Last into the tank is Jenni-Lyn Williams of Snarky Tea, seeking $150,000 for 25 percent equity.
Snarky Tea offers a sassy, attitude-filled tea-drinking experience. Their line of bold and sarcastically-named teas, including “Fierce B—h” and “Wake the F–k Up,” help provide various benefits. According to their website, the “blends were meticulously created to match their names, deliver on their promise AND taste amazing.” The benefits of the tea, which have different levels of caffeine, include stress relief, energy, weight management and more. Individually, the teas cost $12.99, while a pack costs $69.99.
Kevin O’Leary worries that it’s for women-only, but she assures him that it’s intentional. The teas are currently sold online and in boutiques and, in less than a year, they have done $190,000 in sales. Lori Greiner worries that the labeling isn’t sustainable so goes out.
Robert Herjavec thinks it’s a bit too “edgy” and niche and goes out, followed by Mark Cuban, who thinks Amazon will crush the business. O’Leary decides to offer $150,000 for 50 percent, which guest shark Bethenny Frankel matches. She questions whether they would partner, which they agree to. She counters at 42 percent and again 49 percent, which they decline. Ultimately, she accepts their original offer.
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