Original subtitles

Tonight on "Shark Tank"... Big Ass Candles!

Stringys are here! Ha!

They feel like you're wearing nothing.

That's disgusting.

Enough yolking around!

How much have you raised?

- $10 million valuation. - Wow!

Why do you think you're worth 10 million bucks?

We're worth a lot more.

You guys are sharky.

Don't think about it too long.

What we really want to know is, is there a business here?

I did not expect to love this.

See, now I'm gonna cry.

First in the Tank are entrepreneurs from Texas

who believe bigger is better.

Howdy, Sharks. I'm Trent.

And I'm his wife, Chloe.

And I'm her twin sister, Kelsey.

We're from Dallas, Texas.

And, Mark, you know everything is bigger in Texas.

Yes, sir.

But we're not just talking about big hats,

big hair, and big attitudes.

We're talking about candles.

But not just any candles.

Big Ass Candles!

Introducing Big Ass Luxuries.

Where you don't need a big ass...

...to have a big-ass candle.

We handcraft large-format natural candles

at an affordable luxury price.

Our hero product is the Baby Big Ass Candle.

It's 150 ounces--

that's almost 10 pounds--

and lasts from 300 to 500 hours.

But if that's not enough candle

for you to handle...

...you can try our Big Ass Candle.

It's 300 ounces, a whopping 20 pounds,

and burns 750 to 1,000 hours.

Sharks, that's a long-ass time.

That's 30 times the size

of this normal little-ass candle.

And hey, we know there's no shortage

of little-ass candles out there,

but sometimes bigger really is better.

So we're on a mission

to make the world burn a little bit brighter

and a lot bigger.

That's why we're seeking $500,000

for 5% of our business. Hello!

Whew, that's a big ask.

So, Sharks, who's ready

to get it poppin'...

...and build a big-ass business together?

My gosh. Good job.

Sharks, please remove the cloth in front of you

and let's get lit.

Let's get lit. Whoa!

Wow. That's a big-ass candle.

That is a big candle.

It got bigger coming at us.

Sharks, each scent has been hand-selected for you.

Ooh! So, what did I just smell?

So, right now you're smelling our Woodland Balsam.

It's one of our Christmas scents.

Wow. Beautiful. Has notes of eucalyptus, fir, pine.

Ooh! What's this? I love this.

That one's our Sparkling Paloma.

It has notes of grapefruit, lemon, orange.

Is this the same one I have?

You have the... Santal & Coconut.

This is beautiful.

Thank you! Thank you, thank you.

$500,000 for 5% imputes a $10 million valuation.

You'd better have some big-ass sales.

We were waiting for you to say that! Or by the time I'm finished with you,

these are all going to be melted, these candles.

So, give it to us.

So, first full year of business, we did $1.3 million.

Wow. That's a lot.

The next year, we upped that to $2.1 million.

Wow. Good growth. Okay.

And this year, what are you going to do?

Year-to-date, we are already

past $2.4 million in sales

and expecting to do over $4 million.

Okay. What do you think you'll make on that?

Expecting about 20% margins, like last year.

So hopefully around 800K. Wow.

There are a lot of big-ass candles out there, as you know.

Many four-wick, some five-wick. Why is yours different?

Anybody can make a candle,

but not anybody can sell it.

As you all know,

any successful brand is--

the brand is their moat.

So that is the main thing.

We are the Big Ass Candle company.

Our goal is to become that household name.

So, where and how are you selling them?

So, we primarily sell online direct to consumer

through our Shopify website.

That's about 95%. Wow.

5% is coming from retail.

Good for you. Good for you.

That's unusual. My God.

Yes, which is interesting because usually

when people buy a candle,

they want to smell it before they buy it.

So we do offer these sample trios.

So it just allows you to smell it

before you commit to the Big Ass Candle.

What do you sell them for? What do they cost?

How do you deal with shipping?

So, our hero product, we sell it for $179 retail.

That's the small one here? Yes.

$179? It's not so small.

And that costs us $50 landed.

And then shipping--

So, it costs on average about $15 to ship one of these.

What about the big Big Ass?

That sells for $284, the Big Ass Candle.

And that is about $90 to make.

You can't really put a retailer into this

unless you raised your prices a little bit here.

Do you want to go into retail?

We do, we do.

But D2C just has been so good.

What's your customer acquisition cost per customer?

Our CAC right now is $50.

$50?! But we are getting-- we are getting

a 4.5x return on ad spend.

Wow. Wow!

Well, I got to tell you, this business is a...

Money maker. It is a money maker.

It is ready to scale.

You're doing it American-made

right there in your own hometown.

I unfortunately have a conflict

because I'm the face of Hotel Collection.

My wife and I, we make amazing candles.

So I wish you all the best, but I'm out.

- Thank you, Daymond. - Thank you, Daymond.

Yeah, guys, I'm just not a home decor guy.

I mean, my home decor is like a milk crate turned upside down,

so it's just not a fit for me, but congratulations.

Always proud of Dallas entrepreneurs, but I'm out.

Understood. Thank you. Thank you, Mark.

Where is your price point in line with the competition?

If you find another 10- or 20-pound candle,

it's probably going to be at least 50% more expensive. Wow.

We are the only company

focusing on large-format candles.

So if a well-established candle brand were to do what we do

and try to sell it for the same price,

it would completely upend their business model.

They'd have to decrease the prices

of all their other products.

Well, I would be the perfect partner for you.

I think you are the perfect partner.

You know, all the room fragrances

where you have the little bottles

and you put a wick down in it

and there's a beautiful flower and it sucks up the fragrance? Mm-hmm.

I was the first to bring that

and do that in America. Oh, wow.

I mean, I really know about fragrance and candles. Yeah.

My problem is the ask. It's $500,000 for 5%.

Yes. Now, Kevin will always say--

Why do you think you're worth 10 million bucks?

Yes. That's a good question.

I also think we're worth a lot more.

Yes, you do.

I was gonna say that we do have some big-ass sales.

I, like Lori, felt

if you had come in and asked for $250,000,

I would have been in in a second.

But $500,000 is also called half a million dollars.

A lot of money. Yes.

And it's just too big an ask.

And also, that Lori's not interested is concerning to me.

I'm out. No, I am interested.

Oh, you are? Wait. I'll go back in.

We can negotiate. Yeah.

I am interested.

But for me, I'd like to give you an offer

as half equity, half as a loan.

Okay. $250,000.

Give it to you as a loan, which, whatever is the going rate.

And $250,000 for equity. Mm-hmm.

Then I would take 15%.

Thank you so much for your offer. Thank you so much, Lori.

Alright, guys, my offer is a straight

half a million bucks for 20% equity.

Thank you so much for your offer. Thank you, Mr. Wonderful.

You got two offers. What do you want to do?

Three Sharks are out.

Kelsey, Chloe, and Trent have two offers on the table

from Lori and Kevin for their large-candle company,

Big Ass Luxuries.

I think that it has a lot of potential

in my gifting businesses. Yeah.

O'Leary: But I also think I can help you on that CAC.

I think $50 is too high.

I think I can help you with all of the above and way more.

Of course, I don't agree with that. I think you need to get into...

I think, build the online business,

but I think the first step is the high-end retailers

because it's so luxurious. Okay.

So, you realize I'm actually paying a lot more than she is.

I'm worth it! $250,000 for 15%.

Can we talk for a second? Can we talk one second?

Okay, Lori, we'd like to counter

and see if you'd be willing to come down to 10%.

But the way I structured it.

Same way you structured it, yes.

The way you structured it.

I'll go to 14%.

Would you go to 12%?

I like to be a good partner.

I want everybody to feel like give a little, get a little.

Yeah. Mm-hmm.

I will go to...

13%.

Mr. Wonderful, would you come down to 10% for us?

No.

Lori, we'll take your deal! You have a deal.

Whoo!

I like this one!

Oh, this will go with, like, my great gifting things.

- Thank you so much, Lori. - Good to meet you.

Great presentation.

Thank you, guys. Best candle ever,

that I have ever smelled.

That got me in.

It's three times the size of Daymond's candles.

Congrats, guys. See you in Dallas.

- Thank you, guys. - Bye. Thank you.

Let's go.

Go, let's go!

Whoo! Let's go!

Whoo!

Let's go! Let's go!

I think it's just, um...

It's something that

I've worked really hard for,

and I'm just so proud of my husband.

Like, the fact that I get to do it with my husband

and my twin sister is just amazing,

and I'm just so grateful.

Next up are entrepreneurs with a new twist

on a popular appetizer.

Hi, Sharks!

For centuries, scholars have tried to answer

the age-old question--

Which came first,

the chicken or the egg?

Well, we're here to tell you,

nobody cares now that our deviled eggs are here.

Hi, Sharks. My name is Raechel Van Buskirk.

And I'm Alexi Wellman.

And we are... Deviled Egg Co.!

The first and only company in the world

to specialize in gourmet,

uniquely flavored deviled eggs

tailored to taste like your favorite foods.

We've taken the most notorious

appetizer in history...

And flipped it upside down

to create something truly eggs-traordinary.

These are definitely not your grandma's deviled eggs.

Each one of our mind-blowing recipes has

a different flavored yolk, fresh, real toppings,

and the perfect combination of creamy and crunch

for a one-of-a-kind experience.

So, from our mouth-watering cheeseburger

to our chicken Caesar salad,

to even chicken and waffles...

What?!

...we have all the flavors for you to eggs-plore.

And our menu offers gluten-free,

dairy-free and vegetarian options,

all made to order

and sure to egg-ceed those eggs-pectations.

So, Sharks, we're here seeking $150,000

and your eggs-pertise

in exchange for 5% of our company.

Sharks, enough yolking around.

Who's ready to make an eggs-uberant amount of cash...

...with these good eggs?

Sharks, in front of you are some of our top-selling eggs.

You have in front of you the chicken Caesar salad.

In the middle you should have the crab rangoon,

and on the left you should have our cheeseburger.

And then we also provided you a half pint

of our smoked salmon deviled egg salad.

Oh, this is good! It's really good.

I love deviled eggs. Love them.

So do I.

So do we.

This is fantastic. Yeah, this is really good.

How do you make them? They're incredible.

They don't taste like deviled eggs.

I mean, it's years in the making.

My obsession started back in 2017.

I stumbled upon this niche that nobody had capitalized on.

And now, seven years later, I know why--

It's a lot of work.

Up on the screen, we saw what looked like a menu.

Are you a store? Are you online?

Where do you sell this?

So, we bought our first actually food trailer in 2020.

It was born out of the pandemic.

A lot of people said I was a little bit crazy.

It is deviled eggs.

My mom was like, "Go back to school."

But yeah, so we got our first little food trailer,

and we used that the spring and summer of 2021

to really test the market,

generate a little bit of revenue.

Where are you based?

Originally out of Omaha, Nebraska,

where we still have an actual full-service restaurant,

and then I reside now north of Dallas-- Denison, Texas.

Yeah! Why did you choose to go from a food truck to a restaurant?

We started with the food truck

to really show proof of concept.

So, what we've been doing

is very intentional with our growth.

We got the reaction, exactly like you guys are.

And that was like, "Okay, so we're on to something.

Let's open a store."

What we figured out

is that the full restaurant model

has very low margins compared to where we go now,

which is more of the grab-and-go model.

And you order right there and they're made to order.

And they come like these,

but you can also buy these?

In egg salad. And we also do shipping.

How many eggs would a typical customer buy?

I think of it always as an appetizer, not a meal.

The average order is going to be our 6-pack.

We do a 2-pack, 6-pack and a 12-pack.

Our 6-pack cost average is about $1.81

cost of goods,

and we sell it for anywhere from $14.99 to $17.99.

So, that's a meal. You eat six half eggs.

Oh, that's... yeah. High protein.

So, this restaurant only sells deviled eggs

and the kitted product in the jar, right?

Our grab-and-go.

So, our first two kind of restaurants

are more full-service.

We believe the grab-and-go is the to-go only--

Which needs how many square feet?

It actually needs about 600 square feet.

We're in a 900-square-foot space there.

What are your sales?

We opened this first store in 2021.

Sales were $60,000.

In '22, they were $395,000. Nice.

In '23, they were $492,000.

Wow.

This year, we already have $705,000 to date.

And we're looking at hitting $1.3 million for this year.

Wow!

So, on this $1.3 million, are you gonna make any money?

Yes, we're forecasting

about $350,000 to $380,000 in revenue,

with putting at least $50,000 to the bottom line.

Where that becomes very interesting--

It took only $50,000 to build that out, plus inventory.

So that's a return in a year of the capital.

I got to tell you, this is probably the best thing

I've ever eaten in 16 years on this stage.

Wow. Oh, my gosh!

See, now I'm gonna cry.

Thank you. Aww.

That I enjoy, that's not sinful.

I've eaten a lot of stuff.

Not as much as I have!

Yeah, but I'm telling you,

this is not my area of expertise.

I think there's other Sharks up here

who will make sure that you are successful in the event

that you get a deal.

With that being said, I'm out.

Thank you very much for your feedback. Thank you.

How are you going to expand your business?

So, well, actually,

what we're asking, that $150,000,

we do plan to use part of those funds

to open up two more grab-and-go models.

Are you interested in franchising it?

We have people that want to franchise it already.

So, in new concepts, which is what you are--

a very interesting new concept.

To prove it out, you need at least 4 to 5 five stores,

you got to hit close to $5 million in sales,

and then you're worth, for funding, 1x sales.

That's what new concepts are getting funded at right now.

So you're saying $150,000 at 5% imputes $3 million.

That's not gonna happen.

Not that it isn't a great idea. It's just that's not realistic.

If this concept sticks, and I think it can--

I know it can.

Can I take the floor for just a moment?

I have due respect for him,

but he's thinking the wrong way on this, really.

You've already proven your concept and your numbers.

You have figured out the franchise model.

I invested in Crispy Cones. I guess it was two seasons ago.

They had one company-owned store.

They sold 66 franchises in six months

because they had one store that was making

Orlando, Florida $1 million a year.

- Wow. - Which seems incredible.

So what do you want to do, Barb?

I'll give you $150,000 for 15%.

That's what I own in Crispy Cones.

That's what I own in Cousins Maine Lobster.

And Cousins Maine Lobster has $900 million in sales.

And I get up in the morning excited at 15%.

Well, thank you, Barbara. Thank you so much for that offer.

Don't think about it too long.

No, we're not. We do want to be respectful

'cause this is our one and only chance.

I did not expect to love this,

but do I have to invest in everything I love,

or can I just be a great customer?

I'm going to be a great customer because I adore it

and I love you, but I'm sorry, I'm out.

Thank you very much

for your feedback and your time. We appreciate it.

I'll make you an offer. $150,000 for 20%.

I don't think this is a good franchise,

because it's so low-cost to open up.

You know, if you guys think bigger,

I wouldn't franchise anything.

Would you be interested in considering the shipping side

of this thing on your platform?

O'Leary: You know, let me give you an example.

I'm Chef Wonderful on QVC.

I don't know how we could ship 25,000 orders.

I'm not feeling the love, ladies.

That's going to cost you. No, no, and I am looking at you.

We've got your love.

What are you doing, Mark?

I definitely love it. Right?

And you're definitely local.

You better not compete with me, my dear Mark.

Will you go in with me? Otherwise--

I will go in with you. Okay.

Give them more money to get bigger percent?

I mean-- Yeah, that's a good idea.

Really, what percentage are you comfortable giving up?

Yeah, what's the most you're willing...?

I mean, I'm willing to put in some more money to get it,

so, you know, so we can get up to 20%.

We would love, you know, if we could get like, $250,000,

because it would really help us to open a couple more stores.

For 20%? For 20%.

I would do that. I would do that, too.

Done. Deal.

- Whoo! - Ahh!

Good job, ladies. I hope that was okay!

They did great. Thank you. I love you.

Oh, my gosh!

We've now got Daddy Warbucks with us.

Yay! Oh, my God! Right?

And we got somebody who knows franchising,

so it's perfect.

You guys are all awesome.

Thank you for your feedback. Great presentation.

For everything you did.

Mark will eat everything. Don't worry.

So nice to meet all of you. Thank you, guys.

- You got it, guys. - Appreciate it.

- Bye, guys. - Good luck. Thank you.

Oh, my gosh. Oh, my gosh. We did it!

Our deal!

We did it!

Van Buskirk: It means everything.

I'm so grateful and I'm so excited for the future,

and it's just amazing.

It means everything.

I cannot wait to make them so much money.

Next up is a safe way

to deal with a nasty little problem.

Hi, Sharks. I'm Steve Abrams.

And I'm Olivia Abrams.

We're a father-daughter duo from upstate New York.

We're here today seeking a bite-size investment

of $250,000 for 10% of our company, TiCK MiTT...

Where we're not afraid to tick off ticks.

Sharks, ticks are small, nasty bugs that can do a lot of harm.

They carry potentially life-threatening diseases,

including Lyme disease.

Before TiCK MiTT,

the only option for prevention

was a bottle full of chemicals whose names you can't pronounce.

That's disgusting.

Or tweezers. Ow!

But they're only good after they embed,

and then you're playing Russian roulette with your health.

That's why we created TiCK MiTT,

the ultimate tick-check accessory.

It finds and removes even the tiniest ticks

from yourself, your loved ones, and your pets,

before they embed and transmit diseases.

Just wipe TiCK MiTT over your skin,

your clothes, your pet's fur,

and TiCK MiTT will remove any loose ticks.

Then place TiCK MiTT in the included dryer bag,

in the dryer on high heat for 10 minutes to kill the ticks,

and TiCK MiTT is ready to be used again.

With our big dogs,

it was a challenge keeping ticks out of the house.

But with TiCK MiTT, I no longer have to worry

about ticks hanging out on the couch with me

watching "Shark Tank."

Ew!

TiCK MiTT provides a simple solution

for families to enjoy the outdoors safely.

So, Sharks, who wants to help us scale TiCK MiTT worldwide

and make every adventure worry-free?

Those are your samples in front of you.

We have five different colors.

How does such a soft fabric like this remove the ticks?

So, it works on the theory of Velcro.

Ticks are all hooks.

This is a patented microfiber.

Basically, the loop sizes is what the patent is around.

So if the loops are too big, the ticks don't get stuck in it.

If they're too small, they can't get in at all.

So it's designed to work on ticks that are, you know,

nymphs to adult and all different species.

How did you even think that that was a possibility?

So, when I was seven years old,

I started having really bad arthritis in my knee.

I couldn't walk,

and eventually I got a really bad rash on my face,

and no one could figure out what was wrong with me.

And it wasn't until my dad said to the doctor,

"Hey, we live in an area with ticks."

I ended up testing positive for Lyme disease,

went through about six months of physical therapy,

and have made a really strong recovery

because we caught it pretty early.

And since then, we've always been really concerned about it.

So we started working with a tick scientist

and a product engineer, and after 13 iterations,

we came up with this product.

Isn't there like a pill that's supposed to repel them?

Yes. So, the way that the pill works is

it's actually an oral medication you give to your dog monthly.

So if a tick does bite your dog,

it means that your dog is not going to get sick.

But again, it doesn't stop the ticks from coming

into your home or into your car. So the tick is still there?

Yes. But, can you do everything, right?

I mean, don't most people just miss things?

I mean, you can capture most of it,

but how do you make sure you're comprehensive?

We've been working with a tick scientist,

and it picks up between 90% and 95%.

There's always a chance you're gonna miss one.

We're not making that claim that you're getting 100%.

I never really wanted to know this much about ticks.

No! It's horrifying.

But what we really want to know is,

is there a business here?

Yes, there is a business.

So we were recently at the Outdoor Retailer trade show.

In 137 submissions,

we won Innovation Product of the Year.

Congrats. Good for you.

That has led to 70 conversations

with big-box stores.

Which means you're ready to talk about the business.

Yes! That's right.

So, we've been in business 18 months.

We've done $432,000 in sales.

Wow. Good. Good for you.

So, what have you done year-to-date?

$252,000 this year.

You are the tick whisperer.

The tick chick!

What's your background?

I'm the classic entrepreneur--

dropped out of college, started businesses.

My last business was a business called Magnolia Bakery.

Oh, I know it. In New York City.

One store, and took it to 14 countries

and then sold it.

Right next to Radio City Music Hall?

That's it.

And I'm an only child to a family of entrepreneurs,

and I went to school for entrepreneurship,

worked in finance for a couple of years.

So, then you went tick crazy.

You know, I was already a little bit tick crazy before that

because of the Lyme disease.

Well, you know, like the classic entrepreneur,

in the back of my head is, "That's a business one day."

Well, I wanted to go back to business, Steve,

because I'm freaking out about your valuation.

You're not worth 2.5 million bucks.

You don't even make any money.

I believe we are, and I'll tell you why.

We've already got our patent

and our IP filed in Great Britain and the EU.

We're about to launch in 15 countries.

Was this a utility patent?

Utility and design, both. Yes.

You know you have to file in each country, and

in each country it's thousands and thousands of dollars.

Yes. And then certain countries,

it takes 20 years to get the patent. Yes.

But patent pending gives you the protection until you get it.

But patent pending doesn't technically

give you any protection.

But what we've found going to all of these shows,

we've learned how big the problem is worldwide.

And there's also a huge occupational hazard.

So, people who are firefighters, policemen,

land surveyors, and the Boy Scouts of America.

Steve, how much of your own money do you have invested?

Over $600,000.

Wow. Wow.

Damn. So, what are you selling for?

What do they cost you to make?

$1.64 to make, $2.15 landed.

Sells for $19.99.

Wow. Well, there's some margins there.

70% of our sales this year have been

between Amazon and our website, half and half.

15% was wholesale and distribution,

and then we also did a flash sale.

If I look you up-- You really know your stuff!

But this was the first year we went to shows,

and it was eye-opening.

First, it showed us it was a worldwide market.

We have 10 shows lined up next year in every market--

O'Leary: But you can't just do shows.

This should be all over social media.

We have about 6,500 followers, but we're getting, you know,

almost a million impressions a month.

We just had a video go viral. It has 7 million views.

Hey, guys, let me get it started.

Look, I can't think of anything better in life

than starting a business with your daughter, right?

I get to see her all the time.

But let me just tell you guys, wherever there's ticks,

I'm going the opposite direction.

I'm the tick avoider. It's not a fit for me.

Congratulations.

I love to see it, but for those reasons, I'm out.

Thank you.

You must be incredibly proud of her.

She's just like-- bam, bam, bam!

Every question, every answer-- you know it all.

The hard thing for me is my company Bug Bite Thing.

They want to get into the tick space.

And the problem is I have to remain loyal to them.

I think you're going to do great, though.

I wish you great success, but I'm out.

Thank you.

We appreciate it. We understand.

I think it's a great product.

I just question how many people are going to actually use it,

because I forget about all that stuff when I go in the house.

So it's just not for me. I'm out.

Okay. I understand. Thank you.

I'm really a perfect tick girl.

I almost lost my son to Lyme disease

when he was 2 1/2.

Wow. Didn't know what was wrong.

High fever, hardly breathing.

So I know the dangers of it.

I also have had many ticks myself.

If I'm not feeling well, I assume I have a tick.

Exactly. Yes.

Would you take $250,000 for 30%?

No. 20%.

I think that's a little bit higher than we wanted to go.

Yeah. We would do it for 20%.

30%.

It's a lot of work, let me tell you... We know.

...to get all the deals right at the big-box stores,

to keep your eye on them, to the chargebacks.

It's not satisfying work.

But 30% is too rich for us.

That's a no? That's a no.

O'Leary: I would look at this deal,

but it's not a company yet-- it's a product.

And so how do I get my $250,000 back?

I don't want to tie up $250,000 for 10 years...

No. ...while we wait for what, TiCK MiTT public listing?

I don't want to tie up my money for 10 years.

Okay, I'll make you an offer.

You may not like it,

but it's the only way I would do this deal.

I'd do the $250,000 for 20%, a buck a unit as a royalty,

so I get some kind of a distribution.

Where does it end?

I can't have it in perpetuity.

The margins on the distributors would make that too tight.

What about leave the royalty in place

until I get back $2 million?

That's an eight-time multiple. That doesn't make sense.

Why not? Makes sense to me.

Of course it does. Yeah, well, that's why--

I would invest with you if you gave me that deal.

I mean, look.

I've structured zillions of deals like this

on single products, and so I would do that deal--

$250,000, 20%, a buck a unit

until I make back 2 million bucks.

Thank you, but that won't work for us.

Am I clear in understanding that you weren't interested

in my $250,000 for 30%? Yeah.

Would you do it for 25%?

No.

We cannot get to 30%. No.

I'm out.

Thank you.

I think these offers reflect how nascent and how early this is.

Maybe we're not telling the story well enough.

No, no. You are. You don't fully understand that the market--

I mean, I believe you are the tick kings.

I really believe that.

It's just we know how much work is involved.

No, I get that.

Okay, well, you don't like my offer,

so I understand. You don't have to take it.

I'm out.

Good luck, guys.

We appreciate the offer. Thank you guys so much.

- Good luck, you guys. - Thank you.

We really do understand what we have,

and we have the ability to move it forward without them,

so giving away that much at this point

just did not make sense for us.

Next up is a fashion accessory

that's essential, yet invisible.

Hi, Sharks. I'm Olivia.

And I'm Elvira.

We're best friends and business partners.

Sharks, Elvira and I are both wearing

the hottest new asset in fashion.

And no, it's not my dress.

And it's not my active set.

It's something invisible to the naked eye.

It's our panties!

But how can that be?

There's not a panty line in sight.

I know-- it looks like we're going commando,

but commando was so last year.

Because...

Stringys are here!

Ha!

Stringys are invisible panties

that go completely undetectable under clothing,

and they feel like you're wearing nothing.

With magical disappearing straps that adapt to your body

without riding up, rolling down, or digging in.

They're designed to adhere to you,

so wherever you place them, they will stay.

Very obedient.

Very obedient, and seamless.

And more importantly, seen less.

Because wherever you go,

it's always a good time to not show your panty line.

And now, the ladies have spoken.

We can't live without them.

So that's why we're here

seeking $300,000 for 5% equity in our company.

Wow.

In front of you,

you'll find your very own plate of Stringys.

So, please, dig in.

Because our panties won't.

Can't wait to try them on.

You should. You should. You have to.

So, you said it doesn't cut in.

Yeah, that's the idea. It does not cut.

It's a Band-Aid! Yeah, well...

I mean, just to give you an idea,

this bag right here contains 2,000 Stringys.

Wow. Damn!

So if you want to ship 2,000 units,

it's literally this light and this easy to store. Yes.

Do you have a patent? Patent pending.

We learned very, very quickly

why it hadn't been done before.

Yeah. Because it took us about 60 trials and error

to get to this product. Very hard to make.

It's bonded two materials together.

It's not sandwiched.

Stringys is truly an invention,

and we already have value in the name.

We have the most famous people,

like, asking for Stringys by name.

Now let's talk about the sales.

We've been around for 11 months

and we have $180,000 in sales.

That's not bad. Wow, that's good.

That's actually not bad.

Tell us how you sold $180,000. Where?

It has been a lot of word of mouth.

So, direct to consumer? Mostly.

We have three wholesalers right now,

and that's pretty recent.

How much does that cost you to make?

$2.

$2, and you sell it for what?

$14.

Have you raised any money?

We did. How much have you raised?

We raised $400,000.

Whew! Okay.

At a $10 million valuation.

Wow! At a $10 million valuation?!

- Yeah. - Damn!

Why would anybody give you

a $10 million valuation with no sales?

- Not only did-- - Who did that?

Some people wanted to give us--

many people wanted to give us this money.

One of our partners is a Sports Illustrated model.

One is an influencer that we have known for a while.

She's, like, the OG influencer.

And we have two businesswomen

who have started their own companies.

What do you need the money for?

We need to place bigger P.O.s,

so we need more money for that,

and we don't want to constantly be selling out.

We are set to make $1.8 million next year.

Based on what?

Based on our projections of metrics.

The demand has been so high.

Like we said, we keep selling out of all of our units.

Well, did you have a background in this?

I come from a family of entrepreneurs.

We're all in a little bit of a race right now,

which is kind of fun,

but I like to say it's in my blood.

I started modeling when I was 12 years old.

Then I went full time at 17, living in every country.

But I have not been to Sweden,

which is where Elvira is from.

So, I'm born and raised in Sweden.

I moved here when I was 22.

That was a big challenge to leave my family

and all my best friends.

But I will say,

the hardest thing I have ever done

is being a new mom

with a newborn and running a business.

Two babies. Our business and him.

Our Stringys baby and my actual baby. Our mascot.

Guys, it's a hell of a story.

The valuation is so crazy.

But, you know, I'm so impressed that you could do this.

I see why it works,

and you're probably on the cusp of blowing it up huge.

But 300K is a lot of dough,

and 5% is like pee-pee.

It's nothing. It doesn't get me out of bed.

That's the problem. Well, what will get you out of bed?

So, I'm going to give you the $300,000.

Just for the-- I'll keep the 5% for schmuck insurance,

but I want a buck a unit in royalty.

In perpetuity?

Is there any other word?

You're saying forever. Forever.

I invested in Rounderbum.

Do you remember that product here in L.A., Rounderbum?

No. I'm their investor.

Rounderbum was also an undergarment

that actually enhanced a man's package.

Yeah, I could see a need for that. Yeah.

So, guys, it's just a... it's a little too high for me

for where you're at in regards to sales,

and um... challenging for me.

Good luck, but I'm out.

Okay. Thank you.

What would you want the Shark to do for you?

We haven't been able to place big enough orders,

and we're ready to do that because we know we can scale.

I feel like Kevin would be a better partner for you.

I really do, because he gets the underwear business.

So, I'm out.

Guys, I don't think I can help you enough,

and I think you guys will go far anyways.

So for those reasons, I'm out.

Aah! Okay. Okay.

There are two things I really like about your business.

One, I love the two of you.

Obviously, everybody here has fallen in love with you.

You're having so much fun while you're doing the hard work.

I like the fact that you realize you have a brand here

and the valuation.

You can name what you want

if you really believe in your brand.

So, I'll pay you $300,000 for 10%.

That's it.

But I'll build your brand with you.

Yes, she will. Because I know about brand building.

So, you have two offers.

Barbara and Kevin.

I'm a lot prettier than Kevin.

I don't know about that.

Okay, I want to actually say something to you guys.

So we have a $10 million valuation right now.

Our SAFEs are gonna convert, right?

So, when they convert, they have a 30% discount.

So if we take anything at a less than $10 million valuation,

that leaves actually less equity for us to give you.

We can offer advisory shares where we get no vesting.

As soon as we close this deal,

we can give you the equity right away

and you're going to dilute off the top. Same thing for you.

Same difference.

You know what I'll do to solve your problem?

I'll give you your valuation,

which shaves my equity practically to nothing.

But I still want to get my dollar royalty.

Okay, so you'll give us $300,000 for 3%?

Yeah, I'll do that.

But I still want my buck royalty.

Otherwise, how do I get my capital back?

Next year, our projected sales are $1.8 million,

which is a $560,000 profit for us.

Listen-- Look-- If we give you $1 royalty,

that will make it one-third.

It'll take one-third of that 30%.

Smart lady.

I understand your dilemma on the SAFE. I get it.

So, what converts your SAFE? Is it a minimum--

The first raise.

Yeah, the first raise at all, no matter what? Yes.

Which is this.

SAFE notes are pro and cons on that.

That's why we're contorting this.

So, would you do $300,000 for 3%,

plus 22 cents per--

What? What's your thinking on 22 cents?

22 cents is the highest that we can go in perpetuity.

Don't do it in perpetuity. Don't.

Yeah-- Wait a second, Mark.

What is the thinking on the 22 cents, though?

Just, that's a number?

Do you like it?

I'm-- I wanna--

I want to understand how you got there.

It's how it cuts into our profit margin.

I understand.

Yeah. $1 is too high.

No, I wouldn't, but I'd do it for 50 cents.

I'll take that deal that you offered.

Three Sharks are out.

Olivia and Elvira have two offers on the table

from Kevin and Barbara

for their invisible thong company, Stringys.

They've countered Kevin's offer with $300,000 for a 3% stake,

plus a royalty of 22 cents per unit sold in perpetuity.

I'll take that deal that you offered.

$300,000 for 3%. Yes.

Plus 22 cents. Forever and ever.

If we're going to give you forever...

Yeah. Let's...

Let's give you 22 cents until you get your money back,

and we can offer you 3% advisory shares.

3%? Yes.

No, I think 22 cents is a good idea forever.

Forever? Yeah, that's...

But then-- Okay, here. Come here.

You girls are adorable, by the way.

Okay? Barbara...

I'm afraid to hear your counter.

Would you give us $600,000 for 6% of the company

and get 22 cents forever?

No. Too rich.

You guys are sharky.

The deal I like, if you want to do it,

is the $300,000 for 3% equity, but 50 cents in perpetuity.

I would do that deal.

So, then I'm gonna turn to Barbara.

Will you do $300,000 for 3% plus 22 cents forever?

No advisory shares.

Yeah, I'll take that deal.

There you go. Good job!

Yay!

Thank you. Yeah!

I hope I get your figure when I make this deal.

You will!

Congrats, guys. Well done.

- Thank you! - Thank you so much.

You are crazy cats.

You guys are awesome. Thank you.

I'm sorry.

This has been a dream come true.

"Shark Tank" has been such a learning experience for us.

We got to learn so many things.

All the numbers you heard us talking about,

"Shark Tank" taught us how to know.

Yeah.

So it's the best business school we've ever had.

Really, truly.

This season is Mark's last as a Shark.

Let's take a look back over his 15 seasons on "Shark Tank"

as we celebrate his contribution to American entrepreneurship.

I just love this whole thing.

We're about to make you a millionaire,

just like that.

That is ugly!

No, it's not. It's good.

I'm just a lean, mean Shark machine, baby.

I remember literally thinking, "This show is not gonna last.

Just go on there,

just tear it up, raise hell, cause trouble."

Horrible!

- I'm a basketball guy. - Right.

I'm gonna give you 24 seconds.

24 seconds. Okay.

Attention on me. Yes, sir.

I really didn't expect there to be a third season.

And then, boom! It just blew up.

Let's partay!

Now we'll do our money dance.

Oh, [bleep]!

♪ Champagne and caviar, acting like a movie star ♪

Yeah!

Don't hate me because I'm beautiful.

Oh, my God!

It's good to be the king.

I think I just brought a little bit of an edge,

where I tried to make it

not so much about an academic investment show,

but more, you know,

a show that is about people trying to reach their goals,

trying to have their dreams come true.

I've been in their shoes. You know, I've been broke.

I've been sleeping on the floor.

I can put myself in the shoes of pretty much anybody

who's standing on the carpet.

From getting a deal with Mark,

our lives have completely changed.

We're over $350 million in lifetime sales.

1.1 million. That's what it's all about.

Working with Mark is a company's dream scenario.

Since we pitched, we've done over half $1 billion in sales.

We're so grateful to Mark and to "Shark Tank"

for where we are today.

I'm the luckiest guy in the world.

You know, I wake up every day

and try to never take what's happened to me for granted.

When I die, I want to come back as me.

75% of a watermelon is a whole lot better

than 100% of a grape.

Do you have a little bit of flexibility?

That was my flexibility.

Depends how much you want to change the world.

You always have to run your business

like there's someone else out there working 24 hours a day

to kick your butt.

One of the reasons I do this show

is to inspire kids like you.

I want you all to think who's next

and what are you guys going to do to get there?

Try different things, because there's absolutely nothing

that can possibly stop you guys.

What I'd like to say is,

thanks for everybody who took a chance on me.

Congratulations. Thank you so much. Thank you

All the entrepreneurs who said yes to me.

Who knows how many millionaires we've created,

and their employees, how many people we've inspired.

I'm proud of what we've done.

It doesn't matter where you come from.

If you put your mind to it, anything is possible.

I want you to know how much we believe in you.

I've learned a lot.

Real pleasure to have you here.

We're gonna miss you.

Thanks, Robert. Cheers.

Mark, having you leave is really like

having a big brother leave the house.

You're a warrior. You're a humanitarian.

You're just an all-around great, great person,

and I admire and respect you and love you.

He continues to change the world.

And I love you, man.

I love you, too, Daymond. Alright.

I'm so proud of what we've all built together.

We have become ambassadors of the American dream

around the world.

So much of it is because of you.

Of course. We don't always agree.

No. We don't.

And sometimes you've learned a lot from me.

You guys are amazing.

I mean, I've learned so much from all of you.

We've had such an impact.

And to "Shark Tank,"

to the people who supported us, to the people who love us.

I love you guys like family.

- Thank you. - Thank you.

Alright.

Un, deux, trois.

Chevaliers du Tastevin!

Yay!

This show changed me,

I think I changed the show,

and I think we all together as Sharks changed America.

Fantastic, baby.

Absolutely. What a great run.

>>>>oakislandtk www.opensubtitles.org