Shark Tank Season 3 - #309 - Update
Shark Tank Monday 8/26/2013
|Paddle Paddle Boards|
Shark Tank Season 3
Vinamor Wine AeratorIf you like wine as much as I do, then your going to love the Vinamor Wine Aerator that helps the wine breathe as its being poured. When Gary DeJohn came into the Shark Tank He was well prepared and did His homework on the Sharks themselves. Already knowing Kevin O'Leary has his own winery (O'Leary Wines) it was clear that DeJohn was targeting Kevin to invest $75k for a 30% stake in his aerator.
While O'Leary was indeed impressed with this product, He's already in this business with a few other wine aerators on the market, and never even makes an offer.
At the time of the taping of the Shark Tank, the Vinamor was selling for $40 bucks a pop which is a little pricey according to Kevin our wine expert. Gary was indeed able to find another oversees manufacture and drastically lowered the price to $24.95 per unit.
The Miso Media Music Apps are the Guitar Hero Games of the future played on your smart phone instead of a game box. Aviv Grill the Inventor of Miso Music, came into the Shark Tank asking $300k for only a 5% interest in the virtual music business. With a $6 million dollar valuation and having Google Ventures already a partner in the virtual music business with a $600k infusion, Miso Media had little trouble getting the Shark's interested in this investment.
With everything going seemingly very good for this company adding additional products such as the new iPic used for strumming your virtual guitar, their FaceBook page and Twitter account has gone untouched for several months with zero updates to speak of. On Miso Media's Linked In Page they do have one update stating they are working on this new App called "Sonata" which promises to be the next big "thing" for digital music distribution.
Unfortunately at the time of this writing the Miso Media website does not resolve which is a little puzzling to say the least. Considering Aviv Grill and Ingrid Michaelson will again be on the Shark Tank tomorrow night, they might just be updating the site for the expected increase in traffic that is sure to come.
Instant Lifts TapeThe Instant Lifts will lift your sagging skin right up. Serial Entrepreneur's Nick & Penilopee Larosa the owners of Instant Lifts, has a patented way to tape that unsightly skin almost like an instant body lift which you will be the only one that knows. With $75k in sales in just the first 5 months, the $100k for a 25% equity stake did not seem out of line. The only problem was they also have several other similar inventions that was not part of this deal. The Sharks tried to get them to combine the products under one roof, but that was not even an option at the time and no deal was made.
Nick and Penilopee did take their advise after the Shark Tank and have now combined all their products under the Skinnies Brand name to include the Instant Body Lift, Instant Face Lift, Back Lifts and even an Instant Bottom Lift..
Tower Paddle BoardsThe Tower Paddle Boards is a super cool new invention what will have you out on the water in no time. Stephan Aarstol the inventor of the Tower Paddle Boards, came into the Shark Tank seeking a $150k investment for 10% of the business. After negotiating with the Sharks, its Mark Cuban that closes the deal for the $150k Stephan was seeking but ended giving up 30% of the paddle board business.
The deal did in fact go Thru after the due diligence phase and Mark Cuban is now part owner in the business. Mark was quoted that the Tower Paddle Board is one of His best investments ever made on the Shark Tank Show. That's a huge compliment that definitely adds credibility to this or any company that Cuban invests in.
Featured Shark Tank Update - ReadeRest Spec SecureThe ReadeRest Spec Secure is a magnetic eyeglass holder that inventor Rick Harper brought into the Shark Tank earlier in the beginning of season 3. Rick came in looking for $150k in exchange for 15% equity in His eyeglass magnetic holder. All the male Shark's seemed to think this idea was just a little to simple to make any money and they all proceeded to go out in quick fashion. This left the QVC Queen Lori Greiner that has a very successful past in the eye glass business the only Shark left standing.
Lori offers Rick the $150,000.00 but She wants 65% of the company to make this deal worth Her time in promoting it. With no other offers on the table and a promise from Lori to make Harper very rich from his invention, he takes the deal on the show.
Within less than a year and a few featured spots on QVC, The ReadeRest sold over $3 million worth of product and hasn't slowed down since. Current estimates put the total sales now closer to $5 million and has effectively made Rick a millionaire with this seemingly simple, but very handy eyeglass holder.