First into the tank is Alan Cook of Brilliant Pad, seeking $500,000 for five percent equity.
Brilliant Pad offers a mess-free solution for smaller dogs who go to the bathroom indoors. The self-cleaning puppy pad and dog potty takes both liquids and solids and seals the waste away in a container. A fresh pad is then released. According to their website, each roll contains 27 sheets, which allow for clean disposal. The Brilliant Pad costs $159.99, while the roll starts at $19.99. Cleaners and transition pads for dogs less than 25 pounds are also available.
Kevin O’Leary worries that it would get extremely stinky after a month, but he is convinced otherwise after sniffing one first-hand. They just started production after running an Indiegogo campaign.
O’Leary acknowledges that people love their pets and offers $500,000 as a loan at 11 percent interest for 10 percent equity. Barbara Corcoran thinks it’s too high risk and goes out, followed by guest shark Alex Rodriguez and Mark Cuban. Lori Greiner then jumps in with an offer of $500,000 for eight percent with a $5 royalty until the investment is repaid. She then changes her offer to $500,000 for five percent with the $5 royalty. He counters $2.50 per unit and a line of credit, which Greiner accepts.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.
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Source: Business 2 Community