Lori Greiner got so frustrated with this ‘Shark Tank’ contestant, she walked out before he finished his pitch
'Shark Tank' investors are known for solid business acumen, and while it may seem that they are betting on the product, or the pitch, or the promising numbers, what seals the deal is the brains behind it. It's the entrepreneur’s vision, drive, and willingness to grow that often wins a Shark’s trust. But in a rare turn of events, despite a promising pitch, Mark Aramli failed to check one crucial box, and that was enough for even the ever-optimistic Lori Greiner to walk away from the deal.
Aramli, founder of BedJet, appeared on the 'Tank' in season 6 with an ask of $250,000 for 10% equity. He pitched a unique product that offered a climate control feature for beds. It also had a built-in alarm system, dual settings, and cool-down timers, ensuring customers a good night's rest. The entrepreneur revealed that though the product was priced at $499, they were still in the production phase and hadn't made any sales yet. Though other Sharks seemed impressed with the product, Kevin O'Leary didn't buy into it and said, "You are going to fail, you have overpriced it, because you are a pig."
While Greiner, seemingly interested, urged Aramli to ignore O'Leary. But before she could finish, Barbara Corcoran cut in with another question. Frustrated by the lack of attention, Greiner warned the entrepreneur, “If you’re not listening to me, I’m out.” When Aramli chose to respond to Corcoran instead, Greiner made her stance crystal clear and repeated, “I’m out,” with finality. She explained, "I asked him 5 times to answer my question, but he ignored me, so I am out." Aramli apologised to the Shark, stating that it was hard for him "to keep up." But Greiner's patience had run out, and she stayed firm on her decision. Mark Cuban also bowed out, stating Aramli's focused more on "selling" the product than explaining the technology behind it. Corcoran also backed out, stating she didn't believe in the product.
Later, in his defence, Aramli told Business Insider that he didn't deliberately ignore Greiner and deeply regretted that she felt his way. He explained what may have confused. "What you don't see behind the editing is that taking the Sharks' questions is like being the president at a press conference. Questions are firing off from every direction, all the same time, and even the Sharks themselves are talking over each other — it's a very noisy, fast-paced Q&A." He added, "By definition, the Sharks are investors with large egos, and I think hers was hurt by not getting my attention quickly during all the noise. I've learned a long time ago that when you let your ego get in the way of business, you tend to make bad decisions."
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Despite not bagging a single deal on 'Shark Tank,' he seemed happy and said that he is "on track to be the Shark Tank loser that is laughing all the way to the bank." According to Shark Tank Recap, the company sold more than 100,000 units on Amazon in the beginning of 2023 and today it is a no. 1 customer-rated product in the mattress category on Amazon and has received hundreds of, almost all, five-star reviews, as reported by Lauracoe.
