"I can solve two real problems you have"- When Shark Tank's Barbara offered $500k to 'Bootaybag'

Bootaybag founder Elly Gheno was featured in Season 12 of Shark Tank US. She developed a subscription-based intimate wear brand that is available in the comfort of the home. Elly wanted to make intimate wear shopping hassle-free and less expensive, so she created the Bootaybag brand.

Elly Gheno asked for $500k for 5% of her company's equity. She presented the samples to the sharks to get a better view of the quality and material of the product used. The sharks liked the product and the idea of its conception. Regarding the numbers, the sales profile looked good to the sharks.

However, Elly had trouble reducing the lead time, and the sharks were on board to help her. Kevin O'Leary showed concern over the low profit margin and advised Elly to clear out her inventory. Guest shark Kendra Scott was super impressed by Elly and extended an offer of $500k for 20% of the equity. Barbara Corcoran seemed excited to extend an offer and said:

"I could solve the two real problems you have. You don't get any money out of this business and that's the problem. That's what business is for. I have a business that's been in business five years grace and lace they sell like gangbusters."

She further added:

"I'm only a 20% partner and last month I got a 700 000 checque. They're so cash rich and they're in the exact same business you're in. The other problem is you don't know how to manufacture in Asia."

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What happened with Bootaybag in Shark Tank Season 12?

Bootaybag founder Elly Gheno already got an offer from Shark Tank investor Kendra Scott; Barbara Corcoran came in with a $500k offer for 20% of the equity in her company. Kevin O'Leary jumped in, too, with his competitive spirit and offered $500k for 15% of the equity, while Kendra and Barbara deliberated joining hands for 20% of the equity for the same amount.

Mark Cuban and Lori Greiner remarked that Elly had already received suitable offers from three sharks and had opted out of the deal. However, Elly wanted to go in for negotiation as she was unwilling to dilute 20% of the equity for $500k. She counteroffered Shark Tank investors Kendra and Barbara and asked for $700k for 20% of the equity, but both sharks denied it.

While Elly contemplated the offers, Kendra Scott ditched Barbara and went solo with her original offer. Elly Gheno promptly accepted Kendra's offer and locked the deal.

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Shark Tank US airs on ABC Network.