Kevin O’Leary On Shark Tank
Highlights
- Liberate was brought to the Shark investors by budding entrepreneur Olivia Bowser.
- Olivia failed to get any offer from the Sharks despite proposing a royalty deal herself.
- Kevin O’Leary bluntly reacted while rejecting the Liberate entrepreneur’s request for royalty.
Whenever Shark Tank viewers hear ‘royalty,’ the first name that hits them is Kevin O’Leary. Through his years of appearances as a Shark investor, Kevin has engaged the audiences with his love for royalty deals. Despite this, the Shark surprised viewers after rejecting a royalty proposal in season 13.
Aspiring entrepreneur Olivia Bowser made her way to Shark Tank with ‘Liberate’ in the thirteenth season. After struggling to bag an offer from the Sharks, Olivia asked Kevin O’Leary if he was up for ‘royalties.’ Giving a harsh response, Kevin slammed her offer and opted out of the investment.
Why Did Kevin O’Leary Refuse Liberate’s Royalty Deal?
Entrepreneur Olivia Bowser tried her luck in Shark Tank’s thirteenth season with her exuberant pitch for Liberate. Seeking $200K for 10% equity in her mental fitness studio, Olivia explained about her classes and curriculum. However, the Sharks did not seem impressed with Liberate’s idea.
The initial response of Kevin O’Leary was, ‘How the hell do I make money with any of this crap?’ Despite his blunt reaction, Olivia went ahead to explain Liberate’s subscription model and business figures. The response of the Shark investors did not change, though.
Citing the infant nature of Liberate and Olivia’s lack of scalability, the Sharks opted out of the deal one after the other. The only panelist left was Kevin O’Leary. Just like every other Shark Tank viewer, Olivia knew Kevin’s inclination towards ‘royalty’ deals. So, she asked him if he would offer a royalty.
On hearing this, Kevin O’Leary said, ‘This idea is going to zero. You will never make any money. You will never get an investor. Take it behind the barn and shoot it and do something else. I’m out.’
Is Liberate Still In Business?
Olivia Bowser failed to get a deal in Shark Tank’s sixteenth season despite her desperate attempts, including proposing a royalty deal to Kevin O’Leary. After the show, the entrepreneur managed to grow Liberate by taking her number of corporate clients to almost 200 by 2023.
Additionally, Olivia’s brand increased its number of instructors to about 10, who offered team-building services and one-time events both in-person and online. Based on her progress after Shark Tank, the entrepreneur was voted to last year’s Forbes 30 Under 30.
Apart from these, by adding new product lines and merchandise, Liberate became a ‘profitable six-figure business’ by 2024.
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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