'Shark Tank': Robert Herjavec withdraws offer from Calm Strips before making a deal
Michael Malkin, the founder of Calm Strips, has dealt with social anxiety and situational anxiety his entire life. So it was essential for him to find a stimulant that could ground him in these situations. And thus, out of need, Calm Strips came into being. The one-of-a-kind sensory adhesive sticker, Clam Strips, helps regulate restless energy and promote focus.
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Malkin, the founder of Calm Strips, walked in on 'Shark Tank' with Luce Fuller, the administrative director of Calm Strips, hoping to get $250,000 for 10%. With a less than 1% return rate and $2.5 million in sales. The brand has even made $400,000 in the last three months. The brand is even in 3,000 schools, with doctors and Special Ed teachers seeing the value in this product. While Daymond didn't quite get the purpose, Malkin explained that 45 million Americans deal with anxiety.
Seeing that he has a son with autism, Malkin's goal was not money but to help those who need a product like Calm Strips. Robert connected with the product immediately, seeing that his family does have a few autistic members. He made an offer for $250k for 35%. That's when Kevin jumped in, where instead of equity, he got $2.50 per unit until he got his money back, followed by a %1.50 perpetuity.
Robert was quick to jump back in and make a similar offer, however, he would withdraw once he made $750,000. Malkin turned to Lori to see if she had an offer, but that irked Robert, who took back his proposal. Malkin immediately circled back and asked Robert for the same offer, saying that he would take it in a heartbeat and he did just that.
Fans online proved that there was a market for Calm Strips. "I think #CalmStrips needs to market to senior living/memory care communities also! #SensoryTherapy #SharkTank" tweeted a fan. "LOVED seeing #CalmStrips on #SharkTank. I actually said out loud: hey, I have some of those! Would absolutely recommend to anyone. I have some on my desk in my office &use them when I’m feeling figdity or stressed. they are restickable and pretty inconspicuous too. great product" added another.
LOVED seeing #CalmStrips on #SharkTank. I actually said out loud: hey, I have some of those!— a ghostly ghost (@OhBoyHeresKate) January 29, 2022
Would absolutely recommend to anyone. I have some on my desk in my office &use them when I’m feeling figdity or stressed. they are restickable and pretty inconspicuous too. great product
'Shark Tank' Season 13 Episode 13 airs on ABC on January 218, 2022, at 8 pm ET. Catch the latest episode featuring products like Calm Strips, OverEZ Chicken Coop, Kettle Gryp and Blowzee.
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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