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S13.E17: Young King; Pawnix; Magic Dates; Round21


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First into the Tank are entrepreneurs from Mableton, Georgia, who present their plant-based, natural hair care line intentionally crafted for multicultural young men. An entrepreneur from Nashville, Tennessee, pitches her solution to help pet parents keep their dog calm during loud events; while an entrepreneur from Los Angeles, California, introduces her healthy snack made from an ancient superfood that gives cultural and edible adventure in every bite. A former athlete from Kensington, Maryland, celebrates originality within athletes through art while bringing people together through play with her company and hopes it's enough to land a deal in the tank.

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In a "Shark Tank" update, Andrea Megiatto and Michelle Jimenez from New York City update their investor, Lori Greiner, on Pizza Cupcakes, their snack-sized pizza treat with a one of a kind dough.

The Sharks in this episode are Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner and Robert Herjavec.

 

 

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Robert, Kevin, Mark, Daymond, and Lori. 

1. Young King-multicultural hair care for boys (the sellers kid is so cute).  This year's sales are over $1 million so far, and think they'll hit $3 million this year.  They aren't profitable yet, about 70% of income goes to marketing.  This is such a competitive space.  Kevin pitches one of his awful royalty in perpetuity.    Robert does a royalty until the money is paid back a few times, and if the company is sold Robert gets 5% equity in the sale.  I hated Kevin's deal.   The sellers turn down both offers. 

2. Pawnix-Noise cancelling headphones for dogs.   It drowns out thunderstorms, and other loud noises.   It looks like a fabric bicycle helmet, with space for ears.   Emma the seller's dog seems less than thrilled to be wearing this head gear on TV.  It comes in 4 sizes, and they have custom fits too.   Then, Emma the dog takes the helmet off, and limps out of the dog bed (she's 15, and creaky).   They cost $199 each.   The Sharks object to the price point.   No deal.  

3. Magic Dates snack bites-Superfood with dates in it. Mark points out that the packaging change means it wasn't selling well.  Lori tells the seller to go back to her law school studies in International Human Rights law.    Kevin makes the deal. deal. 

4. Round 21 (they are EFTs, and Mark will explain this so we all understand it, except me).   They partner with artists, athletes and taste makers to do digital collaborations.   Non-Fungable Token, a digital version of a piece of art.   It's a membership for advanced drops, and is for physical and digital products.   NFTs are a small part of their current revenue.   They do physical and digital sports art.   Kevin makes the deal. 

Pizza Cupcakes update.  Lori was their investor, they are getting into major retail grocery chains.   I think they're in Wegmans.  

Edited by CrazyInAlabama
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30 minutes ago, Tango64 said:

Emma was heavily tranquilized. 

I hated how she held her like a sack of potatoes, especially when she said the dog was 15 and had health issues. 

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I was glad to see that the sharks felt like i did - the dog helmet was a good idea, and probably works well, but is just too expensive.  I'd love to get noise cancelling headphones for my dog, but not for $200.  I would be interested in a less expensive product, even if it's less effective (but still effective).

I don't know if there was some heavy-duty editing, but where does Lori get off telling that young woman to give up her business and be a human rights lawyer because there is more of a societal need?  

The "young king" hair product - very competitive space nothing to differentiate them.  Also - what about products for girls? It seems like there are lots of hair and skin products marketing to different racial groups.

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Granted, I'm white, but is there some glutted market of natural haircare for young Black boys that I don't know about? I don't understand this line of thinking. It seems that it's only been fairly recently (like 15 years or so, max) that there have been natural haircare products for Black hair at all. Again, I'm white, but my hair tends to be dry because I color it; I use Shea Moisture products, which are made for Black hair.

There were no leave-in products or moisturizing shampoos and conditioners when I was a teenager, 30–35 years ago. I remember wanting something to nourish my dry, permed hair. (I quit getting perms by the 1990s.)

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Like others like the dog ear phones but too much. And I felt bad how she was handling that dog. 

The last one, round 21, was the best idea even though I don't understand NFTs.  Some cool designs. I can see the appeal. 

Hair care for kids and dates, not interested. 

That was hilarious listening to Lori tell her basically 'don't quit your day job!'  Someyhing Mr wonderful dies all the time you dont expect it from lori

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None of these products appealed to me personally, but that’s true 75% of the stuff on Shark Tank.

Poor Emma shouldn’t have been on deck as Pawnix spokes-doggy.  If that woman had real customers who could attest how well her product works, she should’ve brought those customers and their dogs.  It’s not Emma’s fault, but seeing a older dog struggle to stand up and walk is really bad optics if you’re selling a dog product.

I hate dates, so hard pass.

The sports art looked cool and I can see that taking off.  But aren’t there already “artsy” footballs etc. out there in the market?  My nephew has a really cool baseball bat with graffiti style art.

The hair are for Black boys - I understand the marketing angle of a product having a “niche”. The beauty industry at large has only recognized non-white people pretty recently, and it’s a good thing to have multicultural representation. But won’t this “just for you” product philosophy eventually lead to a very crowded space for a smaller percentage of the available consumers it’s made for?  I like this family, and I hope they do well so one of the big companies buys them out for huge money.

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The appeal of the sports art is not just the art itself but the design associated with a famous athlete and be of a limited edition. 

It's like the sports shoe market but now extended to all the other stuff associated with sports, not just the shoes. 

 

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21 hours ago, DEL901 said:

I hated how she held her like a sack of potatoes, especially when she said the dog was 15 and had health issues. 

exactly--that right there turned me off completely.

11 hours ago, DrSpaceman73 said:

Like others like the dog ear phones but too much. And I felt bad how she was handling that dog. 

The last one, round 21, was the best idea even though I don't understand NFTs.  Some cool designs. I can see the appeal. 

Hair care for kids and dates, not interested. 

That was hilarious listening to Lori tell her basically 'don't quit your day job!'  Someyhing Mr wonderful dies all the time you dont expect it from lori

I was shocked Lori told her that. Im really over these folks coming in asking for a zillin dollars and 2%. it was cute a few times, now I know there is a reason that producers are allowing these folks on stage. Im second hand embarrassed for them.

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I didn't get Round21 at all What exactly unique is she offering that others aren't? Why would I want to buy any of her stuff. The way I understand it, an athlete will get paid to voice their social message? Isn't that a contradiction in term. People suddenly want to by social justice things? I don;t get it sorry.

 

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23 hours ago, mjc570 said:

I was glad to see that the sharks felt like i did - the dog helmet was a good idea, and probably works well, but is just too expensive.  I'd love to get noise cancelling headphones for my dog, but not for $200.  I would be interested in a less expensive product, even if it's less effective (but still effective).

My thought was it would be more helpful with dogs who are afraid of thunderstorms or wind (how often does your dog have to be around fireworks), but the tee shirts they started selling years ago supposedly take care of that without covering the ears which is probably safer for the dog. 

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12 hours ago, BusyOctober said:

 If that woman had real customers who could attest how well her product works, she should’ve brought those customers and their dogs.  It’s not Emma’s fault, but seeing a older dog struggle to stand up and walk is really bad optics if you’re selling a dog product.

She had sold all of 500 units and didn't say anything about customer satisfaction. Obviously just keeping them on the dog was a challenge she hadn't been able to overcome.

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2 hours ago, nlkm9 said:

 Im really over these folks coming in asking for a zillin dollars and 2%. it was cute a few times, now I know there is a reason that producers are allowing these folks on stage. Im second hand embarrassed for them.

. . . while their sales are total crap. Three of the four last night had sales around $100K and were valuing their companies in the millions (plural) and weren't willing to negotiate something more reasonable. What idiots!

The one company that did have over a million in sales (Young King) still wasn't anywhere close to turning a profit, so their valuation was way off, too. (Also, I don't think I would trust a hair product being hocked by a guy who shaves his head. His demo of the product would be just as bad as Emma the dog's). 

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21 hours ago, bilgistic said:

There were no leave-in products or moisturizing shampoos and conditioners when I was a teenager, 30–35 years ago. I remember wanting something to nourish my dry, permed hair. (I quit getting perms by the 1990s.)

There were plenty of them when I was in high school in the '70s. Maybe you were looking in the wrong aisle?

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14 hours ago, DrSpaceman73 said:

The last one, round 21, was the best idea even though I don't understand NFTs.  Some cool designs. I can see the appeal. 

 

6 hours ago, DrSpaceman73 said:

The appeal of the sports art is not just the art itself but the design associated with a famous athlete and be of a limited edition. 

It just sounds to me like something you'd buy when you have more money than you know what to do with it (aka the 1%). 

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For the sports/art collectibles, I can see it ending up like the collectible sneakers, there are a lot of people who buy new releases, and resell, or keep for their own collection, and they aren't 1%.   They're either collectors themselves, or holding for the value to go up, then they resell for a profit.   I'm wondering if the sports collectibles are only one of each, or if they do multiples?   

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10 hours ago, eel21788 said:

My thought was it would be more helpful with dogs who are afraid of thunderstorms or wind (how often does your dog have to be around fireworks), but the tee shirts they started selling years ago supposedly take care of that without covering the ears which is probably safer for the dog. 

My dog, Cali, was terrified of storms, thunder, fireworks, etc. it was a nightmare because, with a storm you could MAYBE plan ahead. But even then, you don’t know exactly when that crack of thunder is going off. The hard part for us were the fireworks. The yahoos near us would let off fireworks, despite them being illegal, ALL SUMMER LONG. Their 5 minutes of pleasure would make my dog anxious for literally hours. It got so bad she would get anxious as soon as it started getting dark.  When I would complain on our neighborhood Facebook page (not just about Cali, but to be considerate for animals, babies and vets with PTSD) I was told I shouldn’t have a dog if I couldn’t “handle it”. 
 

If I had felt this would work, I would’ve spent that money on these things. The problem is, if you have a dog as anxious as Cali was, that very first noise would set her off and even the headphones wouldn’t help. She even used to react to firework sounds on the TV. We tried all kinds or medicines, thundershirts, crates- literally everything and nothing helped her. Sadly, Cali passed away from cancer but I think about her all the time when I see products like this. 
 

I FF products or even just entrepreneurs that I don’t find interesting. I watched the doggy headphones just because of Cali but I FF’d the rest of the episode. 

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On 3/25/2022 at 10:42 PM, mjc570 said:

I don't know if there was some heavy-duty editing, but where does Lori get off telling that young woman to give up her business and be a human rights lawyer because there is more of a societal need?  

I agree, I thought that was awful. Fine, you think the business sucks. But the woman said she realized she had a passions for working with food, so why not just tell her to try major changes to the business? If she decided she didn't want to be a lawyer she doesn't have to do it for the good of society.

I felt so bad for that poor dog, she look miserable. Usually dogs that come up are so keyed up and hyper.

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1. Young King: The family seemed very nice and smart, but I felt that their valuation was WAY off.  I agree with Lori to put their adorable son on the packaging to make it more obvious who the target market is.

2. Poor Emma looked so unhappy :(   We used to have friends years ago whose dog who would completely lose her shit when fireworks went off and would hide under the bed for an entire day afterwards.  Whenever they were going to have fireworks in their neighborhood, they would come over to our house.

3. Dates do not interest me.  I felt bad for the young woman when Lori tells her to go back to law and when both Mark and Lori tell her that the old packaging was better.

4. I rolled my eyes over the NFTs.  In my opinion, NFTs are a good idea to accompany certain items as irrefutable proof that you and nobody else, owns it.  But as actual digital stuff that you purchase - I just can't.  Do I really want something like a digital basketball?

The pizza cupcakes seem to be doing well and the couple seems nice.  I can't say that I remember when they first appeared.

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On 3/25/2022 at 10:39 PM, TM101 said:

Most boring season of products ever.

Maybe I'm just engaging in burnished nostalgia, but I run across old episodes on CNBC occasionally, and they remind me of what I liked about Shark Tank in the early days.  People asked for $40,000 for 20% of their company, and the product was some little gadget or fix for a problem.  I enjoyed the cleverness of the products, and the smallness of the enterprises.  They just wanted help.

These days, they want $500,000 for 2% of their company to supplement the X number of rounds of funding they've already had, for a company that's still not profitable.  And all too often the products are solutions looking for a problem, or an app.  Zzzzzzzzz.

Plus, the current show reminds me of the stranglehold social media has on everyone, which makes me long for the days of real word of mouth about clever or ingenious products. 

I remember when Mark forced the show to quit taking a cut of every presenter's business just for appearing on the show.  At the time, I thought it was really noble.  Now I miss it, because there are an awful lot of them who seem to be using Shark Tank just for the exposure and getting a deal might be at most icing on the cake, or possibly not even actually desired.

Edited by StatisticalOutlier
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1 hour ago, StatisticalOutlier said:

I remember when Mark forced the show to quit taking a cut of every presenter's business just for appearing on the show.  At the time, I thought it was really noble.  Now I miss it, because there are an awful lot of them who seem to be using Shark Tank just for the exposure and getting a deal might just at most icing on the cake, or possibly not even actually desired.

I had NO IDEA that this used to be the case!

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2 hours ago, StatisticalOutlier said:

Maybe I'm just engaging in burnished nostalgia, but I run across old episodes on CNBC occasionally, and they remind me of what I liked about Shark Tank in the early days.  People asked for $40,000 for 20% of their company, and the product was some little gadget or fix for a problem.  I enjoyed the cleverness of the products, and the smallness of the enterprises.  They just wanted help.

These days, they want $500,000 for 2% of their company to supplement the X number of rounds of funding they've already had, for a company that's still not profitable.  And all too often the products are solutions looking for a problem, or an app.  Zzzzzzzzz.

 

 

That has been my main complaint for a while. Just like those house hunter shows where the husband is a stay at home father while the wife runs at Etsy store from home & they have a price range of no higher than $5 million, I mean WTF?

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On 3/26/2022 at 9:22 PM, DrSpaceman73 said:

You think only the top 1% buy sports memorabilia?

I didn't phrase it very well. What I was trying to say is: the only people who should be buying this junk are people who have a lot of disposable income, especially not people living paycheck to paycheck. That severely limits her target audience right now.

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16 minutes ago, eel21788 said:

I didn't phrase it very well. What I was trying to say is: the only people who should be buying this junk are people who have a lot of disposable income, especially not people living paycheck to paycheck. That severely limits her target audience right 

Ideally sure that SHOULD be the case, but it's not

Going back to basketball shoes, whixh are not just to wear but are a fashion symbol, just the opposite is true.  Not the 1 percent but the 99 percent that buy those. 

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I don't understand NFTs, and I don't want to.* It seems like spending money on "upgrades" in a video game--literally money for nothing. The fact that people spend money on nothing tangible is wild to me. Who are these people with this kind of money? The median household income in the U.S. is about $67,500. That's not a lot.

*Really, don't try explaining the concept, because I don't care.

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4 hours ago, bilgistic said:

The fact that people spend money on nothing tangible is wild to me.

I'm not trying to explain the concept; you don't want to hear it and I don't really understand it myself, and what I do understand of it kind of makes me want to throw up.  But to your point--stocks are intangible.  Or, well, there's theoretically a certificate, but there are trillions of dollars invested in stocks and the buyers never see even a stock certificate. 

NTFs are like stocks in that they can be bought with the hope of selling them later at a higher price.  It doesn't even matter what the NFT is, just as it doesn't really matter which stock you buy--you're just wanting to pick one that will increase in price. 

Some NFTs actually do represent something (like some art work, or Jack Dorsey's first tweet), but they're not necessarily meaningful in and of themselves--they're just something that's produced for people to buy hoping they'll make money, or to own something rare.  Not unlike the sneakers that are produced that are never intended to be worn. 

And in the case of the NFTs on this episode of Shark Tank, their website says, "Our digital collectibles are an access pass to the full round21 community & experience," including:

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Early access to certain special drops.
Tickets to certain round21 special events IRL.
Access to co-creating products with us 1 times per year.
Automatic addition to our Random Acts of Kreativity list.
Access to certain digital events in the metaverse.

Seems to me it's just another bullshit made-up way to leech off people without adding anything of value to society, except maybe making people feel special because they gave you their money. 

I'm heartened by knowing they'd sold only $20,000 of NFTs (I think that's what she said). 

Edited by StatisticalOutlier
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20 hours ago, DrSpaceman73 said:

Ideally sure that SHOULD be the case, but it's not

Going back to basketball shoes, whixh are not just to wear but are a fashion symbol, just the opposite is true.  Not the 1 percent but the 99 percent that buy those. 

 

18 hours ago, bilgistic said:

 Who are these people with this kind of money? The median household income in the U.S. is about $67,500. That's not a lot.

Which is why they're always broke and can't pay their landlords.

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On 3/25/2022 at 9:00 PM, CrazyInAlabama said:

Pizza Cupcakes update.  Lori was their investor, they are getting into major retail grocery chains.   I think they're in Wegmans.  

On 3/27/2022 at 7:21 PM, aemom said:

The pizza cupcakes seem to be doing well and the couple seems nice.  I can't say that I remember when they first appeared.

Well I definitely remember them because it's one of the few Shark Tank products I've ever ordered.  Funny, cause last week was the cupcakes in a jar (not that great), which is the other food product that I've ordered.  The Pizza Cupcakes are pretty good.  The crust is not like pizza crust..it's fancier, denser, and heavier than that.  Considering how small they are, they're very filling. 

Just thinking...the other products I recall ordering are that hair catcher suction thing for the shower (no good) and a clear plastic belt that lays flat (very good).

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Some sort of headphones for dogs to cancel out loud noises might be useful but it would have to something they would be comfortable to wear. My family had a dog that got scared by a bad thunderstorm when she was a puppy. Eventually she found some comfort hiding under the couch whenever there were loud noises like thunderstorms or fireworks. I think some sort of tight shelter that muffles noises, similar to hiding under a couch, would be a better solution for the most part with some sort of mobile variation for car trips

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