'Shark Tank': Sliimey Honey's teen founder sparks bidding war between Kevin O'Leary and Daymond John
LOS ANGELES, CALIFORNIA: Who would have ever thought that a teen entrepreneur selling slime would not only manage to bag a $150K deal on 'Shark Tank' but also spark a bidding war amongst Sharks! This is precisely what Sliimey Honey's founder Mark Lin managed to accomplish on the recently aired episode 8 of 'Shark Tank' Season 14.
The 17-year-old entrepreneur stepped into the tank with an impressive success story of selling "gourmet slime" from his house's basement boasting of having a record sales worth a little over a million dollars! The Sharks were instantly impressed by Mark's success and creativity in cutting down customer acquisition costs by banking on TikTok to get free publicity and new customers. Despite having little to no knowledge of slime, Kevin O'Leary and Daymond John decided to jump the gun and roll out their offers, sparking an intense bidding war with a lot of back and forth between the teen entrepreneur and the Sharks.
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Kevin made the first offer after all his fellow Sharks decided to sit out on the deal. Mr. Wonderful claimed that he would make Wonderful Slime a household name by making an offer of a $150,000 investment in exchange for a 30% stake in the business. Daymond followed Mr. Wonderful's footsteps and offered $150,000 for a 25% equity instead. But Mark wasn't ready to hand over so much equity, so he decided to make a counteroffer by asking the Sharks if they would be prepared to increase their investment amount to $200,000 for a 25% stake instead. Neither Kevin nor Daymond liked Mark's counteroffer and politely declined. They pointed out that they weren't keen on shelling out more cash but were instead open to negotiating over the equity.
So after careful consideration, Mark made his final counteroffer of $150,000 for a 20% stake instead. Boh Dyamond and Kevin accepted the counteroffer, leaving Mark spoilt for choice. After some deliberation, Mark decided to close the deal with Daymond instead of Kevin. He explained how Kevin's difficulty with playing with the slime made him choose Daymond over Kevin as his Shark!
'Shark Tank' season 14 airs every Friday at 8/7c on ABC. Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.