Next up are Charlie Williams and Brad Boskovic of DigiWrap, seeking $150,000 for 10 percent equity.
DigiWrap offers customizable, digitally-printed tissue paper wrap, perfect for any occasion! Some of their current holiday patterns include Christmas Sweater, Christmas Characters and Hipster Santa. Other offerings include Birthday Princess, Wedding Mason Jar and Mother’s Day quilt. For personal use, customers need only 1-100 sheets, however, if a business orders customized tissue paper wrap, a minimum of 100 sheets must be purchased. Most options cost $2.60 per sheet. According to Heavy, “They have printed for brands like Google, Yahoo, LinkedIn, Team USA Soccer, Disney, Detroit Pistons, Tampa Bay Buccaneers, Miami Heat, Audi and BMW.”
They are a more small-scale business and claim to be the only business to do customizable digitally-printed tissue paper. They are on track to do $500,000 in sales this year. Robert Herjavec and Mark Cuban don’t see it as investable and both go out.
Barbara Corcoran doesn’t think there’s enough of a market and goes out as well, followed by Lori Greiner. Kevin O’Leary acknowledges that it’s a “unique niche” and offers $150,000 for 50 percent, which they counter 20 percent. He changes his offer to 40 percent, which he calls “a discount.” He then drops to 35 percent, which they then counter at $150,000 15 percent equity, but with royalty added on until his money is repaid. He counters 20 percent equity with perpetuity. Ultimately, his final offer is $150,000 for 20 percent equity for a five percent per tissue and 10 percent per bag royalty until $450,000 is repaid. They accept.
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six 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. Venture capitalist Chris Sacca is also slated to appear as a guest shark 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 $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.
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Source: Business 2 Community