I don’t know how you’re doing now, but it’s been several years & I haven’t heard of your product until watching an episode of Shark Tank tonight. Why would you expect them to pay you both to work for you & for a hypothetical value that their connections & expertise would play a massive role in creating? You presented no real tangible scale strategy & your numbers, as they were, made the 10M valuation absolutely offensive to anyone with even an elementary business sense/acumen. The problem was (& why I believe you should’ve taken Robert’s deal) you were valuing its potential AFTER a shark hops on board puts in their hard work to help it get there.
#Islide sharktank full#
They laughed and said, “you better not have taken that deal.” A full level of relief went through me.Īnd the rest is history.check out some of our Best Sellers here. Talk about going from being the most stressed to utter relief.
The best feeling in the world was when I called the office and told them the story. When I called and told the team, I had no idea how they were going to take the news of no deal. I knew at that exact moment we were going to be alright, both in saying no and the future of the company. We have a good friend and investor who did exactly this for a living. As I inched closer to saying yes, it all stopped. He really wanted me to reconsider and told me that we needed him to get us all these really difficult licenses if we wanted to grow. At the time, I thought that was the only way to show the world proof. I wanted to do it to validate myself and the hard work of my team that brought us to this moment.
#Islide sharktank tv#
Now, I knew this going into the show but when it happens on TV and there is no going back, all your practice goes out the window. Robert then countered with $500k for 20%. Robert wanted something cool and I think footwear intrigued him as well. I fought through a few of those questions with Kevin and Lori going out. I knew valuation was going to be an issue. They each took them out of the box and a few tried them on, walked around in them, and commented on how comfy they were to wear. We had a pair of slides personalized for each Shark. I passed out the samples to each shark and they loved them. I thought the opening pitch went really well. "Hello Sharks, my name is." And we are off and running. No one says anything and there are 400 cameras everywhere.įinally, I hear someone yell “3…. Here I am looking at the Sharks and the Sharks are staring back at me. They have you stand in one spot for about 30 seconds to set the moment. It was surreal and crazy walking down to the stage. If they didn't go in together, then I was going to ask them to as part the deal. I went on Shark Tank thinking Daymond and Mark were going to both fall in love with our customized slide sandals and decide to go in together.
Barbara Corcoran was a true shark, Daymond John wanted to invest in cool even though he said he didn't and Mark Cuban, well I could never figure out Mark. Kevin O'Leary is the guy who loves giving everyone a hard time. I also THOUGHT I knew WHY each deal was done or not done. I knew every startup that went on the show and pitched and knew the outcomes. The stress of the moment came from having watched every episode on for the first 7 seasons of Shark Tank. Yes, this includes any test that I have ever taken for school. In March 2021, First Defense Nasal Screens joined the battle against COVID-19 by opening up distribution worldwide and offering discounts to both customers and distributors to get the product into as many hands as possible.Going on Shark Tank in September 2016 was far and away the most stressed I have ever been. In 2015, Moore told GOBankingRates that First Defense Nasal Screens was a debt-free, multimillion-dollar company that was still privately owned and had licensing and distribution contracts all over the world. Turning down the $4 million “Shark Tank” money doesn’t seem to have hurt the company. Ultimately, Moore decided not to go through with the $4 million offer, but he did accept a smaller deal of $750,000 for a 30% stake and a 10 percent perpetual royalty - along with getting season tickets to the Dallas Mavericks. With an $8 million overseas contract in hand, he impressed several sharks with his potential and fielded offers that included a $4 million bid. Joseph Moore appeared on the second season of “Shark Tank,” seeking $500,000 for 10% of his air filter company, First Defense Nasal Screens.
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