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Guest Shark, Kendra Scott, joined fellow investors Barbara Corcoran, Mark Cuban, Kevin O’Leary, and Lori Greiner in the Shark Tank to review business proposals from four businesses hoping to land a strategic partnership deal with the Sharks. Three of the featured businesses were able to secure investment deals in the Shark Tank and left with new business partners. Read on to learn more.

Kendra Scott Partners With OpulenceMD Beauty

Eye surgeon, Anika Goodwin Hilderbrand, has created a product that helps professional women exude confidence without having to put harmful chemicals near their eyes. OpulenceMD Beauty has reimagined the artificial eyelash market. Rather than fussing with glues and adhesives, Anika has improved upon the magnetic eyelash market, making lightweight and natural eyelashes from the natural shed of mink tails. Because of the rapid growth of the company, Anika is looking for a Shark willing to invest $75,000 in exchange for 5% equity of OpulenceMD Beauty.

Although they were impressed with the product, the Sharks were very shocked to hear about the sales that OpulenceMD Beauty has generated. Since February of 2020, Anika has seen explosive growth with her product and has sold $685,000 of magnetic, mink lashes. With margins ranging from 88-95%, a solid product, and a growing customer base, Kendra Scott was quick to invest in OpulenceMD Beauty. Because she has a lot of experience selling to Anika’s target market, Kendra feels that she would be a perfect partner. The pair agree to a $75,000 investment in exchange for 20% equity in OpulenceMD Beauty.

Cheese Chopper Strikes Out in the Shark Tank

Tate Koenig has designed and created a way to slice, shred and store your cheese with ease. The patent-pending Cheese Chopper, features a built-in storage container that has interchangeable handles that can slice, shred or chop cheese. The adjustment wheel allows consumers to decide their own slice thickness. After receiving orders for $125,000 worth of product on Kickstarter, Tate is looking for a Shark that is willing to help him get his company off the ground and invest$75,000 in exchange for 10% equity.

Although the Sharks think that the product is very clever, they are concerned that Tate doesn’t have true sales and customer feedback under his belt before coming to the Shark Tank. Kendra suggests that they take their time perfecting the product and ensuring they get it right before launching to customers. If the product isn’t a high-quality, functional product when you ship to customers, you will lose the chance of repeat sales. Because the Sharks don’t feel that the product is quite ready and there is a lot of work still to be done, they decline to extend Cheese Chopper an offer.

The Matte Gets An Offer From Lori Greiner

Massachusetts native, Melissa Clayton came to the Shark Tank to promote her product, The Matte. This compact product unfolds to layover bathroom sinks to provide additional temporary counter space when getting ready. Melissa is hoping to partner with a Shark that is willing to invest $100,000 in exchange for 20% equity and who will help her to launch a marketing campaign around her product. Although she has sold $20,000 in the last month, all of her current marketing is through word of mouth or organic growth.

Since there is nothing like The Matte on the market, and knowing that Melissa carries a patent on the product, Kendra and Lori are both interested in the product as they can see the need for it in the market. The other Sharks, however, don’t see much value in the product. Lori decided to extend an offer to Melissa but would like a larger equity percentage because of the amount of work that she will need to put into it. The pair agree to a $100,000 investment in exchange for 33.3% equity in The Matte.

Lori Greiner Invests in Furzapper

Business partners, Harry Levin and Michael Sweigart, have designed and patented a product to help pet owners remove dander and pet hair from their clothes. The Furzapper is a silicon product that is placed in the washer and dryer when doing laundry. It directs a bulk of the hair and dander down the drain in the washer and what is left over is diverted to the lint trap in the dryer. While the company is having tremendous success with their product, they are looking for a Shark who can help them bring their manufacturing in-house and is willing to invest $600,000 in exchange for 10% equity to make that happen.

The Sharks were very impressed to hear that Furzapper was on track to close the year at $5,000,000 in sales. With low customer acquisition costs, incredible sales, and a vast retail distribution network, many of the Sharks were eager to partner with Furzapper. Kevin O’Leary, Mark Cuban, Lori Greiner, and Barbara Corcoran all extended offers to Harry and Michael. As the Sharks all competed over who could offer the sweetest deal to Furzapper, Lori Greiner really sold them on being the perfect Shark for them. They accepted her investment offer of $600,000 in exchange for 15% equity, with additional lines of credit available if needed.

If you were a Shark, which of these businesses would you have invested in? Do you think that any of the Sharks made a poor investment decision with any of these businesses? Would you have invested in the Cheese Chopper? Start the conversation in the comments below!