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

Recap of Shark Tank Season 5, Episode 19

Spring is in the air and the Sharks are… well, just as bloodthirsty as ever. Missed the latest round of action in the tank? Here’s how it all played out:
First into the Shark Tank is Kent Frankovich, hoping for a $150,000 investment in exchange for 10% equity in his innovative bike light company, Revolights. Inspired by the inadequate side visibility of standard bike lights, Kent put his mechanical engineering skills to good use creating Revolights, a pedal-powered lighting system made with intelligent LED lights. By being placed directly on the front and rear wheels of bikes, Revolights are more efficient while also improving side visibility. The product is protected by two utility patents, and in 12 months Kent has done $600,000 of sales, almost exclusively online. At $139 to produce, Revolights are sold for $229/unit, however the company is not yet profitable. Daymond’s first to make an offer and he’s in at $300,000 for 30%. Kevin is next with his standard royalty-laden offer: $150,000 for 7% until his investment is recouped, and then 1% after that. Next Robert attempts to swoop in with a serious offer: $300,000 for 10% equity, twice the asking offer for the same amount of equity. Mark isn’t going to let Kent get away with such a wild valuation though: he doesn’t mince words when he tells the other sharks that Kent purposely undervalued the company and that he’s not there for the right reasons. Respectfully, Kent defends his asking valuation and says that capital is still an issue for the company, which is not yet able to pay it’s employees. While Cuban was still not impressed, Kent has great offers to choose from, and he makes a deal with Robert!
Speaking of two-wheeled innovation, last season Shark Tank fans met KaZAM bikes, a pedal-free bike designed to help kids learn to balance before learning to ride a traditional bike. After an impassioned plea that resulted in a business deal with Mark Cuban, KaZAM has done over $1 million in sales, and is projecting $2 million more in the next 12 months. Thanks to a deal with SkyMall, business is better than ever! Congrats!
Next into the Shark Tank is the couple looking to make a racket with their noisy company, Squeeky Knees. Lisa Evans and Ivan Barnes entered the tank looking for an $80,000 investment in exchange for 20% equity in their company. Squeeky Knees are soft squeaky pants for babies on the go. Or, as Mr. Wonderful so eloquently pointed out, their pants with dog toys in the knees that squeak as babies crawl around. As usual, the focus quickly turned to sales. The couple has sold over 500 units for a total of $10,000 in sales in about 3 years in business. Despite the couple’s best attempts to persuade them otherwise, the Sharks are just not convinced that Squeeky Knees will ever be a hit. They’re all out.
With a new spin on a classic task (literally), Michael Quinn entered the tank seeking a $75,000 investment in exchange for 25% equity in his company, Buffer Bit. Buffer Bit was born when Michael married a shoe polishing tool with a power drill, allowing him to achieve the perfect shoe shine at home. Buffer Bits cost $9 to produce, and Michael sells them for $19.99. While the Sharks are skeptical that men actually want to shine their own shoes at home (privileges of being Sharks, we suppose), Michael argues that “guys will look for any excuse to use a cordless drill.” While the Sharks are amused, Michael’s struggle to get Buffer Bit into big box retailers makes them hesitant to invest in the company at its current state. With that, they’re all out.
Last into the Shark Tank is Tim Talley with fun way for sneaker fans to accessorize their footwear, U-Lace. Tim asked the Sharks for a $200,000 investment in exchange for 25% equity. U-Lace offers an array of colorful elastic shoelaces that can easily be mixed and matched for different looks that allow users to easily customize their sneakers. Tim came up with U-Laces while on a trendspotting trip to Japan, industry lingo that quickly catches Daymond’s attention. Since ’09, Tim has tinkered with the packaging and pricing of U-Laces, and has now found the perfect combination.  For $3.49 a unit (that costs him only $0.35 to produce), most customers will by 6-8 packs at a time. And after Tim pulled in over $193,000 in sales through August 2013, the Sharks are definitely interested. His next step, with a Shark’s investment is to approach big box retailers to really take U-Laces to the next level. It’s clear Daymond is conflicted, but citing his existing sneaker company and that company’s recent acquisition, unfortunately he has to bow out under a conflict of interest. Kevin’s in, though, and he’s not even seeking any royalties; his offer is $200,000 for 50%. It’s not a done deal for Tim, though, who mulls it over and then counters back at $200,000 for 35%. Without even a moment’s hesitation, Mark Cuban pulls his signature move and swoops in with a steal, taking Tim up on his counter before Kevin can even say “You’re dead to meal.” Kevin never saw it coming and the deal was done with Mark Cuban!

About Author

Carolyn is a 20-something marketing professional from Chicago, and she's been working with InTheSharkTank since August 2011. Some of her favorite past Shark Tank contestants are Litter SF, REMYXX, and Villy Customs. When she's not busy live-tweeting the show, Carolyn likes reading on her Kindle, exploring the city, and getting in touch with her inner Betty Crocker. Google+

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