'Shark Tank': Banana Loca bags $250,000 deal with Mark Cuban and Kevin O'Leary
Who knew that Sharks love bananas so much that they got into an intense bidding war? The recently aired episode of ABC's award-winning show 'Shark Tank' featured entrepreneur duo Renee Heath and Bechara Jaoudeh stepping into the tank to pitch for their unique invention of a kitchen gadget called Banana Loca. Banana Loca helps to core and fill bananas with a filling of your choice like Nutella, peanut butter, jelly, etc, while still in their peel!
After listening to the pitch and trying out the product themselves, the Sharks were pretty excited about the fun yet innovative concept of the product. So, Kevin O'Leary aka Mr Wonderful was the first Shark to roll out an offer. Renee and Bechara walked in seeking $250,000 in exchange for a 25% stake in their company. Kevin slyly tweaked the offer to include his infamous royalty into the deal. The Shark made an offer of $250,000 in exchange for $3 royalty per unit sold in perpetuity. The other Sharks felt that Kevin's offer was a bit greedy. Luckily for them, Robert Herjavec swooped in.
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Robert added the royalty clause in his offer as well but made it slightly less sharky than Kevin's by seeking $250,000 for a 10% stake in the company and a royalty of $3 per unit sold until $350,000 is paid off. By this time, Renee and Bechara were beginning to feel a bit tense. Bechara tried explaining that he was looking for a Shark to open the doors for them and add the star power to the brand. When Mark heard that, he felt he could help out the duo. So he too decided to make an offer.
But before Mark could make his offer, Kevin rushed to Mark and the two Sharks began discussing their plans of joining hands to help out the brand. They felt that they could use their social media reach to help with the sales of Banana Loca. So the duo made a joint offer of $250,000 in exchange for a 25% stake in the company and a royalty of $3 per unit sold until the $250,000 is paid off. Renee and Bechara happily accepted the offer and walked away grinning from ear to ear.
'Shark Tank' Season 13 airs every Friday at 8/7c on ABC.
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.
