Couple brings life-sized dinosaurs to ‘Shark Tank,’ lands $500K deal with Mark Cuban
'Shark Tank' contestants consistently go the extra mile to impress the Sharks with their creative pitches. During a Season 12 episode of Shark Tank, Dino Don Lessem and his wife, Val Jones, brought life-sized dinosaurs onto the set. Soon after, the founders of Dino Don demonstrated their product, which nearly made the Sharks scream. In the episode, Don Lessem and Jones were seeking $500,000 in exchange for 10% of their company. They ultimately secured a deal with Mark Cuban, their top-choice investor going into the show.
During their pitch, Jones said, "When it comes to dinosaurs, Don is a big deal, he's a dinosaur explorer who's excavated and recreated the biggest dinosaurs that ever roamed the earth. He’s one of the few people to have a dinosaur named after him, Lessemsaurus. He's written dozens of books about dinosaurs, and he was science advisor to Steven Spielberg on Jurassic Park." At that point, Don Lessem explained, "Well, Val, she just loves spreadsheets. She has raised millions of dollars for nonprofits, zoos, and museums, and she's our financial mastermind."
Following that, Jones shared, "We distinguish ourselves by creating the most accurate and educational dinosaurs ever made, and they're always full-size, that means up to a hundred and ten feet long." They revealed that each robotic dinosaur costs $5,000 to produce. When asked about the numbers, Don Lessem and Jones stated that they did $1.8 million in 2020 and expected to hit $3 million in the next year.
Elsewhere in the episode, Don Lessem mentioned that he wanted to establish a gate-sharing program with the venues to generate more revenue. The Sharks were taken aback after learning the statistics of the gate-sharing model. As per Market Realist, Kevin O'Leary said, "No way! That's not how it works. I mean, look, you've got to give me real numbers. I don't believe that." In addition to this, O'Leary highlighted that the company was "all over the map," but the numbers didn't make sense, so he was out. Shortly afterward, Daymond John and Lori Greiner also backed out.
On the other hand, Cuban showed interest in Dino Don and quipped, "Guys, look, I like the idea. I really do, and I can help you with marketing. Have you explored working with any of the big concert promotion companies at all?" to which Don Lessem replied, "Not yet." Cuban further added, "So I can introduce you there right because this is their business, and guess what they're dying right now. I'm gonna make you an offer. I'll offer you the $500,000, but I want 25% because it's going to be a lot of work, and I'm going to have to dedicate a lot of people and put in a lot of time." In the end, Don Lessem accepted Cuban's offer and told him, "I want you to know how much we believe in you," by showing him the back of their t-shirts, which had a message that read, "We love you, Mark Cuban."