'Shark Tank' stars Mark Cuban and Lori Greiner may have just made a huge mistake with ChompShop
During the latest episode of 'Shark Tank' Season 16 which aired on November 15, Max Liechty and Kausi Raman presented ChompShop, a business offering kid-friendly cardboard cutter to Sharks including Mark Cuban, Lori Greiner, Kevin O'Leary, Barbara Corcoran, and Rashaun Williams.
In the past, we have witnessed many tools on the program, however, Max and Kausi who both graduated with master's degrees in Integrated Product Design from the University of Pennsylvania decided to invent a safe cutting tool for kids that helps them to make unique designs with their creativity.
The co-founders of ChompShop walked into the ABC business show seeking $250K for 5%. It seems like their kid-safe cutting tool managed to catch the eye of Sharks. In the episode, Mark and Lori decided to team up and invest in ChompShop.
Sharks Mark Cuban and Lori Greiner offer 50K for 75% of ChompShop
'Shark Tank' Season 16 Episode 5 showcased Mark Cuban and Lori Greiner having a lengthy discussion regarding whether to invest in Max and Kausi's business venture ChompShop or not. The two Sharks saw the potential in the kid-friendly cutting tool.
Rashaun Williams, Barbara Corcoran, and Kevin O'Leary declined to invest in ChompShop. On the other hand, Mark and Lori were fascinated by the cutting tool and offered $50,000 for 75% of the company. In the end, Max and Kausi accepted the deal.
'Shark Tank' star Lori Greiner dubs ChompShop 'the toy of the holidays'
Following the deal on 'Shark Tank' Season 16, Lori Greiner took to her Instagram page and gushed over Max and Kausi's ChompShop. In the video shared, she and her 'Shark Tank' co-star Mark Cuban can be seen using the kid-friendly cutting tool.
Lori started by saying, "The toy of the holidays. All you have to do is take your cardboard which we get every day because we're always ordering boxes. Turn it just like a wood shop and it's totally safe and look it's safe too in there. It doesn't get hot. So cool so fun."
"ChompShop it's for your kids. It's safe you can make anything recycled cardboard. Go Cut it, Mark. He's making a picket fence. So it's this. This was made out of that tool. Out of the ChompShop. Totally safe for your kids," she further added.
View this post on Instagram
'Shark Tank' Season 16 airs on Fridays on ABC at 8 PM ET. For those who miss the episode, it will be available on demand the following day and on Hulu. Additionally, viewers can explore past seasons and episodes on Amazon Prime Video and iTunes.
