13x22 - Episode 22

[bunniefuu]

Narrator: Tonight, Emma Grede,
founder and CEO

of smash hit apparel brand
Good American

and founding partner of SKIMS,
returns to the t*nk.

I really understand
direct to consumer,

and I can really
help you unlock that.

Honestly, we're like, this
deserves to exist in the world.

Oy-yoy-yoy. Are
you insane? What?!

This deal for us
is about chasing

the American dream.

I need help... like,
I can't sustain this.

Yadda-yadda-yadda,
woof-woof-woof.

I don't care. Typical guy.

[ Laughter ]

♪♪

Narrator: First in the
t*nk is a business

that utilizes food
waste in a delicious way.

♪♪

Hi, Sharks.

My name is Kaitlin Mogentale,

and I'm here seeking $500,000

in exchange for 10% equity
in my company, Pulp Pantry.

Sharks, I know you
like talking numbers,

so let me throw some at you.

In the United States, we
waste 54 million tons of food

every single year.

[ Scoffs ] Can you
believe that, normally,

all of this gorgeous produce
would have been tossed?

Or this... the fiber left over

from juicing fruits
and vegetables.

This, too, normally
goes unloved.

Talk about a missed opportunity!

Well, Sharks, the
madness stops with us,

because Pulp Pantry
has developed a new way

to snack with impact.

We take the thousands of
pounds of organic produce

that would otherwise go
unloved every single week

and upcycle them into a
line of real veggie chips

that are made from
you guessed it...

Real, fresh vegetables...
Not corn, not potato starch,

and certainly not
grains, for that matter.

We're spreading
the "good fibes" only

with the delicious
and nutritious snack

that's packed with
flavor and fiber,

all the while tackling
one of our most pressing

environmental
issues... food waste.

Sharks, it's crunch
time! [ Greiner chuckles ]

Who's ready to dig
in and make a deal?

We are. I love.

We have our sea
salt, salt vinegar,

jalapeño lime, and barbecue.

But the things to note
with the Pulp Chips...

They're 100% vegan.

They're grain-free,
they're gluten-free,

and the best part about it is,

every serving has
five grams of fiber,

meaning that a bag of chips

is nearly your day's
serving of fiber.

I'm amazed. They're so
good. They're so delicious.

I'm so happy you love
them. I mean, I can tell

you're a woman
of impeccable taste

because you're wearing
my Good American

Fit For Success Jumpsuit...
Well done. [ Chuckling ] Yes.

Lots of kissing up going on.

Lots of kissing
up. Ah. Just saying.

Even better than the Jumpsuit,
these taste delicious. Good. Yeah.

How are you getting
the starchy consistency

that I would expect
from, you know, a grain?

'Cause it's there.
It's just balancing

the fresh ingredients
that we use,

which is the fresh vegetables.

We also add
cassava flour... Yeah.

And an okara flour,

which is another
upcycled ingredient

made from, actually,
the byproduct

of tofu manufacturing. So
there's no gluten in these at all?

No gluten, no grains.

If you look at the
back of a veggie chip

in a normal grocery store,

the first ingredient
you probably see

is potato starch or
dried potato flakes.

So we opted to create a version
that has no potatoes, either.

Can you give me
the stack on pricing

from the cost per bag... Yes.

Wholesale pricing, and retail?

Just run through that.

So, one bag costs
$1.70 to produce.

We wholesale for $3.24,

and we're on shelves
at $4.99 to $5.49.

How did you come
up with this idea?

I got really interested
in sustainability

when I was just in eighth grade,

and my mom took me to
see "An Inconvenient Truth,"

the Al Gore documentary. Ohh.

And environmental
studies was my degree.

But I think the big
"aha" moment...

I had a friend who
had driven off campus

to buy a bunch
of organic produce

and was juicing it.

And I basically saw
these handfuls of pulp

and then the tiniest
amount of juice.

And she was like, "I
usually throw this away.

I don't know
what to do with it."

So I took it home, made my
first batch of carrot cookies.

No. Carrot cookies?

Yes, it was carrot
cookies. Oh, I love it!

And the idea was honestly

just something I
pitched in a class project,

and I just had professors
who honestly were like,

"This deserves to
exist in the world.

This is a huge problem." Yeah.

And I actually got a
grant from my university

to get started after graduating.

But where are you
getting the pulp from now?

Like, at scale?

'Cause obviously,
you're selling it...

So, now, at scale,
we actually work

with two of the biggest
national juice brands

in the country. Oh, cool.

For them, there's
so many challenges

with the fact that there is
so much organic byproduct

that they have to
pay a composter

to take it off their hands.

To take it away, yeah.
Or pay animal feed.

So you come get it?
So, for them, it's a benefit,

because if we can
grow and absorb

most of that byproduct,

then it's actually
saving them money.

Do you pay for the veggies?

So we do offer to
basically cover the labor...

The cost of labor.

Because they're
gonna have to pay

for somebody
else to take it away.

Exactly. You basically
just do that for them

so they have no expense. Yeah.

So, what are you doing in sales?

We actually finished last year

with just under
$250,000 in sales.

This calendar year, how much?

This calendar year,
we'll finish the year

with just under $500,000.

Okay, what are you
gonna make on that?

$20,000 net, so
we are profitable.



We're in about 600 doors,

and about 20% of that

is through third-party
e-commerce sites

like Thrive Market,
Imperfect Produce.

But you're asking me
to pay you 10 times sales

for a nascent snacking company

that hasn't really
established distribution yet

outside of a couple of trials.

So to speak to the valuation...

And what I would say to that...

You know, our run rate... Well,
you should speak to the valuation.

Well, let her. Our run
rate the last quarter

puts us at about $700,000.

And the problem for us has
been less than 5% of our revenue

in each of our channels
has been spent on marketing.

I have a lot of experience in
this space, including Pipcorn.

It's really competitive.

I have to say,
though, I think the idea

that you turn someone
else's garbage

into a successful
business is amazing.

That's the beauty
of it. The beauty of it.

And not only that,
but on top of it,

you have such
passion and a purpose.

But unfortunately, I
think you're gonna have

a tall mountain to climb
in the competitive space.

So for those reasons, I'm out.

Thank you, Barbara. It
was so nice to meet you.

Kaitlin, how much is in
your bank account currently?

About $20,000.

Ohh. Wow.

So what's the lowest
you've ever been at?

I don't know if I should tell you.
Yeah, we've all been negative.

We've all been negative, so don't
feel bad, yeah. You were negative?

You know, I've
definitely seen it go down

to, like, $1,000.

I think the issue for us, again,
is these cash-flow cycles.

You know, we want to do
more in-store promotions

and kind of getting people
to try, maybe not in the...

Now would be a great
time for you to say

to the other Sharks,
"Give me some offers."

[ Laughs ] "Let's go."

Well, listen, I'll start.

I don't think you're
worth $5 million,

but I'll tell you, you're
very impressive.

I've made a lot of money
investing in women.

Sustainability... check the box.

Product is right on trend,
'cause I'm lowering my gluten.

I think your business
is worth 2 million bucks,

so I'll give you
$500,000 for 25%.

Thank you for that
offer, Mr. Wonderful.

Kaitlin, I'm gonna
make this easy

so you can properly
understand your options, right?

I actually, for once, I
agree with Mr. Wonderful.

Like, I think the
valuation's a little nuts,

and rather than give you
an offer that's insulting,

I'm gonna drop out.

But I do wish you good luck,

'cause I think you're a
fantastic entrepreneur.

Thank you, Emma. It
was so nice to meet you.

The thing for me is, is I
love what you're doing.

Love, love, love it.

But you're asking for half
a million dollars for 10%.

I'm trying to figure out,
like, how long will it take

for me to see my money back?

How about if I gave you
the $500,000 as a loan?

Because that's... it
feels a little safer to me.

$500,000 as a
loan at 6% interest,

which is less than
the going rate.

Three years to pay it off.

And then, I would still
want the 10% equity stake,

because I gotta go
to work for you, right?

And I've gotta help you,
and I've gotta give you

all the knowledge that I
know in the food space.

That's my offer.
Thank you, Lori.

But you've got two offers, okay?

That's good. Yep.

Mark, what are you gonna do?

♪♪

♪♪

Narrator: Two Sharks are out.

Kaitlin has two
offers on the table

from Kevin and
Lori for Pulp Pantry...

Chips made from
recycled vegetable waste...

But Mark may also be interested.

You've got two offers, okay?
That's good. Mogentale: Yep.

Mark, what are you gonna do?

Cuban: Okay, I'm
gonna give you a list

of my "Shark t*nk"
companies. [ Laughter ]

MUSH...

Pan's Mushroom Jerky,

P-nuffs, Wanna Date?

Unreal Deli,
SNACKLINS, Nuts 'N More,

Truffle Shuffle, Numilk,
Everything Legendary.

All these are companies
in your category. Yeah.

Companies that are on a mission

to make the world a better place

and to make people healthier.

I understand the category,
and so I'll make you an offer,

and it's going to
be 500K for 20%.

And I can tell you
that, you know,

when you walk in
the door, we all know

every entrepreneur
has that limit.

That number that they
don't want to go above. Yeah.

But you have to ask
yourself, where can you get to?

Yeah. Because that's really
where the value comes from.

What is this company
gonna look like

in two years with or without me?

Five years, ten years?

And can you go alone
so you don't have to sell,

so you can stick to
your mission? Yeah.

[ Coughs ] Take the offer.

Sorry, I have a Pulp Chip in
my throat. Listen... Oh, bless you.

Kaitlin, you've
got three offers.

You've got three
offers. You know what?

You gonna change
your offer? For me...

I'm just gonna say, like, I...

Mark gave a good offer.

He gave out his list.

I actually... I just love food.

And... [ Laughter ]

So I have a list... I have
Pizza Cupcake, Bantam Bagel.

You know, I mean, I
could rattle off... Yeah.

All of my successes and...

But the difference is, these
are all sustainable companies

that have a focus
on sustainability.

And they have a focus on health. And so is
The Frozen Farmer, and they have a farm.

What do you want to do?
You've got three offers.

[ Sighs ] Well, Mark...

Yes, ma'am. Would
you come down to 15%?

♪♪

I'll meet you in
the middle... 17%.

You've got a deal. Done.

- [ Laughs ]
- Whoo!

Congratulations. Great
presentation. Thank you. Thank you.

- Thank you so much.
- So good.

Oh, my God. [
Indistinct chatter ]

You're amazing. Thank you.
Oh! It was so nice to meet you all.

Congratulations.

[ Laughs ]

Yes! [ Laughs ]

♪♪

Mark Cuban has
invested in this space.

He knows how to help brands
that are our stage in size.

Like, he is going
to be such an asset

to have on our team.

♪♪

Narrator: In Season 12,

we watched Don
Lessem and Val Jones

make a deal with Mark Cuban

for their robotic dinosaur
company, Dino Don.

We believe in you.

[ Laughter ]

Let's see what
they're up to now.

Lessem: When we
went on "Shark t*nk,"

we had 150 robots.

Now we have over 400.

[ Roars ]

We have not just dinosaurs...

We have Ice Age animals,

we have giant dragons,
and we have huge bugs.

Jones: Being on "Shark t*nk"
really helped the business.

Instead of us going out
and pounding on doors,

now they're coming to us.

Before "Shark t*nk,"
we had four employees.

With this influx of orders,
we've got 25 people

working for us and
crews in four countries.

We have dinosaurs in Finland,
England, France, Belgium,

and now Germany.

The year before "Shark t*nk,"

our annual revenues
were about $1.8 million.

Following "Shark t*nk,"

we went instantly up to
$4.2 million in annual sales.

The most important use
for us of Mark's money

was to create our own
dinosaur touring show.

Just imagine... more
than 60 giant dinosaurs

parading through
the center of town

before settling in
a park near you.

We're building curiosity.

We're building
interest for kids.

The sky's the limit
for this business.

Cuban: Working with Dino
Don, we've expanded the tours,

got them to raise their prices

because they were undercharging.

The dinosaurs keep on
getting more amazing,

which in turn draws bigger
crowds to the destinations...

The zoos, the amphitheaters
whatever it may be.

And if we do it right,
we should hit $10 million

over the next two years easily.

Dino Don and Val are gonna
be household names globally.

Egg. It's a dinosaur egg.

Oh! Do you wanna sit
on it and see if it hatches?

I don't consider
what I do a job.

It's a bit of a mission.

I want to spread the knowledge
of the real dinosaurs to kids.

That sense of awe that makes
you wonder about all of nature.

I know I've done my job well

when I see the smiles
and the awe on kids' faces.

There's no more
satisfaction in life than that.

♪♪

♪♪

Narrator: Next up is a product

to help you look
your best online.

♪♪

Hi, Sharks.

My name is Chloe, and
this is my partner Lan.

And we are here seeking $88,000

for 22% equity in our company.

One of the things that
we've all learned in 2020

is that people from young to old

are relying now more than ever
on technology to stay connected,

whether it's creating
and sharing content

or catching up on a video call.

And let's face it...
Bad lighting is boring.

So we know when it
comes to being seen...

Lighting is everything!
Lighting is everything!

Well, Sharks, that's
where we come in.

Both: Introducing
Kawaii Lighting!

We make professional lighting

in all different
shapes and sizes

that are simple to
use, cute to look at,

and fit any mood.

Want to spread the
love on your socials?

Easy! Just use
our heart ring light.

It really is love
at first light.

[ Laughs ] Ready to look
"purrfect" on your next live video?

How about right meow?

With our cute cat ring light.

And when you're ready
to be the star of the show,

simply use our star ring
light whenever, wherever.

All you have to do is place...

plug...

pop in your phone...

and pose. [ Chuckles ]

One of the greatest
features about our lights

is that they give
you kawaii eyes.

That's right... our
customers absolutely love

the cute reflections of
hearts, stars, and even cats

right in their
eyes. [ Laughter ]

Kawaii Lighting loves

making everyone
look and feel their best

on and off camera.

So who's ready to
shine the brightest

and get kawaii lit with us?

All right. Wait, we'll
actually show you something

that we've been developing,

which is a carrying
case for our lights.

That was the issue a lot
of our customers had was,

"I love to travel with my light.

I'd like to bring it on set."
Grede: Ah! Cuban: That's cool.

"I'd like to bring it different
places." Greiner: Whoa.

- So cute, too!
- And so, now, they can. -Yeah. Yeah.

So this bag actually
holds the stand...

That's a great idea. Great idea.

Thank you so much... and all the
accessories. Thank you so much.

We designed it ourselves. Greiner:
So let's hear a little bit about you guys,

and what's your
relationship to each other?

We met nine years ago

at a Halloween party in Chicago.

We've been partners
ever since we met.

So business and life. Yes.

How did you come up with this?

I've always loved technology
since when I was little,

and Chloe was
teaching dance in China

right before the pandemic hit.

Yeah. And I was like, "Okay."

Wow. Yeah. [ Laughs ]

My other business that
I was doing at the time

was manufacturing licensed toys

for one of the biggest
video games on the planet.

And one of the things
that's really fascinating

about Shenzhen, China,

is it's one of the tech
capitals of the world.

If you want to find new
stuff, that's the place to be.

So, every weekend, we
would go to Hong Kong.

We would go out to
the markets in Shenzhen

and go trendspotting.

What's new? What's out there?

What is something
that is exciting

to bring back to the U. S.?

All right. And this is
actually what we found.

What does it sell for?
What does it cost to make?

Our heart ring light,

which is our
flagship ring light,

it sells for $305.

Wow, that's pricey,
I think. The big one.

And it costs about $100
to make and land here.

Hmm. Grede: So, when did
you guys start this business,

and what are your sales to date?

We started a year ago, actually.

Just a year ago. So,
our year-to-date sales

are actually our
lifetime sales, as well.

And they are how much?

$261,000.

Well, that's not
bad for this year.

Grede: How many
people buy ring lights?

Like, my makeup
artist has a ring light,

and my sister has a ring light.

But, like, they're the only
people that I know that have one,

and I've never thought about buying one. Corcoran:
You know what? I have to differ with that.

I've recommended ring
lights to everyone I know.

And I say, "You
don't have a ring light,

and you're on
Zoom?!" [ Laughter ]

COVID birthed the ring light.

It really did.

What's your mode of selling?

So, we're selling direct to
consumer on our website.

Only. And you are not on Amazon.

Is there a reason? Both: No.

We've actually avoided Amazon

because we didn't want
to create that competition

by showing off.

And so, we focused
on making sure

our customer service is the best

that we can possibly be.

We made relationships

with celebrities and influencers

to make sure that
our brand was the one

that was supported by
the people that were visible.

Look, what you've done is
great, right? Yes. Thank you.

Just starting and
going to Shenzhen

and putting all the
pieces together.

Awesome. Brilliant. Thank you.

The reality, though, is
this is a hard business.

There's always somebody
over your shoulder

trying to do the
exact same thing.

So, as an investor, I don't
see a direct path to scale.

So, for those reasons, I'm out.

Thanks. Thank you so much, Mark.

But congrats on what
you've done. Thank you.

Do you have a design
patent on any of these?

No. No, we actually do
not have a design patent.

Phase one of our business
was, let's prove the market.

Are cute ring lights

something that people
would even care about?

So that was phase one,
and that's where we are now.

Let me tell you
something, Lan...

I love hearing that.

You know, we hear
entrepreneur after entrepreneur

spending the money on a patent

when they haven't
even discovered

if a single person
wants to buy it.

- Has any interest, yeah.
- Yeah.

They reverse it, so it's
so refreshing to hear that.

I'd like to offer you
$100,000 for 22%.

That's more money than you're
asking for. Cuban: There you go.

And I'd like to get...

Barbara, you know how "Shark t*nk"
works? ...$10 a light on the front end.

$10 a light. What
do you call that thing?

The $10? Both: Royalty.

A royalty... a stupid royalty
that he's always talking about.

But in this instance,
it makes sense... $10.

So I'm on the
same page with you,

but I'm gonna overpay
you $100,000 for 22%.

What do you say? How
long does that royalty go?

Greiner: Yeah. It goes
just until I'm paid back.

She just gets her capital back,
and then she keeps the 22%.

Sure, but I don't
want to sit around

and just, like, be considered.

Because I went over the
price, would you take my offer?

♪♪

I'm leaving this up
to you. [ Laughs ]

I think the $10
royalty is... a lot.

Cuban: He's right. Ooh.

He's right. There's
gotta be a way

where an investor
recoups their money

rather than waiting till
the finish line five years out

when you have a
big company to sell.

And you know why it's... O'Leary: I'll tell
you what... just to keep it interesting...

Excuse me. I don't need to hear from
you. I'm gonna make an offer, Barbara.

Excuse me, and why that's... I'm not
finished yet. Just to keep it interesting.

Do you want to hear my offer?
No, I don't want to hear your offer.

I know you don't.
Wait. Excuse me.

Don't be so rude. I want to say...
Do you want to hear another offer?

Do you know why it's important
that... Greiner: Jump in, Kevin.

It's the "Shark t*nk".
O'Leary: Okay, great.

No, Kevin... Kevin,
stop. I'll tell you my offer.

I will do the deal.

Barbara, silencio. How annoying.

I'm sorry, I have to finish
my sentence at least, okay?

Just at least be a gentleman.

The reason the
investor needs a means

of getting the money back

is you always want them
on the same page with you.

So when you have the
success along the way,

they're having the
success along the way.

And then, when the
big payday comes,

everybody celebrates
and loves each other.

Now you can talk. The
way I would do this is,

I actually like this idea,

and I think I could help
you sell a lot of these.

I'll do $88,000 for 22%.

My royalty is $5
till I recoup my 88K.

Hmm.

The $5 royalty also
might be a little high.

I just want to make it
a little bit easier for you

and clear the field.

I think what you
do is really cute,

but it's just that for
me... it's just cute,

and I don't think
I'm the right investor

to help you do what
you really need to do.

So for that reason, I'm out.

Bui: Thanks. Thank you, Emma.

Thank you. All right, Lori,
what do you want to do?

I think it's cute.

I think you did a great job.

Love you guys. Thank you.

I just have concern
about the marketplace...

Understand... and
the competition.

So for those reasons, I'm out.

Thank you so much,
Lori. Awesome.

Just to mess with Mr. Wonderful

I'm gonna drop
the royalty to $5,

because I don't want to
see him get this. Okay.

Well, I think the opportunity...

[ Laughs ] ...is with
Barbara. Barbara, yes.

Is that a yes? That is a yes!

Oh, that is a yes! Cuban: Yay!

Great! Thank you so
much, Barbara! Yay!

I love it, and I love you.

We love our lights, too. I'm
so excited to work with you!

Yay! Thank you!

Thank you so much! Thank you!

Thank you so much.
Thank you for taking it.

Oh, my God, thank you.
Thank you all for your time.

- We really appreciate it.
- Congratulations, guys.

Well done. Greiner: Pleasure.

- Thank you so much!
- We'll see you online.

[ Laughter ] We did it!

Mae: Oh, my God.

That was the experience of a
lifetime, honestly. Bui: Yeah.

This moment means that our
dreams and our hard work...

Everything that we have just
been putting everything into

for over a year is
really starting to realize.

I think we really
have something,

and we're so excited to
see where it's gonna go.

[ Both laughing ]

♪♪

♪♪

Narrator: Next in the
t*nk is a beverage

that takes advantage of
a drought-tolerant plant.

♪♪

What's up, Sharks?

I'm Kun. And I'm Mo.

And we're from Pricklee.

And today, we're
here seeking $200,000

in exchange for 5%
equity of our business.

Who's ready for the
next big coconut water?

Uh, said no one ever.

Coconut water is played out.

Is it still 2005?

Get out of here.

Coconut water's time
has come and gone.

Allow us to humbly introduce you

to Mother Nature's
ultimate thirst quencher.

With just half the sugar
and half the calories

of coconut water, meet...

Pricklee cactus water!

Pricklee has no
carbonation. No stevia.

And dare we say
it... No coconut.

No mo' coco! No mo' coco!

No mo' coco! No mo' coco!

"Cact-I" plus "cact-u"
equals "cact-us."

So, who's ready
to make cactus...

The new coconut?
The new coconut?

Right in front of you,
we have three samples

of our delicious cactus waters.

Let's start with the
Prickly Pear original,

with hints of watermelon
and bubblegum.

Good. Tastes to me like
a watered-down pear juice.

The second flavor that
you have in your hand

is the Strawberry Hibiscus.

This one's nice.

And the last one is
the Mango Ginger.

Oh, wow, very gingery.

This is only 35 calories
the whole thing?

Both: For the whole can.
And how much sugar?

Seven grams of sugar.

All three of them are great.

Do you guys have
a ton of competition?

Like, is cactus a thing?

Cactus water is a brand-new
category. Mm-hmm.

There are a few companies
that are in that space, as well.

Yang: But we have
something that others don't.

So, growing up in Lebanon,
my grandma used to make it

from the prickly pear.

The actual pulp that's in there,

she used to juice
that, remove the seeds,

remove the spines
from the outside,

and we used to drink
that as kids growing up.

I was in a local
market in Boston,

and I just saw the prickly
pears out of the side of my eye.

And I just had, like, a
moment of nostalgia.

I just remember my grandma,
how she used to make this for us.

So, just decided
right then and there,

I'm gonna take it back
home and try to, like,

replicate to the
best of my ability.

So, you know, we took a sip,
and immediately, we just knew

that this was something special.

Okay, guys. You loved it.

Many, many beverages come
into "Shark t*nk"... We... Yeah.

Many, many, many.
Yeah, absolutely.

We've had, over 13
years, many. Hundreds.

Two questions that always
have to be answered.

Distribution is next to
impossible to get shelf space.

The weight of the
can direct to consumer

makes it very expensive to ship,

so everybody has
a huge problem...

Customer acquisition.

Now, you're gonna tell us
you've solved that problem, right?

Because you guys want a
$4 million valuation. Yeah.

Hopefully, you've got
some sales. Absolutely.

We launched in
February, and we just had

our best month last
month at $55,000.

Where are you selling?
And this month...

And this month, we'll be at...

This month, we'll be at $70,000.

So we're selling, as
far as retail distribution,

UNFI and regional
distributors in the Northeast.

So what does one can cost, guys?

And what does it
cost you to make?

So, currently, it
costs us $1 to make,

but we have a pathway
with our co-packer,

as well as our
ingredient vendors,

to get it down to 65 cents.

And that's landed,
including freight.

We wholesale for $1.67.

And they retail at $2.99.
Yeah. Retail for $2.99.

And in New York specifically,
it's more like $3.49. Yeah.

How does that compare to
the cost of coconut water?

Oh, it's right in line.

Look, I'm a big
coconut water drinker,

and the difference is,

I get a whole lot
more potassium. Sure.

And I get a whole lot
more of the electrolytes.

But your nutritional
levels are really, really low.

The differentiator
is the antioxidants

with the Prickly Pear
versus the coconut water.

For example, a
single Prickly Pear

contains more antioxidants
than a cup of green tea.

It contains all 24 betalains.

It's got polyphenols, taurine,

and, of course, a little
bit of vitamin C, as well.

We anchor it to coconut water
because of the immense work

that's done through
plant-based waters.

Yeah, but you don't
say that anywhere.

Right, so, the message is,
"Cactus is the new coconut,"

because even
though 99% of people

know what cactuses are, we
have to give them something

that they understand the
product with immediately.

I love the fact that it's
coming from cactus.

Most things take a
lot of water to grow.

So I think you're
right on the money

with something that's important,

but I think you're
a little bit too early.

And so, I am out, but
I'll be watching you.

Oh, thank you so much for your
time, Lori. Thank you for your time.

Yeah, guys, that's your
whole sales pitch. Yang: Sure.

Tastes great. Doesn't use water.

Low cost. Low cal.

And, oh, by the way,
there's antioxidants.

And you didn't use it at all.

You should repackage it
to something that has to do

with saving the country
and the world from droughts.

That's your missing piece. So...

And for those reasons,
I'm out. Yeah, no.

No, I-I agree from a
sustainability aspect.

We need to maybe have
focused on that a little bit more.

What we're trying to do from
the overall mission perspective

is to really change
customer behavior

and promote sustainable foods.

Guys, you know, you've
clearly got something

that's, like, you
know, interesting

and doesn't seem
to be out there.

But back to Mark's point,

businesses now need to have
some kind of purpose, right?

And you actually have that.

You're just not telling
us that you've got it.

And that's the
biggest miss here.

I wish you the best
of luck, but I'm out.

I have to say, I invested
in a chilled soda company

going back maybe


It's where I lost
my first $200,000.

Then they did a
round of investing.

I lost another $200,000.

Then another $200,000.

And the reason it was
lost was the distribution k*ll.

And I learned to respect
how dangerous it is.

And so I don't want to
go down that road again.

So I'm out.

You know, what you're
specifically talking about

is distribution from
a retail perspective.

The other aspects, other
channels that we're exploring...

Guys, they're all out.

There's only one Shark left.

So let me tell you
the way I see it, okay?

I hate beverage deals because
of exactly what Barb said.

We've seen them all before,
and they are just brutal.

You guys are gonna
have a really hard time

getting anybody
to return your call.

However...

I like this product.

Wow! I've never
done a beverage deal

'cause I hate them so much.

I hate you less.

So I'm having a
hard time with it,

'cause I know if I do
this, it's hell on Earth.

But here's my offer.

- It's a "Pricklee" offer...
- Pricklee offer.

You might have a
little trouble with it.

It might sting on the
edges, but it's the only offer

I'm gonna make, and
I have no flexibility.

I'll give you the
$200,000 for 20%.

That's it. Take it or leave it.

Don't tell me why your other
investors would be unhappy,

Yadda-yadda-yadda,
woof-woof-woof.

I don't care. That's
the deal. [ Laughs ]

Thank you so
much for that offer.

Can I ask you a
quick question? Sure.

So, just help us understand...

I mean, with your
immense experience.

I mean, how are we
supposed to do that, right?

As you know, this is a
cash-intensive business.

That equity becomes
currency for us

to raise additional money,
build our operations team,

build our sales
team to get access

into those Whole
Foods, into those Krogers.

Oh, you're making
me regret this offer.

I hate this business
so much. But...

You know, if we were to
give you 20% of our equity,

how are we gonna
return your money

in, you know, four or five years

as an investment partner, right?

We want to honor the faith
that you've shown in us.

The only way this works...

And it's a... it's
a long sh*t...

Is you get it to
$50 million in sales.

Just on the East
Coast, you can do that.

And then, one of the
big guys take you out.

That's what happens.

You will never return my
cash... It's not quite that easy.

Till you get acquired. We
need that equity to raise money

to get to the $50 million in
sales that you want, right?

Like, I just want to set the stage...
Okay, and here's my answer to that.

If we do this deal,

I'm gonna try and
get you more capital

from very smart
people in distribution.

It becomes part of my
"Shark t*nk" family,

and the whole team
goes to work on it.

Of course. Of course. But, Kun, he
didn't answer your question, did he?

What... What... All I'm
saying is, this is, of course...

Yeah, we're all gonna get diluted together.
It's not just about cash, right?

We're all gonna get diluted
together. Why don't you counter him?

You'll dilute even 1%. Kun, do you
really want to get in bed with a guy

who doesn't like your business,
doesn't believe in the business,

and thinks it's a nightmare? Barbara,
are you the one that gave them the offer?

No, I didn't, because I don't like the
business. Oh, I forgot that... you're out.

He doesn't like the
business. Are you still out?

He's trying to come
in and gobble it up.

Please? Greiner: No,
but give him a counter.

Listen, guys, you
don't have to do it.

You don't have to do it. You know, you
guys wouldn't be where you are without...

I've said from the beginning.
I was honest with you.

I said I had... Barbara, silence, please. He's
where he is 'cause he's a bully, by the way.

Because he's a bully, he
bullies his way into these deals.

Don't fall for it. You know,
I'm just telling you the truth.

It's so hard that I
need a big chunk

'cause I know I'm gonna
get diluted multiple times

as we raise more capital.

But this deal is not about...

It's not about the cash.
It's not about cash, right?

If we want cash, we
can get the cash, right?

This deal for us is about
being first-generation Americans

chasing the American dream

and the sacrifice
that our parents put in.

So would you consider
the original offer

of $200,000 at 5%,
but as a line of credit?

So we bring you as an adviser,

as somebody that
can bring a ton of value.

We're giving you
investment back.

But you have equity
in the business.

No, I would go down to


I want some way
to get my cash back.

You know what? I
love your heart in this.

I would do that
for a line of credit.

For 5%, of course, 'cause
I'd love to see you succeed.

Even though I'd be a...
Just sucker... Not at all...

for going into
another deal like this.

Do it.

♪♪

You have a deal. You avoid
getting a deal with him, yeah.

- Let's do this. -Well done.
- Congrats, Barbara.

Corcoran: This is exactly
the kind of deal I hate.

Every piece of it.
Thank you so much.

We're so excited
to work with you.

But it's a compliment...

It's a compliment
to the two of you,

'cause I love the two
of you. Both: Thank you.

Congratulations, guys.
Both: Thank you so much.

I'll be a customer, guys.

Bye, guys! Good luck!

Let's go!

Yes!

No mo' coco!

Together: [ Chanting ]
No mo' coco! No mo' coco!

We just really wanted
to protect our equity

because we know how much
money it's gonna cost us to raise

in order to grow this business.

And so, we want to
make sure that we're fair

to, you know, Barbara

and everyone else
that's believing in us.

♪♪

♪♪

Narrator: Next up is a
homegrown business

that is fashionable
and functional.

♪♪

Hi, Sharks! My name
is Mika Bertholdo.

I'm from Dallas, Texas... Yeah!

And I'm seeing $150,000

for 10% equity in my company.

Sharkettes, have
you ever been wearing

one of those "one
size fits all" headbands

that squeezes the
bejesus out of your head

and then gives you a
throbbing headache? [ Laughter ]

Look no further, Sharks,
'cause I've got you covered.

Featuring ooakshell...
A one size truly fits all,

fully adjustable,
hand-made headband

that can be styled
countless of different ways.

With our patent-pending
design, ooakshell allows you

to adjust the tightness
to your comfort level

using our signature rings.

And creating with your
customized ooakshell

has never been easier.

Simply take the end
of your headband...

and slip it through
these ooakshell rings.

Want to go over and down.

And that allows you
to adjust the tightness

to your comfort level.

Place it on your head,

and then tighten it until
it feels comfy and cozy

without any of that
unwanted tension.

And if you need a
little bit of inspiration,

take a look at my lovely models.

Corcoran: Oh, my
God! [ Laughter ]

I am now The Karate
Kid. You look cute like that.

What are you doing
with the little tail?

I'm so glad you
asked. Greiner: Yes.

You tuck the tail in the back,

and from there,
you're good to go.

Okay, good job. Oh, you
put the ring in the front?

You can do it however you like.

The possibilities
are truly endless.

Want to switch up the style?

Braid it, twist it, knot it!

Gosh darn it, you can
even wear it as a facemask.

Sharks, I'm crushing this,
and it's just little old me.

And that's why I need
one of you on board

so we can pound... these... out.

[ Laughs ] So,
tell me, Sharks...

Which one of you
wants to wrap your head

around my headbands and
bring ooakshell to the world?

Great job. What
does that sell for?

The price is $35.

And what does it cost to make?

$1.64.

Ooh-la-la! A low
margin. O'Leary: Oh!

That's why you're
crushing it. Thank you.

- Love those margins.
- Tell us about you.

I'm actually a
first-generation American,

so my parents believed

that education was
the most important.

And my mom used to
whisper in my ear, like,

"You're gonna be a doctor. You're
gonna be a doctor." [ Laughter ]

And then, one day, I
woke up, and I was like,

"I don't want to be
a doctor!" [ Laughs ]

But, unfortunately,
I didn't realize

that I didn't want
to be a doctor

until about two quarters
before I graduated college,

and I finished graduating

with my Bachelor's
of Science in Biology.

Where'd you go to school? UCSD.

That's where I met my
husband... my now husband.

And we had a baby
and got married.

And having a baby is not cheap,

especially when
you're a bartender.

So I made the really
difficult decision

to move back with my mom.

With your husband?
With my husband.

Wow. And I was living
at home with my mom.

After my second child,

I was losing my hair.

Like, not as bad
as Mr. Wonderful.

Exactly the same happened to me.

Right? Yeah, like, terrible,
terrible alopecia, mm-hmm.

Postpartum hair loss so bad.

I was so self-conscious,
like, when I put my hair up.

So I knew that regular
headbands didn't work for me,

because I have a
really large five-head.

[ Laughs ] So I
had to play around

with a bunch of
different designs.

I went to the fabric store,
spent a couple bucks on fabric,

and I eventually came out with
this design that you see here.

Because, so, for real,
are you crushing it?

You said that, like
Oh, I'm crushing it.

Tell us about that.

My first full year of sales...

$12,000!

[ Laughs ] Okay, it's a start.

Yay! That's not that exciting.

Well... Come on, excite us.

What year was that? 2019.

I bet it gets better.

- What happened in 2020?
- Then what happened?

My 2020 sales are...

$245,000.

- Better.
- That's an improvement.

Well, that's a nice
bump from $12,000.

Yeah. So, 2021 year to date.

$386,000.

So you had a nice rise.

What were you
doing to get the sales?

So, I am actually doing
everything 100% myself.

I go buy the fabric.

I cut it.

I dye it.

I sew it. I package it.

You do? I do everything.

Wow. I'm the only employee.

I don't have any help
with this. Good for you!

Then you're making some big-time
bucks, aren't you? Good for you.

So everything is,
like... [ Clicks tongue ]

in my pocket. Just so
people understand, right?

This costs you a buck... what?
- -

to make each one... a buck 64.

Yes. And you're
selling it for 35 bucks.

So your margins are


And you did $386,000 in sales.

So you made a good $350,000
off of this that you put...

There's no cost of goods there,
right? Did you... Or are you spending...

Are you spending
a ton on marketing?

No, I spend zero
dollars on marketing.

How are you selling it, then?
Well, how are you selling it, then?

How are you getting
your customers?

I'm doing my own
social-media marketing.

Like, it's... Good.

The biggest way that I
obtained my customers was,

there's this bag company
that I was obsessed with,

and so I would
take pictures of me

with a bag and my headband,

and I would wait for someone
to ask me where I got it from.

Smart. And if nobody
asked me where I got it from,

I would be like...
Message my friend like,

"Hey, can you ask me
where my headband's from?"

Like... That's great.

So that's how people
started finding out about me.

And each one of these is
unique, is what you're saying, then.

Yeah, everything is
one-of-a-kind, hand-painted. Okay.

The one on your
head is hand-painted.

So, what if I wanted
to buy this one

for me and five people I know?

Can't I duplicate it? You can't.

You can't buy it, because
I'm always sold out.

That's why you can
sell it for $35, right?

Because you say
"each one is unique."

"Each one is unique." And you
probably have some you've sold for more.

Oh, my gosh, I have a
buy/sell/trade Facebook group,

and one sold for $165.

Why? Why was that?
Because it was frickin' awesome.

[ Laughter ]

So, like, why do
you need a Shark?

If you've got these
incredible margins... Oh...

and you're literally, like,
doing all of this yourself...

You've got, you know,
customers flooding to you,

what do you need the money for?

I need the money because

I'm, like, wiped out
just doing everything.

I need help, you know, with
production. Greiner: [ Chuckling ] Yeah.

But why wouldn't you
just hire a few employees

to help you with that?

Well, my husband
is my unpaid intern.

[ Laughter ] He
helps me package.

But his attention
to detail is like...

Is your husband only
packaging your goods?

Is he shipping them
out? Yeah, so, all he does

is, like, fold it up in a
little, like, envelope pouch...

And he can't even do that well.

What I'm saying is,
I get a lot of emails

that's like, "I
ordered this and this,

and I only got this."

And I'm like, "Oh,
no." Okay, fair enough.

I know that wasn't me.
Give the husband a break!

I know that wasn't
me. It's like, I mean...

Typical guy.

But, Mika, something I'm trying
to get my arms around here...

You did $386,000 in sales.

You sell them for
about $35 each.

That means you
sold 10,000 of them.

How do you make 10,000 of them?

I just don't sleep.
For real, though?

I'm seri... I'm not even joking.

I do everything.

And where are you selling them?

On my website.

You're 100% direct
to the consumer. Yes.

Only through your website.
There's no wholesale. Nope.

I'm also catering to the
same customers right now.

You know, like, the
same 2,000 customers.

My returning customer
rate right now is 81%.

Oy-yoy-yoy! Are
you insane?! What?!

They just keep buying
and buying and buying.

That's like a world
record. [ Laughs ]

Absolutely, I'm gonna
make you an offer.

$150,000 for 20%
of your business.

Greiner: Uh. O'Leary: Your
valuation just got crushed.

Better say yes.

♪♪

♪♪

Narrator: All
Sharks are still in,

and Emma seems interested

in Mika's headband
business, ooakshell.

Absolutely, I'm gonna
make you an offer.

$150,000 for 20%
of your business.

Greiner: Uh. O'Leary: Your
valuation just got crushed.

Better say yes.

Grede: You have a
really incredible product.

You've obviously... You know...

I can see the reason

that you would need a
partner to do this, because...

Why are you crying? Don't
cry. I'm, like, overwhelmed.

Oh. This is happy
tears, though, for sure.

Oh, good. Like...
[ Inhales deeply ]

I'm swallowing them.
Well, compose yourself.

You're on the TV. You don't want,
you know... They're gone. They're gone.

No, none of that. [ Laughter ]

I'm like, "They're gone!" as
they're falling down my face.

- Do one of these.
- Your makeup is fine.

Mr. Wonderful, I'm
borrowing your scarf.

[ Laughter ] Aww, tell
us... why the gush?

Oh, I'm just, like, so
happy that you're even

considering offering
something to me, 'cause...

I need help... like,
I can't sustain this.

I work like 18 to


and I have kids that I
want to see sometimes.

I get that. A couple
times, you know?

She made 10,000 units last year.

Like, that's impossible.

And honestly, it's really
not good for your marriage

to have your
husband as your intern

folding things of yours.

Oh, this customer got
it wrong! Absolutely.

Maybe it's better. It's
a recipe for divorce.

- You're right about that.
- Yeah.

That's a disaster, and
that's coming from someone

who actually works
with their husband.

Okay. Okay, so,
here's the thing.

I think what you're
doing is incredible,

and I honestly believe
that you are an actual artist.

You can take what
you're doing in here

and apply it to so
many different areas.

I painted this. I
was gonna ask you.

Wow. I thought
you did the T-shirt.

And it's a SKIMS
Bodysuit. No way!

Yes! Look at you!

- I know! -Good girl.
- I love that!

Look at that
little collaboration

you're thinking about already.

Smart, smart. I
like it. [ Laughs ]

So here's the thing
but I do think

you're gonna need an
enormous amount of help.

So I want you to think
about this a little bit,

because, you know,
you've heard everybody

say it before... the value
that comes with a Shark.

I really understand apparel.

I really understand
direct to consumer.

Both of my businesses
are completely rooted

in the direct to consumer space.

But there's this whole
area of wholesale

that you are completely missing

that actually would be perfect.

And I can really help you
unlock that very, very easily.

On the infrastructure part,
there's a lot to do, right?

'Cause we don't want
you dying in your house

and sending out
packages anymore.

That has to stop so you
can get back to being a mom.

And I understand that, 'cause
I have two children myself.

So $150,000 for 20%.


the morning thinking about it.



And I can really help you.

So, what do you want
to do, Mika? Yeah.

Um...

I do want to counter.

Don't counter too hard.

It's a good offer.

Okay.

So, this is Season




Would you do the deal for 13%?

No.

I think that there is...

You know, there's a part
of this that, you know...

In your business,
you've been in business

for a couple of years now,

and there's an
element of naiveté

in terms of what it takes

to really scale
something, right?

You're wearing a
bodysuit that, you know,

we sell hundreds of
thousands of every month.

You want to scale this business.

You don't want to sell


You don't want to sell 20,000.

You want to sell


and that takes
some doing, right?

It's not just, like, you
painting and seeing

how much we can do.

We're gonna actually try
to build a proper company.

And so I'm gonna
actually stand firm.

I'm gonna say it's
$150,000 for 20%.

♪♪

Okay.

- Deal!
- Yes!

[ All cheering, laughing ]

Congratulations. Oh, my God!

Look at that!

I'm gonna make 20
your new lucky number.

Oh, my God. Thank you so much.

- Oh, that's so exciting!
- Thank you.

I love it! Thank you so much!

Congratulations. I can't wait!

- Congrats.
- Congratulations, Mika.

- Thank you guys so much!
- Thank you.

Goodbye, Mika!

How about that?

Oh, my God!

I got a deal with Emma!

Oh, my God!

Like, what the
heck just happened?

I can't believe it. I'm
sweating and crying.

And I'm so happy!

Happy dance, happy dance!

♪ I'm so glad it happened! ♪

Oh, yeah, it's happening.

♪♪

♪♪