Narrator: Tonight on "Shark Tank"...
When we tell people you can light
and eat the candles, their jaws drop.
Introducing the world's first robotic chef.
No way.
Which one of you is ready to be the coolest Shark?
It's not going anywhere.
Oh, my God. That's gonna be a meme.
Is this really that big a problem?
You came to the Advice Tank.
We want to build a brand.
I really don't trust the execution.
You're trying to find the hole in my story, right?
I see a thousand holes.
Ooh, tough Shark.
♪♪
Narrator: First into the Tank is a product
that takes cooking into the future.
♪♪
Hi, Sharks. My name is Assaf.
And I'm here raising $500,000
for 4% equity in my company, Chefee Robotics. Wow.
Sharks, we all know how hard it can be
to cook healthy, fresh meals while juggling our busy lives.
How many millions of parents around the world
care about the nutrition of their families
but they hate cooking, don't know how to do it,
don't have time to do it, or just plain suck at it?
Well, what if all of that could change?
What if cooking was so easy,
you could literally walk into your home
and talk to your kitchen?
Nice.
Sounds like science fiction?
Not anymore.
Forget self-driving cars
and start thinking self-cooking kitchens.
Introducing Chefee, the world's first embedded robotic chef.
From meal planning and cooking to tracking nutrition
and, yes, even ordering the groceries,
Chefee will do it all.
Here's how easy it is to use.
Just once a week, you'll restock ingredients,
then open the Chefee app to place an order.
Chefee will do the rest,
weighing, combining, dispensing, and cooking.
So, Sharks, who's ready to bring personal private chefs
to everyone with Chefee?
You got to show us how it works. You got to show us how it works.
Greiner: Yeah. Oh, of course. Let's do it.
In front of you are three dishes that Chefee prepared.
We have Spanish paella... Okay.
...spicy ratatouille, and tofu tikka masala.
So Chefee made this? Yes.
And as my mom would say, bete'avon,
which means bon appétit. Wow!
It's good. Greiner: Paella's good.
Herjavec: The chicken paella's amazing.
Can you add, like, spices and stuff?
Of course, of course, so you can customize it here...
Oh. ...based on ingredient,
if you're allergic to anything, and so forth.
This tastes great. Let's see it work.
Alright, I'm gonna customize the recipe.
I'm gonna select the number of servings.
I can even schedule it. I'm going to say right now.
And Chefee receives the order.
That curry is delicious.
Really good, isn't it? Really.
Yeah. It's my favorite.
Ta-da!
Just like magic. Greiner: What?!
Chefee comes out of your counter,
and the first thing it does,
it picks up the lid of the cooker.
It's gonna invert it.
No way. It seems unbelievable.
The future is here, Barbara. Wow.
Chefee is made of two parts, upper and lower.
The upper stores and dispenses ingredients.
The upper fits into a standard upper kitchen cabinet.
Okay. Wait. What's it doing now?
So right now it's dispensing and weighing.
So it goes under. Yep.
And based on what you put in the app...
Exactly. ...it's going to put the materials in.
Correct. What about fresh things like proteins?
Right, so the left side is refrigerated.
So we have a refrigeration module
built specifically for Chefee.
But you're not ordering from you.
No, we're a robotics company.
For the groceries, that's a subscription model.
One of them is integration with Instacart or Amazon Fresh.
You're in the robot business.
That's what we do. We do the tech.
So now it has the material. What's it doing now?
Yep, it's gonna pour it right into the cooker.
Is that a standard cooker or yours? Right.
We don't reinvent the wheel.
We're not here to build a cooker.
We're here to build a robotic ecosystem
that automates your appliances.
So it's a vending machine connected to a bowl.
Far more than that, but, yes, if it looks that simple,
then we've done a great job in hiding the complexity.
It works with any stovetop?
No, so these are cookers. They're inside of it. Oh, so you provide that.
But these are yours.
Correct. It's an induction cooker. Greiner: Okay.
So it's all incorporated. All incorporated.
You can install these in any modern kitchen on the planet.
So what is this going to cost me if I say, "I love Chefee.
I saw it on 'Shark Tank.'
I want the whole thing, including installation
and I hope a maintenance contract.
There's a lot of moving parts."
What's that going to cost me?
For the value-engineered version of Chefee,
as low as $9,500 is what we want to launch with.
10 grand? Right, all the way up to --
That's a big buy-in. That's 10 grand?
Yes. Everything I see here?
The refrigeration will probably not be included in the 10 grand,
because it goes from $9,500
all the way up to a premium version, which we want to --
Which -- How much is the premium version?
We're thinking between $40,000 and $50,000.
Holy God, that's a lot. Wow, so at $40,000 to $50,000,
what do I get that I don't get at $10,000?
So you would get more ingredients, right?
So you'll be able to make a lot more things.
So how are you going to bring this to market?
Have you done it yet? Have you sold any?
If you have, what are your sales?
What does it cost to make one?
What does it cost to acquire a customer?
The numbers. That's what I want.
First of all, we are pre-revenue.
Okay, we haven't launched.
We have a $500,000 signed LOI from a high-end
kitchen remodeling company already in Palm Springs.
Now, in terms of where we're going,
we're going all in with social media and organic marketing.
And we've also shown this already to builders, designers,
high-end kitchen appliance companies like Wolf Sub-Zero.
I presented this a year and a half ago
face-to-face with one of their top execs.
He loved it.
The idea with someone like Sub-Zero
is that they would rebrand this?
That would be a licensing play.
Okay. Is that your go to market --
It's not. It's not necessarily.
So everything is on the table. That's the beauty.
Let's talk about strategic partnerships
with celebrity chefs, right,
partnerships with builders, designers.
We've been hosted by high-end designing locations
in Austin, Texas.
What do you mean you've been hosted?
You've actually installed these units?
So we installed three total, so one in our investor's home,
one in our HQ, and now you're seeing this.
So why haven't you shipped already?
Because I don't want to overpromise, under-deliver.
I want to do the opposite.
That's the sales pitch, right?
Why specifically are you not shipping yet?
Oh, we're not shipping, which is why we're here.
We're raising $500,000 to get to manufacturing.
How much have you raised so far?
$450,000, and I injected 90K of my own money, as well.
For the $10,000 unit, what's your cost to make it?
About $1,500 materials, $1,000 in labor.
So let's just be clear here.
You're not a robotics company. You're an integration company.
You're taking off the shelf or stuff you've licensed,
and maybe you've written some software
and you have some IP
and you're doing that to integrate it, right?
You're not manufacturing the individual components yourself.
Is that true? That's a great question.
So, we are a robotics company.
We have patents pending in the U.S. and abroad
specifically for the entire system, the custom parts,
and the embedded form factor.
I spent a thousand hours on this.
I've learned everything from mechanical engineering,
3-D printer -- I slept under the 3-D printers
in the office for weeks to get this done.
So, yes, we're not producing the motors,
but we're absolutely creating the entire robotic system.
That's an integrator.
There's nothing wrong with that. Nothing wrong with that.
No, I'm not saying there's anything wrong,
but you got to say who you are and what you're doing
and what's working, what's not working,
because if we're going to understand
how you get to a product,
we have to understand why you're not already there.
If you truly created something
that is so differentiated, so unique,
when you're in an industry
when everybody and their brother, it seems like,
is coming out with a new robotics space system,
there should be so much money being thrown at you
that you can't even keep up with it.
Well, but -- Now I see you're trying to find the hole
in my story, right?
I see a thousand holes.
I don't see any.
I have a question to fill a hole.
I want to buy the product.
I want to put it in my Miami kitchen.
Who's going to maintain it for me when it stops working?
Because it's such a simple, elegant system,
we can actually piggyback on platforms like TaskRabbit.
Oh, you're killing me.
All they need is plumbing -- the plumbing experience.
A handyman can install this.
Corcoran: Let me clear the deck.
It sounds sexy, definitely.
I was like, "Whoa." You know, this is something
I'd love, but I really don't trust the execution.
I'd be afraid to call and say mine is broken, so I'm out.
You have the other Sharks.
Assaf, regardless of what you've built
or haven't built from an IP perspective,
it's a beautifully designed, integrated machine.
I'll give you that. Thank you.
But if I don't want to cook, there's lots of other services
where people can make well-prepared food packages
that show up that don't cost $10,000.
I just don't know if I see the market.
I'm out.
Let me tell you guys a quick --
Assaf, do you have one of these in your home?
Yeah, in our HQ.
You use it every day?
Not every day, but we've used it a lot.
And let me tell you the experience --
And what do you do if you want a baked potato?
Order an Uber Eats. No, I'm serious.
I want to hit the market with something that's beautiful,
can make you hundreds of dishes from scratch.
But yeah, I can't make you everything on the planet.
But we can make a lot of potato dishes.
You're like all inventors, right?
You are so excited. You are so passionate.
But I don't understand how well this will adopt.
And maybe I'll be kicking myself down the road.
But for today, I wish you good luck.
But I'm out.
I'm not worried about the price of this.
I know the other Sharks are, but I know
there's a high-end market for tricking out kitchens
because I buy Sub-Zero products.
That's why I was interested in hearing more
about the Sub-Zero deal, because if they take it over,
rebrand it, and provide their maintenance contract,
that would be interesting.
But I'm choking on the 4%.
I mean, the next time you raise money, I get diluted.
We're here, open to negotiation.
Look, I'll make you an offer.
I don't care if you like it or you don't.
Narrator: Three Sharks are out, but Kevin is interested
in Assaf's robotic chef company, Chefee.
Look, I'll make you an offer.
I don't care if you like it or you don't.
I'll give you the $500,000. I want 15%.
Thank you for that offer. Yes. It's reasonable.
Cuban: Assaf, I'll simplify things.
I think it looks great conceptually.
Makes sense.
Technically, not quite sure
whose pieces and parts you integrated,
but the reality is, there's no way you did it from scratch
and created everything in a couple years for $450,000.
The fact that you think it's so crazy
that we did this tells me that,
"Holy [bleep] yeah, we have done it."
No, that's not what I'm saying at all.
I'm saying you haven't said anything
about the technology at all. You've described it
and you've sold the value proposition, which is great.
But I know a little bit about robotics.
I know about, you know, operating systems
and I know about integration.
If you want, I can shut off sales
and go technical and geek out with you from now
until -- for an hour. Fire away.
-Okay. -Oh, please don't.
Mark, are you going to do this deal or not?
No. I'm out.
So, I am the only chef up here.
Chef Wonderful. I'm a real chef.
I'm putting myself out of business.
Mr. Wonderful. Yes.
Can I counter you with 8%?
No.
No. The journey is binary on this thing.
I think the only way to actually make this work
and sell hundreds of thousands of installations
is with licensing.
And you're gonna find that out without me or with me,
because the maintenance is gonna be paramount.
Would you be willing to go down to 12%?
No.
Ooh, it's a tough Shark.
I know. 12%, 15%, does it really make a difference?
I'm trying to save. Um...
All right, Mr. Wonderful, we got a deal.
Wow.
Congrats, Kevin.
Let's focus on how we can actually make some money.
Let's go and see Sub-Zero.
-Congrats, Assaf. -Good luck.
-Congratulations. -Good luck.
Thanks, guys.
I think Mark is going to absolutely regret
missing this opportunity with Chefee,
but Kevin is a perfect match.
He understands the space, he has connections.
He understands strategic moves that Chefee could take,
and I'm super excited to work with somebody of that caliber.
Narrator: In season 14, Fiona Co Chan made a deal
with Mark Cuban
for her clean makeup brand Youthforia.
I'm worth it. I'll even go do demos.
You'll do demos? Yes.
He's going to look terrible with that makeup on.
Narrator: Let's see what she's up to now.
Chan: At Youthforia,
we create makeup you can sleep in
with the added benefit of skincare.
Before I pitched the Sharks, we had two employees,
we were doing $6,500 a day,
and we had $2 million in lifetime sales.
Now, nine months later, we have 10 employees
and we're doing $15,000 a day in sales.
Since "Shark Tank,"
Youthforia has sold over $8 million in product.
[ Cheers and applause ]
Today we're at Ulta Beauty launching
our newest foundation. you can sleep in.
We're going to demo our products on real customers,
help them shade match, and get real-time customer feedback.
And Mark, I don't know if you remember this,
but in the Tank you said you were going to demo our products,
so today we're going to do that.
I can't wait. Let's go.
Cuban: It's exciting for Youthforia to be in Ulta
simply because everybody comes here, right?
You want to be where the traffic is,
and Ulta has an amazing reputation
for just being the place to go for hair,
makeup, all the things that you want.
Chan: One of the biggest challenges to creating
a foundation you can sleep in
was that our formula cost was really expensive,
so it was really challenging trying to figure out
how could we even launch this.
And without Mark Cuban's investment,
I don't know that we would be able to afford to launch this.
And here we are in over 600 stores nationwide.
All right, guys, ready to see Mark get his foundation match?
[ Cheering ]
Cuban: Youthforia is an amazing product,
Fiona is an amazing entrepreneur,
and this gives us a chance to expand our shelf space,
and we can stand out among all the other brands
and just be spectacular.
So how do I look?
[ Cheering ]
Chan: My advice for future entrepreneurs
that want to break into a saturated market
is to just trust your gut.
When I pitched on "Shark Tank,"
I did not know if we would ever be able to launch a foundation,
but I wore it because I wanted to feel confident in the Tank.
And now here we are, one year later,
being able to launch our foundations
and I get to live out my dream.
♪♪
Narrator: Next up is a convenient way for couples
to spend more time together.
♪♪
Hi, Sharks. I'm Brett.
And I'm Jeff, and we are the co-founders of Boona.
We're seeking $400,000 for 10% of our company.
Sharks, let's just be honest,
showering with a partner sounds fun,
but in reality it sucks.
One person is hogging all the hot water.
And the other is left shivering in the corner.
Sure, two shower heads would solve the problem,
but am I really gonna spend thousands of dollars
on a renovation?
Well, now you don't have to.
Introducing...
Boona's tandem shower.
[ Laughter ]
Tandem is the only easy and cost-effective way
to add a second showerhead to your bathroom.
It optimizes the water pressure
using our custom-engineered shower heads.
Tandem installs in minutes. It's simple.
All you have to do is extend the rod,
add the valve, and connect the showerheads.
That's it.
No fancy contractors, no knocking down walls.
It's just an instant spa upgrade.
Sharks, we're done showering on our own.
Tandem is way more fun with a partner.
And we're looking for a long-term romance
with one of you.
All right, Hannah, David, shower time is over.
Sharks, we've got some samples of tandem in front of you,
and we'd welcome your questions.
Corcoran: How about the pressure?
Do you divide the pressure in two?
So the pressure, first thing that we thought about.
And, you know, the main thing is we have 5,000 customers
and our average rating is 4.7 out of 5.
But what about the pressure?
So yeah, I mean basically we could speak to the pressure.
I think the point more for us is the pressure
was always a top-of-mind concern for any customer.
And so it was great for us to see that the rating hit 4.75.
5,000 people bought it.
Just over 5,000 customers so far.
Over what period of time?
We did preorder first, and that started in April 2022.
I'm actually surprised you have that many.
Is this really that big a problem?
Greiner: Yeah.
It's not a problem, but it's an opportunity.
Well, is it?
Jeff: One thing that's interesting is --
so we went live in July and we started posting
some content on social media, and we ended up blowing up.
We hit 50 million views on TikTok
and 50 million views on Instagram,
and have over 50,000 followers on both platforms,
and a mailing list of over 40,000 people.
-Wow. -So you must have some sales.
Why don't you walk us through the business?
The sales off the Kickstarter were $750,000.
-Wow. -How many units is that?
3,000-something.
What do you think you'll do this calendar year?
And will you make any money?
We think we're gonna do $1.7 million
because we have done -- it's all organic this year.
Once we went live, we blew up.
How much are you going to make on $1.7 million?
Our gross profit margin is 71%.
-Okay, but -- -But what's your net profit?
Net profit is 54%.
-Net profit is 54%? -You're going to make 54% --
So you think you're going to make over $850,000.
-Yeah. -What does this item cost?
So we have -- The first SKU is $249.
And that's with one of our showerheads.
And then the second SKU -- Why would you even sell that?
A lot of customers are married to their handheld shower,
or maybe they purchased a showerhead that they really like
and they're not ready to commit
to our aesthetic and performance.
So what does the other SKU cost?
The two together is $299. Okay.
The single head -- Can you walk me through the cost,
landed cost of that one, and then the dual head,
what's the landed cost of that one?
$69 landed.
For the first one.
It's both. We averaged it. They're very comparable.
So it's $69 landed for both SKUs is what you're saying.
That's right. You're making money
on every single sale right now.
That's right. Yeah.
What's your ultimate goal out of this?
I mean, we want to build a brand.
I think we have a lot of IP around this product,
but we're not banking the business on it.
I mean, the next obvious opportunity for us
is just the handhelds.
We have tons of customers that aren't converting.
So it's a derivative of this.
You're going to stay in the shower stall.
Oh, for sure, for the beginning,
like, we are tandem focused.
When do you think you'll hit $5 million in sales?
Next year? Next year, yeah.
I don't buy it as a company yet.
I see it as a very interesting innovation as a product.
And some of the greatest deals in "Shark Tank" history
is when the entrepreneur focused on that one application
and maxed it out.
That's our focus right now.
Well, I'm not sure. You were telling me
about building a business, other SKUs,
a brand strategy, which scares me.
Cuban: That's the biggest mistake startups make.
They want to be a brand as opposed to just executing
on selling their product. Why can't they do both?
Because what builds a brand is your execution.
Totally. You know, what too many companies do,
you know, I'm doing brand marketing.
This is for the brand. I'm going out there and I'm,
you know, I'm presenting this. I'm going to this trade show
because I want to build my brand.
That's why for us, the absolute focus
is definitely on tandem. And if we do
create new products, it's to support tandem.
I jus want to say something. I can't relate to the product
at all for two reasons.
One, I'm a bather, and I love high pressure
and I'm concerned about you cutting the pressure in half.
Secondly, I just couldn't imagine getting into a shower
with my husband, Bill, and getting naked.
[ Laughter ]
It would be my idea of the worst nightmare on his side
and on mine, so forget it.
You have a younger demographic. I'm out.
Brad, Jeff, you guys have built a great business.
I bought a super fancy house with 10 showerheads,
and consistently, I just use one.
I'm not the person who would buy this.
I think it's hard for me to get there, so I'm out.
I wish you all the best.
Cuban: Guys, I think it's a great product.
I think this is just going to be a cash-generating machine,
and the biggest mistake you could make would be
to try to grow too fast.
Just take the money people are throwing at you.
But that's not conducive to an investor
because if it's $400,000 for 10%,
you have to generate $4 million in after-tax profits
just for me to get my money back.
So I don't see it as an investable business.
I see it as an amazing business for you guys.
But for those reasons, I'm out.
Well, I think you guys are amazing,
but I'm just not connecting with the product
as something for me to invest in, so I'm sorry.
I'm out.
I like it. I'm going to make you two offers.
You can choose between the two of them. Okay?
Number one, I'll do the $400,000 with a royalty per unit of $40.
I would stop the royalty after I get $1.2 million back,
and I'll take the 10% equity just in case we sell it.
Or I give you the $400,000, and I'm the third partner.
33 1/3%.
-Wow. -Oh, my Lord.
And every dollar that comes out, I'm getting 33 1/3 cent.
They're gonna rush to do those deals.
Well, you can decide, because that's what I --
that's what I think it's worth.
Or you can just go have a shower.
How about 20% for $600,000?
No.
20% of the company for $600,000?
The funny thing is, you're not --
you don't actually need $400,000.
Why would you do that? To make it more --
He gets more equity in the company.
No, I know why you would do it to try to entice him.
Why would you need to do that?
That's the only red flag that I've seen.
Why would you give up 20% of your company, even for $600,000?
If you do $5 million next year, you're making --
$2.5 million.
Millions -- Yeah, millions of dollars.
And you're giving up a fifth of that, you know?
Guys, you have an offer on the table.
What do you want to do? What do you want to do?
Are you willing to negotiate on your offer?
Well, wait.
I haven't heard anything. I've just heard squawking.
All I hear is squawking. The only offer you have is me.
We're allowed to come back in. Remember that.
Go back in. I'm still curious.
Why would you give up 20% of your company for $600,000
when you're anticipating doing how much in sales this year?
We definitely think that it's going to be a discount
on what we're worth and what we've built here...
Right. ...and demonstrated.
But for us, like, it's a costly business.
How much cash do you have in the bank?
$250,000. Okay.
For us, it's like having a resource that can help us
even strategize between different --
But cash is an issue. You may be profitable,
but because you're growing -- We can grow --
Which got back to my point,
which is why I asked the question on profitability
versus let's just go, go go go.
Yeah, that's exactly what we want to do.
Okay. I'm out. Thank you.
You got to make a decision. You can't do it,
that tells me you're not sharp enough.
You weren't gonna do that deal anyway, so that's no loss.
Well, I don't know, but we don't have to worry about it.
See you later.
Anyone else want to come back in?
No, but, guys, chase cash, not sales.
You came to the advice tank.
[ Laughter ]
Good luck, guys.
Thank you all so much.
Bye.
For us, it went about as well as we could have hoped.
We would have loved to have gotten a deal,
but I think their logic makes sense
and I'm excited to continue building
this business exactly as per their advice.
They had no ability to focus on the only offer they had.
You got to realize you have a real offer,
you got to focus on it. I actually got bored.
♪♪
Narrator: Next up is a way to make birthday celebrations
even sweeter.
♪♪
Salutations, Sharks. I'm Loree Sandler.
And I'm Bob Michaelson, Loree's partner.
We're here from Chicago seeking $250,000
for 10% stake in our company.
Sharks, congratulations on another epic season.
We're celebrating too -- 35 years of "wedded bliss."
What drives our passion?
Igniting celebrations... With our company...
Both: Let Them Eat Candles.
You heard that right. Let Them Eat Candles
are premium chocolate birthday candles to light and eat.
The flame lasts about a minute,
long enough to sing "Happy Birthday"
and to strike a pose.
When we tell people you can light and eat the candles,
their jaws drop.
See for yourselves.
♪♪
Let's make every cake a stage and every candle a star.
So, Sharks, we invite you to light the candle
in front of you, wake a wish,
and on my count, we'll blow them out together.
-Ooh, let's do. Yes. -All right.
-Yes. -[ Laughs ]
Okay, three, two, one.
[ All blowing ]
-Yay! -Yay!
Once it stops smoking, can you eat the top?
The wick is very short,
so by the time you sing and blow it out,
you can just pluck out the nub.
-Oh, you gotta take it off. -Yeah, my wick was about out.
Yeah, exactly. Greiner: Gotcha.
You end up with a solid bar of chocolate.
And how many different flavors do you have?
Is there just dark and milk?
There's just dark and milk.
We have seven different patterns on the candles.
Bob, how did you get into this business?
One day you're sitting around and saying,
"I got to eat a candle"?
Well, I will let the inspiration,
Loree, tell you that story.
All right, Loree.
So we have three -- three boys
and we were -- our youngest
and I were baking his birthday cake together.
And at the end, we throw on these candles
and they drip all over the cake, and I just was so disappointed.
Like, here is the last product on the planet
that hasn't been tweaked or optimized.
And I really just thought,
"How hard can it be to make edible candles?"
So in Chicago, I took classes at the French pastry School
in the Chocolate Academy.
How do I work with chocolate? Who makes custom molds?
How would I package something like this?
Well, good for you this because you know what?
A lot of people come up with ideas
and they look for shortcuts. You did not take shortcuts.
Oh, no, I take the long road.
I have not seen chocolate candles.
Is this the only one on the market you know of?
There's only one other edible candle we're aware of.
It is a chocolate candle.
However, it's not a candle, it's just chocolate.
And to use it as a candle,
you have to insert a wax candle into it.
Bob, what do you sell them for?
They're sold, right now, anywhere from $2.99
to $3.99 a piece.
And what does it cost you to make them?
So they're 85 cents, our cost.
We sell them wholesale $1.69, and we sell direct --
We sell direct to consumer for $3.99.
What are your total sales?
So our sales have been $2.3 million
since we started selling these. Good for you.
Last year, we did $675,000 in sales.
Bob, what will you sell this year
and what will you make as a profit?
This year, we will do $1 million in sales.
How much cash will you make from that before tax?
Just cash. Probably $100,000.
Now, we're here today -- Clearly we want
to be able to grow our business in grocery.
I wanted to go to the big grocery chains
where you can sell one time and get in 1,200 doors.
So our first focus was on Publix,
and this was just before the pandemic started,
and they loved the product.
So we're in all the Publix stores.
We continue getting reorders from them.
Now we're testing at Ahold, Kroger, and Albertsons.
But as we take a look at the big opportunity for growth,
it's direct to consumer.
So that is our biggest challenge.
Well, that's because it's hard to ship chocolate, right?
So how do you overcome that problem?
We're shipping in a box with insulation and gel packs.
And it's just costly. That's so expensive.
It's very expensive.
It's a nightmare. I wouldn't even try that.
I agree with what you're doing,
and I think you have to get four other grocers,
and then you have world dominance...
-That's it. -...in edible candles.
It's going to take you two to three years.
That's how long it's going to take.
Seen this movie, done it before.
There's nothing wrong with what you're doing.
It's just a really long journey because I've already
walked that road. I'm out.
Cuban: I just don't see where --
How are you going to take it to the point where it's attractive
and it's big enough for somebody to want to buy?
I mean, we're focused on getting
this to being a $10 million business.
But tell us how. Tell us how.
I will tell you how. Since we've had
such great success with Publix,
taking that same strategy to Ahold, Kroger, and Albertsons.
That's your credible story.
But there's other big chains that are out there.
Loree, Bob, very clever idea.
I'm in a kind of a competing category
where we make birthday cards that actually become cakes
you make in the microwave with a mini little candle included
so it's competitive to a space I'm already in.
I wish you all the best, but I'm out.
Thank you, Robert. Sorry, Robert. Thank you.
Even if you hit your 10 million in sales,
you're, you know, at 20% margin.
And I think you can get full distribution,
you know, 10 years, 5 to 10 years out,
you know, so you're in all the Walmarts, all the big boxes.
But without direct to consumer,
I don't know that you can get the $10 million in sales.
So for those reasons, I'm out.
Well, Mark, I just, you know, as you look
at direct to consumer,
there's clearly a market. There's an interest --
Guys, focus on the two Sharks you still have in the deal.
Absolutely, absolutely.
I want to say a couple of things.
I don't think you're crazy at all selling to the consumer.
It's just ripe for social media.
Cuban: How are you going to pay for shipping?
You include the shipping. Absolutely.
And I don't think it's a problem shipping 12 months a year.
I ship Daisy Cakes all year round.
Chocolate cakes. They come out fine.
I'd like to make an offer, all right?
$250,000 for 25%.
Oh!
Wow, that's a $1 million valuation. That's a big haircut.
O'Leary: Lori, what are you doing?
You know, I've kind of been on the fence.
I want to push you to one side a little bit.
I like to take a concept and then innovate
and turn it into more and more.
So I'm looking at this, and I'm thinking it's chocolate,
but why can't it be
other things like a sugar stick where you figure out
like a candy cane kind of thing. -It's a good idea.
People just love just candy sticks.
Absolutely. And why can't you take, like, candy sticks
and make them with wicks and beautiful colors?
Yeah. Lori, I've always learned to be successful,
if you have a customer, you've got a great relationship,
what else can you sell them?
Well, listen, I'm -- I'm going to give you an offer.
Boom!
♪♪
Narrator: Three Sharks are out.
Loree and Bob have an offer on the table from Barbara
for their edible birthday candle company
Let Them Eat Candles. But Lori is also interested.
Well, listen, I'm -- I'm going to give you an offer.
Boom.
I would do $125,000 as a loan and $125,000 cash,
but I would like to ask for 20%.
Ooh. Talk about a haircut.
Bob: Exactly. You just got bald.
But, you know, but let me tell you why.
I'm gonna tell you why.
Because I know I'm gonna have to go to work for you.
Remember, the big difference with the offers,
other than the amount, is it's $250,000 in cash for me.
So it's $125,000 for the 20% stake of equity.
Yeah. So that's a $600,000 valuation.
Yeah. Actually, it's a $475,000 valuation
if you take the loan. Pretty much.
What do you want to do?
I just want to just confer with the boss here, really.
What a darling marriage you have.
35 years, Barbara.
Wonderful. Okay. I...
Okay. All right.
Look at Loree's face. [ Laughter ]
-I see pain on your face. -You can counter.
Yeah. We're gonna definitely counter.
No, I mean -- Let's hear it.
We really do not want to give up 20% of the company.
We don't want to give up either Barbara or Lori either.
Yeah.
So is there a way we could do 15%
and maybe you guys could both come in?
That would be exciting. You've got a bunch
of great ideas, you've got a lot of passion.
I don't need a partner, but make it 18% and I'll do it.
She's countering at 18%.
And we haven't heard from Barbara.
I'm staying where I am, yeah.
Okay, Barbara, 25%, Lori saying she'll do 18%.
I'll do 18%, and I'll do it straight up
because I want to innovate.
Let's do it.
Mazel tov!
Yay!
We're gonna have so much fun. Thank you so much.
-Thank you. -Yay!
-I know. The best possible. -Yes.
Congrats, guys.
-Thank you guys. -Oh, my God.
[ Laughs ]
Oh, my God.
All right, I want to tell you something, though.
It might be a lucky day for you,
but I can't promise a lucky night.
[ Laughter ]
There is only one business, only one that got away.
And I'm going to tell you what it is.
Hi, Sharks. I'm Aaron Krauss. from Philadelphia,
and I'm known as the daddy of the Scrub Daddy,
the cutest but most high-tech scrubbing tool in the world.
-Whoo! -Wow.
-Scrub Daddy.
So I'm offering $50,000 for 15%
if you can raise the rest from Laurie
and if she wants to do business with me.
No offense, Damon, I don't need you.
This vicious woman named Lori
and I got into a negotiation over it,
and I wanted to stick it to her.
So mine just went to $175,000. Whoa.
Mine just went to $200,000.
Whoa!
I'm out. I wanted to stick it to her.
But guess what? I think it's like
the second best-selling product in "Shark Tank" history.
And every time I go to the store,
I see that stupid-looking little sponge smiling at me.
And I feel like Lori's peering through that sponge at me.
Narrator: Next into the tank is a solution for new moms
feeling the heat.
♪♪
Hi, Sharks. I'm Jackie, and this is my husband, Jeremy.
We are from hot and sunny Mesa, Arizona,
and we're here seeking $100,000 for 10% equity in our company.
Last year, we were blessed
with the most beautiful baby girl, Sunny.
Herjavec: Aww.
Sunny brought the sunshine into our lives.
But man, did she also bring the heat.
Literally, Sharks.
Every time I breastfed, I'd be drenched in sweat.
Me and Sunny would come out so hot.
And we found no solution.
And Jackie tried every nursing cover under the sun
but kept running into the same problem.
Left sweaty, stressed, and without a solution,
we were forced to take matters into our own hands with...
The Lady Alpha Nursing Cool Cover.
The only breastfeeding cover on the market
with an integrated fan
to keep your baby cool while breastfeeding.
Simply attach our light
and breathable cover onto the fan
using the Velcro and place it over you and your baby.
Our rechargeable and bladeless fan
has three airspeeds for you to choose from.
And its flexible design creates an adjustable opening
for hands-free eye contact with your baby at all times.
And, Sharks, we have really thought of it all.
Our 100% muslin cotton cover is baby tug-proof,
so rest assured that even with the squirmiest baby,
it's not going anywhere. Oh, my God.
That's gonna be a meme.
People always say don't sweat the small stuff,
but we say, why sweat at all?
So tell us which one of you is ready to be the coolest Shark
and help moms and babies everywhere?
-Good job. -Great job.
Greiner: So this is it right here? Yeah.
In front of you is the Nursing Cool Cover.
So this sweating baby thing is a big deal?
-It's a real -- -It's because the --
Oh, my gosh, it really works. Yes.
You feel it? That's kind of cool.
How much do you sell it for?
We sell it for $59.95 for the complete unit.
That's not bad.
What does it cost you to make?
It costs us $17.30 for the complete unit.
So your margins are fantastic.
Have you sold many of them?
Yes, Barbara. Great question. How many?
So since launching seven months ago,
we have sold 1,400 units for a total of --
Wow. Good for you. Thank you.
For a total of $79,000.
We initially bought 300 units,
thinking it was gonna take us all year to sell.
And we sold out -- we sold out four weeks later.
Isn't it a great feeling to sell out so fast?
Yeah. It's a great problem to have.
I was gonna be ecstatic if we sold one a day,
and we sold all 300. I was gonna be very happy.
How did you bring your customers to you?
Strictly social media.
We initially got an investment of $15,000,
and all of it was taken up with IP and inventory.
So I knew if I was going to make this work,
we had to take social media by storm,
and I built a community around moms.
Do you have a background in that?
Like, are you a social media expert or -- No.
Why don't you both tell us about you?
And who gave you the $15,000?
My Uncle Robert, actually. Yeah.
Seriously? He could be your next Uncle Robert.
Okay, so let's go back to your backgrounds.
Tell us about you. Yeah, my background.
So I currently work for a hospital system in Scottsdale,
Arizona, as a strategic sourcing program manager,
but my background is unrelated to that.
I'm from a very small farm town of 500 people,
Faith, South Dakota, and I grew up working on our family farm.
Had to start operating machinery at a very young age.
At the time I absolutely hated it,
but looking back, I'm extremely grateful.
I learned a lot of hard work,
sacrifice, and that if you want something done,
you've got to roll up your sleeves and do it yourself.
And I do this full-time. I take care of the business
on top of being a full-time stay-at-home mom.
But I am a first-generation Latina raised here in the US
by an immigrant single mother
who came here for the American Dream.
Growing up, I watched her work multiple jobs
and struggle to provide for us.
After high school, I went to college
for a whole half semester. I did drop out
because I've always just been really bad in school,
but somehow I ended up in corporate America.
I worked in credit cards, collections,
I did personal loans, and I was even a car saleswoman.
-Wow. -But I've always --
So you can sell, right? You can sell.
I don't know, kind of. Well, we're here, huh?
But I've always just had an entrepreneurial spirit
and that hustler mentality.
I did watch my mom also quit her three jobs
and start her own cleaning company.
So I began cleaning houses with her,
knowing that I was gonna at least be in charge of my future.
And then Sunny came along, and she just inspired
such a beautiful and cool product,
and I taught myself everything there is to know about business.
If I, the daughter of an immigrant single mother
with no college education,
can go from cleaning houses, scrubbing toilets,
to building a successful business
and being on "Shark Tank," they can do it too.
-That's right. -Wow.
-Yes, absolutely. -Yes, you can.
So we just wanted to share
when we first became parents last year,
breastfeeding out in public became a very stressful ordeal,
and we began debating if we wanted to go
to family events or public functions.
And so when a light bulb clicked in my head
to just simply attach a fan that I had seen
that seemed to be the right shape around the neckline,
and I told Jackie and she really ran with it.
I ran -- I ran to my grandmother.
She is a 65-year-old seamstress from Mexico,
where she learned all of her amazing skills.
And with $15, we built our first prototype.
She had it completed in two days,
and the next day after that is when I filed
our provisional patent.
Corcoran: Go, Grandma!
Actually, our utility patent just got approved two weeks ago.
-Two weeks ago. -Congratulations.
So I'm curious how big a problem is this?
I've really not heard of it before.
How often do women talk about this and complain about it?
So it's actually an unspoken pain point
that I feel moms really don't talk about.
When we had created the first prototype,
I took it to the park.
In my family, there's never a shortage of pregnant women.
Someone's pregnant or someone's on their way to get pregnant.
[ Laughter ]
So I showed this to the moms, and I can just --
It looked like they've seen a ghost.
Like, their jaws dropped,
and they're asking me if we can get them some.
So it's a huge problem.
To help just understand the demand a little bit
and what kind of moms are wanting it,
we opened up waitlist orders this last month --
And your customers are happy to wait?
Happy to wait. And they have actually reached out saying --
There's no alternative with a fan right now?
This is it?
There's nothing else on the market with a fan.
What does it cost you to acquire these customers?
$0. It's all social media-driven.
What do you need the $100,000 for?
Since we launched,
we've consistently ran out of inventory.
The demand that Jackie's been able
to create through social media
is far greater than our access to capital.
How many people do you have waiting for an order?
So we're waiting on 600 units that are scheduled to arrive
in the next couple of days,
but I was being bombarded with e-mails and DMs, Instagram,
TikTok of moms saying, "Can I pay for this ahead of time?
Because I want to make sure I get it before the next restock,
so before it sells out."
So that kind of just gave us a confidence
to open up waitlist orders or preorders.
And so we did that two weeks ago.
And in one day, we did --
we sold 482 units for a total of $29,000.
Cuban: And what's your lead time for delivery?
I want to make you an offer
just to shortcut it a little bit.
-There you go. -I'll give you the $100,000
for 10%, exactly what you asked.
What? Yeah. Why not?
But let me tell you, numbers speak for itself
and you are a charmer. For 10%?
Yeah, exactly what you came in asking for.
Would you also be able to fund purchase orders
if and when we do decide to go into retail?
I'm a good girl. No problem.
Cuban: When you got an offer, you say yes.
-What's there to think about? -No more talking.
-Just say yes. -Yeah, you just say yes.
I would like an answer right away.
If you want to shop around, that's no problem.
No. Yes, we'll accept that offer, Barbara.
[ Laughter ]
She's my favorite Shark. Can I give her --
Well, she's your favorite Shark now, that's for sure.
[ Laughter ]
Yeah, I'm my own favorite Shark.
You are a lucky devil. You treat her well.
I will. Thank you, Barbara.
Looking forward to working with you.
Congrats, guys.
You guys are the real deal. Congratulations.
Thank you. Love you guys. Thank you.
Greiner: Bye.
Jackie: My piece of advice for entrepreneurs
is believe in your dream. Believe in your vision.
Anything is possible if you're willing to work for it,
no matter your background.
Watching my mom work three jobs,
I feel like she would just be really proud.
And it's a way for us to be able to pay her back
for all the sacrifices that she has done,
and be able to give Sunny opportunities
that maybe we didn't have.
♪♪