Shark Tank (2009–…): Season 13, Episode 9 - Episode #13.9 - full transcript
Tonight on "Shark Tank"...
We are here to put an end
to this monkey business.
This is genius.
You just came out here
and bared your soul.
I love you, dude.
I need Sharks.
You need money.
I was sitting for 20 minutes
asking for an answer.
Are you starting a cult or
something? No, not in any way.
How the hell do I make
money with any of this crap?
Royalties? Noooo!
First in the Tank
is a versatile workout system
with on‐the‐go simplicity.
Hello, Sharks.
My name's Nezar,
and I'm from just
outside Detroit,
the Motor City.
It's no secret that
health and fitness
is extremely important to
many people around the world,
yet inactivity and
obesity continue to rise,
primarily due to limits on
time, space, will, motivation.
At MAXPRO, we can help
you overcome those challenges
by making fitness
more fun and accessible
with our award‐winning,
first of its kind,
extremely versatile
portable cable machine.
Literally fits in a bag.
This is the MAXPRO SmartConnect.
This amazing little
10‐pound machine
gives you 5 pounds to
300 pounds of resistance
with a simple turn
of our patent‐pending
power clutch dial ‐‐
ready, easy to use
right out of the box.
No heavy, bulky equipment. No
gimmicky gadgets. - Wow.
No flimsy bands. Used
practically anywhere.
We have developed a
whole ecosystem of products
that use the MAXPRO
for resistance. Wow.
Basically, with MAXPRO,
workouts are only limited
by your imagination.
But wait, this is "Shark Tank,"
and we have much more.
I mentioned that
MAXPRO is connected.
Our onboard sensors relay
detailed workout analytics
to our MAXPRO coaching app.
At MAXPRO, we're not just
a single‐product company.
Together with our customers,
we're building a
global lifestyle brand,
and for $500,000... Whoo!
I'm offering 2.5%...
‐Oh, Lord. ‐Oh, Lord!
Of my company.
Hey, Nezar, did I
hear you correctly
when you were explaining it
that you can adjust
the weight from ‐‐
did you say 3 pounds to 300?
Robert, why don't you
come and flex those muscles
and check this out?
I got to try it. Please.
But did I hear that correctly?
Yes, absolutely.
Now, these are 10 feet cables.
They're made of Dyneema,
which is a high‐molecular
polyethylene.
What weight do I
have, Nezar, now?
That's just 5.
Uh, 7.7, 7.
Good job,
Robert. That's 7.
Let me help you
out here. Alright.
I just want to show you how ‐‐
I just wanted to
feel ‐‐ Yeah, yeah.
Like, I just wanted ‐‐
This.
That's 10? That's 10?
What is that, 50?
That's 12. That's level 12,
which is about 45
pounds right there.
Oh, wow. Oh, my God.
I got to tell you,
that's incredible
that you do it all
from that. Yes.
What I'd like to understand
is when you talk about a
company that's worth $20 million ‐‐
$500,000 for 2.5%,
$20 million valuation ‐‐
I know and respect
that you're gonna have
sales and lots of users.
When did you start it,
how much did you
sell when you started,
and how have you been going
on the year‐over‐year basis?
Sure.
Overall product development
has been over 5 years,
but we first started
shipping product
in July of last year.
Oh, really? Okay. Just July.
What did you do
last year in sales?
$4 million in sales.
‐Whoo! ‐Whoa. What?!
Wow.
What have you
done so far this year?
Over $8 million. Wow.
Wow. Okay!
But I don't
like resistance bands
because I don't want to
have to go over the door
and connect it to the door
and then close the door,
and it's just, like,
a hassle. Yes.
But what if I want to
do other exercises?
Thank you very
much for helping out.
MAXPRO is literally
the most versatile thing
you've ever seen.
You can use it on a door.
You can use it like
he's doing right there.
It's in your kit right there.
But you have to mount those on
your door. Okay, so you put up the clips.
Yeah, and it's a strap.
It's a single strap
that goes around,
and they're
specially engineered.
We have a wall track
which does all the flies
that you're talking about. Oh.
You see her
working out on a tree,
working out on a fence.
How did you come up with this,
and what is your background?
My primary background
is automotive.
25 years in automotive.
So for me, global product
management... Are you an engineer?
Supply chain ‐‐
Are you an engineer?
Yes, I am an engineer. Yes.
Mechanical? Yes.
I was traveling at
lot. I was overseas.
I kept missing workouts,
and it was just
trying to figure out
how to get that
resistance on the road.
What does it cost to make
it? What does it cost to sell it?
And then I believe
you have an app.
So, retail value is $849.
Whoa, $849?
$849, and I got
to preface ‐‐ Wow.
Yes. Are these ours to keep?
Yes. Thank you.
So $849. And what does
it cost you to make it?
$205 landed cost,
$20 total between pick
and pack and shipping.
And you sell direct
to consumer only?
Yeah. 97% of our sales is D2C.
Well, that's pretty
well everything.
Nezar, how are you
selling $8 million of this?
COVID. Everybody sold.
Yes, that's exactly right.
And we do a ton of
money on marketing.
So what are you
burning per month?
Our essential burn's
about $100,000 per month.
Oh!
Could you become profitable
if you slowed down
your marketing?
We make money on
every one of these.
No, are you cash flow
positive this year? $1.6 million?
The cash flow positive
is a yes and a no,
because we take all
the money ‐‐ No, it isn't.
It's one or the other. No,
no. I mean, yes, we are.
But then we take that money
‐‐ Cuban: No, look, we get it.
Yeah. Yeah. Look, I
understand the business, right?
This is a grind‐it‐out,
competitive business.
We have over 3,000 daily
users right now on our app.
Last year, you did $4 million
from July to December. Yes.
How much did you
make on that $4 million?
Just over $50,000.
What was your
net? And this year,
you're going to sell
$8 million. Right.
Are you going to make
money or lose money?
No, this year, we're
probably going to reach
over $12 million in sales.
And what will you make on
that? Or will you lose money?
We'll probably be
close to breaking even ‐‐
But right now,
you're burning money,
is what you're saying. Yeah.
Look, there's nothing
wrong with it, right?
No, no, I'm okay with that.
I know we get all
caught up in profits,
but if you're going to
scale a business, right,
you've got to invest to grow.
You know, Mark, you're right.
You need to fund
the growth. Okay?
We took a revenue‐based
line of credit.
And ‐‐ Ooh.
So someone lent you money,
and for every dollar
that you bring in,
you have to pay what out?
It was 20%
and then goes to 25% now, 28%.
Wow. Basically,
we have over $5
million in inventory.
In inventory. Okay. Right now.
$5 million? And I'm curious,
why do you have that much?
Were you required to
do certain quantities?
It was a bit of a judgment call.
We also signed on
with a very big endorsement
personality ‐‐ Shaq.
I met Shaq at CES
in January 2020.
He came by our booth.
He checked it out.
He goes, "Oh, you know what?
I'm going to do this for you.
I'm going to blow you up."
What was your deal with
Shaq? You gave him equity?
He earns it over 4 years.
But what does he earn? How much?
1.25% this year, okay,
and it can go up to 5%.
You're in a really tough
spot right now, then.
Yeah, we're in a tough spot,
but we're also going
into the holiday season.
Right, I get that, but you
don't have the money to spend
on advertising.
You need to blow this out.
I need Sharks. You need money.
Yeah, yeah, it's hard,
but it's also expertise.
I think I have an offer for you.
All Sharks are still in,
and Daymond seems interested
in Nezar's portable fitness
equipment, MAXPRO.
I think I have an offer for you.
I will give you the 500K,
but I would put a royalty on it.
Did I hear royalty?
You did hear royalty.
You don't say. I do say.
Well, I'm listening.
$25 a unit 'til I
get back my 500K,
and then I would
convert to 4% ownership.
That's not
horrible. It's not bad.
That's a good offer.
Can I ask you a question?
Yes, sure. What
do you need from a Shark?
I think the Sharks
know how to open doors.
They can help us to get
more investments. Okay?
And we're going into retail,
also hotels and military.
We have so many military
members that take this on deployment.
Nezar, you ever offer
anybody a half a million dollars
and they didn't
even acknowledge it
or give you any kind of answer
or any kind of feedback?
I was thinking about
you the whole time,
and questions are coming,
and I so apologize about that.
So what do you think?
I think it's a pretty good deal.
So? I think it's a
pretty good deal.
Not the royalties piece
and paying you back.
What is your return
rate? I'm just curious.
Oh, great question.
And I'm happy to say
that it's less than 5%.
I had an even better question.
Yeah, I mean, but
this is important
because a less than
5% in consumer goods ‐‐
‐Yeah, it's very low.
‐That's really good, yeah.
But you're
overselling at this point, right?
No, he's not, 'cause some
of us still have questions.
Okay, but what
happens, though ‐‐
Because it's complicated.
I would definitely like
to answer the questions.
You see how long your pitch is?
I was sitting for 20 minutes
asking for an answer!
Do you need the app, and
do you need all the rest?
I mean, today,
everything has an app
that even just has
your coached classes,
but we've been working from
the ground up on a new app.
You're losing a ton of
money right now. Yeah.
How much money
could it come down
if you didn't have the app?
This isn't just a connection
and count your reps.
This is literally displaying
how you're working out.
I'm going to push
back on that a little bit
because I don't like where
you're going on the app spend.
I look at this and
say to myself,
"Why spend any money on an app
when everybody's
already got one?"
So that's kind of the
tipping point for me.
But they can't use the MAXPRO.
It doesn't matter.
It doesn't matter.
We have a philosophical
disagreement on the direction.
That's my opinion,
okay? I'm out.
"Oh, my God, Daymond,
did you become more valuable?"
Let me see if I can get to an offer.
Why, yes, I did. I did
become more valuable.
Let me see if I
can get to an offer.
You're awesome, Daymond.
Let me see if I
can get to an offer,
and you can tell
me if it works or not.
So here's what I'll offer.
I'll give you the 500K for 3%,
plus I want the exact same
deal that you gave Shaq
in advisory shares.
So then that way, Shaq and
I can work together, do stuff.
He's a great friend.
So that's what it is. Oh.
500K, 3%, plus the
5% in advisory shares,
vested the same way as Shaq.
That offer is far more generous
than I was going to make you.
I'm out.
Thank you, Robert. Thank you.
"Oh, my God, did you become even
more valuable?" So you got two offers.
Thank you. Are we good?
Did he even talk to you again?
Did I answer all the questions?
No more questions.
You got to decide.
Ah, Nezar.
I think what Mark offered
you is a really good offer.
I was going to be a
bit steeper than that.
So... Thank you.
I'm going to go out.
I'm so happy to be
here with all of you guys.
You have two offers.
What are you going to do?
And I never wait, so this is ‐‐
"Daymond, will
somebody talk to you?"
Daymond, I definitely
appreciate the offer,
but I just have one
question for Mark.
Well, you got to make sure
that question is a good question
because I'm out.
Whoa.
Yes, sir. Thank you.
So the line of
credit that we have ‐‐
is there a way that
we can replace that,
or you can help with
inventory? Yeah, potentially.
I'm not going to
commit to it now,
but it's certainly on the table,
and it's something I
do all the time. Okay.
The only offer you have is Mark.
Right, so we're having a
conversation. No, no, I'm not arguing.
I'm just saying yeah,
absolutely, Mark, dude,
I'm, like, all‐in,
baby. Of course.
Yeah, yeah. Thank you so much.
All right. Thank
you. Appreciate it.
- Yeah, awesome.
- Congrats, Nezar.
Thank you so much.
Daymond, love you, man.
We're not talking.
No, no, no, I ‐‐
Whoo.
Mark is a ‐‐ like, a
perfect fit for our company.
This is a big
game‐changer for us.
We're going to go
from a little company
with no name recognition
to basically a global brand.
That is exactly
where we want to be.
In season 12, Duane Cheers,
Danita Claytor, and
Jumoke Jackson
made a deal with Mark Cuban
for their gourmet
plant‐based food company,
Everything Legendary.
I think people are going to
love these. We got a deal.
That's what I'm
talking about! We did it!
Let's see
what they're up to now.
When we pitched
our business to the great whites,
all we had was
$165,000 worth of sales.
Right after "Shark Tank,"
we did $250,000
in just 24 hours.
Four months since then,
we did $1.7 million in sales.
I cry about it
every single night.
I do too. It's unreal.
Before "Shark Tank," we
were in a shared kitchen,
and when I mean
a shared kitchen,
it was me and my mama's kitchen,
and we were doing over
1,000 burgers a day by hand.
Now we've brought
on three co‐packers,
two national
distribution centers,
and we can produce over
160,000 burgers in just an hour.
Let me just say how much
respect I have for the hustle.
Everything
Legendary is a textbook case
on what every entrepreneur
for consumer products should do.
They go out to their customers.
They don't take
"no" for an answer.
They do pop‐up stores.
Their energy and
their relentlessness ‐‐
I mean, they're
just at the beginning
of what they can be.
In just a few months, we
have expanded our business
to over 1,000 grocery
store locations ‐‐
Giant, Safeway, Target,
Walmart, and many more.
An entrepreneur's
journey is a tough road.
It's emotional.
If you haven't cried
about your dreams,
then your dreams
aren't big enough.
You're going to receive
a million and one nos,
but you have to keep on going,
because all you
need is that one yes,
and that one yes will
change your entire life.
Hey, we flying off the shelf.
I literally went from being
broke, living in my car,
to now with a company that did
over $1.7 million in
sales in just 4 months.
That's a dream come true.
"Shark Tank" validated
every thought that we ever had
and told us that if we stay
focused, if we work hard,
we will be successful,
and most importantly,
we will be legendary.
Next up is a tool
that takes snacking
to the next level.
Oh, my goodness.
Hi, Sharks. I'm Renee Heath.
And I'm Bechara
Jaoudeh, and we are...
Banana Loca!
Whoo!
We're seeking $250,000
in exchange for 25%
of our very
"ap‐peel‐ing" business.
Sharks, my favorite
snack of all time
is banana and chocolate
hazelnut spread.
Yes.
The flavor combination
is just delicious.
But what a mess.
Have you ever tried to
take slippery banana slices
and tried to spread
peanut butter on them?
Awful. It just doesn't work.
So we are here to put an
end to this monkey business.
Introducing Banana Loca,
the very first kitchen gadget
that allows you to
core and stuff a banana
while still in its peel.
First, you core
while still in its peel
and then fill it with
whatever you want.
It's so easy to use
that the whole family
can really use and enjoy.
‐Wow. ‐Wow.
That is a great
idea. - Interesting.
That actually is not bad at all.
Sharks, creating joy by putting
something yummy in tummies
and smiles on faces
is why we do this.
So, Sharks, which one of you
wants to join our
bonkers banana bunch?
Whoo!
Sharks, in front of you
is your very own
Banana Loca to try.
How does it work?
Renee's going to walk
you through it step by step.
Please.
So first, you're going
to take the banana
and put the cut end
into the straightener.
Ah, okay.
Go ahead and straighten
against that holder with one hand.
You're going to take your
corer, and when you insert it,
wait 'til it's fully inside,
and then give it a little
twist to break off that core.
Oh,
twist? A little twist.
Let me just tell you,
that is oddly satisfying.
Good. We're glad
you're enjoying it.
I'm not being funny.
I keep pulling it out,
but it's not ‐‐ it's
‐‐ nothing's in it.
So when you go all the way in,
you want to
twist... I did twist.
And then cover the hole.
That creates suction. So what
you have to do in the next step...
is after you twist to break off
that core... Oh! Cover this hole?
You're going to take your
thumb to cover that hole.
Oh!
That's the
secret. - Yeah!
That's the secret. Got it.
You should have a
perfectly cored banana. Got it.
You just have to take
your cored banana
and go ahead and insert it into
the nozzle. - Oh, that's gross.
So you go ahead
and insert the banana.
I've become a
pro at this already.
Just like a new utensil,
there's a learning curve.
This is good.
Well, it tastes great.
Y Chihuahua,
caramba! That's good.
That is good. I
love this. You do?
This is my favorite
snack. - Yeah.
This is genius.
Thank you, Robert.
So, what else
can you do with it?
You can fill doughnuts, churros.
Donuts?
Zucchinis. Zucchinis.
Hot dogs. Zucchinis.
Actually, another vegetable
was cucumbers filled
with cottage cheese.
Ohh. But also a big segment
was cake and cupcake decorating.
All your sales are,
obviously, all online right?
Correct. All D2C.
Great. And what are the sales?
We have done $134,000
in sales in 5 months. Wow.
‐Wow. ‐Wow.
With limited marketing.
Really, we've just
rode the organic wave
from different influencers.
And you didn't tell us
what the cost was landed.
You're making this
in China, I assume?
Correct. Our landed cost is $6.
$6? Okay. Greiner: And
what do you sell it for?
$26.99.
And how much
do you have invested in it,
'cause I know you had to
create a mold and everything else.
8 molds. Yeah.
So we have about $224,000
of our own money in it.
‐Oh. ‐Wow.
That was a big
learning thing for us.
I'm shocked, actually, at
the price, I have to be honest.
‐Yeah. ‐Yeah, that's crazy.
Yeah, you got a banana
in the tailpipe on that one.
So I give you $250,000.
‐Sure. ‐Mm‐hmm.
What happens next? Sure.
The money will go towards
inventory and paid marketing
so we can really supercharge
and put gasoline into our ‐‐
You guys should never have to do
any paid marketing
at all on this thing.
You're not going to take
this to retail, are you?
Correct. It's a very
visual demonstration.
Sure. It needs to be
demonstrated online,
it needs to go viral,
and people have to
buy it from your site.
I like it, but the only
way this works for me,
and I'll be the
first to tell you,
is this is a royalty deal.
That's what it is.
I'll give you the $250,000,
and your margins are good enough
to pay me back 3 bucks a unit.
That's how I get my money
back. No equity. You own it.
My interests are aligned
in using my social media
to blow it up and say,
"Look, this is a Chef
Wonderful exclusive."
I'll sell a ton of
these for you.
3 bucks a unit?
Yeah, 3 bucks a unit.
You are being
greedy. I don't think so.
Kevin, when does
the royalty stop?
Never. It doesn't.
Never. Never?
Well, how do I make
money, Robert?
How do I make money?
How do they make money
if they're always
paying a royalty?
They get the rest.
I mean, look, it's an
offer. You can decide.
Yeah. Thank you for the offer.
I buy this type
of stuff every day
and my wife takes it,
as soon as I open it up,
she goes out to the backyard,
and she puts it in the garbage.
And I do like it a lot, but
this is one of those things
you'll do with the
kids once or twice,
and then it's going to sit up
there with all the Tupperware.
It's not going to
work for me. I'm out.
Thank you, Daymond.
You're so early, and
it's just not a business
that I think is investable
for me right now.
So I'm sorry, I'm out.
- Thank you, Laurie.
- Thank you.
I love gadgets. I buy
these things all the time.
Look, complete
flyer. I love you guys.
Thank you. Thank you. Thank you.
I really think you're
really entrepreneurial.
I actually don't know if
it's going to go anywhere,
so it has to be a
royalty deal for me.
I'll give you the $250,000
you're looking for,
$3 royalty until I
recoup $350,000.
I also want 10% equity
in case somebody
buys the product,
or some other blow‐up.
Thank you very much for
your offer and believing in us.
Yeah. Really appreciate it.
What have you
done in social media?
We have limited funds right now,
and that's where we're hoping ‐‐
I'm not talking about
advertising. Right? Yeah.
So you should never have to spend ‐‐
Oh, we're on Instagram, we're on TikTok,
we're on Twitter.
But you have not
been able to get
any traction
yourselves effectively.
We do. Nothing monumental.
We need to get
a larger audience.
We started from
zero under this brand.
Yeah, 'cause I've done
two food videos with my son.
The last one had
20 million views,
and the one before
that had 11, and so I'm ‐‐
All right, Mark, I'll give
you $250,000 for 25%.
But that's Mark
Cuban's son, right?
No, I get it. I get it,
right? I'm not there.
I'm not trying to
compare the two, right?
We're here not
just for the money.
We need the star
power behind it.
Giving us a little
bit of an edge
and a little bit of
an endorsement
is more important to us
than the money because ‐‐
I don't know if you
need star power.
‐ I think you need ‐‐
‐ Yeah, definitely do.
You need functionality, guys. You definitely
do, because that's what makes it go viral.
You need it to do a whole bunch of
things... Kevin, let's do this together,
but do it as a regular deal, not a royalty.
And someone will go, "You know what?
It's worth spending money
on." Got to be a royalty.
No. I'm not doing
it without a royalty.
You never get your capital back.
You'd be buying more and
more and more inventory forever.
Bechara, you really
think you need star power
to drive this thing?
It's not a silver bullet, right?
It's going to be healthy
execution on our side,
driving costs down,
getting some funds for inventory
and some marketing
and promotions.
Why take
any equity? Just do it ‐‐
Because I want it.
I think we can turn this
into an evergreen product.
How much equity do you want?
We have the
execution machine in place.
We just need to
pour more gasoline.
Okay, guys, I'll help you
pour some gasoline. Yeah.
Kevin and I want
to work together,
so we'll give you the
$250,000 for 25%,
and we want a $3 royalty
but just until we're paid back.
And so if we hit virally on
any of this, it's easy money.
Very quick. So that's the
deal. What do you think?
Would you be open
to doing $2 royalty? No.
You got a deal. Nice.
Oh, congrats, guys.
‐This is awesome. ‐Let's
have some fun with it.
‐Thank you. ‐Thank you so much.
I've never hugged
a banana before.
Guys, thank you so
much for your offers. Thank you.
We freaking did it!
He didn't want to choke
on his banana with that one.
He said, "Would
you mind doing $2?"
"No." "No problem."
Mr. Wonderful and Mark.
We get two Sharks.
Two Sharks. Wow.
We got our top two Sharks.
They're going to
bring both their forces,
big magnifying
glass on our brand.
I mean, to the moon, baby.
Next in the Tank
is a business with
wellness in mind.
Hi, Sharks.
My name is Liv Bowser,
and I'm from Los
Angeles, California.
I'm seeking $200,000
in exchange for 10% of
my company, Liberate.
Sharks, are you ready for
the best workout of your life?
Well, today, I'm going to
have you working out muscles
you forgot existed.
Just one second. Let
me get my equipment out.
Perfect.
Oh, did you think
we were working on
our physical fitness today?
No, Sharks. Today, we're
working out our mental muscles.
Ah.
Liberate is the first
mental fitness studio.
Our method blends
mindful movement
with journaling,
conversation, and meditation
for a dynamic
workout for your mind.
Our classes and courses
empower individuals and teams
to build skills like courage,
gratitude, and resilience
to strengthen
collective wellbeing.
Sharks, it doesn't take
heavy lifting to know
that we're onto something here.
So who wants to put your
money where your mind is
and join our mental
fitness movement?
So, Liv, are you starting
a cult or something?
No! Not in any way. How
the hell do I make money
with any of this crap?
Do I go somewhere, Liv?
Like a spin studio? I mean,
you have a physical studio?
We launched online
classes hosted over Zoom
in May 2020.
So, Liv, were these
instructor‐led classes?
Yeah, so, it's myself
as a class leader,
and we have four other
incredible class leaders
with all the different wellness backgrounds.
Right, but how many people would log in?
20, on average, per class.
Okay, and what do you charge?
So a subscription for
our on‐demand library
is $19 a month,
and the subscription
model for all access,
which includes our
courses, our live classes,
and the on‐demand
is $49 a month.
And how many
subscribers do you have?
So, I want to open
up the picture a little bit
because the main
source of our revenue
is our B2B model.
In 2021, we realized
businesses and teams
need a lot of help, too.
Teams are really disconnected.
They're remote,
they're struggling to
connect on a human level.
So 65% of our business now
is through our
corporate partnerships.
Let me ask, what's
your total sales?
Total sales is $50,000 lifetime.
‐Ooh. ‐Ooh.
That's not a lot, Liv.
I don't think anybody here
is going to challenge
your premise.
I'm on board 100%.
What I'm struggling with ‐‐
how is this business
worth $2 million today?
Yeah, our margins are over 90%.
We have 178%
quarter‐over‐quarter
growth rate.
We're 10X'ing the
business in the first year,
and we've built a
highly scalable system,
team, and curriculum.
But you only have
$50,000 in sales.
Lifetime. So far.
We're just getting started.
How about this year?
I love the optimism, but,
boy, is that ever small.
How much did you do last month?
We did $7,500 last month,
and we're projecting
doing $8,500 this month,
and we have a $6,900 deal
with a corporate partner
that's closing this month.
You're not getting scale, Liv.
Yeah, that's the challenge.
Like, seriously. Like, I love ‐‐
I love everything
about what you're doing,
but there are big
companies doing similar stuff,
and they're charging
us $50,000 $100,000.
Yeah, we don't charge that much.
So why aren't you getting that scale?
Is it because you don't
understand the B2B market
or the consumer market
isn't working for you?
Why isn't there more?
Our corporate program,
it's only 6 months old,
and we also would like
to use the capital from
a Shark investment
to hire a sales manager
to help really invest in
scaling the B2B business.
Yeah, that's still hard.
I think his point,
though, is pricing
more than anything else.
I can raise the prices.
Yeah, and you might have to.
I mean, look, I believe
in mental clarity.
The Dallas Mavericks have had
a full‐time, you know,
team psychologist,
because if you can't
perform mentally,
you can't perform physically.
The challenge is, how do
you scale, to Robert's point?
And I learned this
a long time ago ‐‐
sell at a premium.
Don't sell out of
desperation, right?
Because selling $5,000 deals
is no easier than selling
$50,000 or $100,000 deals.
Yeah. You've got
to get to that point
where you have enough
confidence because you're right on ‐‐
you're on trend, you're
on need, you're on value,
but you're
under‐pricing yourself,
and because of that,
it's really impossible
for an investor to come in
because it's really impossible
to scale with where you're at.
So for those reasons, I'm out.
Well, I'd like to
talk to another point
of how we can scale.
Let me just ‐‐ Let
me just pick up on that
because I think ‐‐
Not if you're following
a similar trend, though.
Well, you're very
early in your journey.
You're ‐‐
It's a good time to join.
It is a good time to join.
It's not a good time to join
at a $2 million valuation.
I love what you're
doing, but I ‐‐
We are going to be the
SoulCycle of mindfulness.
We're licensing
out our curriculum.
We have 100 variations of
proprietary curriculum... Maybe.
That can be licensed
out to every fitness studio,
every fitness instructor.
Maybe, but you haven't
done any of those things today
to show me a tangible return.
It's an early stage
business, but the idea ‐‐
It's not a $2 million business.
It's not ‐‐ So what?
So I'm open‐minded.
I'm so flexible.
It is unbelievably important
to me to partner with a Shark.
That is my goal. I am so
hardworking and driven.
I‐I can't leave this
carpet without a deal.
My purpose on Earth
is to build Liberate.
I would love to have your
support on that journey.
I just think you need to go
through a journey to learn more
before I can come with you.
I'm out.
Okay. Thank you.
Well, my thought is that
I love what you're doing.
Thank you. We all know
that the mind is the
largest muscle on the body,
and as soon as that thing
expands, it never shrinks.
Never goes back.
But you haven't
figured it out yet.
Little too early.
I love what you're
doing, but I'm out.
Thank you.
Kevin, Lori? Greiner: Liv.
Lori? Liv.
Listen. Lori.
Listen.
Lori!
Lori! Liv, listen.
Come on. Women supporting women.
Mindfulness. You
meditate every day. Liv. Liv.
You have a wellness portfolio
that's ripe and
perfect for Liberate.
You're right, and, you know,
you've done your homework.
You're wonderful.
You have energy,
and you have grit.
I'm open to literally
any deal on the planet.
I really want to work with you. I
know. I know you are. I know you are.
Right now, you are at a stage
where you're figuring
out what you're doing.
This is where you
invest in the entrepreneur
and then the idea
grows like a tree.
You don't have it realized
fully enough yet for me,
and for that reason, I'm out.
Thank you, Lori.
Royalties?
Oh, wow.
Liv. Wow.
Come on. Good for
you, Liv. Good for you.
This idea is without
merit. It's going to zero.
You'll never make
any money. - No.
Oh, God. You will
never get an investor.
Take it behind the
barn and shoot it
and do something
else. - No.
You are a disgusting
human. I'm out.
Thank you, Kevin.
Good luck, Liv.
Congratulations. Good luck, Liv.
You have to go now. Do I leave?
Yeah, that way. Okay.
Thank you!
I went in believing in what I
was doing and my valuation,
and I think I could
have valued it lower
to get a Shark on board,
but honestly,
I think it's going to be a
billion‐dollar company,
so I'm happy I stuck to my
guns, and no sense in regrets.
Next in the Tank
is a product inspired by
a creature from the sea.
Ooh.
Hello, Sharks, my
name is Hans Dose,
I'm from Dana Point, California,
and I'm here seeking $200,000
in exchange for 10%
of my company, Tenikle.
As you can see,
I love the ocean.
I especially love the octopus.
With all these tentacles,
they could do so
many things at once.
We humans have a big problem ‐‐
holding phones while
trying to do something else
with only two hands.
You'll never see an octopus
with not enough
hands to snap a selfie.
Currently, these
options for humans...
Oh, my.
Noooo!
Hans!
Only serve a single function.
What if we had
one portable product
that did everything these do?
Now we do.
Introducing Tenikle,
the octopus‐inspired
suction mount for your tech
designed to empower
go‐getters to do their thing better,
totally hands‐free.
Tenikle does a million things.
It works with phones,
cameras, tablets.
It's your car mount,
your bike mount,
your speaker mount,
and, hold your
seahorses, even...
a pickle holder.
What? What?
And just like the octopus,
Tenikle is waterproof
and super durable.
It can even support the
weight of a surfboard.
Wow.
Humans only have two hands.
Let's fix that.
So, Sharks, what do you say
you jump in with a fellow
sea creature like me
and make a huge splash in
the boring mount industry?
I like it. I really, really
like it. Thank you.
How much do you sell it for,
and how much does
it cost you to make?
Wow.
Costs me $6. $45? Wow.
Yeah, we're selling it at $45.
We've tried
different price points,
but it costs me
$6.08 currently...
‐Whoa! ‐...with that version.
‐Nice! ‐Margin city!
Wow. OK, but wait,
how many have you sold?
Over 40,000 units to date.
Dough! 40,000 units?!
$1.3 million in
sales to date. Whoo!
Coming out the gate
hot. And this is all this guy.
When did you start?
How many years ago?
So, I actually wrote the
patent myself in 2015.
Wow. I was working
at Hurley as a designer.
It was really my dream job,
working in the surf industry,
and I just had this idea,
what if I combined a car mount
and a tripod into one?
And when I gave the
product to friends and family,
this crappy
prototype that I made,
every person had this discovery
moment where they were like,
"Oh, my God, I
can use it for this,"
or "Hey, I can use it for this."
And there's so many use
cases for it that I was like,
"Oh, I have to do
this, obviously."
So at the end of 2017, I
launched a Kickstarter.
We raised about $172,000.
It blew my mind. Wow.
And then I thought, "Oh,
my God, I have to quit my job.
I have to do this."
So when I do
something, I go 110%.
I quit my dream job.
The product that you
see here, generation 4.
What was wrong
with version three?
On Amazon, I saw that
there were some reviews
that were not ‐‐ We
had a 3.7‐star review,
and I was like,
"Okay, that's still not
‐‐" I needed that 5.
Why didn't people like it?
Honestly, the suction cups.
That was the biggest thing. Ah.
Suction cup geometry
is a whole science.
What did it cost to go
through all these iterations?
Well, to be honest,
my debt is at
$270,000 currently.
Okay. $270,000?!
Yes. I know.
Y Chihuahua, caramba! Whoa.
What is your last year of sales?
So, last year, we did
about $478,000 in sales.
And what did you do last month?
What was your profit on that?
Last month, we did
about $9,000 in sales.
Oh. Not good.
What happened?
I want to tell you
what happened.
So we were doing
so well in 2020.
Despite COVID, so many
people were using this product
for FaceTiming or Zoom calls,
and the year prior, I
had run out of product.
So this year, I freaked out,
and I ordered a
shipping container full,
so at cost, it was about 130K.
And why didn't it sell?
Thanksgiving Day comes,
and I ran out of
marketing dollars
to continue going.
My only sales were
coming from one channel ‐‐
that is our website and
paying Facebook ads.
So how much inventory
do you have right now?
About $891,000.
Wow. At cost? Whoa!
At cost, about $111,000 at cost.
But you don't have to really
pay for ads, necessarily.
You could do your own videos.
Put them up on social media
platforms. I'm learning that.
Is this your full‐time gig?
This is my full‐time gig.
My wife and I, we work
together on this business,
and to get out of
our debt situation,
we moved into an RV.
I'm not kidding.
An RV on my mom's
property in Menifee, California.
All right, Hans. So
it's clear you're all in.
You're all in. Yes.
If you don't get more
capital to buy ads...
Yup... you're going to zero.
No.
That's what I think.
No, 'cause you've got
$110,000 in inventory.
Your worst case, you're going
to flea markets on weekends
and demonstrating and
selling them there. Worst case.
How much cash do you have, Hans?
I have $39 in the bank.
Oh!
‐What? ‐You have what? $39?
How did you get here?
I have just enough to get home.
How are you going to
get back? Not with that.
You're going to have to sell
your flippers. I've got gas money.
These would be
worth a lot, actually.
Yeah, you're right.
Well, Hans, let me
look at it this way.
One saving aspect to this
is the product's pretty good.
It's really good.
Fundamentally, I can't
criticize the product
and I can't criticize you.
You're a good guy.
Thank you. I get it.
You need to get capital.
I love you, dude.
It's not about ‐‐
No, listen.
That's a first also.
In the end, I don't
need another job.
It's not a situation I
want to put myself into.
I wish you the best. I'm out.
Thank you. Thank you, sir.
So, I think it's a good product.
I think you're in a
very crowded space.
It's just not the
right investment
for me at this time. Okay.
I wish you good luck,
but I'm out. Thank you.
Thank you, Lori.
I can make it
happen. I know I can.
Yeah, I incurred some
debt along the way,
but it's serviceable.
My monthly payments are
about three grand a month.
Three grand isn't a lot,
but it is when you
have $39 in cash.
You know, so often
on "Shark Tank,"
we have to peel the onion
so deep to get the truth.
And you just came out
here and bared your soul.
I appreciate that.
I think you need a reboot.
So I'm going to
make you an offer.
You owe, total debt,
$270,000, right?
Mm‐hmm.
I will give you $270,000.
We pay off the existing
debt to everyone.
Okay.
And basically, that
brings the company
back to ground zero. Yeah.
I will then give you
an additional $100,000
to seed the "new" company.
Here's the catch, though.
Two Sharks are out.
Hans has big debts and
little cash in the bank,
but Robert seems
willing to take a chance
on his device accessory
company, Tenikle,
but it might come at a cost.
Here's the catch, though.
I own 60, you own 40.
‐Ooh! ‐Yowza!
Here's the caveat, though.
Whoa! Here's the caveat.
Whoo! You're going to
have to bring in real partners
who are going to
run the business.
Bad idea.
The next partner we bring in
is another Hans who
has the level experience,
has the experience in this area,
and whatever equity
we need to give them,
it will come out of my 60%.
Well, that's interesting.
All right, Hans,
you know, let me tell you
why I think my fellow Sharks
are tucking and
rolling out of this deal ‐‐
because of your vulnerability
to say you only have $39, right?
And a lot of people come
on here and they they act like
everything's all
great, so I say,
"Well, why are you here?" Yeah.
But on the flip side, I get it.
You know, when I had turned
my mother's
house into a factory,
I took a $100,000 loan.
It was the biggest
and the largest amount of
pressure I ever had in my life.
Three months later,
I turned around,
and I only had $500 in the bank.
I was three months late
on the mortgage, right?
I was paying for raw goods
90 days ahead of time.
I was paying for a
staff and salaries,
and my accounts receivables,
they wouldn't pay me for 30,
60, 90 days. Yeah.
And it was this
moment in my life
when my mother
came home and said,
"I'm‐a take an ad
out in the newspaper."
I said, "That's the
stupidest thing I ever heard."
She took out an ad ‐‐
"Million dollars in
orders need financing."
I got 33 offers
the next day. Wow.
30 of them were loan sharks
and people like Kevin O'Leary.
You're lucky I was there for
you, Daymond. -
One was Samsung's
textile division
and my mentors now,
and they believed in me. Yeah.
I had nothing. Zero. Yeah.
I believe in you.
But it's going to be expensive.
Because this is such high risk.
Yeah.
But I'm going to offer
you $200,000 for 1/3.
One third? 33% 33 1/3.
Okay. 33%. And ‐‐
No, 33 1/3.
Let's make it an even 30.
I know you know my back's
up against the wall, but...
That's not the purpose. Well,
at least you're honest about it.
That's not
why. I'm not trying to do it
'cause your back's
up against the wall.
But I'm putting money at risk.
Yeah, I understand. Okay.
And actually, that's not a
bad offer, all things considered.
It's better than I would
have done. I'm out.
Okay. Thank you, Mark.
You have an offer from Robert,
and you have an
offer from Daymond.
What do you think?
Daymond's offer's legit.
Well, my offer is legit, Mark.
No, it isn't, Robert.
Robert, it is a
legitimate offer,
and I really
appreciate your offer.
It would just break my heart
for how much I put into it,
and for those reasons, I'm out.
Have you been always
wanting to say that?
No! I've been waiting
to say that forever!
You had to get it on.
I had to do it. You
had to get it on.
Honestly, Daymond...
I ‐‐ dude,
this is a moment
right here, dude.
It is.
Yeah, dude. I like this.
Daymond, what would
you feel about 25%
for the 200K?
I feel 30 sounds really good.
I know it sounds
tasty, but that 25% ‐‐
He came down from 33 1/3.
Remember, I went to 33. I went
back to 30. - I know you did. Yeah.
Dude, I think we could
do a killing together.
I think you can open up a
ton of doors, and I can execute.
I know I can execute.
What's your best counter?
25% is my best counteroffer.
I‐I love it. I think
I will take it at 30.
That's hard, man.
Uh...
Let's do it.
- I like to counter.
- All right!
I got to counter.
I never hugged a guy
with flippers before, man.
I am going to work.
Seriously. You got it, brother.
‐Great product.
‐Thank you, guys.
‐Congratulations.
‐Seriously, thank you.
Great product, Hans.
Thank you, guys.
Congrats. Seriously.
Love you, guys.
Thank you. Love you, too.
Bye.
I had my back
up against the wall
with $39 in the
bank, living in an RV.
I made wrong moves before,
but all the right moves today.
I'm so stoked.
We are here to put an end
to this monkey business.
This is genius.
You just came out here
and bared your soul.
I love you, dude.
I need Sharks.
You need money.
I was sitting for 20 minutes
asking for an answer.
Are you starting a cult or
something? No, not in any way.
How the hell do I make
money with any of this crap?
Royalties? Noooo!
First in the Tank
is a versatile workout system
with on‐the‐go simplicity.
Hello, Sharks.
My name's Nezar,
and I'm from just
outside Detroit,
the Motor City.
It's no secret that
health and fitness
is extremely important to
many people around the world,
yet inactivity and
obesity continue to rise,
primarily due to limits on
time, space, will, motivation.
At MAXPRO, we can help
you overcome those challenges
by making fitness
more fun and accessible
with our award‐winning,
first of its kind,
extremely versatile
portable cable machine.
Literally fits in a bag.
This is the MAXPRO SmartConnect.
This amazing little
10‐pound machine
gives you 5 pounds to
300 pounds of resistance
with a simple turn
of our patent‐pending
power clutch dial ‐‐
ready, easy to use
right out of the box.
No heavy, bulky equipment. No
gimmicky gadgets. - Wow.
No flimsy bands. Used
practically anywhere.
We have developed a
whole ecosystem of products
that use the MAXPRO
for resistance. Wow.
Basically, with MAXPRO,
workouts are only limited
by your imagination.
But wait, this is "Shark Tank,"
and we have much more.
I mentioned that
MAXPRO is connected.
Our onboard sensors relay
detailed workout analytics
to our MAXPRO coaching app.
At MAXPRO, we're not just
a single‐product company.
Together with our customers,
we're building a
global lifestyle brand,
and for $500,000... Whoo!
I'm offering 2.5%...
‐Oh, Lord. ‐Oh, Lord!
Of my company.
Hey, Nezar, did I
hear you correctly
when you were explaining it
that you can adjust
the weight from ‐‐
did you say 3 pounds to 300?
Robert, why don't you
come and flex those muscles
and check this out?
I got to try it. Please.
But did I hear that correctly?
Yes, absolutely.
Now, these are 10 feet cables.
They're made of Dyneema,
which is a high‐molecular
polyethylene.
What weight do I
have, Nezar, now?
That's just 5.
Uh, 7.7, 7.
Good job,
Robert. That's 7.
Let me help you
out here. Alright.
I just want to show you how ‐‐
I just wanted to
feel ‐‐ Yeah, yeah.
Like, I just wanted ‐‐
This.
That's 10? That's 10?
What is that, 50?
That's 12. That's level 12,
which is about 45
pounds right there.
Oh, wow. Oh, my God.
I got to tell you,
that's incredible
that you do it all
from that. Yes.
What I'd like to understand
is when you talk about a
company that's worth $20 million ‐‐
$500,000 for 2.5%,
$20 million valuation ‐‐
I know and respect
that you're gonna have
sales and lots of users.
When did you start it,
how much did you
sell when you started,
and how have you been going
on the year‐over‐year basis?
Sure.
Overall product development
has been over 5 years,
but we first started
shipping product
in July of last year.
Oh, really? Okay. Just July.
What did you do
last year in sales?
$4 million in sales.
‐Whoo! ‐Whoa. What?!
Wow.
What have you
done so far this year?
Over $8 million. Wow.
Wow. Okay!
But I don't
like resistance bands
because I don't want to
have to go over the door
and connect it to the door
and then close the door,
and it's just, like,
a hassle. Yes.
But what if I want to
do other exercises?
Thank you very
much for helping out.
MAXPRO is literally
the most versatile thing
you've ever seen.
You can use it on a door.
You can use it like
he's doing right there.
It's in your kit right there.
But you have to mount those on
your door. Okay, so you put up the clips.
Yeah, and it's a strap.
It's a single strap
that goes around,
and they're
specially engineered.
We have a wall track
which does all the flies
that you're talking about. Oh.
You see her
working out on a tree,
working out on a fence.
How did you come up with this,
and what is your background?
My primary background
is automotive.
25 years in automotive.
So for me, global product
management... Are you an engineer?
Supply chain ‐‐
Are you an engineer?
Yes, I am an engineer. Yes.
Mechanical? Yes.
I was traveling at
lot. I was overseas.
I kept missing workouts,
and it was just
trying to figure out
how to get that
resistance on the road.
What does it cost to make
it? What does it cost to sell it?
And then I believe
you have an app.
So, retail value is $849.
Whoa, $849?
$849, and I got
to preface ‐‐ Wow.
Yes. Are these ours to keep?
Yes. Thank you.
So $849. And what does
it cost you to make it?
$205 landed cost,
$20 total between pick
and pack and shipping.
And you sell direct
to consumer only?
Yeah. 97% of our sales is D2C.
Well, that's pretty
well everything.
Nezar, how are you
selling $8 million of this?
COVID. Everybody sold.
Yes, that's exactly right.
And we do a ton of
money on marketing.
So what are you
burning per month?
Our essential burn's
about $100,000 per month.
Oh!
Could you become profitable
if you slowed down
your marketing?
We make money on
every one of these.
No, are you cash flow
positive this year? $1.6 million?
The cash flow positive
is a yes and a no,
because we take all
the money ‐‐ No, it isn't.
It's one or the other. No,
no. I mean, yes, we are.
But then we take that money
‐‐ Cuban: No, look, we get it.
Yeah. Yeah. Look, I
understand the business, right?
This is a grind‐it‐out,
competitive business.
We have over 3,000 daily
users right now on our app.
Last year, you did $4 million
from July to December. Yes.
How much did you
make on that $4 million?
Just over $50,000.
What was your
net? And this year,
you're going to sell
$8 million. Right.
Are you going to make
money or lose money?
No, this year, we're
probably going to reach
over $12 million in sales.
And what will you make on
that? Or will you lose money?
We'll probably be
close to breaking even ‐‐
But right now,
you're burning money,
is what you're saying. Yeah.
Look, there's nothing
wrong with it, right?
No, no, I'm okay with that.
I know we get all
caught up in profits,
but if you're going to
scale a business, right,
you've got to invest to grow.
You know, Mark, you're right.
You need to fund
the growth. Okay?
We took a revenue‐based
line of credit.
And ‐‐ Ooh.
So someone lent you money,
and for every dollar
that you bring in,
you have to pay what out?
It was 20%
and then goes to 25% now, 28%.
Wow. Basically,
we have over $5
million in inventory.
In inventory. Okay. Right now.
$5 million? And I'm curious,
why do you have that much?
Were you required to
do certain quantities?
It was a bit of a judgment call.
We also signed on
with a very big endorsement
personality ‐‐ Shaq.
I met Shaq at CES
in January 2020.
He came by our booth.
He checked it out.
He goes, "Oh, you know what?
I'm going to do this for you.
I'm going to blow you up."
What was your deal with
Shaq? You gave him equity?
He earns it over 4 years.
But what does he earn? How much?
1.25% this year, okay,
and it can go up to 5%.
You're in a really tough
spot right now, then.
Yeah, we're in a tough spot,
but we're also going
into the holiday season.
Right, I get that, but you
don't have the money to spend
on advertising.
You need to blow this out.
I need Sharks. You need money.
Yeah, yeah, it's hard,
but it's also expertise.
I think I have an offer for you.
All Sharks are still in,
and Daymond seems interested
in Nezar's portable fitness
equipment, MAXPRO.
I think I have an offer for you.
I will give you the 500K,
but I would put a royalty on it.
Did I hear royalty?
You did hear royalty.
You don't say. I do say.
Well, I'm listening.
$25 a unit 'til I
get back my 500K,
and then I would
convert to 4% ownership.
That's not
horrible. It's not bad.
That's a good offer.
Can I ask you a question?
Yes, sure. What
do you need from a Shark?
I think the Sharks
know how to open doors.
They can help us to get
more investments. Okay?
And we're going into retail,
also hotels and military.
We have so many military
members that take this on deployment.
Nezar, you ever offer
anybody a half a million dollars
and they didn't
even acknowledge it
or give you any kind of answer
or any kind of feedback?
I was thinking about
you the whole time,
and questions are coming,
and I so apologize about that.
So what do you think?
I think it's a pretty good deal.
So? I think it's a
pretty good deal.
Not the royalties piece
and paying you back.
What is your return
rate? I'm just curious.
Oh, great question.
And I'm happy to say
that it's less than 5%.
I had an even better question.
Yeah, I mean, but
this is important
because a less than
5% in consumer goods ‐‐
‐Yeah, it's very low.
‐That's really good, yeah.
But you're
overselling at this point, right?
No, he's not, 'cause some
of us still have questions.
Okay, but what
happens, though ‐‐
Because it's complicated.
I would definitely like
to answer the questions.
You see how long your pitch is?
I was sitting for 20 minutes
asking for an answer!
Do you need the app, and
do you need all the rest?
I mean, today,
everything has an app
that even just has
your coached classes,
but we've been working from
the ground up on a new app.
You're losing a ton of
money right now. Yeah.
How much money
could it come down
if you didn't have the app?
This isn't just a connection
and count your reps.
This is literally displaying
how you're working out.
I'm going to push
back on that a little bit
because I don't like where
you're going on the app spend.
I look at this and
say to myself,
"Why spend any money on an app
when everybody's
already got one?"
So that's kind of the
tipping point for me.
But they can't use the MAXPRO.
It doesn't matter.
It doesn't matter.
We have a philosophical
disagreement on the direction.
That's my opinion,
okay? I'm out.
"Oh, my God, Daymond,
did you become more valuable?"
Let me see if I can get to an offer.
Why, yes, I did. I did
become more valuable.
Let me see if I
can get to an offer.
You're awesome, Daymond.
Let me see if I
can get to an offer,
and you can tell
me if it works or not.
So here's what I'll offer.
I'll give you the 500K for 3%,
plus I want the exact same
deal that you gave Shaq
in advisory shares.
So then that way, Shaq and
I can work together, do stuff.
He's a great friend.
So that's what it is. Oh.
500K, 3%, plus the
5% in advisory shares,
vested the same way as Shaq.
That offer is far more generous
than I was going to make you.
I'm out.
Thank you, Robert. Thank you.
"Oh, my God, did you become even
more valuable?" So you got two offers.
Thank you. Are we good?
Did he even talk to you again?
Did I answer all the questions?
No more questions.
You got to decide.
Ah, Nezar.
I think what Mark offered
you is a really good offer.
I was going to be a
bit steeper than that.
So... Thank you.
I'm going to go out.
I'm so happy to be
here with all of you guys.
You have two offers.
What are you going to do?
And I never wait, so this is ‐‐
"Daymond, will
somebody talk to you?"
Daymond, I definitely
appreciate the offer,
but I just have one
question for Mark.
Well, you got to make sure
that question is a good question
because I'm out.
Whoa.
Yes, sir. Thank you.
So the line of
credit that we have ‐‐
is there a way that
we can replace that,
or you can help with
inventory? Yeah, potentially.
I'm not going to
commit to it now,
but it's certainly on the table,
and it's something I
do all the time. Okay.
The only offer you have is Mark.
Right, so we're having a
conversation. No, no, I'm not arguing.
I'm just saying yeah,
absolutely, Mark, dude,
I'm, like, all‐in,
baby. Of course.
Yeah, yeah. Thank you so much.
All right. Thank
you. Appreciate it.
- Yeah, awesome.
- Congrats, Nezar.
Thank you so much.
Daymond, love you, man.
We're not talking.
No, no, no, I ‐‐
Whoo.
Mark is a ‐‐ like, a
perfect fit for our company.
This is a big
game‐changer for us.
We're going to go
from a little company
with no name recognition
to basically a global brand.
That is exactly
where we want to be.
In season 12, Duane Cheers,
Danita Claytor, and
Jumoke Jackson
made a deal with Mark Cuban
for their gourmet
plant‐based food company,
Everything Legendary.
I think people are going to
love these. We got a deal.
That's what I'm
talking about! We did it!
Let's see
what they're up to now.
When we pitched
our business to the great whites,
all we had was
$165,000 worth of sales.
Right after "Shark Tank,"
we did $250,000
in just 24 hours.
Four months since then,
we did $1.7 million in sales.
I cry about it
every single night.
I do too. It's unreal.
Before "Shark Tank," we
were in a shared kitchen,
and when I mean
a shared kitchen,
it was me and my mama's kitchen,
and we were doing over
1,000 burgers a day by hand.
Now we've brought
on three co‐packers,
two national
distribution centers,
and we can produce over
160,000 burgers in just an hour.
Let me just say how much
respect I have for the hustle.
Everything
Legendary is a textbook case
on what every entrepreneur
for consumer products should do.
They go out to their customers.
They don't take
"no" for an answer.
They do pop‐up stores.
Their energy and
their relentlessness ‐‐
I mean, they're
just at the beginning
of what they can be.
In just a few months, we
have expanded our business
to over 1,000 grocery
store locations ‐‐
Giant, Safeway, Target,
Walmart, and many more.
An entrepreneur's
journey is a tough road.
It's emotional.
If you haven't cried
about your dreams,
then your dreams
aren't big enough.
You're going to receive
a million and one nos,
but you have to keep on going,
because all you
need is that one yes,
and that one yes will
change your entire life.
Hey, we flying off the shelf.
I literally went from being
broke, living in my car,
to now with a company that did
over $1.7 million in
sales in just 4 months.
That's a dream come true.
"Shark Tank" validated
every thought that we ever had
and told us that if we stay
focused, if we work hard,
we will be successful,
and most importantly,
we will be legendary.
Next up is a tool
that takes snacking
to the next level.
Oh, my goodness.
Hi, Sharks. I'm Renee Heath.
And I'm Bechara
Jaoudeh, and we are...
Banana Loca!
Whoo!
We're seeking $250,000
in exchange for 25%
of our very
"ap‐peel‐ing" business.
Sharks, my favorite
snack of all time
is banana and chocolate
hazelnut spread.
Yes.
The flavor combination
is just delicious.
But what a mess.
Have you ever tried to
take slippery banana slices
and tried to spread
peanut butter on them?
Awful. It just doesn't work.
So we are here to put an
end to this monkey business.
Introducing Banana Loca,
the very first kitchen gadget
that allows you to
core and stuff a banana
while still in its peel.
First, you core
while still in its peel
and then fill it with
whatever you want.
It's so easy to use
that the whole family
can really use and enjoy.
‐Wow. ‐Wow.
That is a great
idea. - Interesting.
That actually is not bad at all.
Sharks, creating joy by putting
something yummy in tummies
and smiles on faces
is why we do this.
So, Sharks, which one of you
wants to join our
bonkers banana bunch?
Whoo!
Sharks, in front of you
is your very own
Banana Loca to try.
How does it work?
Renee's going to walk
you through it step by step.
Please.
So first, you're going
to take the banana
and put the cut end
into the straightener.
Ah, okay.
Go ahead and straighten
against that holder with one hand.
You're going to take your
corer, and when you insert it,
wait 'til it's fully inside,
and then give it a little
twist to break off that core.
Oh,
twist? A little twist.
Let me just tell you,
that is oddly satisfying.
Good. We're glad
you're enjoying it.
I'm not being funny.
I keep pulling it out,
but it's not ‐‐ it's
‐‐ nothing's in it.
So when you go all the way in,
you want to
twist... I did twist.
And then cover the hole.
That creates suction. So what
you have to do in the next step...
is after you twist to break off
that core... Oh! Cover this hole?
You're going to take your
thumb to cover that hole.
Oh!
That's the
secret. - Yeah!
That's the secret. Got it.
You should have a
perfectly cored banana. Got it.
You just have to take
your cored banana
and go ahead and insert it into
the nozzle. - Oh, that's gross.
So you go ahead
and insert the banana.
I've become a
pro at this already.
Just like a new utensil,
there's a learning curve.
This is good.
Well, it tastes great.
Y Chihuahua,
caramba! That's good.
That is good. I
love this. You do?
This is my favorite
snack. - Yeah.
This is genius.
Thank you, Robert.
So, what else
can you do with it?
You can fill doughnuts, churros.
Donuts?
Zucchinis. Zucchinis.
Hot dogs. Zucchinis.
Actually, another vegetable
was cucumbers filled
with cottage cheese.
Ohh. But also a big segment
was cake and cupcake decorating.
All your sales are,
obviously, all online right?
Correct. All D2C.
Great. And what are the sales?
We have done $134,000
in sales in 5 months. Wow.
‐Wow. ‐Wow.
With limited marketing.
Really, we've just
rode the organic wave
from different influencers.
And you didn't tell us
what the cost was landed.
You're making this
in China, I assume?
Correct. Our landed cost is $6.
$6? Okay. Greiner: And
what do you sell it for?
$26.99.
And how much
do you have invested in it,
'cause I know you had to
create a mold and everything else.
8 molds. Yeah.
So we have about $224,000
of our own money in it.
‐Oh. ‐Wow.
That was a big
learning thing for us.
I'm shocked, actually, at
the price, I have to be honest.
‐Yeah. ‐Yeah, that's crazy.
Yeah, you got a banana
in the tailpipe on that one.
So I give you $250,000.
‐Sure. ‐Mm‐hmm.
What happens next? Sure.
The money will go towards
inventory and paid marketing
so we can really supercharge
and put gasoline into our ‐‐
You guys should never have to do
any paid marketing
at all on this thing.
You're not going to take
this to retail, are you?
Correct. It's a very
visual demonstration.
Sure. It needs to be
demonstrated online,
it needs to go viral,
and people have to
buy it from your site.
I like it, but the only
way this works for me,
and I'll be the
first to tell you,
is this is a royalty deal.
That's what it is.
I'll give you the $250,000,
and your margins are good enough
to pay me back 3 bucks a unit.
That's how I get my money
back. No equity. You own it.
My interests are aligned
in using my social media
to blow it up and say,
"Look, this is a Chef
Wonderful exclusive."
I'll sell a ton of
these for you.
3 bucks a unit?
Yeah, 3 bucks a unit.
You are being
greedy. I don't think so.
Kevin, when does
the royalty stop?
Never. It doesn't.
Never. Never?
Well, how do I make
money, Robert?
How do I make money?
How do they make money
if they're always
paying a royalty?
They get the rest.
I mean, look, it's an
offer. You can decide.
Yeah. Thank you for the offer.
I buy this type
of stuff every day
and my wife takes it,
as soon as I open it up,
she goes out to the backyard,
and she puts it in the garbage.
And I do like it a lot, but
this is one of those things
you'll do with the
kids once or twice,
and then it's going to sit up
there with all the Tupperware.
It's not going to
work for me. I'm out.
Thank you, Daymond.
You're so early, and
it's just not a business
that I think is investable
for me right now.
So I'm sorry, I'm out.
- Thank you, Laurie.
- Thank you.
I love gadgets. I buy
these things all the time.
Look, complete
flyer. I love you guys.
Thank you. Thank you. Thank you.
I really think you're
really entrepreneurial.
I actually don't know if
it's going to go anywhere,
so it has to be a
royalty deal for me.
I'll give you the $250,000
you're looking for,
$3 royalty until I
recoup $350,000.
I also want 10% equity
in case somebody
buys the product,
or some other blow‐up.
Thank you very much for
your offer and believing in us.
Yeah. Really appreciate it.
What have you
done in social media?
We have limited funds right now,
and that's where we're hoping ‐‐
I'm not talking about
advertising. Right? Yeah.
So you should never have to spend ‐‐
Oh, we're on Instagram, we're on TikTok,
we're on Twitter.
But you have not
been able to get
any traction
yourselves effectively.
We do. Nothing monumental.
We need to get
a larger audience.
We started from
zero under this brand.
Yeah, 'cause I've done
two food videos with my son.
The last one had
20 million views,
and the one before
that had 11, and so I'm ‐‐
All right, Mark, I'll give
you $250,000 for 25%.
But that's Mark
Cuban's son, right?
No, I get it. I get it,
right? I'm not there.
I'm not trying to
compare the two, right?
We're here not
just for the money.
We need the star
power behind it.
Giving us a little
bit of an edge
and a little bit of
an endorsement
is more important to us
than the money because ‐‐
I don't know if you
need star power.
‐ I think you need ‐‐
‐ Yeah, definitely do.
You need functionality, guys. You definitely
do, because that's what makes it go viral.
You need it to do a whole bunch of
things... Kevin, let's do this together,
but do it as a regular deal, not a royalty.
And someone will go, "You know what?
It's worth spending money
on." Got to be a royalty.
No. I'm not doing
it without a royalty.
You never get your capital back.
You'd be buying more and
more and more inventory forever.
Bechara, you really
think you need star power
to drive this thing?
It's not a silver bullet, right?
It's going to be healthy
execution on our side,
driving costs down,
getting some funds for inventory
and some marketing
and promotions.
Why take
any equity? Just do it ‐‐
Because I want it.
I think we can turn this
into an evergreen product.
How much equity do you want?
We have the
execution machine in place.
We just need to
pour more gasoline.
Okay, guys, I'll help you
pour some gasoline. Yeah.
Kevin and I want
to work together,
so we'll give you the
$250,000 for 25%,
and we want a $3 royalty
but just until we're paid back.
And so if we hit virally on
any of this, it's easy money.
Very quick. So that's the
deal. What do you think?
Would you be open
to doing $2 royalty? No.
You got a deal. Nice.
Oh, congrats, guys.
‐This is awesome. ‐Let's
have some fun with it.
‐Thank you. ‐Thank you so much.
I've never hugged
a banana before.
Guys, thank you so
much for your offers. Thank you.
We freaking did it!
He didn't want to choke
on his banana with that one.
He said, "Would
you mind doing $2?"
"No." "No problem."
Mr. Wonderful and Mark.
We get two Sharks.
Two Sharks. Wow.
We got our top two Sharks.
They're going to
bring both their forces,
big magnifying
glass on our brand.
I mean, to the moon, baby.
Next in the Tank
is a business with
wellness in mind.
Hi, Sharks.
My name is Liv Bowser,
and I'm from Los
Angeles, California.
I'm seeking $200,000
in exchange for 10% of
my company, Liberate.
Sharks, are you ready for
the best workout of your life?
Well, today, I'm going to
have you working out muscles
you forgot existed.
Just one second. Let
me get my equipment out.
Perfect.
Oh, did you think
we were working on
our physical fitness today?
No, Sharks. Today, we're
working out our mental muscles.
Ah.
Liberate is the first
mental fitness studio.
Our method blends
mindful movement
with journaling,
conversation, and meditation
for a dynamic
workout for your mind.
Our classes and courses
empower individuals and teams
to build skills like courage,
gratitude, and resilience
to strengthen
collective wellbeing.
Sharks, it doesn't take
heavy lifting to know
that we're onto something here.
So who wants to put your
money where your mind is
and join our mental
fitness movement?
So, Liv, are you starting
a cult or something?
No! Not in any way. How
the hell do I make money
with any of this crap?
Do I go somewhere, Liv?
Like a spin studio? I mean,
you have a physical studio?
We launched online
classes hosted over Zoom
in May 2020.
So, Liv, were these
instructor‐led classes?
Yeah, so, it's myself
as a class leader,
and we have four other
incredible class leaders
with all the different wellness backgrounds.
Right, but how many people would log in?
20, on average, per class.
Okay, and what do you charge?
So a subscription for
our on‐demand library
is $19 a month,
and the subscription
model for all access,
which includes our
courses, our live classes,
and the on‐demand
is $49 a month.
And how many
subscribers do you have?
So, I want to open
up the picture a little bit
because the main
source of our revenue
is our B2B model.
In 2021, we realized
businesses and teams
need a lot of help, too.
Teams are really disconnected.
They're remote,
they're struggling to
connect on a human level.
So 65% of our business now
is through our
corporate partnerships.
Let me ask, what's
your total sales?
Total sales is $50,000 lifetime.
‐Ooh. ‐Ooh.
That's not a lot, Liv.
I don't think anybody here
is going to challenge
your premise.
I'm on board 100%.
What I'm struggling with ‐‐
how is this business
worth $2 million today?
Yeah, our margins are over 90%.
We have 178%
quarter‐over‐quarter
growth rate.
We're 10X'ing the
business in the first year,
and we've built a
highly scalable system,
team, and curriculum.
But you only have
$50,000 in sales.
Lifetime. So far.
We're just getting started.
How about this year?
I love the optimism, but,
boy, is that ever small.
How much did you do last month?
We did $7,500 last month,
and we're projecting
doing $8,500 this month,
and we have a $6,900 deal
with a corporate partner
that's closing this month.
You're not getting scale, Liv.
Yeah, that's the challenge.
Like, seriously. Like, I love ‐‐
I love everything
about what you're doing,
but there are big
companies doing similar stuff,
and they're charging
us $50,000 $100,000.
Yeah, we don't charge that much.
So why aren't you getting that scale?
Is it because you don't
understand the B2B market
or the consumer market
isn't working for you?
Why isn't there more?
Our corporate program,
it's only 6 months old,
and we also would like
to use the capital from
a Shark investment
to hire a sales manager
to help really invest in
scaling the B2B business.
Yeah, that's still hard.
I think his point,
though, is pricing
more than anything else.
I can raise the prices.
Yeah, and you might have to.
I mean, look, I believe
in mental clarity.
The Dallas Mavericks have had
a full‐time, you know,
team psychologist,
because if you can't
perform mentally,
you can't perform physically.
The challenge is, how do
you scale, to Robert's point?
And I learned this
a long time ago ‐‐
sell at a premium.
Don't sell out of
desperation, right?
Because selling $5,000 deals
is no easier than selling
$50,000 or $100,000 deals.
Yeah. You've got
to get to that point
where you have enough
confidence because you're right on ‐‐
you're on trend, you're
on need, you're on value,
but you're
under‐pricing yourself,
and because of that,
it's really impossible
for an investor to come in
because it's really impossible
to scale with where you're at.
So for those reasons, I'm out.
Well, I'd like to
talk to another point
of how we can scale.
Let me just ‐‐ Let
me just pick up on that
because I think ‐‐
Not if you're following
a similar trend, though.
Well, you're very
early in your journey.
You're ‐‐
It's a good time to join.
It is a good time to join.
It's not a good time to join
at a $2 million valuation.
I love what you're
doing, but I ‐‐
We are going to be the
SoulCycle of mindfulness.
We're licensing
out our curriculum.
We have 100 variations of
proprietary curriculum... Maybe.
That can be licensed
out to every fitness studio,
every fitness instructor.
Maybe, but you haven't
done any of those things today
to show me a tangible return.
It's an early stage
business, but the idea ‐‐
It's not a $2 million business.
It's not ‐‐ So what?
So I'm open‐minded.
I'm so flexible.
It is unbelievably important
to me to partner with a Shark.
That is my goal. I am so
hardworking and driven.
I‐I can't leave this
carpet without a deal.
My purpose on Earth
is to build Liberate.
I would love to have your
support on that journey.
I just think you need to go
through a journey to learn more
before I can come with you.
I'm out.
Okay. Thank you.
Well, my thought is that
I love what you're doing.
Thank you. We all know
that the mind is the
largest muscle on the body,
and as soon as that thing
expands, it never shrinks.
Never goes back.
But you haven't
figured it out yet.
Little too early.
I love what you're
doing, but I'm out.
Thank you.
Kevin, Lori? Greiner: Liv.
Lori? Liv.
Listen. Lori.
Listen.
Lori!
Lori! Liv, listen.
Come on. Women supporting women.
Mindfulness. You
meditate every day. Liv. Liv.
You have a wellness portfolio
that's ripe and
perfect for Liberate.
You're right, and, you know,
you've done your homework.
You're wonderful.
You have energy,
and you have grit.
I'm open to literally
any deal on the planet.
I really want to work with you. I
know. I know you are. I know you are.
Right now, you are at a stage
where you're figuring
out what you're doing.
This is where you
invest in the entrepreneur
and then the idea
grows like a tree.
You don't have it realized
fully enough yet for me,
and for that reason, I'm out.
Thank you, Lori.
Royalties?
Oh, wow.
Liv. Wow.
Come on. Good for
you, Liv. Good for you.
This idea is without
merit. It's going to zero.
You'll never make
any money. - No.
Oh, God. You will
never get an investor.
Take it behind the
barn and shoot it
and do something
else. - No.
You are a disgusting
human. I'm out.
Thank you, Kevin.
Good luck, Liv.
Congratulations. Good luck, Liv.
You have to go now. Do I leave?
Yeah, that way. Okay.
Thank you!
I went in believing in what I
was doing and my valuation,
and I think I could
have valued it lower
to get a Shark on board,
but honestly,
I think it's going to be a
billion‐dollar company,
so I'm happy I stuck to my
guns, and no sense in regrets.
Next in the Tank
is a product inspired by
a creature from the sea.
Ooh.
Hello, Sharks, my
name is Hans Dose,
I'm from Dana Point, California,
and I'm here seeking $200,000
in exchange for 10%
of my company, Tenikle.
As you can see,
I love the ocean.
I especially love the octopus.
With all these tentacles,
they could do so
many things at once.
We humans have a big problem ‐‐
holding phones while
trying to do something else
with only two hands.
You'll never see an octopus
with not enough
hands to snap a selfie.
Currently, these
options for humans...
Oh, my.
Noooo!
Hans!
Only serve a single function.
What if we had
one portable product
that did everything these do?
Now we do.
Introducing Tenikle,
the octopus‐inspired
suction mount for your tech
designed to empower
go‐getters to do their thing better,
totally hands‐free.
Tenikle does a million things.
It works with phones,
cameras, tablets.
It's your car mount,
your bike mount,
your speaker mount,
and, hold your
seahorses, even...
a pickle holder.
What? What?
And just like the octopus,
Tenikle is waterproof
and super durable.
It can even support the
weight of a surfboard.
Wow.
Humans only have two hands.
Let's fix that.
So, Sharks, what do you say
you jump in with a fellow
sea creature like me
and make a huge splash in
the boring mount industry?
I like it. I really, really
like it. Thank you.
How much do you sell it for,
and how much does
it cost you to make?
Wow.
Costs me $6. $45? Wow.
Yeah, we're selling it at $45.
We've tried
different price points,
but it costs me
$6.08 currently...
‐Whoa! ‐...with that version.
‐Nice! ‐Margin city!
Wow. OK, but wait,
how many have you sold?
Over 40,000 units to date.
Dough! 40,000 units?!
$1.3 million in
sales to date. Whoo!
Coming out the gate
hot. And this is all this guy.
When did you start?
How many years ago?
So, I actually wrote the
patent myself in 2015.
Wow. I was working
at Hurley as a designer.
It was really my dream job,
working in the surf industry,
and I just had this idea,
what if I combined a car mount
and a tripod into one?
And when I gave the
product to friends and family,
this crappy
prototype that I made,
every person had this discovery
moment where they were like,
"Oh, my God, I
can use it for this,"
or "Hey, I can use it for this."
And there's so many use
cases for it that I was like,
"Oh, I have to do
this, obviously."
So at the end of 2017, I
launched a Kickstarter.
We raised about $172,000.
It blew my mind. Wow.
And then I thought, "Oh,
my God, I have to quit my job.
I have to do this."
So when I do
something, I go 110%.
I quit my dream job.
The product that you
see here, generation 4.
What was wrong
with version three?
On Amazon, I saw that
there were some reviews
that were not ‐‐ We
had a 3.7‐star review,
and I was like,
"Okay, that's still not
‐‐" I needed that 5.
Why didn't people like it?
Honestly, the suction cups.
That was the biggest thing. Ah.
Suction cup geometry
is a whole science.
What did it cost to go
through all these iterations?
Well, to be honest,
my debt is at
$270,000 currently.
Okay. $270,000?!
Yes. I know.
Y Chihuahua, caramba! Whoa.
What is your last year of sales?
So, last year, we did
about $478,000 in sales.
And what did you do last month?
What was your profit on that?
Last month, we did
about $9,000 in sales.
Oh. Not good.
What happened?
I want to tell you
what happened.
So we were doing
so well in 2020.
Despite COVID, so many
people were using this product
for FaceTiming or Zoom calls,
and the year prior, I
had run out of product.
So this year, I freaked out,
and I ordered a
shipping container full,
so at cost, it was about 130K.
And why didn't it sell?
Thanksgiving Day comes,
and I ran out of
marketing dollars
to continue going.
My only sales were
coming from one channel ‐‐
that is our website and
paying Facebook ads.
So how much inventory
do you have right now?
About $891,000.
Wow. At cost? Whoa!
At cost, about $111,000 at cost.
But you don't have to really
pay for ads, necessarily.
You could do your own videos.
Put them up on social media
platforms. I'm learning that.
Is this your full‐time gig?
This is my full‐time gig.
My wife and I, we work
together on this business,
and to get out of
our debt situation,
we moved into an RV.
I'm not kidding.
An RV on my mom's
property in Menifee, California.
All right, Hans. So
it's clear you're all in.
You're all in. Yes.
If you don't get more
capital to buy ads...
Yup... you're going to zero.
No.
That's what I think.
No, 'cause you've got
$110,000 in inventory.
Your worst case, you're going
to flea markets on weekends
and demonstrating and
selling them there. Worst case.
How much cash do you have, Hans?
I have $39 in the bank.
Oh!
‐What? ‐You have what? $39?
How did you get here?
I have just enough to get home.
How are you going to
get back? Not with that.
You're going to have to sell
your flippers. I've got gas money.
These would be
worth a lot, actually.
Yeah, you're right.
Well, Hans, let me
look at it this way.
One saving aspect to this
is the product's pretty good.
It's really good.
Fundamentally, I can't
criticize the product
and I can't criticize you.
You're a good guy.
Thank you. I get it.
You need to get capital.
I love you, dude.
It's not about ‐‐
No, listen.
That's a first also.
In the end, I don't
need another job.
It's not a situation I
want to put myself into.
I wish you the best. I'm out.
Thank you. Thank you, sir.
So, I think it's a good product.
I think you're in a
very crowded space.
It's just not the
right investment
for me at this time. Okay.
I wish you good luck,
but I'm out. Thank you.
Thank you, Lori.
I can make it
happen. I know I can.
Yeah, I incurred some
debt along the way,
but it's serviceable.
My monthly payments are
about three grand a month.
Three grand isn't a lot,
but it is when you
have $39 in cash.
You know, so often
on "Shark Tank,"
we have to peel the onion
so deep to get the truth.
And you just came out
here and bared your soul.
I appreciate that.
I think you need a reboot.
So I'm going to
make you an offer.
You owe, total debt,
$270,000, right?
Mm‐hmm.
I will give you $270,000.
We pay off the existing
debt to everyone.
Okay.
And basically, that
brings the company
back to ground zero. Yeah.
I will then give you
an additional $100,000
to seed the "new" company.
Here's the catch, though.
Two Sharks are out.
Hans has big debts and
little cash in the bank,
but Robert seems
willing to take a chance
on his device accessory
company, Tenikle,
but it might come at a cost.
Here's the catch, though.
I own 60, you own 40.
‐Ooh! ‐Yowza!
Here's the caveat, though.
Whoa! Here's the caveat.
Whoo! You're going to
have to bring in real partners
who are going to
run the business.
Bad idea.
The next partner we bring in
is another Hans who
has the level experience,
has the experience in this area,
and whatever equity
we need to give them,
it will come out of my 60%.
Well, that's interesting.
All right, Hans,
you know, let me tell you
why I think my fellow Sharks
are tucking and
rolling out of this deal ‐‐
because of your vulnerability
to say you only have $39, right?
And a lot of people come
on here and they they act like
everything's all
great, so I say,
"Well, why are you here?" Yeah.
But on the flip side, I get it.
You know, when I had turned
my mother's
house into a factory,
I took a $100,000 loan.
It was the biggest
and the largest amount of
pressure I ever had in my life.
Three months later,
I turned around,
and I only had $500 in the bank.
I was three months late
on the mortgage, right?
I was paying for raw goods
90 days ahead of time.
I was paying for a
staff and salaries,
and my accounts receivables,
they wouldn't pay me for 30,
60, 90 days. Yeah.
And it was this
moment in my life
when my mother
came home and said,
"I'm‐a take an ad
out in the newspaper."
I said, "That's the
stupidest thing I ever heard."
She took out an ad ‐‐
"Million dollars in
orders need financing."
I got 33 offers
the next day. Wow.
30 of them were loan sharks
and people like Kevin O'Leary.
You're lucky I was there for
you, Daymond. -
One was Samsung's
textile division
and my mentors now,
and they believed in me. Yeah.
I had nothing. Zero. Yeah.
I believe in you.
But it's going to be expensive.
Because this is such high risk.
Yeah.
But I'm going to offer
you $200,000 for 1/3.
One third? 33% 33 1/3.
Okay. 33%. And ‐‐
No, 33 1/3.
Let's make it an even 30.
I know you know my back's
up against the wall, but...
That's not the purpose. Well,
at least you're honest about it.
That's not
why. I'm not trying to do it
'cause your back's
up against the wall.
But I'm putting money at risk.
Yeah, I understand. Okay.
And actually, that's not a
bad offer, all things considered.
It's better than I would
have done. I'm out.
Okay. Thank you, Mark.
You have an offer from Robert,
and you have an
offer from Daymond.
What do you think?
Daymond's offer's legit.
Well, my offer is legit, Mark.
No, it isn't, Robert.
Robert, it is a
legitimate offer,
and I really
appreciate your offer.
It would just break my heart
for how much I put into it,
and for those reasons, I'm out.
Have you been always
wanting to say that?
No! I've been waiting
to say that forever!
You had to get it on.
I had to do it. You
had to get it on.
Honestly, Daymond...
I ‐‐ dude,
this is a moment
right here, dude.
It is.
Yeah, dude. I like this.
Daymond, what would
you feel about 25%
for the 200K?
I feel 30 sounds really good.
I know it sounds
tasty, but that 25% ‐‐
He came down from 33 1/3.
Remember, I went to 33. I went
back to 30. - I know you did. Yeah.
Dude, I think we could
do a killing together.
I think you can open up a
ton of doors, and I can execute.
I know I can execute.
What's your best counter?
25% is my best counteroffer.
I‐I love it. I think
I will take it at 30.
That's hard, man.
Uh...
Let's do it.
- I like to counter.
- All right!
I got to counter.
I never hugged a guy
with flippers before, man.
I am going to work.
Seriously. You got it, brother.
‐Great product.
‐Thank you, guys.
‐Congratulations.
‐Seriously, thank you.
Great product, Hans.
Thank you, guys.
Congrats. Seriously.
Love you, guys.
Thank you. Love you, too.
Bye.
I had my back
up against the wall
with $39 in the
bank, living in an RV.
I made wrong moves before,
but all the right moves today.
I'm so stoked.