For a 4 equity stake in our company. [ chuckles ] sharks, lets face it. Getting around urban areas it sucks jampacked in a crowded Public Transportation or stuck in gridlock on your drive home, and just when you think youve beaten the system by riding a bike to work, you show up looking like a hot, sweaty mess. Our solution is the m1. The m1 is an electric skateboard that goes up to 20 miles an hour and has a range of 7 to 10 miles. Weve integrated headlights and taillights so youre safe when you ride at night. Our inwheel Motor Technology. [ motor whirs ]. Has no moving belts, no gears, and requires no maintenance. All this while looking and feeling like a real skateboard. At 14 pounds, you can easily carry the m1 into a crowded elevator, and i think we can all agree that parking is not gonna be a problem. Sharks, were on the verge of a transportation revolution. Riding the m1 can turn your commute into a fun, easy, and exciting experience, and all for less than the cost of Car Insurance. Now, which one of you sharks wants to get onboard with inboard . And more importantly, who wants to come up and try the m1 . Oleary i want to try that thing. Ill give it a shot. Kevin, here we go. All right. So its really easy to use. All right. The big thing is that youve got four contact points with the ground. Yeah. So, its really stable. Will it support kevins weight . [ laughter ] weve actually tested it up to 1,200 pounds very strong. This is the safety. So, you hold this to engage. Its just forward to go forward and back to go back. So, i cant move it unless im pushing this, right . Exactly. There we go. Herjavec you might want to hold kevins hand at the beginning. [ laughter ] yeah. Ryan there you go. And pull back to brake. Very cool. Yeah, and hes gone. See you later, kiddies. Ryan oh, there he goes. Sacca he shreds. [ cheers and applause ] oh, yeah, baby. Okay, i like it. I like it. Yeah. Its very cool. Looking very good, kevin. There you go. Thats cause im very hip. Thats it. Yeah. Im a skater dude. Im pretty sure theres other electric skateboards out there. Ryan yeah, thats correct. Why is yours unique . The fact that we created the first ever inwheel motor. Its actually one of the smallest hub motors ever created. The way we integrated the battery into the deck. But, really, the biggest difference between us and our competitors is the way that we designed our company. From inception, weve focused on scalability, highvolume manufacturing, and highvolume distribution. Cuban how much have you raised . To date, its been 2. 7 million. Greiner wow. What was the value of the company after your last round . We had a 10 million valuation after our last round. So, did you say it can go uphill . Yes. And going downhill, what happens . It actually it brakes, and it charges the battery while you brake. The greatest thing about the inwheel Motor Technology if you look at any of our competitors on the market, they all use an external motor that sits outside and then ultimately, a gear and a belt system that drives the motor. But, ryan, its a skateboard. Yes. Its a toy. Haley we would disagree with that. A lot of people see that as their vehicle. Really . Cuban but thats a niche market. Nobody is gonna commute to work with a skateboard that isnt commuting to work with a skateboard today. Man, sometimes, you sound really old. This is happening today at scale. Really . Yeah, maybe not in toronto because you have to dig out of snow half the year, but here in california, its happening at scale. I actually do see them as a vehicle or as a tool. Yeah, but when chris talks about scale, hes wrong. Just because you see individuals driving around on skateboards doesnt mean its scale. One of my companies is working on reinventing the selfbalancing hoverboards, right . Mmhmm. Theres challenges there, right . Absolutely. Theres laws in terms of riding on the sidewalks. Theres inclines. Theres bumps in the road. Youre absolutely right. And so, weve got some ip currently pending on some new form factors and designs thatll blow you away. I just want to know what does it cost . The retail price is 1,399. And what does it cost to make . We have have a direct margin of 65 . How many people can afford 1,400 . The selfbalancing boards, when they first came out, were 1,500 bucks, and they they sold hundreds of thousands. Ryan yeah. So, people want a better way. Wait, didnt you just tell me that im wrong about scale, that this isnt gonna scale . Its a whole different beast. The skateboard market is completely different than the hoverboard cause one is a lot easier to balance on. Its a lot easier to go forward and backwards. You dont hang out on youtube enough to see all the hoverboard fail videos, man. No, youre wrong there. Because not only have i seen all the youtube videos, ive read the patents, so i know whats going on. Theyre two different markets. One is to get around your neighborhood, have fun. They werent really definitive modes of transportation to go to work. I see that market. Right. For sure. So, thats why they sold more. This, in terms of being a way to get to work i dont think its big enough right now for you to say youre gonna change how people go to work. Haley when i lived in manhattan, i basically planned my life around traffic. The m1 its very easy to pick up and take in a subway, unlike a bike. If it starts to rain, i can call an uber, and i can put it right in the trunk. But can i go back to one thing . Have you sold any . Right . [ chuckling ] great question. So, we set up nine Global Distributors that are gonna carry our product. We have 5. 6 million in preorders with those distributors, which well be able to fulfill by the end of this year. And people that live in apartments oleary i think weve seen the merits of the product. We understand the risks. Im interested. So, im thinking about structuring an offer here. You need capital, so what about a deal like this . Ill drop the equity ask down to 2. 5 , and ill loan you the 750,000 at an 8 balloon payment in 36 months. Herjavec its the loan shark tank. Im taking 2. 5 equity as a kicker. Haley what id like to do is first explain the difference in valuation from the last round to now. Fair. You can do that. But no ones beaten you up on that yet. I was gonna do that work later. Right. Yeah, i figured that much, so im just gonna kind of preempt it. Thank you. Yeah. So, since the last round, weve derisked the company considerably. Um, we, uh. Like i said, we secured if you dont remember why its derisked, thats bad. [ laughter ] sometimes it gets a little that was a bad time to pause [ laughs ] we secured the largest contract manufacturer in the united states. We raised enough money to where we can get to be cashflow positive. We also are in talks with the largest bigbox retailer best buy. So, if its okay with you, mr. Wonderful, id like to hear from the rest of the panel. Sure. Herjavec i mean, i love i love toys. I mean, you name it if it goes fast, its risky, ill do it. For your value. Mmhmm. Which im not even gonna touch, i have to buy into the premise that this is a masstransportation product, and regardless of what chris sacca thinks, the wannabe millennial. Oleary hes a little old for that now, isnt he . Cuban yeah, he is. [ chuckles ] herjavec . Theres an element of skill that you have to have in order to use it that the average older person is gonna struggle with. That would not be me because i was able to master the device. Yeah, he was the king on it. I dont buy the premise of a masstransportation vehicle. Im out. Sacca this is a very crowded, competitive space. What im trying to do is invest in places that other people havent noticed yet, and all eyes are on this. And so, i might be a consumer, but in the end, im not gonna invest, so im out. Guys, like chris said, theres a lot of people just focusing on that market. I think its a stretch partially because we compete, but for those reasons, im out. Thanks, mark. I really appreciate your time. Thank you, mark. Herjavec all right, lori . She was just trying to do kevins deal math over here. [ laughter ] greiner i like it. I think its very cool. I love ingenuity. But great you have distributors. People think its cool, but people in that business always think new things are cool. Theyre waiting for the next new thing. They buy 50, 100, 300. They test it. It doesnt mean theyll come back for more. Look, im happy with my offer, but if she goes out, it wont be 2. 5 equity because its the nature of a shark, when theres no competitors, to make you pay a horrible price. You understand that. 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Dave, chris, and ryan have one offer on the table from kevin for their electric skateboard company, inboard. But kevin is threatening a worse offer if lori goes out. Am i competing with you or not . I would give you the 750,000 loan, 8 interest, 36 month, 3 equity. Is it possible we can discuss this as a team . Absolutely. Perfect. Awesome. Herjavec half a point difference between the two of you. Half a point. Otherwise, exact same offer. Who do we want more as a partner . Do we want mr. Wonderful, or do we want lori . Lori shes got the retail side, and that can be a huge help. What should we do . All right, lets do it. Lets do it. All right. All right . Yeah, you say it. Okay, im with you. As many others have learned in the shark tank, when you leave the tank, stuff happens. And stuff did happen on this deal. Lori and i decided to get together on it, and were gonna split it, but there is a cost because its your only offer. Were gonna give you the 750,000 for 36 months at 8 , but we want 5 equity cause we want 2. 5 each. You get a whole lot of support from both of us, but youre gonna have to pay a little bit more because you left the tank. Haley we want to do a deal thats gonna actually get by our investors. We have a couple of founders that have exited from billiondollar companies. You guys know how big the egos can be in those circles. So have we. We were gonna counter your offer 750,000, 8 loris original deal 3 , which we were gonna turn down, but now that we have two sharks, were gonna be willing to do it. So everybody understands. Yes. Yeah. Your counter is a 750,000 loan at 8 interest. Yeah. Paid off after 36 months. Right. And in exchange for that, you will give them 3 equity between the two of them. Yeah, 1. 5 each. Thats correct. Thats correct. 1. 5 . What do you say, kevin, lori . Unfortunately, ive discussed this with my partner, lori. We have no flexibility. The best deals are ones where you squirm a little bit. I want to see you squirm. The squirmings gonna be when i go back to my investors and put that deal in front of them. Theres no way i can go above 3 equity with a loan. How about this we would be willing to pay more interest. What about 11 . Certainly not 11 . Thats more. [ laughter ] but i would i would do the well, whats whats your counter that is more. Whats your counter on the equity if i paid you 9 . All right, well do it at 9 at 4 equity. So, 750,000 loan at 9 , which is nothing. At least lets just say were shareholders, but, really, its a tip. Well do that deal. You should take it. How about this . Ill do 10 interest. I need i cannot go above the 3 equity. 10 interest, 3 equity. Why can you not go above the 3 . cause i just know what our investors have put in as bounds as what theyre willing to accept, and the fact that this is a loan you were offering 4 when you walked in here. Chris, when you walked in here. Yes. You offered 4 for 750,000 straight equity. I dont think its unreasonable to stay at the 4 , give you the 750,000 at 9 . You walk out of here with a deal. You know you can give us 4 cause you asked for that in the beginning. You know, i thought ryan was the best salesman i ever met in my life. I think youre just as good. You both have a deal. [ all cheering ] [ laughs ] congratulations, guys. Yeah. Lori. I bet you didnt expect me. [ laughs ] congrats. Thank you so much. I really appreciate it. Uhhuh. Ready . Yeah. Yeah. Here we go. [ all cheering ] the last two years, weve been building a rocket ship at inboard. Today we put a button a Big Red Button in front of lori and kevin, and they hit it. And we cant wait to ride this thing to the moon. Yeah, they did. Hit that button, son narrator in season 7, motheranddaughter team Gloria Hoffman and linda clark made a deal with lori greiner for their exercise device, the simply fit board. I make millionaires this way. Im gonna offer you 125,000 at 20 . Lori, we would love to accept your offer. Narrator lets see what theyre up to now. Hoffman before shark tank, we had done 575,000 in sales. 24 hours after being on shark tank, we did 1. 25 million in sales. Clark the very next day after shark tank, we went on to qvc, and we sold out of boards in just six minutes. Lori had the idea to produce a simply fit board infomercial. We expanded across the u. S. , and now were in japan, europe, all around the world. Now just seven months later, we are up to 9 million, and its still climbing. [ gasps ] oh, my gosh greiner walmarts a big deal because they have a lot of stores, and were in every single one of them. When something changes your life, its a crying moment. To see the effect on gloria, to see how much its changed her life, thats why i do what i do. Thats why im a shark. Im so thankful. Nobody deserves it better than you guys. Youve worked hard. You created something great. Youre great people. My belief what goes around comes around. Thinking about our journey [ voice breaking ] i get emotional every time. When youre a mom that wants to show your kids that anything is possible i mean, i was a struggling mom to them, and overnight, my whole life changed. Thats perfect. We are so thankful for oshark tank experience, and i think that mom and i are proof that a grandma and a stayathome mom can become an overnight success. It truly is the american dream. Feelit could be a signighed down . That your digestive system isnt working at its best. Taking metamucil everyday can help. Metamucil psyllium fiber gels to trap and remove the waste that weighs you down. It also helps lower cholesterol and slow sugar absorption to promote healthy blood sugar levels. So you can feel lighter and more energetic. Metamucil. Support your daily digestive health. Try new metamucil fiber gummies made with a prebiotic plant based fiber blend that helps promote digestive health. The 1966 etype roadster. 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As a barber, nothings especially for guys who tend to get razor bumps with ordinary razors. But now theres gillette skinguard. It flattens the skin and lifts the blades for a shave thats close, but not too close for comfort. M from brooklyn, new york. I grew up in new orleans, and my sisters and i were raised by a single mom. My mom did everything to support us. She took a job as a cafeteria lunch lady to make ends meet. From an early age, i was always excited by science and math. I was the first person in my family to go to college. I went to mit, where i got my degree in physics and also found my passion for entrepreneurship and organization. After college, i got a highpaying job helping fortune 500 companies with their manufacturing efforts. I traveled around the world, and i really got to see Food Production done at a massive scale. Here you go. I realized that the average consumer has no idea whats in their food and would be shocked if they knew how it was made. So, hows the business going . Webb its good. My moms gone through so much in her life. She made a lot of sacrifices for me to get to where i am, and i dont want to let her down. I gave up my job making over 250,000 a year. I can no longer help my family in the ways that i would like to. So, if i dont get a deal from the sharks, its gonna be hard for me to keep this going. Hi, sharks. My names renaldo webb. This is winston. And were from brooklyn, new york. Im the ceo and founder of petplate. And winston here hes our chief tasting officer. And together were seeking 100,000 in exchange for a 10 stake in our company. Petplate is the only Company Delivering freshly cooked food tailored for your pet directly to your door. Now, sharks, im sure youre familiar with the Health Issues plaguing americans everything from cancer, diabetes, high blood pressure, which is all due in some way to what we eat. And unfortunately, many of these issues are now finding their way into our pets from feeding them the scraps from our overly processed food supply chain. Over 60 of dogs and cats in america are overweight. Many more are suffering from serious issues such as diabetes and allergies. And one in two dogs in america will die from cancer. So, petplate is solving this issue by educating and empowering pet parents to have healthier and happier pets. So, who wants to see what actually goes into petplate . We do. Bring it on. So, we only use allnatural ingredients in petplate, no different than what youd buy at a Grocery Store to feed your own family. And today weve brought over the ingredients for our lamb and vegetables dish. It contains very lean lamb. Put that in there. Then we also have eggs. This is all of our protein source. We use potatoes and sweet potatoes. Then we also add in. [ laughter ] winston can smell it coming. Hes so hungry. Then we add in some peas and carrots. We have pumpkin. This is for fiber. It makes the morning walks great. And then finally, we have our healthy oils and vitamins. So, sharks, who wants to give winstons favorite dish a try . Im in. [ laughter ] mark. Im in. Yeah, mark will eat anything. As i said, this is our lamb and vegetables dish here. How about you, lori . Do you want to give it a little try, as well . Yeah, sure, ill share with chris. Awesome. Thank you. You wanna go first . [ laughs ] here you go. Thank you. Yeah, of course. Hi oh, man, thats a lucky dog. Herjavec mark will try it. Yeah, give it to mark. Hell eat anything. Perfect. I dont know. I dont know. Herjavec and whats it like . Its good. Buddy, can you sit . Down. Good boy good boy herjavec aww. Okay, go cuban yeah. Get it, winston. So, this is a Home Delivery service. Yes. For fresh, real food. Exactly. For pets. Exactly. So, you can imagine it as a plated, for example. Yeah. But its freshly cooked, so ready to go from box to bowl as soon as you get your delivery. Is it a Subscription Service . Do you sign up . So, right now you can sign up for a month, 3, 6, or 12. Our average subscription length is three months right now. Oleary whats the price . How much does it cost . Whats the pricing . So, we charge this by the pound. So, it varies by the price of your dog. If you have a small, little chihuahua, its gonna be around 30 30 bucks a month. And how many meals do i get per month . Greiner there goes the table. [ laughter ] so you get your full so you sign up on our website. You go in, and you put in the weight of your dog. And then it takes you to our mealplan options. You can try between getting the full petplate meal plan subscription so 14 meals a week. And then we space it out in terms of two deliveries a week for you. And how much is it per week . Webb depends on the size of the dog. Depends on the size of the dog. So, how many subscribers do you have . So we have just over 100 subscribers right now 105. 100 . Thats it . How long have you been in business . For about eight months now. Were actually just hitting the eightmonth mark. And its just in new york . Youre just doing locally . So, right now, we can ship to anywhere within a 300mile radius of new york city, but i am laserfocused on making this an urban type of service. Why dont you have more than 100 subscribers . Right now, i am a oneman show. In order to emulate the models that are out there with the big guys, theyve gone through this multiyear logistics problem of Building Centers in all the major areas so they can fulfill. So, how were different is its far simpler to cook for a dog. We have a set menu about six options. We can cook about 200 to 300 pounds of food in about three to four hours. Whats your background . I was born in new orleans. My mom was a cafeteria worker at the local public high school. I was passionate about science and mathematics. Cool. I then went to mit, where i graduated with a degree in physics there. Wow. I realized i wasnt the savant that was gonna discover gravitational waves, even though i really wanted to. But i found my passion for organization and entrepreneurship. I traveled all around the world helping fortune 500 companies with their supplychain manufacturing, like, on the factory floor. And thats where i got the bulk of my petfood experience watching this food get made, seeing the ingredients go in, and seeing why the health of american pets is honestly, its dismal. You know, i really wanted to change that. Wow, renaldo, youre one impressive guy. Greiner yeah, very impressive. Thank you. Thank you. But im curious. So, you quit your job then. Yes. And youre running this full time by yourself . Exactly. But the delivery couriers we use theyre being paid in full. Were still losing a little bit of money on the perdelivery cost and the logistics. How much did you raise, renaldo . I didnt raise any money. Good for you. You used all your own money . I put in about 80,000 of my own money. Good for you. Wow. Oleary my big issue with this deal is knowing that the challenges we had with plated to get scale, youre gonna need a ton of money. No, no, were not. Why not . Were already delivering and doing over 150 deliveries with one courier. Wheres the Tipping Point . How do you get to. Big . So, when we hit 500 dogs, this is a halfamilliondollar business. Why dont i, in a commercial kitchen, create the best pet food, premium product, but not make it completely fresh . Why deliver it to people . If it kind of came down to it, and i realized, you know what . I need to put natural preservatives in this to win, thats what i would do. See, renaldo, for me, like, i see you as a real hero. My concern is i see this as a challenging business because of obstacles that have to do more with how many people will care enough to invest in the fresh, homecooked meals. Roberts point of pivoting, possibly, and creating something thats easier to sustain seems to make sense to me, but it doesnt fit your mission. I wish you the best, but im out. Thank you. I appreciate it. I appreciate all the feedback on that, lori. Im not sure that the market is there. If there was a cause in a Small Community thats deeply passionate about their dogs, it would have spread to more than 100 users after eight months. Im sorry. I admire what youre doing, but i dont see the business right now. Im out. Thank you. I appreciate that. And, chris, i notice you havent asked a question. I would love to be able to convince you why i believe theres a market for this. Im deeply conflicted on this deal, man. I hear about your background, and i think to have attained that is incredibly impressive. To go as a black kid from new orleans to mit and to have all that Educational Achievement is incredible. Youre like the dream partner i would love to work with or back in any of our companies. Problem is you chose the one that were competing with you in from uberrush, right . Were pushing couriers all over the world right now, and were moving food all over the world right now. So, for me, its harder to get superexcited about funding a guy whos gonna knock right headon into one of our businesses. If this thing doesnt pan out, please get in touch immediately, cause i know wed be a great force, but i cant do this deal. Im out. Thank you, chris. I appreciate that. Renaldo, i think youre amazing, right . Your accomplishments speak for themselves. The thing about the pet business, whether its food or otherwise, is that its an allin business. Youve got to eat, sleep, and drink pets 247. But im not a 24by7 pet guy. And you need that infrastructure and support around you from people who have that same mindset. Im out. Thank you. Im living this right now with plated, and theyre doing quite well, but theyve learned the hard way how difficult it is to scale. Our Biggest Issue remains to be competition for customers, and we are delivering, and were having sustained customers. Im sorry. Im not gonna take the journey with you. Im out. Thank you. Congratulations, man. Youre gonna crush it. Good luck. Thank you for the time. Im feeling a lot of frustration just because im tired of hearing no. [ voice breaking ] but it doesnt matter how hard i have to work. So. Yeah. Very frustrated, but, you know, it was never gonna be easy, and i know that. And it never has been, so. Our own hopes and dreams. Well pass many milestones. Moments that define you. And drive you. To achieve even more. So, celebrate every one. Because success isnt just about where you want to get to. 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Stand by. Lets go go go narrator next up is a new generation of products designed to optimize physical and mental function. Hey, sharks. My name is geoffrey woo. My name is michael brandt. Were from san francisco, california. Our company is nootrobox, and were seeking 2 million in exchange for a 5 stake in our company. Oh hello [ laughter ] so nootrobox isnt any ordinary company. Were a team of biohackers, researchers, and technologists. And we develop, manufacture, and sell nootropics. Nootropics are a rapidly growing market of brainenhancing consumables and supplements. Were from Silicon Valley, where some of the most creative and ambitious people in the entire world are. And these people are constantly trying to eke more productivity out of each and every day. Biohacking is all about the experimentation and controlling of inputs into the human body as if our bodies are a complex but still understandable computer system. Weve looked at something that hundreds of millions of americans put into their body on a daily basis a classic cup of coffee. Weve looked at ways to reengineer coffee for something thats significantly better for performance. And its called go cubes chewable coffee its convenient and portable. You can put it right in your pocket, and unlike any ordinary cup of joe, its precisely dosed with caffeine and other nootropics so you get the kick of coffee, but its much more balanced and steady. The future of coffee is here, and we want you sharks to take a bite out of it. Herjavec can we try it . Yeah. So, geoff, just want to be clear, it was 2 million for 5 . Correct. And to be clear, you named it after me cubes, right . [ chuckles ] of course. [ laughs ] thank you. Sure. Do you mind if you tell us more about whats in them before we eat them . Its i dont want to get roofied. [ laughs ] so, you have three different flavors of go cubes. From lightest to darkest, you have latte, drip coffee, and mocha. Each cube has 50 milligrams of caffeine. Its a half a cup of coffee. How much sugar . Six grams of sugar per cube. Oh, wow. Its really good. And one thing thats really great about go cubes is because its exactly that 50 milligrams of caffeine, you know exactly what youre getting. But this is not the first supplementtype item that has a defined amount of caffeine in it. So, our background is biohackers, right . But first first, lots of people call themselves biohackers. Two years ago, it was just someone who was trying to come up with a better formulation. Yeah, but i think so, lets just talk in terms of what youre actually doing. Yeah, so, i think in terms of actually speaking about the community a community of what . Of people that are biohacking with us. So, for instance, we fast. We do intermittent fasting on a weekly basis, where for 36 hours straight, we consume zero calories. Just water. Why is that good . So, actually, caloric restriction is actually one of the most compelling ways to increase longevity. So, youre looking at nutrition. Youre looking at activity. Youre looking at sleep. Youre looking at all these Different Things and how they impact the body. Yeah. So, there is a space here, but why okay, but why is this why is this cube worth 40 million . We started the business in 2014. We did 55,000 in sales. And weve done, yeartodate, almost 1 million revenue. And were getting 17 monthovermonth revenue growth. Are you guys scientists . Are you guys engineers . Were computer scientists. Both of you are computer scientists . We have four md phds on our team. Okay. Greiner lets go back to the basics. What is this product . Yeah, yeah. Basically, from a performance why is this special . So, theres amino acid found in green tea called ltheanine. So, caffeine and ltheanine together so, theres actually a bunch of trials showing the effects of that active combination ingredient versus caffeine alone versus placebo. So, simple reaction time reduces 50 more in terms of so a baseline of 330 milliseconds okay, so this is okay so, what what what a better absorption . Better methods . A simple reaction time increased semantic memories. Hey, robert. You just ate one of these. Can you remember where we are in this pitch . [ laughs ] sorry. What did you say . Hey, youve got an opportunity to tell this story to 8 million to 10 million americans right now on a recurring basis, the most valuable prime time airtime in the world right now, and youre blowing it. Tell this story. Well said, chris. Look, theres things out there that are better for your cognition than just your ordinary cup of coffee. Were at the forefront of doing research and actually figuring out what these things are and telling the story about it. Oleary guys, ive made a lot of money as an investor obeying the laws of gravity. And i think you guys are flying very close to the sun. Your valuation is the highest ive ever seen on the carpet. Im not saying you cant pull it off, but it wont be with my money. Im out. Thanks. Geoff, this is the highest valuation weve ever had on shark tank. For sugar cubes. Weve never had any company for 40 million. At what point does the Company Become worth that . Like when you go to invest in apple, youre not investing in apple because of their current product lineup. [ laughs ] let him go. Let him go. Let him go. Brandt youre investing in apple because of their approach to technology. [ laughs ]. Their ability to do r d, to productize, and to bring it to market. [ all talking indistinctly ] but thats what were asking you. You came in and you gave us sugar cubes. Weve asked you that like 20 times. 2 billion cups of coffee are drank every day. People like coffee. Thats everyones goto nootropic. Thats a different market, though, michael. Its a different market. Its not really different cause thats what people have for performance. Why are people mixing powders off the internet . Michael, i accept the fact that you guys are really smart. But theres a responsibility that you have when youre presenting at a 40 million value. If you cant justify that today, im not really listening to you anymore cause i cant get over that single thought. I dont care how smart you are. I dont care what your background is. I dont think you did a good job of explaining that to me. Im out. All right, thanks. I mean, look, im not offended at all by your price. And i can see how you can get to your type of price based on your sales and trajectory. That said, it scares the hell out of me. Ive tried nootropics. Thats what people use to go on 48hour coding binges. But at the end of the day, youre left with a headache, lack of recall sometimes. Im worried about the longterm consequences, and so im out. All of our ingredients are generally regarded as safe. Generally regarded is not the same as safe. I think that youre much more into the scientist brain and not realizing that some of us up here werent understanding what it was you were trying to sell to us. I feel it would be helpful to you if you got somebody who was more salesoriented that would be able to communicate for you, when you need it, about what your vision is in going down the sales path. I am out. Im not investing today. But i wish you good luck. Appreciate it. Part of the problem in Silicon Valley is that the valuations are priced to perfection because thats their approach. And if you were to come in here priced with uncertainty, okay, then we might have been able to make the deal, but you priced it in a Silicon Valley way, and so im out. Cool. All right. Thanks so much. Thanks, you guys. Good luck, you guys. Cool. Thank you. Good luck, guys. Woo biohacking is meant to spawn multibilliondollar companies, right . So, 40 million valuation you know, its gonna be cheap in the long run. It just scares the hell out of me as an investor, and it scares the hell out of me as a human being cause i dont think we know the longterm consequences of this stuff. Ill tell you what scares the hell out of me 40 million for sugar. brad apartmentsdotcom makes easier than ever. W home brad apartmentsdotcom. The most popular place to find a place. har betsy twelquarter mile of tinsel. Lights. harold and real snow all the way from switzerland. betsy hmmhm. Gonna be tough to top. betsy well played. vo add some thrill to your wish list. At the season of audi sales event. Get exceptional offers now. Now, theres skyrizi. I have moderate to severe plaque psoriasis. 3 out of 4 people achieved. 90 clearer skin at 4 months. After just 2 doses. Skyrizi may increase your risk of infections. And lower your ability to fight them. Before treatment your doctor should check you for infections and tuberculosis. 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Now thats simple, easy, awesome. Transfer your service in minutes, making moving with xfinity a breeze. Visit xfinity. Com moving today. That makes gourmet cooking a breeze. Hello, sharks. My name is lisa, and this is my husband, abe. Were the founders of nomiku, and we hail from san francisco. Were seeking 250,000 in exchange for 5 of our business. The top chefs of the world have a secret tool. Sous vide is a method of cooking where you take vacuumsealed food and put it in a precise, lowtemperature water bath. Its a top chefs secret weapon because it allows you to craft delicious, perfect dishes conveniently and consistently. When i worked at toptier threemichelin star restaurants, i lusted after these machines, but they were thousands of dollars. Luckily, i met him at the gym. [ herjavec chuckles ] thats where you pick up plasma physicists. [ laughter ] and he made an athome version just for me. It changed our lives. And now were changing the lives of home cooks everywhere with the first ever home sous vide immersion circulator. Take any pot and fill it with water, then you clip nomiku to the side of the pot. You put your ingredients and seasonings into a zipseal plastic bag. Put the bag in the water and walk away. Our app controls the time and the temperature so that you come back to a perfectly cooked meal. With a little bit of tv magic. [ laughter ]. We have some steaks that have been cooked already with a nomiku. Because were cooking at a low temperature, it doesnt have that delicious crust around it. Were gonna finish that right now. How long does does it take to cook . Two hours. But you dont have to babysit it. You can just put the bag in and walk away. So, lisa, were sharks. Are we gonna get to try some . Absolutely. So, we start with a perfectly cooked shrimp cocktail. And then we have that perfectly cooked steak. And we have a chocolatecoconut custard. Lisa, what did you used to do . cause youre a natural at this. [ laughs ] thank you. I worked in the restaurant industry. And im the face of the company, so i give a lot of talks. Cuban appreciate it. Thank you. And now, folks, this is a meal that we made for you with vodka thats been nomikued with rhubarb, strawberry, and limes. Herjavec thank you cheers. Thank you so much, scott. This steak is fantastic. [ chuckles ] at some point, you were discussing the value of this business 5 million, right . Yes. You must have sales. We do, kevin. All right. So, weve sold them since 2012. We have. We have 3 million in sales. Wow. So, how and where have you been selling it . We sold them direct from our website and from online retailers. And we just got a p. O. From williamssonoma. Herjavec im not a big chef. Why would i do this instead of making it on a stove or on a barbecue . Whats the benefit of this whole process . Its onebutton cooking. Its like a its like a slow cooker, a crock pot. Its a setitandforgetit. I cook, as well. I like to do burgundian dishes. What is that . Whats a burgundian dish . Burgundian, for example calves liver. You do not want to overcook it. Do you do that with all organs of your kills . Could you tell us what it costs . Yes, it costs 199. How much have you raised . So we in 2012, we had a seed round of 875k. And then last year, we did a note of 2 million. Ooh. 2 million . Yes. Cuban last year . So what was the valuation of the seed round . The seed round is 6 million. And then was there a warrant on the note . The note is a 10 cap. The notes a convert . Correct. Its straight convert. Right. Hmm. Cuban guys, i think its a great product, but i just dont see the momentum that i think you should have. I dont really understand the competitive threats since i dont know the industry. So, im out. So grateful for your time, mark. Thank you. I have had sous vide before. I think its interesting, but i do think that a lot of people just like to throw steak on the grill, and they dont want to do a secondary step to char their meat or get it crispy. Im not going to invest. I wish you the best. Im out. Thank you very much, lori. Let me just clear the deck. Sous vide moo vide i pbht. Its all french to me. It is french. [ chuckles ] aha. The idea of planning my meal like that is just is just foreign. And i like to invest in stuff that i have a taste for. Its just not a market for me. Im out. Thank you. Abe thank you. I mean, its funny. It doesnt matter what its called. It just tastes delicious. And i just want to know how did you get to the valuation youre asking for here . We expect to have 5 million in revenue in the next 12 months, and our valuation is consistent with other companies with that sort of revenue projection. Basically, youre not gonna make much money, even after 5 million. But are you coming in under the cap of the last round . Thats. We know that if we bring a shark on, you guys are gonna be very hardcore. You see the value of having a shark on the team. Thats right. We do. Well, you have two sharks left kevin and chris. Lets see, lisa, if you can get a deal from one or both of them. I would love both because one shark is like a volcano. Two sharks is like a lightning striking that volcano. Sharknado. [ laughter ] Sharknado Sharknado i have two constituencies that i think this would appeal to. One are the customers of plated, of which im an inventor. Theyll be supportive of a shark deal, obviously. And the other are my quarter of a Million People who have bought my wines. Theyre all foodies. I make the suggestions. They believe me because im really good at it, and i have the palate. Ill do this deal 250,000. I want 10 . We really respect that offer. Thank you. It comes from the heart. Well, wed love to hear what chris has to say. I would, too. Chris . Thats 10 of your company. Correct. Are you gonna take a board seat over there . I dont need a board seat. I need 10 . Are you gonna cooffice with them . My bottom line is this is a lot of risk, and you know it, too. Im very curious, though, about this equity. Lets talk about how those notes work. So you had 2 million worth of investment come in on a document that says, were investing as if the price were 10 million. But later on, the price is 5 million, and they convert into the company. Subject to that 10 million cap, it comes all the way down at a big discount now. Those investors are gonna own most of your company. You guys, as the founders, arent gonna own anything. Just to be clear, if you do a deal at 5 million, how much of the company do you end up owning . How much do the investors end up owning . Right now we own 51 . Well, youre not after this. The biggest allure to this deal is you, lisa. I think youre the package right here. Thank you. I love your presence. I love how well youve handled these questions. Youre an amazing entrepreneurial force. As we talk about the terms of this deal, though, i really get worried when i see a deal that leaves you not owning much of the company at all. How do you help me get past that . Sure. Were here with that deal to make it appetizing for you. Thats why im up here. Are you throwing my deal under the bus . I get that, but i dont want to work with people who dont have a ton of upside left in their own company. Theyre not happy. Wed love to give you adviser shares. Lisa, im gonna make it easier for you. Chris sacca, give us a deal. Im out. The 1966 etype roadster. My father spent 3 years restoring this car. It is his love. It is his passion it is his fault he didnt lock the garage. Dont even think about it uhhh. Hi, dad been there, done that. With liftmaster® powered by myq®, know whats happening in your garage from anywhere. Chickachickahh chuckles kids. Easier than ever. Apartmentsdotcom makes getting into a new home brad apartmentsdotcom. 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Chris sacca is interested in abe and lisas sous vide machine, nomiku, but is concerned that his investment would result in them diluting their equity so much they would no longer have skin in the game. The best deals are the deals where we are all superexcited to get out of bed every morning because were all gonna make a lot of money. Were all gonna have positive impact. So, if we go and do this deal, you guys would be diluted to the teens. And so at the end of this round, how much of the company would you guys like to own . See, i think a couple owning 10 of the company doesnt get it done. Okay, what do you. . What do you think . Its the craziest deal ive ever seen. I greiner it is. I dont want you guys to shoot yourselves in the foot. We wont. If this is your lifes work, and this is your passion, you should be fighting as hard as you can to not give it away. Were listening to you. Were listening to you. Because this takes off with us together. Heres my offer. Im gonna give you 250k. For 10 of the company. Contingent upon you going back to your other investors and making sure you get enough stock back from them that you own 40 of the company at the end of the deal. I get 10 , you get 40 , they get 50 . Would you would you be open to a counter of 8 . [ laughs ] oh, my gosh really . after all that all that work he did for you and looked out for you, youre gonna rake him over for 2 . Im doing what he told me to do. I dont think youre pausing to think about it. I think youre just reflexively trying to squeeze a couple more points out of me. So, pausing to think about it dont negotiate for the sake of negotiating. Lisa okay. Okay. That deals not possible without taking down your other investors about 15 . They know that. But they get to negotiate with them. Those investors are all grownups who got into a Risky Company earlier on. Do we have a deal . Were gonna take it. All right lets do it thank you. Congratulations. Cheers. Right on, man. Thank you. Hey, congrats. This is cool. Yeah, thank you so much. Thank you, guys. All right, guys. Greiner bye. Oh, theyre skipping herjavec oh, theyre skipping down lisa wow, chris sacca is the freaking bomb. Were gonna get such a fighter on our side. He really he really loves us and looked out for us. That was amazing. They obviously undervalued themselves around the first and second round. No, i look, chris, i think its a great deal for you. I really, really do. The earlier investors took a risk. They knew they were taking a risk. Things didnt play out for them exactly like they wanted. Its not the first down so, i dont feel bad taking it out of their hides. Its not the firstdown round. Its not the lastdown round. Thats true. Thatll ever happen. And tonight, rohan oza, the branding guru behind some of the worlds most successful consumer products, joins the tank. I always look for stuff that is breaking the mold of whats out there today. So we are a little more expensive. Im gonna go out it drives me bonkers. You want a participation trophy. What we have here is not yet a business. I have put my blood, sweat, and tears into this. I love these guys oza id like to give you an offer, but you may not like it. Narrator first into the tank is a product to help you survive the most crucial hours of an emergency