"This is a really interesting business"- When Shark Tank's Kevin O'Leary offered a $400k deal to 'Pink Picasso'

If anybody thought staring at the blank wall couldn't do any good, the Shark Tank Season 13 Pink Picasso founders proved them wrong. Ashley Siflies, one of the founders, got the idea to start this painting kit brand by looking at the blank wall. Ashley and Brittany Silfies were featured in Season 13, Episode 7, and asked for $400k for a 5% stake in their company.

The sharks were highly impressed by the product and the founders' journey. Barbara thought these two mothers were a great inspiration for their kids. After the Shark Tank investors were done getting acquainted with the founders and their backgrounds, Mr. Wondeful wasted no time in jumping on to the numbers. He wanted to know about the sales profile and their valuation.

After the Pink Picasso founders stated the sales and profit margin, the brand intrigued the sharks. Lori cited that it was a profitable brand but wanted to know what the founders wanted from the sharks. The founders explained that they wanted to expand the brand and take it to more prominent retailers.

Mr. Wonderful jumped in, promising to help them achieve it, and offered $400k for 33% of the equity. He added:

"I want to share in the distributions because I'm not a control guy, so we're partners together. We decide how much capital goes into the business and how much we distribute to ourselves. You got to feed your kids. This is a really interesting business."

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What happened with Pink Picasso featured in Season 13 of Shark Tank?

After Shark Tank investor Kevin O'Leary offered a deal to Pink Picasso founders, the rest of the sharks, except Mark Cuban, almost started a bidding war for them. Mark Cuban appreciated the ladies' endeavor and exceptional sales but could not find his beat in the product and opted out. Lori Greiner remarked that it was the perfect product for her to invest in.

She offered a collective deal with Daniel Lubetzky, giving $400k for 20% of the equity in Pink Picasso. Barbara Corcoran jumped in to provide valuable advice to the founders by sharing her example. She did want the founders to bring in an extra financial hand by taking a shark in. After a lot of discussion between the sharks, Barbara offered a deal.

She offered $400k as a loan for 5% equity with 8% interest, while Kevin added another twist by revising his offer. Kevin offered a new royalty deal: $400k for 3% equity and a $6 royalty per kit in perpetuity.

Having three offers now, the Pink Picasso founders counteroffered Lori and Daniel $400k for 15% of the equity. Daniel promptly responded with a yes and locked the deal with Ashley and Brittany Silfies in Shark Tank Season 13.

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Shark Tank Season 16 is available on ABC to watch.