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‘Shark Tank’ Season 12: Why did Peekaboo Ice Cream founder say Sharks made a mistake after rejecting $800,000 offer?

In an interview with Forbes, she revealed how she juggled between her career as an attorney and an ice cream shop owner for several years

I scream for ice cream! One glimpse at Peekaboo on ‘Shark Tank’ fills your heart with glee. The brain behind Peekaboo is Jessica Levison. Prior to dipping her feet into the delicious world of ice cream, Levison was a lawyer for Legal Aid Services in Florida.

In an interview with Forbes, she revealed how she juggled between her career as an attorney and an ice cream shop owner for several years. She finally focussed all her energy on her shop after she was canned from her job. The company website explains the product as, "At Peekaboo, we’re all about the precarious balance of parenting: We know how hard it is to get your kids to eat their veggies — slash impossible. We also know there’s no denying their ice cream-induced smiles."

Seeking an $800,000 investment for an 8% stake, Jessica's product somewhat impressed the Sharks but they were certainly not happy with the sales. When she said it's a "unique" idea, Kevin O'Leary disagreed and told her how the big companies would soon steal the idea and crush her. Moreover, Mark Cuban had a piece of advice for her: "Don't start a business unless it is an obsession." Both of them said no to her product.

"Do you know how a diamond is made?" Lori Greiner said and compared her to a "diamond" put under "intense pressure". One fan even said, "I love how @LoriGreiner is pulling a play out of @kevinolearytv’s playbook by telling a story with a point before making an offer! She is driving Kevin nuts!"

Instead of a deal, Lori offered her a loan for $800,000 with a 6% interest over three years and a 5% stake. Not just that, Mr Wonderful came around and offered her a 9% stake. Surprisingly, she gave a thumbs down and walked away. After leaving, she said, "For sure, they made a mistake." Why didn't she take the offer? Wouldn't it have helped her expand her business? Was it a major mistake on her part or will she still succeed?

Barbara Corcoran tweeted, "With a $10 million valuation, her sales must be out of cone-trol." She also said, "This would've been great to have around when my kids were younger, I could barely taste the difference! @ABCSharkTank #SharkTank@EatPeekaboo."

Many others were quick to say no. John Duncan wrote, "$800k for 8%. 450 k in sales? #Nope. I'm thinking 15-20%." Another tweet read, "Sorry hunty. ICE CREAM WITH VEGETABLES IN IT ..IS NOT WERKKIN 4 ME..."

There were others who loved the idea. "PeekAaBoo organic, great idea, good sales," one tweeted and another said, "#Peekaboo the sharks actually love the taste, which is hard. I would give it a try, "parenting hack"- that's how you market it #SharkTank."

Some encouraged her to take the offer, especially after Lori's "diamond" comment. "Dear @EatPeekaboo, I’m SO interested in your product! I hope you make it here to New York City, so I can buy your product," one tweet read and another said, "She needed an advisor before coming out on #sharktank peekaboo ice cream."

However, Daniel Lubetzky agreed with the Sharks. "I like #Peekaboo ice cream w/hidden veggies but agree with @BarbaraCorcoran that building a business to sell it is a prescription for mediocrity. You should build because you love what you do, and commit to excellence because you want to fulfill its potential #SharkTank," he said.

Another viewer wrote, "No, @EatPeekaboo. Lady, I think YOU made a mistake by not taking @LoriGreiner’s offer, then turning down Mr. Wonderful’s aka @kevinolearytv’s offer. With either of them by your side, your business would’ve grown by leaps and bounds! #SharkTank."

Do you think her confidence will help her in her business even though she rejected the offers? Share your thoughts in the comments below.

‘Shark Tank’ Season 12 Episode 8 will premiere on December 11, 2020, from 8 pm ET to 9 pm ET 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 and iTunes.