A dad’s tearful pitch for his son’s future moved ‘Shark Tank’ judges to do something rare
Ever since 'Shark Tank' debuted in 2009, the show has welcomed countless entrepreneurs, who, despite challenges, stood firm in their belief and came out on top. In one such instance, a father-son duo's emotional story was too passionate to handle for the Sharks. So much so that Lori Greiner couldn't hold back her tears. Their story was so powerful that all five Sharks teamed up to make a deal with them, something that doesn't happen very often in the Tank.
Father-son duo Mark and Kenzo Singer impressed all five Sharks and secured a $125,000 investment in exchange for 20% equity in their foldable reading glasses company, Eyewris, based in Santa Barbara, per CNBC. Kenzo described the innovative glasses as ones that "spring open and snap shut," cleverly folding into a bracelet for easy portability. The idea was inspired by Mark's own struggle with always losing his reading glasses. "As I got older, I needed reading glasses more and more, and they were never with me when I needed them," Mark explained.
"I thought the solution was to buy a dozen pairs and put them everywhere. I still didn't have them when I needed them." Kenzo, a structural engineer trained at Cornell University, applied his knowledge to the challenge. "Physics at the scale of a skyscraper also applies to something as small as a pair of reading glasses," he said. Mark, who had invested $630,000 of his own money from the success of Gorilla Glue, admitted they were already profitable just nine months in, despite only having $28,000 in lifetime sales at the time of filming.
This made Daymond John ask, "Why do you need a Shark?" Mark's heartfelt reply brought emotion to the room. "Your most valuable commodity isn’t your money; it's your time," he said, visibly choked up. "I don't have it in me to build another company. My time has passed. My main reason for being here is to leave Kenzo in good hands, and by that I mean with successful, smart, honest, and ethical people like yourselves."
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Lori Greiner, tearing up, made the first offer of $25,000 for 10% equity, adding, "I know this business; I know what it takes. I’ve done millions of dollars in sunglasses ... and I think that this is really ingenious." Kevin O'Leary followed with $50,000 for 10%. I know how to blow this up huge. This is an extraordinary situation." A bidding war began where John proposed teaming up with Greiner, but the Singers pushed back, saying, "We don't want to give up 10% of our company for any amount of money." Sensing a false alarm, O'Leary suggested a three-Shark deal with himself, Greiner, and John, until Mark Cuban and Barbara Corcoran also jumped in.
After a quick huddle, the Sharks returned with a united front, offering $125,000 for 25% equity. "Every single Shark wants to back you guys," O'Leary said. "Practically never happens." Kenzo countered with 20% equity, and the Sharks accepted. After the deal, Kenzo proudly said, "I couldn't be prouder of my dad. I've never seen him get emotional like that." After their 'Shark Tank' appearance, Mark and Kenzo Singer's company, Eyewris, saw a major boost in business, selling thousands of their foldable reading glasses and riding the "Shark Tank effect" as monthly revenue jumped from $28,000 to $77,000, per Shark Tank Blog.
The company's valuation rose to $1.6 million, and its product line expanded with new color options for both men and women. Although it's unclear if the five-Shark deal officially closed, as Eyewris isn’t listed on all Shark-affiliated platforms, the brand continued to grow, adjusting prices from $110 to $89 and later discounting to $65 during a rerun in July 2023. Despite knockoffs appearing on Amazon, Eyewris now has an estimated net worth of over $1 million and continues to sell exclusively through its website, focusing on innovation and customer satisfaction.
