The “Shark Tank” premiere is here! This means an opportunity to see a variety of interesting products, sharks, debates, and stories that may actually inspire you … sometimes. Sometimes, the stories are a little hokey.
If you’re joining us for the first time tonight, what we do is give you our take on some of the products shown off, along with links to take you to each company’s official website, that way you can check out the product yourself without any trouble.
Sleeping Baby – Wait, they named their boy Maverick? Make an investment, Mark! We don’t usually like sad stories in the tank, but at least theirs had a nice ending.
There are a ton of baby products out there, and we don’t really love these pitches because the products have a shelf life. The Zipadee-Zip is designed to make sleeping easier and more comfortable for babies, and in turn better for parents who have to deal with said babies. As a whole, we actually understand the purpose here and if it helps all parties sleep, it actually seems to be worth the money. Seeing them get a deal with Daymond John ultimately seemed right for what they want to do.
Hammer and Nails – We do see the business being something that could get a little bit of traction, at least in some big cities where there are enough men who would actually go to a salon. The problem we see here is that guys aren’t going to think about spending their money here; this is a luxury if there ever was, and there was a little element of “I want my new business to succeed, so I’m going on this show” feel to it. Not enough experience in this field. No deal.
Amber charging station – The product actually looks really nice, and we understand that there is a need to charge your phone on the go. The problem? There are already dozens of other cheap alternatives to this. Maybe this would help 2% of people who go to a bar, but it’s a $2,000 solution to a phone problem that really does not exist in the first place. No deal.
Bombas – “Better socks with a better world.” It’s a great slogan, and they also appear to be high-quality sports socks. The problem here is that while there may not be as many quality athletic socks as there are shoes, there is still competition. The margins and the sales are okay, and we like most of what they are doing. The problem? A high valuation. It took them halving their valuation in order to even get Daymond interested, and he still wanted more equity in order to make this work. They still got the deal, despite that it took them a whole lot of time to make it happen.
Which one of these products was your favorite tonight? Share with a comment below, and head over here to get some further updates on the show, including a review for the second episode tonight. You can also sign up now to get further scoop on all we cover via our CarterMatt newsletter.