Shark Tank season 16 aired another fun-filled episode where the sharks judged the innovative products and pitches based on their viability and potential to stir the market and invested accordingly. Besides engaging pitches, the latest Shark Tank episode also gathered limelight as the guest shark, Todd Graves graced the shark seat one more time along with Mark Cuban, Kevin O'Leary, Lori Grenier, and Daymond John.
In episode 6, the spectrum of pitches varied from a portable ping-pong game establishment to a custom-made bar set up in the comfort of a customer's home. In total four deals made it to the sharks' list of Investment this week which included:
Pepper Pong by Tom Filippini, Taverns-To-Go by Paul Convey and Enda Crowley, Kaans Designs by Kenny and Ashley Green, and Foam Coolers by Chad Lee and David Kittle.
The official synopsis of the episode 6, Shark Tank season 16 reads:
"A portable ping-pong game; an at-home bar experience; a T-shirt brand that aims to preserve family memories; a lightweight foam cooler fit for any occasion; Todd Graves returns."
Shark Tank Season 16 Episode 6: Who sealed the deal with the sharks?
Shark Tank season 16 episode 6 featured four creative and potent pitches that stole shark's interest and investment. Episode 6 also had Todd Graves, the owner of Raising Cane's as the guest shark. The episode witnessed a splurge of entrepreneurial spirit along with the intriguing energy of sharks who brought their expertise and skill set to help the pitchers.
The product design and development experts Chad Lee and David Kittle presented the sharks with their innovative and distinct product, FOAM Coolers made with EVM foam, which enhanced its weight, portability, and functionality. The founders asked for $150,000 for 10% of equity.
The duo faced a problem with the price point of the product yet got two offers from the sharks. Daymond John and Kevin O'Leary presented the duo with $150,000 for 30% equity and 33.3% equity respectively. Chad and David decide to go with Daymond's offer.
Another product that got an offer in Shark Tank was from Todd Graves and Daymond John. Tom Filippini, the founder of Pepper Pong asked $150,000 for 10% of equity for his portable ping-pong setup which focused on providing dexterity and fun at the same time.
Todd Graves saw an opportunity to impart his social media marketing skills and take the product to another height and therefore lured the founder to lock the deal at $150,000 for 17.5 % equity.
Todd Graves also invested in Kaans Designs by Kenny and Ashley Green, who chose Todd after hearing other offers as well. The duo brought a family-friendly clothing brand to the table with expertise in cost-effective, screen printing designs. Their profit margins pushed Todd to offer $75,000 as a loan for 10% of equity.
The duo appreciated Todd's offer and welcomed him onboard to help them grow their social media presence and sales.
Lastly, Lori Grenier was impressed by Paul Convey and Enda Crowley's Taverns-To-GO, a wooden bar setup that would take only 90 minutes to get installed and could provide a bar-like experience in the comfort of your home. Kevin and Lori bother presented the founders with the offer, banking on their impressive sales and profit margins.
The founders accepted Lori Grenier's offer and sealed the deal for $400,000 at 15% equity with added condition of 30% royalty until the shark recovers $600,000.
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Shark Tank Season 16 episode 7 will air on December 13 on ABC.
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