ezpzfun.com

ezpzfun.com

Last into the tank is EZPZ seeking a $1 million investment for five percent equity.

Their product, “The Happy Mat,” aims to prevent mealtime disasters and keep a clean kitchen. The mat suctions to a table, making it almost impossible for children to make a mess. The mat also features a built-in plate in the shape of a smiley face, which enables for properly-portioned meals.

Admittedly, the founder says she wanted to ask for five times the valuation that she came in for, a shocking disclosure considering the sharks were initially doubtful of her initial valuation. The company made $1.2 million this year but still lacks a patent.

Kevin O’Leary doesn’t believe the company is worth her ask, causing the other sharks to question it as well. Her projection is derived from her extremely hopeful growth over the next five years. Frustrated that she has no data and is going simply off of guesses, Robert Herjavec goes out.

Social reactions from EZPZ’s appearance on “Shark Tank”:

Lori Greiner believes that she came in with too high of a valuation and has her doubts that she will obtain the patent so goes out as well. O’Leary is the first shark is make an offer, giving her exactly what she came in asking for, however he says the deal will change to 20 percent equity if her projected $10 million doesn’t come to fruition. In doing so, the risk is thrown entirely on her to “put your money where your mouth is.”

Her overly-optimistic outlook worries Barbara Corcoran but she too makes a deal, offering $1 million over four years at five percent equity. The deal is also contingent on getting the patent and hitting her projected sales targets.

Questioning O’Leary’s short-term goals while almost jeopardizing Corcoran’s offer, she decides to decline both offers–upsetting the sharks.

Corcoran advises her that some self-doubt would do her well in her mission to succeed, and ultimately, she still walks away without accepting either offer.

Final deal: None.

Would you try the EZPZ Happy Mat?