"Nearly lost it" - Shark Tank's Kevin O'Leary reflects on Bumpeez offending Barbara and Robert

Shark Tank season 16, episode 11 featured a pitch from Michael Bergida and Israel Schaya, who hail from Brooklyn, New York. Israel revealed that he has six children who often get upset after a day at the amusement park. It is because they have to wait for hours just to get 2 minutes on the ride. This has prompted them to design a fun toy car for kids at home.

Explaining the product on Shark Tank, Michael says that Bumpeez is "the world's first patented, at-home bumper car, with an adorable self-inflating character" attached to the car.

Sharks loved the product and soon started negotiating for the same. The entrepreneurs received an offer from Barbara, Robert, and Kevin. However, Israel was still trying to sell the product to Lori who said he was out earlier. Barbara was offended because she felt "invisible" despite making an offer.

Israel then tried to lure Shark Tank investor Mark Cuban in and this offended Barbara even more because the entrepreneurs were not acknowledging her offer at all. She soon said she was out. Even Robert opted out at that moment because he felt the entrepreneurs did not want to do business with him.

However, cutting them a royalty deal and apologizing for his behavior, Israel brought them back in, and they made a deal. Thanking the sharks, Israel says that he is appreciative of both sharks with his company. Kevin acknowledges it by saying,

"You nearly lost it. You nearly lost it."

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Shark Tank entrepreneurs Michael and Israel pitch Bumpeez

Bunpeez are fun bumper cars that have patented inflatable technology that makes them fun and unique. The concept does not require a pump at all. The product comes with a rechargeable battery and can be used indoors, as well as outdoors.

Michael explains that Bumpeez also has a harness and safety tools such as a remote, which make it kid-friendly, while parents can control it all if they wish to.

The product excited Shark Tank's Robert and Kevin, who decided to try it out for themselves. They each chose a Bumpeez car and sat in it. The two sharks then tried bumping into each other while also knocking up the cardboard display in fun.

Soon the conversation navigated to the financial aspects of the company. Micahel says that a single Bumpeez car requires $52 to manufacture. As for their market price, it is set at $149.99 on Amazon.

Shark Tank investor Robert Herjavec appreciates the profit margin for the same. Israel says that their patented inflatable technology comes along with it.

Talking about Bumpeez and its sales, Israel revealed that they had hit $520,000 since starting almost nine months ago. They are projecting a million dollars in sales for the year and more than 2 million dollars for the year after.

Barbara asks them why they are seeking so little money from the sharks if their company valuation is much higher. Clarifying his side, Israel says,

"We believe that this company is going to be worth a lot more. Tens of millions of dollars. But we valied the company much, much lower than what we really believe in it because we wanna get a deal with you guys today."

Israel says that he is here for a "strategic partnership" between the sharks as "opposed to a financial one."

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Shark Tank season 16 episodes drop out weekly on ABC at 8 PM Eastern Time on Fridays. Later, these can be streamed via Hulu.