NYC pasta entrepreneur cooked up a pitch so good, it left the 'Shark Tank' panel fighting and us hungry
Food entrepreneur Brandon Fay brought his "gem of NYC," Pasta by Hudson, to 'Shark Tank', seeking $150,000 for 10% equity. Fay claimed that customers were raving about his customizable quick-serve pasta bar, which was located in the heart of New York City. He explained that pasta lovers could choose from various vegan options—from the type of pasta and sauce, to their favorite toppings, to create a decadent Italian meal. “When you cook with love, people can tell. They can tell right away,” Fay exclaimed, before enticing the Sharks with, “Who wants to make a lot of dough?”
"When you want to go eat Italian, the first thing that comes to your mind is, oh boy, I gotta go to a restaurant, and even with a reservation, I'm gonna wait a while. Then the pasta is expensive, and then by the time the pasta finally comes, it's cold; it's not even fresh pasta. And that's why I started my company," he told the investors. The sharks were impressed by the quality of his invention and listened to his witty pitch with rapt attention. “That is so good,” Mark Cuban expressed as he tried the bucatini pomodoro with meatballs. “Let me tell you, this is the best meatball I've ever had,” Barbara Corcoran chimed in. To the amusement of the Sharks, Fay then revealed that he is of Irish-Jewish descent and still grew up with fabulous knowledge of Italian dishes.
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Fay credited his profession for teaching him about the intricacies of the food industry: “I ran one of the busiest restaurants in not only New York City, but pretty much the United States,” he said, referring to Trattoria Dell'Arte in Manhattan. Corcoran was so impressed with the taste of meatballs that she instantly proposed $150,000 for 50% in the meatball business if Fay introduced it online. However, the food entrepreneur politely turned it down because Cuban and Lori Greiner offered 20% equity. Fay reacted to their proposal, thinking Cuban and Greiner each wanted 10%. "He wants 20% himself. What does that leave for me?" Greiner clarified.
However, Cuban thought that Fay's little venture could turn out into a pasta cloud kitchen, "where food is ordered for delivery only, with no dine-in restaurant option." “I’ll give you the $150,000,” Cuban continued with his proposal under one condition. “I want 20%, and I have no problem partnering with Lori. The only thing that I require is that we seriously consider the cloud kitchens.” Fay hesitated and proposed 15% each, but that didn't sit well with Cuban. He countered with 30% equity, 10% for Greiner, and 20% for himself. “Here’s what we’re going to do. I’m going to put up $100,000, and Lori will put up $50,000. We’re going to take 30%," Cuban said, while walking up to Fay and closing the deal with a handshake.
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While Corcoran felt cheated being left on the sidelines, Fay accepted Cuban and Greiner's offer without giving it much thought. “I’m going to tell you something, Brandon, you made a mistake here,” Corcoran reacted, clearly irked. “You had another deal on the table, and you never even entertained it!” As per Food Republic, Pasta by Hudson went into deep trouble during the pandemic, and from there, the business went downhill. As of now, the only restaurant that is located in Chelsea remains closed.
