Not too impressed with the products this week.
Idea #1: Surfset Fitness
Mike and Sarah created this surfboard/balancing board that one can do exercises on, do a group class with, they even use a professional surfer to demonstrate the product. They are asking for $150,000 for a 10% stake.
Mark offers $300,000 for a 33% stake – then reduces to 30%, Robert offers $150,000 for a 20% stake, Daymond offers $150,000 for a 25% stake, plus he will do all the manufacturing – Kevin joins in on this deal.
Mike and Sarah accept Marks offer.
Idea #2: AlphaM. Styling DVDs
Creator Aaron brings in one guy dressed sloppy, shows his DVD of how to match outfits, brings in a second guy dressed way nicer..all b/c of his styling help. He wants to sell 6 DVDS for $297. One, that is a crazy high price. Two, you have men who are too lazy to dress themselves and you think they will get up to order this and pay that amount? Aaron is asking for $50,000 for a 10% equity in his company.
Sharks didn’t make any offers…sent Aaron on his way.
Idea #3: eCreamery
Becky and Abby want to send ice cream as a gift, through the mail. The buyer can go on their website, design their own flavor and packaging and for $80 or more have it mailed. Each shark got a taste of the ice cream specifically designed for them. These duo has sold $2 million since 2007, problem high production costs and they already have an investor owning 70% of the company. Becky and Abby ask for $250,000 for a 33% equity.
Kevin offers $125,000 for 25%, asked for a partner, no one offered, he dropped out.
The girls were sent home empty handed.
Idea #4: CATEapp
Ever had a text, email or contact you wanted to hide from a significant other? Well, Neil knows this. He bought the rights to a cell phone application that blocks calls and texts. He is specifically targeting cheaters as he claims 80% of people cheat. He is asking for $50,000 for 5% equity. Barbara wanted the app to be about privacy, not the negative connotation of cheating.
Kevin and Daymond joined forces and offered $50,000 for 50% stake, Barbara offered $50,000 for 30% stake and changing the concept to privacy.
In the end, Neil, Kevin and Daymond settled on $70,000 for a 35% stake.