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Float N Grill bags $200,000 deal from Daniel Lubetzky, but 'Shark Tank' fans wonder who will buy 'wacky product'

'Nobody will buy this float and grill thing...like come on lol #SharkTank,' one fan of the show pointed out as many were skeptical about the product

ABC's award-winning show 'Shark Tank' is undoubtedly a great platform for entrepreneurs to pitch their unique product or service to the celebrity investors known as Sharks. This is to not only raise capital for their venture but also to get free publicity for their brand. Although most products and services presented on the show are unique and innovative, they don't necessarily appeal to the fans all the time.

For instance, the latest episode of 'Shark Tank' featured a product called Float N Grill, which is essentially a griller that can be used in water due its floating ability. The Sharks, especially Daniel Lubetzky, absolutely loved the idea behind the product, although his fellow Sharks (especially Kevin O'Leary) and fans had their doubts and questions about the need for the product in the first place. To everybody's surprise, Lubetzky even closed a $200,000 deal with Mikey Bashawaty and Jeremy Quillico, the founders of Float N Grill.

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The duo launched their business in 2018, and their product instantly went viral on Facebook. But unfortunately, despite their viral video, they couldn't convert their popularity into sales as the duo revealed that they only made $19,000 in sales since the brand's inception. The duo came in seeking $200K for a 20 per cent stake in their company. On hearing the low sales number, the sharks instantly backed out from making an offer, except for Lubetzky, who saw potential in the product.

But Lubetzky wasn't ready to simply hand out $200,000. He wanted to make some changes to the offer, so he came up with a counter-offer of $200,000 for 50 per cent stake. Understandably, the duo felt that giving up half of their company's stake was too much to just get a Shark onboard. They also revealed that they already had two other investors who already own a small percentage of the company, so they could not give Lubetzky the 50 per cent stake he wanted. But instead, they made him a counter-offer of $100,000 +$100,000 as a loan for a 20 per cent stake, and a royalty of $2 per unit sold until the loan was repaid. Lubetzky appreciated their enthusiasm to close the deal, so he came up with his final counter-offer of $100K + $100K as a loan for 22.5 per cent stake and 50 per cent of any licensing deals. The duo happily accepted the offer and left the tank grinning from ear to ear.

Fans were, however, skeptical about the product. A fan tweeted, "A floating grill? That’s a deal? That’s a thing? #SharkTank." Another fan wrote, "Okay, I was wrong. This floating grill is the wacky product. #SharkTank." Another said, "Nobody will buy this float and grill thing...like come on lol #SharkTank."

Another fan questioned, "For those who are maybe watching #SharkTank now...WTF is a FLOAT N’ GRILL?" ANother said, "Floating grill. I am thinking all the white people lining up #SharkTank."

We can't wait to watch an update on Float N Grill to see how the deal panned out. 'Shark Tank' Season 12 airs every Friday at 8/7c only 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.