"I don't need to prove what I can do" - When Shark Tank's Robert Herjavec missed out on the profitable Cousins Maine Lobster deal

Shark Tank season 4, 2012 saw a pitch from Jim Tselikis and Sabin Lomac, two cousins who started a food company, Cousins Maine Lobster. They sought $55,000 in exchange for 5% of their company.

They owned a food truck franchise and the menu consisted of recipes made with fresh lobsters from their hometowns. The brothers hoped to open more trucks because they couldn't "keep up with their own demands."

However, Kevin was wary of investing given that they valued their company at over a million dollars. But the sharks were shocked when the cousins revealed that since they opened the one truck they own, they have done $150,000 worth of business.

Mark asked the entrepreneurs about the economics of their business, but while explaining, they got distracted by Barbara's question, and this made the shark frustrated. He opted out of the deal, and Kevin and Daymond followed suit claiming that the company's valuation was too high for them.

Robert made an offer matching the amount the guys were asking, but at an exchange of 25% of their business. Barbara was also ready to give them the $55,000 but for 17% of the company equity.

When the entrepreneurs asked what their strategies were to expand the business, Barbara explained that she is better at marketing and thus, can open more doors for the business. However, Robert was not happy with the question and expressed,

"There's a reason I'm up here. I don't need to prove what I can do... I'm out."

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Shark Tank entrepreneurs accept Barbara's offer for Cousins Maine Lobster

Shark Tank investor Robert was offended when asked about his thoughts and strategies for the business, had the entrepreneurs accepted his offer.

However, he felt there was no need to explain his worth and thus, he opted out. The brothers then renegotiated the offer that Barbara had laid out for them. They were ready to adjust to 12% but soon, accepted the deal when Barbara counter-offered at 15%.

After their debut in season 4, Cousins Main Lobster came on Shark Tank season 10 to update about their business. They said,

"It's crazy what can happen in 6 years. When we started, we had one food truck in Los Angeles and since then, we've grown into 29 food trucks and 21 different franchises, 10 restaurants, and guess what, we're international in Taiwan. It's crazy... Our journey on Shark Tank has absolutely been a dream come true.

The brothers also revealed a 10th franchise opening in New York City at which Barbara worked as a waitress giving away people's orders.

Kevin and Daymond also attended the opening and the former claimed that he's "there" whenever Barbara is offering free lunch to the guys.

As for the numbers, they started with just $150,000 in sales but now they have over 15 million. This update was made years ago but to this day, Barbara remains involved in the business.

Cousins Maine Lobster has become the 5th most profitable company to rise from Shark Tank, and Robert had missed out on investing in the same. Kevin and Daymond also missed out on their doubts about the valuation of the same, but Barbara made the correct choice and supported the young entrepreneurs.

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Episodes of Shark Tank season 16 are released every Friday on ABC at 8 PM Eastern Time and are available to stream on Hulu.