'Shark Tank': ootBox thanks Kevin O'Leary for negotiating deal with Barbara Corcoran
While working from home has been a blessing for some, it has been a nightmare for others. Lack of space, no access to quiet areas, the list goes on. But that's where ootBox steps in -- the company recycles old shipping containers, creating a room to suit your needs!
Will ootBox be able to impress Mark Cuban, Barbara Corcoran, Lori Greiner, Kevin O'Leary and Daniel Lubetzky? Here's what happened during their pitch.
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Robbie Friedman and Allison Zofan were hoping to get a $300k deal for 5% equity in their company. Seeing that ootBox can be leased and sold, it was a shocker to the Sharks that each ootBox retailed for $20,500. The company had made $950,000 in sales so far and raised $870,000 by giving up 30% of the company. All the sharks backed out when it came down to it, except for Kevin and Barbara. Kevin made them an offer for $300k for 5% along with a royalty deal of $1000 per unit sold until he made $600k. Barbara stepped in and offered them a deal for 20% equity. Just to push her buttons, Kevin made an offer for 15%, no royalty. Robbie then asked if Barbara would consider 7% with a loan aspect. Barbara came down to 10% instead. However, to push her even more, Kevin swooped in with 9% for $300k. With two offers on the table, Robbie picked Barbara and later even thanked Kevin for technically doing all the negotiations.
Fans were amused by the whole deal. "Congrats @GetOotBox. Smart move getting Mr. Wonderful to act as your agent on this deal. #SharkTank" tweeted a fan. "Sometimes Sharks are the best negotiators for the presenting entrepreneurs! #SharkTank" added another. "Congrats on your deal with @BarbaraCorcoran. She's an amazing partner for y'all. Good luck. Y'all got this. @ABCSharkTank #SharkTank #OotBox" said a fan.
Congrats @GetOotBox. Smart move getting Mr. Wonderful to act as your agent on this deal. #SharkTank
— Phil Lemos (@Phil_Lemos) March 19, 2022
Sometimes Sharks are the best negotiators for the presenting entrepreneurs! 🤯 #SharkTank
— Ryan Bartholomee (@RyanBartholomee) March 19, 2022
Congrats on your deal with @BarbaraCorcoran. She’s an amazing partner for y’all. Good luck. Y’all got this. @ABCSharkTank #SharkTank #OotBox
— John G (@JohnG500) March 19, 2022
Looks like fans weren't the only ones who found the whole ordeal amusing. ".@kevinolearytv better watch it with @barbaracorcoran before she locks him in an @getootbox! #SharkTank" joked guest shark Daniel Lubetzky. "Sharks ganging up on me to bring down my stake in a potential company really drives me nuts. But when the Sharks do it to each other, it cracks me up! #GetOotBox #SharkTank" he added.
.@kevinolearytv better watch it with @barbaracorcoran before she locks him in an @getootbox! #SharkTank pic.twitter.com/33ErCWrQHC
— Daniel Lubetzky (@DanielLubetzky) March 19, 2022
Sharks ganging up on me to bring down my stake in a potential company really drives me nuts. But when the Sharks do it to each other, it cracks me up! #GetOotBox #SharkTank
— Daniel Lubetzky (@DanielLubetzky) March 19, 2022
'Shark Tank' Season 13 Episode 16 airs on ABC on March 18, 2022, at 8 pm ET. Catch the latest episode featuring products like Do Amore, Oot Box, PrepDeck and Sunflow.
Missed an episode? 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.
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