Shark Tank Season 13 featured a cookie dough brand called Deux. The founder, Sabeena Ladha, who was herself health-conscious, presented this vegan, supplement-infused cookie dough brand and asked for $300k for 10% of the equity in her company.
Sabeena built a brand that serves health with taste and has a lot of functional ingredients that are otherwise missing from such products. She presented the sharks with the sample, and as much as they appreciated the taste, the calorie count was something to look for. After learning more about Sabeena's background, it was time for the sharks to get involved with numbers.
The sharks were impressed by the sales number, and Mr. Wonderful remarked, "You know how to sell." However, Robert took the lead, and citing his dislike for sweets, he opted out. With the other two sharks out as well, Kevin and Mark were the only sharks left. Kevin cited that he was not such products, while Sabeena remarked respectfully that he was not the "target customer."
Leaving only Mark on the panel as Sabeena's last shot, things did not go as planned. Mark had an issue with the calorie the product was offering and opted out. Sabeena took the last chance to show her grit and explain things, but Mark felt that she was not listening. He said:
"Sabeena you had a problem reading the room and that's one of the challenges when it came to you whether it was comment to Kevin. We're not your demo cuz you were very clear but you got to read the room to at least try to make us feel good about who we are."
Shark Tank investor Robert Herjavec backs Deux founder after she does not get an offer from any investor
After Shark Tank investor Mark Cuban's "problem reading the room" remark, Robert defended Deux founder Sabeena. Although Mark made it clear that he did not doubt her phenomenal pitch, it was more than the product looked for in a pitch.
Robert Herjavec mentioned that he was willing to help in growing the brand but asked Sabeena not to come to him to discuss the product details because he would not be able to "add value." Citing "This is purely an investment in Sabeena," Robert offered $300k for 15% of the equity in Deux.
Sabeena counteroffered Robert and insisted on taking 12% equity, which did not sit well with Robert. He promptly replied that he was not open to negotiation. Sabeena bravely took another shot and asked Robert to do $300k for a 10% share of equity and a 5% advisory share. Robert denied the offer, leading to Sabeena accepting Robert's previous offer.
However, he is the catch, Shark Tank investor Robert was tired of the negotiation and opted out of the deal, leaving Sabeena with no offer at last.
Shark Tank US airs on ABC Network.
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