Friday night marked the season finale for “Shark Tank,” and with that we saw some of the best and craziest inventions of the entire season within the span of one hour.
With that in mind, check out the product list for the episode — which included an energy drink, some environmentally-friendly sneakers,
Cougar Limited – Ryan Custer came up with a rather interesting idea with this pitch — an energy drink that was catered to a specific demographic of women, and it provides a number of health benefits.
The problems? Not only did it apparently taste “like chalk” (per Barbara Corcoran), but not every woman really wants to be referred to as a “cougar” — and thus, this pitch was really dead the moment he walked in the door.
REMYXX – This was a bit of an interesting idea. The sneaker business is definitely competitive, but what this product brings to the table is that the shoes are 100% recyclable. The problem? He is asking for $50,000 for 10% of the company … and he has not made a single sale.
To make it obvious how bad things looked early on this week, Kevin O’Leary (who may be our new favorite reality TV star) told founder Gary to burn these shoes to keep him warm during the winter. The biggest problem with the pitch as a whole was simply that there was nothing keeping from a bigger shoe company from watching this pitch and then developing their own product.
Nonetheless (and after a very emotional negotiation), Gary ended up accepting an offer from Daymond — even if he did give up 80% of his company for $50,000.
Update – Remember EZ VIP? Well, Daymond has taken this “buy VIP nightclub passes online” business to the next level by hiring Pitbull as a spokesman. Pitbull is appropriately a god.
Nitroforce Titan 1000 – Could this product be the new Bowflex? Based on the argument from the inventors, that seems to be the case — but based on them valuing their business at $2.5 million, they are absolutely insane.
While the knowledge of personal training is clearly there, it’s an issue how big this product was, how expensive it is to sell to consumers, and it doesn’t really bring anything that new to the table. They didn’t get a deal.
UniKey Technologies – This is definitely an interesting bit of technology here. You can basically use your mobile phone as your key! This really has been planned out pretty well by founder Phil Dumas, as you can even send out “keys” via your phones in order to allow other people to enter your home at a given time. (Of course, we do still wonder what happens if someone steals your phone — though there’s something likely in place for this, too, even if you have to get to another phone first to make it happen.)
The biggest problem really with this technology is that, outside of helping out a friend who arrives home before you, it’s really not that convenient. Its price point is $100 more than the average lock, and it is still recommended that you keep your key with you in case your phone dies.
The asking price for the business was $500,000 for 33% of his company, but many of the sharks were quick to bite. The best offer came courtesy of Mark Cuban and Kevin O’Leary, who offered $500,000 for 45% of the company — in addition to all of their resources. Meanwhile, Robert Herjavec gave a massive offer of a million dollars — but for 75%. Thanks to some smart negotiating, Phil was able to get Mark and Kevin down to 40%, mostly because he offered each of them places on his Board of Directors so that they would have control of operations. It was one of the first times that every shark wanted in on a product, and Phil definitely is going home happy.
What was your favorite product pitched this week? Ultimately, we’re going to miss “Shark Tank” — it’s one of the most engaging shows of its kind, and we don’t know what we’re going to do with our Friday nights anymore.