'Shark Tank': Did Mark Cuban snub Lori Greiner over $600,000 deal with TrophySmack? Fans say founders 'missed out'
Occasionally on 'Shark Tank', a pitch presented in the tank is so good that the sharks end up fighting among each other to secure the deal. On the recently aired episode of ABC's hit entrepreneurial show, Matt Walsh and Dax Holt, the founders of 'TrophySmack', walked into the Tank seeking an investment of $600K for an 8% stake in their completely customizable trophies company.
The duo presented their pitch in a succinct manner, while also highlighting the gap in the market for unique and customizable trophies. They explained to the sharks that although their sales were pretty good and things were running smoothly for the duo, they were planning on expanding their operations to cater to other sectors such as arena sports and corporates, and needed the help of sharks not just for finances but also for contacts and mentorship. Matt's background in sales and logistics managed to impress sharks, as they realized that he was able to plan and foresee things that many of their rivals wouldn't be able to anticipate.
Considering everything about their company and pitch seemed impressive, Kevin instantly jumped in with an offer. He agreed to give the duo the $600K they were asking for, but he wanted a 25% stake in their company. Dax and Matt didn't look entirely pleased with it, so they continued to sell their product harder by talking about the gap in the market and explaining how TrophySmack could address it. Eventually, the sharks realized that the duo might have come into the tank with their eyes set on Mark. So, the sharks ask them if they came in for getting an offer from Mark. Although they deny it, the sharks seemed convinced about it and asked Mark how he felt about the pitch.
But before Mark could answer, Lori expressed her interest in investing in the company and was about to share her offer, when Mark quickly swooped in and presented Dax and Matt with an offer of $600K in return for a 17% stake in the company. In a typical Mark Cuban fashion he demanded the duo to say yes or no immediately. As Lori was still trying to make an offer, Mark gave the entrepreneurs an ultimatum that if they heard Lori's offer then his would be off the table. The duo was left with no choice but to accept Mark's offer, while Lori looked puzzled. She later claimed that she was going to make a better offer, while Mark was gloating over securing yet another deal.
Fans felt that Lori should have acted quickly and presented her offer instead of waiting until the last minute and getting snubbed by Mark. A fan wrote, ".@mcuban just pulled another @mcuban on @LoriGreiner! Lori! You need to get your offers in earlier. I feel like you always sit and wait and come in at the end. I think the guys totally missed out because you and Mark would have been great partners on this! #SharkTank." Another said, "The angle I shared a moment ago. I LOVE that deal. @mcuban= in & out. @LoriGreiner offers .......& Mark comes back. #SharkTank & at 17+%.." Another fan expressed that it was the TrophySmack founders' loss for missing out on Lori's offer. "@LoriGreiner LORI they missed out itβs their loss I would have listened and taken yours the same way they did w Mark so #SharkTank."
.@mcuban just pulled another @mcuban on @LoriGreiner! Lori! You need to get your offers in earlier. I feel like you always sit and wait and come in at the end.
β Digital Megaphone (@digimegaphone) January 9, 2021
I think the guys totally missed out because you and Mark would have been great partners on this! #SharkTank π¦
I guess I'm one of those said guys. @kevinolearytv just gave the angle I shared a moment ago. I LOVE that deal. @mcuban= in & out. @LoriGreiner offers .......& Mark comes back. #SharkTank & at 17+%. https://t.co/MI13f9C7Zt
β John Duncan (@emptyplateadv) January 9, 2021
@LoriGreiner LORI they missed out itβs their loss I would have listened and taken yours the same way they did w Mark soπππΌββοΈ #SharkTank
β Callie (@calliejanelle) January 9, 2021
'Shark Tank' Season 12 airs every Friday at 8/7c only on ABC.