Pop it Pal Accepts $250,000 From Kevin O’Leary

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Bill and Summer Pierce entered the Shark Tank with family member Kayla Roof seeking $250,000 for a 10% share of their company, Pop it Pal. Pop it Pal is a product designed to entertain the millions of people who enjoy popping pimples without the side effects of scarring, additional acne and spreading bacteria. The silicone-based product comes preloaded with 16 pimples ready to pop. The filler in the pimples is an all natural beeswax which is refillable and refill solution is sold separately.

When Summer was off work following an injury, she and Bill were brainstorming as to how she could still contribute to their family’s bottom line without returning to her physically demanding job of nursing. They began to discuss the internet trend of watching people pop pimples, citing that this is seen as a major stress relief for many people. They began developing this product out of their house, have applied for a utility patent which is pending, and have currently produced 12,000 units. Pop it Pal has made $315,000 in the last 4 months. They sell each unit for $19.99 and they take approximately $8.32 to manufacture. The Sharks are concerned about their raw material and manufacturing costs being too high. They are working with an overseas supplier to get the cost down to approximately $5 per unit, however, it is still expensive because of the cost of silicone.

The Sharks are very impressed with their digital marketing numbers as their product video received 30 million views in its first 3 weeks. Their sustainable monthly run rate is 50,000 views. Pop it Pal has also seen a 44% success rate in their customers buying their upsell items at the checkout which is impressive to the Sharks. Although these values are impressive, the Sharks are struggling to understand their $2.5 million valuation. They explain that they have global demand and are struggling to keep up with the online retail demand for their product. They are projecting to end the year with $940,000 in sales.

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Kevin O’Leary makes Pop it Pal an offer because he said he understands their product and feels that he is the only Shark that has the creativity to grow their product line. He would like to see them add blood-like fillers as well as pus and color fillers. He offers $250,000 with a plan to receive $1.50 per unit until he has recouped $750,000. He will also own 5% share of Pop it Pal as a protection in the event that they would sell the company. Mark Cuban offers them $250,000 for a 25% share of the company. He feels that he could be a valuable asset in organizing there Chinese manufacturing and distribution. As both offers are non-negotiable, Pop it Pal quickly decides to take Kevin’s deal because they feel that he truly understands their market and can help them grow.

What do you think of Pop it Pal’s product? Would you purchase this product? Do you think they took the correct deal by choosing Kevin over Mark? Let us know what you think of this product and their deal in the comments below!

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For a full summary of this episode, check out this article. Shark Tank airs on Sundays at 9:00 PM EST on ABC.





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