$46,275,000 invested by the Sharks to date

Shark Tank Seas. 1, Ep. 5: The Captain and The Deal

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Sharks invest $180,000 for 50% of Cactus Jack and Body Jac

Cactus Jack jumped into the Shark Tank first with his product Body Jac. Body Jac makes it easier to do a pushup by using rubber bands to lighten the load. Cactus Jack is not a new entrepreneur he has sold millions of dollars worth of other products. Body Jac is patented and will be produced in China for between $20 and $30 and then self them for between $89 to $120. Jack was asked why he needed the money if he has sold millions, Jack said he has filed for Bankrupts once and wants someone else to take a risk. Both Robert and Kevin O were out. Kevin H and Barbara offered 180K but wanted 50% and that Cactus Jack needed to lose 30lbs using the Body Jac. Daymond then offered 180k for 50% of Cactus Jack’s whole business and not just Body Jac. He took Barbara and Kevin’s deal and agreed to lose the weight.

Irina Block seeks 50% for 30% of Face Blok

pigsnoutNext up was Irina Block with her company Face Blok, which would, manufactures surgical facemasks with designs on them. She was looking for 50K for 30% of her business, the money would be used to develop the masks to make them surgical clean. Although it was an interesting idea the sharks felt it was too much of a niche market product to invest.

Sharks pass on Granola Gourmet diabetic treats

Jeff Cohen entered the Shark Tank with his business Granola Gourmet a Diabetic friendly granola bar. He was looking for 175K for 25%. Granola Gourmet came out of a personal need, Jeff is diabetic and was never able to find snack food that tasted good and didn’t make him sick. Working with his son he identified foods that would work well with a diabetic diet and that people would actually want to eat.GranolaGourmet Granola Gourmet is sold in southern California Whole Foods. He is on track to sell 90k worth of bars and is already getting reorders. He need the sharks money to expand, a few years back he had filed for bankrupts when his software company folded. Kevin O was out because of his bankrupts, and the rest of the sharks were out too.

Good Grief funeral service competitors leave Sharks cold

Ricky Farrar was next to enter the tank with her business Good Grief Celebrations inspired by her mothers death. Good Grief Celebrations is a funeral concierge that helps with funeral planning. The sharks saw no way to compete with funeral homes and were all out.

MyTherapyJournal.com owners seek $80,000 for 20% of online journaling business

Last to pitch to the sharks was Rodolfo and Alexis Saccoman and their business MyTherapyJounal.com. They were looking for 80k for 20% of their business. MyTherapyJounal.com offers a safe place to write a private online journal, you can also track your emotions, and the site is designed to help people dealing with depression. The sharks were not interested until they said that a major insurance company was looking at using their product. Kevin O, Robert and Daymond offered the 80k for 50% but it quickly changed to 51% after they found out about the insurance company. While the brothers deliberated back stage, Kevin O asked Robert why they needed Daymond and kicked him out of the deal. The brothers countered with 49%, Daymond still wanted in so her offered 120K for 50%. The brothers decided to go with Roberts and Kevin O’s offer because of their experience with online business.

Something I found interesting was they made a big deal about Jeff Cohen  filing for bankrupts but they didn’t seem to care the Cactus Jack also lost it all… interesting.

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10 Comments

  1. Pretty good episode. I though the mask lady should be targeting doctors and hospitals, not the general public…

    Could you see americans wearing those masks? It would have to be a major outbreak for that to happen.

  2. Prefer Anonymous on

    Re the online therapy idea. In 1981 I heard that a professor at a famous artificial intelligence laboratory developed an artificial intelligence therapy tool. A patient could write about one’s concerns and the computer program would interpret the patient’s text and respond. A secretary there was using the program, discovered that the professor had been reading her writing, and killed herself. I don’t have verification of this but this story was told by prominent artificial intelligence researchers. You need to investigate this. No company can guarantee that your data files are secure, especially two who are new to the business. Even banks and the Monster employment site could not keep their data secure. What liability could occur if someone regrets writing about his or her personal stuff and harms oneself? Therapy is a type of medical care. It is not a joke. Perhaps this could have limited use for some particular, harmless situation, but don’t kid yourself into thinking that just anyone can sign up for this and write about just anything and it is OK. Also, someone does have to monitor the content because suppose someone confesses to commiting a crime or someone is about to commit suicide. Are you required to notify the authorities? Actually, you could put this together with the Cactus Jack weight loss tool and track weight loss concerns and maybe then it will work. People write about personal concerns on the Dr. Phil website and I am sure he has established ethical guidelines as to how his site is handled, and I think you will have to at least look at that as a model. You will probably need to have a medical ethics board.

  3. I liked the concept of the two guys from Brazil with MyTherapyJournal.com.

    It seems to me that they should focus even more on partnering with companies as well as Portals on the Internet that are ALREADY serving the customers that they are after. Look at it as a Joint Venture and leverage the relationship that someone already have with the customers that they would like to reach.
    This is by far the best strategy to enter any market, providing they truly have something that the End Customer would really want AND that they also would help benefit the company that actually Owns that customer.

    Luckily the Sharp Sharks jumped all over that when they “…eventually heard” that the Brazilian founders had already started talking with a major health insurance company.

    I wish them much luck. 😉

    Alf
    Founder / inventor
    http://www.RipCard.com
    The Business Card that Drastically increases your Referrals…and tracks them too.

  4. I have a very hard time with this idea (mytherapyjournal) and I’m at a loss to understand the sharks interest in this. First, who on earth is going to record their intimate thoughts and feelings online? A “diary” is private – there is no expectation of sharing it with anyone. Sure, it’s therapeutic to write out your feelings but as far as the website – so what? I just don’t see it going anywhere.

  5. Suzanne Vierling on

    I would like to know how to get on the show! I absolutely love this show and found your blog. It’s terrific! I have a patent and am interested in taking it forward. So far, I think the gift card concept has a great opportunity for success.
    I think mytherapyjournal.com has be a solidly secure site. If that information is hacked into – suicides will spike. Also, there is a mandatory reporting requirement for mental health professionals and I would think that legally, someone has to read these to ensure that someone doesn’t communicate a wish for self harm. Should this happen and there is a failure to act or intervene – the lawsuits could and will fly. Boy the sharks are tough on each other! just my two cents.

  6. I think 2 of the sharks ousting the other was a level of social and class discrimination. By saying shut up and we don’t need you were entirely inappropriate. Also the same 2 sharks reversed themselves by refusing money of another shark by using the excuse that they knew the internet business and he didn’t. Many business owners can be successful to a certain level but often hit a wall because of connections or lack there of. Or to put it another way, banks, venture capitalists and those with money keep it amoung themselves and don’t share knowledge, wealth or a deal and few allow other social/class into their cirlce of opportunity, even refusing money as the sharks did.

  7. I think they missed it big with the face block. I believe the English skills hampered the delevery. That business if tweeked the right way could make it big. I am a nurse and about 2 months a bunch of us looked at her web page. We did buy because it did not meet our standards for surgical and or isolation requirments, but the idea is good. In the peds population we are allowed to wear cartoon scrubs, steth buddies, and other things to help the kids. The mask could easily be printed on the current disposible mask material. As far as numbers go well I can only tell about my hospital. Its only 1 of 9 in the downtown area, but our numbers are adverage and I would say we go trough about 15 boxes a day of the 50 count in the surgical area. On the floors they are used for isolation. The current mask used for TB is refered to as a “duckbill” because of its shape and color. At most it would add 5 cents per case to draw the duck on them. Matter of fact most of the nurses do this already as it helps both the pt and the nurse connect. Good idea, but the presentation was all wrong. You need a nurse or someone with goood ID skills who know what mask are used to supervise this, and then just market it to the right places. This would be a killer money maker…………

  8. Pingback: After Shark's Interview with MyTherapyJournal.com | In The Shark Tank

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