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Shark Tank (2009)

Plot

Episode #4.8

Shark Tank

Edit

Summaries

  • Seth MacFarlane shows his support for a man who designed a new fly trap.

Synopsis

  • In the Shark Tank episode, three entrepreneurs presented their innovative products seeking investments from the Sharks. Sharks attending are Mark, Daymond, Kevin, Lori and Robert

    First up was Ginelle Mills with her product "Cool Wazoo," a 5-in-1 baby mat cover, seeking $65,000 for 25% equity. The product had gained some attention after being featured on the Today show but faced initial challenges with an 85% defect rate in the first production run. Despite this, Ginelle managed to make $14,000 in sales from that event. Subsequently, she appeared on the Doctor's show, where she offered 250 free units to the audience, resulting in sales of $20,000 in the last 12 months. The production costs in the US were $30, with a retail price of $65 and a wholesale price of $32.50. To improve profitability, Ginelle needed to move production overseas, where costs would be reduced to $11.36 per unit. The business had incurred losses of $96,000 so far. Robert is out as he cant be as supportive as Ginelle's husband. Kevin is out as he knows he will lose money. Daymond it out since she is not a seasoned CEO. Lori doesn't think this product is a hero and is out. Mark is out since it is not a company yet. Ginelle starts crying, Lori offers $65,000 for 25%. Ginelle accepts.

    Next, Bruce Gaither pitched his product "No Fly Cone," a fly trap using dog excrement as bait. He was seeking $25,000 for 15% equity. The product had achieved sales of 3000 units in the last year, but it didn't interest most of the Sharks due to its unconventional bait. Kevin is out since he has no interest in it. Mark is out since he has no connections to help Bruce. Despite actor Seth MacFarlane's cameo to pitch the product, none of the Sharks saw the potential and eventually all backed out, including Kevin, Mark, Daymond, Lori, and Robert. Note: Actor Seth MacFarlane makes a cameo to pitch for No Fly Cone.

    Finally, Michael Tseng presented "PlateTopper," airtight plate covers designed for microwave and dishwasher use. He was seeking $90,000 for 5% equity. The product had received purchase orders from major retailers, QVC, and Walmart, totaling over $1 million, with a substantial margin of half a million dollars. Kevin offers $90,000 for 5% royalty. Lori offers $90,000 for 30%. Daymond says that Lori can offer only QVC, Daymond offers $1 million for 25%. Michael has a valuation number in mind but wont disclose it. Daymond is out. Robert is out since he can't help with the retail part. When Daymond pushes Michael gives a valuation of $75,000 for 5% ($15 million total). Lori reduces her offer to $90,000 for 15%. Mark is out because even the current sales don't support that valuation. Lori goes to $90,000 for 10%. Michael wants a bidding war for a 5% stake. Everyone tells Michael to talk to Lori. Lori offers $90,000 for 8%. Michael takes a deep breath and accepts.

    In an update from a previous episode, Barbara Lampugnale's product "NailPak" had achieved impressive sales of $750,000 in a short period. The product had gained a distribution agreement with Ulta cosmetics, leading to its availability in 500 stores and online.

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