ENTREPRENEUR: Bruce Gaither
PITCH: NO FLY CONE
ASKING FOR: $25k for a 15% stake
Bruce brings his dog, Biscuit, into the tank to demonstrate his non-toxic, cone-shaped flytrap that is placed over a natural attractant—that would be dog poop. The flies flock to the doggie doo and get caught in the inside of the cone. Bruce has a pal pop into the tank. It happens to be 2013 Oscar host Seth MacFarlane who is also the voice of many of his Family Guy creations. He’s there as a show of support for the guy who gives him horse riding lessons.
DO THE SHARKS BITE? When Kevin goes out immediately, Seth tells him he’s not a very nice man in his famed Stewie Griffin voice. Mark says he has no connections in this area, so he’s out. He’s also not happy that Seth picked on his Landmark Theaters with an earlier Stewie comment. Daymond goes out, too. Lori commends Bruce for coming up with a solution to a problem. The problem for her is the way that it works. It’s a personal turn off. She’s out. As much as Robert loves Family Guy, he can’t invest either. Sadly, the No Fly Cone just didn’t fly with the sharks. Stewie will be devastated. Let’s hope he doesn’t take it out on Lois.
WANT TO KNOW MORE: Visit http://www.noflycone.com
Update: NAIL PAK
Entrepreneur Barbara Lampugnale made a deal with Lori during Season 3 for her multifunctional nail polish kit. Since appearing in the tank, Barbara and Lori took the product to UltaBeauty where they make a deal to carry Nail Pak in their 500 stores across the country and online. Six weeks later, they see the product physically on store shelves. Barbara says that Shark Tank has sincerely made her dreams come true.
ENTREPRENEUR: Ginelle Mills
PITCH: COOL WAZOO
ASKING FOR: $65k for a 25% stake
Ginelle created her product after her young daughter got burned on a swing. The product is a cover that redirects heat back to its source while serving five different functions. It is a swing cover, high chair cover, shopping cart cover, car shade and a changing pad all- in-one. The product has been seen on The Today Show. She got a lot of orders after that, but 85% of her inventory had to go back to the factory due to defects. She was later on The Doctors where she gave away her product to the studio audience for free. She’s had $20,000 in sales over the last 12 months, but has had no inventory. She’s moving her manufacturing overseas because it costs $30 to make just one. It’ll be a little over $11 to do it in Hong Kong.
DO THE SHARKS BITE? The sharks are shocked to learn that Ginelle has lost about $96,000 with her venture. Robert thinks Ginelle is on a long road, but he doesn’t want to join her on the journey. Kevin wants to know how he’s supposed to know what this product is. He’s out, too. Daymond doesn’t feel he can add any value here, so he’s out. Lori thinks Ginelle is great, but this product won’t be her hero in her future. Mark can’t give her money to help with her learning curve.
THE RESULT: The fact that all the sharks are out reduces Ginelle to tears. She’s worked so hard on this product. Her story touches Lori to the point where she comes back in to give her what she originally asked for. She promises Ginelle that they will figure out a way to make this thing work.
WANT TO KNOW MORE: Visit http://www.thecoolwazoo.com
ENTREPRENEUR: Michael Tseng
PITCH: PLATE TOPPER
ASKING FOR: $90k for a 5% stake
Michael has created a way to transform plates into airtight storage containers. You simply grab the handle and press down. The airtight seal is so strong that you can actually lift the plate up by the handle. The product is microwave and dishwasher safe. Michael has plate toppers in a variety of sizes. He needs help from the sharks to fulfill massive purchase orders from two of the world’s largest retailers. He has purchase orders from QVC totaling over $1 million over four months.
DO THE SHARKS BITE? Robert thinks the product is a great idea. Kevin thinks Michael needs a financier. He offers in $90,000 for a 5% royalty. Lori offers to add a zero to Michael’s offer. She’ll give him $900k for 30% equity. She’ll keep funding more as it continues to work. Daymond comes in with an offer for $1 million for a 25% stake. This has Michael declining Kevin’s offer. Daymond gets frustrated by Michael’s reluctance to give him a magic number in a counter, so he pulls his offer. Lori also rolls back her offer to the original one Michael asked for. The bad news continues when Robert goes out. Michael finally throws a number out there. He was going to ask for $750k for 5% of the company. This has the sharks feeling like Michael may be pulling a bait and switch.
THE RESULT Mark allows Michael the opportunity to call his brother for advice while the other sharks bicker about this guy’s pitch strategy. Michael then asks for $1.5 million for a 10% stake. This has Mark saying he’s out. Lori is the only shark left, but Michael still wants to talk to Mark. Lori offers $90k for 10%. The sharks get extremely frustrated when Michael tries to get them to engage in a bidding war. The problem is that most of them have already bailed. Lori then lowers her equity to 8%. Finally, finally, finally… Michael takes the deal.
I got the distinct impression that Dr. Plate Topper just didn’t want to work with Lori, he kept trying to get one of the guys to buy into his pitch, could it be because Lori’s female? If you follow any of the Sharks on Twitter you may have seen this tweet between Daymond John and Lori Greiner. Lori may have been in for a hot second, but as you can see from this tweet that things got worse and she bailed on Dr. Plate Topper.
In response to a question on Twitter about how long the pitches take Daymond had this to say: “Short pitches are 30 minutes, long pitches 90 minutes, That one was over 2 hours! Crazy!” All that flimflamming didn’t payoff for Dr. Plate Topper, in the end his true colors came shining through.
WANT TO KNOW MORE: Visit http://www.PlateTopper.com
Follow @tvfishbowl for your Television, Movie, Celebrity, Pop Culture, and Gossip scoop— TVFishBowl (@TVFishBowl) April 9, 2013