Additional Coverage:
- ‘Shark Tank’ contestants were convinced Mark Cuban was out — then he offered a life-changing deal (marketrealist.com)
Nail-biting “Shark Tank” Appearance Ends with Surprise Mark Cuban Deal
Entrepreneurs Nate Barbera and Desiree Stolar entered the “Shark Tank” seeking $150,000 for a 10% stake in their company, Unshrinkit, a unique solution designed to restore shrunken wool clothing to its original size. Despite demonstrating the product’s effectiveness with a revitalized cashmere sweater and projecting $1.5 million in future sales, the pair faced skepticism from the Sharks.
Lori Greiner expressed doubts about market size, while Kevin O’Leary, though intrigued, proposed a partnership exceeding the entrepreneurs’ desired equity share. Daymond John offered $150,000 for 25% contingent on a licensing deal, a proposition that didn’t align with the founders’ growth strategy.
Just as hope dwindled, Mark Cuban, often a tough investor to sway, presented a lifeline. Recognizing the entrepreneurs’ savvy and well-developed plan, Cuban offered the requested $150,000 for 15% equity.
A visibly relieved Barbera and Stolar quickly accepted. “I thought Mark was out,” Barbera remarked after the deal, expressing disbelief and excitement at securing their ideal arrangement.