Shark Tank Season 16 Episode 3 generated $700,000 in total investments across two deals from the night's five featured investors. Aired on November 1, 2024, the episode saw Guest Shark Kendra Scott joining panel alongside regular Sharks Mark Cuban, Lori Greiner, Kevin O'Leary, and Daymond John.
Scott, founder of a billion-dollar jewelry brand and returning investor on the show, secured a partnership with Yardsale ski poles after outbidding Kevin O'Leary's royalty offer. Scott's expertise in retail expansion and brand building shaped several key moments throughout the negotiations.
The products ranged from sustainable lip care to customizable ski equipment, with valuations spanning from $1 million to $10 million. Mark Cuban and Lori Greiner invested $200,000 for a 30% stake in Doatnut, an oat-based gluten-free donut brand.
Two additional companies, Sugardoh with $5.6 million in sales and Kobee's Lip Balm reporting $860,000 in revenue, left without securing investments in Shark Tank Season 16 Episode 3.
Shark Tank Season 16: Four brands face the sharks, two land deals in Episode 3
Doatnut gets double shark success
Kimberly Aguirre, creator of the oat-based donut brand Doatnut, stepped into the Shark Tank Season 16 Episode 3 seeking $100,000 for a 10% stake. Her presentation showcased donuts crafted from Wyoming-sourced organic oat groats, with natural sweetness derived from monk fruit. Each donut contains less than one gram of sugar, sourced from sweet potatoes. The products cater to consumers following dairy-free and gluten-free diets.
Mark Cuban and Lori Greiner saw potential in Aguirre's creation, extending a $200,000 offer for 30% ownership. The deal came despite warnings about shipping challenges.
The company's direct-to-consumer strategy requires temperature-controlled delivery, which could result in $10 retail prices per donut. Aguirre accepted the partnership, gaining two experienced Sharks to guide her brand's expansion.
Yardsale's strategic win
Kelly McGee and Cristina Ashbaugh presented their ski pole company, Yardsale, in Shark Tank Season 16 Episode 3 with a request for $200,000 in exchange for 10% equity. The six-month-old company impressed the panel with its 75% profit margins on customizable ski equipment.
McGee and Ashbaugh backed their $2 million valuation by highlighting their June 2024 Core77 Design Award and growing retail presence.
The founders established a partnership with Big Sky Town Center's Bluebird store in Montana, marking their first retail location in January 2024. Their product line grew in October 2024 with the release of P2 and Mini P1 poles. Kevin O'Leary showed interest through a royalty-focused proposal.
However, Guest Shark Kendra Scott stepped in with a competing offer, ultimately securing the deal. The company's recent collaboration with Halfdays produced limited-edition pink P1 ski poles, demonstrating their market growth potential.
Sugardoh's financial challenges
Aliyah Marandiz brought her at-home body hair removal brand Sugardoh to the Tank, requesting $500,000 for 5% of the company. Her pitch highlighted the company's remarkable growth from $50,000 to $5.6 million in sales across four years. The plant-based hair removal paste targets customers seeking gentle solutions for sensitive skin.
Despite strong sales figures, Marandiz revealed significant financial obligations. The company carries $1.5 million in debt with a 22% interest rate, resulting in annual interest payments of $330,000. These financial commitments prompted concerns from all five Sharks.
Marandiz left Shark Tank Season 16 Episode 3 without securing investment, but maintains a strong social media presence with 63,000 Instagram followers. The company continues its focus on sustainable hair removal solutions through their online direct-to-consumer model.
What happened with Kobee's Lip Balm?
Kobe Harris entered seeking $300,000 for 6% of Kobee's Lip Balm, his natural lip care brand. The presentation emphasized the company's environmentally conscious approach, using just four ingredients: beeswax, coconut oil, sunflower seed oil, and mango butter.
Harris reported $860,000 in sales for the previous year, with customer acquisition costs of $14-15 and average orders of $36. The company's six-pack lip balm set drives 75% of total revenue. Shark Tank regular panelist Kevin O'Leary proposed $300,000 for 20% ownership. Harris declined the offer, choosing to maintain greater control of his company.
Prior to the Tank appearance, Kobee's Lip Balm secured $30,000 in seed funding from Path Ahead Ventures in July 2022, which supported manufacturing expansion and product development.
Trending
Shark Tank Season 16 Episode 4 will air on 8 November 2024 at ABC network.
Reply
