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'Shark Tank' investor Lori Greiner made a deal so controversial, three Sharks just stormed off the set

Tension reaches an all-time high as the judges of 'Shark Tank' turn against Lori Greiner

In addition to being the haven for budding entrepreneurs, 'Shark Tank' is also a place for contradictory opinions. From judges taking a shot at each other to conflict arising due to differences in opinion, the stage of 'Shark Tank' has witnessed everything. While most of the time our dear sharks can be seen mingling with each other but when it comes to business, the competition becomes cutthroat, with dramatic moments taking center stage. In one such scenerio, Kevin O'Leary, Robert Herjavec, and Mark Cuban walked off due to Lori Greiner, and the reason is the prime example of why 'Shark Tank' is a competitive arena.

It all unfolded when a young entrepreneur from Philadelphia, Christopher Gray, entered the tank with a compelling backstory. Raised by a single mother, Gray had overcome financial hardships and managed to secure an impressive $1.3 million in scholarships, which included a full tuition scholarship to Drexel University. Inspired by his success, Gray created Scholly, an app designed to help other students find and apply for scholarships, as per Soap Central. Gray's goal was to give others the same opportunity he had, and his app had already seen success with 92,000 downloads.

When Gray pitched Scholly, he asked for $40,000 in exchange for 15% equity in the company. The Sharks were intrigued by his story and the app's potential almost immediately. Ignoring the usual questioning round, Greiner made an offer, which was followed by Daymond John. However, the offers from Lori and Daymond created a shift in the dynamic of the set.

Herjavec and Cuban raised concerns about Scholly's scalability and database size, but Greiner dismissed their questions as unnecessary. This led to increasing tensions, especially when Greiner accused Cuban of jealousy. The argument escalated to the point where Herjavec felt he had to leave to avoid saying something harsh to Greiner, as per Looper. Cuban followed, visibly frustrated, with O’Leary close behind. Amid rising tensions, with O'Leary accusing Greiner of turning the show into "Charity Tank" and Cuban pushing for proper due diligence, Gray successfully secured a deal with Greiner and John.

Gray then made a return to 'Shark Tank' in a brief two-minute video, marking his appearance nine years after his initial pitch. His purpose was to update viewers on the company's progress and announce major scholarship initiatives, as per Forbes. Gray shared, "We’re excited to be on the show again. It’s been a long time." Last year, Scholly's key assets were acquired by Sallie Mae (SLM Corp), and the app is now known as Scholly by Sallie.

The update video was filmed at Bayside High School in Queens, NY, Daymond John’s alma mater, where he and Christopher Gray presented $10,000 scholarships to two students, Giselle Rodriquez and Amir Theodile, supported by the Sallie Mae Fund. Donna Vieira, executive VP at Sallie Mae, also revealed a $1 million commitment to the Thurgood Marshall College Fund through the Bridging the Dream Scholarship Program.

The program provides support for students from underserved communities, offering scholarships such as 40 $10,000 awards for high school seniors and 200 $2,500 grants to help students at risk of not completing their degrees due to financial struggles. Gray shared, “Over the years, I watched students fail to graduate because they were $500 or so short.” The Bridging the Dream Scholarship Program will also award 10 $10,000 scholarships to graduate students from underserved communities. This initiative is part of Sallie Mae’s $4 million commitment made in 2020.