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On Shark Tank season 15 episode 20, Cambria and Angie Cella were seeking $200k for 5% of their business. The Blinger founders explained that their product was an easy-to-use hair tool to attach crystals and gems to the hair. The women's package was priced at $49 meanwhile the fake crystals with the hair tool for girls cost $29.99.
They shared that their sales were $1,640,000, and predicted sales for the end of the year were $4.2 million with a profit of $1.5 million. When Angie revealed that she had $2.5 million in inventory, Mark Cuban predicted the business wouldn't last if they didn't have someone experienced to manage the money. He said:
"Guys you have $2.5 million in inventory you're effectively out of business unless you sell that inventory. you need somebody just to run this whole thing, you're not even in a position to take an investor yet because everything is a mess and so for those reasons I'm out."
Angie told the Shark Tank investor that she wanted to back down from the CEO position and was looking to partner up with a shark, Barbara Corcoran saw her potential and decided to make an offer of $200,000 for 25% equity which Angie accepted.
Blinger's founder secured a deal with Shark Tank investor Barbara Corcoran
Shark Tank investor Kevin O'Leary gave the same advice as Mark Cuban's. He praised the founder for her vision and how far she was able to sustain the business. However, Mr. Wonderful felt she needed someone to take over the business operations and handle the "mess." He backed out from investing in Blinger and wished good luck to Cambria and Angie Cella with their journey ahead. Kevin said:
"I really think what you have to do is find someone that takes over your operations because you're the creator, the visionary, the mom that did it but wow what a mess you've got on your hands. I wish you the best I love the story but I'm out."
Shark Tank investor Barbara Corcoran was the only shark to place an offer. According to Corcoran Blinger's founder had attributes she looked for in entrepreneurs. Corcoran expressed interest in partnering up with the founder to help her manage the business, she stated:
"What's attracting me to it is your tremendous traits of persistence that you have, ambition you have. Anyone else would have given up all along the way. And that you surround yourself with people who believe in you which means you're a natural-born leader. The only thing missing here really is some control over the money."
Corcoran offered $200,000 for 25% equity alongside purchase orders funded. Robert chimed in advising that for the business' success in the future, the founder must partner up with someone like Barbara. He encouraged the business owner to accept the offer, which they did.
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As of April 2024, Blinger's 2,000 units of products were sold each month on Amazon and have been worn by celebrities such as Serena Williams, Sheryl Lee Ralph, Pink, and Alicia Keys.
New episodes of Shark Tank are available to stream on ABC.
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