"I got to get this deal"- Shark Tank's Robert Herjavec opens up about his investment in "THEMAGIC5"

Shark Tank investor Robert Herjavec has been judging and advising budding entrepreneurs on the show since its first season which premiered in 2009. Herjavec has been one of the main sharks on the show and believes in creating opportunities for others. He is intrigued by those founders and entrepreneurs who are willing to work hard and risk their possibilities.

When Robert Herjavec sees a deal qualifying all those parameters, he seals it. During Shark Tank Season 13, Episode 4, Herjavec was impressed by the custom-made swimming goggles of THEMAGIC5. Being an avid swimmer himself, Herjavec could not let the deal slip out of his hand to any other shark.

Rasmus Barfred and Bo Haaber, the co-founders asked for $500k for a 2.5% stake in their company. All the sharks were quick to place their bid, and initially, Robert and Lori Greiner were collaborating to offer $500k for 6% equity. However, when Herjavec saw the commotion around the deal, he jumped on to grab it. He told the founders:

"Guys I got to get this deal. I'm going to change my offer I'll give you 1 million for 6.5%. It's a crazy offer for me right now."

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Shark Tank judge Robert Herjavec invests $1 million on THEMAGICS5

Shark Tank investor Robert Herjavec grabbed a successful deal under the nose of other investors, Kevin O'Leary, Lori Greiner, Mark Cuban, and Nirav Tiola. THEMAGIC5, a company offering custom-made goggles for swimmers and delivering them to their doorsteps had all the sharks interested with their app-based scanning feature and variety for all features.

The founders explained that it takes only 13 seconds for their app to scan a face and find out the appropriate size of their swimming goggles, eliminating any discrepancies and discomfort. The goggles were made with high-quality material and were leakproof. Mark Cuban was the first to offer a deal with a counter of $500k for 7.5% equity listed of 2.5% equity asked by the founders.

Kevin O'Leary and Nirav Tiola offered $500k for 5% equity and 3% royalty until $1.5 million is recouped. However. Robert came within no royalty and doubled the price ask of the founder at 6.5% equity, and if the viewers are wondering what took away the deal, it was indeed Robert Herjavec.

Mark Cuban also joined Robert Herjavec in his investment off-camera and invested $500k in THEMAGIC5.

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Shark Tank Season 13 aired in 2021 on ABC Network.