Furry Animal Kiddie Blankets, A Super-Quick Wine Chiller, A Bizarre Dating App – These Are Just Some Of The Fun Ideas On Shark Tank On Colors Infinity
The Startup world had Lucky number 5 calling the shots in episodes 11 and 12 of Shark Tank season 9 – the startups which stood apart were all offering a stake of 5% to the sharks! While some of the Startup founders found swimming with the Sharks (investors) in the tanks a breeze, some others didn’t find the going that easy. However, none of them were really eaten alive (read roasted) by the Sharks in these episodes of Shark Tank.
Inc42 in association with Colors Infinity is regularly bringing our readers updates from all that’s going on in the tank from Season 9 of the business reality show Shark Tank.
Slumberkins
If we go back in time and shuffle through the memories of our childhood, most of us would remember having a favourite soft toy to cuddle, play, and sleep with, a toy that went everywhere we went and made us feel safe.
Moms Kelly and Callie, both educators, have launched a startup that makes a range of cute furry hybrids between stuffed animals and blankets for kids. Made of the softest materials, the product is aptly called Slumberkins. Slumberkins plays in a niche market which has a steep price point. All of their sales have come through the sizeable following they have garnered by leveraging social media platforms.
The margins were not that impressive, but the founders found production partners overseas to bring the cost down by two-thirds. Now, they want to launch the brand with retailers and get these fuzzy little creatures in a lot of tiny hands. Kelly and Callie were on Shark Tank pitching for $175k for a 5% stake. Shark Mark Cuban thought that the product should remain niche so they can continue building it slowly with have more control over retailing it. Kevin O’Leary did not agree with the valuation but Lori Greiner found the offering unique but https://hookupdate.net/tr/ukrainedate-inceleme/ did not make an offer.
Slumberkins bowed out of the tank without any shark bites, but the founders did not look like they were going to stop until they achieve their mission.
Prontobev
Imagine you finally are on a date with someone you really like, you make all the right moves, and say all the right things, only to realise that the wine is not chilled the way your date would like it.
Enter startup ProntoBev, the world’s fastest wine chiller. As soon you keep a bottle in the chiller, the stainless-steel interior jumpstarts a rapid heat transfer process which helps the wine achieve the right temperature, depending on its composition. ProntoBev even comes with suggestions on what wines should be had at what temperatures and its built-in thermometer monitors the chilling. The chiller can cool wine by 20 degrees in just three seconds. Now, that’s really doing the job pronto, isn’t it?
Alexender Simone, the founder of ProntoBev, was pitching for $100k for a 5% stake. Daymond John was evidently livid with the valuation since the only little sales that ProntoBev had made were on a crowdfunding platform. All the Sharks opted out and it was up to Kevin, the resident wine connoisseur, to make his bid. He offered the money in exchange for half the company, which did not leave Alexander with any wiggle room to raise more money without losing control of his own company.
Mark, who had earlier bowed out and who is always against any founder giving up the control of their company so early in the journey, made an offer for 25% contingent on Alexander being able to raise another round with the same valuation. Kevin could not believe the deal was scooped right from under his nose, but then again everyone was happy they got to drink some chilled wine!
