Shark Tank Fight on Episode 617
Coming from one of the biggest Fans of the Shark Tank Show in this entire World, I'm not sure what to think about the Shark Tank Fight seen in last night's episode. The first thing this morning I went to You-Tube and watched the Scholly App pitch again, several times in fact, and now confused more than ever. Was the Scholly App appearance a real Shark Tank Fight or did we just witness the biggest fake scene ever seen on the Show?
The CEO of Scholly App, Christopher Grey Scholly confidently walks into the Shark Tank seeking $40,000.00 for a 15% stake in his Scholarship App. He did a fantastic job showing how easy the Scholly App displaying a list of scholarships tailored to each student. Christopher claims he's won over $1.3 million in scholarships for College giving him instant credibility within this market. The Scholly App was downloaded over 92,000 times in less than a year at .99 each, with 4-Star reviews thus far.
Basically, that's all the information the Sharks knew about the Scholly App when Lori Greiner says "I'm going to do something I've never done before". She then says "I haven't heard a whole lot, but I'm going to make you an offer right now".
Mark Cuban genuinely seems upset trying to ask a few real business questions, which is also the main reason most Shark Tank Fans watch the Show in the first place. Lori cuts off the only Billionaire on stage that made his fortune in the technology market and offers Grey exactly the investment he was asking, $40k for a 15% equity stake in Scholly.
Considering Christopher wasn't done with his sales pitch, He respectfully wants to tell the other Sharks and the millions of people watching the Show a little more about the Scholly App. Greiner reminds Grey she's offering exactly what he was seeking inside the Shark Tank and says "I'm not even going to ask you How Do We Monetize This, but I want you to say yes". Really Lori?
Daymond John also shows interest in the Scholly App knowing very little about the business model. But for different reasons than Lori's, is willing to invent in this company without any hard facts. As Daymond starts telling his story why he would be interested in the Scholly App, Mark Cuban is glaring at someone off-stage with a seriously pissed off look. I paused the video at that moment, and there's no doubt this was not acting, but you can see it in his eyes he didn't want any part of whatever was going on.
To make a long story short, the three Sharks that made their fortune's within the Tech Industry (Mark Cuban, Robert Herjevic and Kevin O'Leary) never get one serious business question answered during the entire pitch. Lori Greiner and Daymond John that typically shy away from tech deals in the past decide they can "figure it out" and close a deal for the Scholly App with no negotiations whatsoever.
This has Kevin O'Leary asking "What is this the Charity Tank?" No kidding. Nothing about this pitch makes any financial sense with very little information to accurately evaluate as a serious Shark Tank Investment.
I almost feel a little sorry for Christopher Grey for not sticking to his original plan and fielding offers from all the Sharks before accepting the only offer on the table. But it's his business, and if he thinks the QVC Queen and the Clothing Brand Expert are the best partners to grow a tech business, then maybe it was the correct decision. Normally both Greiner and John partner with one of the tech expert's on a deal such as this, but for whatever the reason, not even a single "Qualified Shark" was given a chance. Now why would two very successful and normally disciplined Shark Tank Investors throw money into a business they know very little about what they're investing in?
After watching this "performance" multiple times I'm not sure what to think, but it does have me questioning "Was this a Shark Tank Fight or a Shark Tank Fake"? Deals like this have never happened on the Shark Tank Show and certainly not in the Real World. I understand the ratings, but I sure hope the producers realize Shark Tank Fans watch this Show first to learn and being entertained with theatrics is a far distant second. Lori, you deserve an Oscar! :-)
So what do you think? Was this a Real Shark Tank Fight?