« All News

Search RealityWanted News

Loading

 

 

 

 


 



 


 

 

 

Shark Tank: Episode 5 Recap

Posted on 09/06/2009 by Gina in Shark Tank

| More

Shark Tank

by Michelle Spigner

 

On tonight’s episode of Shark Tank, a colorful character is up first. Sixty-five year-old Cactus Jack from Iowa enters the tank looking like a retired cowboy in an outfit complete with a suede fringe jacket and a ten-gallon hat.  Jack has never had a real job and has worked as an entrepreneur his entire life selling his inventions for a living. He has made millions but has also gone bankrupt and he is hoping the investors will take the risk this time with his newest invention, the Body Jack. It is an exercise machine that assists with push-ups and builds upper body strength. Jack asks for $180,000 for 20% stake. Kevin H. is interested in the deal and offers $90,000 for 50% stake and Barbara goes in on it too. However, Barbara’s condition is that Jack proves his machine works by using it to melt down his beer gut and lose 30lbs. Daymond interrupts the closing of this deal with an offer to obtain he entire company. He will give the total $180,000 for 50% of all the Cactus Jack products plus Jack won’t have to lose the weight. In the end Jack goes with Barbara and Kevin H.

 

Irina Blok is up next with her interesting idea to shake up the medical clothing industry. Irina believes she has created the next big trend with Face Blok, a collection of fashion surgical masks for doctors and nurses with a unique sense of humor. The images on the masks include a pig nose, a skull and a mouth with a beard. The sharks thought her idea was a little strange and the fact that she had sold only a couple hundred makes despite a flood of media coverage didn’t help sway them. The sharks are not impressed and don’t see it as an investable concept.

 

Entering the tank next, is Jeff Cohen a family man who has created a new snack for diabetics like himself. Jeff asks for $175,000 for 20% stake in his company Granola Gourmet, “energy bars for athletes, diabetics and you”. His biggest success has come from getting his bars into 24 Whole Foods grocers in southern California. He has made about $60,00 in the seven months he has had them in the market. Even still, the sharks opt out one by one thinking Granola Gourmet just isn’t unique enough. Kevin O. was especially critical of Jeff, calling him “radioactive” because he had gone bankrupt in a past business venture. Robert was quick to defend Jeff, but still didn’t offer him a deal.

 

Rikki Farrar would not have created her business Good Grief Celebrations if her mother had not passed. The life celebration party she planned for her mother’s passing inspired her to start a business that offers this type of funeral service to others. She is asking for $50,000 for 25% stake in the company. The sharks seem a little creeped out by the idea, especially Robert who thinks her tactics to get clients (going to hospices and retirement homes) takes advantage of people during their grief stage. Kevin O. is the only one who is into the idea, in fact he says he loves it, but doesn’t see how Rikki can compete with funeral business that actually have a parlor. For those reasons Rikki gets no deals.

 

Last to enter the shark tank are two Brazilian brothers who came to the states to fulfill their American Dream. Alexis and Rodolfo Saccomon ask for $80,000 for 20% stake in their business that moves emotional therapy to the Internet. Their service, available for monthly subscription, allows people to write in a daily journal and track their feelings and ambitions. Problem is over a thousand people have signed up for a free trial but only 121 continued on to be paying users. Barbara and Kevin H. are out almost immediately, but the Saccomon brothers have withheld a valuable piece of information. It turns out a large insurance company is interested in using their service for some of their members. This information perks the ears of the remaining sharks and Daymond, Kevin O., and Robert go in on a deal offering $80,000 for 51% of the business.

 

While the Saccomon brothers are in the hall discussing the proposed deal, Kevin O. and Robert decide to exclude Daymond from their offer because they believe that with their online experience they make a better team by themselves. The brothers come back and bring a counter offer of 49% stake, hoping to keep 51% and more control of the business. Robert and Kevin O. are unwilling to give up the 2%, but Daymond brings his own offer making the choice a little trickier. He offers $120,000 for 50% stake like the Saccomons are looking for. In the end the brothers go with Kevin O. and Robert because they really want their expertise on how to make their website a booming online business.

 

 

Shark Tank airs Sunday nights at 9pm ET on ABC.

 

(Image courtesy of ABC)

 

For more Shark Tank Links visit Sirlinksalot.net


  


Rate this article

  • Currently 5.00/5

Rating: 5.0/5 (1 vote cast) (Log in to vote!)


blog comments powered by Disqus

Go back to the previous page