Tonight, “Shark Tank” is appealing to both kids and the kid in all of us. After all, you’ve got an advanced ice-cream cone, a magic show, and then ways to help make things easier and more convenient for parents. This, on paper, looks like it’s going to be a fun episode, and we’re excited to dive into precisely what the sharks think of some of these products.
As always, we are doing this episode LIVE. We’ll have further updates on the products and deals as the episode progresses!
Drip Drop – Will this really make the ice-cream cone even better? We love the concept of the disc in theory. We also like the idea to make this into a licensing ploy down the road. The real issue that we think faces these two teenagers is just that: Their age. They have other things to worry about, and it actually probably would’ve worked better for them to go in with a parent who was working full-time on the product. Luckily, it still worked out for them!
Barbara Corcoran is the only Shark who made an offer on it, and we definitely think that is the right partner given that she has worked with younger entrepreneurs before.
Jarrett & Raja – How does a magic act fare in the Tank? It’s not exactly something that we’ve seen before. It’s just unfortunately, most of these sort of pitches go really badly in the Tank because it’s really tough to convince investors to go after something that is largely spear-headed by individual talent. There’s too much risk. We don’t agree with Lori Greiner that these two should go elsewhere with their act; we just think that they didn’t do a good job selling what makes them different than other acts already on the strip. No deal.
KidRunner – Is this the right stroller innovation to hit the market? We do worry about being able to actually see your kid easily, but at the same time, we understand there is value … but it’s a select market. If we were a Shark, there’s no way we could invest in something when there are no pre-orders at present, the cost is pretty high, and there is really no way of knowing if people will buy. It’s almost like the magic act, but in the consumer products industry. No deal.
InchBug – Will this company make life easier for children and their parents? Well, the labeling part of this company is brilliant, but the MyDrinky innovation raised eyebrows in the Tank the moment that she first mentioned bringing it into retail. We certainly do get that, since we don’t really think juicebox-squeezing is actually that enormous of a problem. Also, most of the success companies have on this show is online. This concludes a bizarre episode, one where only two offers were made (Kevin tried a deal here, but it was refused), and only one as successful. No deal.
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