First into the tank is Alice Rossiter of Alice’s Table, seeking $250,000 for 6.25 percent equity.
Alice’s Table puts a fresh spin on female empowerment. According to their website, the flower design-focused business “brings women together to learn new skills, and live a social and creative lifestyle. Our goal is to be the bright spot in the modern busy woman’s life – the thing she looks forward to at home and on the town.” Public and private events are hosted nationwide that teach women “the art of flower arranging,” in addition to gatherings focused on bridal parties and DIY wedding flowers.
The sharks give the flower arranging class a try and guest shark Sara Blakely finds it very “therapeutic.” Rossiter hopes to branch out into the event management space. They currently have 53 executives.
Blakely thinks the model is “intense” given that new people have to constantly be found to lead the events. Kevin O’Leary finds the valuation “insane” but likes Rossiter. He offers $250,000 for 25 percent. Daymond John likes the empowerment aspect but has concerns about the valuation as well. He goes out.
Mark Cuban then jumps in with an offer of $250,000 for 10 percent with the option to buy an additional 10 percent later. He partners with Blakely for the offer, which Rossiter 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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Author: Erica Abbott