First into the tank are Nikita Salmon and Chas Smith of Sap!, seeking $600,000 for 12 percent equity.
Sap! is a new kind of beverage made from tree sap. According to their website, the “plant-based superfood sparkling beverages [are] made from 100% pure maple and birch sap straight from the forests of Vermont.” Flavors include birch sparkling, maple soda and maple seltzer. A 24-pack of maple water costs $38.99 and the beverages are available in a plethora of stores in the Northeast and online.
The sharks like the flavors, but Robert Herjavec and Mark Cuban don’t like the taste of the birch sparkling. They have done $400,000 in sales to date.
Cuban likes the health aspect, but finds their marketing problematic. He goes out, followed by Barbara Corcoran. Lori Greiner likes the products but goes out. Herjavec then decides to offer $600,000 for 30 percent. Guest shark Rohan Oza struggles with the “why” and goes out. The duo counters Herjavec at 20 percent, which he declines. He goes out, leaving them without a deal.
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