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

Recap of Shark Tank Season 6, Episode 2


Fans have been asking for more Shark Tank for six seasons, and on the night of the Shark Tank season six premiere, the Sharks delivered. After an exciting kickoff to the new season, fans got a double dose of Shark Tank with a second episode on the same night. In case you missed the action-packed second episode, here’s a recap of what went down in the Shark Tank.

First into the Shark Tank were Alice Brooks and Bettina Chen, representing their company, Roominate. The ladies asked the Sharks for a $500,000 investment in exchange for 5% equity in their girl-focused toy company. The women designed Roominate to empower female engineers and innovators, through a building-based toy with working circuits, spinning fans, and functional lights. The two originally became friends when they found they were two of the only female engineers at Stanford, and they hope Roominate will help instill the same curiosity about engineering in little girls. The Sharks are impressed to learn that Roominate has done $1.7 million in sales in 1.5 years, and are projecting $5 million by the end of 2014. To date, Roominate has only been sold online, but the women are in the process of securing deals with Toys ‘R Us, Radio Shack, Michaels, and Nordstom. Mark wants to make an offer, partially because he believes in the company, but moreso because he wants Alice and Bettina to serve as mentors and role models for his own daughters. He offers $500,000 for 5%, and Lori, self-proclaimed “Chick-starter,” joins his offer shortly after. Without a moment’s hesitation, the deal is done!

Last season fans met Lani Lazzari, founder and owner of SimpleSugars. After sealing a deal with Mark, SimpleSugars recently inked a deal with Desintation Maternity and is rolling out across 575 stores nationwide. After her last Shark Tank update, Lani had just hit $3 million in sales, and now she’s projecting $4 million more in the next 12 months. Congrats Lani and Mark!

Next into the Shark Tank is Tigere Chigira, or as his wife calls him, TIIIIIIIIGS. Tigs entered the Shark Tank looking for a $75,000 investment in exchange for 15% equity in his innovative mug company, The Floating Mug Company. Tigs came up with the idea for Floating Mug to remedy the coffee drips he was always leaving on the table. The “floating” mug captures drips in a reservoir below the mug, leaving surfaces drip free. While the Sharks seem to like the design and $105,000 in first-year sales, they’re less charmed by the current manufacturing costs of $12 apiece, though Tigs claims he’s moving manufacturing to China, which will bring costs down to $4/unit. Still, even then the product will cost $19.99, and the Sharks are concerned people won’t pay a 100% premium over standard coffee cup costs. With that, the Sharks are out.

Next up are Adrian Gonzales and James Cass, founders of Wedding Wagon, seeking a $125,000 investment in exchange for 20% equity in their mobile marriage company. Wedding Wagon offers casual and affordable wedding ceremonies on the go, officiant and photographer included. To show off Wedding Wagon, the guys “marry” Barbara and Kevin, who re-enact the KissStix kiss hear ‘round the world once more, for fun. The Sharks are surprised to hear that Wedding Wagon did $243,000 in sales last year, but then they learn that Adrian and James franchised the business and already sold off the Vegas portion of their business for just $125,000. Concerned that the men have already sold off their Wedding Wagon cash cow with the Vegas market, they respectfully all decline an invite to this Shark Tank wedding.

Last into the Shark Tank are Phillip Lapuz and Eric Williams, owners of Kronos Golf, hoping one of the Sharks will offer them a $150,000 investment in exchange for 15% equity in their putter company. Then men reason that golfers tend to put a lot more money into drivers, while putting accounts for half the strokes of an average golfer. They claim that their putter isn’t a miracle-worker, but that it will help golfers putt more consistently. At this point, they only have distribution in Japan and Scotland, because those markets can appreciate the art of the putter, whereas the US market requires a PGA spokesperson to generate interest in the club. Their cheapest putter, by the way, goes for $500, which leaves even the Sharks with their jaws on the ground. Just when it appeared that the Sharks were all going to pass, Phillip lays it out on the line with an impassioned plea about how the company is the only way he can prove his worth to his fiance’s parents, and to support her move from Japan to America so they can get married. Barbara likes his gusto, but only Robert makes an offer of $150,000 for 35%. The men counter at 25%, and Robert counters back at 30%. Asking Robert if he wants his putter now or later, the deal is done!

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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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