There’s a new Shark in the Tank… but is she easily baited?
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Friday’s Shark Tank premiere featured the debut of Sprinkles Cupcakes founder Candace Nelson — who, along with Mark Cuban, Lori Greiner, Daymond John and Kevin O’Leary, took pitches from budding entrepreneurs shilling low-calorie chocolate, canned wine, herbal soap and a children’s medical accessory. By the end of the hour, a pair of deals had been made.
In a second, we’ll want to know what you thought of the series’ newest Guest Shark — but first, keep scrolling to see which entrepreneurs sold the Sharks on their wares, and which products are already on sale.
The pitch: Halo Top co-founders Ryan Bouton and Doug Bouton are first up with their “guiltless version of a favorite treat” — a low-calorie chocolate bar. They enter the Tank seeking $500,000 for a 5% stake in their company.
Who takes the bait? Mark and Lori agree to $250,000 plus a $250,000 loan (at 6% interest) for a 20% stake. Their stake will increase to 30% once they reach $10 million in sales, and 40% once they reach $50 million in sales.
The pitch: Best friends Kevin Klein and Josh Green think they’ve come up with the perfect pairing for one of America’s favorite foods — a sweet (and slightly bubbly) canned wine that goes great with pizza. They enter the Tank seeking $200,000 for a 7.5% stake in their business.
Who takes the bait? No one! Mark and Kevin are already in the space. Daymond and Candace aren’t interested in the beverage business. Lori thinks it’s too early to invest.
The pitch: Paige Brattin is next up with a medical eye patch for children. She enters the Tank seeking $250,000 for 10% equity. But here’s the thing: She doesn’t really need the cash. This one-woman operation has already made $1.7 million in sales in four years! What she needs is a partner who can open more doors — perhaps someone who can help broker licensing deals.
Who takes the bait? No one! Kevin’s taps out first. Mark, Daymond and Candace do not believe Paige needs a partner. Lori doesn’t see it as the right investment, but is more than happy to consult on licensing.
See Worthy Eye Patches
The pitch: Kristen Dunning has a “botanical solution to a growing problem” — a bar soap for people with extremely sensitive skin. She enters the Tank seeking $75,000 for a 10% stake in her company.
Who takes the bait? Kevin and Candace both show interest. Mr. Wonderful offers Kristen a royalty deal — he’ll give her the $75,000 for 10%, but he wants a $1 for each bar sold until he makes back $500,000, at which point it drops down to 20¢ in perpetuity — but Candace has him beat. She accepts a counter offer of $75,000 for a 25% stake, and offers to connect Kristen with her friend at Thirteen Lune — an e-commerce destination designed to inspire the discovery of beauty brands created by Black and Brown founders. This marks Candace’s first deal in the Tank.
What did you think of Shark Tank’s Season 15 opener? Was Candace Nelson a good fit in the Tank? And which products could you see yourself buying? Weigh in via the following polls, then sound off in Comments.
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