On Friday night’s installment of “Shark Tank”, that is becoming a global sensation as far as reality television shows is concerned, the investors entered the tank with valuations, -value of the company based on the percentage being offered vs. the investment requested-, that were outrageous. The product they offered sounded more like a gimmick than an actual business that can grow up to make millions.
First, there was the entrepreneur who asked for an investment of $258,000 in exchange for 3% of the business, and what was this magnificent product? Well, it had to do with a bouquet of flowers being shipped from a location on the Equator and the growing fields are at the bottom of a volcano. He left without an investment.
Next came Angel Lift, asking for an investment of $500,000 in exchange of 10% percent of the business, it involved an applicator for inside the mouth kind of whitening strip that puts pressure on the outside of the mouth and erases the wrinkles on that part of the face, but it raises the question, what about the rest of the face, on the temples, side of the eyes? Is around the mouth the only part where wrinkles are a concern? Lori Greiner, -technology innovator, who is best known for her infomercials on QVC-, was left and she made an offer, contingent on this investor showing proof that this pressure item does work, that there is a patent in place, and that he indeed has made the amount of money he claimed to have already made, her offer was $500,000 for 25% of the company, he counter with 15% and a deal was made.
Then it was this 19 year old who had invented a special hanger back when he was in 3rd grade, he asked for $80,000 in exchange for 30% of the business, now this idea is awesome, it is common for most people to yank their clothes of the hanger, and this invention solves it by having the ends collapse as the item is pulled down. Mark Cuban, -owner and chairman of AXS entertinment and owner of the Dallas Mavericks-, accepted the offer contingent on patent verification and asked Lori Greiner if she would like to join because of her QVC connections and she accepted.
“Shark Tank” runs on Friday at 9 p.m. EDT on ABC.