Shark Tank Recap: Vade Nutrition, LockStrap, BottleKeeper and Nui Cookies

Jennifer Weyant — November 26, 2018

— November 26, 2018

Longtime Sharks Mark Cuban, Kevin O’Leary, Lori Greiner, and Barbara Corcoran were joined in the Shark Tank tonight by Alex Rodriguez to evaluate four pitches from businesses looking to land a strategic partner and investor.

Vade Nutrition Makes a Deal with Mark Cuban and Alex Rodriguez

Husband and wife duo Joe and Megan Johnson entered the Shark Tank seeking$ 250,000 for 10% equity in their company, Vade Nutrition. Their flagship product is a dissolvable pouch of protein powder that can easily be transported anywhere and used on the go to create a protein shake. The outer film is made of food-grade materials that dissolve in water to create the perfect shake. They currently have a utility patent on the technology behind the product: a consumable product wrapped in consumable packaging. This opens the door for other potential product ideas which immediately have the Sharks interested.

The product has sold $ 80,000 in online sales through their website and Amazon. They are currently struggling with marketing and customer acquisition as well as finding reputable business partners since they have recently been burned by a manufacturer that they had partnered with. Mark Cuban is the first Shark to make an offer. He proposes a $ 350,000 investment for 20% of the company. Lori quickly comes in and starts to weigh the pros and cons of the business when Alex Rodriguez cuts her off and explains how this product is right in his wheelhouse. He offers $ 700,000 for 40% if he and Mark can go in together on the investment. Mark agrees to the offer and Vade Nutrition accepts their deal.

LockStrap Fails to Secure a Deal

Jeff Cranny, inventor of the LockStrap enters the tank asking for $ 200,000 for a 20% share of his company, LockStrap. The LockStrap is a stainless steel cable, protected in a fabric outer layer that can secure valuables of any size and is almost impossible to cut. Jeff does have a design patent on this and did secure a deal with Home Depot for this product, however, there have been some issues with the manufacturing and design when the product was outsourced to be able to meet the supply demands set forth by Home Depot.

This causes a very big concern with the Sharks because not only were there manufacturing issues with the product, but Jeff seemed disinterested and hands-off about his product which struck the Sharks as odd. The Sharks kept attempting to get data out of him, such as how well the product is selling at Home Depot, and he was very evasive before admitting that the sales are not great.

Because of his lack of enthusiasm for his product, his ability to take ownership of the physical product and it’s design, low sales and lack of consumer interest in the product, the Sharks all decline to make LockStraps an offer.

BottleKeeper Accepts an Offer From Mark Cuban and Lori Greiner

Shark Tank Recap: Vade Nutrition, LockStrap, BottleKeeper and Nui Cookies | DeviceDaily.com

Free-Photos / Pixabay

Cousins Adam Callinan and Matt Campbell came to the Sharks in hopes of securing a $ 1 million deal in exchange for 5% of their company, BottleKeeper. This raised more than a few eyebrows in the Shark Tank as the monetary ask is large in comparison with the share of the company. Their product solves the problem of how to keep a bottle of beer both cool and protected from falls. The BottleKeeper is a stainless steel bottle holder that is insulated with neoprene and also has a built-in bottle opener.

The Sharks are interested in the product but are concerned about the $ 20 million valuation of the company. Adam and Matt share that in the 10 days leading up to the show alone, they sold $ 1 million and over three years they have sold $ 20 million. One of the major issues that BottleKeeper is facing, is that because they have a patent, they are spending a lot of time in legal IP enforcement to shut down competitive products that are popping up in the market. They also are struggling with broader marketing ideas as they currently are using Facebook as their primary source for marketing their product.

Although negotiations were more intense than they anticipated, BottleKeeper ultimately turns down offers from both Kevin and Alex to accept a deal from Mark Cuban and Lori Greiner for a $ 1 million for 5% stake in their company, plus a royalty of $ 1.50 per unit until $ 2 million is recouped.

Nui Cookies Make a Deal With Alex Rodriguez

Nui Cookie founder Kristoffer Quiaoit and Victor Macias enter the Shark Tank in hopes of receiving a $ 300,000 investment for 10% equity in their company. Their product is a low carb cookie with only 1 gram of sugar that helps to satisfy the sweet tooth of those on Keto diet. Nui Cookie has sold over $ 1.1 million in the last month as they are utilizing social influencers to help them market. They have recently partnered with a co-packer and are hoping to increase their gross margins but they feel as though they need strategic partner’s help to be able to do that.

Offers are given from Barbara Corcoran, Kevin O’Leary and Alex Rodriguez. Both Barbara and Kevin are seeking royalties on the products until their investments are recouped, whereas Alex offers them $ 300,000 for 25% of their company. There is a lot of confrontation between the Sharks, but Kritoffer and Victor strike a deal with Alex Rodriguez.

What was your favorite business on Shark Tank tonight? How did you feel about the business investments? Leave your comments below!

Shark Tank airs Sunday at 9:00 EST on ABC.

Business & Finance Articles on Business 2 Community

Author: Jennifer Weyant

View full profile ›

(386)