'Shark Tank': Why did Blowzee fail to bag $100K deal despite impressing the Sharks?
Friends Mark Apelt and Mark Lareau were pretty grossed out when they noticed the number of germs and bacteria that spread over the cake during birthday parties when the candle is blown out. The two friends teamed up and came up with Blowzee, a nifty solution to blowing out the candles without spreading germs. After enjoying moderate success within five months of their launch, the two Marks stepped into 'Shark Tank' seeking $100K in exchange for a 20% stake in their brand.
The Sharks- Robert Herjavec, Mark Cuban, Lori Greiner, Daymond John, and even Kevin O'Leary found it extremely fun to use the device. But when it was time for them to part with their money to invest in the brand, all the sharks unanimously backed out. Even though Mark hailed the Blowzee founders and their story of hustle as the very reason why 'Shark Tank' was created, the billionaire Shark was still not ready to invest. If you're wondering why then read on.
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After their fun pitch and demonstration of the product, the Blowzee founders definitely had the attention of all the Sharks. But as we all know, the numbers play a very important role in a Shark's decision to extend an offer. So, when the Sharks began grilling the founders about their numbers, and profit margins, they were all taken aback as soon as they heard that the duo managed to earn only $12,000 in sales since their inception.
While both Apelt and Lareau admitted that they were both very bad at marketing and needed a Shark's help with it, the sharks weren't convinced with their argument. The Sharks cited reasons ranging from the product being at very early stages, to no recurring purchase possibility with Blowzee as the reasons to shy away from making a deal. Unfortunately, even though the Sharks didn't extend an offer, the Blowzee founders were still optimistic about their business. After leaving the tank, the two men pointed out how people will continue to have birthday parties and hate germs, so they appeared to be confident about being a successful company even without the Sharks' help.
'Shark Tank' Season 13 airs every Friday at 8/7c on ABC.
Missed an episode? Been wanting to catch up? Episodes can also be viewed the next day on demand and on Hulu. Not just that, you can also watch old seasons and episodes on Amazon Prime Video and iTunes.
