Host Shark Kendra Scott joined Mark Cuban, Kevin O’Leary, Lori Greiner and Daymond John on the Shark Tank to evaluate four businesses that are seeking an investor. BootayBag, GoOats, Pooch Paper along with P-Nuff Crunch came to the Shark Tank with the intention of taking an investment from the Shark to purchase equity shares in their business. After entertaining and informative presentation, the four companies collaborated with the Shark to help take their companies into the future.
BootayBag Strikes a Deal With Kendra Scott
The entrepreneur, Elly Gheno, came to the Shark Tank seeking $500,000 in exchange for the 5% stake in her business, BootayBag. The company offers affordable underwear for women using an online subscription service. With a monthly variable cost, BootayBag provides high-quality undergarments specifically designed for women and made by women. The subscriptions can be cancelled at any time and customers can choose how many items of clothing they get each month, based on their personal preference and budget.
Although the Sharks were at first shocked by her valuation, they quickly understood the financial potential in BootayBag when they learned that what started out as a $300 investment turned into a $15,000,000 (lifetime sales) business. Although her financial success looks promising, the Sharks were confused as to why she needed a Shark. Elly confided that she is having significant trouble with her suppliers and is experiencing lead times in excess of 8 to 9 months which is tying up her inventory and cash-strapping the company. Three of the Sharks see immediate value and promise in BootayBag and extend offers to Elly. She accepted a $500,000 investment from Kenda Scott in exchange for a 10% share in equity.
GoOats Partners with Barbara Corcoran
Nahum Jeannot wowed all of the Sharks with his delicious and nutritious products, GoOats. These rich and flavorful oatmeal balls can be quickly warmed in the oven or microwave and provide a breakfast-on-the-go or a nutritious snack. Pairing a variety of flavors, GoOats are crunchy on the outside and smooth and flavorful on the inside. The taste and nutritional value of Nahum’s product immediately caught the attention of the Sharks.Nahum came to the Shark Tank to seek a partner that can help him get his product into big-box retailers to make GoOats more accessible. He is seeking a $150,000 investment in exchange for 10% equity in the company. Although the Sharks love his product, they are worried that his prices are not high enough for him to be able to effectively scale his business. Barbara Corcoran feels as though her resume can help him to accomplish the growth that he needs to make GoOats truly successful and agreed to invest $150,000 in exchange for 20% equity in the company.
Pooch Paper Makes a Royalty Deal with Kevin O’Leary
After spending 20 years working on Wall Street, Tracey Rosensteel decided to step away from the hustle and bustle of the finance industry and try her hand at entrepreneurship. By creating a biodegradable and compostable solution to handle the cleanup of dog waste, Tracey is on a mission to keep one-time-use plastic waste bags out of landfills. This led to the development of Pooch Paper. This quick and easy solution allows pet owners to easily clean up after their pets. Simply grab a piece of Pooch Paper, pick up their waste, twist the paper into a pouch, and throw away.
The Sharks applaud Tracey’s vision and dedication to a more eco-friendly pet product, however, they are concerned with the price point of the product in relation to the primary competition. Kevin O’Leary is impressed with the year-to-date sales and is optimistic about a future partnership with big-box retailers. Kevin decides to extend two different offers to Pooch Paper, one a royalty deal and the other an equity exchange. Tracey accepts his royalty offer. He will invest $250,000 in exchange or $1 per unit in perpetuity.
Mark Cuban Enthusiastically Invests in P-Nuff Crunch
Food scientist, nutritionist, and bodybuilder, Juan Salinas, has used his robust knowledge of food formulation to develop, P-Nuff Crunch. This healthy peanut-based snack is packed with plant protein to help provide consumers with a snack that is not only low in calories but nutritious as well. He is seeking a $300,000 investment as well as a Shark who is willing to help him develop the marketing and sales side of the business in exchange for a 10% equity share in his company.