Last night’s latest episode of Shark Tank featured a familiar face in Echo Valley Meats‘ Dave Alwan and three entrepreneurs new to the Tank (EmazingLights, AquaVault Portable Travel Safe and Naja Lingerie). With yet another week of brand new Shark Tank products behind us, here’s a recap of who walked out with a deal and who did not in Season 6, Episode 22.
Echo Valley Meats
Dave Alwan previously came into the Shark Tank back in Season 4 asking for $300,000 for 20% of his company. Dave did not fare so well as he failed to impress the Sharks with lack of knowledge on the numbers that matter. This time around, Mr. Alwan lowered the valuation of his company and asked for $150,000 for that same 20%. After feeding the Sharks his delicious meats, Dave delivered on what he could not two years prior in offering the likes of customer acquisition costs and customer retainment information. Being a repeat customer of Echo Valley Meats, Mark Cuban bit on a deal, offering the $150,000 for 25% with an option for equity on the entire business. The deal was accepted.
While in the Tank, Brian Lim showed off his clubbing, music festival and rave products EmazingLights. He explained his LED lighting technology company is currently favored by the rave and clubbing market, holding 80% when compared to his competitors. His most popular product, EmazingLights LED Gloves wowed the Sharks in a cool light show performance. This got the attention of every Shark, including Mr. Wonderful. Lori Greiner and Robert Herjavec teamed up offering 1 Million for 5% of the company, while Mark Cuban and Daymond John offered their entrepreneurial powers and know-hows for the exact investment Brian was looking for. Surprisingly, Lim accepted the latter as he was looking at the expertise value of the Sharks rather than the cash value itself. The deal accepted was $650,000 for 5% with 20% in licensing commissions.
AquaVault Portable Travel Safe
Entering the Tank, Rob, Jonathan and Avin pitched AquaVault, asking for $75,000 at 12% equity. AquaVault is a portable travel safe, perfect for vacation goers who want to protect their valuables when out and about at the beach, hotel pools, etc. Connecting to 95% of existing beach furniture and solving a nagging issue. Naturally, Daymond John saw the value in the product for hotels, resorts and beaches and offered the boys $75,000 for 25% of the company. They accepted.
Touted as lingerie for women (not men), Naja is a new lingerie brand that provides better and more affordable bras and underwear. While the brand is not huge, the identity and uniqueness is there. Almost from the very get go, Catalina Girald of Naja ran into problems while in the Tank. From Silicon Valley and a Standford graduate, Catalin valued the company at 10 million, offering $500,000 for 5%. This immediately raised some eye brows. Turns out, Girald was basing this valuation not on the sales alone, but on the investment of a single past investor. Aside from this there were a few other squabbles and from then on it was rather clear the Sharks were not going to bite on this deal. You can tell Daymond really liked the potential of the fashionable product though, just not nearly enough to make the kind of investment Catalina was looking for.
March 13, 2015 Press Release
SHARK TANK – “Episode 621″ – A cattleman from Peoria, IL gets a second chance to show the Sharks what he’s learned about his gourmet meat business since his Season 4 visit to the Tank; and a lawyer/MBA graduate from San Francisco, CA pitches a lingerie line that is sewn by women in need. Also, an update on Jeff & Jennifer Martin from New York, NY and their irresistible snack, Pipcorn, in which Barbara Corcoran invested in during Season 6, on “Shark Tank,” FRIDAY, MARCH 13 (9:00-10:01 p.m., ET) on the ABC Television Network. (ABC/Michael Desmond)