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

Recap of Shark Tank Season 5, Episode 29


From origami boats to sunken treasure at the bottom of the ocean (yes, really), the latest episode of Shark Tank certainly had some interesting businesses being pitched to the Sharks. So did anyone strike it rich? Read on to find out!

First into the Shark Tank are Anton Willis, Ardy Sobhani and Roberto Gutierre, owners of OruKayak, who asked the Sharks for a $500,000 investment in exchange for 12% equity in their company. OruKayaks are, well, origami kayaks. The kayaks are completely collapsable, folding into a briefcase-sized 26-lb package. In the 9 months since OruKayak’s inception, they’ve sold over 1,200 units at $1,100 apiece, and they’re projecting $1.4 million in sales by year end (2013). But even bigger numbers lie ahead: they’ve got their eyes on $4 million in revenue by the end of 2014. While the Sharks are impressed by the product, they’re concerned about the risk on the manufacturing side. Currently, the kayaks cost $505 apiece to build, and the guys are hoping to get that cost down to $350 in the next year. Still, Robert sees potential, and he makes an offer of $500,000 for 25%. The men counter at 20%, but Robert isn’t budging. Luckily, the men see the value in what he brings to the table and they take his 25% offer. The deal is done!
After a Season Four deal with Barbara, Cousins Maine Lobster has been turning their cold water lobster business into cold hard cash. During their last Shark Tank update they boasted $700,000 in sales, and they’re now up to more than $3.5 million and franchising their trucks worldwide. Congrats Cousins (and Barbara)!
For oenophiles looking to get their fix without the resulting hangover, Shark Tank’s next entrepreneur, Jayla Siciliano, has the perfect cure. Jayla entered the Shark Tank seeking a $150,000 investment in exchange for 35% equity in her premium wine spritzer company, Bon Affair. Jayla’s wines are the first premium wine spritzers made with california wines, premium sparkling water and electrolytes. And, at only about 6.5% alcohol content, she hopes they’ll appeal to wine lovers looking to avoid the negative effects of a night of over-indulging. While the wine-loving Sharks are skeptical of both Jayla’s claims and over the lower alcohol content, her $11,000 in sales in just 6 weeks are enough to make them reconsider. Unfortunately, Jayla lost 90% of her initial production run (partially funded by $450,000 contributed by her private investors) due to a leaky cap issue. She lost $100,000 in inventory, but is hopeful she can turn the company around and poise it for an acquisition down the road. In an effort to get down to the details, Mark starts firing questions about what Jayla truly needs to be successful. Her answer? Exposure and contacts. That’s all Mark needed to hear, because he’s in at $150,000 for 35% and without a moment’s hesitation, the deal is done!
Next into the Shark Tank is perhaps the most unique business venture we’ve ever seen in five seasons of the show. Mark Hargitt asked the Sharks for a $250,000 investment in exchange for 25% equity in his underwater treasure hunting services. Essentially, Mark found 1,200 tons of copper, silver, and gold ore in a sunken ship off the coast of Alaska. He’s filed a mineral claim with the state of Alaska for what he estimates to be roughly $2.4 million in minerals. While Mark has a plan in place to build an underwater inductor system to harvest all of the minerals, the Sharks aren’t convinced it’s a great business venture. For a variety of reasons, all of the Sharks are out.
Last into the Shark Tank is something sweet: Cinnaholic, seeking $200,000 for 20% equity. Couple Shannon and Florian Radke invented Cinnaholic custom gourmet cinnamon rolls to appeal to the sweet tooth of the masses. As usual, feeding the Sharks treats proves to be an easy way to butter them up (pun intended), and the $260,000 in sales last year sweeten the deal even further (pun also intended). But these sweet rolls are also hiding a dirty little secret: they’re dairy-free, egg-free, cholesterol-free and vegan, which means that each roll clocks in at about half the calories of their competitors. Shannon and Florian are hoping that a Shark’s investment will help them open another location and begin franchising stores. The fact that the Sharks are well-versed in the food space proves to be both a blessing and a curse. Barbara says she’s spoiled by the fact that Cousins Maine Lobster makes $800,000 with just a single truck, and Kevin smells a shipping deal similar to the (steep) offer he made with Wicked Good Cupcakes. Still, Robert is first to make an offer at $200,000 for 40%, but that money won’t go to creating another storefront, it’ll go toward packaging and shipping the rolls. The couple counters at 35%, but with a sideways glance at deal-stealing Mark, Robert takes a risk and sticks to his 40% valuation. Kevin comes in at $200,000 for no equity and no new retail location, and he wants a $1.20/unit royalty until his investment is recouped, and then $0.60/roll in perpetuity. While everyone seems to think Mark is prepping to sweep in and steal, he holds off. With no other offers on the table, the couple seals the deal with Robert!
Congrats to all of tonight’s entrepreneurs. What did you think of these latest businesses to venture into the Shark Tank?

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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