Shark Tank Recap: Vestpakz, Bottle Bright, Scratch & Grain Baking Company, & evREwares
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Tonight on ABC's "Shark Tank," Sharks Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner and Robert Herjavec hear pitches from four impressive companies: Vestpakz, Bottle Bright, Scratch & Grain Baking Company and evREwares.
The special Tuesday episode "Shark Tank" kicked off as the creators of Vestpakz, Bottle Bright, Scratch & Grain Baking Company and evREwares all try to get the Sharks to invest in their products by giving them their best pitch.
Scratch and Grain Baking
Taya Geiger and Leah Tutin met in Portland, OR and came up with a baking kit featuring all of he best ingredients that were already measured out for the consumers.
"The kits use all-natural and GMO-Free ingredients, because they taste better.
In fact most of the ingredients are certified Organic!" according to
The ask: $150,000 for 20% of their company
How it went down: The kits are currently sold in 220 locations. The company has $52,000 in sales in 14 months.
Mark Cuban dropped out immediately.
Lori Grenier dropped out next because she felt there was too much competition. Kevin O'Leary felt the price-per-unit was too high and he dropped out.
Barbara Corcoran thought the ask was too high, but Robert Herjavec offered to come in with her in exchange for the two splitting 40% for $150,000.
Corcoran offered $150,000 as a line of credit for 20%. Herrjavec countered by offering $150,000 for 40% on his own. They accepted Corcoran's deal.
About Bottle Bright
Seth Friedman and Justin Koehneke realized that over time their reusable water carriers began tasting horrible due to built up dirt. The two friends put their abilities together to develop Bottle Bright.
Bottle Bright is "an effective, all-natural cleaning solution for canteens, travel mugs, and other drinking vessels. These effervescent tablets just plop in and fizz up for easy sanitizing," according to the products main page.
The ask: Seeking $75,000 for 15%
How it went down: The company has $110,000 in 2013 sales and $85,000 this year.
The company lost $100,000 in 2013.
O'Leary dropped out first. Herjavec followed. Corcoran dropped out next.
Cuban did not think the idea was actually a company and dropped out. That left Grenier who was the only one who liked the idea . She offered $75,000 for 35% with a condition that the money go to funding purchase orders.
The pair countered at 25% and Grenier came back at 33.3% and a deal was made.
Vestpakz
Michael Wooley pitched Vestpakz, a combination vest and backpack designed by Michael's daughter Christen while she searched frantically for an idea two days before it was due.
The story was featured on an episode of Oprah Winfrey's talk show years ago and is resurfacing on "Shark Tank"
"Vestpakz itself was founded on the inspiration of sixth-grade inventor, Christen Wooley. And today the company still stands for innovation and quality products," according to Eastsport. "Save space and save your back, with Vestpakz patented technology and functionality."
The ask: $50,000 for 10%
How it went down: The company had $10,000 in sales in January and February of last year. The product has been around for 16 years.
O'Leary thought it was not worth $500,000 and dropped out. Herjavec thought there were not enough sales to be worth investing in and dropped out.
Cuban followed. Corcoran expressed her love for the product but said it was the "right product with the wrong entrepreneurs." She dropped out. The last Shark was Grenier who dropped out as well.
evREwares
Ellie Brown and Becca Nelson pitch evREwares a product designed to put a little fun into plain clothes.
Nelson is a co-founder of the company that takes stickers and turn them into fashion statements that can be used over and over again.
Brown is the director of sales for evREwares and helped Nelson sell the idea of their product to the Sharks in hopes for an investment in their company.
"EvREwares fabric stickers are fun, re-usable clothing accessories," according to the sites main page.
"They are designed to stick onto any article of clothing; stick a funny tie on your favorite t-shirt, or wear a humorous bowtie to that office christmas party. Or better yet, help the birthday girl celebrate with a fun sash!"
The ask: $100,000 for 30%
How it went down: The company had $300,000 in sales in 2013 and dropped off considerably to $50,000 in 2014.
Grenier dropped out because she had a bad experience with a similar company.
O'Leary dropped out because he did not believe in the idea.
Corcoran dropped out next followed by Herjavec.
That left Cuban as the last Shark and he offered $200,000 for the entire company.
The offer was accepted.