First Defense Nasal Screen on Shark Tank
"Peel and Stick" Nasal Screens - Season 2 Episode 202 - Update
|First Defense Nasal Screen|
Gets Biggest Offer Ever
on the Shark Tank
Think of it almost like an air cleaner for your respiratory system that blocks out breathing allergies in the fist place
Cool Idea Hugh? I thought so and so did the Sharks. In fact this is such a cool idea that it got a $5 million dollar offer for the entire company which set a record for the highest dollar amount ever offered on the Shark Tank Show.
First Defense Nasal Screen Shark Tank Recap:Joe Moore first walked into the Shark Tank looking for a $500,000.00 investment in exchange for 10% of his Nasal Business.
Moore has a patented almost invisible sticker you stick in the entrance of your nose preventing pollens and allergens from entering. At first the idea of walking around with a breathable sticker on your nose kind of had the Sharks thinking "how did this guy even get on the show'? Little did they know it was about to get the largest offer ever made on the Shark Tank Show.
Joe reveals he's already sold over 1.7 million units with plenty more customers where they came from. The United Arab Emirates alone gave him an $8 million dollar contract over the next six years. It appears First Defense also works very good at keeping sand from blowing in your nose which is a major health concern in the desert. Moore first needs the capital to fulfill these large orders and that's why he came to the Shark Tank.
Largest Offer Ever Made on the Shark Tank
Kevin O'Leary is the first to start the negotiations by offering $500k for a 20% stake in the business but also wants a 15% royalty until he recoups his entire investment. Mark Cuban is also interested and wants in on Kevin's deal.
Daymond John offers $800,000.00 for First Defense with a 30% stake plus a 10% royalty off the top. This has Kevin upping the ante to a million dollars for the entire company. Daymond ups his offer also to $1 million for only a 30% stake in the company.
Robert Herjevic smells a huge opportunity when an offer for $2 million is rejected so he doubles his offer to $4 million for the entire First Defense Nasal Business. This now becomes the largest offer ever made on the Shark Tank Show.
Moore originally came into the Shark Tank putting an initial valuation for First Defense at $5 million and just got offered $4 million cash and a chance to get the biggest payday from any contestant on the show. With all this money flying around, why not ask for another million while all the Sharks seem in such a generous mood? Robert checks his checkbook and decides he cant afford the $5 million dollar price tag and goes out.
Kevin and Mark wisely decide to bring Daymond into their new offer which is now $750k for a 30% stake and a 10% perpetual royalty. Joe decides 3 Sharks are better then one, especially if one of them own the Dallas Mavericks. He squeezes a pair of season tickets out of Mark Cuban to close the deal.
First Defense Nasal Screen Update:Joe Moore and his three new Business Partners wasted little time getting the website updated and providing the necessary capital to fulfill the orders that are still pouring in for this ingenious way to keep allergens from entering your body in the first place.
Here's A video that was filmed shortly after the Shark Tank showing all the benefits using the First Defense Nasal Screen.