HOME / ENTERTAINMENT / TV

'Shark Tank' Season 14: Daniel slams Lori for 75 cent royalty offer to Lavabox, says it isn't 'substantial enough'

Josh presented the Sharks with his masterwork 'LavaBox' - a portable option that removes the worry of starting woodland fires when camping

LOS ANGELES, CALIFORNIA: LavaBox has scored big on the March 31 episode of 'Shark Tank' after the business pitch got Sharks fighting each other. Even though the company walked away with a fat deal with Shark Lori Greiner, fellow Shark Daniel Lubetzky couldn't hold back his displeasure in the end deal.

According to the US Forest Service, people are responsible for nine out of ten fires. A simple error in starting a bonfire can result in hundreds of fatalities. For the same reason, most campgrounds in the United States have fire limitations. However, any outdoor enthusiast will tell you that a camp does not feel like a camp without smores. Entrepreneur Josh Thurmond tried to address the issue of bonfire hazards by creating the LavaBox, a product that would confine the fire and be an ideal match for hikers. He pitched the product on Season 14, Episode 18 of ABC's 'Shark Tank'. With such an interesting product on display, Sharks got intrigued and jumped on, making offers. So, who ultimately got the deal?

RELATED ARTICLES

When will 'Shark Tank' Season 14 Episode 19 air? Entrepreneurs bring Milkify, Cincha and more

Where is No Limbits now? Company earns $15,000 monthly revenue after 'Shark Tank' debut

Josh gets all Shark on board

Josh introduced his master creation 'LavaBox' to the panel of Sharks. It is a portable option that allows all campers to enjoy camping without the worry of starting woodland fires. The device is intended to operate on propane, which is readily available. You don't have to go through the hassle of collecting fuel or coping with ashes and smoke while using it. Each variant is compatible with a normal 3/8 flare, and the whole device is simple to assemble.

Josh walks in, seeking $200,000 for 10% of Lavabox. Their most popular offering on the internet costs $195, and about $29 lands for him. In terms of figures, their first 18 months' revenue was $610k, with a surplus of $290. He hopes to make $1.2 million this year. Lavabox has benefited greatly from direct-to-customer marketing, as the company has grown solely through word-of-mouth.

Shark Kevin O'Leary is the first to make a bid. He offered $200k in exchange for 20%. Shark Daymond John asks if Josh is looking for a Shark just for the money. Josh informs he remains sold out all the time, and he is looking to get into the big box stores.

Josh admits that he hasn't yet raised any funds. After 8 months, they are going to be revenue positive. He is searching for someone to whom he can turn when he is perplexed. Shark Daymond enjoys Josh's Big Box concept and agrees to equal Shark Kevin's offer. Shark Lori adds that she doesn't believe he needs to be in many retail shops, but she would like to visit Best Bro and Camping World. She offers to be the 1 o'clock at night business partner and offers $200k for 15% but would like to receive a royalty of 75 cents per unit until the $200k is paid back, at which point the royalty will disappear, and only the equity will remain. Josh asks if she can go down to 12%. Lori says she might at 12.5% while Shark Daymond matches Lori's initial offer but no royalty. Shark Kevin tries to make it more interesting by going 10% with no royalty. Josh in the end goes with Lori.

Shark Daniel slams Shark Lori's royalty offer

As soon as Josh's segment was finished, Shark Daniel took to Twitter to express his displeasure, ".@lorigreiner, if you're going to pull a @kevinolearytv & ask for a royalty as part of your @lavaboxfire offer, it should be substantial enough to be worth your while. Lavabox will need to sell 266K units for you to get your $ back given how small your royalty ask is! #SharkTank."

During the pitch, Shark Daniel chose to interject when Josh was being convinced by Shark Lori to get into the royalty deal. He asked why would it matter to her given the company is so profitable. 

ome fans felt Josh has made a wrong choice, "Terrible deal 200k for 10% for chef wonderful was the right choice. @kevinolearytv #SharkTank." Another mocked, "@LoriGreiner obviously went to the @kevinolearytv school of royalties. #SharkTank."

'Shark Tank' Season 14 airs every Friday at 8/7c on ABC. Missed an episode? Have you 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.

This article contains remarks made on the Internet by individual people and organizations. MEAWW cannot confirm them independently and does not support claims or opinions being made online.