Last into the tank is Sharmi Albrechtsen of SmartGurlz, seeking $200,000 for five percent equity.
SmartGurlz makes learning how to code simple and fun. Their system teaches girls how to code using self-balancing robots and dolls, which connect to their SugarCoded app with a phone or tablet. According to their website, the technology “inspires the women creators and leaders of tomorrow, by teaching them how to code, today!” Current characters include technology wizard and hacker Zara, teen mechanic Jen, chemistry aficionado Jun, math genius Maria and quirky artist Emma. The dolls, which are paired with the Siggy robot, cost $79.99.
In less than six months, they have done $250,000 in sales based on distributors and direct sales. There is a provisional patent on the product. Daymond John likes the product and its potential applications and offers $200,000 for 30 percent with a licensing direction. Robert Herjavec thinks declining doll sales would make it too tough of an investment and goes out, followed by Lori Greiner and guest shark Richard Branson.
Mark Cuban likes the company, but worries about the retail aspect. He goes out. Ultimately, Albrechtsen counters John at 20 percent, which he declines. She again counters at 25 percent, which he ultimately 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.
Would you try out SmartGurlz? Sound off in the comments section below!
Source: Business 2 Community