Barbara is back… and she wasted no time making a big statement in the first segment of tonight’s episode. Did you miss out on the newest Shark Tank shenanigans? Here’s our weekly recap to get you all caught up:
Kisstixx seeks $200,000, asks the Sharks to kiss!!
First into the Shark Tank was Kisstixx, a two-flavored lip balm pack designed to create an amazing flavor combination when used by two kissing partners. Founders Dallas Robinson and Mike Buonomo sought $200,000 for 20% of their company. A lip balm for kissing made the perfect opportunity for the guys to break out a kissing booth for a live demonstration. Viewers across the country cringed as Barbara and Kevin O’Leary tested out the fire and ice kissing combination. Let’s just say… we didn’t see any sparks flying. While the company’s sales track record isn’t bad ($80,000 in about a year), it wasn’t until the guys revealed their pending deal with Walgreens that the Sharks started chomping. Cuban offered Kisstixx $200,000 for 40% of the company, and the guys accepted!
Shark Tank Success Story: Daisy Cakes
Just before the commercial break, viewers got to see an update from last season’s drool-worthy baking company, Daisy Cakes. After making a deal with Barbara, Daisy Cakes has gone from a few thousand dollars in sales per year, to over $100,000/month. Daisy Cakes has moved from at-home baking to an industrial-size kitchen where 160 cakes can be baked at a time. Founder Kim Daisy said, “working with Barbara is absolutely amazing.”
The Smart Baker requests a $75,000 investment for 25% of company
Along the baking theme, next into the Shark Tank were Daniel and Stephanie Rensing, representing their company The Smart Baker. They sought $75,000 for 25% of the company. The Smart Baker is a line of products designed to help everyday chefs in the kitchen. Their hallmark product is the cheat sheet apron, which helps chefs easily convert ingredient amounts with a cheat sheet printed upside down at the bottom of the apron. Smelling a good deal, Daymond and Barbara each presented offers of $75,000 for 40% of the company, though Barbara also wanted a 5% royalty until her initial investment was recouped. Swayed by Barbara’s sweet-talking, the Rensings agreed to her offer.
Heat Helper inventor, Lyle Chutey asks $100,000 for heat circulation device
Next up was the Heat Helper, a product designed to circulate hot air from the dryer back into the home. Inventor Lyle Chutey was asking the Sharks for $100,000 in exchange for 50% of his company. While the Heat Helper is already being sold by special order to customers through Lowe’s and Wal-Mart, the Sharks didn’t seem sold on the idea’s success and they all bowed out.
Technology Enabled Clothing (TEC) asks for $500,000, then walks away from it
Last into the tank was the most controversial contestant of the night: Scott Jordan. Jordan’s invention, Technology Enabled Clothing (TEC), is designed to give gadget-loving geeks a pouch for every device, all in a slim-profile article of clothing. Jordan has patented his idea of an inner-jacket wiring system to make headphones easily accessible, even if you’re wearing a parka. He sought to sell the patent to the Sharks for $500,000 in exchange for 15%. The Sharks were definitely biting at this one, though the quickly realized that Jordan’s offer was only for his patent-not for his multimillion dollar retail business that makes use of this technology. Upon learning this, Kevin quipped, “Why are you so greedy? … and savvy?” After probing for more answers, the Sharks also learned that Jordan was formerly an attorney, and that he was currently getting a royalty stream from numerous big companies (North Face, Burton, etc.) for patent infringement. Despite Cuban’s obvious disdain for Jordan, Robert was ready to make an offer: $500,000 for 15% of the patent and retail business. Wasting no time, Kevin made the same offer. With two offers on the table, Jordan stepped out of the room to consult with his friend Steve Wozniak (co-founder of Apple). After a brief chat, Jordan made one of the boldest moves in Shark Tank history: pointing at Robert and Kevin, he told them that they were both out. Without another word, he strutted out of the room.
What did you think of the episode fans? Are you happy to see Barbara back in action? Did you think Jordan beat the Sharks at their own game, or was he just being greedy? Let us know!