Human Bobber
Last into the tank are Justin Rietema and Doug Schultz of Human Bobber, seeking $120,000 for 15 percent equity.
Human Bobber is a personal flotation device that can be used for both leisure and sports activities. According to their website, “the versatility of their devices draw from prior experiences floating in the water and enjoying life.” Products include the Scuttlebutt, Scuttlebutt Kayak Edition, Bottoms Up and Beverage Bobber and prices range from $17.99 to $89.99. Their “bottoms up” life jacket setup is designed to be worn on either the top or bottom of a person’s body, making it practical for a variety of situations.
In three years, they have done $63,000 in sales. Mark Cuban thinks demonstrating the products would be extremely difficult. Kevin O’Leary says he would definitely be a customer and offers $120,000 for 33.3 percent.
Lori Greiner thinks the product is very “clever” but finds it a bit too risky. Robert Herjavec views it as “a feature to an existing product” and encourages them to license it. He goes out, followed by Daymond John. Cuban says he wants another 10 percent on top of O’Leary’s offer but will not put in any additional money. O’Leary initially declines that proposition, but ultimately, the duo accepts O’Leary and Cuban’s offer.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.
Would you use Human Bobber? Sound off in the comments section below!
