'Shark Tank': How Kevin O'Leary stole $200K deal with Prime 6 Charcoal from 'professional griller' Daymond John
Sometimes a pitch is so good that the sharks on ' Shark Tank' get very competitive to secure a deal. We witnessed things heating up between sharks Kevin O'Leary and Daymond John on the latest episode of the hit entrepreneurial show. Husband and wife duo Oron and Riki Franco entered the tank to pitch their eco-friendly charcoal that will change a person's grilling game forever.
Oron and Riki pitched their product, Prime 6 Charcoal, a cylindrical shaped, friendly, and sustainable charcoal tube that can be used in place of traditional charcoal blocks. Riki explained how despite grilling being a fun outdoor activity, it is an extremely work-intense activity. She pointed out the time spent babysitting the fire so that the grilling machine isn't overheated or the food is charred, and the clean-up that is required after every using the grill. Considering all these factors, Oron and Riki came up with charcoal that is reusable and leaves little to no residue, thus eliminating the lengthy cleanup process. They explained that their charcoal was made of sawdust that's compressed in high pressure to create charcoal.
They came in seeking $200,000 for a 10% stake in their company. The sharks loved the couple's pitch, but Mark Cuban and Lori Greiner had to back out from making a deal as it would create a conflict of interest for them with their other investment Instafire. Blake Mycoskie too backed out as he didn't share the same passion for grilling.
Finally, it boiled down to Kevin and Daymond. Kevin pointed out his interest in cooking and gave an offer of $200K for a 25% stake in the company. While the couple was pondering over Kevin's offer, Daymond too jumped in and pitched the same offer, but shared that he was a "professional griller", and loved grilling. Kevin and Daymond then engaged in playful banter about who the couple should pick. After discussing amongst themselves, they decided to take up Kevin's offer, leaving Daymond surprised.
Kevin was very happy with the deal and declared it as his best deal on the show. We think beating Daymond to get the deal might have just sweetened it a bit more for Mr. Wonderful.
'Shark Tank' Season 12 airs every Friday at 8/7c only on ABC.