Narrator: Tonight on the season finale of "Shark Tank,"
money talks.
Oh, you're making it rain! [ Parrott squawking ]
Sharks, let's talk about investing.
Together: Let's make some serious dough!
You're speaking my language right now.
You love that word.
Narrator: Whose hopes will be dashed?
Never let a greedy pig steal equity.
Turn away from him.
How much have you invested thus far?
Almost $1 million.
-Whoa! -What?
Oh, Lauren!
Narrator: And whose dreams will come true?
All along, we've been invisible.
We want to be more visible.
You are not invisible.
This is gonna be our American dream!
Narrator: It all starts now.
Stop the madness.
♪♪
Narrator: First in the Tank is a way to invest
like the rich and famous.
♪♪
Hi, Sharks. I'm Nikki.
I'm Lucy. And I'm Victoria.
And we're from San Francisco, California,
where the rent is high...
Together: And so are our ambitions! [ Sharks chuckle ]
We're seeking $250,000 for 2.5% equity in our company...
-Aye, yi, yi, mama! -Scott: Whoa!
...Parrot Finance.
Sharks, let's talk about investing.
Right now, if you want access
to the best investment strategies,
you need to be rich --
like, "send a pop star into outer space" rich.
That's right!
Wall Street is a gated community,
while the rest of us are stuck outside,
shaking the fence like,
"Please, sir, may I have a diversified portfolio?"
[ Sharks chuckle ]
Meanwhile, the 1% are printing money
and we're stuck with a savings account collecting dust.
And that's why we created Parrot Finance,
an investing platform that lets everyday people
mimic top-tier professional investors
like hedge funds, insider CEOs, and politicians.
[ Laughs ] Because for decades,
only the wealthy had access to these investing strategies.
Now you do, too.
Here's how it works.
Connect your brokerage account,
discover and subscribe to high-performing portfolios
with proven returns... Hm.
...and view exclusive investment activity.
So when Mr. Wonderful buys a stock,
you get alerted... Greiner: Ooh! Wow!
...and can choose to mimic that trade instantly.
It immediately goes into
your connected brokerage account.
It's that simple.
Lucy: The rich keep getting richer
and we let you in on their secrets.
Now you can have your own mini Mr. Wonderful
in your pocket. [ Laughs ]
Only less grumpy.
[ Laughter ]
We partnered up with all the major
North American brokerages to make it seamless and secure,
because smart investing
shouldn't be just for the ultra rich.
So, Sharks, who's ready to ruffle some feathers...
Together: And parrot the pros with Parrot Finance?
-Whoo! Oh, geez. -Greiner: Wow! Oh! [ Laughs ]
Williams: Oh, my goodness. Scott: Oh, wow!
Oh, my goodness!
Oh, you're making it rain!
Okay, there we go. Making it rain! Let's go!
[ Laughter ]
I love it.
Good job, ladies. [ Parrot squawking ]
The first thing that comes -- He's still squawking!
[ Laughter ] [ Squawking continues ]
Greiner: The first thing that comes to my mind is,
how are you getting the information?
And what about the privacy for the client?
Yeah. So we have two ways to get information.
One, through 13F filings,
which is government data and reported.
And the second is through bespoke custom partnerships
we do with funds.
So you're just taking the public data, scraping it,
and saying, "This person either bought or sold..."
-Correct. -O'Leary: Okay.
So that's public information.
You're just organizing it.
But if I'm the brokerage company,
I also sell advisory services.
Why would I want you little teenagers
telling me it's free?
So, before you answer, I know this space so well.
I invested in Robinhood and Coinbase and all these.
They direct flow, trading flow, to these brokerage houses
and get a commission every time they bring a client in
that directs that flow.
Is there anything like this right now, Rashaun, that's...
Yeah. So this is -- this is interesting.
First of all, I'm fired up about it
'cause I love fintech.
It's kind of like my thing, right?
I'm trying to figure out if this is just a cool feature
that a Robinhood can add,
or if you guys actually have a real business behind it.
Do you have anything protectable about it?
Yeah, so the biggest thing here is with the 13F filings,
it is public information.
However, it's extremely hard for the average person
to be able to access this data
because it's very messy and it's not aggregated well.
Hedge funds do it right now. Retail does not do it.
Varanasi: Retail cannot to it. You're trying to democratize it
so that the average -- Yes, and make it readable, digestible,
so people looking on their phones
will get an alert, and it's very actionable. It's actionable.
You're able to basically take action by mimicking it
and customize that trade,
so you're not blindly... Hence, "parrot."
...putting $5,000 -- There you go.
You're parroting. I got it! Finally. Yes, there you go!
A noisy parrot, 'cause you're parroting it.
So it's customizable.
I can choose to put $10 in this, $50 in this.
And how many users do you have so far?
Yes, so we launched last year... Mm-hmm.
...and since then, we've gained 25,000 users...
Lubetzky: Wow. ...with 85 million assets connected into Parrot.
That's very impressive. How do you make money?
Yes, so the biggest way we make money right now
is through subscription model, a monthly fee.
It ranges from $8 to $15 a month,
depending on the bundle,
whether it's CEOs, politicians, hedge funds.
What's your customer acquisition cost?
So, of the 25,000 customers that we've acquired,
about 60% of them came from organic.
So right now we have about 50,000 followers...
Oh, she's speaking my language right now. ...across our socials.
You love that word -- organic! And how many pay you the 8 bucks a month?
Viral coefficient. I love it. I love it.
So we have 50,000 across our socials...
Okay. ...and we have millions of impressions
across all our socials as well.
40% of that is through paid acquisition.
So like that's paid advertisements
and influencer marketing.
Lubetzky: Just to understand a little bit
about your backgrounds,
because it's so impressive what you've built...
So impressive. ...and you look very young.
Are you as young as you look, or do you just...
Victoria: We're older. ...eat a lot of KIND bars?
I wish we were actually teenagers. Thank you.
Then I gave you a great compliment. [ Laughter ]
So, we all have experience in top financial firms.
I worked in the private equity world before this,
and then I went into the consulting world
and then a hedge fund, so I was at a $20 billion hedge fund.
Amazing. And so it really inspired me
to go into this space and build for this.
So, I actually worked at a large investment bank
where I actually partnered with a lot of hedge funds,
working on the prime brokerage side.
And Victoria and I are actually twin sisters,
if you can't tell.
I'm the third sister.
[ Laughter ]
So, I guess my background is very similar to Lucy's,
but I come from an engineering background.
It's a very male-dominated field.
But the product end -- engineering at various companies
from small to, like, really large tech companies.
You three are so inspiring.
-Thank you so much! -Thank you. -Thank you.
I'll tell you what's really impressive is your valuation.
Why do you think you're worth $10 million?
Yeah, it's a great question. Well, we have the traction --
O'Leary: You bet it's a great question. [ Laughter ]
We have the traction in such short, little time
with limited resources.
And we have scaled our AUM up to 85 million
in just a few months, so we know the potential here.
We can get billions of dollars. O'Leary: But it's not really your AUM.
It's sitting on the brokerage account.
Assets connected, yes, but assets connected to Parrot -- Lubetzky: But also, Nikki, when you say assets connected --
I understand why it's important. [ Chuckles ]
But in the real world,
that doesn't really justify that valuation.
What are your sales?
So we were founded just a few months ago,
about five to six months ago. Really?
Yeah, we launched. Congratulations.
We were in development for quite a bit,
so a year before that.
Actually, we were freemium model till now,
and we were kind of ramping up our user base.
And now we just switched on pricing not too long ago.
Okay, so you really don't know your sales yet.
But we do have projections, and so we're on track... What's your projections?
...for $1 million in the next 12 months.
You know, Warren Buffett, many, many years ago, made a bet
that if you invested in an index,
you would outperform all these hedge fund managers
and nobody was able to actually beat a standard passive index.
[ Chuckles ] So why are you
so confident that this is a better opportunity
than just buying an index?
So these funds kind of offer diversification, risk hedging.
And then in addition to that,
there's just different ranges of investments
that they can focus on.
So I think it gives people more rat-- personality
into their investments.
I don't think people are interested solely for returns.
I think people are interested
because they see politicians making trades.
They see hedge funds making trades.
Exactly. People understand the volatility
and they don't trust financial advisors.
Who invested and how much have you raised?
So we've raised, to date, about $2.5 million.
-Whoo. -Scott: Wow.
Top Silicon Valley investors.
And is it a SAFE note? It is a SAFE note.
And what's the cap on the SAFE note?
$10 million. Guys, I'm ready for an offer.
-Scott: Wow. -So am I.
-Lubetzky: Really? -Scott: Okay. Let's go.
♪♪
Narrator: All Sharks are still in,
and Rashaun and Lori are interested
in Victoria, Nikki, and Lucy's financial tech company, Parrot.
Uh, Lori, you want to come in with me on this one?
I do. I really do. Okay, all right, all right.
He knows I want to come in because I love ladies like you.
And I just want to be there to be the accelerant
along with him. Thank you.
So, yes, I'm in.
Thank you. So I know this space like the back of my hand,
and you guys solved the magic equation.
You've been able to find virality
and adding users not just by spending money on advertising.
-Right. -Yes. -Yep.
Now, the first thing you need to understand is
seed round valuations,
which is what you raised, don't exist.
So I know you have this $10 million thing in your head.
It's made up. That's not your valuation.
That's the cap that it will convert to
at some point in the future when folks like Lori and I
help you get to the promised land.
So you don't have a valuation now.
We want to offer you a valuation.
So for Lori and I, we'll split $250,000,
but instead of 2.5%,
which is a $10 million valuation,
we'll do $250,000 for 10%,
which is a $2.5 million valuation.
And I'll share all the little tricks of the trade
that I learned over 12 years... Greiner: Which he knows.
...when backing 10 of these fintech companies
who did the same thing that you guys are trying to do.
This is your Shark. Varanasi: Thank you so much.
I want to throw something out there
just to make it more interesting.
No, no, don't. Go away. O'Leary: So, I think there's a reason
you put Mr. Wonderful in the presentation.
I am the financial services guy.
The whole idea is how much share can you get and drive users,
but never let a greedy pig steal equity. [ Laughs ]
So I'm saying I'll do the deal. So...turn away from him.
I'll do the deal. I'll make it 7%. Around 7%.
What do you want to do? So, Lori and Rashaun,
thank you so much for your offer.
Will you guys go in at 250K for 4%?
How about we go 250K...
for 7%?
♪♪
Can you do 250K for 4% and 2% advisory shares,
which brings it to 6%? O'Leary: I'll do that deal.
I'll do that deal. Um, she wasn't talking to you.
I'm saying, you want competition? She was talking to us.
I'm happy to compete. 250K. You want to do it?
Yeah. We'll do it!
We'll do it. [ Cheering ]
Scott: Amazing. There you go.
[ Women squealing ]
Congratulations, you guys!
[ Women squealing ]
-Thank you! -Thank you so much!
-Super excited to work together. -Great job.
-Thank you so much. -Thank you!
Dream team. Congratulations, you guys.
Thank you! Bye!
Oh, my God!
[ Women squealing ]
Yeah, we got two Sharks. We got Lori and Rashaun,
and they're the perfect fit for us.
Yeah, I think they're great.
They're so aligned with what we want to do,
and they know what we want to do.
Yeah. And they see the vision, and they see what we believe.
They believe in us, and we're so excited! Yes!
Together: We got a deal!
Narrator: Earlier this season, Ben Rosenbaum and Pete Davidson
made a deal with Kendra Scott
for their sock company, doublesoul.
Do you mind if we make a quick call
to my wife and co-founder?
She's the CEO. I'm gonna come talk to her.
What do you think? Are we good?
Allison: Let's do it. All right.
We're good. We're good.
Narrator: Let's see what they're up to now.
The biggest change to our business
is our son, Spencer,
who was born just a couple months ago.
He's the reason I wasn't able to pitch to the Sharks.
I was there to close the deal.
I got a call from Kendra,
and she was the Shark I was really hoping to hear from.
Ben: After "Shark Tank,"
we experienced our biggest surge in orders ever.
Within just an hour, we sold out of all of our Amazon inventory,
and over the course of just a week,
we sold over half a million dollars in sales.
Before Ben and Pete pitched on "Shark Tank,"
we were doing about $2.3 million in revenue for the entire year,
and in just two months after "Shark Tank,"
we've already done over $2 million in sales.
The Kendra Scott socks that we did sold out immediately! I know! I can't even get one.
Ben: An incredible testament to Kendra as a Shark
is we got to work right away designing a collaboration
that was really inspired by her jewelry designs,
both for one of her brands, Yellow Rose,
and her other brand, Kendra Scott.
And those are already available in-store and online.
Not only has Kendra been able to open up doors
to some of the biggest retailers in the country,
but she's given us access
to her in-house merchandising team,
who's been helping us build the infrastructure we need
to just skyrocket and fly off the shelves.
Selling to other retailers --
I mean, that's really how I built my business and brand,
where people can touch, can feel it in brick and mortar,
and us starting to turn that on is so exciting.
I'm proud of you guys. This was a great idea.
Allison: With our baby at home and Pete also having a newborn,
we knew what our next launch needed to be.
We've been, for years, getting emails
from frustrated customers --
"Why don't we have these in children's sizes, toddler, baby?
Your socks actually stay on your foot.
We're using earth-safe dyes.
We need a brand that we can trust,"
and that's why we're launching baby socks.
It's gonna be really fun
to have a baby soul sock playdate together.
There is so much more in store for us.
We have an amazing collection coming out with Von Dutch.
We're gonna eventually go into underwear,
to sports bras, to loungewear,
and you'll be able to find our product everywhere.
The projections this year were insane.
When we take a look back at what we've built
and we started packing socks in his mother's basement,
and then we ended up on "Shark Tank" with Pete Davidson,
it's proof of concept to every single person out there
you could get there.
It's a matter of trying.
Ben: Getting on "Shark Tank" was the best way
for us to bring this product to millions of people.
The sky's really the limit for us,
and ultimately, we see doublesoul being
the next billion-dollar brand to come out of "Shark Tank."
♪♪
Narrator: Next up is a guilt-free way
to satisfy your sweet tooth.
♪♪
Hi, Sharks! I'm Santiago Arroyo.
And I'm Diego Arroyo.
We're brothers, and today we're seeking
for $500,000... Whoa!
...for 5% equity in our company
Don'tWorry snacks.
Sharks, let's be real.
How many times have you tried
a healthy snack that tastes awful,
or a delicious snack that is loaded with sugar,
fat, and calories?
Every day. Most of the snacks
makes you choose between feeling good
or tasting good.
We set out to achieve the impossible --
a snack with the lowest calorie
and with the highest indulgence,
with absolutely no sacrifice in flavor.
Introducing Don'tWorry snacks.
Our melt-in-your-mouth meringue cookie are so airy,
so luscious that you won't believe
it only has as little as one calorie per piece.
No! Scott: One?!
Get out! One calorie per piece!
Stop the madness.
Santiago: And our crispy quinoa bites --
they are bold, they are craveable
and perfectly poppable,
like a crunchy little fiesta with zero sugar,
low carb, and gluten free!
Together: So, Sharks, who's ready to turn
Don'tWorry from the American dream
into the next American obsession?
I don't believe it. I want to taste it.
For the first time in seven years that I'm here,
you're finally speaking English properly.
Now you guys know what it feels like.
[ Laughter ]
Okay, this is one calorie?
No, that's four calories. No, that's four calories
because it's filled with chocolate.
But see, I could eat a whole tub! [ Laughs ]
Oh, my God.
I just want to speak to this
because I am a meringue lover. Wow!
Okay.
I love that you make it with allulose.
That for me is like, ding, ding, ding!
Home run.
O'Leary: So there's no cane sugar in here?
No cane sugar. Wow!
Which is phenomenal. What's your background?
We always loved sweets.
And when we realize when we get older,
it was like... They don't love you back.
No. ...they don't love you back!
[ Laughs ] And we like to indulge.
So we said, okay, we have to make something
that really tastes delicious.
And you are not worried about eating it.
Right.
And after two years,
we knocked the door on H-E-B México in Monterrey.
And they opened us the door.
And what year was that?
That was in 2012. 2012.
Greiner: Oh, wow. So that's a long time ago.
Okay. A long time ago.
We have been doing this
for 15 years. Okay.
The product was very sensational in Mexico.
And then we opened Costco and other...
Wow. ...big retailers.
-Walmart... -Greiner: In Mexico or...
-Both: In Mexico. -In Mexico. Okay.
Everything until this is Mexico. Mexico.
Okay. And one thing
that changed our life
is we receive a call on 2020 from H-E-B US.
And they told us, "I want to bring your product
into the US!"
And I went with Diego and I said, like,
"Can you believe that?!" [ Laughter ]
This is gonna be our American dream!
We have to do it.
Oh, I love this.
We started on the retail.
After that, we got viral on TikTok,
and this explodes.
What are your sales?
2021, $1 million.
2022, $1 million. 2023, $1 million.
2024 we did $2 million.
And up to now, we have done $2 million.
-Wow. Good job! -Scott: Great!
All right, guys, when you impute a $10 million valuation,
that makes us like,
what -- what do these guys think they're doing?
They're pricing it like a rocket,
but they're a motorcycle.
The last 12 months sales is $3.3 million.
In 2024, when you did $2 million, What was your net?
It was 6% EBITDA.
So what are you gonna do this year?
Well, our objective is $7 million.
How are you guys gonna do $7 million this year
when you did $2 million last year?
So right now we are currently doing $2 million in 5 months.
That will take us to $5 million. But we have a positive trend.
For you to get from the trajectory of $1 million,
$1 million, $2 million to $7 million...
For a 15-year-old company. ...you're gonna need to have
recurring revenue and recurring miracles.
I mean, it is a very aggressive projection.
He's the king of healthy snacks.
The king. It's like Mike Tyson said,
"Everybody has a plan till they get punched in the face, right?"
Yeah, but this year, definitely we're gonna reach $5 million.
Yeah, but you're not valued at net sales.
That's for hyper-growth companies
in the venture capital space.
You're valued as a private equity investment,
which is a multiple of EBITDA,
3 to 5 times EBITDA. Profit.
KIND did get those valuations,
but we had 25% EBITDA margins.
You have a 6% EBITDA margin. Right.
In the retail is 50 -- gross margin, 50%.
On e-commerce is 72%.
What percentage of your sales are e-commerce?
Direct to consumer is 90%.
So what happened when you went into H-E-B --
When they said, "We're gonna bring you to America,
land of opportunity," what happened?
We tried to open doors in the other retailers,
but it has been so difficult for us... Why?
...to get in front of the right buyers.
There are too many brokers, too many people promising you
that they will get you in front of the buyers. Limited shelf space.
So what are the stores that you are in?
We are in H-E-B.
H-E-B. It's out of Texas. H-E-B. Okay.
The rest is online.
So, guys, this is the value pen.
It smells value.
I just have to hold it to my head
and it tells me exactly what you're worth. Oh, Lord. Here we go.
You're worth between $1.5 and $2 million.
Facts.
It's tough because if you're only worth
a million and a half,
I gotta get a third of the business
to even just make it realistic.
33%.
I don't want to fight that out with you,
so, um, I'm out.
You know, when you came in, you had me at hello...
[ Laughs ] ...and then you lost me with almost everything else.
Oh. And for that reason, I'm out.
Well, for me, I think you guys should be valuing this business
as a multiple of EBITDA
because you're not growing at the scale --
that venture-backed company scale.
So that's number one.
Number two, I'm a numbers guy,
and the numbers seem a little shaky to me.
It's just not adding up.
Unfortunately, guys, I'm out.
I'm sorry.
I think your valuation -- I agree with the guys over here.
I mean, it's -- it's too inflated.
There's no way you can base your valuation
on top-line revenue.
I love this product. I will be a customer.
But I cannot be an investor for that reason.
So I'm out.
-O'Leary: Lori? -Am I the only one left?
You are the only one left.
Give them the money, Lori.
I have a problem.
Listen, I love you guys, and I love meringues.
I love the name Don'tWorry,
and I think that could be great for a full brand of...
Then don't worry and give them a deal! ...low-calorie -- low-calorie --
Here's my problem. I hate your valuation.
Lori, remember what the pen said.
$1.5 million. That's what it's worth.
The pen says $1.5 million is what you're worth.
So... So that would be $500,000.
For 33.3%.
For 33.3%. What say you?
What about -- What about doing the $500,000 for 10%?
No. I understand. You're on the carpet.
It's difficult.
Now, I'm giving you a flier, right?
I believe in you. I like the product.
I want to be a third partner.
We don't want it to be just meringues. Guys, what do you want to do?
We want it to be a whole line of products. It's a ton of money.
It is a ton of money on my part.
Scott: It's gonna be a ton of work for her.
It's very risky for me.
♪♪
For us, part of the American Dream
has been people trusting in us,
believing in our brand,
and helping us out to achieve our dream.
So we want to take the offer. Oh!
And thank you. Thank you very much.
Williams: Great job. Scott: Oh, my goodness. I love that!
You made me start to cry.
All right, good job, guys.
Oh, my God. Thank you.
Literally, you made me start to cry saying that.
I was like, "Oh, my God!" Thank you.
Thank you for your trust.
I trust you, I believe in you. Thank you.
And it's gonna be phenomenal. I know.
Definitely. Thank you. Scott: How exciting!
-Lubetzky: Congratulations. -Santiago: Thank you!
-Williams: Great job. -Lubetzky: Felicidades.
Greiner: Nice to meet you.
♪♪
Santiago: Lori will help us to get all over the US
and make our dream...
Together: Come true.
And the most important thing -- she trusts...
Together: In us.
...in our brand, in our company.
And we will make it happen!
♪♪
Narrator: Next up is a solution
to help lighten the load while traveling.
♪♪
Hi, Sharks.
I'm Lauren from Salt Lake City,
and I am here seeking $150,000
for 15% equity in my company Packd.
Okay, Sharks, let me paint you a familiar picture.
You are wrapping up the vacation of a lifetime.
You've hiked, you've lounged,
you shopped like no one's watching.
And now...
...it's time to repack.
Your suitcase...
...exploding. [ Laughter ]
Your dirty laundry is taking up half the space.
And... True.
...that adorable souvenir you had to have...
[ Laughter ] ...to commemorate
the most important trip of your life
is now a baggage fee liability.
It's time to make some serious sacrifices.
Or not.
Introducing...Packd.
Packd bags are prepaid, pre-labeled,
and eco-friendly mailer bags
that let you take up to 10 pounds
of your vacation clothing out of your suitcase
and ship it directly to your doorstep
from anywhere in the US.
No need to hunt down a post office,
buy a second piece of luggage,
or sit on your suitcase while zipping it up again.
Stuff it full, seal it...
...and drop it off at the front desk of your hotel
or schedule a free pickup.
It's that simple.
You get more space, less stress,
and maybe even one less suitcase to lug through TSA.
And your stuff arrives at your doorstep
in three to five days. [ Chuckles ]
So, Sharks, who's ready to help travelers
ditch the dirty clothes and lighten up with Packd?
Williams: Wow. Greiner: Nice.
I need that tomorrow.
O'Leary: So, Lauren, I do this a lot. [ Laughter ]
Scott: I can relate to that suitcase.
Call: Oh, my gosh, yes. Like, all too well.
It's like, boom! O'Leary: I'm just wondering,
I already do this with stuff from hotels
using two giant delivery services.
Sure. Yeah. O'Leary: I just drop it off at the concierge, say,
"Take this and ship it to my home in Miami."
Yup. So what --
Why do I need you?
I think that this is a more affordable option
for more folks.
So what would it cost
to ship that one pack right there?
So this bag, for a customer, is $35 flat rate.
Lubetzky: Whoa.
Is that USPS? USPS.
Okay. Yes.
Lauren, that sounds really high to me.
Greiner: It does. So, a three pack,
which is what we sell most of, is $90.
Lauren, why is it so expensive for the bag, though? But why wouldn't I just go to USPS and get their bags?
For free. For free.
They're not free. Lubetzky: The convenience.
And their boxes -- Scott: But how much are they?
But they kind of are free. Sure, they're free to pick up.
Like, most people go in and just pick up
whatever supplies they want. Scott: So that's free.
Absolutely. Yeah. Okay.
The idea is you're not leaving a vacation location...
It's a convenience play. ...where you've spent money to be at.
Got it. There is some skepticism, Lauren.
Yeah, of course. However, you can eliminate that immediately
by simply talking about sales. Doing sales.
Sales. So last year we did $61,500.
-Greiner: Okay. -Scott: Okay.
And this year, we are already at over $41,000.
Whew.
Okay. That is not a lot.
All of this to make $81,000 this year?
$61,000. I hate to correct you and say it was lower. [ Laughter ]
Okay. But -- She is honest!
Last year where you made $61,000...
Yes. ...how much did you make
or lose on that year?
Um, I don't know about that year specifically.
I haven't made any profit.
So... It gets more exciting
by the minute. I know! It's so fun.
[ Laughs ] "It's so fun!"
I think that this kind of goes back
to the business 101.
I've been learning a lot, and I spent the first few years,
because it's all self-funded --
How much have you invested thus far?
Almost $1 million. Greiner: Whoa!
-What?! -What?! -What?!
Scott: You've invested, yourself, $1 million? Greiner: Wait. Stop.
What?!
Yes. Oh, Lauren!
O'Leary: Are you kidding? Greiner: Where did you get --
Where did you get $1 million to invest in this?
From, uh, fam--
Like, I married into a family
that has a very successful business.
-Okay. -Okay. -Okay.
I want to talk about something different.
So in 2023, we did a market research study
and found that 44 million travelers in the US
fit into our bracket of folks
that travel more than three times a year,
make more than $150,000 a year.
And then 85% of them
that were presented with the brand --
They watched an ad, they saw the website,
they saw all of these things.
And they know how much it costs? They know how much it costs.
And they said they would buy it? Yes. Absolutely.
And so the issue has been reaching that audience.
I need to put more money behind that.
No, no, no. I forbid it. You've already put $1 million.
What in the world did that million dollars go towards?
Help me. Help me help you.
We were buying advertising for six years.
Ooh. [ Laughs ]
It costs money to make the bag.
Six years she's... Greiner: Is there any money left?
Do you know what advertising is in this situation?
It's a tax for the unremarkable. That's what advertising is.
You're being taxed because your product isn't priced right
and people don't want it.
So in this case, advertising is not a good thing.
The problem is, I would not pay more than $10
for three of these things.
So the problem is the pricing of it.
Sure. I'm out.
I'll pass it to the other Sharks to see if they're in.
I'm out with extreme prejudice,
and I actually forbid you to go on.
There's nothing but pain and darkness ahead.
I mean, you can't go on with this.
I'm out.
Lauren, listen,
you have such a wonderful personality
and part of your challenge
is your charm is probably helping you continue
without hearing the feedback that you need to hear.
This time, Mr. Wonderful's correct.
Like, you need to adjust.
I actually think, if you listen,
because of your incredible energy and personality,
you'll figure it out, but you have a long ways to go.
And for those reasons, I'm out.
I don't personally think
this is the right business for you.
Now, think of other things,
because you have a wealth of knowledge.
I'm so sorry. I'm out.
Call: Thank you. Lauren, I'm gonna share a story with you, okay?
My first business, I went in the hat business,
and I was convinced
that I was going to make people wear hats again
like it was 1940.
Everyone in the world was gonna wear hats.
Guess what? Nobody wanted to wear hats.
And I kept putting money into it until I was sucked dry
and I had nothing left.
And I had to come to the realization
People are not going to wear hats, Kendra.
Yeah. And I had to have
the bravery, right, to say, "Enough."
Call: Yes. "How much more am I going to lose?"
But that business was the foundation
for the successful business I launched ahead,
and I think you have that in you to be a successful entrepreneur.
But you are so stuck right now in tunnel vision
on this idea has to be the thing... Call: Yes, sure.
Scott: ...that you're not opening yourself up to the fact
that this may not be it.
Mm-hmm. Something better may be waiting for you.
I don't want you to drown... Mm-hmm.
...and I can't give you a life preserver.
And I wish you the best, but I'm sorry, I'm out.
And this isn't the end. This could be the beginning. Right, this doesn't --
That's right. I just want you to know
you're incredibly courageous. Thank you, Daniel.
And a lot of people would not have
the strength that you have to have gotten this far.
So you deserve appreciation for that.
Thank you. That means a lot.
Thank you. [ Laughs ]
Greiner: Oh, look at that!
Oh, this is very beautiful. Very fancy.
And look, most entrepreneurs make most of their money
on their second or third business.
You got to get this one out of your system.
Lauren, we'll see great things from you down the road.
Thank you. Good luck.
Have a good one. Bye.
Whoo.
So obviously I have some decisions to make.
It would be stupid of me not to recognize
the people in that room know what they're talking about.
Um, so I guess I just have a lot to think about.
Look, we just did her a huge favor.
Yes. We need a moment of silence.
For the million dollars. A moment of silence, please.
[ Laughs ] Please.
♪♪
Narrator: Next up is a family
that's serving up pies with a passion.
♪♪
Oh, wow!
♪♪
Hello, Sharks!
I'm Melody. And I'm Russ.
I'm Taysia.
I'm Rylan.
And together, we are a deaf...
And CODA family-owned business.
CODA means "children of deaf adults."
That's me and Taysia.
We're here seeking $200,000
in exchange for 5% of our company.
I always wanted to be a professional chef,
but because I was deaf, no one would hire me.
So I trained in Italy and became a master Neapolitan pizza maker.
So, almost 15 years ago, these two crazy kids
decided to open up... [ Laughter ]
...their very own Neapolitan pizzeria.
And after many years of watching our parents sling dough,
we decided to band together as a family of four.
In the form of frozen pizza.
Together: With pi00a!
pi00a is the first frozen, handmade,
globally inspired Neapolitan pizza company.
It's light, chewy, crisp, restaurant-quality pizza
made in minutes within the comforts
of your own homes.
Each pizza is hand-stretched
and made from imported Italian "00" flour,
which is considered to be the gold standard in dough making.
pi00a isn't just about pizza.
Although our pizzas are amazing.
[ Laughter ]
We've also created a mission that matters.
We're providing job opportunities
for the deaf community and building businesses
that are inclusive and impactful.
We've put in the work. The passion.
And the time.
And now we're here looking for the right Shark
to help us scale. [ Laughter ]
Together: Let's make some serious dough!
-Scott: Oh, I love it! -Greiner: Yay, great job.
You guys are the most beautiful family.
Thank you. Thank you so much.
Sharks, in front of you,
you have our four current frozen pizza flavors.
We have our Margherita, Quattro Formaggi, Soppressata,
and of course, our Miso Eggplant.
Plus, you also have in front of you
our Spicy Chili Crunch to put on top of the pizza.
Mmm. Oh, my goodness.
Lubetzky: This looks very attractive.
Oh, my gosh, it smells so good. This was frozen?
Yeah, this was frozen. Yes.
This is frozen?
This tastes like fresh pizza from a restaurant.
Wow!
-Scott: This is incredible. -Melody: Thank you so much.
This is really different and really special.
-Scott: So delicious. -Greiner: What is this?
Rylan: That's our Miso Eggplant.
This is off the charts.
Oh, my God, you're right, Lori. This is so good.
O'Leary: The quality is excellent,
but are you still making them by hand now?
Currently, yes. How can the economics of that
be viable? Williams: Right.
Yeah, we have a great team that we work with
to do that by hand.
How many can you make a day by hand?
About 250 right now.
And where are you guys selling the pizzas now?
Right now, we just launched our first larger retailer,
Earth Fare, in the Carolinas.
But we're actually gonna be launching
into a couple national retailers in Southern California --
Whole Foods... Scott: Congratulations.
...Bristol Farms, and Mother's Market.
All three? And you're delivering them frozen?
Yeah, frozen. And does it come
packaged like this? Yes, exactly like that.
O'Leary: I want to get my head around
if you hire a new employee
that is a master pizza maker,
how many can they make in a day
before they just drop on the floor?
[ Chuckles ] So, the two of us, Russ and I,
we are the first certified
professional Napoletano pizza makers.
So we do hire a deaf team.
We teach every one of them how to make these pizzas.
Why is it called pi00a?
Yeah, so pi00a is the word "pizza"
replacing the Z's with "00",
which is the type of flour we use.
So instead of all-purpose flour, semolina flour, we use 00 flour,
which is imported from Italy, so that's where pi00a comes from.
Williams: Now, there are two things that I know really well.
Number one is pizza, because I'm from Chicago.
We eat deep dish pizza. Me too.
Williams: But the other thing that I know really well
is numbers.
So I would love to know how much you guys are selling,
what revenue and when did you start?
We started about two years ago.
Our lifetime sales are at $422,000.
Last year alone, we earned $222,000.
Currently, we've made about $125,000
with the goal of meeting $350,000
by the end of the year.
Our food COGS right now are $3.64. Okay.
Our wholesale pricing is $6.50. MSRP is $13.99.
Were you profitable last year on that $222,000 in revenue?
No, we haven't made a profit at the moment.
The profit margin right now is at 30%.
With the funds we're seeking and with scale
and increased automation,
we can increase that to about 50% profit margins.
And have you raised money?
We have invested about $250,000 of our own money.
We have raised $300,000 so far. Greiner: Wow. That's a lot.
That is a lot.
What do you need from a Shark?
We need capital to assist us
in terms of purchasing the equipment.
That's a key part of our process,
and we would be able to streamline our process
with that equipment, with that automation,
and go to scale.
So we'll be able to go nationwide.
We'll be able to meet the demand that is already there.
Yeah. Receiving a lot of opportunities.
And unfortunately, we can't say yes
to all of them. Like what opportunities?
$1.4 million in revenue that we've had to turn down.
Really? From who? From food services.
Sports stadiums. And sports stadiums.
And I also just want to add, my kids are beautiful people.
Aww. They've dove in and are full time.
Myself, I support as much as I can.
I'm the company's best cheerleader.
I also work full time at a deaf university.
Amazing. I am the director
of an entrepreneurship program there.
Oh, wow! Really?
The unemployment rates for the deaf community
are about 55% -- very high. Oh, my goodness.
Oh. So it's super important
for us as a family, as deaf community members,
because we experience a lot of rejection.
We want to apply for jobs, we do apply for jobs,
and that rejection rate is so high
because people don't want to work with deaf folks.
So this is an opportunity to grow.
This is an opportunity for us to have stores
all across the nation, for people to see that,
wow, we can provide opportunities for work
for people all over the place. Wow.
You standing on this carpet today
is showing them that it's possible
and what a representation of what family looks like.
Really.
I'm gonna get emotional,
because just to see the love between the four of you,
your commitment to each other and this dream
is just awe-inspiring.
But this is just not --
I don't know anything about grocery.
I just don't yet.
And I don't want to do something
that I know I couldn't absolutely do something amazing
and help you deliver what you need to deliver.
But I will be your biggest fan and supporter,
but I just don't think I'm the right Shark for this deal.
So for that reason, I'm out.
But thank you for inspiring me today.
Thank you so much. Thank you so much.
Pizzas are a very competitive space, very competitive.
Freezer space -- very competitive.
And so, um, I wish you the very best.
An amazing story, but I'm out.
Thank you.
I think you guys are an amazing family.
And this pizza was so good.
But I don't know much about frozen food.
There's way too much competition in this space.
Sorry, but I'm out.
Thank you. We appreciate it. Thank you.
Guys, I really, like everybody here,
feel so touched.
It's so clear the love that you guys have for each other.
There's something about CODA families --
the unity, the love,
the commitment of the kids [voice breaks] to the parents.
I'm not crying, you're crying. But I'm also crying. Daniel...
[ Laughter ] You're gonna make me cry.
There's just something really beautiful.
Thank you. And it's a dream of any parent
to have your children love you so much
that they want to partner with you and work with you.
And I really commend both generations
for what you guys have built. Greiner: Yeah.
It's so clear how united you are. Scott: It is. Yeah.
But I-I just don't see this business
as investable right now.
There's way too much competition in this space.
For that reason, I'm out.
Thank you so much.
Well, there's still one Shark left.
Okay, Lori, what are you doing?
♪♪
Narrator: Four Sharks are out.
Lori is the Stein family's last chance for a deal
for their deaf and CODA family-owned pizza business,
pi00a.
I'll tell you how I feel.
I look at you and my heart fills up.
I mean, there are certain people that come here,
and it touches me.
When you said that only 50% of people that are deaf
get an opportunity to even work,
that broke my heart because it's so unfair.
You deserve a deal.
I want to be the first Shark
to have a deaf founder and family as part of my family
and give you that opportunity and lead by example.
So I'm gonna make you an offer.
I'm going to go $200,000,
but I'd like to get 15%.
And I will help blow you up in the best way imaginable.
What do you say?
Thank you so much.
Can we have a second to talk?
Yes, you can. Yes, you can.
Give us just a second.
I see $1 billion exit in the future
on this one for you, yeah.
I hope, for them.
♪♪
Okay, so first of all, thank you so much.
We definitely appreciate this offer.
We have been working so hard.
All along, we've been invisible. We want to be more visible. Oh.
And so we definitely need a Shark's help
to get nationwide, to have people to see us, finally.
And so we do want to thank you for the opportunity.
We would like to counteroffer, if we might.
So can we say 10%?
Let's say 12%, and you have a deal.
♪♪
Okay. [ Cheers and applause ]
Scott: I'm so happy for you guys!
Oh, my God. Oh, my God. Oh, my God. Thank you so much.
Rylan: Thank you. Thank you so much. Russ: Thank you.
Williams: Amazing, amazing. Oh, my God. I see you. I see you.
Amazing. You are not invisible.
Greiner: Oh, my God. I see you.
And the world's going to see you,
and they're gonna know this pizza,
and they're going to love it.
Taysia: Thank you so much. Thank you. Scott: Congratulations.
Thank you so much. Oh, you're crying.
Oh, my God. I never see him cry. It's very moving.
Very moving. Whoo!
Greiner: I never see Kevin cry.
Melody: All you have to do is start with a dream,
and then chase that dream and not let anyone tell you,
"No, you can't do it."
Persist. Persevere. Break through those obstacles.
Break through those barriers and show people that you can.
You are worth it.
You know what? It's got to start, right?
Like, it starts little places, people be seen.
They were seen today, and I... Oh, my God.
...you know, and I hope this brings such awareness...
I hope so, too. ...to everybody watching.
That's why we're Sharks.
I'm so happy they got you. Great job, Lori. Great job.
Thank you, thank you. You are the right Shark for this.
Thank you. [ Sniffles ] My goodness.
♪♪