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

Shark Tank Seas. 1, Ep. 2: A Pear By Any Other Name…

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Craig French leaves with Crooked Jaw, without $200,000

Shark Tank episode 2 started out with Craig French from Long Island NY and his company Crooked Jaw. Crooked Jaw is a clothing company that targets fans of extreme sports and Mix Martial Arts. Craig started the company after he broke his jaw playing rugby freshmen year of college. Craig wanted $200k for a 20% investment in his company. CJ is being sold in 10 mom and pop shops in Long Island, after attending a tradeshow they received no orders. Daymond (the founder of Fubu) said he was one in ten thousand (nothing new) although he had great energy and passion he was not willing to invest. All the sharks were out.

Lifebelt patent owner, Robert Allison, seeks $500,000

LifebeltRobert Allison was next into the Shark Tank. Lifebelt is a device that would not allow cars to start without the seatbelt being buckled up. Traffic accidents are the number one killer in the country. Lifebelt cost around $229 installed. Robert wanted $500k for a 10% stake in the company. The sharks were wondering why he was even bothering with creating a product since he owned the patent he could just enter a licensing deal with a major car company. He was worried that it would take to long, he believed his major problem was that no one knew his product existed. Kevin H, Daymond and Barbara were all out. Kevin O offered $500k for 100% ownership of the patent, Robert countered for $1 million but for the same percentage. He turned both offers down. Personally I would have tried to negotiate for a royalty deal, but it’s not my business.

Susan Knapp wins $500,000 for A Perfect Pear

Perfect PearSusan Knapp was the next entrepreneur to take a dip in the tank. She was looking for $500k for a 15% stake in her company, A Perfect Pear. Her company sold gourmet food products such as jam’s. A Perfect Pear was sold in 650 stores and had sales of $700k with $100k in orders that she was not able to fill. Banks were unable to lend her the money to fill the orders because of the credit crunch. Kevin O offered $500k for 70% then Daymond offered $500k for 51%. Kevin H and Robert offered the full amount for 50%. Susan counted with 49% but The Sharks would not accept, so she accepted Robert and Kevin H’s deal. Although she gave up more than she wanted, she gained a huge amount of business experience which should help her company get to the next level.

Mary Ellen Simonsen pitched her odd product Sticky Note Holder (great name). She was looking for $100K for 20% equity in her company. Sticky Note Holder was basically a larger sticky note that other sticky notes could be posted on the side of a laptop. She was hoping to sell them for $10 each, she had no patent and had only spent $1k on the product so far. The male sharks thought the idea was useless and were all out. Barbara said it would sell on a QVC type show, but was not willing to invest. This was not a real product, it was an idea… and a useless one at that.

Classroom Jams owner Marc Furigay seeks $250,000 for 10% share

The last in front of The Sharks was Marc Furigay and his product Classroom Jams.Classroom Jams Classroom Jams is an educational record label and publishing house. He was looking for $250k for 10% equity in his company. Marc is a teacher who was having a hard time relating Shakespeare to his class. He composed songs that helped his class relate to Shakespeare. The song was actually pretty good, a class set with 30 CD’s and a teachers guide would sell for $499. Shakespeare is the most taught playwright in the English language but Marc had plans to expend to different subjects. The Sharks talked about the deal together, and offered $250k and 5% royalties, but he would have to give up 100% of his company. Marc wanted to be one of the partners. Robert then offered $250k for 100% with an option to buy 49% back with the profits from the business, but there would be no royalties. Marc still wanted to have a deal with all five sharks so Robert sweetened the deal for the same price but this time lowered what he wanted to 51%. Marc rejected Roberts deal and wanted the royalties from the first deal increased to 8.5%, The Sharks said no but agreed to let him use his royalties to buy into the company and become a partner with The Sharks. This was one of the best deals of the season, I have no dough this company will be a success.

Next Week on Shark Tank

“Episode 103” — An entrepreneurial newbie comes to the Shark Tank with high hopes for her kitchen accessory, but her presentation is less than stellar. Will the Sharks shred her vision to pieces or will there be a Shark fight to get a piece of the idea? A passionate stay-at-home mom (Lori Lite from Marietta, Georgia) with her own line of self-published children’s books seeks much-needed funds to grow her business. Also, a father and son business team impress the Sharks with a revolutionary new musical product, but their need to control could derail the opportunity to make a fortune, on “Shark Tank,” SUNDAY, AUGUST 23 (9:00-10:00 p.m., ET) on the ABC Television Network.

Take a look at Crooked Jaw’s audition video:

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8 Comments

  1. More than half a brain on

    I can’t BELIEVE that Lifebelt guy actually turned down one million dollars! And IMO he turned it down for all the wrong reasons. He already did the hard part (getting the patent), and the Sharks were willing to do the rest. What was the problem?

    I am happy for that Perfect Pear lady and the Shakespeare guy, though. More so for the Perfect Pear lady because I would get her product, and she didn’t take forever to seal the deal…

  2. This show is amazing, I hope it actually does well so I can watch it every Sunday 🙂 I think the sharks can be a little on the mean side when they see an idea that just doesn’t seem to impress them. They were especially mean to the sticky note lady. Although I agree with them on their general position, they were extremely rude. That woman took it very well though, and that alone is an important attribute for someone who is looking to run a business. You can’t let emotions get the best of you!

    On the other hand, although the Sharks can be ruthless, they are for the reason that they do not think a product or business idea could make money. This doesn’t mean they are always right, but 95% of the time they probably would be, and they would be doing the presenter a favor as hard as that may sound. The looks on some of these people after rejection are heartbreaking though, although, it is important to learn how to take rejection and not get over emotional such that it hinders the ability to move on. But being stubborn about a failed business model is a sure way to drive into bankruptcy.

    Anyway, great show, and I hope it doesn’t get canceled…it is one of the few shows I actually would be willing to watch on TV!

  3. Hey, thanks for this website – I was looking for some Shark Tank recaps, and there you were.
    Appreciate it.

  4. I’ve had the fascinating experience of pitching Kevin Harrington several products in the last few years. WOW! He’s an amazing person….and certainly a true SHARK. The feeling you get walking into his “shark tank” is something you need to feel….if you have an idea or product that is infomercial-worthy.

    If you are serious about making it big, and you dare to walk into his shark tank in Clearwater, Florida and pitch him your next big idea…..iI just want you to know that it’s possible to do! You can setup an appointment to pitch your product and find out what you’re made of.

    Here’s a summary of steps that walks you through the checklist you need to complete for getting to meeting Kevin:
    http://www.ehow.com/how_5334332_contact-kevin-harrington.html

  5. If you have a million dollar idea, don’t hesitate to pitch it to Kevin Harrington directyly. However, you have to be buttoned up with an excellent plan for success.

    I’ve pitched several ideas, and actually had 1 success! Check out The Kevin Harrington Infomercial site: http://www.kevinharringtoninfomercial.com to get started.

    Good luck in your journey! Reach out if you need a hand…. or have any questions.

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