'Shark Tank' contestants walked in with a 'bear' and bagged a life-changing deal
Budding entrepreneurs who appear on 'Shark Tank' leave no stone unturned to land a deal from the esteemed Sharks. During the first episode of 'Shark Tank' Season 10, which aired in 2018, Cory and Heidi Santiago, founders of Bear Minimum, presented their innovative cookware for campers to judges Mark Cuban, Lori Greiner, Kevin O'Leary, Daymond John, and Jamie Siminoff. While pitching their company on the ABC show, the pair used a unique trick to garner the attention of the Sharks — Cory and Heidi brought an enormous bear prop!
In the episode, the Santiagos sought $100,000 in exchange for 20% of their company. Cory and Heidi were joined by their other business partner, Tim Krauss, who was dressed up in the bear costume to pitch their product, the Bear Bowl — a foldable, pocket-sized cook pot designed specially for campers. While presenting their product, the duo argued that traditional camping cookware is usually quite bulky and heavy, so they designed theirs to be light and easy to carry. Following their presentation, judge O'Leary asked Cory and Heidi if the product was protected, to which Cory revealed that their utility patent was pending. Subsequently, Cuban asked them about their sales, and Cory shared that they had raised more than $40,000 from a Kickstarter campaign as the product hadn't hit the market at that time.
Then, the Sharks got down to business. As per Market Realist, O'Leary had no interest in the product, and went on to say, "So guys, I never go to places where there isn't 24-hour room service, and the idea of going outside and being bitten by stuff is crazy. I would never use this product, so I'm out." Shortly afterward, Cuban also dropped out as he felt that Cory and Heidi weren't hardcore businessmen. Greiner was the next Shark to drop out as she wasn't a big fan of the camping niche.
However, guest Shark Siminoff saw some potential in Bear Minimum and offered the Santiagos $100,000 for 25% equity. After hearing Siminoff's offer, Cuban told the couple, "You should say yes right now!" When the pair asked if any other Shark was interested, John entered the bid and appreciated Cory and Heidi's resilience. John offered them $100,000 for 33.3% equity. In the end, the pair accepted Siminoff's offer.
Once the episode dropped, viewers, too, loved that the founders opted to bring a bear prop to the show. A netizen remarked, "I appreciate that they included the bear in their consultation. Very respectful." Another agreed, "Plot twist..the other investor was in the bear suit the whole time." Meanwhile, one noted, "At 9:22, she consults with the bear seriously. The bear may have been an advisor or someone for real, lol." Another echoed, "What did they consult the bear with at the end. LMAO."
