"Geek to geek" — When Shark Tank's Mark Cuban signed a $75,000 deal with Cup-A-Bug

Shark Tank is renowned for its high-pressure pitching, and Cup-A-Bug founder Justin Huang's appearance in the tank during Season 15 was no exception. The sharks were immediately drawn to the entrepreneur's innovative bug-catching device, which was made to assist humans in capturing insects without causing harm to them. The business owner demonstrated the tool's functionality, highlighting its user-friendliness and attractiveness to customers who are concerned about insects.

Mark Cuban, one of the sharks, was highly impressed with the product and company's motive and quickly made an offer after recognizing Cup-A-Bug's potential. A $75,000 in exchange for a 20% equity was offered by the expert, which the owner happily accepted, saying:

"Geek to geek, Mark, join me in my entrepreneurial journey.”

Cuban's investment demonstrated his faith in the product's potential for success, particularly among environmentally sensitive consumers.

In addition to giving Cup-A-Bug the money boost it needed, his support connected the business owner with helpful mentors. The transaction was noteworthy, demonstrating that often, the most straightforward concepts can have the most effect on the tank.

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Cup-A-Bug founder Justin Huang signed a deal with Mark Cuban on Shark Tank Season 15 Episode 15

Back on February 23, 2024, Justin Huang, founder of Cup-A-Bug walked down the red carpet before the sharks to pitch his unique product. For his innovative device that catches a bug without killing it, he made an ask for $50,000 for 10% company shares.

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Justin Huang pitches Cup-A-Bug on Shark Tank

Justin Huang's pitch on Shark Tank didn't start on a smooth road. As he started, his pitch hit a rocky note when he got too nervous and fumbled; Lori Greiner offered him reassurance and asked him to take a breath and start again:

"That’s okay, start over."

As he regained his confidence, he explained the product and how it features a long arm and a tilt mechanism that allows users to trap bugs safely and relocate them without direct contact. He further demonstrated how Cup-A-Bug works: simply place the cup over the bug, pull the handle to close the lid, and then release the insect outside.

He also opened up about the Kickstarter campaign they launched, which helped them raise $28,883 from 800 pieces. He adds how in under the first three months, the initial production ran in June 2023 and sold 1,200 units, bringing around $48,000. Huang informed the Sharks that the Cup-A-Bug had a retail price of $40, manufacturing costs of $10, and shipping costs of $7.

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Mark Cuban shakes hands with Cup-A-Bug founder

Impressed by the numbers, Shark Tank's Mark Cuban decided to make his offer. Cuban first offered $50,000 for 20% equity; Daymond John challenged him and increased his offer to $60,000 for 30% equity.

Continuing his negotiation, Cuban raised his offer to $75,000 for 20% since he was adamant about working with Huang alone. Huang agreed, gaining a significant investment from one of the most powerful Sharks on the show.

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Watch more such deals on Shark Tank on ABC every Friday at 8:00 PM EST.