MEAWW.COM / ENTERTAINMENT / TV

Kevin O’Leary offers $125K to ice cream startup on ‘Shark Tank,’ but backs out after founders’ odd reaction

eCreamery's pitch on ‘Shark Tank’ had the sharks intrigued, but one hesitation melted the deal away

On ‘Shark Tank,’ flashy pitches, unique ideas, and even big sales numbers can grab attention. But without strong profit margins and a clear growth plan, deals often slip away. That’s exactly what happened when Abby Jordan and Becky App, founders of an ice cream startup called eCreamery, brought their business before the sharks. Despite an eye-catching product and an impressive revenue history, the pair ultimately left the tank without securing an investment. Unlike traditional ice cream brands, eCreamery aimed to transform America’s favorite frozen dessert into a personalized gifting experience. Their pitch centered on the idea that ice cream could be more than a sweet indulgence.

It could become a unique, thoughtful gift for birthdays, anniversaries, holidays, or any special occasion. The company offered customers the ability to design ice cream flavors tailored to the recipient’s tastes and even customize the packaging with personalized names. That meant buyers could surprise loved ones not just with ice cream, but with ice cream that literally had their name written on it. But such customization came at a steep price. A four-pint package of eCreamery ice cream costs around $80, as per Market Realist. This makes it far more expensive than a typical grocery store brand. Shark Robert Herjavec acknowledged that the price point was high.

He, however, noted that if positioned as a “lifestyle gift product” rather than everyday ice cream, it might not seem unreasonable. Jordan and App came into the tank seeking $250,000 in exchange for 33.3% equity, valuing their company at $750,000. They proudly shared that eCreamery had generated $2 million in lifetime sales, with $750,000 in revenue during the year before filming. On the surface, those numbers sounded promising. But when the sharks dug deeper, concerns quickly surfaced. Despite strong sales, the company had only cleared about $60,000 in profit. The founders claimed their profit margins were around 60%, but admitted much of the revenue had been reinvested into upgrading production facilities.

It’s a move they said was necessary for long-term growth. The company also operated both online and through a brick-and-mortar shop. When Barbara Corcoran pressed them on whether shutting down the physical store would make the business more profitable, they admitted it would. This further raises doubts about their strategy. One by one, the sharks bowed out, citing concerns about the company’s scalability, thin profits, and lack of clarity on how to drive future growth. The business had an appealing concept and proven demand, but without stronger numbers, most sharks felt the risk was too high.

However, Kevin O’Leary, famously nicknamed ‘Mr. Wonderful,’ wasn’t ready to dismiss eCreamery entirely. He expressed interest in the concept, particularly its premium, giftable positioning. But in true O’Leary fashion, his offer came with a twist. Instead of matching the $250,000 request, he proposed $125,000 for 25% equity, according to Shark Tank Blog. While that asked for less ownership, it also cut the investment amount by half. For Jordan and App, the offer presented a dilemma. They hesitated, weighing their options instead of giving O’Leary a quick answer. But hesitation can be fatal on the 'Shark Tank.' Growing impatient, O’Leary eventually pulled his offer off the table, leaving the founders with nothing.