‘Shark Tank’ founder pitches low-revenue side hustle, makes Mark Cuban sniff diaper — still lands a deal
Investors on ‘Shark Tank’ usually seek businesses with great profit and sales, but Mark Cuban made an exception this one time, and it was heartwarming. Regina Crisci built her company, Diaper Dust, as a side hustle while working full-time as a travel nurse. She created a deodorizing powder with a combination of activated charcoal and sodium bicarbonate, which can be sprinkled on dirty diapers before disposal. Crisci created this innovative product on her own and started manufacturing it in her backyard in North Carolina. She demonstrated the product’s results through a simulated dirty diaper, placed in front of each Shark.
When they took a whiff of the diaper, they seemed disgusted by the stench—but after sprinkling Diaper Dust, they could hardly smell a thing. Crisci sought $75,000 in exchange for 40% equity in her company, which the investors thought was a steep ask. Then, the entrepreneur made the shocking revelation that her lifetime sales were only worth $3,000. One by one, the investors opted out of the deal, despite being impressed by her credibility as a founder. “I’m looking for mentorship,” Crisci said, adding, “I am out of my element in this room, but it’s the room I’m meant to be in because you have so much to offer."
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She assured the judges that she’s a quick learner, and with their mentorship, she’ll be the "quickest bird to leave the nest" and work on her company. Besides guidance, she needs the money to build a factory to streamline her production. Kevin O’Leary, Barbara Corcoran, and Lori Greiner refused to invest because it was still too early in Diaper Dust’s business trajectory. “What you need is a working partner. You don’t need a Shark to invest because you don’t even know what you use the money for,” Corcoran said. O'Leary and Greiner also opted out for similar reasons.
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Guest Shark Emma Grede, CEO of Good American, also felt that the business was not at an investible stage. However, she advised Crisci to approach “mum influencers” on social media to raise awareness about her brand. Despite trying her best to get an investment, Crisci couldn’t get an offer, and struggled to hold back tears. “I do plan on walking away from nursing as long as I have the right mentor,” she said. That’s when Cuban came to the rescue like a knight in shining armor, declaring that he’d like to be that partner in her business.
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“You’ve demonstrated every bit that you are an entrepreneur,” he said. “You figured out how to make this gunk in the backyard. You figured out how to sell it. You figured out the formulations. You figured out to do it all while [business] not being your first language,” Cuban added. He agreed to join her business at the deal she requested, without any negotiation. “That’s a no-brainer,” Crisci said, accepting the deal. Speaking to the camera afterward, she said that she felt “grateful and blown away” by the experience. “Not just with the deal, but with all of the feedback, and just how amazing those people really are,” she added.