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Phil and David have found the head of the bear is the most critical element of the beer drinking experience. Phil and David did a crowdfunding campaign on IndieGoGo raising $250,000 and quit their jobs the next day. The product retails for $199 and costs $35.98 to manufacture. The company just started shipping six months before their Shark Tank presentation and they have sales of $3.2 million. Fizzics delivers the foam that provides a great taste. They offer a taste comparison of the draft setup verses a can or bottled beer. Place your can or bottle into the Fizzics container, and the beer is pressurized to deliver the great taste from draft. Unfortunately the beer doesn't taste as good as it does from the tap when you drink from a can or a bottle. This may have been a case where emotion and passion couldn’t overcome business realities.Fizzics changes the way people drink beer on the road and at home. It was Marti’s deceased mother that motivated her to start this business. Marti and Scott have been selling their product for five years.
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Scott had funded the company with $500K plus a $800K loan. Marti and Scott from Spoonful of Comfort allow people to send “get well” packages including soups, cookies, etc. There was no deal here with Shark Robert saying, “Justin, you don’t don’t know what you don’t know”.
However, Justin came into the tank with an absurd valuation for his company….$10 million for a company averaging $500K in sales per year.
I’ll definitely buy a pair for my grandson. Virtually every young athlete wears flip-flops before and after competing in basketball, baseball, football games, etc. You might wonder why this would be a great business, but not me. Justin from ISlide has created a business that customizes flip-flops with names and logos.
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Mark’s vision is to license the app to a large mobile phone carrier that can use the app as a competitive advantage by pre-loading it on devices to provide a kid-friendly experience for their users. Mark and Lori saw the potential, however, and teamed up again with a $100K deal for 20% of Trisha’s company.
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Unfortunately, some of the Sharks didn’t like her business model because it relies on the bullies to download the app and soften their words….something they’re not likely to do.
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These four will make a strong team, assuming Barbara’s gut feel was wrong.īest of the Rest…….16 year old Trish from ReThink was amazing! She has created a smart phone app that can minimize cyber-bullying, a big problem that schools and parents are trying to monitor and eliminate. Trisha actually wrote the code that makes up the app, and she has a very bright future. Barbara’s gut feel shouldn’t be ignored, but it didn’t stop three of the five remaining Sharks from circling.įizzics ended up getting $2 million from Mark and Lori. Barbara normally has a great gut feel about most entrepreneurs, and she relies heavily on it when deciding whether to invest in an entrepreneur. I feel like you’re too slick and have an answer for everything”. Shark Barbara then stunned everyone when she said to Philip and David, “I am wildly enthusiastic about your product but I’m not wildly enthusiastic about you. Other investors will then come on-board knowing they aren’t the first to take a risk on you). They had a commitment from a lead investor (this is a HUGE factor….one of the first questions from any serious potential investor is “Do you have a lead investor. These two Jersey boys were in the process of raising $2 million at a $10 million pre-money valuation. Their $12.5 valuation was reasonable at about 1.3X this year’s forecasted sales. The Sharks all agreed their product greatly enhanced the taste of beer. Fizzics allows consumers and bars to add flavors to beer. They also walked away with a $2 million deal with Mark and Lori for 16.7% of their company. Philip and David from Fizzics walked away with this week’s Sharky Award for entrepreneurial excellence. Also, for the first time ever, the show included all six Sharks (normally there are five). Excellent Shark Tank Season 8 premiere! The show featured two food/beverage companies, one footwear company, and one technology company.