Baker with low sales and simple pitch wins over ‘Shark Tank’ judges — lands $200K deal thanks to her story
A 'Shark Tank' contestant broke down in tears after meeting her idol and securing a great deal on the ABC business program. During a season 16 episode that premiered in November 2024, a budding entrepreneur named Kimy Aguirre presented her business in front of judges Mark Cuban, Kevin O'Leary, Lori Greiner, Daymond John, and Kendra Scott. At one point, Aguirre became overwhelmed with emotion after receiving a life-changing deal from one of the sharks. In the episode, she was seeking $100k in exchange for 10% in her baking company, Doatnut.
During her pitch, Aguirre explained, "We all know Americans struggle with salt, fat, and sugar addiction. But eating a sugar-free, gluten-free, or dairy-free diet can often feel like you're eating dry cardboard with high calories and an unappealing aftertaste. That's why I took on the challenge to create a healthy version of a guilty pleasure. So hello to Doatnut. This might look like it's full of sugar or ingredients we can't pronounce. But what if I told you that this is no dairy, no gluten, less than one gram of sugar, found naturally in sweet potatoes. It's only 90 calories." Along with this, the entrepreneur stated that her gluten-free donuts were created with five wholesome ingredients, including pure oats, sweet potatoes, egg whites, monk fruit, and baking powder.
Soon after, Aguirre shared how guest shark Scott inspired her to start her own business venture. “This is a full circle moment for me because my very first pop-up event, I sat at my table next to this most beautiful table that had some gorgeous jewelry on it. And I walked over to introduce myself to the gal, and she said, 'This is Kendra Scott jewelry,' and she went on to tell the story of how you started in your spare bedroom with $500 and that you went from boutique to boutique. And at that moment, I dared to dream,” she said.
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Despite her emotional story, Aguirre’s sales weren’t enough to win over all the investors. She revealed that the lifetime sales of her company were $350,000, and it only made $50,000 in sales that year. Soon after, O'Leary backed out by saying, "That's not a lot of sales, Kimmy, to be honest with you. From my point of view, the product's spectacular. I'll become a customer, but you're not worth a million bucks right now. I don't see doing this deal because there's no plan for me to get a return, but I'll be a customer."
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John also dropped out, citing that this wasn't his type of business. On the other hand, Scott praised Aguirre's passion and dedication but refused to invest in her company because she wasn't familiar with the grocery market. However, Cuban teamed up with Greiner and offered a joint deal of $150,000 for 30% equity. After hearing the offer, the entrepreneur got all teary-eyed and said, "Thank you so much, I really appreciate that. Would you be willing to do it for 20%?" Cuban and Greiner made a counteroffer of $200,000 for 30% equity. Without a second thought, Aguirre accepted the offer, and the trio sealed the deal.