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00:01Tonight on Shark Tank...
00:03Introducing Benito Fish Foods.
00:05Oh, my God.
00:06This is going to be huge.
00:07What are your sales?
00:08We haven't shipped out yet.
00:09You haven't shipped any yet?
00:11Product was really impressive.
00:13Thank you.
00:13Your sales are not.
00:15You're quitting your job.
00:16I'm not going to let you make that decision.
00:18So we got it, Lori.
00:19No, you don't got it.
00:20I disagree with both these guys.
00:21What could somebody possibly come in with that we've never seen?
00:26Introducing Moonies.
00:36First in the tank is a modern twist on a premium delicacy.
00:49Hello, sharks.
00:50My name is Zoya, and I am the CEO of our company.
00:53And I'm Alex, and I'm the CEO of Our Life.
00:55We are from Los Angeles, California, here today,
00:58seeking $150,000 in exchange for 10% of our company.
01:02So, sharks, imagine this.
01:04You're headed to your local sushi joint for date night.
01:06You sit down at your table, eagerly awaiting your meal,
01:09and the waiter drops a plate in front of you.
01:11And you are met with a plate of...
01:14Mercury?
01:16Parasites?
01:16Ugh.
01:17Ew.
01:18And...
01:20Microplastics?
01:20Ew!
01:21This is not what I ordered.
01:23Ah, but unfortunately it is.
01:24This is the sad truth of a lot of raw fish that we consume in this country.
01:28So I decided to take matters into my own hands.
01:31Introducing...
01:31Finito Fish Foods!
01:33A plant-based seafood company made in the kitchen by chefs,
01:37and not in a lab by mad scientists.
01:39Our plant-based raw fish is made from a unique blend of organic root vegetables,
01:43sea algae, and...
01:44Fermentation magic!
01:46To create the world's best tasting, almost like the real thing version of tuna, salmon, and yellowtail.
01:52Plus, it's full of omega-3s, protein, iron, fiber, and none of the other junk.
01:57And because it cuts and handles just like real fish, it's easily adaptable for chefs to use it in our
02:03favorite dishes,
02:03like sushi, ceviche, poke, salmon and lox, a ton others, except that our fish is way cheaper and lasts way
02:10longer than the real thing.
02:11Plus, it's safe to eat for those advised not to eat real raw fish, like those who are immunocompromised, allergic,
02:18or pregnant.
02:19So, Sharks, who's ready to try the new catch of the day?
02:23With...
02:24Finito Fish Foods!
02:25Good job!
02:27Sharks, in front of you we have some samples of our spicy tuna crispy rice, some smoked lox, and our
02:33ceviche.
02:33Dig it!
02:34So no fish in this?
02:35No fish!
02:36But you might be fooled!
02:37Oh my God, it's so good!
02:39Thank you!
02:40It tastes great!
02:41Thank you so much!
02:42Thank you!
02:42Like really, really good!
02:43It doesn't just taste great, it really feels like marudo.
02:46So we're food people, and that's why we lean on...
02:48Like if you told me it was fish, I would've.
02:51100%.
02:51Yeah!
02:51Listen, if you guys think I'm gonna pay you to say that, I don't have enough money to pay you
02:54guys.
02:55Oh my God, the ceviche is incredible!
02:57I'm so glad you like it!
02:58Raw fish is a difficult protein, it's the most expensive protein, it is the least sustainable protein,
03:03so that's why I kind of tackled it.
03:05Tell us a little bit about your background.
03:06I've been working in social enterprise and doing biz dev for over a decade.
03:11However, I have a food background as well, I've done some private chef work.
03:14When I couldn't find the thing that I wanted, I decided to make it myself.
03:17And I actually have a food background.
03:19I helped build the world's largest food social network, BuzzFeed Tasty.
03:25If you remember any of those really quick cooking videos.
03:27Of course, I have the books!
03:28I have 10 years in content creation in the food space.
03:33Now collectively together we have 3 million followers in the food space, and we share cooking videos.
03:40Do you have a package that I can look at?
03:42So how we sell currently is B2B, so we sell frozen fillets, just like how you get regular fish fillets,
03:49to restaurants and caterers.
03:51There's not packaging per se.
03:53Why did you start B2B and what's your vision?
03:57So food service just made the most sense because I want people to have it prepared the right way.
04:01But what is the key piece on why you're not also providing a retail proposition?
04:07I don't have enough funding.
04:08What are your sales?
04:09Maybe some numbers would be good.
04:10Since we started actually selling to restaurants last year, we have sold $50,000 in only wholesale, only Los Angeles.
04:18We sell it per pound.
04:19It costs us just about under $4 to produce.
04:22We sell that between $10 and $13 wholesale.
04:25Actual sashimi-grade fish wholesale is anywhere from $20 to $40.
04:29So you're less expensive.
04:30Yes.
04:30You know, Zoya, there's something missing here.
04:32You talked when you came out, and I'm totally convincing.
04:34And yet, you've made the product and have not found a way to tap that demand direct to consumer.
04:40I don't want to sell restaurants.
04:41I don't want to sell, you know, wholesalers.
04:44Well, let's do B2C then.
04:45I would much rather you have the bigger vision, or at least me.
04:48Yeah.
04:48Because you know how few people walk in here and say, I've got three million followers?
04:54And you're not even tapping them.
04:56Shame on you.
04:58Mr. Wonderful.
04:58I'm out.
04:59I'm out.
05:00I'm out.
05:00I'm out.
05:00You are tapping them, just in a different way.
05:03Well, you're not.
05:04Well, they're not tapping on these sales.
05:06They're just not converting.
05:07They're not converting the way you'd want them to.
05:08The product was really impressive.
05:10Thank you.
05:11Your sales are not.
05:13I'm out.
05:15So, you know, listen.
05:17I don't think it's wrong you're going B2B right now.
05:19Because I think while you're doing that, you're slowly learning a whole hell of a lot.
05:23It's very early for me.
05:25I wish you good luck, but I'm out.
05:27Thanks, Lauren.
05:29Thank you so much.
05:30I don't mind the wholesale business, right?
05:32Because people who sell to restaurants, they can prepare this stuff or you can have, you
05:37know, you can have events where you bring people in and that works.
05:40But it's going to be really hard to scale to the size that, you know, justifies an investment.
05:44And so for those reasons, I'm out.
05:46Thank you so much.
05:47Who is your competition?
05:49Oh, yeah.
05:49There's basically two main other vegan raw fish brands.
05:53One uses food coloring, including white food coloring, which is banned in Europe.
05:57So that's a big no-no for me.
05:58The other one was actually a Silicon Valley-backed company.
06:01They were a food tech company that did not have, in my opinion, a single food person on
06:05board.
06:05If you squeeze the product, the juice ran out.
06:07Oh, my God.
06:07It doesn't taste good.
06:08They raised over $20 million.
06:10$20 million for a product that doesn't work.
06:12And Zora, why didn't you raise any traditional VC funding?
06:15Because I realized some fun facts.
06:18Only 2% of VC funding goes towards women.
06:21That number reduces to 1% if you're a woman of color.
06:23And then that number reduces again if you're also a gay woman of color.
06:26Those were really great odds for me.
06:28Well, the good news for you is you're in the shark tank.
06:31We don't care if you're gay.
06:32We don't care if you're of color.
06:33We care if you can make money.
06:35So here's where I'm at.
06:37On the plus side, the stuff tasted amazing.
06:40Number two, I actually do think it solves a problem that's a significant one.
06:45And Frozen is a tough space.
06:48It just greatly increases all the costs, all the headaches.
06:51This is going to be a lot of heavy lifting.
06:53It may feel a little bit sharky, but it's going to take a ton of time.
06:59$150,000 for 40% of the company.
07:30You know, that would kind of shoot us in the foot for any potential, you know, growth.
07:34And although I really value you, that would be really hard for me.
07:38So probably the most that I could do would be maybe 20%.
07:42You know, I don't have any skin in this game here, because I'm out.
07:45But you've got to think a generation from now, when you've got one of your kids on your knee,
07:50and you say, you know, I was once on shark tank, right?
07:54And they say, well, mommy, what happened?
07:57I was an idiot.
07:59I didn't take the deal.
08:00And that's why we live down by the river in a shack.
08:03These are sliding glass doors.
08:05Oh, my God.
08:06Walk through the other door.
08:08Thank God I didn't give up 40% of the company.
08:10We're killing it.
08:11And baby, you have your jet.
08:14You get a jet.
08:14You get a jet.
08:15And if we had listened to Kevin, we'd be in that shack.
08:18The most I could come down just because I really love your energy is 35%.
08:25Don't miss the moment.
08:26Ooh, he's coming down.
08:28If we could meet at 25, and I know that's asking a lot of you, but I really believe in
08:33this product.
08:34It really could go the distance with the right partner, but I need someone exactly like you.
08:38But I can't shoot myself in the foot and then be, you know, in a bad situation for future rounds.
08:43Damn, she's good.
08:44This is best in the final, it's 30%.
08:47Ooh.
08:48And out of 30%.
08:49Ooh.
08:49The moment.
08:50The moment.
08:53Ugh.
08:54Zoya, what are you gonna do?
08:58Shaq down by the river.
09:01Would you, for 30%, do...
09:06Nothing other than what I offered.
09:08It's my best in final.
09:09Let me, let me just one second ask the boss.
09:12Mm-hmm.
09:13Right.
09:14Do I live in the Shaq by the river?
09:16No!
09:17No!
09:18Oh, my God.
09:19You are never gonna wind up in a Shaq is what I should tell him.
09:22You never know.
09:22You're gonna do great regardless.
09:23They can't afford the one by the river.
09:27It's your good son.
09:28It's your good son.
09:30It's your good son.
09:37I think we should hook and reel in our new investor.
09:41Yes!
09:42Let's do it!
09:43Bring him in!
09:44Yay!
09:45Good job!
09:45We are so pleased.
09:46I'm so, so honored.
09:48Yeah.
09:49Congrats, guys.
09:50Thank you so much.
09:52Yay!
09:53Thanks, guys.
09:53Really appreciate it.
09:54Thank you.
09:55Thank you.
09:56Bye-bye.
09:56Bye.
09:57So I gave more equity than I was planning to originally.
10:00But for Daniel, it really is worth it.
10:02He has experience in the food space.
10:04And I just feel like he's the right guy to get us where we need to go.
10:07He's a big shark.
10:08He's a big shark.
10:08We were little fish and we wanted a big shark.
10:10Yeah.
10:10Now we're gonna go a lot faster with our big shark.
10:12Yeah.
10:12Let's swim.
10:13Time to swim.
10:14Time to swim.
10:16Let's go.
10:17In season 15, twin sisters Taylor Capuano and Casey Sarai made a deal with Emma Greed for
10:22their undergarment solution, Cakes Body.
10:24Reheasable, washable silicone nipple covers that adhere naturally to your body heat.
10:28Let's see what they're up to now.
10:30Emma's helped us build a path to becoming an iconic brand.
10:34Skims and Good American are defining how people are dressing now and Cakes is a perfect complement
10:39to that.
10:40Right now it's like, it's a big push up moment.
10:42Yeah.
10:43But that's not every day.
10:43So I would do like a level one, level two.
10:45Emma's helped us stay laser focused on boob solutions that help a variety of bodies.
10:50So happy to be in your delicious new office.
10:53In the year and a half before we pitched on Shark Tank, we had done about $2.6 million
10:57in lifetime sales.
10:58Since closing our deal with Emma eight months ago, we have done $47 million in sales.
11:03Ooh.
11:04Magnet.
11:05We attribute our success to not only Shark Tank and Emma, but also our ability to market.
11:10When you start scrappy, you have to get really creative and establish amazing organic
11:14content.
11:15Cakes is now the number one selling undergarment product on TikTok shop.
11:18We have one of the highest grossing stores and TikTok now brings in about 30% of our
11:22company's overall revenue.
11:24You've been through so much.
11:26What you want is for something to be easy.
11:28From the beginning, we've donated $1 per order to breast cancer research.
11:31And we're proud to say we have donated over a million dollars to these causes.
11:36To recognize Breast Cancer Awareness Month, we are hosting our first photo shoot dedicated
11:40to the breast cancer community, where we feature our newest product, Cakes with Nips.
11:44And the women that we are featuring in our photo shoot are customers who have gone through
11:47breast cancer and also helped with the development of this product.
11:50What Cakes has brought for me is confidence.
11:54And I look just as cute as everybody else.
11:56You know, what's so incredible about this company is we are defining an entire category.
12:00This is about creating a wardrobe for your boobs.
12:03As a female entrepreneur, I can't think of anything that would make you more proud to
12:06help a group of women that really, really need it.
12:10Nips!
12:10You know, when I first came on the show, Mark Cuban said to me, Emma, you know, you'll do
12:14one investment that will pay for all your other investments.
12:17This is mine.
12:18I am like bowing to the gods of the cakes.
12:22We are so excited about the growth we've experienced, and there are no signs that it's
12:26slowing down anytime soon, and we just are so excited to see where this thing can go.
12:44Next up is a futuristic way to grow a delicacy at home.
12:57Hi Sharks, my name is Jared Steele.
13:00I'm from Austin, Texas.
13:01I'm seeking $175,000 in exchange for 2.5% equity in my company.
13:06So Sharks, mushrooms have been blowing up in popularity.
13:09They're a culinary delicacy.
13:11They offer incredible health and cognitive benefits.
13:14But these mushrooms are hard to find at most grocery stores, and growing them yourself can be even harder.
13:19That's exactly why we created Terrish Room.
13:22Terrish Room is a fully automated mushroom growth computer that helps anyone, anywhere,
13:27grow lab-quality mushrooms with zero experience, right from the comfort and safety from your own home.
13:34You just turn it on. You fill up the water tank.
13:37You then place the ready-to-grow mushroom block inside the Terrish Room.
13:40You select the mushroom you want to grow in the app, and that's it.
13:45You have mushrooms growing, and this is a product that makes it simple and affordable for everyone.
13:51So Sharks, we'd love for you to join us and build something magical with us.
13:56Thank you.
13:57That's cool.
13:57They look like flowers.
13:59Jared, do you provide the mushroom with a...
14:02The grow chamber, the grow computer, yeah.
14:04So happy to talk about the business model really quick.
14:06So basically we have a printer and ink cartridge business model, right?
14:11So we sell the grow chamber for $399, and then on the back end we have a subscription where we
14:15sell these ready-to-grow mushroom cakes for $30 a piece.
14:18How much does this cost you to make?
14:20$158.
14:22$158?
14:22That's...
14:23Okay. And then what does a shroom block cost?
14:25$351.
14:26This is where we make a lot of cash.
14:28How long does it take for a grow block to become that?
14:31A fruiting bite.
14:32It depends on what you're growing.
14:34Some varieties, such as oysters, can grow in as little seven days.
14:37Some, like reishi, can take longer, up to six weeks.
14:40So a lot of people, they love them because they view it as a functional art piece.
14:44You know, with the mood lighting, the embedded time-lapse camera, this is something that they show off to their
14:49friends on social media, and it's a brag point.
14:51You're a mushroomologist.
14:53A mycologist, yes.
14:54A mycologist.
14:55Yes.
14:55You're a pretty bright guy, you can tell.
14:57Where did this come from?
14:58Yeah, so it started about seven years ago. I was in college. I was growing mushrooms in my dorm.
15:03Of course you were.
15:04Of course I was.
15:05And it was just something that I just had a natural interest in, and I decided I wanted to get
15:10into product building.
15:10So I bought some 3D printers, just figured out CAD modeling, basic microelectronics.
15:14And it started off as a weekend kind of hackathon project, and there was a lot of interest.
15:20And so, I mean, where we're at now is we have 6,500 paid customers.
15:246,500?
15:25Yes.
15:26And 22,500 people on the email waitlist.
15:29I just got back from Shanghai last week. We're rolling out mass production.
15:32You have 22,000 back orders?
15:3422,000 people on the email waitlist.
15:36Waitlist. What does that mean? What does that mean?
15:38They basically signed up to get like a small discount.
15:41Can you walk us through your sales history?
15:43Yeah. Terror Shroom started back in August 2022.
15:46I started running ads on Facebook.
15:49And since then, we've generated $780,000 in revenue.
15:54Total?
15:55Total.
15:55In a year and a half?
15:56We haven't shipped out yet. Yeah.
15:58Wait, wait, wait, wait, wait. You haven't shipped any yet?
16:01I just got back from Shanghai.
16:03So you said you sold 6,500 units.
16:05Pre-sales. Pre-sales. I'm sorry.
16:06Pre-sales.
16:07Oh, you didn't say that.
16:08Oh, I'm sorry. Yeah, yeah. I'm sorry. Pre-sales.
16:09You've taken 708,000 of pre-orders in two years
16:13and not shipped a single product?
16:16So I think I should definitely...
16:17You keep selling it without shipping stuff?
16:20Well, it's not horrible if they deliver.
16:21It's only horrible if they don't deliver.
16:22Yeah, let me clear.
16:23But it's been two years, Mark.
16:24Though they haven't collected money for two years.
16:26Yeah, he has.
16:27No, no, no. Here, let me clarify this.
16:29So we started Facebook ads in Q4 2022.
16:31We shut them off because what really happened was
16:34I had a prototype.
16:36I was told by a product development company that was like,
16:38oh yeah, we can get this done in a couple months.
16:39So I was like, sweet, we're almost there.
16:41I realized that was not the truth.
16:43So it was basically back to the drawing board.
16:44You can't even make a mold in a couple of months.
16:46Yeah, exactly, exactly.
16:47So what basically happened is I was like,
16:49I need to build a team that is on the cap table
16:51and like we are all in this
16:52and not just someone who's going to charge a per hour
16:55or a consultancy fee.
16:56But that was two years ago.
16:57Why haven't you shipped 50 of them or some element?
17:01Oh, I mean, well, quite frankly, we've over-engineered this.
17:06We didn't want to ship out hundreds and get a refund problem.
17:10When are you going to ship your 5,000 units
17:12and have them in the market?
17:13So we're going to have 1,140 units shipped
17:16to our Austin warehouse by July.
17:19Jared, look, I think it's cool, right?
17:22And if it turns out to work, it could be nice.
17:25But you kind of oversell.
17:27You're not there and ready to deliver yet.
17:29And that's a whole different level of uncertainty and terror.
17:32I can see it being great for you.
17:34So I'm excited for you.
17:35But for those reasons, I'm out.
17:37Thank you.
17:37Jared, I think it's beautiful.
17:39I think it's exciting.
17:40But I think your valuation is way, way, way off.
17:44And for that reason, I'm out.
17:46You're set. Thank you.
17:47I wish you the best.
17:48It's a beautifully designed product.
17:51You're a highly credible guy.
17:53But we had to ask you if you shipped any.
17:56You didn't tell us that.
17:58It always makes me nervous when I have to find out
18:01such a crucial fact and pull it out.
18:04I just can't get there. I'm out.
18:07Thank you.
18:07I love hydroponic farming.
18:09I think it's very cool.
18:10There's no pesticides.
18:11Exactly.
18:12It's safer.
18:13But this seems to me over-engineered.
18:16If it was simply something where you watered it, it could grow.
18:19It's got the light.
18:20Right.
18:21Without the camera, without the app, it would be a much simpler contraption.
18:26I wish you good luck.
18:27But I'm out.
18:29Hey, Lord.
18:29Well, all fungi lead back to Mr. Wonderful.
18:33I like the idea.
18:35I'm willing to take a flyer on it, but not at your valuation.
18:38I'll give you the 175.
18:40I go on the ride for 15%.
18:43Are you ready?
18:44Like, honestly, I don't think you're ready to take on an investor.
18:48Well, he can make a decision.
18:49Are you going to walk out of here without a deal?
18:52Or I become an investor and I put my team on it and we get you more orders than you've
18:58ever dreamt of.
19:01Why do you think 15%?
19:02It's just my intuition after doing deals for decades.
19:07If this works, we're going to have to raise a lot more money for inventory alone.
19:11Right.
19:12And so I'm willing to take that risk, but it's embedded in the valuation.
19:16Kevin, respectfully, we raised a lot more money at a much higher valuation.
19:22I totally respect that, but they are not me.
19:27I don't think you're ready to put the product out on the market, even if you're about to ship a
19:31thousand.
19:31He's got no choice but to put it out on the market.
19:33No, he does have a choice because he has a brand that he doesn't want to destroy.
19:36He doesn't have a brand yet.
19:36He hasn't shipped a unit yet.
19:38He's got 1140 coming that he's already spent the money on.
19:40Okay, so here's the worst thing that a person can do ever in the market.
19:44No, we got it, Laurie.
19:44No, you don't got it because you're going to invest in it and you don't even understand what's the problem.
19:47I'm willing to take that chance. I already talked about it.
19:49I'm going to be really honest with you.
19:51Sure.
19:51The biggest problem that a person making a product can do is putting it out on the market when it
19:57is not really ready.
19:58That is true.
19:59It can destroy you, your credibility, all the people that were behind you.
20:03And Jared, I'm willing to take that chance.
20:05It's not easy to fall and then get back up.
20:06Laurie, Laurie, we got it.
20:07I'm willing to take that chance and invest in you.
20:10You're so rude.
20:10$175,000 for 15%.
20:11I'll do that deal.
20:12I have no flexibility.
20:14What do you want to do?
20:16That is a number that it's absolutely not going to work.
20:19Kevin, I could do 5%.
20:20And let me tell you why because...
20:21No, you don't have to go any farther.
20:23I'm out.
20:23Thank you, Jared.
20:25Thank y'all.
20:26Good luck, Jared.
20:27Good luck, Jared.
20:31You know, the Sharks, they're amazing.
20:32They offered a lot of really good feedback and advice.
20:35I turned down Mr. Wonderful's offer because he really overstated his value.
20:40And given the terms that he was offering, it absolutely did not make sense for us to go forward with
20:44that deal.
20:57Next up, innovative swimwear for guys that want some extra attention.
21:10Hi, I'm Carissa Winkle.
21:12And I'm McKay Winkle.
21:13And we are the founders of Moonies.
21:16Today, we're seeking $150,000 in exchange for 35% of our company.
21:21Sharks.
21:22Why do girls get to have all the fun in swimwear?
21:25We have so many styles and cuts to choose from.
21:28One-piece, tankini, bikini, halter, strapless, push-up, thong, cheeky.
21:33We have so many ways to show off our curves.
21:35We can bare our butts, our cleavage, and be as playful as we dare to be.
21:39But men's swimwear, we've been stuck with the same basic designs for decades.
21:44Baggy board shorts are boring, unflattering, and definitely don't turn any heads at the beach.
21:50Ha!
21:51We say...
21:52No more!
21:53Introducing Moonies!
21:56Moonies are a super comfortable men's swim brief to bring something brand new and totally unique to men's swimwear.
22:03Finally, cleavage for guys!
22:11Moonies are the funnest swimsuit you'll ever wear.
22:14Our cutout in the back allows your beautiful cheeks to make their long-awaited public debut.
22:19Moonies turn heads, and they make people smile.
22:22Whatever or wherever the situation may be, it's more fun in Moonies.
22:28From volleyball...
22:36To yoga!
22:37Wow!
22:41To manning the grill at your company barbecue.
22:44Don't burn those buns!
22:46Moonies makes any moment unforgettable.
22:50Oh my God, you got a pointer?
22:52We have a soft waistband, a supportive pouch in the front, and of course, our patented cutout in the back
22:59that shows your derriere some air.
23:01Oh my God.
23:03So, Sharks, who wants to take a crack at Moonies?
23:07I'm just a little concerned that some men have a little hair on their heinies.
23:13I mean, is the hole really patented?
23:15The hole is patented, so we received our patent granted less than a month ago.
23:20Is it a design patent or a utility?
23:23It is a design patent, right?
23:24It is a design patent.
23:24After 16 years, I thought, what could somebody possibly come in with that we've never seen?
23:32How did this come about? Like, where did this come from?
23:35Years ago, some friends and I, we went down to Lake Powell, and part of that trip was a Speedo
23:41competition that was mandatory for the guys.
23:43So, I just had this idea, and what I did, I just cut a hole out of the back, and
23:47nobody had ever seen anything like it.
23:49It was unique. It just brought the house down.
23:52Needless to say, I won the competition.
23:54How many of you sold?
23:55So, it's always been kind of a side project, and just thinking that this could get knocked off so quick
24:01and mass-produced,
24:02we started kind of our patent process just to protect.
24:05Less than a month ago, it actually got granted.
24:07So, have you guys not sold any? You're not selling yet, or...?
24:10This is our big launch.
24:11Yeah, so we've sold about $1,000 is all.
24:14$1,000?
24:16Where did you sell that?
24:16Right, and that's fine. He said, they're just this year of launch, yeah.
24:18So many people have been asking us, how can I get one? How can I get one?
24:21And we said, okay, fine, we'll make a very small badge.
24:23What do you sell them for? What's it cost you to make?
24:24So, we sell them for $40 on our website. They cost about $12.50 each.
24:28With a bulk order, we can get them close to $9.
24:31Are you doing any social media?
24:34Yes, but we've been trying to keep it quiet until our patent came through.
24:38Look, guys, I agree 100% with you.
24:40There is a market for it. The question is how big.
24:43Your ask is reasonable, right?
24:45You're not asking for a number that requires it to be a $100 million market.
24:49But there's only so much you can do with it.
24:51I just don't see it as a fit for me, so for those reasons, I'm out.
24:54Totally. Thank you.
24:55Have you done any type of research to know if people would really like and buy this?
25:02Real life, we take it out to the beach as often as we can, and we get people's feedback.
25:06And let me tell you, we cause commotion.
25:10People were running up wanting selfies, wanting to know where we can get it.
25:14Okay, but wait. Cool pictures don't mean I'm buying.
25:17They just mean this is funny and fun.
25:19Did anybody say, where'd you get those? I want a pair.
25:23Yes. Absolutely.
25:24A woman came up to me and said, my husband would love to wear this.
25:28Did you sell her one?
25:29One woman.
25:29I didn't have one on.
25:31Clarissa and Mikael, listen.
25:32You're still not developing the hustle necessary.
25:36When you see those people, take their phone numbers, follow up, call them.
25:39Like, for you to become successful, you need to see every one of those moments as an opportunity for you
25:45to follow up on.
25:46And I am not convinced about your grit.
25:49So, well, I think eventually you're going to figure out for those reasons I'm out.
25:54Thank you, Daniel.
25:55Yeah, Mikael, I think, you know, nothing sells itself.
25:58I love the idea that you love it so much, you want to protect it forever.
26:03I just can't get behind it.
26:05I'm sorry, I'm out.
26:08Thank you, Rob.
26:09Shark Tank, we're in our 16th season.
26:11We've seen everything.
26:12We've been in every category.
26:14So you thought.
26:14Every sector.
26:15My thought is it's a great product that should be attached to Rounder Bum.
26:20You know, Rounder Bum, over the years, has proven itself to be extraordinarily successful using social media for distribution.
26:26They've been around for years.
26:27So why wouldn't they branch out of it being Rounder Bum to being for all?
26:30Can you explain to us what is Rounder Bum?
26:31Rounder Bum is apparel for gay men that augments various body parts, whether it's the rear end or whether it's
26:39bigger pecs.
26:40This is perfect for Rounder Bum.
26:40It's a Shark Tank legend.
26:41But my point is, it took them years to get the manufacturing and distribution nailed out.
26:47I mean, why don't you just sell me the patent?
26:50Yeah.
26:51You came up with a great idea.
26:52You got it on Shark Tank.
26:53Everybody thinks it has merit.
26:56So I'll buy the patent.
26:57100% ownership for $150,000.
27:01So this is our baby.
27:02We want to ride this till the end.
27:03This has huge potential.
27:04Don't you want to see your baby on every ass?
27:08We also want to feel the impact in her pocket.
27:10Kevin, more than just Rounder Bum, think about the women's swim bottom apparel industry.
27:15You could sell this.
27:16We could license this to any successful...
27:17For women.
27:18For women.
27:19Our company's worth much more than $150,000.
27:22Apparently not, because no one else is making an offer beyond me.
27:25I think Lori's with me.
27:26Lori's...
27:27I'm feeling you.
27:27Well, let's see her write a check.
27:28Lori...
27:30Here's where I'm with you.
27:32I actually think this is really smart.
27:35A lot of men will really like it.
27:37I think that my friend Kevin here should give you more money for it.
27:41Are you making an offer?
27:42Because it's worth more.
27:43That's very interesting, Lori.
27:44But I don't give a what you think.
27:46I made an offer.
27:47Lori, let's get this into the women's swimwear design.
27:51Guys, I'm sorry.
27:53I'm out.
27:55Thank you.
27:58Listen, I have no flexibility.
28:01What do you want to do?
28:02It just kills me that we're losing so much money.
28:05Losing?
28:06You're making $150,000.
28:07This is going to be huge.
28:09Um, Kevin...
28:10Listen, you know what you should do?
28:11Put one of these on each of your heads and talk through the hole to each other.
28:14I'm not kidding.
28:15Kevin, if we sell you the patent, 100% of it, for $150K, can we have a $5 royalty on
28:21each one?
28:22No.
28:22No.
28:22No, I'm putting...
28:23Listen.
28:23That's the way to do it.
28:25Kevin, give them back some royalty so that they feel like they haven't lost their baby,
28:30they're still in it.
28:31Let's be clear of what I'm doing here, okay?
28:33I'm going to own the patent.
28:34It's going to be my patent.
28:35You came up with it.
28:36I paid you $150,000 for your idea.
28:38Now, maybe I'll fail and I lose my $150,000.
28:41What do you want to do?
28:42You know exactly what I want.
28:45Let's take a second.
28:47Go ahead.
28:57So, with 100% of $150,000, I think we're a solid no on.
29:02If you could go up to, we'd sell the whole thing for $500,000.
29:06Otherwise we would want either a royalty or some piece of it.
29:10Você não está sendo unreasonable, mas a resposta é no.
29:15Obrigado, Kevin.
29:17Gente, você tem que acreditar que você tem que ter essa pusha a push.
29:22Obrigado, gente.
29:23Obrigado, gente.
29:23Foi uma honra de ser aqui.
29:24Obrigado, gente.
29:25Obrigado, gente.
29:25Obrigado, gente.
29:25Obrigado, gente.
29:26Obrigado, gente.
29:26Obrigado, gente.
29:26Obrigado, gente.
29:26Obrigado, gente.
29:28Eu acho que Kevin é apenas como o outro shark say que ele é.
29:32Eu acho que ele é muito bom de ir embora de isso porque eu não gostei como eu não gostei
29:35com zero flexibilidade.
29:37e, assim, no cooperação para compartilhar o que nós criamos.
29:42Ele era greia. Ele queria cortar a deal.
29:44E, assim, para ter soldado, eu acho que eu teria regretado isso por um longo tempo.
30:01Next into the tank is a personal way to keep warm.
30:14Hi, Sharks.
30:16My name's Ashley, and I'm the founder of 1920.
30:19And I'm Zach, the COO of 1920.
30:22My wife voluntold me for this position.
30:24That's right.
30:25And today, we're seeking $250,000 for a 10% stake in our company.
30:31Sharks, we're revolutionizing the way that you wear your clothing.
30:34At 1920, we've created multifunctional, convertible clothing, perfect for everyday life.
30:41At first glance, it may look like I'm wearing an extra cozy, super stylish puffer jacket.
30:48Give it up for my amazing wife.
30:52But it actually converts into so much more.
30:56Check this out.
30:57At an outdoor concert and in need of a blanket, simply unzip the bottom of the jacket, and voila, you
31:03have a blanket.
31:05Or at the airport facing excess baggage fees, no problem.
31:09This blanket actually converts into a tote bag.
31:14And this tote bag can carry up to 40 pounds.
31:19Hey.
31:19Perfect for my lovely wife who has no idea what the words pack light mean.
31:24It's true.
31:25I don't.
31:26Our jackets are perfect for so much more other than travel.
31:29Take it to the farmer's market, the gym, the laundromat, and you have an instant bag without needing to give
31:36up the warmth of your jacket.
31:37Our windbreakers also have convenient convertible features.
31:41That's right, Sharks.
31:42This windbreaker has a convertible hood.
31:45When you zip it off and you zip the sides together, it turns into a crossbody bag.
31:50Get hot during the day?
31:52Simply take your jacket off, place it inside of your crossbody bag, and now you have a travel pillow.
31:59Our convertible clothing adapts to your busy lifestyle instead of you needing to adapt to it.
32:04So, Sharks, who's ready to invest in the only jacket you'll ever need with 1920?
32:10That's pretty clever.
32:11That's really clever.
32:12Is your background in design?
32:14My background is not in design.
32:15I actually have a background in supply chain.
32:18I was a logistics officer in the Army for nine years.
32:21You were?
32:22So, yes.
32:22Thank you for your service.
32:24Thank you for your service.
32:24Thank you.
32:25Thank you.
32:25It's so heavy.
32:26Yes.
32:27We've completely funded the company by ourselves.
32:30I look good.
32:31Your legs are very good.
32:33You look amazing.
32:34Is that camouflage?
32:36Is that like the hunter, the sporty, like the camouflage?
32:38So, that's an orange camo design, and each of you Sharks have a...
32:42If I saw that in the forest, I'd shoot it.
32:44Kevin, you can't see me now.
32:47Zachary, what is your background?
32:49So, my background, I work for a major U.S. airline in a variety of roles, operationally
32:54and customer focused.
32:55We make the perfect team because Ashley does 90% of everything, and I'm the 10% of handling
33:01our operations fulfillment and ensuring that our customers have the highest level of service
33:05possible.
33:05All direct to consumer?
33:06All direct to consumer.
33:07And what would this retail for?
33:09So, that one right there retails for $298.
33:12$298.
33:12Yes.
33:12What does it cost you?
33:13It cost us anywhere from $65 to $70.
33:17How do people know about you?
33:18Exactly.
33:19So, we are very viral on social media.
33:22Our first video that we posted of this jacket was in New York City, and it got 66 million
33:27views.
33:27Whoa!
33:2966 million?
33:30Wow.
33:31Do you have sales?
33:32So, we started December 2022.
33:34That was our first month of selling.
33:36We did $78,000 in sales.
33:38All of 2023, $269,000.
33:41And year to date, we're at $157,000, so about $505,000 lifetime sales.
33:46There's a disconnect.
33:48$78,000 one month, 66 million views.
33:51No, they just had a big breakout in social media.
33:53Well, it's production limitations, right?
33:55So, we fund every single batch that we do, and we were not able to fund anymore.
34:00We've only done maybe four drops.
34:02So, you do basically one drop per quarter?
34:05That's all we can afford, one drop per quarter.
34:07But you take the money that you make from each sale, and you roll it right back in.
34:11Every time.
34:11That's good.
34:12And that causes us to be behind, though.
34:14Do you sell every dropout?
34:16Every drop we sell out.
34:17Are you profitable?
34:18Yes, we are profitable.
34:19Out of the $505,000 of lifetime sales, we've made $97,000.
34:24Wait a second.
34:25What about this year?
34:26We're projecting $750,000.
34:28Ashley, if you do the $750,000 in sales, which is kind of geometric growth, and I hope that
34:33happens, how much free cash will you make off that?
34:36So, out of that amount, we are projected to do around $350,000 in just net benefit.
34:43With us being able to go ahead and order now.
34:45Have you paid yourselves anything in that equation?
34:47We do not pay ourselves.
34:48Yeah.
34:49Go ahead.
34:49Yeah, I know.
34:50We have not paid ourselves a dollar.
34:51So, guys, the numbers aren't adding up.
34:53If you had made $97,000, and you're not paying yourselves anything, you should be able to buy
34:58a good 1,000 units, right?
35:00Where did the money go?
35:01That's what I can't figure.
35:02So, the money has went into R&D.
35:04It's went into our patents, right?
35:06Because I actually put-
35:07Well, then you did make $97,000 of profit.
35:09You might have made $97,000 in gross margin dollars.
35:12Right.
35:12If you made $97,000 in profit, you would have cash.
35:16A good portion of our profit has gone into shipping.
35:19We've spent upwards of $15,000 just to ship.
35:23But, guys, so you just made a comment that is very telling.
35:26First, you said you made $97,000 in profit, and then you just said $15,000 of your profit
35:32went to shipping.
35:33The shipping comes before your profit is calculated, right?
35:37The number is after you include all your costs.
35:40That's where your profit comes from.
35:41One of the biggest challenges is fully understanding accounting and managing your cash flow.
35:46Because you want to say here that you've made $97,000 because it sounds good, but in reality,
35:51you didn't make more than $82,000, and it's probably a lot less than that, right, when you
35:54calculate everything.
35:55So I wouldn't say that.
35:56We actually work with financial consultants.
35:58Well, then you have to better understand it.
36:00But you have to connect with somebody that can walk you through so you understand the
36:05impact on your business.
36:06Because you guys don't have that in place right now, for those reasons, I'm out.
36:10Thank you, Mark.
36:11Thank you, Mark.
36:11So you've mastered social media, it sounds like, because you're only selling direct.
36:15Have you calculated your customer acquisition cost?
36:18It's zero.
36:20Yeah.
36:20So we do no paid media?
36:22No, we don't have money for paid media.
36:24Yeah, we have not spent $1 in paid advertising at all, but it's been something that we say,
36:29hey, when we get this money in, we want to take it to purchase more inventory to be able
36:33to sell.
36:33You guys are a very interesting situation, because it's not really a full-time gig.
36:36It's a product turning into a brand, but you're not 100% committed because you've got
36:41other jobs.
36:42Well, I wouldn't say that.
36:43Up until this point, I've been...
36:44I think that sounds fair.
36:45Yeah.
36:46Ashley and Zachary, I have to say I disagree with both these guys so strongly.
36:50You guys have earned the right to be on the carpet.
36:53The only reason why I'm really, really sad that I'm not moving forward is just because
36:58of the competitive environment.
36:59I have to just tell you that I'm out, but don't give up because you're going to do great.
37:03Thank you.
37:04Thank you, Daniel.
37:04And I will just say that from the outside looking in, I've supported my wife and watched
37:11her every single day work 10 to 12 hours and then go work six to eight hours every single
37:16night on her business to do everything.
37:18I think that's really great, except I'd rather have her working 25 hours a day for me as an
37:23investor.
37:23Well, I also think that's crap and it's unfair.
37:26Why is it unfair?
37:27I started my first business.
37:28I didn't know if it was going to work.
37:29I had to work a full-time job for six months.
37:32Yeah, because Kevin doesn't understand these things.
37:34Well, wait a second.
37:34What he has to say doesn't even matter.
37:36No, look.
37:37It's my money.
37:37What's that, Lori?
37:38I want to.
37:39You're asking me for $250,000.
37:41I'm looking at it this way saying none of my CEOs have part-time jobs.
37:45They work 100% of the time for the business.
37:47And they work 100% of the time, but they don't work as much as I do.
37:50Boom!
37:51I'm tired of the kumbaya stuff and how hard you work and all that.
37:54This is real business, okay?
38:06Two sharks are out.
38:08Kevin is concerned that Ashley and Zachary are not full-time on their convertible coat business,
38:1319-20.
38:14This business has potential because it has zero customer acquisition costs.
38:18I like that a lot.
38:19I'll give you the $250,000 for 30%, but you're quitting your job, and you're going to work
38:24110% for this business.
38:25Thank you for your offer.
38:27We will consider it.
38:28No one's more focused than me.
38:30The reason my wife is working is because I initially went to do pilot training.
38:36And my dream, my lifelong dream is to become an airline pilot.
38:39And while I was going through pilot training, she started her business to help supplement
38:43our income.
38:44And the business blew up further than we could ever imagine.
38:47And it came to a point where the decision was being made.
38:50Am I going to continue to work hard to support Zach in this endeavor?
38:54Or am I going to go full into the business and just focus on that alone?
39:00And I was like, I'm not going to let you make that decision.
39:02So I went back to work and put my dream on hold so that she could...
39:07I'm telling you, if you make the decision to invest, Ashley is the most scrappy, the
39:13hardest working person you will ever have on your team.
39:16And the most loving.
39:17You guys are a team.
39:19You do what you do to get the business going.
39:21If that means working a job or two jobs and working 24 hours a day, you do it.
39:26I can list the 20 problems you have with your business.
39:30And there's probably 40 things you need to learn more about your business.
39:35But there's magic.
39:36You strike me at the kind of people that you're going to figure it out.
39:40I'd love to be in business with you.
39:41Because I think you're going to succeed.
39:43And I think I can help you.
39:45I will give you the $250,000.
39:49I want 25% of the business.
39:52That's my offer.
39:53Thank you so much, Robert.
39:54Thank you.
39:55Are you willing to do $250,000 for 20%?
40:00I'm going to stick at 25%.
40:02You've got the other offer at 30%.
40:04The only thing I'm thinking is, like, we love Robert.
40:07And I'm thinking, like, I...
40:10You don't love him enough, it sounds like.
40:12I wish my mom would be able to see this.
40:17Aw.
40:20Ashley's mom passed when she was only eight years old.
40:23And Ashley and I, we're high school sweethearts.
40:26And we've literally climbed to where we are now together.
40:30We've started in Big Tale.
40:31We've moved into corporate roles.
40:33You're doing amazing.
40:34We've been ultimately scrappy.
40:37And so to be here just, it's just a dream, honestly.
40:41It's a dream.
40:42You know, people always, uh...
40:47I didn't have a lot growing up.
40:49But I had a mom who believed in me no matter what.
40:54And that made me believe in me when nobody else in the world ever did.
41:01That's why I'm sitting here.
41:04And you have that belief.
41:06And you've got an incredible partner.
41:09You're an incredible team.
41:10And you can build on that confidence and sit in this chair one day.
41:15Why are we squabbling about 5%?
41:17We're not.
41:19250,000.
41:2125%.
41:22Let's build something great.
41:27We'll take it.
41:28Yay!
41:29Boom!
41:31Congrats, guys.
41:33Well done.
41:33Congrats, guys.
41:34Great job.
41:35Thank you so much.
41:37Thank you so much.
41:38Good job.
41:39Good job.
41:40Don't listen to him.
41:41Thank you.
41:42Congrats, guys.
41:43Well done.
41:44I'd rather have 70, 72% of someone.
41:47than have 100% of nothing.
41:50We came to make a deal.
41:51You're the best.
41:521920 is going to take over.
41:54Just watch.
41:55Just watch.
41:56Kumbaya, kumbaya.
41:58It's not 2012, Kevin.
42:00I tell you.
42:01Not everybody can spend $150,000 on a watch.
42:05Some people need to make a living.
42:07Kumbaya, kumbaya.
42:07I have a job somewhere else and I'm a pilot.
42:09I don't have much time for these jackets.
42:11But kumbaya, kumbaya.
42:14That's how I think about it.
42:18Kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya,
42:31kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya,
42:34kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, kumbaya, k
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