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Excitement was running high for the final episode of Shark Tank Season 3. It’s been an exciting season full of wild inventions, a few superstar cameos, heartfelt stories, and massive deals. The season finale was no different, and viewers even got to see an update from EzVIP, who made a deal earlier this season with Daymond. Missed the season finale and want to catch up on what went down in the tank? Here’s what happened:
First into the Shark Tank tonight was Cougar Ltd., an energy drink company focused on marketing to women. Ryan Custer, owner of Cougar Ltd. and self-proclaimed cougar-lover, went before the Sharks seeking a $150,000 investment in exchange for 30% of his energy drink company. In recent years cougars have become a pop culture phenomenon, thanks, in part, to shows like Desperate Housewives and The Real Housewives series. The Sharks were interested to know what kind of sales Cougar Ltd. had, but they were less than impressed to learn that Ryan had only sold about $60,000 worth of product… in three years. Kevin remarked, “Barbara, you used to be a cougar,” so all were waiting to hear what she thought after taste testing the drink. Unfortunately for Ryan, Barbara claimed the drink tasted chalky, and that was it for the Sharks. No offers were made for Cougar Ltd.
Second into the tank was Gary Gagnon, founder of REMYXX, who was seeking a $50,000 investment in exchange for 10% of his company. REMYXX is a sneaker company built on the idea that shoes should be 100% recyclable and stylish. On first look, the Sharks definitely seem to be liking the design and style of the shoes, especially the recycle stamp on the toe of the shoes. However, the conversation quickly turned to sales, and REMYXX doesn’t have any sales yet. At the beginning of his presentation, Gary told the Sharks he was crazy, and Daymond made him an offer that tested exactly how crazy he is: Daymond offered Gary $50,000 for 80% of the company. In an emotional moment, Gary explained that he wanted REMYXX to be around long enough that he could pass the business on to his sons, and he countered with $100,000 for 50% of the company. Daymond stuck to his guns with his original offer and Gary bit—they made a deal.
Before the next segment Shark Tank fans were treated to a short update about a contestant from earlier this season. Al Nelson’s company, EzVIP aims to offer the VIP club experience anyone. We caught up with him as Daymond revealed EzVIP’s new celebrity spokesman: Pitbull. Though no further information was given as to EzVIP’s progress, we’re confident that with Mark and Daymond’s guidance, the company is well on its way to becoming a success. Congrats guys!
Next up was the Nitroforce Titan 1000, represented by personal trainer duo Frank Campitelli and Debrae Barensfeld. The two were seeking a $250,000 investment in exchange for 10% of their home gym company. Debrae described the machine, which allows users to perform over 100 different exercises, as “tighten your butt, tighten your gut, Titan 1000.” After a personal investment of over $200,000, Frank and Debrae have only sold 26 units at $1299 apiece. According to Robert, 98% of machines in the industry are bought and used only once. The rest of the Sharks seemed to agree, and they all bowed out.
Last into the Shark Tank was Unikey, a product that aims to revolutionize the personal security industry. Founder Phil Dumas asked the Sharks for a $500,000 investment, in exchange for a 33% stake in his company. The premise behind Unikey is quite simple: a phone app enables home locks to be opened only by someone who has the phone that holds the Unikey (or someone who has been given a temporary key). Prior to entering the tank, Phil had been in talks with Black and Decker about possibly partnering with them and tentatively selling the Unikey for $149-199 apiece. At the mention of a major industry partner, the Sharks were instantly intrigued and deals were flying.
Kevin offered $100,000 for 50%, assuming other Sharks would pony up the other $400,000 to make his offer complete. Robert jumped in with $1 million for 75% of the company, with the condition that the Black and Decker partnership had to happen. Barbara offered $250,000 for 25%, hoping Mark would match her offer and they could go in together. Daymond threw his offer into the pool: $500,000 for 40%. Finally, Mark told Barbara, “I love you, but this isn’t your wheelhouse.” With that, Mark contributes the other $400,000 to Kevin’s original offer, wanting 45% for their $500,000 combined offer. Phil, clearly a skilled negotiator, countered at 40%, and adds that Mark and Kevin will have two seats on the board (and therefore control), while Phil would maintain stock control. Impressed by his reasoning and not wanting to lose their piece of the pie, Kevin and Mark agree to do the deal at 40%.
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