Shark Tank (2009–…): Season 13, Episode 4 - Episode #13.4 - full transcript
Tonight, Silicon Valley
veteran Nirav Tolia joins the Tank.
Nirav is the founder of social
media phenomenon Nextdoor.
I've been the CEO of
three different companies
in Silicon Valley.
I know how to bring
it to the masses.
We have created
the world's first
custom‐fitted swimming goggles.
All of our products are inspired
by traditional Moroccan
hammam spas.
Whoo! Whoo!
It can save 1 out of 3 children
from catching the
most deadly diseases.
Why has nobody ever
thought of this? 'Cause they did.
When you have a new category,
it's not where you
are, it's where you'll be.
I think what
you're building here
is not just a company,
I think it is a movement.
Good luck, Nirav. Thanks
for having me, guys.
Oh, you won't say
that in about two hours.
Yeah, right.
We shall see.
First in the
Tank is a new innovation
in the fitness accessory space.
Hi, Sharks. I'm Rasmus.
And I'm Bo. We're
from TheMagic5.
We all know Sharks have
excellent vision underwater,
but it's not easy
for everyone else
and that is why we
wear swimming goggles.
But most swimming goggles today
either leak or are
uncomfortable,
and it makes total sense.
Of course they do.
All of our faces are different.
Swimming goggles
are one‐size‐fits‐all.
And that is why we have
created the world's first
custom‐fitted
swimming goggles. Wow.
It only takes 13 seconds
to scan your face,
and we'll deliver the goggles
directly to your doorstep.
Our app‐based
scanning technology
ensures a perfectly
fitting goggle
with no leakage and
no marks after use.
Some of the world's
very best swimmers
and triathletes, they
already wear our goggles.
But we want all swimmers
to get a pair of our goggles.
And to accomplish that,
we're seeking $500,000
for 2 1/2% of our company.
‐Whoa. ‐Whoa.
Hello. Wow.
So, Sharks, who wants
to help create magic?
Sharks, in front of you,
you have two goggles.
You can try them on,
but they won't fit you
because you haven't
scanned your face,
so we haven't been
able to produce a pair
of goggles for you.
Have a look at the
part of the goggle
that touches your face.
You can see that
gasket is different
from the two
goggles that you have,
and that is really
our secret sauce.
And what do they sell for? $55.
They're very dark.
That is for outdoor swimming.
So, we have, like, ranges
from super light one ‐‐
totally clear ‐‐ to
very, very dark.
And the design of the goggle
means that you have
a great peripheral view,
which is super useful so
you can navigate better.
How big is the goggle market?
In the U. S. and
Europe, $2.2 billion.
Wait, how
much? $2.2 billion?
I'm not surprised. I'm not surprised.
No, there's cha‐‐ In the U. S.?
I have three young
sons. They were goggles.
All of their friends
wear goggles.
But for a $20 million valuation,
I'm guessing you've
already sold a lot of these.
Yeah, so, we have
40,000 customers so far.
Our lifetime
revenue is $3 million.
When did you start?
We started it in 2018,
and we have been growing
like three times every year.
It's so logical.
I mean, my glasses
are made for me.
Why have swimming goggles
never been custom‐made?
So, we are a
triathlete, both of us.
I went on a vacation.
I forgot my goggles,
but I had to swim.
And then I purchased all
the goggles that I could find.
None of them fit me.
Then, I called
the best triathlete
that I knew at the time.
That was Rasmus, my nephew.
Oh, he's your nephew? Yes.
Where are you from?
We're from Denmark.
Oh!
I don't understand why
you're only charging $55.
Why aren't these $99?
So, we wanted to charge
in the middle of the other
high‐end goggles, right?
We didn't want price to be
an issue for our customers.
What does it cost to make it?
It costs $14.
Okay, and what is the
customer acquisition cost?
That is $24.
Okay, so, guys,
nobody comes in here
asking for $500,000 for 2 1/2%.
That's always to protect
your previous investors.
So tell us, how much
money have you raised?
We have raised $1.5 million.
At what valuation?
The last valuation that we had
was $9 million.
Can you walk us through
how the ramp has gone
over, let's say, the
last three years?
In 2018, when we
delivered the first goggles,
our revenue was $180,000.
The year after, it was $370,000.
Last year, it was $1.2 million.
Wow. And so far, this
year, we're at $1.5 million.
Impressive.
So, where are you based,
and where do you manufacture?
So, I moved to Charlotte, and
Rasmus moved to New York.
So we basically
convinced our wives
to make the bet and
move to the U. S.
Why did you choose
to move to the U. S.?
The market here is better...
and the relative
number of swimmers
is slightly higher than Europe.
So, then, your manufacturing...
Yeah... where is that done?
So, we get some of
our parts from China,
and then all the
customization happens
in Charlotte, North Carolina.
Do you have any
type of IP coverage?
We have a utility patent
on the fitting algorithm.
So, you manufacture the goggles,
and you have to
customize them to fit.
What is that process like?
Yeah, so we used advanced
robotics technology to do it.
Are you using
third‐party robotics,
or are you developing
it all yourself?
So, all the software
to control the robot
is, of course, made by us.
Not all companies can
make robotics, right?
Mark, it's a goggle company,
not a robotics company.
No, it's a robotics company
that makes goggles right now.
That's exactly right. Exactly.
Look, when you
have a unique niche
and you're developing
a new category,
it's not where you
are, it's where you'll be.
I'll offer you the $500,000,
but I want 7 1/2%.
And I don't want you to
negotiate with everybody,
'cause you already know that they're
flipping them out. Well, wait a second, Mark.
- There may be other offers.
- He's putting the clock on you.
That means he doesn't want
you to hear anything else.
If you're more concerned
about that equity,
the two of us have an offer
you may find very
interesting, okay?
Guys, I already have
a robotics company
that I'm an investor in.
I have AI companies.
I have machine
learning companies.
I have AR companies.
And, obviously, being
in the sports industry,
I have a platform. But you
may not want to give up 7 1/2%.
Well, that's why,
if that's too much,
then I'll listen to a counter.
Just so you have it,
Let me give you an offer
that two Sharks want
to give you, okay?
And you can get both the
sales and the technology.
So, how about this deal?
Venture debt deal.
$500,000, all right,
between the two of us,
and we're going to
charge you $3 a unit
until we recoup $1.5 million.
Then the royalty goes away.
But we're only gonna
ask for 5% equity.
And you get two Sharks.
Or, Rasmus, let me tell you.
So, my daughter was
a world‐class swimmer.
In fact, she was ranked
in the top 10 in the world
in the butterfly when
she was 12 years old.
I've spent 18 years at
swimming pools.
I get this market.
I'll do $500,000
for 5%, no royalty.
I just want to say, what
you need are partners.
So with Mr. Wonderful, you
know what you're gonna get.
Nothing.
Nothing. Exactly.
Right?
Nothing except for
what will help you
scale your business.
I've been the CEO of
three different companies
in Silicon Valley.
I know how to build
extremely large audiences
cost‐effectively.
You have an amazing product.
But now, how are we
gonna bring it to the masses?
That's the kind of
problem that I've solved
over the last 20 years.
Wait a minute.
You need somebody
who will really help you
blast these out ‐‐ sell 'em.
I'm a product person.
I like to blow up sales.
I like to move fast, and
I like to blitz the market.
And that's what I'm good at.
So, Lori, do you have an offer?
All Sharks are still in,
and there's a bidding war
over custom swim goggles
company, TheMagic5.
So, Lori, do you have an offer?
I'm not gonna offer you tech,
but I'm gonna offer
you a lot of sales.
I mean, I have Mark,
and I have Robert,
who have both given you
offers, and they're on the tech end.
And I would join
either one of them
to blow up your sales.
But what's your offer?
Well, I'm asking them, do
either of you want me to come in?
That was a very good question.
But I think that it
comes down to,
what were you hoping
to get here today?
In the next short while,
do you need to boost sales?
Do you need to boost strategy?
Do you need to boost tech?
Guys, guys. We've
all been entrepreneurs,
and we know you can't choose.
You have to do both. Mm.
You need to generate sales,
and you need to answer
the strategic questions
about how to best
build the business.
Well ‐‐ Nirav has a fantastic
track record doing this.
I mean, he can really help. Cuban:
Guys, the only thing I'll tell you is,
I've been first or second
investor in six unicorns,
so it's not like I don't know
how to grow
companies that I've built.
Guys, look, I think I'd be
happy to partner with Lori.
I'm happy with the 5%.
How do we split that 5%?
Guys, we'll drop down 1%
just to be more competitive.
Because we're asking
for 5%, we'll go to 4%.
We want that royalty
structure in place,
but it's not perpetual.
We get back our capital.
It's not even that
great a return,
but we stay in the game.
But you get three
times the capital, right?
No, we're only making a
million bucks off $500,000.
So we're willing to
go down on the equity.
And, guys,
like I said... Yeah.
I'll listen to a counteroffer.
And we have a
counter. And so will we.
Yeah.
Robert and I are gonna
do the $500,000 ‐‐ 6%.
No royalty. No royalty.
Wasn't the offer 5%? It was.
That was the first offer,
so now it's gotten worse.
Got worse by a percent,
but you get two Sharks.
I'm happy to do the
$500,000 for 5% on my own.
I think Lori brings a
tremendous amount of it
that gives you the sales.
But we need a
little more equity.
All of these offers that
are 5% and 6% and 7 1/2%
cause pain to your
existing shareholder base.
We understand that.
Nirav and I are gonna
change our offer yet again
down to 3% equity.
So now we're totally aligned
with your existing shareholders.
If you think this company is
gonna be worth a lot... Mm‐hmm.
The equity is where
the real value is long‐term.
Guys, guys.
I gotta get this deal.
I'm gonna change my offer.
I'll give you $1 million...
for 6 1/2%.
Whoa.
It's a crazy offer for me.
Right now.
We'll take it. All right!
Perfect.
Wow. Good job.
Yeah!
Thank you, thank
you. Very excited.
I'm excited! Good job, guys.
Congrats. Nice job.
Great job, guys.
It's perfect. That was crazy.
Good stuff.
Robert was our favorite
investor going into the show.
He can really help us
take the goggle
business to the next level.
You're all‐in now. I'm
bummed that I lost that one.
I think where you went wrong
was partnering with Kevin.
Because when you
have an athletic product...
I'm a fine‐tuned
athlete, Robert.
Boom!
I grew up in this small town
in West Texas called Odessa,
and many people may
have heard of Odessa
because of "Friday
Night Lights."
It's a football town.
I didn't know it at the time,
but it was really
setting the stage
for me to think about
how much I enjoyed
this strong and supportive
sense of community around me.
My parents are my
greatest role models.
They are Indian immigrants
who came to this country
with $100 in their pockets
and their education.
They are physicians,
and they have lived
the American dream.
My parents always told me
to dream as big as possible.
They never limited my ambition.
It didn't matter that we
were living in Odessa, Texas.
When I was a kid, I always
wanted to be a doctor.
I was lucky to
get into Stanford,
but something really
strange happened at Stanford.
I wasn't enjoying it.
My parents are
successful doctors.
I'm at this incredible
place ‐‐ Stanford.
Why is my dream of
being a surgeon like my dad
not working out?
Inside, there was
this voice telling me
that what I loved to
do was build things.
Not only is Stanford
an amazing school,
it's in Silicon Valley,
and we saw the
creation of the Internet.
All around me, these
companies were starting.
And so I talked to my
parents about taking one year
and working at
this place, Yahoo!
And it was like
winning the lottery.
I was at a place
that was the center
of the first Internet boom,
and it taught me to dream.
It made me want to
be an entrepreneur
and to build my own company.
In 1999, I left Yahoo!
And started Epinions.
Ultimately, the company
was purchased by eBay
for $620 million in cash.
In the summer of 2008,
we started Fanbase,
my next company ‐‐
an online community
around the passion
that sports fans have
for their favorite
athletes and teams.
After almost two years
of running Fanbase,
we had to shut things down.
I was so tired. I felt
like we had failed.
How could I come
up with a new idea?
But we decided
that we wouldn't quit,
and we gave it a try.
We saw the emergence
of social networks ‐‐
Facebook to
communicate with friends,
LinkedIn to connect
with our colleagues.
But there was no community
being formed online
for the community
in which we live.
That led to the
creation of Nextdoor.
Nextdoor had a
mission to create safer,
happier neighborhoods.
We knew almost immediately
that it was having an impact,
and Nextdoor
became that lifeline
that connected over 50 million
neighbors in 11 countries.
From a company
that was worth nothing
to being worth over $4 billion.
I'm excited to be a Shark
because I love entrepreneurship.
While I admire the Sharks,
I admire the
entrepreneurs even more.
I have been so lucky in
my professional career,
and so many people
have lifted me up.
This is my opportunity
to do the same.
I want those entrepreneurs to
know that they have someone
who has stood in their shoes
and will help them
get to the next level.
Next up is a way for
people with common interests
to find each other.
Aww.
Hi, Sharks. I'm Nathan.
And I'm Sterling. And I'm Leigh,
from New Orleans, Louisiana.
We're seeking $300,000
for 20% equity in
our company, Tabby.
Sharks, you may not believe it,
but these handsome men
have been ripped to shreds
on general dating apps...
all because of
something they love.
Pussy... cats!
Here are real messages
these successful,
passionate guys have
gotten on general dating apps.
"My friend says
you have four cats.
That's four red flags."
"Ugh, do you sleep
with that thing?"
"Would you be willing to
give up your cats for me?"
Studies show that
men who have cats
in their profile
photos perform worse
and get fewer matches
on general dating apps.
No.
That's why we created Tabby,
the cat person's dating app.
All right, boys,
go be yourselves.
Tabby is a safe space.
Tabby is a familiar dating app.
You swipe left, or you
swipe right on people.
But it also has a specific area
asking you about your cats.
Like, "How much do you
spend on your cat a month?"
Or, "Does he or she sleep in
the bed with you every night?"
Of course she
does. All my cats do.
Tabby also provides
a community space
for everyone on the app ‐‐
The Cat Tree,
where you can share
your favorite cat‐friendly
cafe or suggest date ideas.
Like
volunteering at Sterling's nonprofit,
or curling up with
me and my four kitties
and nice bottle of wine.
So, Sharks, say goodbye
to these local
adoptable kittens for now.
Aww. The
boys will be right back.
Aww. And join us
as we help people
determine who they want
to spend the rest of
their nine lives with...
based on
their love for cats, with Tabby.
Leigh, it seems crazy to me.
How did you come
up with this idea?
Well, actually, I started
a different dating
app a few years ago.
I first started Dig, the
dog person's dating app.
After growing that with
my sister for a few years,
we are now in
acquisition conversations
with a dog food company.
Wow. Wow.
Over those few years,
we heard from a
lot of cat people.
One of the things we learned
was that there aren't places
like dog parks for
cat people to go out
and meet each other.
That's true! And there's
this stigma around cat people.
That's terrible.
Are the rest of you
guys doing Dig also?
No, we're strictly
here on Tabby.
Both of us actually work
as social media influencers.
I work as Nathan The Cat Lady,
as you can see by
the cutout behind me.
And then I met Sterling
at one of the cat conventions...
and
we kind of hit it off.
I go by Sterling
"TrapKing" Davis ‐‐
TrapKing, named after
my cat rescue nonprofit.
I am one of one.
Cat rescue is usually
something done by
middle‐aged white women.
I am the only Black man
that you will see...
that sold everything
and lives out of his vehicle
and rescue cats.
‐Good for you. ‐Good for you.
How many cat owners
are there in the first place?
Great question.
17 million single cat
owners in the U. S.
A lot of people don't
know how many cat people
are actually out there
'cause most of us
are ashamed to come out with it.
I'm a cat lover.
I do not understand why
there is cat shame at all.
Why is there cat shame?
I have no idea.
'Cause it's not cool, Lori!
Oh, that is so not right. You're not
gonna walk your cat down the street.
Cats are so cool. Okay, okay.
Can you give me some statistics?
There is no animal cooler than
a lion. When did you get started?
How many people
are using the app?
What have you learned so far?
So, last summer, we had the
opportunity to launch Tabby
because we won the
Million Dollar Dating Project.
What is that? It is a grant
from a dating platform company,
and they gave us $50,000
in equity‐free grant money
to be able to
market the platform.
And we could use their platform,
put our branding on it,
then market from there.
We launched on
International Cat Day
on this pre‐made
platform. Of course you did.
When we launched,
there were a massive amount
of problems on the platform.
Oh, good. I hate
when that happens!
Yes, when we first launched,
that platform had all of
the development made.
We brought our branding.
They built something
that was built to the web
and wasn't exactly
made for mobile.
And it's ‐‐ You know,
we went into it ‐‐
Okay, you gave us the excuses.
Now get to the
numbers. Okay, sure.
We had 31,000 users on the app.
We made $43,000 in revenue.
$17,000 of that was
from subscriptions,
and $25,000 of that
was from our first
integration partner.
And then, since then,
we've not been marketing,
as we've been building out
the next version of Tabby.
And are you still
on their platform?
What I wanted to do was
come to you guys today
and tell you we want to
switch to a new platform.
That urgency increased entirely
in the past few days
when they terminated
our contract early.
Ooh! O'Leary: Oh, good!
It is hitting the fan!
It just gets better!
Wow. Since then ‐‐ because
of all the issues, especially ‐‐
we went out, and we
sourced the best team.
We built an entirely new app
with our new development team.
Okay, well, that's great, but
when are you ready to release?
It's already under
review by Apple right now.
So it should be whenever they're
done... Got it. So you're ready to pop out.
In the next two weeks.
Is it a monthly subscription?
Yes, it's $19.99 a month.
Oh, that's expensive! $19.99?
It seems like a lot. Well,
is that expensive, or not?
In the dating
industry right now,
that's not
extraordinarily expensive.
But for a startup, it's
expensive. That's pretty average
for regular premium
subscriptions.
How much money have
you raised to this point?
For Tabby, we've raised no
money other than the equity grant.
See, to me, that's
the problem, right?
Because you had
to funnel everything
and do everything
on this other platform
for $50,000.
That's impossible. And
now here you are scrambling.
As Nirav will tell you,
and all of us will tell you,
growing an app is
difficult, competitive,
and really expensive
unless you just
find a unique niche.
You know, and maybe you
guys can make it take off virally,
but it's really, really hard.
And so, for those
reasons, I'm out.
Look, I wish you all
the best. Thank you.
Any time you can connect
people and animals
and create more
love in the world...
Good... it's a wonderful thing.
But it's not for me. I'm out.
Understandable.
What we have
right now is the car,
the keys, the map, the drivers.
We need the rocket fuel to be able
to take off, right? But you got no gas.
You got no gas, and
you got no money for gas.
We would love
some money for gas.
Look, we all love the passion.
But I will tell you
from starting Nextdoor
and growing it to over
50 million registered users,
it's very, very difficult
to get distribution.
You need to find a way
to break through the noise
of all those
existing dating apps
and make a name for yourself.
I think you probably
have a long way to go
to really build a
breakthrough tech app,
and for those reasons, I'm out.
Let ‐‐ Let me take
a stab at it this way.
I invested in a deal
called Basepaws
at a $2 million valuation.
We're raising $10 million at
a $40 million valuation now,
and she has built a huge
database of cat owners.
We may have the largest
cat database in America,
and I have become a cat
lover because it has cash flow.
I love cash flow.
Cat flow. Cat flow.
So here's an offer for you,
and this is the way I'm
thinking of structuring it.
Wow! Did
not see this coming.
I'm gonna offer you
$300,000 for 30%, okay?
It may be better if you had
maybe America's biggest
cat database on your side.
That's my offer.
What does that mean?
That's a good offer, guys.
You're starting
from scratch here.
That's a great offer.
That is a great offer.
Would you consider doing 25%
and meeting us in the middle?
No, is my answer.
The problem for me is,
I'm not really a
tech app, app expert.
You know, that's not really
my background or my thing.
I don't have as much to offer.
I hate saying this,
because Kevin does have
that company, Basepaws,
where I think could
be helpful to you.
And so, because I want
to do the best for cats
that I possibly can...
I will step aside
for the cat‐hater
but who can be the
cat helper to you.
What a lot of noise. I'm out.
Thank you, Lori.
Kevin's giving you
cash plus distribution,
because a partnership
with his company
will give you traffic.
And that's the
only thing you need
when you start this company.
You have everything else.
Kevin, it sounds
like a "purr‐fect" deal,
and we'd love to take
it and work with you.
‐Yeah, there you go. ‐Yeah!
Yay! Reow!
That's absolutely fantastic.
Thank you so much. Let's
have some fun with this.
Thank you.
That's great. Nice
meeting you guys, too.
Lot of social work to
do. Thank you so much.
Thank you. Thank you so much.
Thank you so much.
Oh, I knew there'd be one cat lover.
That's what I'm talking about, baby.
I'm glad! Let's go!
Ah! Let's go!
This is wonderful.
Kevin, I think you're
really gonna help her.
What I see is you
promoting the app
with a picture of you...
with a hairless cat.
I want you to
understand something.
I am building a cat empire.
Yes.
I'm the king of the litter.
King of the litter!
Next in the Tank
is a product to help
kids love washing up.
Hi, Sharks. I'm Amanat Anand.
I'm Shubham Issar,
and we're the
co‐founders of SoaPen.
We're seeking $100,000 for
10% equity in our company.
Shubham, did you
wash your hands?
Yes. But did you use soap?
What are you, my
mom? Of course I did.
We all know these are questions
parents have to ask
multiple times a day.
Let's face it ‐‐ kids don't like
stopping what they're
doing to wash their hands,
and when they do,
they don't wash properly
or for the right amount of time.
Plus, kids love
drawing on everything ‐‐
tables, walls, and even
on their own bodies.
We put these two
problems together
and created a solution.
SoaPen! SoaPen!
A colorful, soap‐filled pen
that kids can draw with.
With SoaPen, kids can
draw their germs away.
Kids draw fun designs
all over their hands,
just like the shark Amanat
is making right now.
Then they rub
their hands together
and rinse off just like normal.
SoaPen's gentle, vibrant,
and stain‐free formula
was designed to make kids
thoroughly wash their hands
for 20 to 40 seconds
to get all that
colorful soap off,
creating healthier kids
and happier parents.
Regardless of a pandemic,
hand washing with soap is
a golden rule of prevention.
It can save 1 out of 3 children
from catching the most
deadly diseases globally.
So, Sharks, who wants to make
handwashing fun
for kids with SoaPen?
Brilliant idea.
Why has nobody ever
thought of this? 'Cause they did.
We're using
food‐grade colorants,
and we are sulfate‐free,
phthalate free,
coconut‐derived.
So it is a very gentle
and mild formula.
It's pretty cool.
Mine smells, I
think, like blueberry.
Yep, Berry Blast. Yeah.
So, you know, it's smart
to put a fragrance to it,
'cause kids love that. Yeah.
It's a beautiful product.
It's really beautiful, and
it's a really neat idea.
How did you guys
come up with this?
So, Amanat and
I grew up in India.
At 17, we moved
to the United States
to study industrial design
at the Parsons School
of Design in New York.
Wow. We loved working together
while we were in college,
and we wanted to make sure
that we're using
our skills for good.
And we came across the UNICEF
Wearables for Good Challenge,
which highlighted
horrible statistics
around infant mortality
and how a ton of these
diseases can be avoided
by just washing
your hands with soap.
And that's how we came
up with the idea of SoaPen.
We went on to win the challenge
and use the prize
money to start R&D
and make SoaPen a reality.
Congratulations. Wow. Wow.
Thank you.
So, tell me, what
are your sales?
So, in lifetime, we've
done $85,000 in sales.
We launched a beta
version of SoaPen in 2019.
At the time, we hadn't
raised any funding
and had no marketing budget,
so we were definitely very lost.
But we got an article in
Real Simple magazine
in October of 2019,
and we had no idea what
the power of print media is.
We sold out of our entire
inventory in three weeks.
Which was how many?
It was 5,000 units...
That were left over.
That we sold out in three weeks.
So, you had that print. Yes.
You got a blip in sales. Yeah.
Are you still selling it?
So, that really validated
the demand for the product,
which was not something we
were sure of early on. Right.
And then it gave
us the confidence
to go out there, fundraise.
And we got a ton
of product feedback
from that first beta version.
And then we took that money
that we raised to go back ‐‐
How much did you raise?
So, we raised $225,000...
Wow... at
a $1 million valuation.
We just closed it. That's a lot.
All right, what does it
cost, and what is your cost?
So, it's $14.99
for a pack of three.
Manufacturing a
single pack of three is $4.30.
Our blended profit margin
across all channels is 40%.
How are you selling it?
What are you doing to
market and sell your product?
So, we've been
running ads on Amazon.
Right now, it's only
been two months,
so it's very hard to tell. What's
your return on ad spend?
It's ‐‐ We're still
determining that.
It's been two months,
so we don't have
a good number yet.
Well, that means it's not good
and you don't want to tell me.
We're overspending ‐‐ Because
two months is enough time.
One day is enough time. I know.
You have to make sure you're
getting that return on ad spend.
Otherwise, that money
disappears like that,
particularly with the
categories you're in. Yeah.
And let me
point something out, okay?
A product like this ‐‐
which has merit, okay?
I'm gonna give you a lot of
credit for what you've built here,
because it's a new iteration
of ‐‐ of soap for children
that is really
appealing ‐‐ I get it.
But what's missing in
your equation, all right,
is an understanding
of the sales process
and how you get
leverage to do that
and reducing your
customer acquisition costs.
Somebody should be
pounding out content every day
to the algorithms
set... - Yes.
By TikTok, by Instagram,
Twitter every day.
Because you want to get
these customers for free.
Really savvy marketers do
that with products like this,
and I don't think you
have that nailed down yet.
So, for that reason
‐‐ because I think
you're too early ‐‐ I'm out.
Look, guys,
you're not too early.
But you haven't found
the way to sell it yet.
I would get on every
message board on Facebook,
every Group I can find ‐‐
on Nextdoor and everywhere,
posting pictures,
posting videos,
and telling them
about your product.
That's a 24x7x365 job. Yeah.
You just have to eat,
sleep, and breathe it,
and it'd be relentless.
This is not, you know,
an investment for me.
So for those reasons, I'm out.
But I think you've
got a great product,
but you've just got to get
out there and be relentless.
Look, I‐I couldn't admire
or respect you more.
I wish you all the best,
but for now, I'm out.
Listen, ladies, you've
done a great job.
I mean, you're
just out of school,
and you create a product
that is a better
mousetrap, so to speak.
The best inventions
are things that are
just something smarter
than what already existed.
But it's just too early
for me as an investment.
I wish you good
luck, but I'm out.
Lori, kids need this right now,
especially with the
pandemic. They do.
They do. So, you know, we
finally have supply chain ‐‐
Lori's out. You
have one Shark left ‐‐
Nirav right here.
Well, guys, there is
so much to like about you.
Just listening to your story
and even seeing
you struggle up there,
it reminds me of being an
entrepreneur and trying to sell.
In fact, little‐known fact,
I had a company in between
my first success and Nextdoor,
and I pitched it to
Mr. Cuban over here.
And he treated
me not so differently
than some of the
Sharks are treating you.
A lot of good advice, but
ultimately, it wasn't right.
I think it may be
a little too early
for you to take on
more investment.
My advice to you guys
is to find some mentors
and continue to iterate.
I believe very
deeply in you guys.
But for those reasons,
as an investment, I'm out.
Okay. Thank you.
‐Good luck, guys.
‐Thank you so much, guys.
‐Good luck, guys.
‐Good luck, guys.
It's a great product.
‐We appreciate you.
Thank you. Thank you.
They were great.
They were great.
And I love the product.
Yeah, it's a great product.
It's super smart. I love this, I do.
I think I made a mistake.
They're down there somewhere.
Just go down there and get them.
We got a lot of good
advice out there arou‐‐
I'm so ‐‐ I'm so sorry
to interrupt. Hey, Nirav.
No, worries. Hi. Nice to meet you.
Hi, guys. I'm ‐‐ I'm sorry to interrupt.
Let me run something by you.
My beautiful wife, Megha Tolia,
for the last seven
years has been working
as an executive on the Method,
Mrs. Meyer's, and Ecover soap brands.
Oh, my God. That sounds wonderful.
So I think the two of us
together ‐‐ my wife and I ‐‐
could really help you get
this thing off the ground.
So does that sound like
something you want to consider?
What do you think? Is
this a joke? Of course!
Okay, it's not a
joke. It's not a joke.
But let's admit ‐‐
you're very early. Yes.
And there are lots of things
that have to happen. Definitely.
And so, here's the way
that I think about it. Yes.
Mm‐hmm. I'm happy
to put in the $100,000.
I would like to have 10%
of the company. Yeah.
However, for safety,
what I would like to
propose is a $1 royalty
that pays back $1 per unit sold
until I reach $200,000,
at which point, the
royalty goes away.
You have nothing
else that you owe me
besides the original 10%.
And I'm doing this not just
because I believe in SoaPen.
I'm really doing it because
I believe in you guys,
and I want to see you succeed.
That is our offer,
and I hope you accept it.
If you don't, not a problem.
We'll take it. We're on.
Let's do it! All right!
To SoaPen! Thank you so much!
We can't wait to meet your
wife. Wow, what a surprise!
Next up is a skincare line
with a potent
natural ingredient.
Hi, Sharks. I'm
Christina Funke Tegbe.
I'm from Houston, Texas,
and I'm seeking $250,000
for 10% of my company.
Growing up, my
family shared with me
the richness of my
African heritage,
including African
beauty secrets.
Growing from the
shea tree in Africa,
this nut produces what
we all know as shea butter.
And, boy, did I
love this moisturizer.
So it's no reason
my aunt in Nigeria
persuaded people
traveling from her village
to pack tubs of pure shea
butter to my family in Texas.
And when I say tubs...
I mean, this beauty right here.
Wrapped in cellophane.
Fancy, right?
But, Sharks, this
thing is magic.
Inspired by my own
heritage, I took this little gem
and turned it into 54 Thrones.
Standing for the 54
countries in Africa,
we partner directly with
African co‐operatives
to create our line of
clean beauty products
while promoting trade, not aid.
Our products are
decadent and divine,
from our Glow Body Oil to
our Moroccan Body Mask
and our award‐winning
African beauty butters.
54 Thrones is here to
celebrate the beauty,
the luxury, the romance
the motherland has to offer.
So, Sharks, who's
ready to spread
the 54 Thrones
wealth with the world?
Great presentation.
Pretty packaging here. There are some
samples in front of you for you to try.
These are some
of our best‐sellers.
What should we try first?
My favorite is our
African Beauty Butter
in the Egyptian lavender
and Moroccan mint scent.
So that would be in the purp‐‐ You
gotta tell me what we use these things for.
Right? So, our
products are universal.
You can use them
from hair to toe.
The beauty butters
are our best‐selling
hand and body butter.
Christina, they're very oily.
Obviously, that
must be by design.
So, they're a butter, right?
Which is different from lotions.
Many people are used
to water‐based lotions,
and water actually draws
out the moisture in your skin.
But shea butters and
another botanical oils,
they seal the
moisture into your skin.
You don't need much.
You don't need much.
Exactly, Kevin. I
think I used too much.
You probably did.
You need a towel.
Okay, let's dig into
the business itself.
So when did you start this?
Give us the background. Yes.
So, we just turned five
years old last month,
and it's been a long journey.
I'm a first‐generation American.
My father immigrated
here from Nigeria.
He was a janitor. He was a cook.
All this while in
school to be a CPA.
He always taught us to
have pride in who we were,
have pride in being Nigerian,
and just have
pride in ourselves.
And so, I went to school.
I have two master's.
I went to Tulane
University. Wow.
Wow. I have an MBA,
and I also have a master's
in health care administration.
‐Wow. ‐Good for you.
So, I worked as a
consultant for a few years,
and then I quit.
I had this calling
that I wanted to learn
more about my heritage.
I wanted to learn the language.
I wanted to learn my history.
So I quit my job.
I didn't quit my job to
just start this business,
but I quit my job because I
just ‐‐ I had a calling, right?
I cashed out my 401,
and I just started
traveling around Africa.
And while I was there,
I was just drawn to
all of the makers ‐‐
the hardworking women making
argan oil, making shea butter.
And so, I tagged
along with them.
I learned about these
African beauty secrets.
And then I said, "You know what?
I want to start a brand,
and I want to work directly
with everyone that I've met."
What are your sales?
So, last year, we made
a half a million dollars.
Good for you.
And that is with a very
tight marketing budget.
Last year, I spent about
$8,000 in marketing.
That's it? Tolia: Wow.
That's it.
A lot of our traction
came from word‐of‐mouth.
We also were on
"Oprah's Favorite Things."
Ah. So that tin that
you have in front of you
was part of "Oprah's
Favorite Things."
What were your
sales before Oprah?
We had already hit about
$300,000 in revenue.
Okay.
And a lot of that kind
of comes from the things
that were happening
in our society last year.
Black‐owned brands were
getting a lot of attention.
People were finding
them and loving them
and loving our products.
So it really wasn't a
matter of there not being
worthy Black‐owned brands.
People just couldn't find us.
We didn't have the
resources to be on the aisles,
to be on the shelves. And, Christina,
are you seeing that being sustained at all?
Absolutely.
I have fo‐‐ People that found us
last year are repeat customers.
We have people that are
stocking up on our stuff.
And so, we're on set to
make a million this year.
Wow. We're actually gonna
be launching in Sephora.
Whoa! Oh, whoa.
We're gonna be launching online
in Sephora U. S. and Canada.
Wow. And this holiday season,
we're actually gonna be
expanding to Nordstrom's.
So are you selling direct
to consumer, as well?
We're selling DTC on our site.
Last year, we were at 75% DTC,
and that's counting the
"Oprah's Favorite Things." Yep.
This year, it's gonna flip.
We're gonna be at about 25% DTC
and about 75% retail.
You have enough margin
to support the retail channel?
So, the butter set that
you have in front of you,
that cost me $12 to
make, and I sell it for $80.
Wow! You sell it for $80?
Good margins.
You know, I cannot fault
you for anything today.
You did a beautiful pitch.
There's only one problem for me.
I got to be passionate
about everything I invest in,
and I'm just not feeling that.
I'm out.
Christina, Christina.
Thank you. I respect that.
You're a rock star.
I mean, everything that
you've presented to us
has been right on from
a business perspective.
Problem is, I don't understand
what these things do.
In order for me to come
up with ways to help you,
I have to have a
fundamental understanding,
and I just don't.
So, for those reasons, I'm out.
Thank you, Mark.
So, your
presentation was flawless.
The great value of Mr. Wonderful
is my millions of followers.
And I sell a lot of
stuff on QVC, too.
But I just don't see
myself sitting there saying,
"I'm the right brand
representative."
But that's why you have me.
I'm the right brand
representative. No, I get it. I get it.
It's ‐‐ It's sort of ‐‐
As a pure investment,
I find it quite interesting,
'cause I think
this is gonna work.
I really do, 'cause I think
you're very good at selling it.
But I'm not adding any
value other than money.
In everything I do, I add
the Mr. Wonderful magic.
Mr. Wonderful, you are
an advertising genius.
That is what I
need. That's so true.
I took $8,000...
and turned that into a
half a million dollars last year.
Well, listen, you're very,
very, very impressive.
I recently did a deal
with a couple of young women
who had created not
only a cosmetic line,
but a skincare line
that goes with it.
Unfortunately, you
are so competitive
with what we're already
doing, I have to be out.
Thank you, Lori.
You know, I want to tell you,
you are so backable
as an entrepreneur.
You are so impressive.
Your story is so compelling.
You know what?
My wife has worked
for over eight years
at Neutrogena,
so I can almost hear
her whispering in my ear
that skincare is not a fad.
It's something
that's here to stay.
I'm willing to give
you half the money
if one of my fellow Sharks
will come in with me.
Three Sharks are out.
Nirav is interested
in Christina's
shea butter‐based
skincare line, 54 Thrones.
But he wants another
Shark to partner with him.
Okay, I'll do $250,000 for 20%.
If you want to come
in for half, you're there.
And we'll back you...
I'm definitely there.
And we'll blow this thing up.
I am completely in on the offer
because I think what
you're building here
is not just a company,
I think it is a movement,
and I'd like to be part of it.
Can we do $250,000 for 15%?
Think about this. It
makes me be a 7 1/2% guy.
That's just not a lot.
7 1/2% of $100
million‐company... No, I get that.
Is still a good
size. Listen, I get it.
But think about the story here.
You've got an entrepreneur here
with a proven track record
of growing a behemoth
and, in his family,
some incredible
expertise in your sector.
You have me, which has
a massive following socially
and a lot of television
exposure, okay?
Listen, listen, I
believe in you so much
that I'm willing to put in
half of the amount
just like Kevin,
and you can give him
more equity to satisfy ‐‐
I'm not gonna say the
greedy Mr. Wonderful,
but I want to support
you. I just need 10%.
So, what's the offer?
What would be the offer?
So you want $250,000 for 15%?
I want $250,000 for 10%.
- You raised it again!
- You go, girl.
I'm not doing that deal.
I'm not gonna do that deal.
So, look, we ‐‐ we gotta
stick to our guns on this one.
So I'll let Kevin do the
whole thing if he wants.
If you would like
both of us to be in ‐‐
I want both of ‐‐ I want both Sharks.
Of course you should have two Sharks,
but think about it
‐‐ you have to let us
wet our beaks in the butter.
Will you do $250,000 for 17%?
It's so close to 20%.
Will you please do ‐‐
But he said he'd give you
more equity, so if he takes ‐‐
Guys, our platform
is trade, not aid.
I'll take 7%, he can take 10%.
We'll do it 50/50.
7 1/2%. 7 1/2%.
Yeah. Fine, 7 1/2%.
17 1/2%, $250,000.
Yes!
‐Yes!
‐Thank you!
Congratulations.
Two Sharks!
Great job.
Thank you.
Great job.
Congrats.
Thank you.
Fantastic presentation.
Thank you.
Yes!
I got two Sharks.
So, it's just doubly everything.
I cannot wait
to call my partners
in Ghana and Morocco
and tell them what happened,
because I told them
I was going to "Shark Tank,"
and I don't know
if they knew what it was,
but they prayed for me,
and it worked out.
veteran Nirav Tolia joins the Tank.
Nirav is the founder of social
media phenomenon Nextdoor.
I've been the CEO of
three different companies
in Silicon Valley.
I know how to bring
it to the masses.
We have created
the world's first
custom‐fitted swimming goggles.
All of our products are inspired
by traditional Moroccan
hammam spas.
Whoo! Whoo!
It can save 1 out of 3 children
from catching the
most deadly diseases.
Why has nobody ever
thought of this? 'Cause they did.
When you have a new category,
it's not where you
are, it's where you'll be.
I think what
you're building here
is not just a company,
I think it is a movement.
Good luck, Nirav. Thanks
for having me, guys.
Oh, you won't say
that in about two hours.
Yeah, right.
We shall see.
First in the
Tank is a new innovation
in the fitness accessory space.
Hi, Sharks. I'm Rasmus.
And I'm Bo. We're
from TheMagic5.
We all know Sharks have
excellent vision underwater,
but it's not easy
for everyone else
and that is why we
wear swimming goggles.
But most swimming goggles today
either leak or are
uncomfortable,
and it makes total sense.
Of course they do.
All of our faces are different.
Swimming goggles
are one‐size‐fits‐all.
And that is why we have
created the world's first
custom‐fitted
swimming goggles. Wow.
It only takes 13 seconds
to scan your face,
and we'll deliver the goggles
directly to your doorstep.
Our app‐based
scanning technology
ensures a perfectly
fitting goggle
with no leakage and
no marks after use.
Some of the world's
very best swimmers
and triathletes, they
already wear our goggles.
But we want all swimmers
to get a pair of our goggles.
And to accomplish that,
we're seeking $500,000
for 2 1/2% of our company.
‐Whoa. ‐Whoa.
Hello. Wow.
So, Sharks, who wants
to help create magic?
Sharks, in front of you,
you have two goggles.
You can try them on,
but they won't fit you
because you haven't
scanned your face,
so we haven't been
able to produce a pair
of goggles for you.
Have a look at the
part of the goggle
that touches your face.
You can see that
gasket is different
from the two
goggles that you have,
and that is really
our secret sauce.
And what do they sell for? $55.
They're very dark.
That is for outdoor swimming.
So, we have, like, ranges
from super light one ‐‐
totally clear ‐‐ to
very, very dark.
And the design of the goggle
means that you have
a great peripheral view,
which is super useful so
you can navigate better.
How big is the goggle market?
In the U. S. and
Europe, $2.2 billion.
Wait, how
much? $2.2 billion?
I'm not surprised. I'm not surprised.
No, there's cha‐‐ In the U. S.?
I have three young
sons. They were goggles.
All of their friends
wear goggles.
But for a $20 million valuation,
I'm guessing you've
already sold a lot of these.
Yeah, so, we have
40,000 customers so far.
Our lifetime
revenue is $3 million.
When did you start?
We started it in 2018,
and we have been growing
like three times every year.
It's so logical.
I mean, my glasses
are made for me.
Why have swimming goggles
never been custom‐made?
So, we are a
triathlete, both of us.
I went on a vacation.
I forgot my goggles,
but I had to swim.
And then I purchased all
the goggles that I could find.
None of them fit me.
Then, I called
the best triathlete
that I knew at the time.
That was Rasmus, my nephew.
Oh, he's your nephew? Yes.
Where are you from?
We're from Denmark.
Oh!
I don't understand why
you're only charging $55.
Why aren't these $99?
So, we wanted to charge
in the middle of the other
high‐end goggles, right?
We didn't want price to be
an issue for our customers.
What does it cost to make it?
It costs $14.
Okay, and what is the
customer acquisition cost?
That is $24.
Okay, so, guys,
nobody comes in here
asking for $500,000 for 2 1/2%.
That's always to protect
your previous investors.
So tell us, how much
money have you raised?
We have raised $1.5 million.
At what valuation?
The last valuation that we had
was $9 million.
Can you walk us through
how the ramp has gone
over, let's say, the
last three years?
In 2018, when we
delivered the first goggles,
our revenue was $180,000.
The year after, it was $370,000.
Last year, it was $1.2 million.
Wow. And so far, this
year, we're at $1.5 million.
Impressive.
So, where are you based,
and where do you manufacture?
So, I moved to Charlotte, and
Rasmus moved to New York.
So we basically
convinced our wives
to make the bet and
move to the U. S.
Why did you choose
to move to the U. S.?
The market here is better...
and the relative
number of swimmers
is slightly higher than Europe.
So, then, your manufacturing...
Yeah... where is that done?
So, we get some of
our parts from China,
and then all the
customization happens
in Charlotte, North Carolina.
Do you have any
type of IP coverage?
We have a utility patent
on the fitting algorithm.
So, you manufacture the goggles,
and you have to
customize them to fit.
What is that process like?
Yeah, so we used advanced
robotics technology to do it.
Are you using
third‐party robotics,
or are you developing
it all yourself?
So, all the software
to control the robot
is, of course, made by us.
Not all companies can
make robotics, right?
Mark, it's a goggle company,
not a robotics company.
No, it's a robotics company
that makes goggles right now.
That's exactly right. Exactly.
Look, when you
have a unique niche
and you're developing
a new category,
it's not where you
are, it's where you'll be.
I'll offer you the $500,000,
but I want 7 1/2%.
And I don't want you to
negotiate with everybody,
'cause you already know that they're
flipping them out. Well, wait a second, Mark.
- There may be other offers.
- He's putting the clock on you.
That means he doesn't want
you to hear anything else.
If you're more concerned
about that equity,
the two of us have an offer
you may find very
interesting, okay?
Guys, I already have
a robotics company
that I'm an investor in.
I have AI companies.
I have machine
learning companies.
I have AR companies.
And, obviously, being
in the sports industry,
I have a platform. But you
may not want to give up 7 1/2%.
Well, that's why,
if that's too much,
then I'll listen to a counter.
Just so you have it,
Let me give you an offer
that two Sharks want
to give you, okay?
And you can get both the
sales and the technology.
So, how about this deal?
Venture debt deal.
$500,000, all right,
between the two of us,
and we're going to
charge you $3 a unit
until we recoup $1.5 million.
Then the royalty goes away.
But we're only gonna
ask for 5% equity.
And you get two Sharks.
Or, Rasmus, let me tell you.
So, my daughter was
a world‐class swimmer.
In fact, she was ranked
in the top 10 in the world
in the butterfly when
she was 12 years old.
I've spent 18 years at
swimming pools.
I get this market.
I'll do $500,000
for 5%, no royalty.
I just want to say, what
you need are partners.
So with Mr. Wonderful, you
know what you're gonna get.
Nothing.
Nothing. Exactly.
Right?
Nothing except for
what will help you
scale your business.
I've been the CEO of
three different companies
in Silicon Valley.
I know how to build
extremely large audiences
cost‐effectively.
You have an amazing product.
But now, how are we
gonna bring it to the masses?
That's the kind of
problem that I've solved
over the last 20 years.
Wait a minute.
You need somebody
who will really help you
blast these out ‐‐ sell 'em.
I'm a product person.
I like to blow up sales.
I like to move fast, and
I like to blitz the market.
And that's what I'm good at.
So, Lori, do you have an offer?
All Sharks are still in,
and there's a bidding war
over custom swim goggles
company, TheMagic5.
So, Lori, do you have an offer?
I'm not gonna offer you tech,
but I'm gonna offer
you a lot of sales.
I mean, I have Mark,
and I have Robert,
who have both given you
offers, and they're on the tech end.
And I would join
either one of them
to blow up your sales.
But what's your offer?
Well, I'm asking them, do
either of you want me to come in?
That was a very good question.
But I think that it
comes down to,
what were you hoping
to get here today?
In the next short while,
do you need to boost sales?
Do you need to boost strategy?
Do you need to boost tech?
Guys, guys. We've
all been entrepreneurs,
and we know you can't choose.
You have to do both. Mm.
You need to generate sales,
and you need to answer
the strategic questions
about how to best
build the business.
Well ‐‐ Nirav has a fantastic
track record doing this.
I mean, he can really help. Cuban:
Guys, the only thing I'll tell you is,
I've been first or second
investor in six unicorns,
so it's not like I don't know
how to grow
companies that I've built.
Guys, look, I think I'd be
happy to partner with Lori.
I'm happy with the 5%.
How do we split that 5%?
Guys, we'll drop down 1%
just to be more competitive.
Because we're asking
for 5%, we'll go to 4%.
We want that royalty
structure in place,
but it's not perpetual.
We get back our capital.
It's not even that
great a return,
but we stay in the game.
But you get three
times the capital, right?
No, we're only making a
million bucks off $500,000.
So we're willing to
go down on the equity.
And, guys,
like I said... Yeah.
I'll listen to a counteroffer.
And we have a
counter. And so will we.
Yeah.
Robert and I are gonna
do the $500,000 ‐‐ 6%.
No royalty. No royalty.
Wasn't the offer 5%? It was.
That was the first offer,
so now it's gotten worse.
Got worse by a percent,
but you get two Sharks.
I'm happy to do the
$500,000 for 5% on my own.
I think Lori brings a
tremendous amount of it
that gives you the sales.
But we need a
little more equity.
All of these offers that
are 5% and 6% and 7 1/2%
cause pain to your
existing shareholder base.
We understand that.
Nirav and I are gonna
change our offer yet again
down to 3% equity.
So now we're totally aligned
with your existing shareholders.
If you think this company is
gonna be worth a lot... Mm‐hmm.
The equity is where
the real value is long‐term.
Guys, guys.
I gotta get this deal.
I'm gonna change my offer.
I'll give you $1 million...
for 6 1/2%.
Whoa.
It's a crazy offer for me.
Right now.
We'll take it. All right!
Perfect.
Wow. Good job.
Yeah!
Thank you, thank
you. Very excited.
I'm excited! Good job, guys.
Congrats. Nice job.
Great job, guys.
It's perfect. That was crazy.
Good stuff.
Robert was our favorite
investor going into the show.
He can really help us
take the goggle
business to the next level.
You're all‐in now. I'm
bummed that I lost that one.
I think where you went wrong
was partnering with Kevin.
Because when you
have an athletic product...
I'm a fine‐tuned
athlete, Robert.
Boom!
I grew up in this small town
in West Texas called Odessa,
and many people may
have heard of Odessa
because of "Friday
Night Lights."
It's a football town.
I didn't know it at the time,
but it was really
setting the stage
for me to think about
how much I enjoyed
this strong and supportive
sense of community around me.
My parents are my
greatest role models.
They are Indian immigrants
who came to this country
with $100 in their pockets
and their education.
They are physicians,
and they have lived
the American dream.
My parents always told me
to dream as big as possible.
They never limited my ambition.
It didn't matter that we
were living in Odessa, Texas.
When I was a kid, I always
wanted to be a doctor.
I was lucky to
get into Stanford,
but something really
strange happened at Stanford.
I wasn't enjoying it.
My parents are
successful doctors.
I'm at this incredible
place ‐‐ Stanford.
Why is my dream of
being a surgeon like my dad
not working out?
Inside, there was
this voice telling me
that what I loved to
do was build things.
Not only is Stanford
an amazing school,
it's in Silicon Valley,
and we saw the
creation of the Internet.
All around me, these
companies were starting.
And so I talked to my
parents about taking one year
and working at
this place, Yahoo!
And it was like
winning the lottery.
I was at a place
that was the center
of the first Internet boom,
and it taught me to dream.
It made me want to
be an entrepreneur
and to build my own company.
In 1999, I left Yahoo!
And started Epinions.
Ultimately, the company
was purchased by eBay
for $620 million in cash.
In the summer of 2008,
we started Fanbase,
my next company ‐‐
an online community
around the passion
that sports fans have
for their favorite
athletes and teams.
After almost two years
of running Fanbase,
we had to shut things down.
I was so tired. I felt
like we had failed.
How could I come
up with a new idea?
But we decided
that we wouldn't quit,
and we gave it a try.
We saw the emergence
of social networks ‐‐
Facebook to
communicate with friends,
LinkedIn to connect
with our colleagues.
But there was no community
being formed online
for the community
in which we live.
That led to the
creation of Nextdoor.
Nextdoor had a
mission to create safer,
happier neighborhoods.
We knew almost immediately
that it was having an impact,
and Nextdoor
became that lifeline
that connected over 50 million
neighbors in 11 countries.
From a company
that was worth nothing
to being worth over $4 billion.
I'm excited to be a Shark
because I love entrepreneurship.
While I admire the Sharks,
I admire the
entrepreneurs even more.
I have been so lucky in
my professional career,
and so many people
have lifted me up.
This is my opportunity
to do the same.
I want those entrepreneurs to
know that they have someone
who has stood in their shoes
and will help them
get to the next level.
Next up is a way for
people with common interests
to find each other.
Aww.
Hi, Sharks. I'm Nathan.
And I'm Sterling. And I'm Leigh,
from New Orleans, Louisiana.
We're seeking $300,000
for 20% equity in
our company, Tabby.
Sharks, you may not believe it,
but these handsome men
have been ripped to shreds
on general dating apps...
all because of
something they love.
Pussy... cats!
Here are real messages
these successful,
passionate guys have
gotten on general dating apps.
"My friend says
you have four cats.
That's four red flags."
"Ugh, do you sleep
with that thing?"
"Would you be willing to
give up your cats for me?"
Studies show that
men who have cats
in their profile
photos perform worse
and get fewer matches
on general dating apps.
No.
That's why we created Tabby,
the cat person's dating app.
All right, boys,
go be yourselves.
Tabby is a safe space.
Tabby is a familiar dating app.
You swipe left, or you
swipe right on people.
But it also has a specific area
asking you about your cats.
Like, "How much do you
spend on your cat a month?"
Or, "Does he or she sleep in
the bed with you every night?"
Of course she
does. All my cats do.
Tabby also provides
a community space
for everyone on the app ‐‐
The Cat Tree,
where you can share
your favorite cat‐friendly
cafe or suggest date ideas.
Like
volunteering at Sterling's nonprofit,
or curling up with
me and my four kitties
and nice bottle of wine.
So, Sharks, say goodbye
to these local
adoptable kittens for now.
Aww. The
boys will be right back.
Aww. And join us
as we help people
determine who they want
to spend the rest of
their nine lives with...
based on
their love for cats, with Tabby.
Leigh, it seems crazy to me.
How did you come
up with this idea?
Well, actually, I started
a different dating
app a few years ago.
I first started Dig, the
dog person's dating app.
After growing that with
my sister for a few years,
we are now in
acquisition conversations
with a dog food company.
Wow. Wow.
Over those few years,
we heard from a
lot of cat people.
One of the things we learned
was that there aren't places
like dog parks for
cat people to go out
and meet each other.
That's true! And there's
this stigma around cat people.
That's terrible.
Are the rest of you
guys doing Dig also?
No, we're strictly
here on Tabby.
Both of us actually work
as social media influencers.
I work as Nathan The Cat Lady,
as you can see by
the cutout behind me.
And then I met Sterling
at one of the cat conventions...
and
we kind of hit it off.
I go by Sterling
"TrapKing" Davis ‐‐
TrapKing, named after
my cat rescue nonprofit.
I am one of one.
Cat rescue is usually
something done by
middle‐aged white women.
I am the only Black man
that you will see...
that sold everything
and lives out of his vehicle
and rescue cats.
‐Good for you. ‐Good for you.
How many cat owners
are there in the first place?
Great question.
17 million single cat
owners in the U. S.
A lot of people don't
know how many cat people
are actually out there
'cause most of us
are ashamed to come out with it.
I'm a cat lover.
I do not understand why
there is cat shame at all.
Why is there cat shame?
I have no idea.
'Cause it's not cool, Lori!
Oh, that is so not right. You're not
gonna walk your cat down the street.
Cats are so cool. Okay, okay.
Can you give me some statistics?
There is no animal cooler than
a lion. When did you get started?
How many people
are using the app?
What have you learned so far?
So, last summer, we had the
opportunity to launch Tabby
because we won the
Million Dollar Dating Project.
What is that? It is a grant
from a dating platform company,
and they gave us $50,000
in equity‐free grant money
to be able to
market the platform.
And we could use their platform,
put our branding on it,
then market from there.
We launched on
International Cat Day
on this pre‐made
platform. Of course you did.
When we launched,
there were a massive amount
of problems on the platform.
Oh, good. I hate
when that happens!
Yes, when we first launched,
that platform had all of
the development made.
We brought our branding.
They built something
that was built to the web
and wasn't exactly
made for mobile.
And it's ‐‐ You know,
we went into it ‐‐
Okay, you gave us the excuses.
Now get to the
numbers. Okay, sure.
We had 31,000 users on the app.
We made $43,000 in revenue.
$17,000 of that was
from subscriptions,
and $25,000 of that
was from our first
integration partner.
And then, since then,
we've not been marketing,
as we've been building out
the next version of Tabby.
And are you still
on their platform?
What I wanted to do was
come to you guys today
and tell you we want to
switch to a new platform.
That urgency increased entirely
in the past few days
when they terminated
our contract early.
Ooh! O'Leary: Oh, good!
It is hitting the fan!
It just gets better!
Wow. Since then ‐‐ because
of all the issues, especially ‐‐
we went out, and we
sourced the best team.
We built an entirely new app
with our new development team.
Okay, well, that's great, but
when are you ready to release?
It's already under
review by Apple right now.
So it should be whenever they're
done... Got it. So you're ready to pop out.
In the next two weeks.
Is it a monthly subscription?
Yes, it's $19.99 a month.
Oh, that's expensive! $19.99?
It seems like a lot. Well,
is that expensive, or not?
In the dating
industry right now,
that's not
extraordinarily expensive.
But for a startup, it's
expensive. That's pretty average
for regular premium
subscriptions.
How much money have
you raised to this point?
For Tabby, we've raised no
money other than the equity grant.
See, to me, that's
the problem, right?
Because you had
to funnel everything
and do everything
on this other platform
for $50,000.
That's impossible. And
now here you are scrambling.
As Nirav will tell you,
and all of us will tell you,
growing an app is
difficult, competitive,
and really expensive
unless you just
find a unique niche.
You know, and maybe you
guys can make it take off virally,
but it's really, really hard.
And so, for those
reasons, I'm out.
Look, I wish you all
the best. Thank you.
Any time you can connect
people and animals
and create more
love in the world...
Good... it's a wonderful thing.
But it's not for me. I'm out.
Understandable.
What we have
right now is the car,
the keys, the map, the drivers.
We need the rocket fuel to be able
to take off, right? But you got no gas.
You got no gas, and
you got no money for gas.
We would love
some money for gas.
Look, we all love the passion.
But I will tell you
from starting Nextdoor
and growing it to over
50 million registered users,
it's very, very difficult
to get distribution.
You need to find a way
to break through the noise
of all those
existing dating apps
and make a name for yourself.
I think you probably
have a long way to go
to really build a
breakthrough tech app,
and for those reasons, I'm out.
Let ‐‐ Let me take
a stab at it this way.
I invested in a deal
called Basepaws
at a $2 million valuation.
We're raising $10 million at
a $40 million valuation now,
and she has built a huge
database of cat owners.
We may have the largest
cat database in America,
and I have become a cat
lover because it has cash flow.
I love cash flow.
Cat flow. Cat flow.
So here's an offer for you,
and this is the way I'm
thinking of structuring it.
Wow! Did
not see this coming.
I'm gonna offer you
$300,000 for 30%, okay?
It may be better if you had
maybe America's biggest
cat database on your side.
That's my offer.
What does that mean?
That's a good offer, guys.
You're starting
from scratch here.
That's a great offer.
That is a great offer.
Would you consider doing 25%
and meeting us in the middle?
No, is my answer.
The problem for me is,
I'm not really a
tech app, app expert.
You know, that's not really
my background or my thing.
I don't have as much to offer.
I hate saying this,
because Kevin does have
that company, Basepaws,
where I think could
be helpful to you.
And so, because I want
to do the best for cats
that I possibly can...
I will step aside
for the cat‐hater
but who can be the
cat helper to you.
What a lot of noise. I'm out.
Thank you, Lori.
Kevin's giving you
cash plus distribution,
because a partnership
with his company
will give you traffic.
And that's the
only thing you need
when you start this company.
You have everything else.
Kevin, it sounds
like a "purr‐fect" deal,
and we'd love to take
it and work with you.
‐Yeah, there you go. ‐Yeah!
Yay! Reow!
That's absolutely fantastic.
Thank you so much. Let's
have some fun with this.
Thank you.
That's great. Nice
meeting you guys, too.
Lot of social work to
do. Thank you so much.
Thank you. Thank you so much.
Thank you so much.
Oh, I knew there'd be one cat lover.
That's what I'm talking about, baby.
I'm glad! Let's go!
Ah! Let's go!
This is wonderful.
Kevin, I think you're
really gonna help her.
What I see is you
promoting the app
with a picture of you...
with a hairless cat.
I want you to
understand something.
I am building a cat empire.
Yes.
I'm the king of the litter.
King of the litter!
Next in the Tank
is a product to help
kids love washing up.
Hi, Sharks. I'm Amanat Anand.
I'm Shubham Issar,
and we're the
co‐founders of SoaPen.
We're seeking $100,000 for
10% equity in our company.
Shubham, did you
wash your hands?
Yes. But did you use soap?
What are you, my
mom? Of course I did.
We all know these are questions
parents have to ask
multiple times a day.
Let's face it ‐‐ kids don't like
stopping what they're
doing to wash their hands,
and when they do,
they don't wash properly
or for the right amount of time.
Plus, kids love
drawing on everything ‐‐
tables, walls, and even
on their own bodies.
We put these two
problems together
and created a solution.
SoaPen! SoaPen!
A colorful, soap‐filled pen
that kids can draw with.
With SoaPen, kids can
draw their germs away.
Kids draw fun designs
all over their hands,
just like the shark Amanat
is making right now.
Then they rub
their hands together
and rinse off just like normal.
SoaPen's gentle, vibrant,
and stain‐free formula
was designed to make kids
thoroughly wash their hands
for 20 to 40 seconds
to get all that
colorful soap off,
creating healthier kids
and happier parents.
Regardless of a pandemic,
hand washing with soap is
a golden rule of prevention.
It can save 1 out of 3 children
from catching the most
deadly diseases globally.
So, Sharks, who wants to make
handwashing fun
for kids with SoaPen?
Brilliant idea.
Why has nobody ever
thought of this? 'Cause they did.
We're using
food‐grade colorants,
and we are sulfate‐free,
phthalate free,
coconut‐derived.
So it is a very gentle
and mild formula.
It's pretty cool.
Mine smells, I
think, like blueberry.
Yep, Berry Blast. Yeah.
So, you know, it's smart
to put a fragrance to it,
'cause kids love that. Yeah.
It's a beautiful product.
It's really beautiful, and
it's a really neat idea.
How did you guys
come up with this?
So, Amanat and
I grew up in India.
At 17, we moved
to the United States
to study industrial design
at the Parsons School
of Design in New York.
Wow. We loved working together
while we were in college,
and we wanted to make sure
that we're using
our skills for good.
And we came across the UNICEF
Wearables for Good Challenge,
which highlighted
horrible statistics
around infant mortality
and how a ton of these
diseases can be avoided
by just washing
your hands with soap.
And that's how we came
up with the idea of SoaPen.
We went on to win the challenge
and use the prize
money to start R&D
and make SoaPen a reality.
Congratulations. Wow. Wow.
Thank you.
So, tell me, what
are your sales?
So, in lifetime, we've
done $85,000 in sales.
We launched a beta
version of SoaPen in 2019.
At the time, we hadn't
raised any funding
and had no marketing budget,
so we were definitely very lost.
But we got an article in
Real Simple magazine
in October of 2019,
and we had no idea what
the power of print media is.
We sold out of our entire
inventory in three weeks.
Which was how many?
It was 5,000 units...
That were left over.
That we sold out in three weeks.
So, you had that print. Yes.
You got a blip in sales. Yeah.
Are you still selling it?
So, that really validated
the demand for the product,
which was not something we
were sure of early on. Right.
And then it gave
us the confidence
to go out there, fundraise.
And we got a ton
of product feedback
from that first beta version.
And then we took that money
that we raised to go back ‐‐
How much did you raise?
So, we raised $225,000...
Wow... at
a $1 million valuation.
We just closed it. That's a lot.
All right, what does it
cost, and what is your cost?
So, it's $14.99
for a pack of three.
Manufacturing a
single pack of three is $4.30.
Our blended profit margin
across all channels is 40%.
How are you selling it?
What are you doing to
market and sell your product?
So, we've been
running ads on Amazon.
Right now, it's only
been two months,
so it's very hard to tell. What's
your return on ad spend?
It's ‐‐ We're still
determining that.
It's been two months,
so we don't have
a good number yet.
Well, that means it's not good
and you don't want to tell me.
We're overspending ‐‐ Because
two months is enough time.
One day is enough time. I know.
You have to make sure you're
getting that return on ad spend.
Otherwise, that money
disappears like that,
particularly with the
categories you're in. Yeah.
And let me
point something out, okay?
A product like this ‐‐
which has merit, okay?
I'm gonna give you a lot of
credit for what you've built here,
because it's a new iteration
of ‐‐ of soap for children
that is really
appealing ‐‐ I get it.
But what's missing in
your equation, all right,
is an understanding
of the sales process
and how you get
leverage to do that
and reducing your
customer acquisition costs.
Somebody should be
pounding out content every day
to the algorithms
set... - Yes.
By TikTok, by Instagram,
Twitter every day.
Because you want to get
these customers for free.
Really savvy marketers do
that with products like this,
and I don't think you
have that nailed down yet.
So, for that reason
‐‐ because I think
you're too early ‐‐ I'm out.
Look, guys,
you're not too early.
But you haven't found
the way to sell it yet.
I would get on every
message board on Facebook,
every Group I can find ‐‐
on Nextdoor and everywhere,
posting pictures,
posting videos,
and telling them
about your product.
That's a 24x7x365 job. Yeah.
You just have to eat,
sleep, and breathe it,
and it'd be relentless.
This is not, you know,
an investment for me.
So for those reasons, I'm out.
But I think you've
got a great product,
but you've just got to get
out there and be relentless.
Look, I‐I couldn't admire
or respect you more.
I wish you all the best,
but for now, I'm out.
Listen, ladies, you've
done a great job.
I mean, you're
just out of school,
and you create a product
that is a better
mousetrap, so to speak.
The best inventions
are things that are
just something smarter
than what already existed.
But it's just too early
for me as an investment.
I wish you good
luck, but I'm out.
Lori, kids need this right now,
especially with the
pandemic. They do.
They do. So, you know, we
finally have supply chain ‐‐
Lori's out. You
have one Shark left ‐‐
Nirav right here.
Well, guys, there is
so much to like about you.
Just listening to your story
and even seeing
you struggle up there,
it reminds me of being an
entrepreneur and trying to sell.
In fact, little‐known fact,
I had a company in between
my first success and Nextdoor,
and I pitched it to
Mr. Cuban over here.
And he treated
me not so differently
than some of the
Sharks are treating you.
A lot of good advice, but
ultimately, it wasn't right.
I think it may be
a little too early
for you to take on
more investment.
My advice to you guys
is to find some mentors
and continue to iterate.
I believe very
deeply in you guys.
But for those reasons,
as an investment, I'm out.
Okay. Thank you.
‐Good luck, guys.
‐Thank you so much, guys.
‐Good luck, guys.
‐Good luck, guys.
It's a great product.
‐We appreciate you.
Thank you. Thank you.
They were great.
They were great.
And I love the product.
Yeah, it's a great product.
It's super smart. I love this, I do.
I think I made a mistake.
They're down there somewhere.
Just go down there and get them.
We got a lot of good
advice out there arou‐‐
I'm so ‐‐ I'm so sorry
to interrupt. Hey, Nirav.
No, worries. Hi. Nice to meet you.
Hi, guys. I'm ‐‐ I'm sorry to interrupt.
Let me run something by you.
My beautiful wife, Megha Tolia,
for the last seven
years has been working
as an executive on the Method,
Mrs. Meyer's, and Ecover soap brands.
Oh, my God. That sounds wonderful.
So I think the two of us
together ‐‐ my wife and I ‐‐
could really help you get
this thing off the ground.
So does that sound like
something you want to consider?
What do you think? Is
this a joke? Of course!
Okay, it's not a
joke. It's not a joke.
But let's admit ‐‐
you're very early. Yes.
And there are lots of things
that have to happen. Definitely.
And so, here's the way
that I think about it. Yes.
Mm‐hmm. I'm happy
to put in the $100,000.
I would like to have 10%
of the company. Yeah.
However, for safety,
what I would like to
propose is a $1 royalty
that pays back $1 per unit sold
until I reach $200,000,
at which point, the
royalty goes away.
You have nothing
else that you owe me
besides the original 10%.
And I'm doing this not just
because I believe in SoaPen.
I'm really doing it because
I believe in you guys,
and I want to see you succeed.
That is our offer,
and I hope you accept it.
If you don't, not a problem.
We'll take it. We're on.
Let's do it! All right!
To SoaPen! Thank you so much!
We can't wait to meet your
wife. Wow, what a surprise!
Next up is a skincare line
with a potent
natural ingredient.
Hi, Sharks. I'm
Christina Funke Tegbe.
I'm from Houston, Texas,
and I'm seeking $250,000
for 10% of my company.
Growing up, my
family shared with me
the richness of my
African heritage,
including African
beauty secrets.
Growing from the
shea tree in Africa,
this nut produces what
we all know as shea butter.
And, boy, did I
love this moisturizer.
So it's no reason
my aunt in Nigeria
persuaded people
traveling from her village
to pack tubs of pure shea
butter to my family in Texas.
And when I say tubs...
I mean, this beauty right here.
Wrapped in cellophane.
Fancy, right?
But, Sharks, this
thing is magic.
Inspired by my own
heritage, I took this little gem
and turned it into 54 Thrones.
Standing for the 54
countries in Africa,
we partner directly with
African co‐operatives
to create our line of
clean beauty products
while promoting trade, not aid.
Our products are
decadent and divine,
from our Glow Body Oil to
our Moroccan Body Mask
and our award‐winning
African beauty butters.
54 Thrones is here to
celebrate the beauty,
the luxury, the romance
the motherland has to offer.
So, Sharks, who's
ready to spread
the 54 Thrones
wealth with the world?
Great presentation.
Pretty packaging here. There are some
samples in front of you for you to try.
These are some
of our best‐sellers.
What should we try first?
My favorite is our
African Beauty Butter
in the Egyptian lavender
and Moroccan mint scent.
So that would be in the purp‐‐ You
gotta tell me what we use these things for.
Right? So, our
products are universal.
You can use them
from hair to toe.
The beauty butters
are our best‐selling
hand and body butter.
Christina, they're very oily.
Obviously, that
must be by design.
So, they're a butter, right?
Which is different from lotions.
Many people are used
to water‐based lotions,
and water actually draws
out the moisture in your skin.
But shea butters and
another botanical oils,
they seal the
moisture into your skin.
You don't need much.
You don't need much.
Exactly, Kevin. I
think I used too much.
You probably did.
You need a towel.
Okay, let's dig into
the business itself.
So when did you start this?
Give us the background. Yes.
So, we just turned five
years old last month,
and it's been a long journey.
I'm a first‐generation American.
My father immigrated
here from Nigeria.
He was a janitor. He was a cook.
All this while in
school to be a CPA.
He always taught us to
have pride in who we were,
have pride in being Nigerian,
and just have
pride in ourselves.
And so, I went to school.
I have two master's.
I went to Tulane
University. Wow.
Wow. I have an MBA,
and I also have a master's
in health care administration.
‐Wow. ‐Good for you.
So, I worked as a
consultant for a few years,
and then I quit.
I had this calling
that I wanted to learn
more about my heritage.
I wanted to learn the language.
I wanted to learn my history.
So I quit my job.
I didn't quit my job to
just start this business,
but I quit my job because I
just ‐‐ I had a calling, right?
I cashed out my 401,
and I just started
traveling around Africa.
And while I was there,
I was just drawn to
all of the makers ‐‐
the hardworking women making
argan oil, making shea butter.
And so, I tagged
along with them.
I learned about these
African beauty secrets.
And then I said, "You know what?
I want to start a brand,
and I want to work directly
with everyone that I've met."
What are your sales?
So, last year, we made
a half a million dollars.
Good for you.
And that is with a very
tight marketing budget.
Last year, I spent about
$8,000 in marketing.
That's it? Tolia: Wow.
That's it.
A lot of our traction
came from word‐of‐mouth.
We also were on
"Oprah's Favorite Things."
Ah. So that tin that
you have in front of you
was part of "Oprah's
Favorite Things."
What were your
sales before Oprah?
We had already hit about
$300,000 in revenue.
Okay.
And a lot of that kind
of comes from the things
that were happening
in our society last year.
Black‐owned brands were
getting a lot of attention.
People were finding
them and loving them
and loving our products.
So it really wasn't a
matter of there not being
worthy Black‐owned brands.
People just couldn't find us.
We didn't have the
resources to be on the aisles,
to be on the shelves. And, Christina,
are you seeing that being sustained at all?
Absolutely.
I have fo‐‐ People that found us
last year are repeat customers.
We have people that are
stocking up on our stuff.
And so, we're on set to
make a million this year.
Wow. We're actually gonna
be launching in Sephora.
Whoa! Oh, whoa.
We're gonna be launching online
in Sephora U. S. and Canada.
Wow. And this holiday season,
we're actually gonna be
expanding to Nordstrom's.
So are you selling direct
to consumer, as well?
We're selling DTC on our site.
Last year, we were at 75% DTC,
and that's counting the
"Oprah's Favorite Things." Yep.
This year, it's gonna flip.
We're gonna be at about 25% DTC
and about 75% retail.
You have enough margin
to support the retail channel?
So, the butter set that
you have in front of you,
that cost me $12 to
make, and I sell it for $80.
Wow! You sell it for $80?
Good margins.
You know, I cannot fault
you for anything today.
You did a beautiful pitch.
There's only one problem for me.
I got to be passionate
about everything I invest in,
and I'm just not feeling that.
I'm out.
Christina, Christina.
Thank you. I respect that.
You're a rock star.
I mean, everything that
you've presented to us
has been right on from
a business perspective.
Problem is, I don't understand
what these things do.
In order for me to come
up with ways to help you,
I have to have a
fundamental understanding,
and I just don't.
So, for those reasons, I'm out.
Thank you, Mark.
So, your
presentation was flawless.
The great value of Mr. Wonderful
is my millions of followers.
And I sell a lot of
stuff on QVC, too.
But I just don't see
myself sitting there saying,
"I'm the right brand
representative."
But that's why you have me.
I'm the right brand
representative. No, I get it. I get it.
It's ‐‐ It's sort of ‐‐
As a pure investment,
I find it quite interesting,
'cause I think
this is gonna work.
I really do, 'cause I think
you're very good at selling it.
But I'm not adding any
value other than money.
In everything I do, I add
the Mr. Wonderful magic.
Mr. Wonderful, you are
an advertising genius.
That is what I
need. That's so true.
I took $8,000...
and turned that into a
half a million dollars last year.
Well, listen, you're very,
very, very impressive.
I recently did a deal
with a couple of young women
who had created not
only a cosmetic line,
but a skincare line
that goes with it.
Unfortunately, you
are so competitive
with what we're already
doing, I have to be out.
Thank you, Lori.
You know, I want to tell you,
you are so backable
as an entrepreneur.
You are so impressive.
Your story is so compelling.
You know what?
My wife has worked
for over eight years
at Neutrogena,
so I can almost hear
her whispering in my ear
that skincare is not a fad.
It's something
that's here to stay.
I'm willing to give
you half the money
if one of my fellow Sharks
will come in with me.
Three Sharks are out.
Nirav is interested
in Christina's
shea butter‐based
skincare line, 54 Thrones.
But he wants another
Shark to partner with him.
Okay, I'll do $250,000 for 20%.
If you want to come
in for half, you're there.
And we'll back you...
I'm definitely there.
And we'll blow this thing up.
I am completely in on the offer
because I think what
you're building here
is not just a company,
I think it is a movement,
and I'd like to be part of it.
Can we do $250,000 for 15%?
Think about this. It
makes me be a 7 1/2% guy.
That's just not a lot.
7 1/2% of $100
million‐company... No, I get that.
Is still a good
size. Listen, I get it.
But think about the story here.
You've got an entrepreneur here
with a proven track record
of growing a behemoth
and, in his family,
some incredible
expertise in your sector.
You have me, which has
a massive following socially
and a lot of television
exposure, okay?
Listen, listen, I
believe in you so much
that I'm willing to put in
half of the amount
just like Kevin,
and you can give him
more equity to satisfy ‐‐
I'm not gonna say the
greedy Mr. Wonderful,
but I want to support
you. I just need 10%.
So, what's the offer?
What would be the offer?
So you want $250,000 for 15%?
I want $250,000 for 10%.
- You raised it again!
- You go, girl.
I'm not doing that deal.
I'm not gonna do that deal.
So, look, we ‐‐ we gotta
stick to our guns on this one.
So I'll let Kevin do the
whole thing if he wants.
If you would like
both of us to be in ‐‐
I want both of ‐‐ I want both Sharks.
Of course you should have two Sharks,
but think about it
‐‐ you have to let us
wet our beaks in the butter.
Will you do $250,000 for 17%?
It's so close to 20%.
Will you please do ‐‐
But he said he'd give you
more equity, so if he takes ‐‐
Guys, our platform
is trade, not aid.
I'll take 7%, he can take 10%.
We'll do it 50/50.
7 1/2%. 7 1/2%.
Yeah. Fine, 7 1/2%.
17 1/2%, $250,000.
Yes!
‐Yes!
‐Thank you!
Congratulations.
Two Sharks!
Great job.
Thank you.
Great job.
Congrats.
Thank you.
Fantastic presentation.
Thank you.
Yes!
I got two Sharks.
So, it's just doubly everything.
I cannot wait
to call my partners
in Ghana and Morocco
and tell them what happened,
because I told them
I was going to "Shark Tank,"
and I don't know
if they knew what it was,
but they prayed for me,
and it worked out.