"I am gonna change my offer"- When Shark Tank's Mark Cuban snatched 'Simply Good Jars' deal from Kevin

Shark Tank US featured Simply Good Jars founded by Jared Cannon in Season 12, episode 16 of the show. Jared Cannon built a healthy meal brand, and being a chef himself, his best meal was a salad in a recyclable jar. Jared asked for $500k for a 7% stake in his company Simply Good Jars.

Guaranteeing that the taste of salads offered by the brand would "knock sharks' socks off," Jared explained that the ingredients used were fresh and nutritious. Adding some extra value to the brand, the jars of the salads were returnable and their recycling helped the environment as well as paying for a meal of a needful. The sharks were impressed by Jared's pitch and the product looked promising.

Shark Tank investors loved the taste and convenience of eating the salad straight from the jar. The sharks were also intrigued by how Jared pivoted the product to retail after the business was hit by COVID-19, just like other businesses. Considering the sales number, and other aspects, Kevin showed interest in offering a deal.

However, he offered a $500k loan at 9.5% interest and asked for 7% equity to save Jared from diluting more from his company. Lori showed interest and mentioned that she would like to join Kevin in the deal. Mark, who was sitting silent for a while, offered a deal too as same of Kevin but at 3% interest. However, Kevin and Lori's goals seemed aligned as both wanted to focus on increasing sales.

Mark pushed Kevin out of the deal, revised his offer, and said:

"I'll change my offer. I'm not gonna do it as a loan. I'm gonna do it as equity. I'll offer you five hundred thousand dollars for seven percent."

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Shark Tank investor Mark Cuban joins with Lori Greiner to offer a deal to Simply Good Jars.

While Shark Tank's Kevin O'Leary was the first shark to offer Jared Cannon a deal, he was smartly pushed aside by Mark Cuban as he joined hands with Lori Greiner. Earlier, Lori was willing to tag along with Kevin in the offer, but seeing that they had different perspectives to take the brand forward, she was inclined toward Mark's offers.

When Mark revised his offer and agreed to give the exact deal asked by Jared Cannon, Lori asked Cuban whether he wanted her in or not. While Jared was glad to go for Mark's equity offer as opposed to Kevin's interest offer, he asked both Lori and Mark to do the deal together. Lori agreed, offering a counteroffer of $500k for 10% of the equity, and both the sharks joined the brand.

While Jared was pushing for a little more negotiation, he was lured by the fact that he was getting two sharks and said yes to Mark and Lori's offer.

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Shark Tank US is available on ABC Network to watch.