Original subtitles

Tonight on "Shark Tank"...

Sharks, which of you are ready to...

...jump in and make a big splash with us?

What are your sales? $400.

That sucks. You're making zero.

We put all of our money, we got a HELOC loan,

$300,000 on our house.

Dang. You're coming in here to solve a pain point.

You don't have one.

Everybody who I went to said

there's no way that you can make this.

So what's your vision? What's your dream?

Protecting my investors.

That's the biggest mistake that you can possibly make.

It's also a bloody distraction.

First in the Tank is a tool

that makes beauty products more effective.

Hi, Sharks. My name is Dawn Myers.

I'm from Baltimore, Maryland, and I'm asking for $150,000

for 10% of my company.

Okay, guys, as you can see,

I have a head full of crazy curls.

But unlike Beyoncé -- and I saw you at that concert...

I was there. ...I do not wake up like this.

Okay, for me, it takes about three hours to do my hair.

You heard that right. Wow.

For people with highly textured hair, it's beautiful,

but it's complicated.

It takes forever, it makes travel impossible,

and it takes all of this to get the job done.

But not anymore.

That's why I developed The Mint,

a patented 3-in-1 styling system

that makes the process of styling curly hair faster,

easier, and healthier than ever.

This is how it works.

You simply load your pod.

Think of them as coffee pods,

except for your styling products.

And you let The Mint gently warm and condition your products.

That's where the magic happens.

Then you streamline the process of detangling

and applying your liquid products to get the easiest,

fastest, most juicy curls of your life.

Sharks, this isn't just about beauty.

We're solving a deep pain point

in the lives of 50 million Americans,

and we plan on making a lot of money while we do it.

So, Sharks, who's ready to create a world

where curls and kinks are catered to with The Mint?

Fantastic. Thank you.

So, I have curly hair. Not that you'd know today. I know.

It took me exactly six hours to get ready for this.

That's right. But it's the same thing.

So you're going to say that this can work

on any hair texture imaginable? That's right.

So, I very specifically designed this

to work on 4C hair.

That customer is super underserved.

They spend the most money in the market.

Yes, they do. They're the trendsetters in the market, right?

So I wanted to make sure that

they had a product that worked for them.

However, what we've seen is that people with looser curls

can benefit from this technology as well.

Emma, what's 4C hair?

So, 4C hair is when you've got, like, the most like curl --

like the most coarse hair texture, right?

So it's like the super, super curly hair.

But what you're saying is it's actually going to, like,

pull the curls out, right? Yeah.

It's just that it's a styling tool.

That's right. And just to be clear,

the product that's going in the pod,

currently, you don't sell.

What you're selling is the tool...

That's right. ...with an empty pod,

and then I'm putting in my own product.

That's exactly right. Got it. Alright. I just want to be clear.

Can I buy multiple serum cartridges from you?

You can. And in addition to that,

we're also in talks with Major Strategics

about co-branding those pods with their products.

How much do you sell it for, Dawn?

We sell it currently for $400.

What?! $400?!

I know. Come on, give it to me. Give it to me. I'm ready.

I'm ready for it, Sharks.

You are Dyson prices. What is happening here?

So -- So there's a story here.

I bet there is.

A hell of a story.

Right now, we're charging $400

because we had such a small batch of products.

Obviously, our COGS were huge.

How many was it? It was 100 units.

Well, that's nothing. Wow. Nothing.

So it was really difficult for us to do.

What does it cost you to make just 100 units?

So to do 100 units, it was $120 per unit.

But now we've got a handle on assembly,

so we've got another batch in China

right now that's on its way here.

For that batch, we're looking at a $60 landed cost.

Nice. You brought that down.

Why? Because we're able to offshore --

Are you going to keep the price at $399?

No. So -- But wait. But wait. You said you've sold out, right?

Yes. So if you're only getting them

in relatively small batches,

why would you not keep the price?

That's a really good question. Of course it is.

So we want to focus on this pod, right?

The real seller of this is this bottle.

No, I know, but it's still a limited number.

So I get the more of these you sell, the more pods you sell.

Yeah. But how much does the pod sell for?

We're selling them in batches of six on a subscription basis.

They're $6 apiece, and $36 per month.

As you guys know, hardware is hard.

It's really expensive.

It took us $1 million

to build and test and prototype and test --

It did? $1 million?

Yes. Talk to us about that.

I could absolutely see it.

How did you get that money?

What a question. Can I tell you the whole story?

Yes, please. Please do.

Okay, so I do not come from a beauty or an engineering

or a manufacturing background at all.

I'm a lawyer by training,

but hair has always been an issue.

So when I was a little girl, my mom is Black,

but my stepmom wasn't.

And so when I would, you know,

leave to go to my dad's for the summer holiday,

I would leave the house looking great.

And then I would go over to my dad's house

and he didn't know how to do my hair,

and his wife didn't know how to do my hair.

And so I would just have like a ball of fluff on my head

for the rest of the summer.

What people sometimes don't understand is that

this hair issue is really,

really emotional for this consumer, right?

It affects our confidence. Right.

It affects how we walk in the world, right?

Fast forward to 2017. Guess what I'm watching?

"Shark Tank." "Shark Tank."

And it's the episode with Tara Brown

and the Sleep Styler. The Sleep Styler, yeah.

Yes, and so what I said is,

"What if I build something for this pain point

that I know nobody is serving?"

Put together this really rudimentary prototype,

and I started applying to accelerators and incubators

and pitch competitions.

Everybody who I went to said,

"There's no way that you can make this.

Regular people don't make tech-enabled hardware."

I got so many no's, so many no's,

and it's taken five years to build this product.

I ended up selling my home.

I eventually would liquidate

my 401 so that we could build this.

That's how you got the million. You're all in.

I'm all the way in. Do you own the business 100%?

I do not. We raised $1 million in venture-backed funding.

And, Dawn, how much did you sell in equity for the million?

Yeah. So we have convertible notes.

Once those notes convert, I will still have 72% of the company.

Good for you. Wow. Okay. That's pretty good.

You are amazing. You are a dynamo.

Let's talk about the business.

Yes. You're planning to sell them for what?

So with this smaller COGS, with $60 COGS,

we're planning on selling at $200 per.

Why $200 when you were getting like -- Didn't you test...?

Yes, but we want to rope people

into this pod subscription. No, you don't.

Not when you make that much money.

Yeah? Right. It's not like a $10 difference.

That's cash in pocket. This is really helpful. Thank you.

Dawn, I think you're going to figure out what you're going to

sell it for pretty quickly.

You've got to get a lot more units.

I think you need a Shark with hair, on this deal.

So... Basically.

...I'm going to do the graceful thing and bow out,

but I have a feeling that this might work out for you today.

Thank you. That means a lot.

Dawn, you're a phenomenal entrepreneur,

but it's really not my space. Sure.

I just don't know a lot about the product.

Thank you for teaching me about it, but I'm out.

Well, you are so impressive.

My gosh. I mean, honestly, you are.

I have one major challenge for me.

I am in the midst of working on a type of device for hair,

which I am concerned would be a conflict of interest... No.

...if I go to this.

For those reasons, I'm out, but I will be watching. Thank you.

Ooh. More encouragement, but no money. I know.

Yeah, I'm sorry. I have a conflict. It's okay.

If I didn't, I'd be in.

Dawn, so, just talk me through this for a second.

I just need to hear what is the plan for this business.

Because you've only sold 50 units.

That's right. So we're early stage,

but we're early stage and we're sitting across

the table from Procter & Gamble and L'Oréal right now.

But what are those conversations?

Yeah, so they want to do a strategic partnership

where we co-brand these pods.

So the model here is that you're going to, like,

have this piece of hardware... Yes.

...and you will sell a co-branded product-based pod

that is going to be the insert into it. That's right.

So we would come onto your site,

I'd buy the piece of hardware, and then I'd be like,

"I use X, Y and Z product.

I'll do that, that, or that."

Exactly. It's a revenue share, fundamentally.

That's right. That's exactly right.

It's also a bloody distraction,

and that's the bit that's getting me right now.

Okay. I just want to be really honest with you...

Please. ...because I actually see the need for this product.

When you've got curly hair, you are so specific.

When I do my curly hair, I use like five different products in.

A bit for the ends, a bit for the middle,

something for the roots. Yeah.

I'm turning over, and then I have

my stage one and my stage two.

It's just a whole drama arena, right? Yeah.

And I just think with something like this,

this should be what you're talking about. Okay.

Like, to do the other thing, like maybe in five,

six, seven years' time, but you need to get out there,

establish that this is the thing for curly hair.

Then we can talk about all of the other stuff. Period. End of story.

Period. I just don't feel like you should muddy the waters

at this early stage. That's really good feedback.

That's really good feedback. And I get how other investors will tell you

you want renewable revenue.

Boy, but you sell these pods,

then you have an ongoing subscription revenue stream,

and that's all marked -- No.

When you are disrupting an industry,

focus on the disruption,

because then you hope somebody comes to you and says,

"Let us pre-fill them and sell them for you."

So much great advice. Is there an offer coming?

I think we should make an offer.

Alright. Alright.

Three Sharks are out.

Emma and Mark are Dawn's last chances for a deal

for her hairstyling tool company, Richualist.

I'd really like to give you an offer,

Because I just think you're so spectacular.

And I just understand this.

Like, I know that I would go home and use this product.

Me, too. Like, I completely get it.

As does Mark. We've been discussing it over here.

Yes. So you asked for $150,000 for 10%?

Yes. And I think that we would be willing

to offer you that $150,000,

but we'd need 20% of the business.

Wow. But you get two Sharks.

My gosh.

My gosh!

Well, what do you say?

I'm just saying. Thank you.

In the spirit of protecting my investors...

We have investors at an $8 million cap,

and I came into the Tank --

There's a difference between a silent investor

that's just writing you a check

and somebody who's probably already saved you

a lot of money and a lot of effort.

But it's your choice to make.

It is my choice to make.

Well, do you have any flexibility?

I'm not feeling that flexible.

You're not feeling that flexible?

I'm not. I'll tell you why.

Because I just know what is happening with this business.

And you are going to have to go out, raise more cash.

We're going to be diluted, and I feel like the value,

I mean, it's sitting right here in front of you.

Okay, so what are you going to do?

...my friends, in the interest of doing my best

to protect my investors, would you be willing to do 15%?

No, but we can do the extra 5% as advisory shares.

That works, Mark.

20%.

It seems they don't have any flexibility.

I am going to make this deal.

Obviously, I'm making this deal. Yes, you are. Yes, you are.

Yes! Of course.

Boom goes the dynamite.

My God. My God!

So good. Emma, thank you so much.

Thank you! I'm so happy for you.

You're amazing. You're so amazing. What an amazing girl.

You killed it. Man!

And, Lori, I would not be here

if you hadn't made that deal with Tara.

Thank you for seeing women's innovation.

Thank you for supporting her.

Thank you for supporting me indirectly.

My gosh. I'm humbled, and thank you for sharing that.

That means the world to me.

Thank you. Thank you, guys, so much.

Congratulations, my love.

Good job. What a sweetie.

I got a deal with Mark and Emma.

I'm so excited to get started.

I've worked so hard for so many years.

I've bet on myself,

and now that Mark and Emma are betting on me, too,

I know we're gonna blow this up.

Earlier this season,

15-year-old Nathaniel Wellen made a deal with Robert Herjavec

for his innovative umbrella for two, The Duo.

A second hidden, adjustable handle

so that two people of different heights

can share the umbrella at the same time.

Let's see what he's up to now.

There is no competition for an umbrella with two handles,

because simply no one's ever done it.

As a kid entrepreneur, it's challenging because

while you get a lot of credit for starting at a young age,

a lot of people won't take you seriously

just 'cause you're a kid.

The truth is, you really need a team to get things done.

We've now become a very important part

of the umbrella world.

I'm so happy to have a partnership with Shed Rain.

They make over 15 million umbrellas every year.

When I aired on "Shark Tank," we just had one prototype.

Now we're doing our first order of 10,000 umbrellas.

We've also been able to secure commitments from Target,

REI, Nordstrom, and Macy's.

Plus, you'll be able to buy The Duo on Amazon and Shed Rain.

For me, being an entrepreneur has nothing to do with age,

so for any kid entrepreneur who's interested

in starting their own business, you have nothing to wait for.

Go for it.

"Shark Tank"!

"Shark Tank"! "Shark Tank"!

One of the greatest things about our show

is we see young kids who we inspire.

Earlier this year, we held a high school sweepstakes

where four students got to do a video chat

with their favorite Shark.

I was just trying to win pins, and I got a trip to L.A.!

And one grand-prize winner gets to come to Los Angeles

to see us film live.

And today we're at Nathaniel's high school

to talk to students about entrepreneurship.

This is going to be awesome.

Inoculate yourself against failure,

because that's the number-one thing

you're going to have to deal with as an entrepreneur.

I love the overwhelming interest

that these young kids have towards entrepreneurship,

and "Shark Tank" really is a big reason why.

You now have the power of social media.

And not only that, you're all masters of it.

You're never too young, and I think it's great

to encourage these high schoolers

to start a side hustle while you're in school.

This is an empowered generation.

They can start businesses right out of their basements

the "Shark Tank" way.

There's so much hope in this country,

and I just think people want to do better,

and we just give them that platform.

15 years of making dreams

and magic come true for kids and all kinds of people,

and it's so gratifying to be a part of something

that does good in the world,

and let's do it for another 15 years.

"Shark Tank"!

Next up is a product

that takes multitasking to the next level.

Hello, Sharks. My name is Mark Tsigounis.

I'm a US Navy veteran from Truckee, California,

and today I'm seeking an investment of $150,000

for a 5% stake in Hibear.

Now, insulated bottles are fantastic

for, well, carrying water,

but they're really not so great

if you're trying to make any of your own beverages on the road.

This...

is the all-day adventure flask.

You can craft all your favorite beverages,

from cold brew to cocktails.

Sharks, let me show you how it works.

This one's in pour-over mode.

Just add a coffee filter, coffee grounds,

a little hot water in the top,

boom -- pour-over coffee.

If you're decanting a bottle of red wine,

there's a screen in the middle that'll aerate your wine

and catch you the sediment

that you don't want in the bottom of your glass.

Shaking cocktails?

Ice in the bottom, cap on your cocktail shaker.

Fill the top with margarita, head to the barbecue.

This is the filter basket.

This is for tea, infusions, and cold brew.

Just fill it halfway with coffee grounds,

screws to the center of your cocktail shaker,

and then fill the top with water.

And 12 hours later, you are crushing

super strong cold brew.

This is the thermal core.

This is for keeping beverages like beer and white wine cold

without diluting them with ice.

Also doubles as a muddle

so you can get smashy with limes and mint.

The sleeve is removable

so it doubles as a mug for friends and dogs.

Wow. Amazing.

And everything nests neatly inside, so there's no clutter,

and it's simple enough to be your everyday water bottle.

So, Sharks, who's ready to join us on an adventure

that turns each day into a celebration?

I don't think you're doing enough with the product.

Thank you! Is there no more features?

Just when you thought no one

could do anything more with a water bottle...

Yeah. ...you just created something so innovative and unique.

Thank you so much. Yeah. How did you come up with them, Mark?

So, I spent 15 years in retail finance

and decided my life needed a change.

I was a thru-hiker on the Appalachian Trail,

hiked 2,186 miles from Georgia to Maine.

At once? 107 days.

Wow. Yeah, yeah.

You're on this trail... Yeah.

...and you say, "I need the James Bond water bottle."

Because you're hiking so far,

the things that you carry need to do more.

But, Mark, this is not just for serious hikers.

This is for any camper or anyone, right? Boom. You got it.

Yeah. It also makes the perfect corporate gift

because you can customize this thing.

You have seven different color blocks here.

You have the under art. We can do the box.

So, how much does it cost you to make it

and what do you sell it for?

So, our cost of goods will be $15.50,

and then the artist series, which you all have here,

is $95.

Wow. Mark, how does that actually

compare to other water bottles that are on the market?

It's expensive as hell. That's a fantastic question.

So on the top end of the market right now, you have,

$59 for like a 36-ounce Yeti.

Okay. So we're on the top end,

but you're getting 10X the functionality

of anything else that's out there.

This is the most premium you could possibly charge.

It is the most premium.

But we operate in three different channels --

D to C, retail, and corporate sales.

Break it up for us. Corporate sales are 40% of our business.

Really? What are your sales?

Collectively, we've done $745,000 of sales.

Wow! Hello, dear. Over which period?

So we launched on Kickstarter in the year 2020.

We delivered in 2021.

What did you do last year? Last year we did $320,000.

So next year I'm projecting that we'll do $1 million.

And then we're going to launch Amazon next year.

You're not on Amazon?

We're not even on Amazon. Did you raise any money?

Is there a debt on the business? Yes. Yeah.

So right now we have $200,000 in debt.

So you need the cash now. Yeah.

I want to go back to the numbers for a second

because you said retail is a significant portion of --

No, no. I'm sorry. So, retail only represents

25% of the business. Still, that's a chunk.

So the margins are pretty good

if you're just selling direct to consumer.

Why do you need retail at all?

A few reasons.

Retail is extremely valuable to a brand that's new

because consumers aren't familiar with it. You --

Part of what you need to do

is just you need to be next to, like...

I'm going to argue that. ...all those other outdoor brands.

Mark, you see this on a retail shelf,

you have no idea what it does. What it does. Yep.

This says absolutely nothing. Yes.

So you have to be able to demonstrate it.

I'm arguing to you -- and I want to hear what you say.

I'm pushing back a little bit. Yeah, yeah, yeah.

The plan is to actually sell this direct

to consumers at full margin,

because online you're able to explain

what you just did here on "Shark Tank."

Yeah, of course. Otherwise, I would look at this and say,

"This is the most expensive water bottle I've ever seen,

and it makes no sense for me to pay $95 for it."

Yeah. Yeah. And at the same time, they're not paying you

and you're giving margin away to a rep in the middle.

Yeah. You're making $0 in retail,

and a lot of grief and misery.

I mean, our markup is 2.13, like,

in a retail environment, or 50%.

So you have to stay in retail?

Not that I have to stay in retail,

but why wouldn't I be there when it's just another --

'Cause I want to make money! I'd like to make money!

Kevin, but you forget his numbers, right?

He pays 15 bucks for one of these, right? Yeah.

That's your cost. He's got good margins. Right?

So if he just walked in and said, "I'm selling to retail

for $30 and it cost me $15," we wouldn't argue a whole lot.

But what percentage of your business is retail?

25%.

Why are we even talking about this?

It's a quarter of the business.

Mark, so what's your vision? What's your dream?

Like, let's understand what you feel is right

for your business. Yes, so...

what I want to do is, is we want to expand the line.

But you're not profitable yet, are you?

No. We're not. Why do you want to expand the line

before you make money on this thing? Well, let him explain

what he wants to do.

We want to fill in the price point.

Because just like in -- in luxury goods,

they have a model that's called good, better, best, right?

Like, not everybody's going to go out

and buy, you know, the thousand dollar bag.

But you have to establish -- Look, Mark.

You've invented a really interesting product.

Yeah. And you're trying to figure out how to sell it.

Yeah. And the challenge you have right now

is that it's too complicated.

Online, actually, you'll make it a little bit easier to sell

because they always show the product comparisons.

Yep. But I think it's going to be really,

really hard to scale a lot.

And so for those reasons, I'm out.

By the way, do you know

your customer acquisition costs online?

Um, the last paid ads that we did,

our customer acquisition costs through Google was $52.

If that's true, we're not making any money.

Per order.

Per order. Yeah.

Mark, I really admire what you've done,

but it's a little bit early stage for me.

I think you're still trying to figure out the product market.

So for those reasons, I'm out.

But I wish you the best of luck with it.

Thank you, Emma. Appreciate it.

I'm just a straight numbers guy on this deal,

and tell me if I'm wrong

anywhere in this stack of numbers.

Sell it for 100 bucks.

Customer acquisition cost was $50.

Leaves me with $50.

I got to make it. Call it $15.

Yeah. Leaves $35.

That's the whole model.

So I would prefer to just have a guy stand in front of me

saying, "I make $35 every time I sell one.

That's all I'm going to do for you.

You just have to give me $150,000,

and I'll make four, five, six X on your money."

But I didn't hear that story.

I'm not into this deal. I'm out.

Mark, I really, really like you.

I've been trying to get my head around it.

I think it's a novel product, but it's a fanatical product.

Wish you all the best, but I'm out.

Um...

there's a million water bottles,

and you were very clever.

Props to you for having made something quite unique

and, I think, very smart.

But I'm not ready yet to invest. But I wish you good luck.

So I'm out.

Very clever, Mark.

Yeah. Good luck. Thank you so much.

Taking my water bottle and going home.

It's been a magical journey, and it doesn't stop for me here.

And I can't wait to engineer

and do new and exciting products for --

for not just adventurers and outdoor enthusiasts,

but for everybody.

Next up is an innovation to help ensure

you always safely feed your baby.

Hi, Sharks. I'm Veon. And I'm her husband, Sean.

We're from Fort Lauderdale, Florida,

and we're seeking $150,000 for 15% equity in our company.

Honey, hurry!

The baby just woke up and it's feeding time.

Grab the fresh bottle I just pumped!

I have no idea which one is good!

No. How long has this one been out?

Check the Sticky Note!

Sticky Notes. Right. Yeah.

Sticky Notes?! They're everywhere!

Everywhere except for the bottle.

Sharks, breast milk is liquid gold,

but it doesn't last forever.

So to make sure your baby has fresh, safe milk,

you've got to track how long it's been sitting out.

So parents are left manually tracking their expiration times.

We used to use Sticky Notes, spreadsheets.

Even the back of our hands. But, Sharks,

pumping breast milk takes time, and buying formula costs money.

That's why we created... - Veba.

A smart baby bottle monitor

that attaches to any bottle and tracks expiration

of breast milk or formula.

Here's how it works -- you simply prep the milk

and slide the Veba onto the bottle.

From there, it tracks the temperature around the bottle

at all times and sends an alert

when the milk is expiring.

Parents can even track the expiration time

by shaking the bottle.

It automatically detects feedings

and sends that information back to the app

so parents always know that baby is eating enough.

So, Sharks, who's ready to shake up the baby industry

and milk this deal?

In front of you, Sharks, are the Veba devices

and baby bottles for you to take a look at.

I remember these days.

We have spent two years actually developing the product,

building it, and we launched five weeks ago.

Congrats. Wow.

Thank you very much.

And our son was actually the inspiration

for coming up with the idea.

During postpartum, I was juggling work, you know,

taking care of the baby, doing so many things

and having to track my breast milk manually.

And then one day, after spending 40 minutes pumping a bottle,

I lost track and had to throw it away.

So give us how long the shelf life is of mom's own milk.

So four hours at room temperature.

In the fridge, it can stay for up to four days.

But the catch is that once a baby drinks from the bottle,

the saliva mixes with the milk and accelerates

the expiration time.

At that point, you've only got two hours

to use the leftover milk.

You can't put it back in the fridge and extend it?

No. You don't put it back in the fridge.

Well, you know what? That explains a lot about my kids.

That just sucks.

Yes, and so that's also why it's so important

that we can detect feedings

because it automatically changes the expiration time for parents

so they literally don't even have to think about it.

You have to break this down for me a little bit.

As a mom of four kids,

I've never, ever had an issue around this.

I'm not quite following the need.

So, it is a big problem.

So the number-one thing is that also women

who are under producers are not even producing

milk enough to feed their baby for one day.

So that's also a pivotal time where it matters

if you have to throw a bottle of milk away.

But do I need multiple devices,

then, to keep on all the different little vats of milk

that I have in my fridge? Yes,

so it would require a device per bottle.

How much do these cost? What does it all cost?

It's $89. $89.

What does it cost you to make?

It's $45 right now.

I'm going to be able to get that down 30%.

Does it come with one or multiple bands for that price?

- It's just one band. - Just one band.

And let me go back to just a basic about this product.

Yes. I've just pumped this. Here's my bottle.

I'm going to now put this on the bottle.

Yes. And then what do I do?

So you just hit the button on the device

and it immediately starts tracking the elapsed time.

Okay, so that's it. Yeah.

So in the app that we've developed,

they're able to see how much time is left across all bottles.

It's also temperature.

So, if breast milk is exposed to over 95 degrees,

it accelerates the bacterial growth.

We're from Florida, where we know there's only one season

all year long. 95 degrees.

Yes, if we're on the go, if we're going to the mall,

that device, if we leave the bottle in the car

or even if we're at the playground,

it'll actually ping your watch and tell you the breast milk

is no longer safe to consume.

It has expired.

You're going to need multiple devices

to make this actually make sense.

Our average customer's purchasing two at a time.

You mention customer.

Let's talk about this,

because it doesn't matter what we think,

it matters what the customers think.

What are your sales like? Yes, absolutely.

So we, as I mentioned, launched five weeks ago

and we have $3,000 in sales since launch.

How many users do you have right now?

So, we have a total of about 70 users on the app.

How much money have you spent to get to this point?

That's a total of $350,000. Wow.

We put all of our money.

We got a HELOC loan, $300,000 on our house.

Dang. We put everything into the app

and in creating the product.

And so that took about two years of development

and also, most importantly, safety testing.

So, guys, what is the plan from here?

What are you going to do with the 150 grand?

So, for that amount, we want to put into marketing.

For us, if we can activate that base with marketing,

that's going to put us -- and scale us.

We have $178,000 worth of merchandise ready to go.

Yes. How many units?

There's 2,000 units. 2,000 units.

2,000? Alright. 2,000.

Yes. And we're selling them from our garage.

Boxing them up, getting them out to customers.

Have you raised any money? Yes, we have raised.

We have a signed SAFE for $1.5 million from a private investor.

Wow. And outside of that,

we do have the first investor from Techstars,

and we just signed a private investor last week.

-That's a lot of support. -Wow.

I'm gonna just be really honest with you,

because I have four children,

and you have these plastic baggies,

you write on the baggies, you defrost,

it goes into the fridge.

For a cost-conscious mother,

$89 and needing 2 or 3 of these ain't that great either.

So it is great, because in total,

if you add up the $5 per ounce,

48 ounces a day, you're talking $90,000 a year.

You're presuming that you're actually wasting 100%.

Yes. Your device isn't stopping breast milk from going bad.

It's alerting. Right.

So you've still -- you're not --

you're not getting rid of the problem.

You're just creating an alarm

for when the problem is about to happen.

To me, this just feels like another unnecessary purchase.

Thank you, Emma. I -- Honestly, I just want to say,

for those reasons, I'm out.

I cannot wrap my head around it.

Thank you, Emma. I do appreciate it. Yes, sir.

I have five-year-old twins,

and I don't remember this as a problem.

And I remember a lot of problems.

So for me, I'm out.

From a mom's perspective,

I can understand where Emma's coming from.

From the absent-minded dad perspective,

I can see the value.

But you're being way too literal in trying to sell this.

Okay. Right?

You're trying to make this about saving money.

Don't. Yes.

That's the biggest mistake that you can possibly make.

But during that emotional time when you're trying to get a gift

for a new mom for their baby, perfect.

Go to places for baby showers,

where people who buy the gifts --

But all that said, it's really not a fit for me.

Yeah. So for those reasons, I'm out.

Yeah, I do want to also add that the feature

that's been the most popular with our customers

is the Find My Bottle feature.

Are people losing bottles?

Yeah. They end up in the most random places.

Well, a baby just chucks it.

Yeah, we find bottles under car seats.

You should search, Robert. Maybe you have.

Let me take a stab at it.

This narrative you're having right now

is exactly the challenge you face in acquiring customers.

It is worth also saying we've been approached

by big box retailers already, actually.

At this point, you don't have the margin for retail.

But look, that's your own decision.

I would not do that, but... Yeah, so --

...it doesn't matter what I think because I'm out.

Yes. Thank you so much. Thank you, sir.

And Lori?

I think that for first-time parents,

they're going to want this more per se than second-time parents.

But you are so early, I mean, for me.

Yes. I wish you good luck.

I think you're lovely, and I love what you've done,

but it's just not an investment for me at this time.

I'm sorry. I'm out.

Thank you so much. Awesome. Well, thank you, everyone.

-Good luck. -Good luck to you.

Congratulations for what you've done.

Good luck, you guys.

Thank you. Thank you.

We didn't get a Shark today,

but we're very confident in our product. Yes.

And, you know, we hit everything

that we wanted to say,

and so we walked out of there confident.

And we know that this is just the beginning for Veba babies.

I love the product. I hate the margins.

I'll give you the $75,000.

I don't want any equity.

I want a dollar from every jar.

A dollar?

Silence, please.

The first royalty deal in "Shark Tank" history was mine.

Wicked Good Cupcakes.

I want a dollar from every jar until I get my $75,000 back.

Which means you have to sell 75,000 jars.

Alright? And then I want it to drop to $0.50 in perpetuity.

How was I going to get my money back?

And it hit me. Bing! Royalty!

Come to mama!

It changed the world forever.

All the other Sharks copied me.

They begged me for that brilliance.

I like my deal,

and I'll sleep tonight with a cupcake beside me.

Next up is a family business

with an easier way for kids to have fun in the water.

Hey, Sharks, I'm Ashley.

And I'm Karen, her mom.

We are from Goodyear, Arizona,

and we are seeking $200,000 for 5% of our business,

Splash Place Swim Goggles.

Sharks, that's how quickly a fun day at the pool

can turn into a nightmare.

You're at the pool and you have to deal

with upset kids because their swim goggles break,

or they're just too tight and uncomfortable.

And the worst part is, is they tangle and pull out your hair.

I knew there had to be a better way, Sharks.

That's why I created Splash Place Swim Goggles.

Fed up with buying my kids new goggles

that they wouldn't even want to wear,

I got the idea to make my own.

But instead of using harsh rubber straps,

I designed Splash Place Swim Goggles with super soft,

stretchy fabric straps.

Wow!

As you can see, Ayden and Jayla

are having no problem putting on their swim goggles

and there's simply no more pulling and tangling your hair.

So, Sharks, which of you are ready to...

...jump in and make a big splash with us?

Good job. Aww. Well done, guys.

Ashley, are those actually your kids?

-Yes. -Aww!

Sharks, you all have some samples

in front of you.

- Thank you, guys. - Good job, guys.

-Aww! -Aww!

Good job, guys. These are very --

I mean, just picking them up immediately...

This is so soft, so stretchy.

You can tell, super comfortable.

I am -- Every time my daughter puts the --

she hates it, screaming, gets caught up in her hair.

That's my daughter. Yeah,

I'm always like, "Why can't somebody invent

better goggles?"

Very clever. Here, they did.

- Here, they did. - It's really good.

This is amazing for kids. I'm doing the same.

Swimming lessons with my children at the moment,

and it's a nightmare.

- This is so good. - A nightmare.

So, Ashley, the innovation

- is on this back strap. - Yes. Yep.

And why don't people knock you off right away with this?

We are patent-pending currently.

Is there anything else out there like this?

Not with a swimsuit-style fabric.

And one thing kids like, the designs.

We have like over 25 designs,

and they like that they can choose their own designs. Wow.

Well, the designs are great.

I mean, you guys are great.

Tell us, how did you come up with this?

Previously, I had a sewing business that I had started.

Um, I had, um...

a son that passed away when he was six weeks old. I'm sorry.

I'm so sorry. So, one year after his passing,

my kids' dad, he suffered like a severe brain injury.

And so I started the sewing business during that time

to be able to provide for our family,

and I also had to stay home to be able to take care of him.

And so when we were getting ready for a vacation,

my son brought me his goggles broken

and I just didn't want to go buy more goggles, really,

and so I, um, decided to make my own strap for them.

Ashley, I'm so sorry to hear that. Yes, Ashley, I just

wanted to say that, too. Like, that is an unimaginable...

unimaginable pain. So sorry for your loss

and for your hardship.

You turned it into such a positive thing.

Yeah. Yeah, she's the strongest person I know. She is.

Well, that's obvious.

So, um...what about sales?

So, lifetime sales are $6.1 million.

Whoa! Yeah!

Now you're talking!

That just squeaked out really quiet with really big news. What?!

Are you kidding? Like -- Like, walk --

Walk us through the sales. Over what period?

So, we started in May...

May of 2017.

What did you do last year in sales?

$1.75 million.

Wow! Bloody hell.

And this year? What will you do this year?

Um, we should do $1.8 million.

And are you profitable? Yes.

And how much are you making?

This year, we've done $378,000 in profit.

-Wow. -Wow.

How are you selling these? How are you selling these?

We're on Amazon, and then we also have a website.

And we're in a lot of wholesale --

We sell internationally, and also we're in swim schools,

a lot of boutiques, a lot of resorts. Who did all that?

Yeah. What's your team?

Is it just the two of you?

Yeah. Only the two of you?

We have 14 women, stay-at-home moms,

that we contract with them to make the goggles.

And then we have two part-time employees --

So, you two are -- you two are full-time running this thing?

And you're making them just through contract--

contracted women that are local to you?

Yeah, so they assemble... That's amazing!

You're the best. That's incredible.

And it's a win-win situation

because we help them, they help us.

What do you sell them for, Ashley?

So we retail the regular goggles for $21.

They cost us

a little less than $3 fully assembled, ready to go with.

With the sewing and everything?

Yeah. You guys are amazing!

My God, that's just so amazing.

You need to write a book on this. I'm serious.

Ashley, this is pretty good.

That is really good!

Yeah, we feel like, you know, she's had a lot of tragedy

in her life, but we felt that this...

Nothing tragic here.

This has been such a blessing, you know,

to be able to provide for her and her -- you know,

and then, you know, we get to work together.

Every entrepreneurial ste--

Every entrepreneurial stereotype that entrepreneurs

come in and tell us that they can't do,

you just stood on their head and did it.

You're making it locally. You're profitable.

You're growing.

- Thank you. - And, you know,

what's kind of lovely is you both seem so humble about it.

Where was the first sale? Online, or...?

Online, yeah. Online, yeah.

Just on your website.

How did you create the awareness?

Yeah. Like, what marketplace?

We just launched our website, and I shared it

on a moms, like, Facebook group originally.

And we -- I don't know, I think we probably had

100 orders our first, like, day.

Unpaid social. You drove sales with unpaid social.

Our lifetime spend on advertising

is less than $150,000.

Unbelievable. That's just amazing!

You two are unbelievable.

That's just crazy. So what do you want the --

You guys are my heroes.

What do you want the $200,000 for?

Um, we do want to make a couple other molds of goggles,

and we are also, like, negotiating with larger

brick-and-mortar sporting goods stores.

Guys, who owns this company between the two of you?

We own it 50-50.

And so you've never brought in any other investors?

No. Good for you.

How much money did you have to put in?

So we each put in about $2,400.

Then one of our first orders, I loaned the business $4,000.

Wow. It's so good. So good.

You paid Mom back?

Well, guys, I don't know how to add anything to this.

This is a -- This is pretty rare for "Shark Tank," because...

What's your weakness?

...usually you're coming in here

to solve a pain point.

You don't have one.

When you bring in an investor,

all of a sudden you've got a new responsibility

because your investors want returns.

And so, you know, that would put a new pressure on you.

I don't know why you would do that to yourselves.

You don't need anything.

All Sharks are still in, but Kevin questions

whether it's in Ashley and Karen's best interest

to take on an investor for their kids goggle company,

Splash Place Swim Goggles.

You're coming in here to solve a pain point.

You don't have one. You don't need anything.

I wish you the best of luck, but I'm out.

Okay.Can I ask you, what do you need?

So, you know, what -- what do you feel is your weakness?

What do you need from a Shark?

Um, just the mentorship as we, like, explore

going into, like, larger brick-and-mortar.

I mean, we don't have experience in that at all.

And whether that's even a good idea,

because I know sometimes,

you know, big retail isn't always the best.

And so probably guidance in that.

Yeah, 'cause it's not like you

went through this horribly tragic time

and built a $7 million business on your own.

I absolutely could not love the product more.

I will be a huge customer.

As an investor, I tend to look for things

that are going to be a little more expansive.

I'm out.

Thank you. I appreciate it.

Listen, I just want to be a part of your journey

because I think you're amazing and I think

I can give you the value add that you're looking for.

Um...

I'll give you the $200,000 for 10%.

Okay.

Yeah. What...?

Would you do 7.5%?

I'll do 10%, and I'll tell you why.

Because you really want me to be invested.

You want me to be carrying you.

You do, guys. She would be amazing.

My entrepreneurs call me like anytime, day or night.

I'm there for them.

And that's why I think it's worth it for me.

I want to feel good about my time,

and I want to be able to give you the best time.

Wanna do it? Yeah.

You have a deal. You have a deal.

Yay!

Good one!

Thank you guys all so much.

Well done. Congratulations.

We were so excited to have you. You are amazing!

Congratulations, guys. Thank you all.

Congratulations.

Our deal with Lori is going to really be amazing.

We'll be able to grow and have her expertise and wisdom.

It's going to be really amazing. Yeah.

We did it! Aah!

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