'Shark Tank': How did Robert Herjavec save the Auro Bora entrepreneurs from Kevin O'Leary and his misery?
In nearly every other episode of 'ABC's hit entrepreneurial reality show 'Shark Tank', we see at least one pitch for a beverage brand. Unfortunately, the sharks aren't very keen on investing their money into the beverage brands due to the intense competition that exists in the segment. Yet, the hopeful entrepreneurs continue to enter the tank with hopes of securing an investment and mentorship from the sharks to grow their brand.
The latest episode of 'Shark Tank' was no different. A husband and wife duo from San Francisco, California — Paul and Madeline Voge — stepped into the tank to pitch for their flavored sparkling water brand, Aura Bora. These uniquely flavored water cans boast of having zero sugar, and only natural flavors from herbal extracts, fruits, and flowers in them. The couple was seeking $150k for a 5 percent stake in their company.
Mark Cuban, Lori Greiner and Daniel Lubetzky chose to not make any offer for various reasons, ranging from not being passionate about the product to the intense amount of work that would go into addressing the competition in the market.
Despite criticizing the couple for coming in with a beverage pitch, Kevin O'Leary decided to make them an offer. Kevin revealed that he loves being miserable, so he decided to add a beverage company to his investment portfolio. He made an offer of $150k for a 5 percent stake and a royalty of 5 cents per can sold until $300k is paid off.
The other sharks couldn't stop laughing at the horrible offer that Kevin made, and seconded that he indeed was a miserable person. Paul and Madeline didn't seem very pleased with Kevin's offer and were almost ready to walk out of the tank empty-handed when Robert Herjavec jumped in and declared that he loved the product, and would make some big changes to the way the couple was currently doing things to make their business successful.
He then made an offer of $150,000 for a 10 percent stake. The couple made a counteroffer to Robert for $200,000 in return for a 10 percent stake in the company. Robert agreed to a $200k investment but insisted on getting a 15 percent stake in the company. Paul tried persuading Robert to bring it down to 12 percent. But Robert refused and finally, the couple decided to take up the offer and began to celebrate their new deal. Robert swooped in and saved the entrepreneurs from Kevin and his "miserable" offer.
'Shark Tank' Season 12 airs every Friday at 8/7c only on ABC.