Shark Tank: Blueland, MinusCal, The Baby Toon, and TaDah!

Entertainment / By


Season eleven of Shark Tank opened with a new guest Shark joining veterans Mark Cuban, Kevin O’Leary, Lori Greiner, and Robert Herjavec. Daniel Lubetzky, founder and CEO of global snack company, Kind, came to the tank to share his story and use his experience and financial support to find and partner with small startup businesses. Daniel left the season premiere securing his first partnership as a Shark with TaDah!, a frozen snack company inspired by middle eastern cuisine.

Modern Cleaning Company, Blueland, Secures a Deal With Kevin O’Leary

Co-founders Syed Naqvi and Sarah Paiji Yoo came to the Sharks seeking a $270,000 investment in exchange for 2% of their company, Blueland. After learning how many micro-plastics are commonly found in water, Sarah envisioned a company that would give consumers more environmentally-friendly choices in cleaning products. Blueland offers a series of cleaning tablets that easily dissolve in water and can be stored in reusable spray bottles. This can help reduce up to 5 billion cleaning product bottles per year.

The Sharks are impressed by their product and business model as they are currently selling direct-to-consumer but will be launching at a big box retailer next year. Sharks Daniel Lubetzky and Lori Greiner collaborated to offer Blueland $270,000 for 8% of the company. This would leave each Shark with a 4% share of the company. Kevin O’Leary initially offered Sarah and Syed $270,000 for 5% equity and 1% in advisory shares. Through negotiations, Blueland and Kevin O’Leary agreed to an investment of $270,000 for 3% equity. He will also receive a royalty of 50 cents per kit until he makes his money back.

MinusCal Leaves The Shark Tank Empty-Handed

Barrett Jaques and Crom Carmichael came to the Shark Tank in hopes of securing a business partner and investor in their product, MinusCal, in exchange for a $500,000 investment for 20% of the business. Their flagship products are snack bars and diet tablets that may help consumers lose weight by blocking fat absorption. The proprietary key ingredient is tea-based, all-natural, and clinically proven to help consumers lower their cholesterol and lose weight.

The Sharks are not convinced that the product can deliver the results that it is marketed for and the discussions between the Sharks and the entrepreneurs became very strained. Mark and Robert also became very frustrated when Crom’s presentation of the company does not match the marketing of the product. With the Sharks at odds with each other and with Barrett and Crom, they all decline to make MinusCal an offer and they leave the tank without a deal.

The Baby Toon Impresses and Inspires The Sharks

Ten year old, Cassidy Crowley, came to the Shark Tank to display her flagship product, The Baby Toon, but ended up leaving a lasting impression on the Sharks and securing a partnership with Lori Greiner. Cassidy developed the product as part of a science fair project in first grade. The Baby Toon is a silicone-based baby spoon and teether that is safe for children to both eat with and teeth on.

Cassidy came into the Tank with hopes of securing $50,000 for a 50% share of her company. Her impressive display of product knowledge wowed the judges and easily secured her a deal with Lori Greiner. Lori offered Cassidy exactly what she asked of the Sharks, $50,000 in exchange for 50% of the company. Cassidy accepted and is excited to partner with Lori so she can get back to focusing on school.

TaDah! Leaves The Tank With a Hard Fought Victory

Washington D.C. native, John Sorial, came to the Sharks seeking $300,000 for a 10% equity share of his company, TaDah! As a son of Egyptian immigrants, John wanted to bring the flavors of his heritage to grocery stores everywhere. TaDah!’s falafel inspired frozen culinary creations can be found in many grocery stores, however, they aren’t able to keep up with the demand for the product. After experiencing problems with their copacker, John is seeking an investor to help get the company’s head above water.

Although the Sharks are concerned that John only owns a 25% share in the company, they are impressed by his willingness to do whatever it takes to make TaDah! a success. Daniel Lubetzky offers John a $500,000 investment in exchange for a 25% ownership of the company. He would also be open to offering a line of credit to TaDah! but does not want to structure that into this deal. Mark Cuban also extends an offer of $300,000 and a $500,000 line of credit for a 20% share of the company. John decides to partner with Daniel and accepts his offer.

What was your favorite business on this episode of “Shark Tank?” Would you invest in any of these companies? Sound off in the comments below!

READ ALSO  ‘The Family’ investigates a secretive evangelical group – TechCrunch

Shark Tank airs Sunday at 9:00 EST on ABC.





Source link

?
WP Twitter Auto Publish Powered By : XYZScripts.com