Shark Tank

Season 1 Episode 1

Episode 101

1
Aired Friday 9:00 PM Aug 09, 2009 on ABC

Episode Recap

The episode begins with Tod Wilson, an owner of a pie store/factory located in New Jersey. He expanded too quickly last time, and made some bad decisions. On his second time around, he plans to take it more slowly. He came to the tank, looking for a loan to grow his business, a loan he can't get anywhere else since he already has three bank loans out. He begins by walking in with his mascot, Mr. Pie Man, and serving pies. He is seeking $460k for a 10% stake. He boasts $850,000 in sales of the last FY. However, Robert feels that he will expand too quickly and make the same mistakes he made last time, for that, Robert is out. Kevin O. feels that Tod is marketing too many types of pie, when his main pie, "Sweet Potato" covers about 80% of his sales. He also feels that unnecessary expenses, such as the mascot, Mr. Pie Man, are just creating more costs. For that, Kevin O. is out. Kevin H. feels that the offer was too risky or not in favor of return, so he is out as well. Barbra likes the concept, but will only payout half ($130,000) of the investment for a 20% return. Daymond will support the other half, but wants to raise it up to 50% (to be split between the two). After a long time, a hesitant "yes" comes from Tod and a deal is made.

Darrin Johnson is next into the tank, explaining his idea of the Ionic Ear, an implanted device acting much like Bluetooth. He is looking for is $1,000,000 for a 15% stake. After hearing about the procedure of the surgery required for this device, Daymond is disturbed and "freaked out", he chooses to be out. Soon after, Robert is out. Barbara is also very shocked and disturbed, she is out. Within a short time, the last two sharks are also out.

Next going into the tank is Kevin Flannery from WISPOTS, a device that would be placed in Doctors Office's. He is currently the CEO of that home-grown business. He is currently suffering financial problems, affecting both his business, and his family. His product, WISPOTS, would allow waiting room patients to pick up a handheld device to check email, read news, and more with the cost of just a few advertisements. He is seeking $1,200,000 for a 10% return. This at first shocks the sharks. Kevin O. feels that Kevin's money has been spent without return and fears that will happen to his investment. He is out. Kevin H. feels that people will not pick that up just to look at ads, so he is out. Barbara feels that he has risked too much and needs to get his company and life straightened out. She is out. Daymond feels that he is just too much in debt, he is out. Robert is conflicted though, he tells him to always save his money, and put his family first, and then he reveals that he is out.

Tiffany Krumins is coming next with her product, Emmy the Elephant. She wants $50k for a 15% return. Her product is a hand- elephant with a long trunk, designed for giving small children oral medicine. In her point, the elephant hides the scary and hated process of giving kids medicine with a medicine dropper. Four of the sharks feel that the idea is a product and not a business, and some also feel that it would be unprofitable. However, Barbara feels that it is a very good product and wants to invest in it. However, she wants to change the deal, to make it more returnable in the mid-term. She wants to counter the offer to $50k with a 55% return. Tiffany takes the offer and looks forward to the business partnership with Barbara.

Next up is Omar Soliman and Nick Friedman, from the already successful company, College Hunks Hauling Junk, a junk-removal company. They are asking for an investment for their new company, College Foxes Packing Boxes. They are seeking $250k for a 25% return. The sharks are already on frenzy about the major fact, they are investing in a company that may or may not take off, while they cant have any return in the already successful company. The sharks demand that they exit, and come back in with a new offer for both companies combined. The men have problems doing that, saying that they dont want HUNKS as part of the deal, because they started that company from scratch and dont want that to be used as part of the deal. Offers keep getting exchanged from one side of the table to the other. Kevin O. is finally upset of the constant arguing and is out. Daymond is uncomfortable with the business because he would be profiting off of young girls, and would be concerned about their safety. For that, Daymond is out. KEVIN H. feels that they are valuing the businesses on a projected scale, when he wants the value of it now. He is out. Barbara explains that she is uncomfortable with paying a steep amount that would come back only in the long-term. She is out. Robert makes a great counter offer. He wants to give $250k for FOXES and get 50% in return; however, he also wants 10% of HUNKS, just as collateral. The men conference the deal and then reject it, saying that HUNKS was started from nothing and that taking anything from that is not acceptable. They dont take the deal and leave.
More
Less
Saturday
No results found.
Sunday
No results found.
Monday
8:00pm
CNBC