Shark Tank Highest Offer Ever Made

St.Alpine · Sep 16, 2012

Hi guys,

I thought I share this gem with you.
I've never seen any Shark making a higher offer than that.

[video=youtube;7CiqPJ32y70]http://www.youtube.com/watch?v=7CiqPJ32y70&feature=g-vrec[/video]

Capitalism at its finest.

PatrickP · Sep 16, 2012

That was a great show. That guy really stuck to what he was looking for.

Was it the right decision? I wonder how he is doing now. Anyone know?

St.Alpine · Sep 16, 2012

Was it the right decision? I wonder how he is doing now. Anyone know?

I would like to know if this is in US hospitals now.

1PercentStreet · Sep 16, 2012

First Defense Nasal Screens - Breathe Cleaner Without Medication

They're in Amazon and a few other stores from what I can tell now.

Great episode though!

PatrickP · Sep 16, 2012

I believe he was saying the big market is in the Arab countries because of the sand.

Did he say he had a multi million dollar contract or order?

XavierYZ · Sep 16, 2012

it was a very large order over 6 years, the order was in the millions, at that point all the sharks got very interested, but prior to sharing that information they thought it was a joke.

sam22 · Sep 16, 2012

I remember that. Thanks for sharing!

P.S. Don't know how many of you watched Friday's episode. Here's one Silicon Valley VC's (from Lightspeed Ventures) take on it and what he thought of the deals: Lightspeed Venture Partners Â» A Silicon Valley Take on ABC’s Shark Tank

AgonI · Sep 16, 2012

i think this was the best episode of the show

the guy was smart too, he knew what product he had and its potential. I would like to know how far they've gotten the product to

MikeC · Sep 17, 2012

That's awesome.

It's amazing to see the difference. Most people go into the show way over-valuing their company and have no results and they never get funded. This guy goes in with a proven business and they're showering him in money.

Likwid24 · Sep 17, 2012

I actually bought these about a month ago because we have a mold problem in the gym in my firehouse. I can't help to work out when we're not busy but I was getting sinus problems from breathing that crap in. I remembered this episode on Shark Tank so I looked it up and purchased a 7 pack.

While they do work, I don't think they are intended to use during any physical activity at all. They were fine when I first put them on. As soon as I started to pick up the intensity, breathing became much more difficult and I had to breath through my mouth. So I guess their good if your just hanging around not doing much. If you plan on doing any activity at all, I advise against them.

sharky · Sep 17, 2012

Over 6.5 million people watched the season 4 premiere

PatrickP · Sep 17, 2012

How does that compare to the other 3 big networks at the same time slot?

sharky · Sep 17, 2012

I don't know the other networks numbers specifically, only that shark tank easily beat the others in their time slot.

andviv · Sep 17, 2012

I think many entrepreneurs with a proven concept and business already going on go to the show for the exposure as they know they will probably get a crappy offer, if at all.

After all, they are SHARKS. Get it? Sharks like in, We are going to eat you alive.

No?

oddball · Sep 17, 2012

I watched it on Hulu last night and I have to ask, do some of these people just come in and wing it? I mean, I've seen every episode from season 1 on and people still come unprepared and unrealistic. When they do that they should already know the outcome. If you can't prove you will make the Sharks money, they won't invest, its pretty simple.

MJ DeMarco · Sep 17, 2012

sam22 said:
P.S. Don't know how many of you watched Friday's episode. Here's one Silicon Valley VC's (from Lightspeed Ventures) take on it and what he thought of the deals: Lightspeed Venture Partners Â» A Silicon Valley Take on ABC’s Shark Tank

FASTLANERS! This is a must read -- tons of "Fastlane takeaways" all in about a 3 minute read. (Speed+)

In fact, for serious Fastlaners building enterprise businesses (companys that might take months to years to build out) this article could MAKE or SAVE you MILLIONS.

This is a classic example of focusing on scaling up before product-market fit has been achieved. The founder had not thought about his go to market approach, he had not researched competitors, and he had not done any market testing because it wasn’t convenient for him (wrong time of year – too hot in Indiana, so he didn’t bother). This business school student made the classic mistake of mistaking an idea for a product for a business plan. He thought that all be needed to get the investment was to charm and entertain, when what he needed to do was convince.

The issue here is that this is likely to be a bit of a fad product. Now fad products, like the Slanket, can be incredibly profitable, but they don’t generate enterprise value.

With this level of interest, the entrepreneurs should have known that they had room to negotiate. Entrepreneurs should never take an exploding offer with such a short deadline. It suggests desperation on the part of the investor. They want to force you into a quick decision, likely because they are worried that a higher offer may be made by someone else. But if they want in so badly, they will still come back later on, just as this Shark did.

socaldude · Sep 17, 2012

MJDeMarco said:
FASTLANERS! This is a must read -- tons of "Fastlane takeaways" all in about a 3 minute read. (Speed+)

Having the VC's perspective is an awesome way to learn Fastlane principles and Lessons.

This is why other than TMF ; I zealously preach the book: Venture Capitalists at Work: How VCs Identify and Build Billion-Dollar Successes: Tarang Shah,Sheetal Shah: 9781430238379: Amazon.com: Books

FULL of Fastlane lessons and principles, a MUST read for anybody who is serious. Just came out. highly recommended.

Jonleehacker · Sep 17, 2012

oddball said:
I have to ask, do some of these people just come in and wing it? I mean, I've seen every episode from season 1 on and people still come unprepared and unrealistic. When they do that they should already know the outcome. If you can't prove you will make the Sharks money, they won't invest, its pretty simple.

I met the guy who does the selection of who gets to go on the Canadian version of the show and he told me that they pick people for one of two reasons: 1 the presenter has a great business idea and/or is very professional, or 2 pure entertainment value. The producers know that it makes good TV to sprinkle in a certain percentage of clueless people just for the sharks to tear them apart.

socaldude · Sep 17, 2012

Jonleehacker said:
The producers know that it makes good TV to sprinkle in a certain percentage of clueless people just for the sharks to tear them apart.

I suspected that. My favorite is "Coffee Brand Gifts". LMAO. ZERO sales and and a HORRIBLE idea. :smilielol: I was like poor guy he should of read TMF .

[video=youtube;zUVVv9lOdDs]http://www.youtube.com/watch?v=zUVVv9lOdDs[/video]

Or this one. Man I feel really bad for these people putting in 6 DIGITS of their life savings into a flawed business idea :smxE:.

[video=youtube;AZKf8-8IO-U]http://www.youtube.com/watch?v=AZKf8-8IO-U&feature=relmfu[/video]

andviv · Sep 17, 2012

Jonleehacker said:
The producers know that it makes good TV to sprinkle in a certain percentage of clueless people just for the sharks to tear them apart.

Chum!!!!

PatrickP · Sep 17, 2012

How about the guy that wanted to sell sock not in pairs but 3 at a time so if you lost one you still had a match?

St.Alpine · Sep 17, 2012

andviv said:
I think many entrepreneurs with a proven concept and business already going on go to the show for the exposure as they know they will probably get a crappy offer, if at all.

Second that!

I love Kevins quote on the coffee guy: "I wanted to fire him, he doesn't even work for me."

On one side its sad, but on the other these stories are so eyeopening. Initial market research is so important,
before ever thinking about product.
And: sales cures all.

socaldude · Sep 17, 2012

The Coat Check in Startup idea on the first episode on season 4 was HORRIBLE IMO. I was shocked that Mark Cuban made an offer. I can't believe an Entrepreneur Finance professor would cheer that on.

There is a local start up in my area that does AUTOMATED dry cleaning KIOSK in the middle of commercial shopping plazas. When i first saw it i thought it was BRILLIANT. WHY? More VALUE! 24 hour access. convenient hours. Less overhead. cheaper prices. faster service. Every time i pass by the kiosk it puts a smile on my face. The self serve automated thing is always jam PACKED.

PatrickP · Sep 17, 2012

That AUTOMATED dry cleaning KIOSK is really interesting.

So you put your clothes in there and it dry cleans them right there? Or you drop them off, someone picks them off, brings them to be cleaned, brings them back and you pick them up?

socaldude · Sep 17, 2012

PatrickP said:
That AUTOMATED dry cleaning KIOSK is really interesting.

So you put your clothes in there and it dry cleans them right there? Or you drop them off, someone picks them off, brings them to be cleaned, brings them back and you pick them up?

It cleans it right there. The mini-mini building thing is about 10X12 feet with glass windows. Its pretty neat, you can see all the mechanics and clothing on the rails. Brilliant idea. It's always packed every time I drive by it. I love it. Its a perfect example of taking a pre existing concept and just making it better to deliver more value.

andviv · Sep 18, 2012

socaldude said:
It's always packed every time I drive by it.

Genius idea. The fact that is always packed tells you more of these are needed. I do see the need is filling.

socaldude · Sep 18, 2012

andviv said:
I do see the need is filling.

I do see this as the next big thing. Its 10pm and you need your suit cleaned for an emergency meeting tomorrow? Drop it off and pick it up early next morning

. And its cheaper because of less costs. More VALUE. I'm thinking about maybe competing =). Can I execute better? hmmm

PatrickP · Sep 18, 2012

Do you have to sit there and wait as it cleans your suit?

I don't know why I care, I never have to get dressed up as I work at home

It just seems so strange to me. I KNOW people actually drive to work. I KNOW they have to dress up to go to work. It just so strange/weird/dumb to me having been working at home for so long.

andviv · Sep 18, 2012

PatrickP said:
I never have to get dressed up as I work at home

So you are saying you don't suit up for your board meetings with yourself?

sam22 · Sep 18, 2012

St.Alpine said:
Initial market research is so important,
before ever thinking about product.
And: sales cures all.

True true.

I think from the last Shark Tank episode we can see that in general if you have a good business then traction + potential = investment.

Coat Chex - no sales (no traction), unknown/low potential (seasonal business) - 1 offer
Bev Buckle - $340,000 in sales, some potential (interest from various retailers) - 3 offers
Body Walking - 30 sales over 4 years (essentially no traction), two Sharks said “Potential is not sales.” - 0 offers
Beddy Bugs - $150k in sales in six months with $100k in profit, huge potential ($5 mil offer for trademark & patents) - all the Sharks were in.

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