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Four businesses, Cubicall, Doughp, Saucemoto, and Deskview, entered the Shark Tank hoping to secure an investment and partnership with one or more of the Sharks. Three businesses would prove to be successful in their efforts while one company left the Shark Tank without an offer.
Cubicall Lands a Deal With Barbara Corcoran
Nick and Anthony Pucci are seeking $350,000 for 10% equity in their company, Cubicall. While an open floor plan in an office can be great for collaboration and cutting costs, most employees are less productive because of it. A lack of sound and visual privacy is one of the biggest strains on employee morale. Cubicall is a modern phone booth for offices that focuses on the four pillars of privacy needs: audio, visual, territorial and information. The product ships flat and can easily be assembled in even the most space-conscious offices.
Are these privacy phone booths ready to become public? #SharkTank #Cubicall
— Shark Tank (@ABCSharkTank) May 6, 2019
Cubicall has sold approximately $500,000 of product in the last 12 months through direct sales efforts. Because their margins are so thin, they are unable to sell through distribution while remaining in an appealing price range. Although the market potential justifies the need for this product, the Sharks are concerned that this is a highly competitive market that already has 4 main competitors. They worry that someone could steal their design and undercut their margins. Despite concerns, Cubicall receives offers from both Kevin O’Leary and Barbara Corcoran. They ultimately decide to partner with Barbara Corcoran for an investment of $350,000 in exchange for a 25% share of the company.
Doughp Impresses The Sharks But Fails to Strike a Deal
San Francisco’s first cookie dough bar, Doughp, is serving the nostalgia of eating cookie dough by the scoop. Owner and operator Kelsey Witherow came to the Shark Tank seeking $450,000 in exchange for 10% equity of her company. This millennial brand is serving over 20,000 customers each month in their single brick and mortar location. The Sharks are impressed by the branding and creative product naming as well as by Kelsey’s operational skills. In the year and a half that Doughp has been in business, they have earned $850,000 in sales through direct sales with incredible margins.
Does this cookie dough have what it takes to make a doughp deal? #SharkTank #Doughp
— Shark Tank (@ABCSharkTank) May 6, 2019
Although the Sharks think that she is an amazing business owner and one of the best business operators that has ever been in the Shark Tank, they are concerned that her valuation is way too high. The Sharks are also concerned that the product would be going against their beliefs in healthy eating and getting a handle on the obesity epidemic in America. Because of these reasons, the Sharks decline to extend Doughp an offer, but look forward to their continued success and growth.
Saucemoto is Everything The Sharks Didn’t Know They Needed
Longtime friends and inventors of Saucemoto, Tony Lahood, William Moujaes, and Michael Koury, came to the Shark tank in hopes of landing a strategic partner willing to invest $45,000 for a 15% share in their company. The idea for Saucemoto was born after sauce from a drive-through restaurant was spilled in Tony’s brand new car. They specially designed the Saucemoto to clip to a vehicle’s air vent and hold sauce from a variety of major fast food restaurants.
Fries or nuggets? #SharkTank pic.twitter.com/enOW9mp9Sc
— Shark Tank (@ABCSharkTank) May 6, 2019
Although the Sharks are initially skeptical of the product and business potential, they begin to see the opportunity to market it as a promotional product or an upsell through drive-through restaurants. Saucemoto would like to land a Shark that can help point them in the right direction to continue to expand the sales of their product. Multiple Sharks offer investment opportunities, but Saucemoto decides to accept Kevin O’Leary’s deal for $45,000 for a 25%, equal partnership, share.
Deskview Partners With Kevin O’Leary
In the age of glass office structures, Jason Grohowski and Mike Bolos have created a standing work station that attaches quickly and easily to internal and external glass walls. Each standing station is overengineered using suction force and aerospace grade aluminum to easily hold office equipment. Because the desk is portable, it can be easily moved around the office as well as added to consumer and retail spaces such as coffee shops.
Can this minimalistic desk stand up against the sharks? ️ #SharkTank #DeskView
— Shark Tank (@ABCSharkTank) May 6, 2019
The Sharks like the design but are concerned that the price is too high. They also have varying opinions on if the product should be sold direct-to-consumers or B2B through distribution. Lori Greiner and Kevin O’Leary both extend offers to Deskview, however, Jason and Mike are more comfortable with Kevin’s offer because they don’t have to surrender as much equity. Deskview accepts Kevin O’Leary’s offer and is excited to work him to guide their company strategy moving forward.
What did you think of the businesses on this episode of the Shark Tank? Would you invest in any of these companies or buy their products? Start the conversation in the comments below!
Shark Tank airs Sunday at 10:00 EST on ABC.