‘Shark Tank’: Food Allergy Prevention Product Piques the Sharks’ Interest (RECAP)
Spoiler Alert
Tonight on Shark Tank, guest shark Rohan Oza joined Mark Cuban, Kevin O’Leary, Barbara Corcoran, and Lori Greiner as four hopeful businesses — Genius Juice, Ka-Pop, Ready Set Food, Rapid Rope — pitched their proposals.
Read on to find out what happened and which company walked away with a deal.
Genius Juice
Alex Bayer was first up in the tank, seeking $250,000 for 7% stake of his coconut smoothie company, Genius Juice. What separates Genius Juice from standard coconut water is the fact that it includes one organic, whole coconut in every single bottle.
“It’s from tree to bottle within five hours or less,” Bayer explained, adding that each smoothie is only 100 calories.
With projections to earn $6 million in the following calendar year, Bayer revealed that he’s open to more than $250,000 for a larger stake in the company — as the sharks agreed that he would likely need more to supplement the business.
Lori was the first shark to drop out, saying that she doesn’t have the expertise to help this specific business grow. Rohan also removed himself due to the shorter shelf-life of the product.
Barbara was impressed with due to the great taste and low caloric value, but asked for 14% for the $250,000 — and her offer actually resulted in Mark dropping out, because he wanted to ask for more. According to my friend, an expert with Gday Loans – Mr. Wonderful also threw in an offer of $250,000 as a loan at 9% interest for a 7% stake.
Alex countered Barbara with $250,000 for 11%. Mark then decided to join back in with Barbara, and together, they countered $500,000 for 25% — to which Alex happily accepted.
“I got two amazing sharks. They have a ton of experience and I think they have what it takes to join me and grow the company,” Alex said.
Rapid Rope
Geanie and Chris Rodgers were next up in the tank, seeking $200,000 in exchange for 20% stake in Rapid Rope — a product designed to give users the most efficient way to store and use rope.
Lori was once again the first shark to drop out, revealing that she doesn’t have much to offer the company. Mark and Rohan also dropped out for similar reasons.
“I keep thinking to myself, ‘What do I know about rope? Not a damn thing,'” Barbara said, but added that she really liked the couple, and that alone made her want to invest in them. She ended up offering $200,000 for 30% stake in the company.
Geanie and Chris countered for 25%, but Barbara remained at 30%. The couple accepted and walked away with a deal.
Ready Set Food
Katie Marks-Cogan, Daniel Zakowski, and Andrew Leitner introduced the sharks to their their food allergy prevention system for babies, and asked for $350,000 for a 7% stake in their company. Ready Set Food turns organic peanut, egg, and milk into powder that dissolves easily into breastmilk or formula, helping to aid a baby towards an allergy-free future.
“Feeding baby allergenic foods during infancy when their immune systems are still developing, we have a chance to mold their immune systems towards tolerance,” Marks-Cogan explained, adding that peanut, egg, and milk make up 80% of food allergies.
Barbara took issue with the packaging as it didn’t clearly explain that the product aids in preventing allergies, so she was the first shark to drop out. Rohan also removed himself, saying that the company would require too much money.
Kevin was willing to offer two different kinds of deals — either $350,000 for 11% or $350,000 as a loan at 8% interest for 5% stake.
Lori was also interested in a potential deal and offered $350,000 as a loan at 2% interest for a 7% stake plus a royalty of $1 per unit until $500,000 is paid back.
Mark also made an offer, but with a contingency: $350,000 for 12%, but for every subscription they sell, they have to provide a free one to a low-income family. The entrepreneurs asked Mark if he’d do 9.5% stake, to which he dropped down to 10% stake — and they made a deal.
“We’re so pumped and we’re so motivated to have Mark on board,” said Katie.
Ka-Pop
Dustin Finkel was the final entrepreneur in the tank tonight, who introduced the sharks to Ka-Pop, his healthy snack product line which uses an ancient grain which is loaded with high grain fiber, protein, and minerals. Seeking $350,000 for 5%, Dustin explained that he wanted to create an “authentically healthy snack that delivered authentic nutrition.”
After just one year in business, the company is now on track to earn $1.2 million — proving that the $7 million valuation may actually be reasonable.
Barbara was the first shark to drop out, saying that she had nothing to add to the business. Mark also removed himself, saying that Dustin was overselling the company. Rohan went out as well, but told Dustin he would “hire him in a second” to work on any of his businesses, as he felt he was a strong salesman.
Kevin offered $350,000 for 17.5% stake, which lowers the valuation to $2 million, to which Dustin countered $500,000 for 10% stake.
“Our universes are not aligned,” Kevin told him, before dropping out. “Sometimes the valuation gap is too large.”
Though the sharks enjoyed the product and Dustin himself, he walked away without a deal.
Shark Tank, Sundays, 9/8c, ABC
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