This is the “Shark Tank” recap for 1/27/12 with details of what whales took on the sharks in the tank tonight. Last week, there was a feeding frenzy in the shark tank with one of the ventures; was there a repeat entrepreneur this week? Check out what happened on “Shark Tank” this evening~
The first entrepreneur into the tank is Steve Gadlin who is a website designer by day and a cartoonist by night. He is pitching “I Want To Draw A Cat For You” which is an online business where people send in requests for a cartoon cat drawing which is posted on the Internet. He is seeking $10,000 and in exchange is offering a 25% stake in the business. His presentation is kickass as he does a catchy rap with a “signature” dance which has the sharks almost rolling on the floor in laughter. Although it seems most of the sharks do not “get” the concept, Mark Cuban certainly does and immediately jumps on the deal requesting a 33% stake for $25,000 capital. Steve and Mark are now partners!
The next business that walks through the doors is Salespreneur, LLC which is the intellectual property of Dave Greco who is requesting $90,000 for 40% stake. Although he is definitely a great salesman and it is evident he knows what he is talking about, the sharks do not seem interested in his sales pitch to take this concept mobile feeling he is better served in the seminar venue. This program teaches people how to sell and he has made $40,000 in three months which is pretty remarkable. Mark Cuban asks if he offered the money for the stake would the deal be closed RIGHT NOW? Dave makes the ultimate mistake and turns to Barbara Corcoran to ask if she has an offer. She gives her thoughts that he is moving too fast without looking where he is leaping and is out. Dave then turns to Mark Cuban to ask what needs to be done to make this deal happen and it is obvious, he didn’t catch Mark’s initial lesson which was “Shut up and close the deal!” As he is sweating, Mark is out, and that is when Dave thanks the sharks and walks out…broke!
There is an update on Citikity which was a toilet training program for cat whose deal was struck with Kevin Harrington. It was launched in Walgreen’s and made a remarkable $1M in sales last year! Great work! The next business up is actually some magician from Ohio who is looking for a HUGE capital boost to launch his career in Las Vegas as Rick Smith, Jr waltzes in asking for $1.5M for 20% making the claim his net worth is nearly 3/4 of a million….hmmm, not likely! Is it because he flunked out of the auditions for “America’s Got Talent” or did his ego allow him to think he is just too good to try out? He has some interesting tricks such as cutting celery with a playing card, but it is not enough to bowl the sharks over and all are out, sending him packing!
The final whale in to the tank this evening is Donnie McCall, a good ole boy from South Carolina, who nearly breaks down in to tears when he talks about his product and how he wants to do his part to help the American people and economy by keeping the manufacturing in the United States. His pitch is for $100,000 and a 20% stake in Invis-A-Rack which is a portable but collapsible rack system for hauling and defined as an innovative cargo management system. Although the idea is great, the business is not at a point where it has an orders and all the businesses interesting in promoting it want “point of purchase” displays. Although Robert Herjavec is brought literally to tears as he talks about his father as he came from manufacturing roots, he cannot endorse a deal since Donnie is unwilling to take the product offshore for production at a price point that would create profit. All of the other sharks are out for the same reason and Donnie walks away with a great idea but no money in hand!
Image and video clip courtesy of ABC