‘Shark Tank’ Season 12: Foam Party Hats nabs $100,000 deal, but why did Lori Greiner and Daniel Lubetzky fight?
When Lori Greiner asked Daniel Lubetzky if he wants to go alone, he said yes and persisted over his offer for Foam Party Hats
It's raining crazy deals on ‘Shark Tank’ this week! An idea that first sparked at a wedding, Foam Party Hats made an appearance and left the sharks jubilant — especially with all the custom-made products they came up with. Mother and son entrepreneur duo Manuel and Grace Rojas first designed the hat for Grace's daughter’s wedding and it soon blossomed into a business. In 2010, the family fled Venezuela and set up the business in Houston, Texas.
All the sharks in the episode — Mark Cuban, Kevin O'Leary, Lori Greiner, Robert Herjavec and recurring shark Daniel Lubetzky — were floored by the wonderful product and Daniel jumped on the opportunity and offered a $100,000 investment with a 30% stake. When Lori asked him if he wants to go alone, he said yes and persisted over with his offer.
However, Lori teamed up with Mark and offered the mother-son duo a whopping $100,000 investment for just a 25% stake. Getting two sharks — Mark and Lori on board — was a major win-win for them and they had to give a thumbs down to Daniel's offer even though he counter-offered at a 25% stake. While Manuel and Grace went home happily with their golden deal, Daniel was way too disappointed and he ended up having an argument with Lori.
But, Lori was not one to zip her lips. She retorted, "I respectfully asked if you wanna go alone and you said okay." Nonetheless, people couldn't stop celebrating the product's win on the show. After grabbing the deal, Lori shared a video of her with Mark. "Wanna laugh?!?! Watch @mcuban & I here! Foam Party Hats - so fun for everyone! Get yours here: https://foampartyhats.com #[email protected] @foampartyhats." One viewer said, "Omg, the Foam Party Hats are so much fun, I want this one #[email protected] @mcuban," and another posted, "My husband’s friends just pitched their cool idea in the #SharkTank go and get yourself one on these!"
Daniel then presented his side of the story. "My fellow Sharks (including @robertherjavec) were surprised that weddings are big for products like these – they clearly haven’t been to a Mexican Jewish wedding. We stay up till 5am dancing and then eat Chilaquiles. #SharkTank," he said, adding, "Creativity is a magical thing and it’s essential to have it, but you don't want to fall in love with creativity so much, that you don't focus enough on executing and building. #SharkTank."
"I’m concerned about how Manuel and Grace are going to scale their business and maintain longevity. But I really admire their hustle and creativity – I would love to help them! #SharkTank," he added and suggested a cool caption for one of the hats: "'Money Talks, BS walks!' [email protected] Now that’s something I’d like to see on a Foam Party Hat. #SharkTank." He also said, "Loved these guys. This one hurt more than you realize. Congratulations @LoriGreiner and @MCuban. I hope you know that I’m keeping the hat! Note to self – don’t cross Lori! #SharkTank."
Creativity is a magical thing and it’s essential to have it, but you don't want to fall in love with creativity so much, that you don't focus enough on executing and building. #SharkTank— Daniel Lubetzky (@DanielLubetzky) November 14, 2020
Loved these guys. This one hurt more than you realize. Congratulations @LoriGreiner and @MCuban. I hope you know that I’m keeping the hat! 🎩— Daniel Lubetzky (@DanielLubetzky) November 14, 2020
Note to self – don’t cross Lori! #SharkTank pic.twitter.com/bbwUz35axq
‘Shark Tank’ Season 12 Episode 5 premiered on November 13, 2020, from 8 pm ET to 9 pm ET on ABC. Missed an episode? Episodes can also be viewed the next day on demand and on Hulu.