1 00:00:01,068 --> 00:00:03,070 Narrator: Tonight on "Shark Tank"... 2 00:00:03,070 --> 00:00:04,504 What's your teacher gonna say when I call your cell 3 00:00:04,504 --> 00:00:05,739 and you're in school in the class? 4 00:00:05,739 --> 00:00:06,740 They're not gonna let you answer, 5 00:00:06,740 --> 00:00:08,742 and that really pisses me off. 6 00:00:08,742 --> 00:00:10,344 Rose is the social media queen. 7 00:00:10,344 --> 00:00:12,579 This is Rose from Poplight. I'm kinda famous on TikTok, guys. 8 00:00:12,579 --> 00:00:15,649 Robert. Hello, Maaaark. 9 00:00:15,649 --> 00:00:18,652 Everybody that sees the mat says, "That is genius. 10 00:00:18,652 --> 00:00:20,387 When are you going on 'Shark Tank'?" 11 00:00:20,387 --> 00:00:21,822 All the time. What? 12 00:00:21,822 --> 00:00:23,490 You're gonna need a hell of a lot more money 13 00:00:23,490 --> 00:00:24,691 than you think you need. 14 00:00:24,691 --> 00:00:27,160 I mean, is this just a commercial for you guys or...? 15 00:00:27,160 --> 00:00:28,896 Yeah! [ Laughter ] 16 00:00:34,134 --> 00:00:36,970 ♪♪ 17 00:00:36,970 --> 00:00:39,072 Narrator: First into the Tank is an easy way 18 00:00:39,072 --> 00:00:42,075 to brighten your living space. 19 00:00:42,075 --> 00:00:49,917 ♪♪ 20 00:00:49,917 --> 00:00:51,685 Where are they? 21 00:00:51,685 --> 00:00:53,387 [ Chuckles ] 22 00:00:53,387 --> 00:00:55,489 They changed their mind. 23 00:00:55,489 --> 00:00:56,823 [ Rooster crows ] 24 00:00:56,823 --> 00:00:58,759 Good morning, Sharks! 25 00:00:58,759 --> 00:01:00,394 I'm Caroline. And I'm Rose. 26 00:01:00,394 --> 00:01:01,895 And we're the wife-and-wife dynamic duo 27 00:01:01,895 --> 00:01:05,232 from Denver, Colorado, and we're here seeking $150,000 28 00:01:05,232 --> 00:01:08,135 for 8% in our company, Poplight. 29 00:01:08,135 --> 00:01:10,771 When we first moved in together, we needed to install wall lights 30 00:01:10,771 --> 00:01:12,072 on both sides of our bed. 31 00:01:12,072 --> 00:01:14,274 Now, Sharks, we're pretty handy, 32 00:01:14,274 --> 00:01:16,877 but installing wall lighting is a real hassle. 33 00:01:16,877 --> 00:01:18,312 Punching holes in your wall, 34 00:01:18,312 --> 00:01:21,114 running wires for electricity, patching drywall. 35 00:01:21,114 --> 00:01:22,282 Who has the time? 36 00:01:22,282 --> 00:01:23,717 We could hire an electrician to do it, 37 00:01:23,717 --> 00:01:26,820 but that could cost over $1,000. 38 00:01:26,820 --> 00:01:27,988 In this economy? 39 00:01:27,988 --> 00:01:29,089 We thought there could be a better way 40 00:01:29,089 --> 00:01:30,657 to install wall lighting, and Sharks, 41 00:01:30,657 --> 00:01:33,160 that's when we had our light-bulb moment. 42 00:01:33,160 --> 00:01:36,563 Let's show them how it's done. 43 00:01:36,563 --> 00:01:38,098 This is Poplight. 44 00:01:38,098 --> 00:01:40,133 Poplight is modern, stylish wall lighting 45 00:01:40,133 --> 00:01:42,536 that's as easy to install as it is to remove. 46 00:01:42,536 --> 00:01:44,571 Poplight installs in seconds. 47 00:01:44,571 --> 00:01:47,641 The base attaches to your wall using double-sided adhesive. 48 00:01:47,641 --> 00:01:48,909 No tools required. 49 00:01:48,909 --> 00:01:51,411 Plus, the Poplight base has a built-in level, 50 00:01:51,411 --> 00:01:53,814 so you'll always stick the landing the first time. 51 00:01:53,814 --> 00:01:55,282 -That's cool. -Oh, good idea. 52 00:01:55,282 --> 00:01:58,752 All that's left to do is swivel and click Poplight into place. 53 00:02:01,321 --> 00:02:03,490 Cuban: That's cool. Wow. Wall lighting in seconds. 54 00:02:03,490 --> 00:02:05,926 Corcoran: That's it? Plus, it's dimmable. 55 00:02:07,794 --> 00:02:09,129 Sorry. What was that, Lori? 56 00:02:09,129 --> 00:02:10,664 You want to know how Poplight's powered? 57 00:02:10,664 --> 00:02:11,832 Great question. 58 00:02:11,832 --> 00:02:13,900 Poplight is USB-C rechargeable. 59 00:02:13,900 --> 00:02:16,303 Simply pop out the battery when you need to charge it, 60 00:02:16,303 --> 00:02:18,538 or leave it plugged in if you like the look. 61 00:02:18,538 --> 00:02:20,674 Options. And we agree, Mr. Wonderful. 62 00:02:20,674 --> 00:02:21,975 Time is "shmoney." 63 00:02:21,975 --> 00:02:23,877 It is not a very executive move to have to get up 64 00:02:23,877 --> 00:02:25,278 and adjust your wall lighting. 65 00:02:25,278 --> 00:02:27,180 And that's why we created the Poplight app, 66 00:02:27,180 --> 00:02:29,449 where you can choose between three different color warmths, 67 00:02:29,449 --> 00:02:31,485 set a sleep timer, dim your Poplight, 68 00:02:31,485 --> 00:02:33,387 and control multiple at once. 69 00:02:33,387 --> 00:02:34,855 Whether you're a first-time homeowner 70 00:02:34,855 --> 00:02:37,124 moving into an apartment, setting up a dorm room, 71 00:02:37,124 --> 00:02:39,926 or just want wall lighting that's easy to install, 72 00:02:39,926 --> 00:02:42,562 Poplight is modern wall lighting designed for everyone. 73 00:02:42,562 --> 00:02:46,266 So, Sharks, who's ready to revolutionize wall lighting 74 00:02:46,266 --> 00:02:48,001 with Poplight? 75 00:02:48,001 --> 00:02:49,670 Sharks, in front of you is your very own 76 00:02:49,670 --> 00:02:51,705 gorgeous Poplight for you to check out. 77 00:02:51,705 --> 00:02:53,840 -Super cool. -Thank you. 78 00:02:53,840 --> 00:02:56,243 What happens to the wall when you take off the adhesive? 79 00:02:56,243 --> 00:02:57,644 Nothing. 80 00:02:57,644 --> 00:02:59,379 We designed Poplight so that when you remove the tape, 81 00:02:59,379 --> 00:03:00,580 you don't leave any damage on your wall. 82 00:03:00,580 --> 00:03:02,182 Herjavec: Where's the button to turn it on? 83 00:03:02,182 --> 00:03:03,884 Caroline: If you look at the bottom, 84 00:03:03,884 --> 00:03:05,786 you'll see a little power... Robert! 85 00:03:05,786 --> 00:03:06,820 ...and you just have to tap it. 86 00:03:06,820 --> 00:03:09,756 Got it. Robert. 87 00:03:09,756 --> 00:03:13,093 Greiner: So that's -- it's very -- Hello, Maaaark. 88 00:03:13,093 --> 00:03:14,261 Great idea. 89 00:03:14,261 --> 00:03:15,495 -Thank you. -Thank you. 90 00:03:15,495 --> 00:03:16,596 This is a prototype, 91 00:03:16,596 --> 00:03:18,832 so we just did our first round of tooling. 92 00:03:18,832 --> 00:03:20,967 So you have our first tooling prototypes. 93 00:03:20,967 --> 00:03:22,102 -Oh, wow. -Don't drop it. 94 00:03:22,102 --> 00:03:23,637 Rose: It's our baby. 95 00:03:23,637 --> 00:03:25,439 They did a nice job, though. The tooling looks good. 96 00:03:25,439 --> 00:03:26,640 It's very clean, yeah. 97 00:03:26,640 --> 00:03:27,874 Herjavec: How much are you gonna sell it for? 98 00:03:27,874 --> 00:03:29,676 So they retail for $95. 99 00:03:29,676 --> 00:03:31,478 And what is it going to cost you to make? For one? 100 00:03:31,478 --> 00:03:34,147 Yeah, for one. Mm-hmm, yeah. So it costs $25 to make, 101 00:03:34,147 --> 00:03:36,950 about $30 landed, $95 retail, 102 00:03:36,950 --> 00:03:39,186 which puts our profit margin around 68%. 103 00:03:39,186 --> 00:03:41,488 You're gonna sell direct to consumer only? That's kinda expensive, guys. 104 00:03:41,488 --> 00:03:43,824 Caroline: Sorry? That's kind of expensive, don't you think? 105 00:03:43,824 --> 00:03:45,058 We also ran a lot of tests. 106 00:03:45,058 --> 00:03:46,593 We found that people were more responsive 107 00:03:46,593 --> 00:03:48,662 if we priced it higher and offered a bigger discount. 108 00:03:48,662 --> 00:03:50,497 -I don't think $95 is expensive. -And offered a what? 109 00:03:50,497 --> 00:03:52,399 Offered a bigger discount, yeah. Discount. 110 00:03:52,399 --> 00:03:53,967 How long does the charge last? 111 00:03:53,967 --> 00:03:56,470 Yeah, it takes about four hours to get fully charged. 112 00:03:56,470 --> 00:03:58,572 And then the battery lasts between five and nine hours, 113 00:03:58,572 --> 00:04:00,107 depending on how bright it is. 114 00:04:00,107 --> 00:04:02,242 But you can leave it plugged in all the time using that cord. 115 00:04:02,242 --> 00:04:06,012 So I'm curious -- are there any others out there like this 116 00:04:06,012 --> 00:04:07,614 where it's an adhesive back, 117 00:04:07,614 --> 00:04:09,649 besides the ones where you pop-on, pop-off? 118 00:04:09,649 --> 00:04:11,017 You know what I'm talking about? Yeah, yeah. Tap lights. 119 00:04:11,017 --> 00:04:13,086 The under cabinet, like -- tap lights. 120 00:04:13,086 --> 00:04:14,321 -Yeah. -Thank you. 121 00:04:14,321 --> 00:04:17,057 Yeah, it actually didn't exist. So, we needed it. 122 00:04:17,057 --> 00:04:19,392 We looked for it. We couldn't find it. 123 00:04:19,392 --> 00:04:20,460 And we actually have a patent. 124 00:04:20,460 --> 00:04:22,429 So we have three patents on this. 125 00:04:22,429 --> 00:04:24,731 What do they cover? We have a design patent. 126 00:04:24,731 --> 00:04:25,966 And then we have two pending patents 127 00:04:25,966 --> 00:04:27,768 on the technology behind Poplight. 128 00:04:27,768 --> 00:04:30,003 One is the way that Poplight swivels and clicks 129 00:04:30,003 --> 00:04:32,105 and the way it's removable, the base from the wall light. 130 00:04:32,105 --> 00:04:33,440 -The base to it. -Smart. 131 00:04:33,440 --> 00:04:35,041 And then also the way the tape attaches to the base. 132 00:04:35,041 --> 00:04:36,343 And that's the part we wanted to protect, 133 00:04:36,343 --> 00:04:38,311 because that means that if you were to put another 134 00:04:38,311 --> 00:04:40,780 stick-on wall light on the wall, you would rip off the paint. 135 00:04:40,780 --> 00:04:42,115 Herjavec: Have you sold any? 136 00:04:42,115 --> 00:04:44,584 So we launched an incredibly successful Kickstarter 137 00:04:44,584 --> 00:04:45,652 at the beginning of this year. 138 00:04:45,652 --> 00:04:46,920 We did over -- Ooh, tell us more. 139 00:04:46,920 --> 00:04:51,324 We did over $178,000 in a little under four weeks. 140 00:04:51,324 --> 00:04:53,093 Despite launching at 6:00 a.m., 141 00:04:53,093 --> 00:04:56,163 we met our goal at around 22 minutes. 142 00:04:56,163 --> 00:04:59,032 Wow. And then what we're running into is inventory. 143 00:04:59,032 --> 00:05:03,069 We are slated to run out of our first run 144 00:05:03,069 --> 00:05:04,504 in about four months. 145 00:05:04,504 --> 00:05:06,373 To meet the Kickstarter order? Mm-hmm. 146 00:05:06,373 --> 00:05:08,074 And have you shipped any of that yet? 147 00:05:08,074 --> 00:05:09,242 -Not yet. -No. 148 00:05:09,242 --> 00:05:11,311 Do you have any orders outside of crowdfunding? 149 00:05:11,311 --> 00:05:13,013 We launched a website. 150 00:05:13,013 --> 00:05:14,681 Rose is the social media queen. 151 00:05:14,681 --> 00:05:17,584 This is Rose from Poplight. I'm kinda famous on TikTok, guys. 152 00:05:17,584 --> 00:05:19,085 You are? What for? A little bit. 153 00:05:19,085 --> 00:05:20,387 We went viral on TikTok. 154 00:05:20,387 --> 00:05:22,155 We've actually gone viral several times. 155 00:05:22,155 --> 00:05:24,024 But all of our sales since our Kickstarter 156 00:05:24,024 --> 00:05:25,625 have been just through organic content. 157 00:05:25,625 --> 00:05:29,095 Tell us the sales after Kickstarter online. 158 00:05:29,095 --> 00:05:30,564 It's not very exciting because we just got 159 00:05:30,564 --> 00:05:33,433 our website live. Yeah. But about $5,000. 160 00:05:33,433 --> 00:05:35,802 I'm guessing you both have other jobs still at this point? 161 00:05:35,802 --> 00:05:37,571 We both still have full-time jobs, which is great 162 00:05:37,571 --> 00:05:40,040 because it helps us fund the -- what we're doing with Poplight. 163 00:05:40,040 --> 00:05:41,474 There's nothing wrong with it. What do you guys do? 164 00:05:41,474 --> 00:05:43,877 Yeah. Well, tell us about you. What's your background? 165 00:05:43,877 --> 00:05:45,812 I've been working in tech for several years, 166 00:05:45,812 --> 00:05:47,180 working in fast-paced startups. 167 00:05:47,180 --> 00:05:49,516 I am a data whiz, and I think the most important thing 168 00:05:49,516 --> 00:05:51,484 I can tell you about myself is I'm the daughter 169 00:05:51,484 --> 00:05:53,720 of multiple generations of entrepreneurs. 170 00:05:53,720 --> 00:05:55,021 My grandfather, most importantly, 171 00:05:55,021 --> 00:05:57,691 moved to America with not much except his skills 172 00:05:57,691 --> 00:05:59,626 and built an incredible life for himself. 173 00:05:59,626 --> 00:06:01,628 And I, like, really can say if he could see 174 00:06:01,628 --> 00:06:03,797 what I'm doing right now and who I'm talking to, 175 00:06:03,797 --> 00:06:05,632 the Manischewitz would be flowing. 176 00:06:05,632 --> 00:06:07,934 It's just like, it's such an honor to be here. 177 00:06:07,934 --> 00:06:09,102 Caroline: Yeah, it really is. 178 00:06:09,102 --> 00:06:10,870 Mazel tov to your grandfather. Thank you. 179 00:06:10,870 --> 00:06:12,839 So I'm a licensed clinical social worker. 180 00:06:12,839 --> 00:06:15,475 I provide therapy to individuals and couples, 181 00:06:15,475 --> 00:06:17,844 and at the end of the day, Poplight or people, 182 00:06:17,844 --> 00:06:20,780 I just love figuring out how things work. 183 00:06:20,780 --> 00:06:23,149 All right, guys, look, the whole deal is very nascent. 184 00:06:23,149 --> 00:06:26,586 It's a total crapshoot, I think. But I'll make you an offer. 185 00:06:26,586 --> 00:06:29,155 Hold my hand. I'll give you the $150,000 for the 8%, 186 00:06:29,155 --> 00:06:34,427 but I want a royalty of $2 on it until I get back $500,000. 187 00:06:34,427 --> 00:06:36,863 Then the royalty drops to $1 in perpetuity. 188 00:06:36,863 --> 00:06:38,131 We thought you'd throw in a royalty. 189 00:06:38,131 --> 00:06:40,500 -Of course I would! -Shocking, right? Just shocking. 190 00:06:40,500 --> 00:06:42,335 It's actually a really good deal. 191 00:06:42,335 --> 00:06:44,771 That's not his worst deal ever, trust me. No. 192 00:06:44,771 --> 00:06:46,740 I think you guys are incredible. 193 00:06:46,740 --> 00:06:49,075 Or Kevin is getting softer in his old years, 194 00:06:49,075 --> 00:06:50,677 because that is a really good offer. 195 00:06:50,677 --> 00:06:52,612 -No, it's definitely us. -Yeah. 196 00:06:52,612 --> 00:06:55,982 I'd like to give you a rather simple offer. Caroline: Uh-huh. 197 00:06:55,982 --> 00:06:57,450 I'll give you the $150,000. 198 00:06:57,450 --> 00:07:00,420 I don't even want the stock, honest to God. 199 00:07:00,420 --> 00:07:02,956 But I would like to get a $20 royalty. 200 00:07:02,956 --> 00:07:04,491 $20? Yes. 201 00:07:04,491 --> 00:07:05,558 -But no equity. -Whoa! 202 00:07:05,558 --> 00:07:06,993 No equity at all. 203 00:07:06,993 --> 00:07:08,528 $20 per unit? 204 00:07:08,528 --> 00:07:10,330 -Wow. -$20 per unit. 205 00:07:10,330 --> 00:07:12,365 -Wow. -That's just brutal. 206 00:07:12,365 --> 00:07:16,169 ♪♪ 207 00:07:20,307 --> 00:07:22,108 Narrator: All Sharks are still in. 208 00:07:22,108 --> 00:07:24,244 Caroline and Rose have two offers on the table 209 00:07:24,244 --> 00:07:26,680 for their removable wall light, Poplight. 210 00:07:26,680 --> 00:07:30,417 Kevin has offered $150,000 for an 8% stake, 211 00:07:30,417 --> 00:07:34,154 plus a $2 royalty until $500,000 is paid. 212 00:07:34,154 --> 00:07:36,923 Then the royalty drops to $1 per unit sold. 213 00:07:36,923 --> 00:07:40,226 Barbara has offered $150,000 for no equity, 214 00:07:40,226 --> 00:07:42,195 but wants a $20 royalty. 215 00:07:42,195 --> 00:07:43,897 I don't think they make enough money, Barb. 216 00:07:43,897 --> 00:07:45,665 No, I think you do make enough money at $20. 217 00:07:45,665 --> 00:07:48,768 When will that end? And you keep your total stock. 218 00:07:48,768 --> 00:07:50,170 When does that end, Barbara? 219 00:07:50,170 --> 00:07:52,405 Never ending. That's the best part. 220 00:07:52,405 --> 00:07:54,708 Never, ever ending. Wow. 221 00:07:54,708 --> 00:07:55,909 Never ending. Wow. 222 00:07:55,909 --> 00:07:57,243 Herjavec: I don't know what's happened here. 223 00:07:57,243 --> 00:07:59,579 Barbara and Kevin changed spots. 224 00:07:59,579 --> 00:08:01,881 -So you're gonna be left with -- -Yeah. Yeah. 225 00:08:01,881 --> 00:08:03,550 -Nothing, yeah. -It eats into some of our -- 226 00:08:03,550 --> 00:08:06,353 -You can't invest, yeah. -That's a brutal offer. 227 00:08:06,353 --> 00:08:09,689 Caroline, Rose, you guys, I love the product. 228 00:08:09,689 --> 00:08:12,592 You two are really impressive. 229 00:08:12,592 --> 00:08:15,895 Thank you. I think you'll figure it out. 230 00:08:15,895 --> 00:08:19,966 I think Kevin made you a pretty good offer. 231 00:08:19,966 --> 00:08:22,168 I would take his offer, I gotta tell you. Really? 232 00:08:22,168 --> 00:08:23,737 Barbara's offer is absolutely nuts. 233 00:08:23,737 --> 00:08:26,373 I don't know what she's doing. There's nothing wrong with that. 234 00:08:26,373 --> 00:08:27,507 Yeah. I'm out. 235 00:08:27,507 --> 00:08:28,975 Yeah. Thank you for that. 236 00:08:28,975 --> 00:08:31,244 What are you doing, Lori? 237 00:08:31,244 --> 00:08:35,749 I am not sure about your marketplace. 238 00:08:35,749 --> 00:08:37,617 I'm familiar with quite a few things 239 00:08:37,617 --> 00:08:40,086 that stick on the wall that light up. 240 00:08:40,086 --> 00:08:41,488 So I have a little bit of concern 241 00:08:41,488 --> 00:08:43,189 about your competition. 242 00:08:43,189 --> 00:08:45,959 For those reasons, it makes me hesitate, 243 00:08:45,959 --> 00:08:47,394 and I'm out. 244 00:08:47,394 --> 00:08:49,229 There's absolutely stick-on lighting. 245 00:08:49,229 --> 00:08:51,398 One thing that keeps ours a little bit different from that 246 00:08:51,398 --> 00:08:53,833 is that the stick-on is hidden. 247 00:08:53,833 --> 00:08:55,402 So most stick-on lighting, 248 00:08:55,402 --> 00:08:57,670 it either is showing underneath the light, 249 00:08:57,670 --> 00:09:01,007 so when you remove it, you have that access to the tab. 250 00:09:01,007 --> 00:09:04,644 But then you see the plastic bits that are behind your light. 251 00:09:04,644 --> 00:09:06,913 Or even worse, you can't access the tape 252 00:09:06,913 --> 00:09:09,249 and you have to rip it off your wall and take off the paint. 253 00:09:09,249 --> 00:09:11,618 That's the win-or-lose to your business, right? 254 00:09:11,618 --> 00:09:14,287 Because if it's transient, if I can just stick it 255 00:09:14,287 --> 00:09:16,923 and then pull it off and move it when I need to move it, 256 00:09:16,923 --> 00:09:19,726 and you're the only one and that's pretty protective, 257 00:09:19,726 --> 00:09:20,727 you win. 258 00:09:20,727 --> 00:09:22,929 If you're not, you battle. 259 00:09:22,929 --> 00:09:24,931 But I'm just not convinced. Right? 260 00:09:24,931 --> 00:09:26,933 So for those reasons, I'm out. 261 00:09:26,933 --> 00:09:28,668 So can I clarify it? The question -- 262 00:09:28,668 --> 00:09:29,936 O'Leary: Hey, these guys are out. 263 00:09:29,936 --> 00:09:32,705 Time to focus on the deals now. 264 00:09:34,040 --> 00:09:37,243 Barbara, would you consider any less than $20? 265 00:09:37,243 --> 00:09:41,414 On the royalty? What do you feel you can afford? 266 00:09:41,414 --> 00:09:45,452 I think $12 would be more comfortable for us. 267 00:09:45,452 --> 00:09:47,887 -Damn. -Wow. 268 00:09:47,887 --> 00:09:51,458 If you'll take $100,000 in cash and $50,000 in a credit line, 269 00:09:51,458 --> 00:09:52,826 I'll do that deal. 270 00:09:52,826 --> 00:09:56,096 Wow. All of a sudden, a really good offer. 271 00:09:56,096 --> 00:09:57,964 Okay, guys, you gotta make a decision. 272 00:09:57,964 --> 00:10:00,433 Okay. All right. Kevin, would you consider 273 00:10:00,433 --> 00:10:03,102 having that royalty go until you hit $350,000? 274 00:10:05,205 --> 00:10:06,606 No. 275 00:10:06,606 --> 00:10:08,942 What would you consider? 276 00:10:08,942 --> 00:10:10,743 What I ga-- the offer I gave you. 277 00:10:10,743 --> 00:10:13,313 I think it's very fair. I like it a lot. 278 00:10:13,313 --> 00:10:15,181 There's absolutely no wiggle room there? 279 00:10:15,181 --> 00:10:16,749 No. Okay. 280 00:10:16,749 --> 00:10:19,619 Um, what do you think? 281 00:10:22,956 --> 00:10:24,924 Kevin, we'd love to do that offer with you. 282 00:10:24,924 --> 00:10:26,626 -What?! -Absolutely. 283 00:10:26,626 --> 00:10:28,661 -Congratulations, ladies. -Let's have some fun. 284 00:10:28,661 --> 00:10:31,097 Thank you for your consideration and your patience, for real. 285 00:10:31,097 --> 00:10:32,866 Thank you. We're so excited. 286 00:10:32,866 --> 00:10:35,468 Thank you. Congratulations, guys. Well done. 287 00:10:35,468 --> 00:10:36,503 -Thank you, guys. -Bye. 288 00:10:36,503 --> 00:10:37,570 Have a good rest of your night. 289 00:10:37,570 --> 00:10:39,272 Greiner: Bye. 290 00:10:39,272 --> 00:10:41,574 Don't you just love them? Yeah, I do. They're great. 291 00:10:41,574 --> 00:10:42,575 I think I want to adopt them. 292 00:10:42,575 --> 00:10:44,410 -They're great. -Exactly. 293 00:10:44,410 --> 00:10:46,012 How are you feeling? I'm really good. 294 00:10:46,012 --> 00:10:47,814 I can't believe that happened. 295 00:10:47,814 --> 00:10:49,883 [ Exhales ] That was wild. Yeah. 296 00:10:49,883 --> 00:10:51,217 Now that we have Mr. Wonderful, 297 00:10:51,217 --> 00:10:53,186 we are just gonna go back to the drawing board 298 00:10:53,186 --> 00:10:54,654 and keep working, keep working, keep working. 299 00:10:54,654 --> 00:10:55,822 There's so much to do with Poplight. 300 00:10:55,822 --> 00:10:57,457 We can't wait to get it out there. 301 00:10:59,826 --> 00:11:02,428 Narrator: In season 14, Ashley and Charles Young 302 00:11:02,428 --> 00:11:03,730 made a deal with Emma Grede 303 00:11:03,730 --> 00:11:06,933 for their inclusive bridesmaid gown line, Bridal Babes. 304 00:11:06,933 --> 00:11:08,968 I know this business incredibly well. 305 00:11:08,968 --> 00:11:11,971 I make inclusive sizing at both Skims and Good American. 306 00:11:11,971 --> 00:11:14,407 Let's see what they're up to now. 307 00:11:14,407 --> 00:11:16,943 Ashley: Bridal Babes is the first size-inclusive 308 00:11:16,943 --> 00:11:20,280 bridesmaid gown line for women of color and women with curves. 309 00:11:20,280 --> 00:11:24,384 After the episode aired, we were flooded with inquiries. 310 00:11:24,384 --> 00:11:27,620 So many people were excited to shop with us, support us. 311 00:11:27,620 --> 00:11:28,755 It was life-changing. 312 00:11:28,755 --> 00:11:32,559 We saw a 600% increase in web traffic. 313 00:11:32,559 --> 00:11:35,194 The exposure allowed us to switch from 314 00:11:35,194 --> 00:11:38,498 a paid advertising strategy to a more organic strategy, 315 00:11:38,498 --> 00:11:40,333 because the customers were already there 316 00:11:40,333 --> 00:11:42,402 and so invested in the brand. 317 00:11:42,402 --> 00:11:45,972 We need to make women feel seen, heard, and represented. 318 00:11:45,972 --> 00:11:48,408 Investing in Bridal Babes was a total no-brainer. 319 00:11:48,408 --> 00:11:50,109 I know this space better than most, 320 00:11:50,109 --> 00:11:52,478 and I thought their approach was just so special. 321 00:11:52,478 --> 00:11:54,714 And, ultimately, they've completely cornered the market 322 00:11:54,714 --> 00:11:56,316 when it comes to inclusive dresses 323 00:11:56,316 --> 00:11:58,117 at this beautiful price point. 324 00:11:58,117 --> 00:11:59,485 Charles: Three years before "Shark Tank," 325 00:11:59,485 --> 00:12:02,055 we had $2 million in lifetime sales. 326 00:12:02,055 --> 00:12:04,290 After closing the deal with Emma last year, 327 00:12:04,290 --> 00:12:08,194 we generated over $1 million in just one year, 328 00:12:08,194 --> 00:12:12,799 and now we've generated over $3.3 million 329 00:12:12,799 --> 00:12:15,201 in lifetime sales. 330 00:12:15,201 --> 00:12:16,469 Ashley: Today, we're hosting 331 00:12:16,469 --> 00:12:18,605 the Bridal Babes end-of-season celebration, 332 00:12:18,605 --> 00:12:20,940 where we're gonna see a fabulous fashion show, 333 00:12:20,940 --> 00:12:23,042 chat with some of our industry experts, 334 00:12:23,042 --> 00:12:26,079 and create that buzz before the upcoming wedding season. 335 00:12:26,079 --> 00:12:28,548 I'm so proud of Charles and Ashley. 336 00:12:28,548 --> 00:12:31,017 They're truly innovating for a community 337 00:12:31,017 --> 00:12:33,486 that is massively underserved in the market, 338 00:12:33,486 --> 00:12:34,954 and they're doing it for them and their family. 339 00:12:34,954 --> 00:12:37,724 This is gonna be a great legacy business for them. 340 00:12:37,724 --> 00:12:39,025 I want to thank you, Ash, 341 00:12:39,025 --> 00:12:41,260 because I told you when we were getting married 342 00:12:41,260 --> 00:12:42,795 that you had a special vision. 343 00:12:42,795 --> 00:12:47,066 Ashley: Disrupting the bridal industry has been difficult, 344 00:12:47,066 --> 00:12:48,701 but also rewarding. 345 00:12:48,701 --> 00:12:51,804 We have created this community of women 346 00:12:51,804 --> 00:12:55,375 who've been overlooked by the bridal industry for decades. 347 00:12:55,375 --> 00:12:56,843 Our kids look to us and they say, 348 00:12:56,843 --> 00:12:58,611 "I want to be an entrepreneur one day, 349 00:12:58,611 --> 00:13:00,079 just like Mom and Dad." 350 00:13:00,079 --> 00:13:02,515 It's so important for them to be able to see that 351 00:13:02,515 --> 00:13:03,783 and to be able to model it 352 00:13:03,783 --> 00:13:05,785 and know that it's possible for them as well. 353 00:13:05,785 --> 00:13:10,723 ♪♪ 354 00:13:13,259 --> 00:13:17,497 ♪♪ 355 00:13:17,497 --> 00:13:18,765 Narrator: Next into the Tank 356 00:13:18,765 --> 00:13:21,834 is a way to keep everyone dry on rainy days. 357 00:13:21,834 --> 00:13:28,908 ♪♪ 358 00:13:28,908 --> 00:13:31,511 Hello, Sharks. My name is Nathaniel Wellen. 359 00:13:31,511 --> 00:13:33,613 I'm from Los Angeles, California. 360 00:13:33,613 --> 00:13:35,848 This is my mom. This is my sister. 361 00:13:35,848 --> 00:13:38,885 And I'm seeking $100,000 362 00:13:38,885 --> 00:13:41,354 for 10% equity in my company. 363 00:13:41,354 --> 00:13:43,256 Sharks, we've all been there. 364 00:13:43,256 --> 00:13:46,125 You get caught in the rain and you take out your umbrella, 365 00:13:46,125 --> 00:13:48,628 but you're with someone of a different height. 366 00:13:48,628 --> 00:13:50,463 Maybe it's your tallest friend. 367 00:13:50,463 --> 00:13:53,766 Maybe it's your fast-walking, fast-talking business partner. 368 00:13:53,766 --> 00:13:57,804 Or, ugh, maybe it's your little sister. 369 00:13:57,804 --> 00:13:59,739 No matter how hard you try, 370 00:13:59,739 --> 00:14:03,576 the two of you can't stay dry under that tiny brim. 371 00:14:03,576 --> 00:14:06,045 There isn't even enough room for both your hands on the handle, 372 00:14:06,045 --> 00:14:08,214 so you struggle for control. 373 00:14:08,214 --> 00:14:10,016 Maybe she pulls it down to her height 374 00:14:10,016 --> 00:14:12,318 and it smacks you in the head. Aah! 375 00:14:12,318 --> 00:14:14,354 Or -- and I'm sorry it had to happen 376 00:14:14,354 --> 00:14:15,722 like this, little sister -- 377 00:14:15,722 --> 00:14:18,491 but she walks too fast to stay under the umbrella. 378 00:14:18,491 --> 00:14:21,394 She's hit by a sudden torrential downpour! 379 00:14:21,394 --> 00:14:23,096 [ Laughter ] 380 00:14:23,096 --> 00:14:26,866 Sharks, either way, no one's safe, no one's dry, 381 00:14:26,866 --> 00:14:28,668 and no one's happy. 382 00:14:28,668 --> 00:14:30,970 It's been thousands of years, 383 00:14:30,970 --> 00:14:33,106 and the standard umbrellas we use today 384 00:14:33,106 --> 00:14:34,941 have not changed much. 385 00:14:34,941 --> 00:14:37,810 That's why I invented The Duo, 386 00:14:37,810 --> 00:14:41,247 the dual-handle umbrella designed for two. Voilà! 387 00:14:41,247 --> 00:14:44,217 The Duo conveniently adds a second hidden, 388 00:14:44,217 --> 00:14:47,420 adjustable handle so that two people of different heights 389 00:14:47,420 --> 00:14:48,988 can share the umbrella at the same time, 390 00:14:48,988 --> 00:14:51,824 walk in the rain, stay safe, they stay dry. 391 00:14:51,824 --> 00:14:54,394 And most importantly, they're feeling right as rain. 392 00:14:54,394 --> 00:14:55,895 Because you know what, Sharks? 393 00:14:55,895 --> 00:14:57,930 Everyone deserves their own handle. 394 00:14:57,930 --> 00:15:00,933 The Duo comes with a 54-inch larger canopy, 395 00:15:00,933 --> 00:15:03,669 so two people comfortably fit underneath it. 396 00:15:03,669 --> 00:15:07,173 We have our compact Duo that fits in any purse or bag, 397 00:15:07,173 --> 00:15:09,175 or our stick umbrella. 398 00:15:09,175 --> 00:15:10,777 It makes you look like a million bucks. 399 00:15:10,777 --> 00:15:13,813 Either way, we've got you covered, literally. 400 00:15:13,813 --> 00:15:16,883 Sharks, again, it's been thousands of years, 401 00:15:16,883 --> 00:15:18,584 and the umbrella really hasn't changed. 402 00:15:18,584 --> 00:15:20,186 Why don't we make umbrellas 403 00:15:20,186 --> 00:15:23,189 the way they should have been created from the very beginning? 404 00:15:23,189 --> 00:15:26,926 Help me make it rain with The Duo. 405 00:15:26,926 --> 00:15:29,128 Herjavec: Yeah! [ Laughter ] 406 00:15:29,128 --> 00:15:30,396 -Good, good. -Good job. 407 00:15:30,396 --> 00:15:33,366 You sound like a kid out of a 1985 movie or something. 408 00:15:33,366 --> 00:15:34,467 -Yeah. -Thank you. 409 00:15:34,467 --> 00:15:37,170 Tom Cruise in "Risky Business." 410 00:15:37,170 --> 00:15:39,872 Okay, while my mom and sister go dry off, 411 00:15:39,872 --> 00:15:41,374 why don't you take a look at the samples 412 00:15:41,374 --> 00:15:44,477 that I have in front of you. 413 00:15:44,477 --> 00:15:47,580 Oh, wow. That is a good size for a little -- 414 00:15:47,580 --> 00:15:49,882 you know, the compact umbrella. 415 00:15:49,882 --> 00:15:51,918 Hey, how does the -- oh, you just pull it down. 416 00:15:51,918 --> 00:15:54,020 Yes. If you pull on the strap on the bottom... 417 00:15:54,020 --> 00:15:54,821 Now, where's the second handle? 418 00:15:54,821 --> 00:15:57,557 ...it'll come exactly down. 419 00:15:57,557 --> 00:15:59,559 So that umbrella... There you go. 420 00:15:59,559 --> 00:16:01,861 ...that's a prototype. That's not the final product. 421 00:16:01,861 --> 00:16:03,930 We're getting ready to go to market. 422 00:16:03,930 --> 00:16:05,598 Oh, you're a pre-revenue company. 423 00:16:05,598 --> 00:16:07,333 We are a pre-revenue company, 424 00:16:07,333 --> 00:16:09,435 but we're getting ready to go to market. 425 00:16:09,435 --> 00:16:11,737 So three things constantly bring me 426 00:16:11,737 --> 00:16:13,472 to that million-dollar valuation. 427 00:16:13,472 --> 00:16:14,874 -Tell us. -Number one... 428 00:16:14,874 --> 00:16:15,975 We can't wait to hear. 429 00:16:15,975 --> 00:16:17,610 ...our IP, our patents. I don't want to -- 430 00:16:17,610 --> 00:16:19,946 We have one utility patent granted. 431 00:16:19,946 --> 00:16:21,314 -You do? Good for you. -Yes, we do. 432 00:16:21,314 --> 00:16:23,649 -That's a big accomplishment. -But for what, Nathaniel? 433 00:16:23,649 --> 00:16:25,785 -For the idea of two handles. -Got it. 434 00:16:25,785 --> 00:16:29,088 Now, we have one other utility patent pending. 435 00:16:29,088 --> 00:16:33,359 That's for the second handle, the locking mechanism inside it. Oh. 436 00:16:33,359 --> 00:16:35,828 Nathaniel, how old are you? I'm 15 years old. 437 00:16:35,828 --> 00:16:36,796 -What?! -You're 15? 438 00:16:36,796 --> 00:16:39,332 Thank you. So I made the prototype. 439 00:16:39,332 --> 00:16:42,635 I developed the design. I even applied for and received 440 00:16:42,635 --> 00:16:45,705 that first utility patent when I was 9. 441 00:16:45,705 --> 00:16:47,573 Greiner: Oh, my gosh! You're so cute. 442 00:16:47,573 --> 00:16:49,308 That's me and my dad when I was young, yep. Aww! 443 00:16:49,308 --> 00:16:51,978 And then I got invited to the Henry Ford Museum 444 00:16:51,978 --> 00:16:54,113 to compete in the National Invention Convention. 445 00:16:54,113 --> 00:16:55,581 -Wow. -Uh, yeah, 446 00:16:55,581 --> 00:16:57,583 where I won Most Original Invention... Good for you. 447 00:16:57,583 --> 00:17:00,920 ...in the country out of 144,000 participants. 448 00:17:00,920 --> 00:17:02,455 -Wow. Good for you. -Wow. That's amazing. 449 00:17:02,455 --> 00:17:05,458 How did you get from your original idea to where it is today? 450 00:17:05,458 --> 00:17:08,394 Yeah, so that's where our partner comes in, Shed Rain. 451 00:17:08,394 --> 00:17:11,664 They are the number-one U.S. market leader for everything 452 00:17:11,664 --> 00:17:14,433 umbrellas in volume and distribution and sales. You're kidding. 453 00:17:14,433 --> 00:17:16,302 So you've already cut a deal with your manufacturer? 454 00:17:16,302 --> 00:17:17,536 Exactly. That's -- 455 00:17:17,536 --> 00:17:19,438 -Well! -Yes. They own -- 456 00:17:19,438 --> 00:17:21,040 Tell us about that deal. Don't talk to him anymore. 457 00:17:21,040 --> 00:17:22,909 They own 49% of the company. 458 00:17:22,909 --> 00:17:26,979 But they sell over 15 million umbrellas every single year. Herjavec: Wow. 459 00:17:26,979 --> 00:17:28,347 -Now you're talking. -That's smart. 460 00:17:28,347 --> 00:17:30,283 And what was the deal you did with them 461 00:17:30,283 --> 00:17:32,218 for them to get 49%? 462 00:17:32,218 --> 00:17:36,122 For 49%, they're gonna help us in the prototypes. 463 00:17:36,122 --> 00:17:38,925 They're gonna help us in manufacturing, distribution. 464 00:17:38,925 --> 00:17:40,459 They're gonna get us into places like Target, 465 00:17:40,459 --> 00:17:42,562 Walmart, Kroger, Costco. But they didn't pay you 466 00:17:42,562 --> 00:17:45,031 for that 49%. They did not, no. We're -- 467 00:17:45,031 --> 00:17:47,066 So they have equity and you have equity. 468 00:17:47,066 --> 00:17:49,669 Exactly. And you're going to share the profits 469 00:17:49,669 --> 00:17:52,538 and whatever comes into the company together. 470 00:17:52,538 --> 00:17:54,574 -Of course, yeah. -And how did they find you? 471 00:17:54,574 --> 00:17:57,944 Well, I made a cold call to Shed Rain. 472 00:17:57,944 --> 00:18:00,279 Thank you. Wow. On your own? 473 00:18:00,279 --> 00:18:02,348 Yes. You just picked up the phone and called them? 474 00:18:02,348 --> 00:18:04,317 Yeah. I e-mailed, called up, 475 00:18:04,317 --> 00:18:05,651 reached out to a bunch of companies. 476 00:18:05,651 --> 00:18:07,153 Shed Rain really stuck out. 477 00:18:07,153 --> 00:18:10,289 I formed a really good bond with their CEO, 478 00:18:10,289 --> 00:18:12,458 and their entire staff's amazing. 479 00:18:12,458 --> 00:18:14,393 Can I go back to the product for a sec? Of course. 480 00:18:14,393 --> 00:18:16,529 So what do you think you're gonna sell it for? 481 00:18:16,529 --> 00:18:17,897 There's two separate SKUs. 482 00:18:17,897 --> 00:18:21,667 The estimated landed cost for the compact is $4. 483 00:18:21,667 --> 00:18:23,436 We'll sell it wholesale for $10. 484 00:18:23,436 --> 00:18:25,972 We'll sell it direct to consumer for $25. Wow. 485 00:18:25,972 --> 00:18:29,175 The stick umbrella we manufacture, 486 00:18:29,175 --> 00:18:31,377 estimated landed cost is gonna be $8. 487 00:18:31,377 --> 00:18:33,346 We'll sell it for $20 wholesale, 488 00:18:33,346 --> 00:18:35,181 and direct to consumer is gonna be $50. 489 00:18:35,181 --> 00:18:36,849 Those aren't bad margins. Thank you. Yeah. 490 00:18:36,849 --> 00:18:38,451 And who's gonna do that, Nathaniel? 491 00:18:38,451 --> 00:18:41,087 Because you're in school. I know you have this partner. 492 00:18:41,087 --> 00:18:42,355 It's not clear what they're gonna do, 493 00:18:42,355 --> 00:18:43,723 you're gonna do. You'll figure that out. 494 00:18:43,723 --> 00:18:45,358 Well, they'll do all our distribution, 495 00:18:45,358 --> 00:18:48,628 and they'll create all the umbrellas, so -- 496 00:18:48,628 --> 00:18:50,262 They're doing all your manufacturing. 497 00:18:50,262 --> 00:18:52,131 They're doing all our manufacturing and they'll pay for it too. 498 00:18:52,131 --> 00:18:53,599 And they're fronting the money for the manufacturing. Yeah. 499 00:18:53,599 --> 00:18:55,835 So that's been clearly stated by them? 500 00:18:55,835 --> 00:18:57,203 I'm gonna go out on this 501 00:18:57,203 --> 00:18:58,537 because I don't think you have a need for a Shark. 502 00:18:58,537 --> 00:19:00,640 You've got an ideal partner, Shed Rain. 503 00:19:00,640 --> 00:19:02,675 So I really don't think you need the help of a Shark. 504 00:19:02,675 --> 00:19:05,478 I'm out. Thank you, Barbara. 505 00:19:05,478 --> 00:19:07,713 I'm very impressed with your presentation, 506 00:19:07,713 --> 00:19:09,782 but I have a basic rule. 507 00:19:09,782 --> 00:19:13,152 I have to be able to call my CEO 24 hours a day. 508 00:19:13,152 --> 00:19:14,854 I don't like the fact you're in school. 509 00:19:14,854 --> 00:19:16,789 What's your teacher gonna say when I call your cell 510 00:19:16,789 --> 00:19:18,257 and you're in school in the class? 511 00:19:18,257 --> 00:19:19,759 They're not gonna let you answer, 512 00:19:19,759 --> 00:19:21,293 and that really pisses me off. 513 00:19:21,293 --> 00:19:23,062 So for that reason, I'm out. 514 00:19:23,062 --> 00:19:24,764 Okay. Cuban: Yeah, Nathaniel, along the same lines, 515 00:19:24,764 --> 00:19:25,798 a couple things. 516 00:19:25,798 --> 00:19:28,000 One -- great example for kids out there 517 00:19:28,000 --> 00:19:29,535 that want to be entrepreneurs. 518 00:19:29,535 --> 00:19:31,103 I can't tell you how many times I hear, 519 00:19:31,103 --> 00:19:33,472 "Well, I'm too young, I'm too young, I'm too young." 520 00:19:33,472 --> 00:19:36,242 No, you picked up the phone. You called the CEO, 521 00:19:36,242 --> 00:19:38,644 created a connection, obviously met with them. 522 00:19:38,644 --> 00:19:41,580 You did that on your own. That's a great example. 523 00:19:41,580 --> 00:19:44,450 Two -- if you dilute your equity at all, even 10%, 524 00:19:44,450 --> 00:19:45,951 you're under 50%. 525 00:19:45,951 --> 00:19:48,120 And that's an issue going into what you're doing. 526 00:19:48,120 --> 00:19:50,489 I know they get diluted the same amount, 527 00:19:50,489 --> 00:19:54,026 but given the circumstances, you want to stay over 50%. 528 00:19:54,026 --> 00:19:55,995 So for those reasons, I'm out, Nathaniel. 529 00:19:55,995 --> 00:19:57,563 But congratulations on what you've done. 530 00:19:57,563 --> 00:19:58,731 It's amazing. Thank you, Mark. 531 00:19:58,731 --> 00:20:00,433 Nathaniel, here's kind of where I'm at. 532 00:20:00,433 --> 00:20:03,369 I think all the Sharks made really great points. 533 00:20:03,369 --> 00:20:04,737 Yes, you're in school. 534 00:20:04,737 --> 00:20:06,672 Yes, you're gonna get diluted. 535 00:20:06,672 --> 00:20:09,809 But you've built in a natural buyer. 536 00:20:09,809 --> 00:20:14,280 I love deals where there's a potential exit 537 00:20:14,280 --> 00:20:15,714 already built in. 538 00:20:15,714 --> 00:20:18,951 You create this product, you partner with them, 539 00:20:18,951 --> 00:20:20,986 and it takes off, 540 00:20:20,986 --> 00:20:23,089 there's no way they're not gonna buy you out. 541 00:20:23,089 --> 00:20:24,023 Great point. 542 00:20:24,023 --> 00:20:26,225 So all you gotta do, man, 543 00:20:26,225 --> 00:20:30,730 is you gotta go out there and prove it works. 544 00:20:30,730 --> 00:20:33,599 You've got the distribution. You've got that money. 545 00:20:33,599 --> 00:20:35,434 I mean, I really like the deal. 546 00:20:35,434 --> 00:20:38,204 I'll give you the $100,000 for 20%. 547 00:20:38,204 --> 00:20:39,738 You've done an amazing job. 548 00:20:39,738 --> 00:20:42,708 There are some nuances to it we can make better. 549 00:20:42,708 --> 00:20:44,710 And then I think you just gotta go market them, 550 00:20:44,710 --> 00:20:46,345 figure out the distribution. 551 00:20:46,345 --> 00:20:48,047 I can help you with all that. Thank you, Robert. 552 00:20:48,047 --> 00:20:51,117 That's my offer. And then you'd be getting in on the ground floor, too. 553 00:20:51,117 --> 00:20:52,718 [ Laughter ] Greiner: Nathaniel, let me tell you where I'm at... 554 00:20:52,718 --> 00:20:55,221 Thank you, Nathaniel. ...because he's given you an offer. 555 00:20:55,221 --> 00:20:58,224 So, first of all, you blow me away. 556 00:20:58,224 --> 00:21:02,328 You've done what so many people would die to do, 557 00:21:02,328 --> 00:21:03,829 which is you got a partner 558 00:21:03,829 --> 00:21:06,866 of the world's largest manufacturer of your idea. 559 00:21:06,866 --> 00:21:08,901 I think you have the perfect partner. 560 00:21:08,901 --> 00:21:12,605 So for those reasons, I'm gonna take myself out. 561 00:21:12,605 --> 00:21:14,373 But Robert did give you an offer. 562 00:21:14,373 --> 00:21:17,510 $100,000 for 20%. 563 00:21:17,510 --> 00:21:19,812 I'm not making it to a 15-year-old kid. 564 00:21:19,812 --> 00:21:21,680 I'm making it to a real entrepreneur 565 00:21:21,680 --> 00:21:24,817 who's done a lot of the legwork. 566 00:21:24,817 --> 00:21:28,120 What do you say? 567 00:21:28,120 --> 00:21:29,522 Can I counter? 568 00:21:29,522 --> 00:21:31,023 -Yes. -Of course. 569 00:21:31,023 --> 00:21:33,859 Would you be open to 15% for $100,000? 570 00:21:36,262 --> 00:21:38,364 I'll do it for 18%. 571 00:21:40,432 --> 00:21:42,802 You got a deal, Robert. Done! 572 00:21:42,802 --> 00:21:44,203 Ta-da! 573 00:21:44,203 --> 00:21:45,538 Congratulations. 574 00:21:45,538 --> 00:21:48,140 -Good deal. -Awesome. 575 00:21:48,974 --> 00:21:51,210 [ Laughter ] 576 00:21:51,210 --> 00:21:53,112 -Great job. -Thank you, Robert. 577 00:21:53,112 --> 00:21:56,248 -Congratulations. -Great job. 578 00:21:56,248 --> 00:21:57,816 Advice for other kid-preneurs 579 00:21:57,816 --> 00:21:59,785 is to just keep moving, keep going. 580 00:21:59,785 --> 00:22:01,887 Even if something doesn't go your way, 581 00:22:01,887 --> 00:22:04,390 just keep going for it, reach for your goals, 582 00:22:04,390 --> 00:22:06,959 and maybe you'll make a deal with Robert, 583 00:22:06,959 --> 00:22:09,094 something amazing like that. 584 00:22:13,465 --> 00:22:15,568 Kaley: Our dad invented the Cup Board Pro, 585 00:22:15,568 --> 00:22:17,903 and it was his dream to pitch it on "Shark Tank." 586 00:22:17,903 --> 00:22:20,973 Unfortunately, he passed away before he had that chance. Oh, I'm sorry. 587 00:22:20,973 --> 00:22:23,342 But we're here today to continue his legacy 588 00:22:23,342 --> 00:22:25,244 and make that dream a reality. 589 00:22:25,244 --> 00:22:26,679 One of the most heartwarming pitches 590 00:22:26,679 --> 00:22:28,881 in "Shark Tank" history was Cup Board Pro. 591 00:22:28,881 --> 00:22:30,583 As he was getting his first prototypes, 592 00:22:30,583 --> 00:22:32,885 our mom was diagnosed with breast cancer. 593 00:22:32,885 --> 00:22:34,453 Cuban: Ohh. 594 00:22:34,453 --> 00:22:37,923 And he put everything on hold to be by her side. 595 00:22:37,923 --> 00:22:39,225 And we're only able to be here 596 00:22:39,225 --> 00:22:42,261 because of how strong our parents were. 597 00:22:42,261 --> 00:22:45,264 Three lovely kids came out, 598 00:22:45,264 --> 00:22:48,133 and their father had just passed away. 599 00:22:48,133 --> 00:22:50,336 They had also lost their mother, 600 00:22:50,336 --> 00:22:53,172 and they touched all of our hearts so deeply. 601 00:22:53,172 --> 00:22:55,241 We decided to work together. 602 00:22:55,241 --> 00:22:58,043 Wow. And so all five Sharks are gonna come together -- 603 00:22:58,043 --> 00:22:58,978 [ Laughter ] Which is a rarity. 604 00:22:58,978 --> 00:23:00,246 It's a deal. 605 00:23:00,246 --> 00:23:01,914 -It's a deal. -It's a deal. All right. 606 00:23:01,914 --> 00:23:03,282 -Oh, yay. -Thank you so much. 607 00:23:03,282 --> 00:23:05,751 Greiner: We all went in together and gave them the deal, 608 00:23:05,751 --> 00:23:08,821 and they're doing fabulous today. 609 00:23:08,821 --> 00:23:10,556 Bring it in. Bring it in. 610 00:23:13,092 --> 00:23:16,896 ♪♪ 611 00:23:16,896 --> 00:23:18,764 Narrator: Next in the Tank is a product 612 00:23:18,764 --> 00:23:22,001 that helps prevent meal-time accidents. 613 00:23:22,001 --> 00:23:28,841 ♪♪ 614 00:23:28,841 --> 00:23:31,577 Hi, Sharks. My name is Berlyn Haughton. 615 00:23:31,577 --> 00:23:33,178 I'm from Franklin, Tennessee, 616 00:23:33,178 --> 00:23:37,449 and I am seeking $100,000 for 10% of my company, 617 00:23:37,449 --> 00:23:38,851 The Table Tyke. 618 00:23:38,851 --> 00:23:41,620 Meal time with kids is exhausting, 619 00:23:41,620 --> 00:23:43,689 especially when they're so little, 620 00:23:43,689 --> 00:23:45,090 they're still learning to keep their heads 621 00:23:45,090 --> 00:23:46,558 above their own necks. 622 00:23:46,558 --> 00:23:48,727 They hit their heads, they chew on tables, 623 00:23:48,727 --> 00:23:51,297 or they just create a disaster zone. 624 00:23:51,297 --> 00:23:53,532 And eating out with them? Forget about it. 625 00:23:53,532 --> 00:23:55,601 I would take my son to the restaurant, 626 00:23:55,601 --> 00:23:57,736 pull him up to the table, boom! 627 00:23:57,736 --> 00:24:00,572 He'd hit his mouth or he'd start gnawing on 628 00:24:00,572 --> 00:24:04,209 that germ-infested table edge because he's teething. 629 00:24:04,209 --> 00:24:06,712 That's why I invented The Table Tyke. 630 00:24:06,712 --> 00:24:10,849 It's the only multifunctional silicone placemat 631 00:24:10,849 --> 00:24:13,285 with a table-edge bumper. 632 00:24:13,285 --> 00:24:16,288 It's the parenting hack you won't regret buying. 633 00:24:16,288 --> 00:24:20,826 Our half-inch-tall bumper not only protects them 634 00:24:20,826 --> 00:24:24,330 from hitting their head and chewing on the table... [ Laughter ] 635 00:24:24,330 --> 00:24:28,200 ...but it also catches spills... Herjavec: Oh. 636 00:24:28,200 --> 00:24:31,470 ....making cleanup so much easier for the parents. 637 00:24:31,470 --> 00:24:34,239 You can put the food right on our non-slip grip mat. Cuban: Clever. 638 00:24:34,239 --> 00:24:37,242 As soon as they're done eating it, you can shake it off, 639 00:24:37,242 --> 00:24:40,346 roll it up, pull the loops over each end. 640 00:24:40,346 --> 00:24:42,181 Smart. The mess stays in the mat. 641 00:24:42,181 --> 00:24:44,216 As soon as you get home, you can unroll it 642 00:24:44,216 --> 00:24:45,918 and throw it in the dishwasher. 643 00:24:45,918 --> 00:24:50,089 The Table Tyke is great for snacks, meals, and activities, 644 00:24:50,089 --> 00:24:51,623 and it grows with your kids, 645 00:24:51,623 --> 00:24:54,259 from babies to toddlers to big kids, 646 00:24:54,259 --> 00:24:57,596 and now even adults. 647 00:24:57,596 --> 00:25:00,299 The Table Tyke XL 648 00:25:00,299 --> 00:25:03,202 is double the size for double the fun. 649 00:25:03,202 --> 00:25:04,870 That's for really old guys? 650 00:25:04,870 --> 00:25:06,438 [ Chuckles ] For you. For the old guy. 651 00:25:06,438 --> 00:25:10,309 This is perfect for baking, crafting, potting. 652 00:25:10,309 --> 00:25:13,612 The uses are endless, because sometimes us big kids 653 00:25:13,612 --> 00:25:15,214 like to make a mess, too. 654 00:25:15,214 --> 00:25:19,818 Sharks, don't miss out on the opportunity to roll with us 655 00:25:19,818 --> 00:25:22,454 as we are keeping babies safe, 656 00:25:22,454 --> 00:25:24,056 kids entertained, 657 00:25:24,056 --> 00:25:27,559 and messes contained with The Table Tyke. 658 00:25:27,559 --> 00:25:29,028 -Good job. Good job. -Thanks. 659 00:25:29,028 --> 00:25:30,763 Sharks, you have samples in front of you. 660 00:25:33,799 --> 00:25:35,434 Herjavec: Wow. Is a child hitting their head on the edge 661 00:25:35,434 --> 00:25:36,735 of the table a big deal? 662 00:25:36,735 --> 00:25:38,170 I actually have a friend whose baby 663 00:25:38,170 --> 00:25:39,571 knocked their tooth out. Ouch! 664 00:25:39,571 --> 00:25:42,107 Yes. The reason that I started The Table Tyke 665 00:25:42,107 --> 00:25:44,610 is because when we were eating out at restaurants, 666 00:25:44,610 --> 00:25:47,346 my younger son would always hit his mouth, 667 00:25:47,346 --> 00:25:48,680 or there's just germs. 668 00:25:48,680 --> 00:25:50,482 I'm not even a germophobe, and it grossed me out. 669 00:25:50,482 --> 00:25:51,683 So when I started talking to other friends, 670 00:25:51,683 --> 00:25:53,052 I'm like, "Do your kids do this, too?" 671 00:25:53,052 --> 00:25:55,421 And sure enough, it was, like, unanimous. 672 00:25:55,421 --> 00:25:57,356 Everybody had this problem with their kids. 673 00:25:57,356 --> 00:25:58,957 This is when my idea started. I'm like, 674 00:25:58,957 --> 00:26:01,627 if I made this mat with a bumper, would people buy it? 675 00:26:01,627 --> 00:26:04,363 Across the board, people thought it was brilliant. 676 00:26:04,363 --> 00:26:07,366 Everybody that sees the mat says, "That is genius. 677 00:26:07,366 --> 00:26:09,034 When are you going on 'Shark Tank'?" 678 00:26:09,034 --> 00:26:10,102 All the time. 679 00:26:10,102 --> 00:26:12,237 And here you are. And here I am! 680 00:26:12,237 --> 00:26:14,540 Just like that. Just like that. 681 00:26:14,540 --> 00:26:15,941 Tell us about the sales. 682 00:26:15,941 --> 00:26:18,610 So we launched at the very end of 2020. 683 00:26:18,610 --> 00:26:20,546 $10,000 in sales. 684 00:26:20,546 --> 00:26:25,217 The next year, we did $24,000. That was 100% grassroots. 685 00:26:25,217 --> 00:26:27,152 I didn't do nothing on social media. 686 00:26:27,152 --> 00:26:28,320 It was, like, really word of mouth. 687 00:26:28,320 --> 00:26:29,688 And then... 688 00:26:29,688 --> 00:26:32,891 And then my goal was to double in sales last year. 689 00:26:32,891 --> 00:26:36,028 I quadrupled in sales, did just under 100K, 690 00:26:36,028 --> 00:26:38,864 and this year projected to do 200K. 691 00:26:38,864 --> 00:26:41,233 Why do you think word of mouth hasn't carried it further 692 00:26:41,233 --> 00:26:42,935 to generate more sales? 693 00:26:42,935 --> 00:26:47,239 Over 60% of my sales last year happened in Q4. 694 00:26:47,239 --> 00:26:50,042 So we hit our boom through that word of mouth 695 00:26:50,042 --> 00:26:52,811 because I started using TikTok. 696 00:26:52,811 --> 00:26:54,179 -Ah! -Ah! 697 00:26:54,179 --> 00:26:57,850 So once I had that social proof, people are seeing it, 698 00:26:57,850 --> 00:26:59,284 then all of a sudden people are buying it 699 00:26:59,284 --> 00:27:01,019 and they're buying it again for their friends. 700 00:27:01,019 --> 00:27:02,888 So people love the product. 701 00:27:02,888 --> 00:27:05,491 I just need help getting it out there more. 702 00:27:05,491 --> 00:27:07,426 Berlyn, I have 5-year-old twins, as you may know. 703 00:27:07,426 --> 00:27:09,394 Yes, I know. I've lived this problem. 704 00:27:09,394 --> 00:27:12,164 Yeah. This is a great product. 705 00:27:12,164 --> 00:27:13,532 Thank you. 706 00:27:13,532 --> 00:27:15,033 I've done a lot of investments in this space. 707 00:27:15,033 --> 00:27:16,768 Yep. Here's the challenge. 708 00:27:16,768 --> 00:27:20,472 Is this big enough to sustain a business, 709 00:27:20,472 --> 00:27:22,841 or is it a one-hit wonder? 710 00:27:22,841 --> 00:27:25,377 So I have that concern, too. 711 00:27:25,377 --> 00:27:27,179 This is a product that people love. 712 00:27:27,179 --> 00:27:28,814 And the good thing about The Table Tyke -- 713 00:27:28,814 --> 00:27:30,315 a lot of the placemats that are out there 714 00:27:30,315 --> 00:27:32,417 are used for a very short period of time. 715 00:27:32,417 --> 00:27:36,154 My almost-8-year-old -- we literally still use this mat. 716 00:27:36,154 --> 00:27:37,923 People are willing to spend 25 bucks on it 717 00:27:37,923 --> 00:27:39,458 because they're gonna use it for years. 718 00:27:39,458 --> 00:27:40,692 But that's not good 719 00:27:40,692 --> 00:27:42,761 if I buy it once and it stays with the child. 720 00:27:42,761 --> 00:27:44,563 Yeah, what do you sell it for and what's your cost? 721 00:27:44,563 --> 00:27:47,299 So it's $24.99. It costs me $4.90. 722 00:27:47,299 --> 00:27:48,567 -Wow. -That's good margins. 723 00:27:48,567 --> 00:27:50,102 And I just lowered it by a dollar. 724 00:27:50,102 --> 00:27:51,603 So we have great margins. 725 00:27:51,603 --> 00:27:52,938 Are you doing this yourself? 726 00:27:52,938 --> 00:27:54,940 I am. So it's a one-man band. 727 00:27:54,940 --> 00:27:57,876 I have an Amazon consultant. I know what my weaknesses are. 728 00:27:57,876 --> 00:27:59,845 My strength is not Amazon. 729 00:27:59,845 --> 00:28:02,814 So I have gotten it into 80 boutiques across the country. 730 00:28:02,814 --> 00:28:05,150 We just started retail less than a year ago. 731 00:28:05,150 --> 00:28:07,319 I like the boutique space because my margins are better 732 00:28:07,319 --> 00:28:08,654 than big-box retailers. 733 00:28:08,654 --> 00:28:13,325 I need to find a PR company and get on BuzzFeed. 734 00:28:13,325 --> 00:28:15,093 That goes viral. You need to do it yourself. 735 00:28:15,093 --> 00:28:16,428 You need to -- I'm trying. 736 00:28:16,428 --> 00:28:17,596 You need to do it yourself. But I will tell you, 737 00:28:17,596 --> 00:28:20,332 having a PR company reach out for you 738 00:28:20,332 --> 00:28:22,935 on your behalf gets your e-mails read. 739 00:28:22,935 --> 00:28:25,103 Sure, but PR is not gonna get you 740 00:28:25,103 --> 00:28:27,172 the sales you want on a consistent basis. That's one piece, yeah. 741 00:28:27,172 --> 00:28:29,441 Look, it's really hard to play the PR game 742 00:28:29,441 --> 00:28:31,276 because there's so much noise out there. 743 00:28:31,276 --> 00:28:33,779 The successful companies in your space 744 00:28:33,779 --> 00:28:37,816 have figured out how to communicate on social 745 00:28:37,816 --> 00:28:39,618 and do it in a way where they acquire the customer 746 00:28:39,618 --> 00:28:42,154 just when that baby is at the right age. 747 00:28:42,154 --> 00:28:43,455 And it ain't easy. 748 00:28:43,455 --> 00:28:46,491 But I can't add a lot of value here. 749 00:28:46,491 --> 00:28:48,293 I had my kids a long time ago. 750 00:28:48,293 --> 00:28:50,062 I remember them banging their heads and everything else. 751 00:28:50,062 --> 00:28:51,230 [ Laughter ] 752 00:28:51,230 --> 00:28:53,765 It was -- I just don't even want to go back there. 753 00:28:53,765 --> 00:28:56,401 Me either! So I like to invest in products 754 00:28:56,401 --> 00:28:58,737 that I actually use so I can push my -- 755 00:28:58,737 --> 00:29:00,272 Give it five years, Kevin. 756 00:29:00,272 --> 00:29:02,274 Well, maybe the XL. That's what I'm thinking. 757 00:29:02,274 --> 00:29:03,842 No, I appreciate that. I'm gonna need the XL. 758 00:29:03,842 --> 00:29:05,477 Look, I love it, but it's not for me. 759 00:29:05,477 --> 00:29:07,446 -I understand. -I'm out. 760 00:29:07,446 --> 00:29:08,647 Well, thank you. 761 00:29:08,647 --> 00:29:09,781 You know, Berlyn, I'm kind of in the same boat, 762 00:29:09,781 --> 00:29:12,417 where I think you've done an amazing job, right, 763 00:29:12,417 --> 00:29:14,853 to go from where you started to being able to have 764 00:29:14,853 --> 00:29:17,089 a great product, putting it together yourself. Yep. 765 00:29:17,089 --> 00:29:18,590 You deserve a ton of credit. Thank you. 766 00:29:18,590 --> 00:29:20,125 But this is just not my wheelhouse. 767 00:29:20,125 --> 00:29:22,127 So for those reasons, I'm out. 768 00:29:22,127 --> 00:29:23,395 Yeah, I appreciate that. 769 00:29:23,395 --> 00:29:25,230 Greiner: Berlyn, you made a really nice product. 770 00:29:25,230 --> 00:29:28,433 There is competition out there, but in a sea of others, 771 00:29:28,433 --> 00:29:30,435 you came up with something unique. Mm-hmm. 772 00:29:30,435 --> 00:29:33,305 Sometimes it's not good to bring in an investor. 773 00:29:33,305 --> 00:29:35,741 I think you just need to keep doing what you're doing 774 00:29:35,741 --> 00:29:38,143 and make it a great living for you. 775 00:29:38,143 --> 00:29:40,379 I wish you good luck, but I'm out. 776 00:29:40,379 --> 00:29:41,580 Thank you. 777 00:29:41,580 --> 00:29:43,582 Well, I would love to have you as a partner. 778 00:29:43,582 --> 00:29:45,717 I don't want to -- Corcoran: Well, what we have here right now 779 00:29:45,717 --> 00:29:48,053 is a business that doesn't have room for a Shark. 780 00:29:48,053 --> 00:29:50,956 I think you've been terrific in what you've produced here. 781 00:29:50,956 --> 00:29:52,290 I just think you are 782 00:29:52,290 --> 00:29:54,960 on the verge of really doing a lot of sales. 783 00:29:54,960 --> 00:29:57,195 And the answer is in social media. 784 00:29:57,195 --> 00:30:00,265 Yeah. This is a time and a place for TikTok and Insta, 785 00:30:00,265 --> 00:30:02,601 but there's no room for a Shark, so I'm out. 786 00:30:02,601 --> 00:30:04,202 Yeah. Thank you. 787 00:30:04,202 --> 00:30:05,404 O'Leary: You still have one Shark left. 788 00:30:05,404 --> 00:30:06,471 Robert, what are you doing? 789 00:30:09,174 --> 00:30:12,978 Um, look, after 15 years, I want to invest in stuff 790 00:30:12,978 --> 00:30:15,514 that I think has a really big return. Yeah. 791 00:30:15,514 --> 00:30:18,950 I don't see the vision beyond a million or two. 792 00:30:18,950 --> 00:30:20,986 And I want to invest in bigger stuff. 793 00:30:20,986 --> 00:30:22,654 Yeah, I understand. It's just not for me right now. 794 00:30:22,654 --> 00:30:25,424 Okay. Fantastic design, but I'm out. 795 00:30:26,692 --> 00:30:29,294 Well, I appreciate it. Thank you so much. 796 00:30:29,294 --> 00:30:31,229 Congrats, Berlyn. Good luck. And I just really appreciate the advice, okay. 797 00:30:31,229 --> 00:30:32,464 -Thank you. -Thanks, everybody. 798 00:30:32,464 --> 00:30:33,965 -Thank you, Berlyn. -Thank you so much. 799 00:30:36,668 --> 00:30:38,437 I, of course, wanted a deal, 800 00:30:38,437 --> 00:30:40,739 but the Sharks were so complimentary. 801 00:30:40,739 --> 00:30:42,441 And, you know, they said a lot of great things 802 00:30:42,441 --> 00:30:44,443 about the product and that it is a good product. 803 00:30:44,443 --> 00:30:46,078 So getting the validity from them 804 00:30:46,078 --> 00:30:47,579 just makes me want to push even harder. 805 00:30:47,579 --> 00:30:49,581 ♪♪ 806 00:30:52,317 --> 00:30:55,620 ♪♪ 807 00:30:55,620 --> 00:30:57,089 Narrator: Next into the Tank 808 00:30:57,089 --> 00:31:01,093 is a better-for-you version of a classic snack. 809 00:31:01,093 --> 00:31:08,400 ♪♪ 810 00:31:08,400 --> 00:31:12,170 Hi, Sharks. I'm Allison Lin, co-founder of Like Air. 811 00:31:12,170 --> 00:31:13,939 I'm Steve Atieh, co-founder. 812 00:31:13,939 --> 00:31:15,707 And I'm Kevin Atieh, CFO. 813 00:31:15,707 --> 00:31:17,609 And we're from Madison, New Jersey. 814 00:31:17,609 --> 00:31:18,643 And together... 815 00:31:18,643 --> 00:31:21,012 Together: We're the snack sibs! 816 00:31:21,012 --> 00:31:24,116 Sharks, we're here today to ask for $300,000 817 00:31:24,116 --> 00:31:26,084 for a 3.5% equity stake in our company... 818 00:31:26,084 --> 00:31:27,252 -Ooh. -Ooh! 819 00:31:27,252 --> 00:31:28,320 ...Like Air. 820 00:31:28,320 --> 00:31:30,889 America is a snacking nation. 821 00:31:30,889 --> 00:31:33,024 We love snacks. 822 00:31:33,024 --> 00:31:37,162 And if you're anywhere from 6 months to 106 years old, 823 00:31:37,162 --> 00:31:39,197 our snack is for you. 824 00:31:39,197 --> 00:31:41,433 So let's say you're craving a tasty snack, 825 00:31:41,433 --> 00:31:42,901 but you don't want the guilt 826 00:31:42,901 --> 00:31:45,070 that comes with unhealthy options. 827 00:31:45,070 --> 00:31:46,738 That's where Like Air Puffcorn comes in. 828 00:31:46,738 --> 00:31:49,875 It's a delicious, light, and airy snack 829 00:31:49,875 --> 00:31:51,476 that melts in your mouth. 830 00:31:51,476 --> 00:31:54,613 And unlike popcorn, it contains no hard kernels, 831 00:31:54,613 --> 00:31:56,414 so it won't get stuck in your teeth. Huh. 832 00:31:56,414 --> 00:31:59,985 There is nothing artificial in Like Air Puffcorn. 833 00:31:59,985 --> 00:32:01,853 It's made with non-GMO corn. 834 00:32:01,853 --> 00:32:05,056 It's gluten-free and free from eight major allergens. 835 00:32:05,056 --> 00:32:08,393 The best part? It's only 50 calories per cup. 836 00:32:08,393 --> 00:32:11,229 You can have three whole cups per serving. 837 00:32:11,229 --> 00:32:12,731 While Like Air is light in calories, 838 00:32:12,731 --> 00:32:14,666 it's not light when it comes to flavor. 839 00:32:14,666 --> 00:32:16,668 Like Air comes in four delicious varieties -- 840 00:32:16,668 --> 00:32:19,704 two savory versions, Classic and White Cheddar, 841 00:32:19,704 --> 00:32:22,307 and two sweet flavors, Pancake and Cinnamon Bun. 842 00:32:22,307 --> 00:32:24,376 And would you believe that Pancake and Cinnamon Bun 843 00:32:24,376 --> 00:32:27,479 have half the sugar as the leading kettle corn? 844 00:32:27,479 --> 00:32:30,515 We've created a delicious, melt-in-your-mouth snack 845 00:32:30,515 --> 00:32:32,818 that is better than popcorn. 846 00:32:32,818 --> 00:32:34,553 So, Sharks, who's ready to take a bite 847 00:32:34,553 --> 00:32:35,687 out of the snacking market 848 00:32:35,687 --> 00:32:38,723 and help take Like Air to new heights? 849 00:32:38,723 --> 00:32:40,125 We get to try it? 850 00:32:40,125 --> 00:32:42,327 Yes, please. You have it right in front of yourselves. 851 00:32:45,197 --> 00:32:47,833 Oh, wow! This is so good. 852 00:32:47,833 --> 00:32:49,434 -Thank you. -Thank you. 853 00:32:49,434 --> 00:32:52,237 Wow! Classic is kind of our take on a movie-theater butter, 854 00:32:52,237 --> 00:32:53,472 but none of the junk. 855 00:32:53,472 --> 00:32:54,739 Do you grind the corn up into a paste 856 00:32:54,739 --> 00:32:57,309 and then use an extrusion system to puff it? 857 00:32:57,309 --> 00:32:59,211 Steve: Yeah, so it comes as a cornmeal. Ooh! 858 00:32:59,211 --> 00:33:00,812 And then it's kind of mixed with a little bit of oil 859 00:33:00,812 --> 00:33:02,080 and water, just a little bit. 860 00:33:02,080 --> 00:33:04,816 And then it's still very kind of powdery. 861 00:33:04,816 --> 00:33:07,219 And it goes right in the machine and puffs right out. 862 00:33:07,219 --> 00:33:10,322 This actually has a better flavor to me 863 00:33:10,322 --> 00:33:12,824 than movie popcorn. O'Leary: It's very, very good. 864 00:33:12,824 --> 00:33:16,561 It's probably the best low-cal snack... It's incredible. 865 00:33:16,561 --> 00:33:18,263 ...we've seen on "Shark Tank" in 15 years. 866 00:33:18,263 --> 00:33:19,364 -Thank you. -Thank you. 867 00:33:19,364 --> 00:33:21,433 How did you come up with this? 868 00:33:21,433 --> 00:33:22,901 Lin: After having my first daughter, 869 00:33:22,901 --> 00:33:25,470 I got into what she was eating, healthy snacking. 870 00:33:25,470 --> 00:33:28,506 I saw a lot of areas for innovation in the snack market. 871 00:33:28,506 --> 00:33:29,908 So I came to my brother Steve, 872 00:33:29,908 --> 00:33:31,610 and I said, "Let's start a company together." 873 00:33:31,610 --> 00:33:33,211 So in looking at all the kids' snacks, 874 00:33:33,211 --> 00:33:34,379 we wanted something that we said, 875 00:33:34,379 --> 00:33:36,581 "Okay, not just for kids, but for everyone." 876 00:33:36,581 --> 00:33:38,316 And puffcorn's something that's been around. 877 00:33:38,316 --> 00:33:40,752 There is a national brand, but it uses a lot of junk. 878 00:33:40,752 --> 00:33:43,288 So it has artificial color and artificial flavor 879 00:33:43,288 --> 00:33:45,023 and non-premium ingredients. 880 00:33:45,023 --> 00:33:46,424 So we basically took that 881 00:33:46,424 --> 00:33:48,560 and we put kind of that up-market spin on it. Mmm. 882 00:33:48,560 --> 00:33:50,161 I'm really proud of what's in there. 883 00:33:50,161 --> 00:33:51,730 I'm, like, proud to give it to my kids. O'Leary: It tastes fantastic. 884 00:33:51,730 --> 00:33:53,331 Every flavor is fantastic. Thank you. 885 00:33:53,331 --> 00:33:55,600 Steve, what were you doing when Allison called you 886 00:33:55,600 --> 00:33:58,103 and asked you to start the business with her? 887 00:33:58,103 --> 00:34:00,205 I started my career off as an investment banker, 888 00:34:00,205 --> 00:34:02,374 and then went to work at a small pharmaceutical company 889 00:34:02,374 --> 00:34:04,943 as their CFO. And then we sold that company, 890 00:34:04,943 --> 00:34:07,479 and I was kind of doing some investments on my own 891 00:34:07,479 --> 00:34:09,047 and was ready to do something new. 892 00:34:09,047 --> 00:34:10,749 Said, let's get him back to work. Yes. 893 00:34:10,749 --> 00:34:12,517 Yeah. And what were you doing, Allison? 894 00:34:12,517 --> 00:34:15,053 So I have a degree in international politics. 895 00:34:15,053 --> 00:34:16,521 I was a Fulbright Scholar. I studied conflict resolution... 896 00:34:16,521 --> 00:34:18,590 Greiner: What?! ...in Cyprus, 897 00:34:18,590 --> 00:34:19,958 worked at the United Nations... Wow! 898 00:34:19,958 --> 00:34:21,860 ...something that's a passion of mine. Amazing. 899 00:34:21,860 --> 00:34:23,328 And then, you know, I'd always wanted 900 00:34:23,328 --> 00:34:24,696 to do something kind of on my own. 901 00:34:24,696 --> 00:34:26,264 But I said, first, let me work at a startup. 902 00:34:26,264 --> 00:34:28,800 So I worked in financial technology. 903 00:34:28,800 --> 00:34:30,135 And then after having my first daughter, 904 00:34:30,135 --> 00:34:31,236 I started this company. 905 00:34:31,236 --> 00:34:34,172 Wow! What a résumé. What about you? 906 00:34:34,172 --> 00:34:36,474 I also started my career in investment banking. 907 00:34:36,474 --> 00:34:38,009 Then I worked in private equity, 908 00:34:38,009 --> 00:34:42,113 and since then I've worked in a couple high-growth startups. 909 00:34:42,113 --> 00:34:45,083 What's the price? How does it compare to normal popcorn? 910 00:34:45,083 --> 00:34:47,852 It's very similar in pricing to kind of all the bag snacks 911 00:34:47,852 --> 00:34:49,521 that are out there. How much is this? 912 00:34:49,521 --> 00:34:51,423 It retails about for $3.99. 913 00:34:51,423 --> 00:34:52,657 And wholesale? 914 00:34:52,657 --> 00:34:54,359 It's $2.50 wholesale. 915 00:34:54,359 --> 00:34:56,227 What does it cost to make a bag? 916 00:34:56,227 --> 00:34:58,263 Costs 88 cents to make. 917 00:34:58,263 --> 00:34:59,998 So we actually just invested in our own 918 00:34:59,998 --> 00:35:02,567 dedicated production line at a new... Herjavec: Really? 919 00:35:02,567 --> 00:35:04,269 ...co-packing partner in Chicago. 920 00:35:04,269 --> 00:35:05,337 -You bought the machine? -Ah, gotcha. 921 00:35:05,337 --> 00:35:06,771 Yeah, we bought the machinery. 922 00:35:06,771 --> 00:35:08,473 We spent a good amount on the machinery, 923 00:35:08,473 --> 00:35:10,241 about $2.5 million. O'Leary: Okay, let's talk about -- 924 00:35:10,241 --> 00:35:12,243 Okay, so you've raised a lot of money, then? 925 00:35:12,243 --> 00:35:15,080 We've raised about -- Which explains what you asked for, right? 926 00:35:15,080 --> 00:35:16,247 What did you raise? 927 00:35:16,247 --> 00:35:19,284 So we raised -- in 2019, we raised $800,000. 928 00:35:19,284 --> 00:35:23,655 We just raised $3.5 million more 929 00:35:23,655 --> 00:35:25,223 in our kind of growth round. 930 00:35:25,223 --> 00:35:28,059 And that's at a $23.5 million post-money valuation. 931 00:35:28,059 --> 00:35:31,830 So I'm curious, if you just raised all this money, 932 00:35:31,830 --> 00:35:33,298 what do you need from a Shark? 933 00:35:33,298 --> 00:35:35,200 Lin: It's a really competitive market. 934 00:35:35,200 --> 00:35:37,302 We need the partnership. 935 00:35:37,302 --> 00:35:38,269 What are your sales? 936 00:35:38,269 --> 00:35:40,238 2020 sales were 100K. 937 00:35:40,238 --> 00:35:43,041 2021 sales were $2.5 million. 938 00:35:43,041 --> 00:35:44,676 [ Laughs ] What?! 939 00:35:44,676 --> 00:35:46,011 Did you make any money on that? 940 00:35:46,011 --> 00:35:48,713 We did -- uh, we were break-even on that. 941 00:35:48,713 --> 00:35:50,915 Okay. What about 2022? What happened? 942 00:35:50,915 --> 00:35:53,518 So 2022 we did over $5 million in sales. 943 00:35:53,518 --> 00:35:54,719 -Wow! -Make money on that? 944 00:35:54,719 --> 00:35:57,756 We did not make money on that. We lost 190K. 945 00:35:57,756 --> 00:35:59,157 -How is that possible? -So where did all the money go? 946 00:35:59,157 --> 00:36:00,925 Was it just new equipment or -- 947 00:36:00,925 --> 00:36:03,228 Okay, all right, so salaries, inventory distribution. 948 00:36:03,228 --> 00:36:06,664 We did 5.2 gross in 2022. 949 00:36:06,664 --> 00:36:10,402 And then trade spend was about 16% to get to net sales... 950 00:36:10,402 --> 00:36:12,070 -16%? -...which was 4 1/2. 951 00:36:12,070 --> 00:36:13,838 So you're paying to get on the shelf. 952 00:36:13,838 --> 00:36:15,540 It's hard to do that because you're competing 953 00:36:15,540 --> 00:36:17,575 in a really mature market -- popcorn. 954 00:36:17,575 --> 00:36:19,544 Totally. So it's, how do we stand apart, right? 955 00:36:19,544 --> 00:36:22,547 So it's all about distribution. So right now we sell in Kroger, 956 00:36:22,547 --> 00:36:24,416 the number-one retailer in the country. 957 00:36:24,416 --> 00:36:27,786 We're working with launching at all 2,200 Albertsons banners. 958 00:36:27,786 --> 00:36:30,355 So, guys, you left out 2023. 959 00:36:30,355 --> 00:36:32,524 The plan for -- is to do over 10 this year. 960 00:36:32,524 --> 00:36:34,392 And so what do you think you'll end up 961 00:36:34,392 --> 00:36:37,262 on a free cash-flow basis? You're investment bankers. 962 00:36:37,262 --> 00:36:40,799 On that $10 million, what's left over? 963 00:36:40,799 --> 00:36:43,535 So the plan for the year 964 00:36:43,535 --> 00:36:47,005 is to burn about $1 million in cash. 965 00:36:47,005 --> 00:36:48,339 Why can't you -- Okay, that says a lot about your -- 966 00:36:48,339 --> 00:36:50,642 That doesn't -- Yeah. That's the wrong answer. 967 00:36:50,642 --> 00:36:51,943 No, it's not the wrong answer. I think so. 968 00:36:51,943 --> 00:36:53,478 It just says a lot about their goal. 969 00:36:53,478 --> 00:36:55,647 So if you're spending this way and you're willing to lose 970 00:36:55,647 --> 00:36:58,116 $1 million on $10 million, $12 million in sales, 971 00:36:58,116 --> 00:37:00,218 you must have very big ambitions. 972 00:37:00,218 --> 00:37:01,920 So what comes next? 973 00:37:01,920 --> 00:37:03,354 Yeah. So, we do have big ambitions. 974 00:37:03,354 --> 00:37:05,824 We really think we can grow this thing quickly. 975 00:37:05,824 --> 00:37:07,892 That's kind of why we're here. We need some help. 976 00:37:07,892 --> 00:37:09,627 It's kind of a no-brainer to be here. But you don't. 977 00:37:09,627 --> 00:37:12,163 Open doors. To open doors. 978 00:37:12,163 --> 00:37:14,632 Come on. You don't need us to open doors on this. 979 00:37:14,632 --> 00:37:17,535 You're at the point now where your sales speaks for themselves 980 00:37:17,535 --> 00:37:19,637 because everybody sees all the reporting. 981 00:37:19,637 --> 00:37:22,807 And so anybody who would be able to sell this in volume at retail 982 00:37:22,807 --> 00:37:24,075 just looks at the reports and says, 983 00:37:24,075 --> 00:37:26,244 "Oh, my goodness, Like Air is moving up the charts. 984 00:37:26,244 --> 00:37:27,579 We're interested." 985 00:37:27,579 --> 00:37:29,814 So, I mean, is this just a commercial for you guys? 986 00:37:29,814 --> 00:37:35,553 ♪♪ 987 00:37:39,724 --> 00:37:41,392 Narrator: All Sharks are still in, 988 00:37:41,392 --> 00:37:43,528 but Mark is suspicious about Kevin, Allison, 989 00:37:43,528 --> 00:37:46,064 and Steve's real motivation for coming in the Tank 990 00:37:46,064 --> 00:37:48,633 with their puffed-corn snack business, Like Air. 991 00:37:48,633 --> 00:37:50,468 Cuban: I mean, is this just a commercial for you guys? 992 00:37:50,468 --> 00:37:52,036 Here's a good example. No. 993 00:37:52,036 --> 00:37:53,671 So at a big retailer like Kroger, 994 00:37:53,671 --> 00:37:56,875 we've only been on-shelf at Kroger in the last 15 months. 995 00:37:56,875 --> 00:37:58,309 We've never gotten off-shelf. 996 00:37:58,309 --> 00:38:00,278 Like, about 70% of salty snacks are sold 997 00:38:00,278 --> 00:38:01,880 on display and on promotion. 998 00:38:01,880 --> 00:38:03,214 So we need to get off-shelf. 999 00:38:03,214 --> 00:38:05,416 Steve, you talked about big ambitions. 1000 00:38:05,416 --> 00:38:08,753 We heard the $10 million. What's the big ambition? 1001 00:38:08,753 --> 00:38:12,790 So we think we can do, in 2024, about $30 million 1002 00:38:12,790 --> 00:38:14,392 and then kind of go from there -- $50 million 1003 00:38:14,392 --> 00:38:16,594 and then potentially $80 million the year after that. 1004 00:38:16,594 --> 00:38:18,263 Guys, you're very, very impressive. 1005 00:38:18,263 --> 00:38:21,699 I mean, you definitely have the team to pull this off. 1006 00:38:21,699 --> 00:38:25,303 The problem for me is 3.5% -- I don't get out of bed for 3.5%. 1007 00:38:25,303 --> 00:38:27,639 I don't even -- I'll do that deal and forget about it. 1008 00:38:27,639 --> 00:38:29,908 This journey isn't for me, guys. I'm out. 1009 00:38:30,842 --> 00:38:32,577 -Okay. Thank you. -We appreciate it. 1010 00:38:32,577 --> 00:38:34,078 Corcoran: Let me share with you a happy story 1011 00:38:34,078 --> 00:38:36,314 that turned out not so happy in the end. Okay. 1012 00:38:36,314 --> 00:38:39,584 Yeah. I invested in a company called Pipcorn 1013 00:38:39,584 --> 00:38:43,154 when they had one snack. Now they have 68. 1014 00:38:43,154 --> 00:38:45,757 Phenomenally successful by anyone's standard. 1015 00:38:45,757 --> 00:38:48,626 They have just passed $70 million in sales. Yeah. 1016 00:38:48,626 --> 00:38:51,162 I only invested $100,000 in their business. 1017 00:38:51,162 --> 00:38:53,865 I took 20%. Boy, was I happy. 1018 00:38:53,865 --> 00:38:55,400 But with all their seed rounds, 1019 00:38:55,400 --> 00:38:57,735 with all the following rounds that happened, 1020 00:38:57,735 --> 00:39:00,972 I found my investment was shrinking up like crazy. 1021 00:39:00,972 --> 00:39:03,341 They're hoping to sell, as I am hoping they sell. 1022 00:39:03,341 --> 00:39:05,143 But what I want to say is you're gonna need 1023 00:39:05,143 --> 00:39:07,779 a hell of a lot more money than you think you need. 1024 00:39:07,779 --> 00:39:11,049 You're gonna need millions of dollars to make it a home run. 1025 00:39:11,049 --> 00:39:12,450 By the time you get there, 1026 00:39:12,450 --> 00:39:14,319 you will have your investors watered down 1027 00:39:14,319 --> 00:39:16,387 and you will be putting so much money in there. 1028 00:39:16,387 --> 00:39:18,356 I don't think I want to go on that long trip with you. 1029 00:39:18,356 --> 00:39:20,358 Barbara -- So I'll be out. 1030 00:39:20,358 --> 00:39:21,659 -Okay. Thank you. Barbara. -Thank you, Barbara. 1031 00:39:21,659 --> 00:39:23,061 Appreciate it. -Thank you, Barbara. 1032 00:39:23,061 --> 00:39:26,931 Herjavec: Guys, I can't fault you for anything. 1033 00:39:26,931 --> 00:39:30,001 I mean, incredible growth, incredible sales. 1034 00:39:30,001 --> 00:39:32,270 It's just not the reason I'm on "Shark Tank." 1035 00:39:32,270 --> 00:39:36,074 I'm on "Shark Tank" to add value where I can help with people. 1036 00:39:36,074 --> 00:39:39,477 3.5% doesn't interest me. I wish you all the best. 1037 00:39:39,477 --> 00:39:41,579 I'm out. 1038 00:39:41,579 --> 00:39:43,514 And, Mark, we'd just like to say that we do think 1039 00:39:43,514 --> 00:39:46,784 that this is a real return opportunity of many multiples, 1040 00:39:46,784 --> 00:39:48,653 tens of times your money back. 1041 00:39:48,653 --> 00:39:50,121 We're looking for a home run. 1042 00:39:50,121 --> 00:39:51,656 We're not looking to hit a single and -- 1043 00:39:51,656 --> 00:39:53,224 I hear you, Steve, but I think to Barbara's point, 1044 00:39:53,224 --> 00:39:54,325 you're gonna need more money. 1045 00:39:54,325 --> 00:39:55,760 It's gonna be multiple rounds. 1046 00:39:55,760 --> 00:39:59,197 By the way, I'm the tall, good-looking one, Robert. 1047 00:39:59,197 --> 00:40:00,665 Mark's on the other side. 1048 00:40:00,665 --> 00:40:02,500 [ Laughter ] 1049 00:40:02,500 --> 00:40:03,968 Thank you, Robert. Thank you. 1050 00:40:03,968 --> 00:40:08,273 Well, listen, I'll take a flier and give you an offer, okay? 1051 00:40:08,273 --> 00:40:11,843 I will give you $300,000. 1052 00:40:11,843 --> 00:40:16,147 I would go 7.5% 1053 00:40:16,147 --> 00:40:19,384 if I'm non-dilutable. 1054 00:40:19,384 --> 00:40:21,019 I don't know if your other partners... 1055 00:40:21,019 --> 00:40:23,254 That's called a ratchet. You know these guys are bankers, right? 1056 00:40:23,254 --> 00:40:24,322 ...will go with that. 1057 00:40:24,322 --> 00:40:26,124 I don't know if they'll go for this, 1058 00:40:26,124 --> 00:40:29,327 but I'm -- you know, listen, you want a Shark for a reason. 1059 00:40:29,327 --> 00:40:32,096 You want a Shark because of their cachet 1060 00:40:32,096 --> 00:40:33,665 and their connections. 1061 00:40:33,665 --> 00:40:35,800 And that means the Shark has to work for you 1062 00:40:35,800 --> 00:40:37,502 in a different way than your other investors. 1063 00:40:37,502 --> 00:40:39,304 I don't have to explain what a non-dilutable -- 1064 00:40:39,304 --> 00:40:41,506 -Steve knows what this is. -Yeah, we're well aware. 1065 00:40:41,506 --> 00:40:43,441 Just for the sake of those that don't understand it, 1066 00:40:43,441 --> 00:40:44,742 that means whatever happens 1067 00:40:44,742 --> 00:40:47,078 in whatever future rounds of financing you do, 1068 00:40:47,078 --> 00:40:49,814 Lori never goes below 7.5% equity. 1069 00:40:49,814 --> 00:40:52,350 And another term for it is called a ratchet 1070 00:40:52,350 --> 00:40:53,952 because it really hurts, 1071 00:40:53,952 --> 00:40:56,521 but it keeps her at 7.5% in perpetuity. 1072 00:40:56,521 --> 00:40:59,390 It doesn't hurt if they see the value in your Shark. 1073 00:40:59,390 --> 00:41:01,492 There's another term for it -- crazy. 1074 00:41:01,492 --> 00:41:03,895 Ooh. We wouldn't say that. 1075 00:41:03,895 --> 00:41:06,597 Would you rather me not do that and want a higher percent? 1076 00:41:06,597 --> 00:41:09,400 No. Uh, we're open to talking about it and... 1077 00:41:09,400 --> 00:41:11,002 Let's counter. We'd love to counter. 1078 00:41:11,002 --> 00:41:12,370 Yeah, we'd love to hear what you would... 1079 00:41:12,370 --> 00:41:14,939 Okay. Well, why don't you counter before I give you 1080 00:41:14,939 --> 00:41:16,074 a different creative offer? 1081 00:41:16,074 --> 00:41:18,309 I think we would propose 7.5% but dilutable. 1082 00:41:18,309 --> 00:41:19,877 We would say that we don't think 1083 00:41:19,877 --> 00:41:21,346 we're gonna need to raise again if we do -- 1084 00:41:21,346 --> 00:41:24,615 How about 10%? 1085 00:41:24,615 --> 00:41:26,784 And dilutable? Dilutable. 1086 00:41:26,784 --> 00:41:29,954 And dilutable? We would say I think we would want -- 1087 00:41:29,954 --> 00:41:32,023 It might wind up in the same place, I don't know. 1088 00:41:32,023 --> 00:41:35,226 Would anybody else be interested in joining at that 10% 1089 00:41:35,226 --> 00:41:37,795 for two Sharks? Kevin: We haven't heard from Mark. 1090 00:41:37,795 --> 00:41:39,430 For 10%, I would do it, yeah. We would do that deal. 1091 00:41:39,430 --> 00:41:41,666 -Two vegan flavors. -Yeah. 1092 00:41:41,666 --> 00:41:45,503 Well, Mark and I would do that deal for 10%. 1093 00:41:48,239 --> 00:41:50,041 -You guys have a deal! -Okay! 1094 00:41:50,041 --> 00:41:52,310 [ Cheers and laughter ] 1095 00:41:52,310 --> 00:41:53,511 Corcoran: Nice job. 1096 00:41:53,511 --> 00:41:56,247 -Appreciate you, man. -Thank you very much. 1097 00:41:56,247 --> 00:41:57,749 -Congratulations. -Oh, thank you guys so much. 1098 00:41:57,749 --> 00:42:00,118 We're so excited. -You're welcome. Yay! 1099 00:42:00,118 --> 00:42:02,387 Thank you. Everywhere in America, here we go. 1100 00:42:02,387 --> 00:42:04,522 Thank you, guys. Thank you, everyone. Thank you. 1101 00:42:04,522 --> 00:42:06,791 Great presentation. 1102 00:42:06,791 --> 00:42:09,160 -Hell yeah! -Yeah! 1103 00:42:09,160 --> 00:42:11,129 Steve: 10% -- we weren't looking to do it, 1104 00:42:11,129 --> 00:42:12,530 but it's all about partnership. 1105 00:42:12,530 --> 00:42:14,832 We'd rather have a smaller piece of the pie for the future 1106 00:42:14,832 --> 00:42:16,000 because that's what it's all about. 1107 00:42:16,000 --> 00:42:18,102 It's a really competitive space, salty snacks. 1108 00:42:18,102 --> 00:42:21,539 So having Mark and Lori on board with us 1109 00:42:21,539 --> 00:42:23,007 will just help open doors. 1110 00:42:28,780 --> 00:42:31,783 -- Captions by VITAC -- 1111 00:42:31,783 --> 00:42:40,158 ♪♪ 1112 00:42:40,158 --> 00:42:48,499 ♪♪ 1113 00:42:48,499 --> 00:42:56,316 ♪♪