Ready for a new “Shark Tank” episode? We’ve got four products entering the Tank for the first time tonight, plus an update of the Signal Vault, a unique product that has already made some noise since leaving the Tank. It’s a simple concept that goes a long way, and there’s something that the other products in this episode can learn from.
As with every other episode of the show that we’ve reviewed over time, we’re going to be presenting some further updates as the show goes on! Be sure to refresh the page as each pitch comes to a close.
Sworkit – Is this the perfect way in order to customize your perfect workout? It’s a great idea, and even though the valuation is high, there is a great model here for how they make money. Mark Cuban is the perfect partner for this company, and we don’t know why in the world they didn’t go with him the moment that he presented his offer. It’s exactly what they need, and he’s the sort of partner who will take them over the top.
Clean Sleep – Is this a great way to clean your mattress, or too difficult to make a profit off of? Maybe it’s both, for good and for bad. We really like the idea, and think that there is money to be made if you convince people out there this is something that they need. The problem for the most part here comes in that you have to figure out a way in which to earn more money back, and expand with more franchises in a way that is quick and efficient. There’s a reason why many non-food businesses struggle on this show, and it’s because they are so tricky to scale. No deal.
Tutublue – Will consumers be interested in buying this “beach suit”? The Sharks did point out that there are some great practical uses with this product, but there are a myriad of problems with it, as well … starting and ending with the money and also how long the company’s been in business. There’s just no proof-of-concept that people want them, and they’re selling at too high a price point for most people. Also, this presentation exposed something that not enough investors think about: You can’t change the money amount you ask for in the Tank. Had she went in looking for $50,000, she may have gotten that as a flyer. No deal.
Nohbo – Is this a great innovation when it comes to shampoo? We have to admit that we were pleasantly surprised by all of this. Going into the show tonight, we didn’t think this eco-friendly shampoo ball had a chance based on the lack of sales and having to convince the customer that this is something very new. However, we were super-impressed after listening to the presentation, and there could be something here if this young kid behind the brand continues to hustle in the way that he is. Her certainly won Mark over. It’s an odd episode, given that Mark is the only person to make an investment tonight.
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