'Shark Tank' investors hated this founder's idea — they still ended up offering him a $50,000 deal
'Shark Tank' judges can make some unpredictable decisions at times. During an episode of the ABC business show that aired in October 2024, an aspiring entrepreneur named Jonathan Dusing, presented his innovative snow product, Snow in Seconds to an esteemed panel of Sharks including Mark Cuban, Barbara Corcoran, Kevin O'Leary, Lori Greiner, and Daymond John. For the unversed, Snow in Seconds can help you create an instant snowy landscape during the Holidays.
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Following his pitch on 'Shark Tank' Season 16 Episode 8, Jonathan, the founder of Snow in Seconds didn't get a great response from the Sharks. In the episode, Jonathan who hails from "the frozen Tundra" region of Minnesota was seeking $50,000 for a 10 percent equity stake in his company, as per Market Realist. At that point, he mentioned that his main goal was to bring the joy of snow to those who didn't reside in cold regions and failed to experience snow during the Holiday season. As per the company's official website, it provides products that help you to make instant snow at home with the help of dry, powdered polymers. These polymers simply turn to snow after adding water. Not only these polymers become fluffy like the snow but they also feel shockingly cold.
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Then, the Sharks weren't too impressed by Jonathan's company Snow in Seconds, and didn't show much interest in it. Lori Greiner, Kevin O’Leary, and Mark Cuban were the first ones who refused to invest in the artificial snow product. Speaking of the product, Lori simply said, “It is so seasonal and so specific" and mentioned that it wasn't broad enough for her to come on board as an investor. Soon after, Daymond John also echoed the same sentiments and decided not to invest in the business venture.
On the other hand, Kevin shared some harsh feedback for the snow product. "Sometimes a deal comes in that I really, really hate and this is top of the list for this season," he shared, according to CNBC. He also talked about the sales and referred to the figures as "irrelevant." Along with this, he also stated that the business satisfied the needs of a small customer base and the revenue growth has been very slow over the past 15 years. “I hate the fact that it distracts you from a real business. This deal sucks," he further added.
Despite all the harsh criticism from the Sharks, the Snow in Seconds CEO Jonathan managed to secure an investment in his kitty. Barbara Corcoran was the only Shark who made an offer for Snow in Seconds. Then, she offered $50k for one-third of his company. Barbara who had some concerns about the profit of the business said, "The business has great upside potential.” After hearing the offer, Jonathan tried to negotiate with Barbara and asked her to lower her percentage from 33% to 25% but eventually accepted the offer. Kevin was surprised by the offer and quipped, “Jon, the fact that you got a deal is a Christmas miracle."
