.

818
00:32:01,386 --> 00:32:02,621
As opposed to product...
Greiner: Right.

819
00:32:02,621 --> 00:32:04,489
Product. Yeah.
...pulling the mission.

820
00:32:04,489 --> 00:32:06,591
She is going to
get run over by a train.

821
00:32:06,591 --> 00:32:08,460
Well, isn't that cheerful?

822
00:32:08,460 --> 00:32:11,029
Greiner: I know.
[ Laughs ]

823
00:32:20,205 --> 00:32:22,674
♪♪

824
00:32:22,674 --> 00:32:26,511
Narrator: Next up is an artistic
way to express yourself.

825
00:32:26,511 --> 00:32:35,720
♪♪

826
00:32:35,720 --> 00:32:38,924
Hi, Sharks.
My name is Susana.

827
00:32:38,924 --> 00:32:43,929
I'm from New York City, and if
you can't tell, I'm an artist.

828
00:32:43,929 --> 00:32:49,634
One way I express my creativity
is through the art on my nails.

829
00:32:49,634 --> 00:32:53,705
But getting your nails done
can cost a lot of time

830
00:32:53,705 --> 00:32:55,574
and a lot of money.

831
00:32:55,574 --> 00:32:58,376
When you're in a pinch, you need
to take your naked nails

832
00:32:58,376 --> 00:33:00,645
from zero to full glam
in a minute,

833
00:33:00,645 --> 00:33:03,348
press-on nails
are the way to go.

834
00:33:03,348 --> 00:33:04,749
But most press-on nails

835
00:33:04,749 --> 00:33:08,587
just straight up boring,
basic, and janky.

836
00:33:08,587 --> 00:33:12,858
That's why I created
Never Have I Ever,

837
00:33:12,858 --> 00:33:18,697
an instant beauty brand that
lets you slay anytime, anywhere.

838
00:33:18,697 --> 00:33:22,601
Our hero product lines of
artists-licensed press-on nails

839
00:33:22,601 --> 00:33:26,771
are wearable art that you can
collect, wear everywhere.

840
00:33:26,771 --> 00:33:30,442
We collaborate
with influential rising artists

841
00:33:30,442 --> 00:33:32,878
to create beautiful works
of nail art.

842
00:33:32,878 --> 00:33:37,516
Meanwhile, monetize
their art in a unique way.

843
00:33:37,516 --> 00:33:38,884
So, Sharks,

844
00:33:38,884 --> 00:33:42,721
Never Have I Ever
is stood here in the Tank

845
00:33:42,721 --> 00:33:49,661
asking you for $150,000
for 8% equity of my company.

846
00:33:49,661 --> 00:33:53,465
Sharks, I think I just nailed
this pitch.

847
00:33:53,465 --> 00:33:57,569
Who's ready to nail this
business with me?

848
00:33:57,569 --> 00:33:58,904
Weaver: Good job.
Whoo!

849
00:33:58,904 --> 00:34:00,739
O'Leary: That was great.
That was great.
Very good job.

850
00:34:00,739 --> 00:34:02,574
Sharks, in front of you,

851
00:34:02,574 --> 00:34:05,377
you each have your
own custom sets of nails

852
00:34:05,377 --> 00:34:06,811
to try on for yourself.

853
00:34:06,811 --> 00:34:09,648
Are there stick-on nails
in the market already?

854
00:34:09,648 --> 00:34:11,716
Yes, there are
stick-on nails,

855
00:34:11,716 --> 00:34:14,553
but we are the first
artist-licensed

856
00:34:14,553 --> 00:34:15,754
press-on nail brand.
Got it.

857
00:34:15,754 --> 00:34:18,389
So your advantage is
not you're the first.

858
00:34:18,389 --> 00:34:20,458
You have the artistic design.

859
00:34:20,458 --> 00:34:21,592
It's a really cool idea.

860
00:34:21,592 --> 00:34:23,027
Can you walk me
through the economics

861
00:34:23,027 --> 00:34:25,563
if I'm an artist?
What does it look like for me?

862
00:34:25,563 --> 00:34:28,833
Every pair of nail
that we sell, you get 5%.

863
00:34:28,833 --> 00:34:30,969
So what is -- What
do these sell for?

864
00:34:30,969 --> 00:34:35,607
So, each box sells
between $18 to $20.

865
00:34:35,607 --> 00:34:37,475
What's it cost you
to make?

866
00:34:37,475 --> 00:34:39,077
$2 to $3?
Tell us about you.

867
00:34:39,077 --> 00:34:43,581
Actually, I was born
and raised in New York City,

868
00:34:43,581 --> 00:34:48,887
and I'm always that one
odd Asian kid that's --

869
00:34:48,887 --> 00:34:51,389
that doesn't know
how to play any instrument

870
00:34:51,389 --> 00:34:53,291
and also bad at math.

871
00:34:53,291 --> 00:34:55,594
[ Laughter ]

872
00:34:55,594 --> 00:34:57,529
But I know how to draw.

873
00:34:57,529 --> 00:34:59,965
I love paintings,
I love being creative.

874
00:34:59,965 --> 00:35:03,602
And I went to Parsons
for full scholarship,

875
00:35:03,602 --> 00:35:04,903
graduate for --
Wow.

876
00:35:04,903 --> 00:35:06,771
Great design school.
Wow. That's amazing.

877
00:35:06,771 --> 00:35:08,840
For major in product design.

878
00:35:08,840 --> 00:35:14,679
Your 150,000 for 8%
imputes a $1.875 million.

879
00:35:14,679 --> 00:35:16,881
Where have been your sales
and through which channels?

880
00:35:16,881 --> 00:35:20,986
Our lifetime
sales goal has hit $900,000.

881
00:35:20,986 --> 00:35:23,788
Wow. Good. In how long?
And our receivable --

882
00:35:23,788 --> 00:35:28,460
Our receivable -- account
receivables are $600,000...

883
00:35:28,460 --> 00:35:29,961
Wow.
...waiting to come in.

884
00:35:29,961 --> 00:35:32,731
No, no, no.
That is horrible news.

885
00:35:32,731 --> 00:35:34,633
That's not exciting.

886
00:35:34,633 --> 00:35:36,001
Wait. Wait, wait.
That's exciting.

887
00:35:36,001 --> 00:35:37,736
If you have a lifetime
sales of 900,000

888
00:35:37,736 --> 00:35:39,604
and receivables
of 600,000 --

889
00:35:39,604 --> 00:35:40,972
This is our year two,

890
00:35:40,972 --> 00:35:43,541
and we already confirmed
$1.6 million sales.

891
00:35:43,541 --> 00:35:44,876
She's done 1.6 -- Yeah.

892
00:35:44,876 --> 00:35:47,679
$1.6 million.
Sorry, I'm so confused.

893
00:35:47,679 --> 00:35:48,880
How long have you been
in business?

894
00:35:48,880 --> 00:35:50,649
This is year two, so --
Got it.

895
00:35:50,649 --> 00:35:52,751
So, last year,
what were your sales?

896
00:35:52,751 --> 00:35:54,686
$400,000.

897
00:35:54,686 --> 00:35:56,955
And what will your
sales be this year?

898
00:35:56,955 --> 00:35:59,858
We are projected
at $1.6 million.

899
00:35:59,858 --> 00:36:01,826
So far, year to date?
But what have you done
thus far?

900
00:36:01,826 --> 00:36:03,695
Yes.
What have you
done so far?

901
00:36:03,695 --> 00:36:06,631
Year to date
in our business account,

902
00:36:06,631 --> 00:36:09,734
$900,000, and account
receivables, nine.

903
00:36:09,734 --> 00:36:12,637
No, no, Susana, let me
explain something to you.

904
00:36:12,637 --> 00:36:14,839
You want your
accounts receivable

905
00:36:14,839 --> 00:36:16,107
to be as
low as possible.

906
00:36:16,107 --> 00:36:20,612
Accounts receivable is when
you sell to the retailer,

907
00:36:20,612 --> 00:36:22,714
and the retailer
has yet to pay you.

908
00:36:22,714 --> 00:36:24,783
And if, at any point,
you've delivered the product

909
00:36:24,783 --> 00:36:26,918
and you don't get paid,
it can kill you.

910
00:36:26,918 --> 00:36:29,754
So AR --
Well, we don't know
what her AR is.

911
00:36:29,754 --> 00:36:31,690
Did you sell $600,000...
Daniel.

912
00:36:31,690 --> 00:36:33,191
...in the last 30 days?
Yes, yes, yes!

913
00:36:33,191 --> 00:36:35,827
I'm telling you, this category
is a growing category.

914
00:36:35,827 --> 00:36:37,729
Okay, so -- so --
Sus-- So --

915
00:36:37,729 --> 00:36:40,398
It's projected
more than 50 billion by 2030.

916
00:36:40,398 --> 00:36:41,066
So -- So --

917
00:36:41,066 --> 00:36:44,636
You have no idea
how crazy this thing is going.

918
00:36:44,636 --> 00:36:46,404
Aah!

919
00:36:46,404 --> 00:36:47,238
We just started.

920
00:36:47,238 --> 00:36:49,941
We focused a lot on wholesale
because we got very lucky.

921
00:36:49,941 --> 00:36:52,844
We got picked up right away
with this concept.

922
00:36:52,844 --> 00:36:53,878
By who? By who?

923
00:36:53,878 --> 00:36:55,714
By Urban Outfitters,
actually.

924
00:36:55,714 --> 00:36:56,915
We're first --

925
00:36:56,915 --> 00:36:58,850
You're in Urban Outfitters,
every store?

926
00:36:58,850 --> 00:37:00,985
Yes. Every store,
more than 200 stores.

927
00:37:00,985 --> 00:37:02,954
So you're
in 200 Urban Outfitters.

928
00:37:02,954 --> 00:37:04,622
What other retailers
are you in?

929
00:37:04,622 --> 00:37:05,790
We're in Pacsun.

930
00:37:05,790 --> 00:37:07,659
Pacson.
How many stores is that?

931
00:37:07,659 --> 00:37:08,927
200 stores.

932
00:37:08,927 --> 00:37:10,795
O'Leary: Listen, I really
enjoyed the presentation,

933
00:37:10,795 --> 00:37:13,064
but for me, it's not
buttoned up enough.

934
00:37:13,064 --> 00:37:15,700
I just want to be
able to give you 150,000.

935
00:37:15,700 --> 00:37:18,336
I wouldn't do it for 8%.
I'm out.

936
00:37:19,170 --> 00:37:23,775
Susana, I could not get
clarity to understand

937
00:37:23,775 --> 00:37:25,777
where your numbers
are actually at.

938
00:37:25,777 --> 00:37:27,612
I apologize,
but I'm out.

939
00:37:28,913 --> 00:37:30,181
Susannah.
I think you're incredible.

940
00:37:30,181 --> 00:37:33,852
You're an absolute genius.
Creative genius.

941
00:37:33,852 --> 00:37:38,590
It's not for me because I'm
just not into nails, right?

942
00:37:38,590 --> 00:37:40,892
Unfortunately, I'm out.

943
00:37:40,892 --> 00:37:44,062
Um, you know, I love products
that have a big audience,

944
00:37:44,062 --> 00:37:46,798
and unfortunately,
this just is too niche.

945
00:37:46,798 --> 00:37:48,633
I'm sorry. I'm out.

946
00:37:51,603 --> 00:37:53,705
Um...

947
00:37:53,705 --> 00:37:55,707
I want to give
you an opportunity.

948
00:37:55,707 --> 00:37:56,975
O'Leary: Whoa.
Wow.

949
00:37:56,975 --> 00:37:58,877
Didn't see that coming.

950
00:37:58,877 --> 00:38:00,979
Thank you.
Thank you, Robert.

951
00:38:00,979 --> 00:38:03,014
Here's what I can
do for you.

952
00:38:03,014 --> 00:38:05,116
I have a social team that
I've been working with

953
00:38:05,116 --> 00:38:07,919
for the last year.
They're incredible.

954
00:38:07,919 --> 00:38:11,122
You are made for social.

955
00:38:11,122 --> 00:38:13,124
I think that retail
will pull through.

956
00:38:13,124 --> 00:38:15,894
It's a bit of a flyer,
but I need a bigger stake.

957
00:38:15,894 --> 00:38:18,763
I'll give you 150,000...

958
00:38:18,763 --> 00:38:21,099
for 25%.

959
00:38:21,099 --> 00:38:22,901
Ay Chihuahua.
That's my offer.

960
00:38:22,901 --> 00:38:24,769
Whew!
That hurts.

961
00:38:24,769 --> 00:38:29,440
♪♪

962
00:38:35,680 --> 00:38:37,215
Narrator: Four Sharks are out.

963
00:38:37,215 --> 00:38:39,984
Susana has an offer
on the table from Robert

964
00:38:39,984 --> 00:38:43,087
for her nail art company
Never Have I Ever.

965
00:38:43,087 --> 00:38:45,957
But he wants a much
bigger stake than the 8%

966
00:38:45,957 --> 00:38:47,725
she came in offering.

967
00:38:47,725 --> 00:38:52,730
I'll give you 150,000
for 25%.

968
00:38:52,730 --> 00:38:53,932
Ay Chihuahua.
That's my offer.

969
00:38:53,932 --> 00:38:55,600
Whew!

970
00:38:58,002 --> 00:39:00,905
I would like to counter.

971
00:39:00,905 --> 00:39:02,607
What's your counter?

972
00:39:02,607 --> 00:39:05,143
150,000 for 10%,

973
00:39:05,143 --> 00:39:11,983
plus the royalty of $0.50 per
box until it capped at 150,000.

974
00:39:11,983 --> 00:39:13,852
I just heard royalty.

975
00:39:13,852 --> 00:39:15,787
[ Laughter ]
Ooh.

976
00:39:16,955 --> 00:39:18,056
[ Speaks Spanish ]
I'm thinking,

977
00:39:18,056 --> 00:39:20,058
I'll do the deal.

978
00:39:20,058 --> 00:39:23,728
I'll drop the equity down
to 10%.

979
00:39:23,728 --> 00:39:25,196
But I want that
$0.50 a box

980
00:39:25,196 --> 00:39:28,933
until I make three times
on my 150.

981
00:39:28,933 --> 00:39:31,035
You've got two offers.
Susana, I'll modify my offer.

982
00:39:31,035 --> 00:39:32,971
Do you want
a counter from me,

983
00:39:32,971 --> 00:39:34,973
or do you want to do
a deal with Kevin?

984
00:39:34,973 --> 00:39:37,408
Well, you have two offers.
You have to decide.

985
00:39:37,942 --> 00:39:40,011
Do you want to hear
back from Robert?

986
00:39:40,011 --> 00:39:42,780
Yes. I would like to hear
back from Robert.

987
00:39:42,780 --> 00:39:46,084
150,000 for 20%.

988
00:39:46,084 --> 00:39:48,019
So I'll come down
from the 25.

989
00:39:48,019 --> 00:39:50,088
That's my offer.
150,000.

990
00:39:50,088 --> 00:39:52,123
So that's twice the amount of
equity you got to give up.

991
00:39:52,123 --> 00:39:53,992
And if your business
is going to be successful,

992
00:39:53,992 --> 00:39:55,960
you can afford
giving me $0.50.

993
00:39:55,960 --> 00:39:58,062
But the royalty goes
away after 3X.

994
00:39:58,062 --> 00:40:00,798
Wow.
That's a tough...

995
00:40:01,966 --> 00:40:03,935
...tough decision.

996
00:40:03,935 --> 00:40:05,870
You got to make it.
Here you are in Shark Tank.

997
00:40:05,870 --> 00:40:07,572
Make the decision.

998
00:40:09,607 --> 00:40:13,745
150,000, 10%...

999
00:40:15,647 --> 00:40:18,650
...and royalties 2X.

1000
00:40:18,650 --> 00:40:20,752
No.

1001
00:40:20,752 --> 00:40:23,955
Susana, all due respect,
I --

1002
00:40:23,955 --> 00:40:25,089
I'm out.

1003
00:40:25,089 --> 00:40:26,824
No, I --
Look, you can't --

1004
00:40:26,824 --> 00:40:29,060
Like I --
I-I believe in you,

1005
00:40:29,060 --> 00:40:31,062
but you come in here,
I make you an offer.

1006
00:40:31,062 --> 00:40:33,898
You got to make a decision.
You're negotiating with Kevin.

1007
00:40:33,898 --> 00:40:35,199
No, I made the decision,
Robert.

1008
00:40:35,199 --> 00:40:36,968
Actually, I go for you.
No, I'm out. I'm out.

1009
00:40:36,968 --> 00:40:38,937
Because thank you so much
for believing in me.

1010
00:40:38,937 --> 00:40:41,239
No, no, no.
I actually really, I-I-I--

1011
00:40:41,239 --> 00:40:43,942
Susannah, I can't do it.
I'm sorry. I can't do it.

1012
00:40:43,942 --> 00:40:45,910
You -- You --
I gave you a chance.

1013
00:40:45,910 --> 00:40:47,245
With all due respect,
to make a decision --

1014
00:40:47,245 --> 00:40:49,080
No, I take --
You deflected from me.

1015
00:40:49,080 --> 00:40:51,082
You wanted to do
a deal with Kevin.

1016
00:40:51,082 --> 00:40:53,184
I'm okay with that.
My feelings aren't hurt.

1017
00:40:53,184 --> 00:40:55,186
I-I-- I can't do it.
I'm sorry.

1018
00:40:55,186 --> 00:40:57,989
I wish you all the best.
I'm out.

1019
00:40:57,989 --> 00:40:59,791
Well?

1020
00:41:00,758 --> 00:41:02,460
The Sharks.

1021
00:41:03,895 --> 00:41:05,697
You're in the Tank.

1022
00:41:06,097 --> 00:41:08,833
All roads lead back
to Mr. Wonderful.

1023
00:41:08,833 --> 00:41:15,173
♪♪

1024
00:41:15,173 --> 00:41:17,241
Okay, I take the offer.
Yeah, no kidding.

1025
00:41:17,241 --> 00:41:19,210
[ Laughing ]
Oh, my God.

1026
00:41:19,210 --> 00:41:21,112
Thank you so much.
Congratulations.

1027
00:41:21,112 --> 00:41:22,914
I think we'll do
just great together.

1028
00:41:22,914 --> 00:41:24,215
Just great together.
Thank you.

1029
00:41:24,215 --> 00:41:26,284
You got it.
Thank you, Robert.

1030
00:41:26,284 --> 00:41:28,052
It's a simple idea,
and it's working.

1031
00:41:28,052 --> 00:41:29,220
Take care. Thanks.

1032
00:41:29,220 --> 00:41:30,421
I'm sorry we
couldn't do a deal.

1033
00:41:30,421 --> 00:41:32,256
Thank you. Thank you.
Greiner: Good luck, Susana.

1034
00:41:32,256 --> 00:41:34,826
I'm gonna put
my nails on now.

1035
00:41:34,826 --> 00:41:36,961
That was so hard!

1036
00:41:36,961 --> 00:41:40,765
It was so hard!
Oh, my God, these Sharks!

1037
00:41:41,499 --> 00:41:44,936
Robert is great. I really
wanted to go for Robert.

1038
00:41:44,936 --> 00:41:48,139
I don't know why I didn't.
I -- Yeah.

1039
00:41:48,139 --> 00:41:52,243
I don't know if it's the right
decision, but I made it.

1040
00:41:52,243 --> 00:41:55,913
Because of your chirping,
she lost a good deal.

1041
00:41:55,913 --> 00:41:57,148
She lost
a really good deal.

1042
00:41:57,148 --> 00:41:59,150
Let's be honest
with each other.

1043
00:41:59,150 --> 00:42:00,418
The greed.
Listen --

1044
00:42:00,418 --> 00:42:03,221
No, no, she --
She tried to take his deal.

1045
00:42:03,221 --> 00:42:05,123
Thank goodness I was here.

1046
00:42:05,123 --> 00:42:07,358
The lesson here
is there's a time to sell

1047
00:42:07,358 --> 00:42:09,027
and there's a time
to close.

1048
00:42:09,027 --> 00:42:10,995
Yeah.
And she had
an opportunity to close.

1049
00:42:10,995 --> 00:42:12,230
She had it and she
should have closed.

1050
00:42:12,230 --> 00:42:14,298
She should have closed.
Robert, it's sour grapes
for you.

1051
00:42:14,298 --> 00:42:17,268
It was Mr. Wonderful
to the rescue.

1052
00:42:17,268 --> 00:42:19,704
Ohh. [ Laughs ]
That's it.

1053
00:42:19,704 --> 00:42:25,576
♪♪

1054
00:42:28,780 --> 00:42:38,790
♪♪

1055
00:42:38,790 --> 00:42:48,699
♪♪

1056
00:42:48,699 --> 00:42:57,642
♪♪