‘Shark Tank’ review: Milk Snob, Chi’lantro, Toor, Jack’s Stands, and Chris Sacca
Tonight, we have another “Shark Tank” episode on the air, and with that, we’ve got yet another live review! This episode is going to be fun, since we’ve got four very-diverse products and to go along with that, the return of Chris Sacca as one of the investors. Based on what we’re hearing, he’ll probably be turning up again later this episode.
Be sure to refresh this page often, as we’ll have more news on the products and the deals as the episode rolls along. You can look at the links below if you want to be navigated over to the official websites for any of these products.
Milk Snob – This product is a multi-use cover that can be used for car seats, nursing, or a variety of other methods to keep your infant both comfortable and safe. Given that we’ve already seen Chris have an interest in infant-oriented products last season, we had to consider this a possibility for him.
Ironically, Chris did have an interest in making a deal with her — and even thought that didn’t actually happen, he ended up getting one of the products anyway! It turns out he was already familiar with Milk Snob going into the Tank thanks to social media. The entrepreneur instead went with Lori Greiner, who was her choice going in — and we understand why. You get this in front of infomercials and networks like QVC, and you’re going to make a ton of money.
Jack’s Stands – Could a ten-year old really come onto “Shark Tank” and get a deal for what was basically a modified lemonade-stand business? That would be all sorts of ironic, and therefore all sorts of fun. The funny thing is that they did get a deal from Chris, provided that he works to create some content online and develop more of a presence in that avenue. The deal was more of a loan than a straight equity, which is probably right since you don’t know what the precise long-term prospects are for a business fronted by someone so young.
Personally, we wouldn’t make this deal just because we don’t think it’s the right time. It’s an amazing story, but when you’re not even a teenager yet, there are so many other distractions and you don’t often know what you want out of life.
Chi’lantro – Hungry for some Korean BBQ? The moment that we started looking at this menu online, we certainly were! That’s just not a guarantee for a deal.
Luckily, everything about this was great: The food looked great, his presentation was great, and he had the data to prove that his business was worthy of a lop-level investment. Yet, most of the Sharks went out just because they weren’t that comfortable in the restaurant space. Luckily for Chi’lantro, Barbara Corcoran was on the show! She is someone who knows this business incredibly well, and had the proof with Tom + Chee as to how to run a franchise successfully. Sure, he gave up a little bit more money than he originally wanted to, but we really think it’ll be worthwhile since he got the ideal partner.
Toor – Was this the perfect innovation in the lockbox industry? Well, we didn’t quite know that there was a way to build a better mousetrap here. It’s not a business we are familiar with, but he did a really great job of trying to sell this. He made it clear what the use of the application was, while at the same time also showing that he understands real estate.
Herein lies the issue: His valuation was pretty crazy, and as Chris pointed out, keys are going away. Yet, Barbara (who clearly knows this business well) and Kevin O’Leary knew that there was still a lot of money to be made here, and went in with an offer with a big contingency that they made a big sale to a real-estate company. Seems like a pretty good deal all around, since if this works as advertised, it could end up being rather huge in that industry.
If you do want to see some other highlights from “Shark Tank” this season, our advice is fairly simple: Head over to the link here! (Photo: ABC.)