'Shark Tank' Recap: 'BoobyPack' 'Gold Rush Nugget Bucket,' 'Lumi' & 'Sseko'

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Tonights episode of ABC's "Shark Tank" put BoobyPack, Gold Rush Nugget Bucket, Lumi and Sseko in front of Sharks, Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner and Robert Herjavec to pitch their growing business in hopes to receive investments.

Four special companies competed in this episode while the Sharks and viewers at home received an update from The Paint Brush Cover and its success since appearing on "Shark Tank." (The company has increased sales from $35,000 to $1.5 million since appearing on the show).

About Sseko Designs

Sseko is a company based in Uganda that was started by Ben and Liz Bohannon. The company isn't just any fashion company, they are able to hire women in Uganda who plan on attending university or college.

The products include sandals with interchangeable straps, accessories and fine leather bags with accents.

"Sseko Designs is an ethical fashion brand that hires high potential women in Uganda to make sandals to enable them to earn money through dignified employment that will go directly towards their college educations and ensure they will continue pursuing their dreams," according to the sites main page.

The ask: $300,000 for 10%

How it went down: Corcoran asked if the company was for profit and the company explained that it was and that the company's philanthropy was manufacturing in Uganda.

The sandals retail for $65 which shocked O'Leary.

The company has helped 47 women go to college. It has $3 million in sales to date but will lose money on $1.1 million this year. In 2015, the company expects to lose money on $1.9 million in sales.

O'Leary questioned the valuation. Corcoran was concerned that the company does not make money and dropped out.

Cuban questioned whether the pair was realistic and dropped out. O'Leary said the company was worth $700,000 at most and dropped out.

Herjavec thought the company did not have enough sales and dropped out, leaving only Grenier, who did not like the sandal and found it uncomfortable. She dropped out leaving the company without a deal.

About Gold Rush Nugget Bucket

Gold Rush Nugget Bucket is a product featuring a brand new design for those who pan for gold. Mark Peterson invented the Gold Rush Nugget Bucket while managing his mortgage broker company in Oregon.

The product was inspired by the show "Gold Rush," which Peterson and his family had been watching. The show turned into a hobby further pushing Peterson to develop the product.

"This all-in-one design concentrates the smallest of gold particles into one small bowl making the panning process super easy," according to the main site.

"Simply scoop in dirt, pour in water and let the naturally created 'sand trap' do all the work. It's so easy that prospectors of all ages and abilities are using it."

The ask: $60,000 for 15%

How it went down: Cuban asked if there were any sales and Peterson said he had $290,000 in seven months.

Peterson has invested $192,000 in the company so far -- mostly to create the molds for his kit, which he has two patents for.

Cuban dropped out.

Herjavec felt it was not a business and not a hobby and dropped out. Corcoran agreed and dropped out as well.

Grenier liked the product as a kid's toy and not an adult business so she dropped out.

O'Leary thought the idea was ludicrous but offered $60,000 for 50%. Herjavec came back in at $65,000 for 25%.

Peterson accepted Herjavec's offer.

About BoobyPack

BoobyPack is essentially the the "fanny pack for your rack." The product was created by Christina Conrad, the founder of BoobyPack.

Conrad found that many women like her used their bras as alternatives for handbags when they needed to run out or didn't want to carry one.

She did however, find that if she attended a concert or went out for a run, the contents would either fall out of her bra or become covered with sweat.

"In January 2013, she set out to solve this problem, save lives (of cell phones) and liberate America's better half from oppressive purse strings once and for all (!) by launching... a Kickstarter campaign," according to the main site.

"After doubling her fundraising goal, C.C. quit her editorial day job and started churning out rack packs full time."

The ask: $80,000 for a 20% stake

How it went down: Herjavec asked about pricing and was impressed with the margin. The company has $167,000 in sales since its launch in less than a year. The product is sold almost entirely through e-commerce.

Cuban asked about customer acquisition costs and C.C. said she was spending $7 per customer.

She kept saying "SEO" and did not appear to know what that means. She said she used money left to her from her father to fund the company.

Cuban felt the idea would not scale and dropped out. O'Leary thought it was a product and not a company. He offered $80,000 for a $10 royalty in perpetuity.

Corcoran liked C.C. and dropped out because she did not think her help was needed. Grenier thought the company should grow slowly and dropped out.

That left Herjavec who offered $80,000 for 30%. O'Leary changed his offer so after he recouped four times his investment and agreed to take 5% equity. C.C. did not like the royalty deal.

She countered Herjavec at 25% and he passed. Corcoran stepped in and accepted that deal.

About Lumi

Lumi was founded by Jesse Genet and Stephen Ango and is introduced as an alternative to screen printing using sunlight.

Genet started her own t-shirt business at 16 and after meeting Ango years later, the two began working on marketing her idea, eventually using a Kickstarter fund to get started.

"With everything we learned from our own experiments, Kickstarter, and thousands of customers, we launch our best kits yet and partner with major retailers including Urban Outfitters, Michael's and JoAnn Fabrics to launch Inkodye in over 1,500 stores!" says Genet and Ango, according to their sites timeline.

The ask: $250,000 for 5%

How it went down: The company has $1 million in sales in the last 12 months making $40,000.

Herjavec asked to see samples because he was not sure what the company is selling.

Genet project $2.5 million in sales over the next 12 months and she believes the sales potential is very high.

O'Leary though the valuation -- which is 50 times free cash flow -- is ridiculous.

Cuban dropped out first. Corcoran was confused and did not believe in the company so she dropped out.

Grenier was prepared to make an offer and O'Leary jumped in offering $250,000 for 50% of the company. He also offered a $250,000 loan at 8% for 12.5% in equity. Grenier liked the offer and agreed to come in with him.

The company countered with the loan at 5% equity.

Herjavec offered $250,000 for 15%. It was turned down.

Genet asked for another $100,000 for 2% more on the Grenier/O'Leary deal. O"Leary would not budge.

The deal was declined and O'Leary dropped out. Grenier offered to drop the total to 7% and the deal was dead.