Angel Investors Archive

Below is a recap of the April 27, 2012 episode of the ABC show Shark Tank. If you are unfamiliar with Shark Tank, the concept is simple – entrepreneurs pitch their ideas to a panel of investors and the investors have to provide at least the amount the entrepreneur is seeking for a deal to be completed.

Tonight Barbara Corcoran was replaced by QVC product creator Lori Greiner. Other sharks include: Mark Cuban, Kevin O’Leary, Damond John and Robert Herjavec.

Don’t forget to check out our previous Shark Tank recaps.

Pitch #1 – Duality Cosmetics

First up into the Shark Tank was Barbara Lampugnale seeking $50k for 20% equity in Duality Cosmetics. Basically her product is an all-in-one nail polish bottle.  Instead of having a bottle of nail polish, bottle of nail polish remover and a nail file, Barbara’s product combines them all into one unit. She makes the bottles for $3/each and sells them for $15. Barbara has invested $300k of her own money into the company.

Lori made an offer of $50k for 51% of Duality Cosmetics. Kevin came back with $50k for 40%. Kevin and Lori went back and forth about why each offer is better than the other. Damond enters the conversation with, “a piggy bank with 2 coins in it makes a lot more noise than a full piggy bank”. Lori counters with the same offer as Kevin at $50k for 40% and Barbara accepts the offer.

Update – Talbott Teas

Last season Kevin signed a deal with the founders of gourmet tea company Talbott Teas. The update explains that the deal actually went through with Kevin, Damond and Barbara. The company was bought by Jamba Juice and the teas will be in Jamba Juice stores later this year.

Pitch #2 – Debbie Brooks Handbags

Up next into the tank were husband and wife Paul D’Auriac and Debbie Brooks pitching for $540k for 20% of Debbie Brooks Handbags. Basically the product line was a set of purses and handbags that allow for magnetic faceplates to allow a woman to easily change the look of the bag. The company had $1.2 million in sales last year. Unfortunately the couple left without a deal.

Pitch #3 – Try My Tank

This one was a quick in and out no deal. Lindsay Johnson and Nicole Bilsky entered the tank seeking $57k/30% of their business Try My Tank which creates customizable tank tops for women. So the idea is that the shirt part and the straps parts of the tank top are separate and you can mix and match which shirt goes with which straps. The shirts retail for $35. Unfortunately the two entrepreneurs left without a deal.

Pitch #4 – Lollacup

Last into the Shark Tank were husband and wife Mark and Hanna Lim with their new style of sippy cup. The couple was seeking $100k for 15% of Lollacup.  Kevin O’Leary called it, “the new sippy cup”. I think it was one of the nicest looking products and packages to ever come into the Shark Tank.

Kevin made an offer of $100k for 50% but it was contingent on moving manufacturing to an offshore location to drive down the cost to produce the Lollacup. Damond comes in with the same offer as Kevin but with a contingency that they can remove their new sales rep. Mark Lim comes back at $100k for 40% and Mark Cuban seemed to accept. Damond dropped his offer to $100k for 30% but due to back-and-forth, Damond went out. Mark and Hanna accepted a deal with Mark Cuban and Robert for $100k for 40% of Lollacup.

Below is a recap of the April 13, 2012 episode of the ABC show Shark Tank (episode 307). If you are unfamiliar with Shark Tank, the concept is simple – entrepreneurs pitch their ideas to a panel of investors and the investors have to provide at least the amount the entrepreneur is seeking for a deal to be completed.

The sharks appearing on tonight’s episode are: Mark Cuban, Barbara Corcoran, Kevin O’Leary, Damond John and Robert Herjavec.

(Unfortunately ABC in my area decided to once again push Shark Tank to Sunday at 1am. I had to find an online stream and missed the first pitch. I will update this post after ABC posts the episode tomorrow. I think the pitch was from a cookie/blondie company)

Don’t forget to check out our previous Shark Tank recaps.

Pitch #2 – ViewSport

Ben Wood came into the Shark seeking $50,000 for 20% equity in his company ViewSport. The company provides “sweat activated technology” which gives you “motivation through perspiration”. The idea is that as you sweat, the shirt shows you a logo. Reminds me of those tshirts and jeans in the 80s that changed colors when wet! This year they have done $140k in sales. Ben quit medical school to start ViewSport. The company is hoping to license the technology to retailers and also create other apparel.

Continue reading “Shark Tank Recap – April 13 & a Second Chance Pitch!” »

Below is a recap of the March 23, 2012 episode of the ABC show Shark Tank (episode 307). If you are unfamiliar with Shark Tank, the concept is simple – entrepreneurs pitch their ideas to a panel of investors and the investors have to provide at least the amount the entrepreneur is seeking for a deal to be completed.

The sharks appearing on tonight’s episode are: Mark Cuban, Barbara Corcoran, Kevin O’Leary, Damond John and Robert Herjavec.

(apologies for the delay in posting this recap, my area didn’t air the show last night so I had to wait for the web version)

Don’t forget to check out our previous Shark Tank recaps.

Pitch #1 -The Ave

Nick Romero pitched his custom store seeking $125k for 15% of The Ave. Nick’s shop allows customers the ability to create custom clothing in minutes. The items include shirts, hats, sneakers in the store using images provided by customers. Nick’s printing process is patented and Nick suggests that people of all ages create products in his shop. He is looking to expand The Ave into a nationwide chain of stores. Shoes cost $28 for the shoes plus the custom printing. To-date the store generated $570k in sales and $150k in profit. The printers cost $55,000 and are patented.

Unfortunately Nick left with no deal.

Shark Tank Update – Ride On Carry On

Barbara signed a deal last season with the Ride On Carry On team. Before Shark Tank, their sales were $40k, in the six months after their episode aired, sales of the baby carrier has grown to $500k.

Pitch #2 – BarkEm’s

Blake St Clair was seeking $100k for 51% stake in Barkem’s, a mobile pet food container. Basically it’s a tv dinner for pets – Bark’ems is a way to easily feed your dog on the go. You pop the tv dinner into your bag and then when it is time to feed the dog, you pop out the Bark’ems and the dog enjoys the food. Barkem’s comes in three sizes: small, medium and large depending on the size of your dog. Mark Cuban called it a, “lunchable for dogs”. Kevin O’Leary questioned why a dog owner wouldn’t just put the food in a bag. Mark really liked the idea and could see pet food companies filling the product with food for sale. One important clarification, the deal is ONLY for the plastic case, not the food.

Unfortunately Blake left without a deal.

Pitch #3 -Brewer’s Cow

Steve Albert and his partners were seeking $125k for 15% of the Brewer’s Cow ice cream. The idea of the product is to combine beer and a premium ice cream. And in case you were wondering, the alcohol is removed during the ice cream process. Been in business for a year and sold $5,000 in ice cream after production. The team signed a small, initial deal with Whole Foods to put 50 cartons of the beercream into a store (this was a bit confusing as to the total value of the WF deal during the presentation).

Unfortunately the team left without a deal.

Pitch #4 – Go Go Gear

Go Go Gear is a product line focused on motorcycle enthusiasts. Desirée Estrada and her partner were asking for $300k investment for 15% equity. The clothing line offers fully protective gear for those who ride motorcycles and scooters.  The clothing is fashionable and not like a typical motorcycle jacket. Sales of the line last year were $172k. The team said that their plan is to enter Europe and the sharks hammered the pair of entrepreneurs that it was the absolute wrong strategy. Mark Cuban explained that you must babysit a business during the initial stages and you can’t go overseas out of the gate.

The sharks bashed the Go Go Gear team on their $2 million valuation. The two entrepreneurs came back with a new offer of $300k for 50% of Go Go Gear. The team moved the equity percentage to 65% for a $300k investment. Robert and Damond wanted to come together on a deal but at the end, Robert went out. At the last minute, Damond shook hands on a deal for $300k for 65% of the company. Pretty amazing how in under an hour, Go Go Gear moved from $300k/15% to $300k for 65%.

Below is a recap of the March 16, 2012 episode of the ABC show Shark Tank (episode 307). If you are unfamiliar with Shark Tank, the concept is simple – entrepreneurs pitch their ideas to a panel of investors and the investors have to provide at least the amount the entrepreneur is seeking for a deal to be completed.

The sharks appearing on tonight’s episode are: Mark Cuban, Barbara Corcoran, Kevin O’Leary, Damond John and Robert Herjavec.

Don’t forget to check out our previous Shark Tank recaps.

Pitch #1 -Tower Paddleboards

Stephan Aarstol was first up into the tank with his bikini model to pitch Tower Paddleboards. Stephan was seeking $150k for 10% equity in his company. He lost himself in the pitch – luckily Damond brought him back. Tower Paddleboards is a brand of standup paddleboards. Stephan explained that his strength is internet marketing and he owns 3 out of the 4 top Google slots for “standup paddleboards”. Barbara said Stephan was the worst presenter she’s ever seen. The company has $100k sales in 4 months – all online.

Kevin O’Leary offered Stephan $150k for 50% but Stephan declined Kevin’s offer. Mark suggested that this business was setup to flip and Mark offered $150k for 30% but Mark wants first chance to invest in future companies that Stephan creates. Kevin came back with $150k for 25% and in the end Stephan accepted Mark Cuban’s offer.

Shark Tank Update – Readerest Magnetic Glasses Holder

I don’t even need to talk about the update – I wrote about it as soon as the product hit QVC!  The Readerest magnetic glasses holder signed a deal with Lori Greiner earlier this season and then the next day they were live on QVC. Read my full post about the pitch and the day on QVC.

Pitch #2 – Instant Lifts

Next up was Nick and Penelope pitching Instant Lifts which are some clear tape with a formula to suck in areas on a women’s body to make them look good. They have $75k in sales in their first 4 months of operation. The issue from the sharks is that the duo has other products they are selling that are not part of the deal and the sharks worry that there won’t be enough time to make Instant Lifts successful.

Unfortunately Nick and Penelope left the tank with no deal. At least we learned the definition of Bingo Wings from Damond!

Pitch #3 – Vinamour

Gary DeJohn was up next with the Vinamour (the name may be spelled differently as it was never displayed on the screen) – a device you put in a wine glass to make the wine taste better using aeration. The Vinamour cuts overpouring costs for restaurants. Unfortunately Gary was unable to secure a deal with the sharks. Gary said in the endcap that he plans to sell the company in a year for $40 million and come back to laugh at them.

Pitch #4 – Miso Media

Last up was Miso Media and CEO Aviv Grill. I think this is the first company in the Shark Tank with a large venture capital round already ($3 million from various investors including Google Ventures. Miso Media won the Tech Crunch Disrupt 2010 SF Audience Choice Award. The company creates iPad apps for music education. Aviv was seeking $300k for 5% of the company.

I could be wrong but it appears that the show’s taping was before the $2.4 million Miso Media raised in September.

As of the time of the show’s taping, Miso Music, the first app has 35,000 downloads and $40,000 in sales.

Kevin offered $100k for 3.3% and Robert offered $300k for 10%, Aviv countered at $300k for 7%. Mark Cuban offered $300k for 8% and Aviv accepted.

Below is a recap of the March 9, 2012 episode of the ABC show Shark Tank (episode 306). If you are unfamiliar with Shark Tank, the concept is simple – entrepreneurs pitch their ideas to a panel of investors and the investors have to provide at least the amount the entrepreneur is seeking for a deal to be completed.

The sharks appearing on tonight’s episode are: Mark Cuban, Barbara Corcoran, Kevin O’Leary, Damond John and Robert Herjavec.

Don’t forget to check out our previous Shark Tank recaps.

Pitch #1 – The Original Profender

Tony Devin brought his creation into the Shark Tank seeking $75k/15% of the company. The Original Profender is basically a mock human that can be raised up or down/left to right by a basketball coach to help players learn how to shoot over a defender. The price of the Original Profender is $499.95.

Unfortunately Tony left the tank without a deal.

Pitch #2 – Nardo’s Naturals

The Mastranardo Brothers were up next with their line of organic skincare products under the brand name Nardo’s Naturals. The brothers were seeking $75k/12% of Nardo’s Naturals. When asked about sales, they explained that they have $30k in sales since 2009. Kevin O’Leary said there is nothing proprietary about the products and he didn’t care for the packaging.

Barbara Corcoran offered $75k for 50% of the business with the contingency that the brothers change the company name. The brothers accepted the deal – oddly, the company still uses the same name today so maybe the deal never came to fruition or Barbara backed down from her contingency requirement.

Update – Pork Barrel BBQ

Pork Barrel BBQ was on season 1 and signed a deal with Barbara for $50k. In the update they opened their full service restaurant in Arlington, VA. The 2 founders noted that they are sold in many stores nationwide and have had over $1 million in sales since their Shark Tank appearance.

Pitch #3 – Rent-a-Grandma

Todd was the third entrepreneur to enter the tank with his concept, “Rent-A-Grandma”. He was seeking %150k for 20% of the service. The concept is that instead of hiring a teenager to babysit, you can rent a grandmother. Todd noted that he has had $25k in sales YTD. Unfortunately Todd left with no deal from the sharks.

Pitch #4 – Litter Body Jewelry

Last up were sisters Rachel Mann and Mackenzie Burdick with their homemade jewelry business, Litter. They were seeking $80k for 51% of their business. They sold $78k last year and are on track for $150k this year.

Damond offers $80k for 70% of Litter and he will allow the two women to buy back to their original requested amount listed above and he will also pay them salaries. Mark Cuban joins into Damond’s offer and says he will handle the website and Damond will handle the production.

Kevin O’Leary offers exactly what Rachel and Mackenzie wanted with $80k for 51%.

Rachel and Mackenzie shake hands with Damond and Mark for the deal above but at 70% of the company.

Below is a recap of the March 2, 2012 episode of the ABC show Shark Tank (episode 305). If you are unfamiliar with Shark Tank, the concept is simple – entrepreneurs pitch their ideas to a panel of investors and the investors have to provide at least the amount the entrepreneur is seeking for a deal to be completed.

The sharks appearing on tonight’s episode are: Mark Cuban, Barbara Corcoran, Kevin O’Leary, Damond John and Robert Herjavec.

Read our previous Shark Tank recaps for February 10 and February 17.

Pitch #1 – Kisstixx

The first pitch of the evening came from Dallas Robinson and Mike Buonomo seeking $200k for 20% of their company. Kisstixx is a line of lip balms. The only offer came from Mark Cuban at $200k for 40% and the pair of entrepreneurs took the deal.

Last Season Update – Daisy Cakes

Kimberly Nelson pitched her Daisy Cakes and signed a deal with Barbara Corcoran. Since the show aired, Daisy Cakes has gone from 2000 total cakes in a year to $100k/month in sales. And Kimberly had to move the business to a much larger location.

Pitch #2 – The Smart Baker

Stephanie and Daniel Rensic came into the tank to pitch their kitchen product line called, The Smart Baker. They were seeking $75k/25%. The Smart Baker includes products like an apron with measurements on it to help when you need to cutup a recipe for smaller servings. Also included are their newest products — cupcake and tree towers.

Damond offered $75k/40%, Barbara offered the same but in addition she wants a 5% royalty on all sales until the $75k is paid back. Stephanie and Daniel countered at $100k/40% with 5% royalty but Barbara declined. After some discussion, The Smart Baker accepted Barbara’s original offer for $75k/40% with a 5% royalty.

Pitch #3 – Heat Helper

Lyle Chutey was up next with the Heat Helper. He was seeking $100k for 50% of his product. The Heat Helper is a unit that goes below an electric clothes dryer to recycle the hot air that comes out of the dryer to heat the laundry room. Unfortunately none of the sharks made Lyle an offer and he left the Shark Tank without an offer.

Pitch #4 – TEC

Last up into the tank was Scott Jordan with his product line TEC which stands for Technology Enabled Clothing. Scott was seeking $500k for 15% of TEC. You may have heard the name Scott Jordan before. Scott runs the company Scottevest which I believe is a line of vests that have compartments for gadgets. The deal Scott is seeking in the Shark Tank is for the technology/patents only, not a part of Scottevest. It’s interesting to note that the sharks talk about the products from Scottevest but never mention the name. Scott noted that the other business has $5.1 million in sales and is on track to hit $12 million in sales for “this year” (remember the show taped last year.

Mark Cuban went off about “dumbass patents” regarding “putting a wire through a piece of clothing”.  The same offer came from both Robert Herjavec and Kevin O’Leary – $500k for 15% of the “other” business. Scott left the tank to call Apple co-founder Steve Wozniak. Scott turned down the offers and left the tank saying, “I don’t need you”.

The latest installment of the ABC reality show Shark Tank hit the airwaves last night. You can read my full recap of the episode and all of my series recaps. Rick Hopper was the last entrepreneur on last night’s episode and he presented his creation, ReadeRest. The product is a magnetic clip for a shirt that holds a pair of eyeglasses.

Rick was seeking an investment of $150k for 15% of the company. Eventually he shook hands on a deal with QVC’s Lori Greiner for $150k for 65% of the company.

One of the interesting questions that surrounds Shark Tank is how long does it take from the filming of the show until the episode airs. Clearly there is some significant time between tape and air because the eyeglass holders have been on QVC since October 2011. My guess is that last night’s episode taped in the early summer of 2011.

This morning Lori presented the eyeglass holders, now called “Set of 3 Magnetic Glasses Holders by Lori Greiner” and the QVC host noted that about 15,000 orders were placed this morning alone. The item has 136 reviews and is “customer top rated”. Rick mentioned selling the holders for $10-20 each — QVC is selling a package of 3 for $25 including shipping.

Rick mentioned that he made all of the holders himself – Lori said this morning on QVC that the item is now made in a warehouse.

If you want to see how Lori presented the eyeglasses holder on QVC, click here then click the Videos link.

Lori talks up her QVC relationship on Shark Tank so it is good for prospective entrepreneurs to see her take a product from the television show to actually selling on QVC.