Overexcited 'Shark Tank' contestant picks up Daymond John off the ground after sealing a $200K deal
A 'Shark Tank' contestant couldn't contain his excitement, and he lifted a Shark in the air after sealing a deal on the ABC business program. During an episode of 'Shark Tank' Season 7, budding entrepreneurs Jordan Barrocas and Daniel Fogelson presented their company, Three Jerks Jerky, which creates 100% filet mignon jerky in a bunch of different flavors, including original, Memphis BBQ, and chipotle adobo, in front of the esteemed Sharks. In the episode, Barrocas and Fogelson were seeking $100,000 in exchange for 15% of their company, and they managed to win over Daymond John with their beef jerky products.
While pitching their company to the Sharks, Fogelson said, "Have you ever eaten jerky only to find yourself asking, 'What did I just eat?' And the jerky was tougher than shoe leather or filled with so many chemicals and preservatives you couldn't pronounce most of the ingredients." Soon after, Barrocas chimed in, "Well, Three Jerks Jerky has changed all that by using only the best meat. Made from 100% filet mignon, our jerky is the most tender on the planet."
Barrocas further added, "Let me show you why the meat matters. You see, at best, most jerkies are made from top or bottom round beef. While they're one of the leanest cuts, they lack flavor, and you might lose a tooth biting into them, and you're essentially eating a cow's butt. The tenderloin, or the filet mignon, is the finest steak from the most precious part of the cow. Lean and succulent, this tender and buttery beef puts all other cuts to shame."
Soon after, the duo handed over the samples to the Sharks, who were pretty impressed by it, with Robert Herjavec saying, "Oh my god! It's amazing." On the other hand, John exclaimed, "Wow!" Meanwhile, Lori Greiner had some concerns about sodium levels. Then, Barrocas and Fogelson assured the Sharks that their jerky contained less sodium than most products in the market, with no added nitrates. When asked about the prices, the entrepreneurs mentioned that the cost of one pack was $11.99. According to Market Realist, Barrocas reflected on the sales of their company and shared, "So, in the past 12 months, we've had $350,000 in sales."
Eventually, the Sharks came down to business. Mark Cuban was the first Shark to drop out because he felt that the jerky space was too competitive. Shortly afterward, O'Leary showed interest in Three Jerks Jerky by saying, "Look, I like you guys. I'm going to make you an offer. I'll give you $100,000. I want to be a third partner. I want 33%. I want to be a Shark, not a jerk." Immediately, Herjavec entered the conversation and made an offer of $100,000 for 20% equity. Before they could respond, Greiner and John jumped in and matched the offer. Considering the fact that Barrocas and Fogelson had multiple offers on the table, John lowered his equity to 17.5%. Then, John made things a bit more interesting by offering $100,000 for 15% with an option to buy another 15% for $100,000. In the end, Barrocas and Fogelson accepted John's offer. As John went in for a handshake to seal the deal, he was picked off the ground by Fogelson.
