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Businessman Matt Higgins joins Sharks Kevin O’Leary, Mark Cuban, Lori Greiner and Daymond John in the Shark Tank to evaluate four businesses in need of investors. Urban Float, Wild Earth, Kudo Banz and Pooch Selfie all pitched their businesses to the Sharks in hopes of securing a strategic partnership. Three of the businesses left the tank with a new Shark partner in tow.

Urban Float Partners With Miami Dolphin Executive Matt Higgins

Seattle natives Joe Beaudry and Scott Swerland came to the Shark Tank in hopes of securing $500,000 in exchange for a 5% equity share in their company Urban Float. Their spa company features a sensory controlled environment that’s good for the mind and body. Each pod contains 200 gallons of water made buoyant by 1200 lb of Epsom salt. This allows the user to peacefully and weightlessly float leaving them feeling refreshed, focused, and in less physical pain.

Urban Float currently has four corporate stores and has recently expanded into franchising. Their goal is to partner with a Shark who can help them strategically grow their company, adding locations around the country. Although the company does have positive cash flow, they also carry significant debt which makes most of the Sharks nervous. Kevin O’Leary decides to offer them $100,000 and a $400,000 loan at 9.5% interest for 36 months for a 15% stake. Matt Higgins also makes them an offer as he can see tremendous benefits of athletes utilizing this service. They agree to a $500,000 investment from Matt in exchange for 12.5% equity. He believes that he can make Urban Float a $100 million company within a few years.

Wild Earth Partners With Mark Cuban

Animal lover and biotech entrepreneur, Ryan Bethencourt, entered the Shark Tank seeking $550,000 in exchange for 5% equity in his company, Wild Earth. With major recalls on pet food happening regularly and pet obesity on the rise, Ryan became concerned about what our pets are actually eating. He decided to create a new type of dog treat and kibble made from koji protein. The product is made from koji, non-animal based bacon flavor and peanut butter.

The Sharks learn that Wild Earth has already received $4 million in investments from other partners and has not commercially released their product yet. They are not impressed with such high valuation from a company that has not even begun selling product yet. They also are concerned that the price point is too high for the average family to be able to afford. Mark Cuban decides to take a chance on Ryan and Wild Earth and offers the $550,000 in exchange for 10% of the company. Ryan agrees and enters into a partnership with Mark.

Kudo Banz Pitch Highlights a Family of Entrepreneurs

Amanda and Hamza Naqvi are parents of young children. They, like many other parents, struggle with appropriately rewarding and praising their children for a job well done without showering them in gifts or food items. They conceived the idea for their company, Kudo Banz, as a way to celebrate their kids for a job well done. This wrist band system comes with charms that children can unlock for good behavior such as good listening. The charms make the band come to life in an app which allows the children to pick their own rewards such as an extra book before bed or a dance party.

The Sharks are very impressed with the Naqvi family, especially their three children Mika’il, Ayaan and Sofia. The kids present the bulk of the pitch to the Shark Tank and are very prepared to answer their questions and objections. Kudo Banz had a soft launch in 2017 to learn their market, but they officially made their debut at the New York toy fair where hey connected with retailers. They are seeking $150,000 for 10% equity. Although the Sharks love their family and the pitch, they think that there are immediate concerns to consider like their lack of company strategy. They are also concerned about the longevity of the product because they can’t picture children using the product long term. The Sharks decline to make Kudo Banz an offer.

Daymond John Partners With Pooch Selfie

Jason Hernandez just wants a good selfie. A good selfie with his dog, that is. He created the Pooch Selfie to be able to get the attention of his dog so that they could take a selfie where they are both looking at the camera. His product is currently in Bed, Bath and Beyond but he is aware that he needs to update his packaging and product and therefore is seeking $100,000 for a 20% share in his company to achieve these upgrades. He also would like to educate the market on what his product is to increase his sales.

As the Sharks begin to pass up their opportunity to invest in Pooch Selfie, Daymond John decides to make Jason an offer. Having recently just lost his dog, Daymond wishes that he had a photo like the Pooch Selfie can capture. He offers to invest $100,000 for 33.3% equity. This would allow Jason to redesign the product and make the necessary upgrades. Jason agrees and officially partners with Daymond.

What did you think of the business deals on this episode? Would you have invested in any of these companies? Are there any investments that you believe are a mistake? Start the conversation in the comments below!

Shark Tank airs Sunday at 9:00 EST on ABC.





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