S15.E11: Poplight; The Duo; Table Tyke; Like Air Puffcorn

[JTMacc99]

Quote

Impassioned entrepreneurs enter the Tank to score an investment deal on products, including a damage-free wall light, an umbrella with two handles, a silicone placemat with an edge and a gluten-free alternative to popcorn.

Ooh! "Impassioned entrepreneurs". I like them more than the blasé entrepreneurs we usually get.

[CrazyInAlabama]

Season 15, episode 12, 19 January

Sharks-Barbara, Mark, Robert, Kevin, Lori

Poplight-a damage-free wall light. They want $150,000 for 8%.  Wall lights that stick to the wall, double sided adhesive, with a built in level, attach the base, and swivel and twist the light on.   USB rechargeable. There's an app to turn on and off, dim the light, or set an alarm.   When you take the tape strips off of the wall they don't damage the wall. Retail $95, $25 to make.  60% margins.   4 hours to a full charge, light stays on for 4 to 5 hours, and you can leave it plugged in.  They have 3 patents.  They have inventory issues.   They have a website.  Sales aren't much so far. 

Kevin makes an offer royalty of $2 til he makes $500k, then royalty drops to $1, for 8%.   Barbara $150k, $20 royalty per unit, no equity, no end date on the royalty. Even Kevin says Barbara's offer is brutal.  Robert is out, and tells the sellers to take Kevin's offer.   Lori is out. Mark is out.   The sellers counter Barbara at $12 royalty. 

Poplight was a great idea, especially in a rental.    If they have to run wires for two lights, and do all of that work, then it could cost that much for two lights, including drywall repair.   It depends on where the electrician has to run wires from.   Also, the lights that might work for now won't work if you get a different height bed, or a wider bed.      If it's a rental that would work better, because you just take them down when you move, and don't have to pay repair costs.  Or if you use the lights in a bedroom, and convert it to an office, or craft room, and need to move the lights.  

They need to get other finishes, and styles of lights too.  Not everyone wants a light with a color base, just brass or chrome look and maybe white or black would work for most homes.  

They make a deal with Kevin.   Great decision.     

The Duo- an umbrella with two handles. They want $100,000 for 10% equity.  A creative way to cover two people.  Dual handle has a second adjustable handle that telescopes down, with a 54" canopy, they have a compact size for purses, or the larger stick size.   They are pre-revenue, not on the market yet.   They have one patent, with another one pending.    Nathaniel is 15-years-old, did the design and applied for a patent when he was 9-years-old.   Shed Rain is the #1 umbrella manufacturer, they own 49% of the U.S. market.   Shed Rain will help with manufacturing, marketing, distribution.  Barbara goes out. Kevin is out.  Mark is out so his percentage won't dilute the 51% Nathaniel and family own. Lori is out.   Robert offers $100k for 20%.  Nathaniel counters at 15%, and they make the deal at 18%  

Robert will be a great partner for the business. 

The Table Tyke- a silicone placemat with an edge (Reminds me of the EZ PZ device for the same thing a few years ago, it didn’t get a deal, but seems to still be in business. That one had compartments, but no table edge cover, and no uses for adults).   $100,000 for 10%.  Multifunctional placemat with an edge bumper, so the kid isn't chewing or touching a nasty table edge.  Mat rolls up and has loops to secure it. Dishwasher safe.  There is an XL size for adults, baking, crafting, etc. for adults.  Sales were $10k in 2020, 2021 $24k, just under $100k in 2022, 2023 anticipates $200k.   

She did a Tik Tok, and sales exploded.    Robert says it's a one hit wonder.    Great margins, 80%.   In boutiques, not big box.  She needs help with social media.    Kevin is out.  Mark is out.  Lori says product is unique, and not to get an investor.   Barbara says business is on the verge of exploding, but she doesn't need a Shark.  Robert says it's too small, so he's out.   It's available in regular and XL on Amazon.  

No deal.   

Like Air-a gluten-free alternative to popcorn.  Three siblings from New Jersey.   $300k for 3 1/2% equity.   Puffcorn, no hard kernels, nothing artificial, gluten free, non-GMO, 3 cups per serving in sweet and savory varieties, pancake, cinnamon bun, classic (movie theater butter), and  White Cheddar.  Kevin says it's the best low cal snack he's tasted in 15 years on Shark Tank.     Pricing is similar to other snack puffs.  Margins are great, and they have their own production line.  The have a lot of debt, over $4 million, 2020 sales were $2.5 million, 2022 over $5 million in sales, expect $10 million in 2023.   This is a very crowded share of the market.  They sell at Kroger, and a lot of other grocery stores.  They are selling on Amazon too.    They need help to open doors.   

Mark wants to know if their Tank appearance is just a commercial for their product.  Kevin is out, too little equity.  Barbara talks about Pipcorn, but her investment was diluted, and says the companies needs millions in funds.  Robert goes out.   Lori is the only one left, she offers  $300,000 in  7 1/2% non-dilutable equity.  The sellers counter 7.5% dilutable, Lori says 10% dilutable.  

Deal with Lori and Mark at 10% dilutable. 

Update: Bridal Babes, deal with Emma Grede.  Size inclusive bridal wear for women of color, and curvy brides.   Their business is booming, with over a million in sales last year.   $3.3 million lifetime sales.  I love their fashions.   

Iconic Moment: Cup Board Pro. All five sharks made the deal Daymond, Lori Robert, Mark and Barbara.  A large percentage of Shark profits go to 9/11 charities.   The kids were on My Lottery Dream Home a few years ago, and were buying a huge house for all of them to live there.   

Edited January 20 by CrazyInAlabama

[hifihifi]

Like AIr:

The SHarks & apparently this forum are ignoring The Elephant in the room. Why would you use a grossly overweight partner to try to sell the SHarks on a Healthy Snack? They did manage to get a deal which in my opinion was totally unecessary as they already had strong financial backing & what are Cuban & Laurie going to add for 10% to an already backed product? Bad deal in my opinion.

[EtheltoTillie]

The corn snack seemed like Popcorners brand, which has been around for a while. Delicious by the way.  

[tired and hungry]

2 hours ago, hifihifi said:

Like AIr:

The SHarks & apparently this forum are ignoring The Elephant in the room. Why would you use a grossly overweight partner to try to sell the SHarks on a Healthy Snack? They did manage to get a deal which in my opinion was totally unecessary as they already had strong financial backing & what are Cuban & Laurie going to add for 10% to an already backed product? Bad deal in my opinion.

Exactly what I was thinking!! Did they even need an investor? Nice of Mark to criticize them first for being on the show just to get a free commercial and then turn around and make a deal with them.

I always wonder why these already successful businesses need to raise so much money? Maybe in this case the food industry is very competitive and obviously requires lots of money but I don't understand why they need to keep raising 5,10,20 million dollars. Just seems like they want to get to X amount of valuation in the shortest time to get an exit & then sell the business. What's stopping them from increasing their valuation even more now? Now can't they say we have 2 sharks on our team so our 5M valuation is now worth 20M? They clearly dont need any help and just come on the show to increase their valuation. This just seemed like a get rich quick scheme especially with the 2 investment bankers. 

[tired and hungry]

Poplight - Oh great another thing that needs to charge. Personally I thought the design of the light was kinda meh. And was it really level though? The light that the long haired lady attached to the wall was definitely crooked. Also, in the US does it really take 1000+ dollars to call an electrician and install a light?? I'm shocked.

Sorry but the Silicone Mat lady's business had a terrible name. Also what's stopping the baby/toddler from ripping the mat off the table? I know that's not the problem the mat was trying to solve but it can happen. I remember there was another mom who pitched a silicon mat for the table with a built in bowl so that babies can't pick up and throw the mat. (If you've seen that video where the baby is smart enough to pick the mat from the edge then you'll know that this doesn't work)

[CrazyInAlabama]

2 hours ago, tired and hungry said:

Poplight - Oh great another thing that needs to charge. Personally I thought the design of the light was kinda meh. And was it really level though? The light that the long haired lady attached to the wall was definitely crooked. Also, in the US does it really take 1000+ dollars to call an electrician and install a light?? I'm shocked.

Sorry but the Silicone Mat lady's business had a terrible name. Also what's stopping the baby/toddler from ripping the mat off the table? I know that's not the problem the mat was trying to solve but it can happen. I remember there was another mom who pitched a silicon mat for the table with a built in bowl so that babies can't pick up and throw the mat. (If you've seen that video where the baby is smart enough to pick the mat from the edge then you'll know that this doesn't work)

That was EZ PZ, it didn't get a deal, but is still on Amazon.     I didn't like that the built in bowl shape was on there.   For different foods and portions you need different size compartments.    She could have sold bowls and plates that attached to the mat for different needs and made more money, and made the mat more useful.   

 

The mat in this case was nicer, because it wasn't high chair shaped, but I think they should all be the XL size.  You need room for more plates or cups or whatever you want to put on it.  Also, wider mat means the baby isn't going to be able to reach the sides so easily.   

Edited January 20 by CrazyInAlabama

[Tango64]

4 hours ago, hifihifi said:

The SHarks & apparently this forum are ignoring The Elephant in the room. Why would you use a grossly overweight partner to try to sell the SHarks on a Healthy Snack?

As soon as they came out I braced myself for Barbara making a terribly inappropriate and hurtful remark like she’s done in the past. You just know she did to the other sharks after those people left. 

[bilgistic]

Doesn't everyone who gets on Shark Tank use it as a commercial for their product?

The lights are nothing new. Amazon is chock full of them for WAY less than $95. Buy some 3M Command Adhesive to stick them to the wall and you have literally the same thing.

[DrSpaceman73]

The lights also haven't been tested yet by customers. Do they really stick on and stay?  Seemed like they didnt last long on one charge either

 

The like air seemed intersting but they're going to keep raising money and you get diluted plus you start so low. No way other investors would allow someone to join and not be diluted. I wouldn't. You'd have to hope it sells out for like $100 million to make even a few million. Even at 10% between two of them that's 5% each. Not enough. 

[Tango64]

20 minutes ago, bilgistic said:

The lights are nothing new. Amazon is chock full of them for WAY less than $95. Buy some 3M Command Adhesive to stick them to the wall and you have literally the same thing.

They kept saying the selling point was being able to remove the light without damaging the wall. That’s the selling point for 3M Command Strips, not your junky $95 light! They must be using the 3M product so what are they really providing?

Plus, they annoyed me with their over-rehearsed gestures and comments. Ugh. 

[Madding crowd]

I didn’t have a problem with the overweight person on Shark Tank; overweight people are business owners too. I don’t think they were trying to suggest the product would help you stay thin as much as the gluten free/organic aspect. I think it would be complicated to invest in a company with so many funding sources. I thought the light product would be good for renters. The baby products always seem like a bad invest to me; they will never make someone a millionaire and there are so many similar products out there. My son never chewed on tables as a baby , is this a big problem?

[silversage]

The lights looked like a kids science project. They looked cheap and looked like gravity would pull them down. I’m not sure why presenters have to say, “always” for something that isn’t true like when they said tabs from the adhesive always stick out. I just bought a touch light (like Barb mentioned) and I don’t have a tab sticking out.

[hifihifi]

I still don't see how Marc Cuban & Laurie will increase the value of Light Air at all as it is an established company.

[CrazyInAlabama]

Like Air- I think they wanted them to help open doors with manufacturers.   However, I don't see why Mark made a deal when he wondered if they were just there as an advertisement.    I'm shocked that one of the big companies didn't buy them out.   That buy out could still happen. 

I think that is what should happen with the light device too.   They need to only have a few finishes, and come up with other light shapes that don't look so modern.    I think aiming at the dorm room and rental market should be their focus.  

Edited January 22 by CrazyInAlabama

[Msample]

I think Mark and Lori are in it for the buyout down the road. 

 

I don’t know if it costs more than $1K to call an electrician, but I guarantee it costs more than $95. That said, I thought the battery life was very poor. You’ll either need to charge it daily, or more likely ruin the nice clean look by running a power cord from it to an outlet .

[Kiss my mutt]

I don’t understand the popcorn product. Isn’t popcorn naturally gluten free? So a butter, cheese oil etc. 

[DrSpaceman73]

12 hours ago, Kiss my mutt said:

I don’t understand the popcorn product. Isn’t popcorn naturally gluten free? So a butter, cheese oil etc. 

Yes.  Gluten free is just one of those marketing buzzwords everyone uses now 

 

This water is gluten free!

[DEL901]

1 hour ago, DrSpaceman73 said:

Yes.  Gluten free is just one of those marketing buzzwords everyone uses now 

 

This water is gluten free!

Fat and sugar free too!

[tvfanatic13]

Isn’t the popcorn the same as Pirate’s Booty??

[Kiss my mutt]

I think so. After comparing this, Pirates Booty and Skinny pop (which I buy and like), they look about to be the same except the version on Shark Tank is more expensive. Maybe there is a difference in the kernels that are easier on the teeth?

[DEL901]

8 hours ago, Kiss my mutt said:

I think so. After comparing this, Pirates Booty and Skinny pop (which I buy and like), they look about to be the same except the version on Shark Tank is more expensive. Maybe there is a difference in the kernels that are easier on the teeth?

Didn’t they saw they removed the kernels?

[CrazyInAlabama]

Yes, the kernals are removed.  Like Air is just ground up corn, and it's mixed with the ingredients, and puffed.     Kind of like a Cheeto puff, but other flavors.    They have Cinnamon Bun, Pancake, White Cheddar and Butter flavors.    

[eel2178]

On 1/19/2024 at 7:02 PM, CrazyInAlabama said:

The Duo- an umbrella with two handles.

What is the point? How can having a handle long enough for 2 people to hold on to stop them from fighting over the umbrella?

Also, their claim that there have been no new innovations in how umbrellas are designed is completely untrue. People are constantly hawking their new and improved umbrellas, yet none have been innovative enough to dominate the market. This one won't either. It isn't the new mouse trap. It is fixing something that isn't broken.

[seacliffsal]

I thought the poplights were not very attractive.  And, I wondered if the presenters were being honest when they said they found that more people were interested in buying them at $95 than at a lower price point...

At first they denied there were similar products but later admitted there were similar products but they left adhesive on the wall when taken down.  Well, which is it?  I guess I wasn't as impressed with them as were the Sharks.

[eel2178]

7 hours ago, CrazyInAlabama said:

Yes, the kernals are removed.  Like Air is just ground up corn, and it's mixed with the ingredients, and puffed.     Kind of like a Cheeto puff, but other flavors.  

Isn't the crunch part of the satisfaction of eating popcorn or am I just weird?

(when I buy Cheetos, I always have to get 2 bags: one crunchy and one puffed because I can't make up my mind which I like more)

Edited January 22 by eel2178

[eel2178]

On 1/21/2024 at 8:51 AM, DrSpaceman73 said:

This water is gluten free! 

On 1/21/2024 at 10:34 AM, DEL901 said:

Fat and sugar free too!

Don't forget vegan!

The 4% of the population who are vegan would be insulted and very loud about it.

[eel2178]

On 1/20/2024 at 8:05 AM, tired and hungry said:

Sorry but the Silicone Mat lady's business had a terrible name.

However, I think "Like Air" was even worse?

Don't people feel like suckers if someone convinces them to buy air?

On 1/20/2024 at 8:05 AM, tired and hungry said:

Also what's stopping the baby/toddler from ripping the mat off the table? 

If the baby prefers the texture of the table to the texture of the mat, that is exactly what he is going to do.

[eel2178]

On 1/22/2024 at 3:47 AM, DEL901 said:

Didn’t they saw they removed the kernels?

Even without the kernels, it scares me that they are marketing this as a snack for infants as young as 6 months.

That's a liability issue waiting to happen.

[SoMuchTV]

5 hours ago, eel2178 said:

Even without the kernels, it scares me that they are marketing this as a snack for infants as young as 6 months.

That's a liability issue waiting to happen.

I didn’t catch that, but there are definitely “puff” snacks for babies and toddlers. This didn’t sound all that different. Six months is probably a little young, but it could be a finger food option. 

[Shrek]

17 hours ago, SoMuchTV said:

I didn’t catch that, but there are definitely “puff” snacks for babies and toddlers. This didn’t sound all that different. Six months is probably a little young, but it could be a finger food option. 

There are some I got for the grand daughter last year when she was around 1 that were basically cheetos for babies & she loved them. 

[eel2178]

20 hours ago, SoMuchTV said:

I didn’t catch that, but there are definitely “puff” snacks for babies and toddlers. This didn’t sound all that different. Six months is probably a little young, but it could be a finger food option. 

2 hours ago, Shrek said:

There are some I got for the grand daughter last year when she was around 1 that were basically cheetos for babies & she loved them. 

However, you have to follow the directions.

There was an online article a while back about a toddler who nearly choked to death because her mother didn't read the part on the label that says it has to be used within 5 days of opening the package. Otherwise, it becomes stale and hard and is no different than crunchy Cheetos instead of puffed. 

I don't know if this product would have the same issues. I still don't think I would be willing to give them to a child who wasn't old enough to have molars.

[Sir RaiderDuck OMS]

I ordered some Like Air puff snacks after seeing this ep: The Regular and White Cheddar flavors are OK, but the Pancake and Cinnamon flavors are really good.

[jcbrown]

4 hours ago, Sir RaiderDuck OMS said:

I ordered some Like Air puff snacks after seeing this ep: The Regular and White Cheddar flavors are OK, but the Pancake and Cinnamon flavors are really good.

I fell for it, too, but I thought the regular and cheddar were bad and did not bother to try the others. Perhaps I should give them a shot, but I was looking for salty-crunchy and they did not fit the brief. Thanks for the review!