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

Recap of Shark Tank Season 5, Episode 20


It’s no secret that some of Shark Tank’s biggest successes came from pint-sized entrepreneurs. Just take a look at M3 Designs, for example. The latest episode of Shark Tank features four kid-preneurs looking for a Shark’s investment to take their business to the next level. In case you missed the latest action in the tank, here’s how the negotiations unfolded:

First into the Shark Tank is 15-year-old Carter Kostler, seeking a $100,000 investment in exchange for 20% equity in his business, Define Bottle. Define Bottle allows users to easily infuse water with their favorite fruits on the go. The three-part bottle keeps the fruit in one chamber, which allows the water to be infused, but the strainer keeps the fruit from floating to the top of the bottle. In just four months, Define Bottle has $65,000 in sales (50% wholesale, and 50% retail) and is projecting $200,000 in sales by the end of the year. He’s currently available in Whole Foods and David’s Tea. The bottles retail at $30 and the cost to produce is $10, with plans to move production to China and slice production costs in half. While the Sharks are impressed with Carter’s hustle, they have sticker shock over the $300,000 that Carter (and his parents) have put into the company to date. They also worry about the amount of competition in the market. Robert’s first to make an offer, and he offers $100,000 for 40%.  After discussing with his parents, Carter returns to tank and explains the assets that the company has, countering Robert at 30%. Robert unfortunately can’t accept the counter offer, and Carter leaves the tank without a deal.
After making a deal with Barbara during Season 4, 11-year-old Ryan of Ryan’s Barkery has grown by leaps and bounds. Thanks, in part, to a deal with Stew Leonard’s Ryan has grown his pre-Shark Tank sales from $900 to now over $70,000 in sales. He also has a new logo and more professional packaging. Congrats Ryan!
Second into the Shark Tank is 16-year-old Jason Li, seeking a $100,000 investment in exchange for 20% equity in his company, iReTron. The company buys consumers’  unwanted electronics and resells them. In the past 12 months they have made $40,000, which Kevin says, “in this industry, is an absolute nothing burger.” Understandably, the Sharks are concerned about iReTron’s competitors who already have a firm stake in the space. Jason says that iReTron is different from competitors because it’s a social enterprise that buys electronics the other companies won’t. While the Sharks are clearly impressed by Jason’s business smarts, but they have a difficult time seeing the investment opportunity in iReTron. Barbara, however, makes an offer of $100,000 for 20% with two contingencies: Jason gets the money on an as-needed basis, and she will also have a 20% stake in his other business ventures for the next five years. Jason asks if Mark would consider coming in on Barbara’s deal and he loves Jason’s hustle that the decision is easy. The deal is made with Mark and Barbara!
Next into the Shark Tank is 6-year-old Kiowa Kavovit and her father Andrew, seeking a $100,000 investment in exchange for 17.5% equity in their company, Boo Boo Goo. As a bandaid alternative, Boo Boo Goo comes in fun colors and can be painted directly onto the skin to protect abrasions from infection. The formula is patent pending and waterproof, however the Sharks are concerned about competitors who already make liquid bandaids. Kevin proposes a licensing play, which Andrew is open to, but Mark’s biggest concern is the level of education that the product requires. The Sharks love Kiowa’s adorable sales presentation, however they’re worried the product just won’t succeed. Still, Kevin make an offer, contingent on the patent, of $100,000 for 25%. With a smile and a nod from Kiowa the deal is done!
Last into the Shark Tank is 16-year-old Henry Miller, looking to introduce the world to a spicy take on honey with Henry’s Humdingers Spiced Honey. Henry entered the tank looking for a $150,000 investment in exchange for 25% equity in his company. After learning about colony collapse disorder at age 11, Henry asked for a beehive for his birthday and Henry’s Humdingers was born. The spiced honeys can be eaten with fruit, in drinks, or as a condiment. In the last 12 months, he has roughly $50,000 in sales, but the Sharks express concerns that the business isn’t growing fast enough. While Mr. Wonderful doesn’t seem to like the product or see the company’s potential, Robert is impressed with the taste. The Shark’s are impressed with Henry’s passion, but they worry that consumers may not want anything other than sweet honey. Mark sees something in Henry, though, so he and Robert offer $300,000 for 75%, based on the uphill battle of creating a new category. While Henry doesn’t look excited to give up majority share, he consults with the bees and they agree, he should accept!

What did you think of the kids in the Shark Tank? Let’s hear it!


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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