Next up is Julia Cheek of EverlyWell, seeking $1 million for five percent equity.
EverlyWell is a home health kit that makes testing simple and affordable. According to their website, users simply purchase a kit, collect a sample and return it to “one of the nation’s leading laboratories” for results, which become available online after a physician reviews them. Test options, which start at $59, include tests for metabolism, food sensitivity, hormonal imbalances, vitamin D, fertility and more. Tests are currently available in 46 states and the results are available within five business days.
In less than a year, they have done $2.5 million in sales and are projected to do at least $5 million this year. They are currently losing money given that they are testing numerous features and new tests. Working with traditional diagnostics or new genomic testing services could be options in the future.
Mark Cuban worries about competition and goes out, followed by Barbara Corcoran and Robert Herjavec. Guest shark Rohan Oza likes the presentation and idea behind the company, but thinks it’s too expensive. He goes out. Lori Greiner appreciates the concept and offers $1 million as a line of credit at eight percent interest for a five percent equity stake. She accepts.
Social Media Reacts to EverlyWell’s Appearance on “Shark Tank”
EverlyWell wow very impressed with her projections #SharkTank
— Lance Becvar (@Dadsonpowermode) November 27, 2017
As someone who gets bloodwork done frequently, I wouldn’t use @everly_well #SharkTank
— Sarah Wynn (@sarahewynn) November 27, 2017
I do worry about the college students picking themsleves. Maybe sell it to the school and have it available to be administered by the nurse. #EverlyWell #SharkTank
— Novafan23 (@Novafan23) November 27, 2017
Does anyone else feel #EverlyWell is just another outlet for hypochondriacs to claim/worry something is wrong with them? #SharkTank
— Amy Naas (@AmyNaas) November 27, 2017
Great presentation. Massive risk. #EverlyWell #sharktank
— ♀️Mom The Builder (@reallifecamille) November 27, 2017
Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging businesses to multi-millionaire and billionaire investors, known as sharks: Mark Cuban, owner of the Dallas Mavericks; Daymond John, fashion mogul and founder of FUBU; Kevin O’Leary, self-proclaimed Mr. Wonderful and founder of O’Leary Financial Group; Barbara Corcoran, real estate maven; Lori Greiner, queen of QVC; and Robert Herjavec, technology guru and founder/CEO of the Herjavec Group.
Philanthropist and Virgin Group founder Richard Branson, Spanx founder Sara Blakely, Skinnygirl Cocktails founder and Real Housewife Bethenny Frankel, Vitamin Water founder Rohan Oza and former MLB player Alex “A-Rod” Rodriguez are also slated to appear as guest sharks this season.
“Shark Tank,” which is based on “Dragons’ Den,” is produced by Mark Burnett and first debuted in 2009. To date, the sharks have invested more than $100 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Sunday at 9 p.m. on ABC.
Would you try out EverlyWell? Sound off in the comments section below!
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