‘Shark Tank’ judges' joke during bizarre cremated ashes pitch left Gwyneth Paltrow (and us) flinching
The high-stakes world of 'Shark Tank' has seen its fair share of unusual products, but one pitch, about turning cremated ashes into solid stones, really stood out. What made things even more awkward was a bizarre comment from Barbara Corcoran that left the Sharks visibly uncomfortable, especially guest Shark Gwyneth Paltrow. Surprised by Corcoran's phrasing, Paltrow asked if there was a softer way to say it.
During their heartfelt pitch on 'Shark Tank, Justin Crowe's company, 'Parting Stones, a business that transforms cremated ashes into solid stones, requested $400,000. While the Sharks saw potential in the emotional and unique concept, concerns about the company’s lack of profitability led to several counteroffers. Corcoran's offer stood out, but her wording came off as creepy, surprising fellow Shark Paltrow and prompting a reaction from the entire panel, who felt it could have been phrased more carefully, per FandomWire.
Crowe openly admitted that Parting Stone hadn’t been profitable over the past three years and was still a few years away from breaking even, which was a dealbreaker for Corcoran, who initially backed out. However, after Kevin O'Leary and Lori Greiner made their offers, Corcoran jumped back in with a revised pitch, as she said, "I will give you the $400,000 cash, not for 7% but for 10%, but I would like a $20 royalty for every dead person and every dead animal." The wording left Paltrow and the other Sharks visibly uncomfortable, with the actress even nervously asking, "Is there a nicer way to say that?"
Corcoran then openly admitted that she wasn't sure how else to phrase it. Despite the awkward moment, the discussion opened the door for royalty-based deals, which Crowe was willing to consider. Cuban, however, left the Parting Stones pitch early, citing a conflict of interest due to his prior investment in Eterneva. Notably, Eterneva is a company that also turns ashes into memorial items, specifically diamonds. Meanwhile, Mr. Wonderful, aka O'Leary, and Greiner were eager to secure the deal. Crowe in the end accepted their joint offer of $400,000 in exchange for 10% equity. However, the deal was not without O'Leary's favourite demand, as it was sealed with a $20 royalty on direct-to-consumer sales and $12.50 on B2B sales until the investment was repaid.
After the deal closed, both O'Leary and Greiner were seemingly pleased, and Cuban, despite not investing, showed support by saying he'd pitch the idea to Adele Archer from Eterneva, amusing guest Shark Paltrow. According to Shark Tank Blog, Crowe's deal with Greiner and O'Leary closed quickly after the show. After the show, Crowe raised the prices of the company’s services. On the air night, both Sharks tweeted about the deal, and the exposure led to a 100% spike in direct-to-consumer sales as well as increased interest from funeral homes. Reportedly, in January 2023, Parting Stone raised $2.3 million in Series A funding, which included the Sharks' investment. The new funding is being used to build a lab in Australia, scheduled to open in early 2024.