Original subtitles

Tonight on "Shark Tank"...

Wait. There's no crying in cooking.

Do not try this at home.

My organs were, like, falling out of my body.

Who's ready to pop some champagne?

I own that business.

How many have you sold? $2,000.

Oi. That's nothing.

Last year, we actually lost $100,000.

Oi. O'Leary: Oh!

What if I went in with Kevin?

No, I don't want that, Lori.

Are you not human?

What's happening here?

That'll go down in "Shark Tank" history right there.

First in the Tank are sisters

seeking to share an old family recipe with the world.

Hi, Sharks. I'm Casey.

And I'm Vanessa.

We're from Boston, Massachusetts.

And we're the two sisters behind...

Jaju Pierogi! Jaju Pierogi!

Today we're seeking $300,000

for 8% equity in our company, Jaju Pierogi.

Wow.

Okay, I'm actually not a pierogi.

So, Sharks, do you know what our love language is?

It's pierogi.

Pierogi are Eastern European dumplings

traditionally made with potato, cheese, and dough,

boiled... and fried in butter.

Growing up in western Massachusetts,

we always had pierogi

from our grandfather's deli in our freezer.

There was no mac and cheese.

If we were hungry, grab pierogi and fry them up in some butter.

When we went off to college in Boston,

our mom would hand-deliver these same pierogi to our dorms,

and all of our friends would ask,

"Hey, where'd you get those?"

Inspired, we dusted off

our grandfather's handwritten recipes

and got to work creating Jaju Pierogi.

We use the same ingredients our grandfather used.

Our dough tastes like it was rolled out on the kitchen table.

Our pierogi are pre-boiled, flash frozen,

and ready to eat in 10 minutes.

They're great for families and individuals alike.

So, Sharks, who wants to come smell like butter with us?

And make pierogi a household staple?

In front of you, you'll find our lineup of flavors--

potato and cheese, sweet potato/caramelized onion,

jalapeño cheddar, loaded baked potato,

and kielbasa and red bell pepper,

as well as with some sauerkraut and sour cream for dipping.

So, Vanessa, I'm Eastern European.

If I had-- If I was on my deathbed and God said to me,

"Robert, you can have one meal," it would be pierogies.

That's amazing. I grew up on pierogies. I grew up in Pittsburgh.

Pittsburgh, yes. We know!

Alright, here we go.

Mmm!

This is a good pierogi. Wow! Yum.

Let me just tell you,

one of the beauties of pierogies is it's greasy and gooey.

This loaded baked potato is greasy and gooey.

It's so good.

Thanks. It has a lot of umami.

Vanessa, why is it called Jaju?

It is not a not a Polish name.

So "jaju" is the phonetic spelling of "grandfather."

So in Polish,

"jaju" is an affectionate way of saying "grandfather."

Is that your grandfather there?

Yes, our grandfather is here.

So the whole inspiration for this business

is that we grew up around his deli.

In 2016, we went back to the deli,

took our grandfather's handwritten notebook

with all the deli from like 1960

and started tinkering around. That's so beautiful.

And we didn't really know what to expect.

The first market we went to,

we brought 40 boxes and we sold out in an hour.

Wow. We were taking names, phone numbers,

addresses, like, trying to deliver.

But up until the end of last year,

I mean, it's still the two of us.

So we're in 2,500 stores, and it's been the two of us.

Wow. You are?

No brokers, all of us. No brokers, nothing.

Oh, wow. That's an accomplishment. Good for you.

O'Leary: Well, let me give you some good news,

'cause I've done a lot of research in this space.

Pot stickers, dumplings, pierogies

are the fastest-growing convenience food

in America right now, beating pizza growth.

Yep. I invested in it into Brooklyn Dumplings.

When I saw the growth numbers, I couldn't believe it.

And you're in the frozen section?

Yeah. And who are you in? Do you mind saying?

So we're nationwide with Whole Foods,

with Sprouts, and then we're in MOM's Organic.

We're in Harris Teeter. We're in Fresh Market.

Wow. Our sales this year will be $2.7 million.

Are you guys profitable with that?

So last year, we actually lost $100,000,

and we would have been profitable,

but we didn't negotiate for our contract

with a large grocery chain like we should have.

We were very emotional about getting into the chain.

I knew middle of last year

that we were gonna run out of cash,

so I knew that that was the first time

we had to go raise money.

Obviously, I had no idea how to do that,

but my back was against the wall.

So I felt like at the end of last year,

my organs were, like, falling out of my body

because cash flow's such a problem,

like, with food, right?

Like, you put-- You know.

You're growing and you're growing every year,

and then you have no money. And there's no money.

Exactly. So last year,

we raised $400,000 at a $2.25 million valuation.

So you've given away about 20% of the business. 18%.

And, Vanessa, today your valuation is what?

$3.75 million.

$3.75 million in less than a year.

When we raised money, we were not national with Whole Foods.

We are officially national with Whole Foods.

And so we're projected to do $2.7 million,

$2.8 million this year.

We've been in Whole Foods for three weeks nationally,

and we are moving like between 12 and 15 bags,

just starting without any demos, nothing, a week.

That's very high. Are you impressed by that?

Yeah, it's very solid,

but I'm not sure that it justifies that $3.75 million.

Shark! Listen, guys, um,

I don't see it as the right business for me right now.

So I'm out. Thank you, Lori.

Per package, what does it cost you to make,

and what does it cost you to--

what do you sell it at wholesale?

Okay, so for the retail bag,

it's $3.89 for the bag to make.

How many pierogies in it?

There's 12. Okay.

And then the cost to the distributor is $6.33.

Wow. That's not great margins.

That's not great margins. What is the seller retail?

Suggested is $9.99 to $10.99.

That's your problem right there, isn't it?

'Cause you don't have a lot of wiggle room.

You need to knock off 35% off your manufacturing costs.

This is a great product. I love them.

I ate too many of them. That's part of the problem.

I ballooned to 600 pounds.

I have no willpower when it comes to stuff like this,

and I'd rather be a customer than an owner.

So for those reasons, I'm out.

Ladies, I'm gonna crown myself the Pierogi King.

Yes. I love them.

Couldn't love them more.

Here's my offer.

If my fellow friend and Shark, the food king,

Daniel goes in and he wants me as a partner,

I will go in with him.

So if you can talk him into it, I'll come along.

Two Sharks are out.

Robert is interested in Casey and Vanessa's

frozen pierogi business, Jaju,

but he wants to partner with Daniel

for his expertise in the food space.

Guys, you got to talk Daniel into this deal.

I am so excited about everything. Yes.

I just think we need a food guy in this.

Come on, Daniel.

Do you need a food guy? When we heard that you were our guest Shark,

I, like, cried.

I've always admired and wanted to work with you.

Keep going, keep going.

And, like, yeah, I watched you from afar

and, like, what you did with Kind and then Somos

and, like, the energy with that. Robert, I think you do this deal with them,

and we will find a way

to cooperate together and introduce them.

And then if it makes sense, we join forces.

And if not-- My friend.

Mi amigo.

They cried their heart out.

Are you not human?

Did you watch the episode last season

where I did a deal with Toast-It?

Yes. Yes. Yeah.

So it's a sister pair like you.

Yeah, for sure. In some ways,

it'd be kind of fun to do the sisters frozen space.

In other ways, I feel like it might be competitive because--

No.

I really don't think it'd be fair to my partners at Toast-It

to do this without certainty

that it won't be seen by them as competitive.

We think you'd be a great partner, though. We do.

And it's tricky because I do think there could be synergies,

but I am not sure.

So for those reasons, I think I'm out.

Alright. Okay. Thank you, thank you.

Ladies if Daniel's out, I'm out.

Alright, all pierogies lead to Mr. Wonderful.

That's what happens. Here's my offer.

Listen carefully to it, 'cause it's the only way I would do it.

I work with the largest co-packers

and distributors, number one.

Number two... makes the most inexpensive

pot stickers, dumplings, and pierogies.

That's how you would get your costs down.

I own that business.

I bought it just to give me vertical strength

in Brooklyn Dumplings. Those are dumplings.

They're all the same. We'd add this to it.

I don't know how tied you are to Jaju or not,

but I'll give you the $300,000.

I want 20%.

I have the distribution. I have the co-packer.

I have the protein maker.

And I didn't bring up the fact that I do a lot of sales on QVC

as Chef Wonderful in this category.

In fact, I own this category on QVC.

You don't own pierogies.

They're all the same, pot stickers, pierogies.

Listen, you understand what I'm talking about.

The manufacturing of this category of convenient food

is all done in the same mold factory,

whether it's a pierogi, whether it's a pot sticker,

whether it's a dumpling.

I have a question. What if I went in with Kevin?

No, I don't want that, Lori.

Lori, will you make an offer on your own?

What if I went in with Kevin?

No.

So the offer that we have right now is--

because there's a lot of chatter--

is the 20% for $300,000,

and then you want to take the production

to the place that you own?

No, I want you to meet the management of Brooklyn Dumpling,

and you decide which of the elements you're going to use.

He just poofed me away, right? I don't want to do the deal

unless you're using my infrastructure. Okay.

Otherwise, what am I doing this for?

When you see the synergy of what they're building over there,

you'll realize, "Wait a second.

I want to get into the stores across America.

I want Walmart. I want Costco. I want it all."

By the way, you've achieved something-- It's hard.

Was it 2,100 you have? 2,500.

That's nothing.

So because you're bringing us into the infrastructure,

would you be willing to do $300,000 for 10%?

Why would I do that?

It's plug and play, right?

You're adding us to the portfolio. I'm the only offer you have.

I appreciate it, but the answer's no.

And, Robert, you're completely out?

I can help you eat them.

Sometimes it's really great to do deals with other Sharks,

but I have everything you need, everything.

What do you want to do?

I think that, you know, you can speak to the numbers,

but we think that our valuation is fair and that 20%--

And that's fine. 20% is too much for us to give up.

That's fine.

That's how we feel right now. Yeah.

Good for you guys. Good for you guys.

You guys are very impressive.

And you will do great. Yeah.

Okay. Well, thank you. Thank you so much.

Congrats, guys. Thank you, ladies.

Thank you for sharing these with us. Good luck. They're amazing.

Good luck.

We came in to make a deal,

but we know the value of the work we put into this business

and the value of the emotional connection

we have with our customers and the quality of our product.

And we are confident we can move forward from here

and continue to build our business.

And maybe one of the Sharks will call us back one day and,

you know, regret not making that deal, so...

In Season 15,

we watched Ashley Carson and her mother, Karen Walker,

make a deal with Lori Greiner

for their comfortable swim goggles company,

Splash Place Swim Goggles.

Aiden and Jayla are having no problem

putting on their swim goggles,

and there's simply no more pulling and tangling your hair.

Let's see what they're up to now.

The Sharks were really blown away with our sales

and also the fact that we work with local women

in our community to assemble the goggles.

In the seven years before we pitched to the Sharks,

we had almost $7 million in lifetime sales.

And less than a week after "Shark Tank,"

we brought in over $1 million in sales.

It's been less than a year since we closed,

and we now have over $10 million in sales.

Splash Place Swim Goggles can now be found

in nearly all Scheels locations nationwide.

And we're soon launching in REI and Buc-ee's this year.

We're now in over 1,800 retail locations around the world,

including Iceland, the Middle East, and Australia.

You know, I just love the model.

Stay-at-home moms are helping make the product,

pack the product.

It gives them another job.

You're changing their lives.

Our story's a little different than most.

We don't have a college background, neither one of us.

We both prioritize family life.

So it was important for me to give women in our community

an opportunity to be able to provide

for their family, as well.

I was a stay-at-home mom, so working with so many of you

that are also stay-at-home moms really meant a lot to me.

We're at the Wigwam Resort for a special dinner

to thank all the women who have helped us get to this point.

Tonight is the night to honor these women and to lift them up.

Thank you.

We are so thankful to "Shark Tank,"

and we just want to encourage anybody out there

with an entrepreneurial spirit,

if you have an idea, to just go for it,

because you never know where it could take you.

Next up is a product that ensures you'll always have

an essential accessory when you need it.

Howdy, Sharks. My name's Zak.

And I'm from a small town just outside of Dallas, Texas.

I'm seeking $350,000

in exchange for 15% of my company, Permaplug.

Sharks, picture this.

You get home from a long day of work.

You finally get comfy in bed or on the couch.

Your phone's on 1%, so you reach for your charger.

Wait. Where is it?

It's missing again.

So what could you do to try to fix this?

Maybe you could try a sticky note.

"Zak's charger. Do not move."

Use extra-bold lettering and exclamation points

to make sure that they know you're serious this time.

Maybe you could just buy dozens of cheap chargers

every few weeks and hope there's one around when you need it.

Maybe you could even try supergluing your charger

directly to the outlet.

I'm kidding. Do not try this at home.

But somehow, some way, that charger

will still end up getting borrowed but never returned.

This is a daily dilemma for millions,

but not for those who've been lucky enough to discover...

the Permaplug Charger Lock.

Permaplug Charger Lock is a proprietary,

fully patented locking system

that secures your charger and cables into place

so they can't be moved, stolen, or accidentally unplugged.

Let me show you how it works.

First, you'll simply remove your existing outlet cover,

assemble your Permaplug system,

which includes the locking cover, a dual fast charger,

and up to two charging cables.

Then you'll place the Permaplug Charger Lock

directly on your upper outlet,

and then you'll screw it back in

using the included standard screw.

Or you can upgrade to a security screw for added protection.

And boom, start charging without ever worrying about your charger

or the cables growing legs and going missing again.

So, Zak, honey, sweetie, poopsie, baby. He's not done.

Wait. Let him finish. Oh, you're not done?

I know you're excited. I am too.

But we're almost there.

Good answer, Zak. Poopsie baby.

Phones, headphones, tablets, and other devices

are a crucial part of our everyday lives.

They're not going anywhere.

Protecting the lifeline of these devices is a no-brainer.

So, Sharks, who's ready to secure your chargers

and a deal with Permaplug?

Good job. So, poopsie baby, the issue is,

this solves the problem in your home.

But if you're, like, in a hotel or on the road,

it's not really practical, right?

It's just for permanent.

Unless you're the hotel. It depends.

The hotel would be the one that purchases them from us,

and there is a ton of unique applications

in commercial settings, as well.

Oh, that's an interesting point. Yeah.

So you're saying the hotel can then do that so that...

They'll provide it for their guests.

...the guests don't take them away.

Or even their staff in the background.

Can't go ask the front desk for a charging cable. O'Leary: I want to be fair, Zak.

I do not deserve to rip you to pieces if you have sales.

Okay.

Do you have any?

I do. I have about $2,000 in sales.

Oi. $2,000, Zak?

Okay, I am now going to rip you to pieces. $2,000 in sales so far today.

I have $456,000 in sales year to date.

Andale.

That's a great answer. Oh, what a great comeback.

That is a great answer. Thank you.

That'll go down in "Shark Tank" history right there. Yeah. Thank you. Thank you.

How did you get $450,000 in sales?

I brought the sales in all myself.

So I originally filed the patent for this in 2019.

So it goes all the way back, really, to whenever I was a kid.

I grew up with cousins.

We all grew up on the same street.

We always stole each other's chargers.

And then in 2019, I went and stayed at a friend's house,

and when I stayed at his house, I slept on his couch,

and I had my phone plugged in to his charger.

It was superglued to his outlet, so light bulbs flipped,

and I knew this was a good product and brought it to life.

This is for anybody that has one child or more. Right.

I got three teenagers. It happens by the minute. Yeah.

Yeah. How are you selling it today?

The $450,000 sales--

By the way, is that for the year?

That's year to date.

I'm $665,000 lifetime, which is 12 months.

Wow. I launched last year.

Who are you selling it to?

Fully direct to consumer.

My customers range all over the place.

So parents tired of their kids moving the chargers,

siblings, roommates, and a huge one right now is schools.

They're buying them so they can charge the tablets

for their kids. All through social?

All through social media.

All on your website or Amazon?

So Amazon's a huge channel for me,

and I was resistant to doing that at first.

But it's actually 60% of my revenue is Amazon now.

And I don't love that because I don't own the customer data.

You guys know how that is.

But I incentivize people to try to buy on my website

with better pricing.

Are you buying a lot of ads?

Most of my marketing is organic.

I do have a retargeting funnel set up

so I can just retarget the people

that have engaged with my organic. Good for you. Yeah, good for you.

So, and I have an SEO background.

So I built all of these automation tools

using automation and AI.

So, for instance, like, if I'm talking to somebody

and they say, you know,

"What's the best Father's Day gift for 2024?"

I can text myself that, generate a blog post,

make sure Permaplug is number-one... I love that.

...Father's Day present,

automatically published on my site and indexed by Google.

I want to go back to this-- $350,000, 15%.

What are you gonna do with the $350,000?

I'll use it to help increase my float.

So I've got a decent amount of money in the bank,

but I am playing cat and mouse a little bit

with inventory, buying, cash flow in the bank.

How much inventory do you have? What is a container? What's a container?

I have about $80,000 worth of inventory right now.

Wow, that's a lot.

That's my hard cost.

But, I mean, I'm selling 15,000 units,

so I'm moving them pretty quickly.

You making any money on the $465,000 year to date?

Absolutely. My margin's around 58%.

So super-healthy margins. What did you put in your pocket, anything?

What does it cost, and what do you sell it for?

So I buy those for about $6.50 each

and I sell them for about $35 on average.

Do you know your customer acquisition cost

in the last few months?

They're less than 15 bucks

'cause I'm only doing warm retargeting.

If they have not engaged intensely

with one of my organic videos,

then I'm not paying to advertise to them. So it costs you 15 bucks to acquire a customer.

And the average order size?

It's around $58.

Alright, look, I thought this was a joke.

I got to be honest with you, Zak.

Obviously, sales say no.

And you sound very credible.

So here's an offer for you.

I'll do the $350,000, 15%.

I want 2 bucks a unit in royalties in perpetuity.

I'm curious who's on your team.

How much-- Just you?

One-man band. This is all me and my wife.

We have a 24-hour fulfillment promise notice. You and your wife.

We're up till midnight packing orders every single night. Doing everything.

It's your full-time job. Yep.

And do you have any debt? Do you own it 100%?

I own it 100%. Zero debt.

So I am doing this full time now.

I'm living off of my savings for now.

I don't plan to take any sort of profit or salary

from the company until 2025,

just to make sure that I have enough float for the company

and there's enough inventory

and I'm not fighting with paying myself for that.

So I've saved up enough from my job to live off of until then.

But I do plan on, you know,

obviously taking a modest salary next year.

Good for you, man. Thank you.

You know, everybody I meet wants to be successful,

but so few people are willing to make the sacrifice

and pay the price.

We've made a ton of sacrifices, too, honestly.

Like, I mean, my wife especially,

she's put in tons of work with me.

She doesn't have to do any of that.

She's got two full-time jobs, taking care of a 3 1/2-year-old

and a 2 1/2-month-old right now.

So she's out there grinding with me.

I'm here right now, and she's at home packing orders.

Zak, what's your reaction

to Mr. Wonderful's not-so-wonderful offer?

Well, I figured coming in here,

I may get an offer something like that.

I would not be open to a perpetuity deal,

but I would be open to giving a royalty to anybody,

for that matter, until your money's paid back

because I don't like borrowing money.

Zak, why is that interesting to an investor?

Because I give you my money. I put it at risk.

I wait two and a half to three years to get it back.

I make nothing on it.

Could be sitting in the bank making 5.24%.

The only other value is an exit on the value of the patent,

which may or may not play out.

So you're putting your largest investor at 100% risk.

Well, I'll give you your $350,000 for 25%, no royalty.

Okay. If you don't mind me asking,

what does that put the valuation at?

$1.4 million. $1.4 million? Okay.

O'Leary: He's doing $1.4 million.

Zak, I have good news and I have bad news.

Okay. What do you want first?

Ask for the bad news.

I'm a delayed-gratification type of guy,

so I'll go bad news first.

Always get the bad news first.

There you go.

I'm out. Always.

Want to know the good news? That's the good news?

Yes, ma'am.

I'm back in. Okay. Thank goodness.

My next question was gonna be--

I had to do that to you for, like,

your whole what you did to us. Oh, yeah, the $2,000, yeah.

Yes, with the $2,000. That was a good one.

Okay. I thought you'd appreciate that.

I did. So I'm going to offer you $350,000.

I would like 20%. Okay.

And I'd like a royalty of $1

until I get paid back my money. Okay, okay.

Because I think together, we'll be a powerhouse.

That's my offer.

Alright, that's a great offer.

What are you gonna do? Think about. Here's my thing. I'm like Kevin.

I didn't think it was real. I thought you were...

That is true. ...you were negligible at best.

But congratulations. Thank you.

You're doing great.

It's just not for me.

Yes, sir. I'm out.

Thank you for your time. I appreciate it.

Yeah, Zak, I'm kind of in the same boat.

Okay. It's a great product, but you know SEO already,

you know, maybe some cash flow things.

You've got this on lockdown and you know it, right?

I appreciate that. Thank you. And so, yeah, it's just not a fit for me.

So for those reasons, I'm out. Okay.

You have three offers.

She's got the best offer on the table.

Well, no, she's not Mr. Wonderful.

What does that mean?

Well, it means what it is.

I've done my research on all this and you guys.

I've watched this show. I have the best offer on the table.

I am also the best partner for you.

I grew up not caring about being an athlete.

I didn't look up to any athletes.

I didn't look up to any actors or anything.

I looked up to people like you guys.

So I know everything about all of you.

And I know what you've done with companies and you,

and everything you guys have all done is extremely motivational.

It's inspirational.

This is everything I've ever worked for.

Lori's offer is by far, I mean, in my opinion, just--

I came here, my wife wants me to work with you.

So there you go.

I would love to close a deal with you, Lori.

Thank you. Yay! Boom.

Congratulations. Congrats, Zak.

I love it. Thank you.

I think it's so really good. Smart, smart, smart. I appreciate it. I am honored.

Thank you so much. Thank you.

Thank you. We're gonna blow it up.

Thank you. There should be like five in every home.

There will be with your help. In every single plug.

Good job. Thank you. Thank you all.

I appreciate all of your time. Thank you so much. Congrats.

Zak, great job. You're really impressive.

Thank you. I appreciate you all. Good luck.

Have a good one.

Thank you, Jesus. Thank you, God.

I just closed a deal with Lori.

I mean, that's exactly who I wanted to work with when I came in here.

Lori has so much expertise.

She's blown up companies like Scrub Daddy

and so many others that really just needed that initial push.

And that's really all I need to get this out there.

I've reached a few million people on my own,

but I know that she can help get that number way up higher.

Next into the Tank is a product designed

to blow away a common cooking hazard.

Wait. There's no crying in cooking.

Not if we have anything to say about it.

Hey, Sharks. My name is Glenn Smith.

And I'm his daughter and business partner, Madison Smith.

And today we are here seeking $90,000

for 15% equity in our company.

Sharks, for generations, cooks around the world

have sought relief from the infamous onion tears.

The burning, the itching, my eyes!

Cutting onions is painful,

and we have tried all the hacks,

and none of them have worked for us.

We have tried chewing on bread while cutting.

We've put a matchstick between our teeth.

And this guy has even worn yard goggles in the kitchen.

And trust us, Sharks.

None of these hacks have worked for us,

which is why we invented...

the Fanion. The Fanion.

The Fanion is a countertop cute cordless fan

that is placed next to your cutting board

which simply blows away the fumes and vapors

of eye-irritating vegetables such as onions,

shallots, peppers, garlic, et cetera.

You'll only cry tears of joy.

It really is that simple.

So come on, Sharks.

Who's ready to chop it up with the Fanion?

And who's ready to be blown away?

Now, Sharks, no need to get weepy.

You each have a Fanion to blow those tears away.

So you have an onion, a knife, and a Fanion

to really put this to the test.

Oh, wow. So there's a lever on the back

that'll turn it on, and you can get to chopping.

And, Madison, do most people cry with onions?

Yes. Yeah. I do.

Now, why would you not?

Like, I don't really often cry. I don't. I don't.

Like, this doesn't sting me at all. Why would that be?

Really? I am told that if you wear contacts,

that can be something that-- I do wear contacts.

I wear contacts. If you wear contacts.

If you wear contacts, you're lucky. If you wear contacts, you're lucky.

You know, a unique attribute about vampires--

I'm a vampire-- we don't have to cry about onions.

We can cut any kind of vegetable no problem at all,

as long as it's dark outside.

Is this your full-time jobs? No.

And also, please tell us about you.

You go ahead. I am a vice president of a large U.S. poultry company.

I buy feed ingredients to feed chickens.

And, Madison, what do you do?

After graduating from Georgia Tech,

I studied industrial engineering,

and I've worked in the technology

and supply chain spaces for about the last four years.

So this is a very simple product.

I get it. How much to buy it?

We sell them for $19.99 on our website.

And what does it cost you to make them?

$8.09. Well, you know your numbers.

How many do you sell?

We launched in November. We just launched in November.

And? So about seven months.

We have sold almost 1,800.

We have $28,000 in sales.

That's not bad. Not bad at all.

How are you guys promoting it?

We've predominantly done social media.

We've put a lot of money into running ads.

And how much money have you spent on advertising so far?

On advertising, about $17,000 to $18,000.

And how much money have you invested to get it to this?

$468,000.

Wow. Hello.

That's a lot of crying over onions.

Where did you get the money to spend $468,000?

Cash, credit, home equity.

How? What did you used to do?

Home equity, too?

Home equity, as well. Correct.

Oi. O'Leary: Oh!

Whoa. But what did you spend that on for this?

Mostly inventory.

How much do you have in inventory at your cost? Inventory?

How much do you have in inventory at your cost?

31,000 units.

Oh, okay, so that's 250 grand, basically. Correct.

You got 31,000 units.

What is it costing you to acquire a customer right now?

Do you know?

How much did you spend on advertising

divided by the number of units you've sold.

So $17,000 divided by--

Almost 1,800. Yeah.

Right. So about 10 bucks a unit.

Yeah. So you're breaking even, yeah.

O'Leary: Okay, this is not a good number.

You're not making any money.

Right now you're losing some.

Yes.

What's the plan to sell the existing sunk inventory?

That is why we are here, is that we need help with that.

We really started trying to go 100% direct to consumer.

Over 10,000 Google searches happen every month

of people searching how to stop crying while cutting onions.

I mean, there's viral TikTok videos.

This is definitely-- And it works.

We know that it works,

and there's not a product out there like it.

And everybody loves a kitchen gadget.

I mean, come on. Yeah, but maybe there's a reason

why there's not a product out there like it.

Look, guys, I give you a lot of credit

for diving in and going for it,

but this is too niche a market, right?

Because when you limit it just to onions,

that's too small, right?

And not a lot of people are gonna spend $19.95

just to be able to do onions alone.

So for those reasons, I'm out.

Thank you, Mark.

Here's the thing.

It's something that happens all the time.

I watch it with entrepreneurs.

You get so excited that you don't realize

one of the most perilous pitfalls

when you first create a product

is ordering in too much inventory without sales.

You've sold 1,800 in 8 months, give or take.

You're sitting on 31,000.

This could take you 10 years or more, right, to sell it.

So what I think you should do, a suggestion,

is sell it to someone at your cost just to break even

but to get money back,

'cause you don't want to sit on that big of an expense.

It's not a journey that I want to take

'cause I know it's a rough road.

But I wish you good luck. I hope you try that.

I'm sorry. I'm out.

You got a bunch of money tied up in inventory here, 250 grand.

So if you sold these things at $9.99,

you'd get half your money back

and you'd say the other was a lesson in life.

31,000 units, that's worth crying about, not the onion.

I can't help you because I can't help you.

I'm out.

All my friends that have never started a business,

they think that starting a business

is like standing on the edge of a cliff,

ordering 30,000 units, and jumping into the water.

Great entrepreneurs learn about controlled risk.

You never want to make a mistake that's gonna kill you.

It's very hard to come back from the dead.

Kevin's done it, but very few.

And by the way, it works.

You made a big risk, and now you're stuck with it.

You got to get rid of that inventory.

There is no, "We're gonna grow our market.

We're gonna sell it here."

Get rid of the inventory that you have, even at a loss,

even if you get 50 cents on the dollar.

I disagree. They're being very melodramatic.

No, they got to rid of-- O'Leary: Are you in again?

It's not dramatic. They took a line of credit on their house to get here.

Okay, welcome to the Onion Advice Tank.

It's not for me 'cause it's not investable.

I hope you get some of that cash back.

I'm out.

Glenn and Madison,

I love the fact that you're working together.

My daughter's here watching "Shark Tank" today. Yeah, I love that.

And it's such a special thing.

It's the most important thing in the world,

'cause my dad is no longer here with me

and I wish he was around and I just miss him.

And I love the fact that you guys

can have this journey together.

Aw.

I wish you the best of luck, but I'm out.

Thank you very much. Good luck, you guys.

Thank y'all so much. Madison, you're great. Take care.

It was nice meeting you all.

Good luck, guys. I hope you make it work.

Good luck. Get some of that cash back.

There's an onion. There's an onion.

Onions everywhere.

Come here.

The message that we just heard was, "Get rid of them.

Cut your losses and go home."

And, you know, if that's the way it ultimately comes down

and that's what happens, it won't be for lack of trying,

but I'm not gonna punt.

Next into the Tank is a stylish upgrade

to an everyday appliance.

Hi, Sharks. I'm Alyse.

And I'm Sam.

And we're seeking $600,000

for 3% of our company, Rocco. Wow.

Actually, Sam, before we get started, I'm a little thirsty.

Why don't you just go grab a drink

from my kitchen fridge over there?

One second, Sharks. I'm so sorry.

There should be a soda in there.

You might just have to dig a little bit.

Oh. Oh.

Oh! Sam. I hate it when that happens.

I can't find anything in here.

There's leftovers. There's produce.

Where's the drinks?

I think it should be behind the lasagna

or the pizza box, maybe.

No.

Oh. That's embarrassing.

Sharks, as you can see, kitchen fridges are crowded.

They're cluttered. They're just plain chaotic.

That's why we created the Rocco Super Smart Drinks Fridge.

It's designed as furniture

so you can keep all of your favorite drinks

away from those leftovers.

And where you actually drink them-- in the living room.

You might be thinking, "Eh, this is just another wine fridge."

Sorry, Mr. Wonderful, but nobody just drinks wine anymore.

We created a one-of-a-kind shelving system

that accommodates all sizes of bottles and cans,

everything from ginger shots to champagne.

The top doubles as a pour, serve, store station.

AKA, it's also a bar cart.

And with our patent-pending sight system,

you can even see inside your fridge right from your phone.

Imagine you're at the grocery store.

You're having friends over later

and you can't remember if you have enough beer.

Now all you have to do is look at the app

and you'll know exactly how much you need.

So, Sharks, who's ready to do a deal and pop some champagne?

Alright.

I know what's coming. Alright, you know what's coming.

I know what's coming.

O'Leary: Un, deux, trois.

Des Chevaliers du Tastevin!

And in front of you are the trays

that come with the fridge to kind of turn it into a bar cart.

How much is the fridge?

The fridge is $1,495,

and we currently offer early-access pricing of $1,295.

Is that a lot for a basic--

No, as a matter of fact, I just bought two. No?

Not of yours-- I didn't know about yours--

but of a different one.

And I will tell you, yours is the right price.

And what the guy was trying to sell me... How much did you spend?

...was three times as much.

O'Leary: How does the app work?

Do I actually see into the fridge?

So every time you put something in or take it out,

it automatically images it, no scanning whatsoever,

and your app will update.

So I see shelf by shelf by shelf? What do I see?

Shelf by shelf.

That's an innovation I haven't seen.

Now, tell us about the two of you.

Yes, so Sam and I have a combined

20 years of experience in start-ups.

I cold e-mailed Casper, the mattress company,

and I helped build the brand from the ground up.

Then I went to Billie, the women's razor brand,

which sold a few years ago

to one of the biggest CPG companies.

Sam spent many years at Away

leading supply chain and product development,

and while he was at Away, the suitcase brand,

his work actually took him to fridge factories,

because believe it or not,

there are manufacturing similarities

between fridges and suitcases.

You sell it for $1,295 or $1,495.

What does it cost you to make?

So our landed costs are $575.

And then after shipping, which is another $130 to $160,

depending on where you are in the country,

it gets to around $750 to $775.

So you don't have much margin. No.

How do you sell it?

Direct to consumer.

How many have you sold?

Just over 3,000.

Sam, have you guys raised a lot of money?

We raised $1 million about two years ago.

At what valuation?

That was at $10 million on a post-money SAFE.

Why are you telling us you're worth $20 million now?

So that was two years ago before we even had a prototype.

We've been in market for eight months.

We've done $4 million of revenue.

We're profitable. In eight months?

In eight months. And you've shipped that?

Have you collected that already? We've shipped that.

You've shipped that. That's shipped.

And we've ordered enough units

to be able to do a $12 million year this year,

which is what we're forecasting.

And on that $4 million,

how much have you spent

to create the buzz? $12 million.

So we have a return on ad spend of five times.

So we spend about $250 per fridge, or 20% of our revenue.

Look, I like it. I like the story.

I like the pitch. I like the whole direct.

You guys are great.

I just don't like the valuation.

So here's what I'll do.

I'll give you the $600,000 for 10%.

Well, they're gonna jump at that.

I think they should.

I think they should.

Wow. That was a very loud laugh.

That's how I laugh all the time.

Look, I don't think you're worth more than 6 million bucks.

I'm sorry.

Guys, I think it's a beautiful product.

I'm not sure I see the vision.

I just don't see it. I'm out.

Thank you. Appreciate it. Thank you.

Guys, here's where I'm at.

Look, great product, great company.

The problem is a math problem.

When you price it at a $20 million valuation,

in order for me to get my $600,000 back,

you have to do $20 million in net cash flow profits.

$20 million cash flow profits,

3% of that is my $600,000 back.

If I want to get a multiple return,

since it's a risky environment,

let's just say three or four times,

you need to do $60 million, $80 million in free cash flow

to give me a return.

That's the challenge of making this investment.

So for those reasons, I'm out.

Yeah, and I'm kind of in a similar place.

It's very hard to imagine that things could pan out in a way

that would be good for you and for us.

I also was thinking about how I could add value to you,

and I probably could find a few ways,

but I don't know that I would be the best Shark

for you for this deal, so for those reasons, I'm out.

Thank you. Lori?

You know, listen, I love you both.

The real problem for me is your valuation.

I mean, it's rough. Mark said it all.

I'm not even gonna try to repeat it,

'cause he really said it all quite squarely.

What would you consider to be reasonable?

Yeah. We're open.

Oh, you guys would not want to even know.

Kevin was at 10%. I'm gonna be honest.

Like, to me, you're so start-up, I would have been at 20%,

which you're never gonna consider.

It just doesn't feel like the right deal.

So I'm sorry. I'm out.

All roads lead to Mr. Wonderful.

Well, I really think you heard it from everybody

in the same succinct way.

Valuation's a huge problem.

I actually think your offer is generous.

I do. I gave them a $6 million valuation

with no path to liquidity.

So there's a lot of risk in it.

I just happen to think my social would blow this up so huge

if you were able to figure out a way to fulfill.

And I also think I can reduce your CAC.

Do you mind if we talk about your offer for a second?

Speak amongst yourselves.

Thank you.

A lot of whispering going on.

No, I've actually been thinking about

your free cash flow comment. Uh-huh.

But this is a category where the free cash flows of,

say, Whirlpool, it's $1 billion.

Haier, who bought out GE, it's $2 billion.

How many products do they have? They have five.

How long did it take them to get there? 100 years.

What's happening here? He didn't make the offer.

Kevin has an off on the table, which doesn't always stay there.

O'Leary: Actually, I have to be honest with you guys.

I'm out.

All five Sharks are out.

Sam and Alyse had an offer on the table from Kevin

for their designer beverage fridge, Rocco.

But their hesitation led to a change of heart.

The only offer you had was me.

And then you're talking to Cuban again.

You know, Mr. Wonderful doesn't feel good about that.

You hurt his feelings.

And I now will forget who you are tomorrow morning,

because there's gonna be five more deals

coming through that door. Kevin.

I'm out. See you guys later. Ciao.

We wanted to offer a royalty.

I'm not sure if there's a way to get you back in.

What's your offer? What is it?

We want to-- We can be a little flexible on the valuation.

What's the offer?

Let's do a royalty

particularly tied to your channels.

No, I'm not doing that.

The minute my name is on this, it's every unit gets a royalty,

because all of a sudden it's a Mr. Wonderful deal.

If you don't believe that, talk to my 54 CEOs.

See what they say. What's the royalty you would give?

Yeah, but only on what Kevin generates is what he's saying.

No, I'm not doing that.

I don't need a job. He's making him a commissioned salesperson.

I'm an investor with a huge brand. I'm just curious.

What's the royalty you would give?

What would you give?

You do the marketing numbers.

I'm not doing that deal. I'm not for hire.

Well, just tell us what the royalty was. I'm the one asking.

It was $50.

$50 a fridge... $50 a fridge.

...until you get your money back.

I just want to throw something back at you.

Okay. No qualifiers.

But $600,000, $50 a fridge. That's it?

If we can keep the regular equity ask,

we'll do $50 every fridge until your money's back.

3%? $50 every fridge.

Would you do it at 5%?

4%?

5%?

4%?

5%?

Can we talk about that for one second?

I'd do it at 3% in perpetuity.

Which is forever.

Take the deal. I mean, you're gonna lift.

And we plan to be around for a long time, so...

I do, too, I hope. That's a long time.

As long as Whirlpool.

4% and until you get your money back.

We'll meet you in the middle.

How about 4% until I get my money back

plus another $300,000?

Done. Done.

There you go. Wonderful.

Boom! Ooh! Who knew?

Now, I bought that other fridge.

Oh, my God. Well, we're gonna have to replace them.

Thank you, Lori. Thank you so much.

Thank you. Yeah. Good deal. Good deal.

Thank you. Congratulations, guys.

Thank you. Thank you, everyone.

We did it!

We got a Shark.

They were all out, and then she came back in.

Whew.

I thought it was a great deal.

I don't have anything to lose.

They're already selling them within a year.

You're putting up 600 grand to make 300.

They're selling that much.

If they're right, within a year, I'm gonna make my money back.

I think that deal sucks.

Well, of course you think it sucks.

I'd never do that deal. 'Cause you didn't get it.

It's a good deal, Lori. Thank you, Mark.

You're welcome, Lori.

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