‘Shark Tank’ founder made Sharks wax a shirtless model — but a huge red flag sank her million-dollar dream
If you’re a regular ‘Shark Tank’ viewer, you know entrepreneurs pull all kinds of stunts to impress the Sharks. Sometimes, it is not just an enthusiastic pitch that lures the judges, but the celebrity endorsements, dance troupes, and more. But sometimes, even a shirtless model isn’t enough to win a deal. Aliyah Marandiz appeared on ‘Shark Tank’ in Season 16. But she wasn’t alone, she brought a shirtless male model the judges used for her demo.
She invited guest Shark Kendra Scott to help with the demo, and Scott happily joined in. According to Market Realist, she asked for $500,000 in exchange for just 5% of her company, Sugardoh. Marandiz then asked the guest Shark, Kendra Scott, to join her on stage and do the demonstrations herself. Kendra Scott seemed thrilled to wax the shirtless model and clearly had fun doing it. She even enjoyed the task. Expressing his thoughts, the former Shark, Mark Cuban, told the entrepreneur that it was satisfying to watch the whole process.
The product worked, but hair removal has always been a crowded, ultra-competitive market. Kevin O’Leary didn’t quite get the product, but he was curious about the sales. In year one, she made $50K. Then came TikTok year two brought in $2.6M, and year three hit $5.6M, right before filming.
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But what she said next changed everything, and not in a good way. Despite the sales, the company was $1.5M in debt, with over 20% interest and zero profit. The contestant then added that her company lost more than $400,000, which added to her debt. She explained the company had no cash, and that’s why she came to Shark Tank. As soon as Cuban heard this information, he backed out from investing in the company. The outlet also mentioned that the judge had no clear idea about the product or the industry. Joining him in his decision was Mr. Wonderful, who also felt that the entrepreneur was asking for a massive valuation.
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The debt sealed it; even with big sales, O’Leary wouldn’t bite. When it came to Daymond John, he did not see how the company could repay him after his heavy investment and declined to join the entrepreneur in her venture. Moving to the guest Shark, Scott, although she took part in the demonstration, she said no, as the business did not seem to be in her niche. Lori Greiner ignored the debt but said the market was too crowded, and the business wasn’t profitable enough. She expressed doubt about how long they would be able to survive and hence backed out as well.
