Credit: People
Highlights
- Explore the intense negotiations and dramatic moments where Sharks broke the rules and pushed boundaries to secure deals.
- Whether it be changing the show’s norms in Knife Aid or switching offers at the last minute in BootyBag, some episodes were full of epic pitches.
- Intense negotiations and creative inventions add up to the show’s appeal.
Reality shows and drama go hand in hand. Shark Tank’s story is no different. While the show is globally known for its business-focused content, many watch it to witness some dramatic Shark Tank moments.
For fifteen years, the show has presented a perfect blend of famous personalities, extraordinary innovations, and intense negotiations. It depicts the ideal American dream by showing how a business idea can turn into magic if the proper guidance and financial assistance are provided.
But sometimes viewers crave a fierce showdown among the Sharks or between them and an entrepreneur. Whereas, others want to immerse themselves in emotional meltdowns.
Below is a list of some epic pitches that showcased the most dramatic Shark Tank moments in history:
1. Knife Aid
Mikael Soderlindh and Marc Lickfett presented their modern knife sharpening service, Knife Aid to the Sharks. Describing it as an improved version of knife sharpening, they started their pitch seeking $400K for 15% equity.
Proceeding further, the two entrepreneurs detailed how to place orders using their e-commerce platform. They would ship the sharpened knives to California, sharpen them, and deliver them in 3-9 days.
The cost of sharpening four knives was $49, and it went down with new orders for extra knives.
The Sharks were amazed by the company’s online business feature and started proposing their investment offers one after the other. The first one was Lori, who offered $200K along with a $200K line of credit for 20% equity.
Next were Kevin and Rohan, who showed their interest in the business. Kevin offered $400K for 20% equity. Rohan joined hands with Lori to match Kevin’s offer. Barbara joined the negotiation by partnering with Kevin and made an offer of $500K for 20% equity.
But the most dramatic part of the pitch began when Miakel and Marc were confused by multiple offers, so they went out into the hallway. Lori followed them. Barbara promptly pointed “It’s against the rules.” Kevin replied to her saying, “There are no rules.”
For the first time on Shark Tank, every Shark (except Mark) stepped out into the hallway to convince an entrepreneur. The final deal, though, was locked with Lori and Rohan for $500K at 20% equity.
2. BootayBag
Elly Gheno, a budding entrepreneur from San Francisco, approached the Sharks with her company BootayBag, a monthly underwear subscription for women. Seeking $500K for 5% of the business, she described it to be an affordable, convenient, and comfortable way for women to shop for underwear.
In the pitch, she listed the many benefits of BootayBag and compared it with traditional shopping in malls. Elly then elaborated on its functioning by pointing out the steps one by one. Based on your choices, one pair of underwear will be delivered for $10.
Regarding the financial aspect, Elly revealed that the sales made in the year to date (2020) were $3 million. Additionally, the lifetime sales were $15 million. The Sharks were hugely impressed when they heard this and started making offers one by one.
Guest Shark Kendra Scott offered $500K for 10% equity, Barbara offered $500K for 20% of the company, and Kevin followed with his offer of $500K for a 15% equity stake. Hearing this, Kendra and Barbara joined hands and modified the previous offer to $500K for 20% equity.
But then came the most dramatic moment: Kendra felt that Elly wasn’t satisfied with her new offer. She ditched Barbara and went back to her previous offer, $500K for 10% equity. Elly happily agreed.
Barbara was shocked and asked Kendra, “Did you just abandon me?” Kendra replied, “Yes.” This is how the last-minute change in the offer raised the level of drama in this episode.
3. EZC Pak
Sarath Makepati, an aspiring entrepreneur from the medical field, went to the tank pitching EZC Pak, a natural alternative to antibiotics. He came up with the product after witnessing an increasing trend in patients’ developing resistance to antibiotics.
He started his pitch by giving a live demo, presenting it as a severe threat to global health. He used cartoon characters named Barry Bacteria and Victor Von Virus and engagedly described the antibiotic overuse issue.
He then explained how EZC, with its physician-formulated immune support composition, can be a saviour. The investment sought was $125K for 5% equity.
Lori was the first one to ask for samples. Sarath offered the Sharks the same, and they liked the packaging. Robert and Mark asked him a few questions related to the product and the idea behind it. He said that the healthcare industry had become highly consumer-driven. Mark disagreed and said that family history is important.
After this, Lori revealed that she had been using antibiotics excessively and that she was interested in natural products. But then she felt that Sarath was disrespecting her by constantly looking at Mark even though she was showing her interest in the product.
Lori even said that she “sensed chauvinism” and angrily stepped out of the deal. This is how the drama flared to an all-time high in this particular episode. Towards the end, the deal was finalised with Kevin at $125K for 5%, along with a royalty of $1 per unit until $450K is recouped in three years.
Conclusion
Shark Tank has emerged as a standout reality show owing to its high-stakes negotiations and intense dramatic moments. From last-minute betrayals to unexpected alliances, the show’s history rests on a variety of epic pitches and Shark Tank moments. These moments, where deals are both broken and made, manage to keep the audiences on the edge of their seats.
References
1. ‘Shark Tank’: How this founder turned $300 into a company that did $15 million in sales in 4 years, CNBC, Taylor Locke
Entrepreneur, auteur, raconteur. Rob Merlino is a blogger and writer who enjoys the Shark Tank TV show and Hot Dogs. A father of five who freelances in a variety of publications, Rob has a stable of websites including Shark Tank Blog, Hot Dog Stories, Rob Merlino.com and more.
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