Next up is California-native Glacé Cryotherapy seeking $100,000 for 15 percent equity.
Key Highlights: Glacé Cryotherapy on Shark Tank
- Product Concept: Ice therapy circulating dry air to manage pain.
- Investment Sought: $100,000 for 15% equity.
- Shark Concerns: High cost and replicability.
- Final Deal: Barbara Corcoran offers $100,000 for 30% equity.
- Business Model: Single sessions at $65 and membership options.
Glacé Cryotherapy: Company Overview
Glacé Cryotherapy is a type of ice therapy that circulates dry air around the body, therefore, managing pain. Robert Herjavec is the first to try it and quickly freezes up.
Lori Greiner wonders how it doesn’t burn the skin, which comes with the time limit of three minutes. One machine costs $55,000. It costs $65 for a single session, but also offers a membership option.
Social reactions from Glacé Cryotherapy’s appearance on Shark Tank:
"We have the best practice"… Prove it #SharkTank
— Alan (@sweating_it_off) February 27, 2016
Looks thrilling! @robertherjavec RT if you would definitely try this! #SharkTank #glacecryotherapy @glacecryo pic.twitter.com/sUJcRkqItI
— Shark Tank (@ABCSharkTank) February 27, 2016
Is this a product that we really need tho? Lol #SharkTank #GlaceCryotherapy
— danielle✧renee (@DanielleRene_90) February 27, 2016
Kevin O’Leary goes out for it being copyable, and Mark Cuban quickly follows.
Herjavec wants them to open more stores than just one, which is what they projected. He goes out. Greiner doesn’t find it investable so goes out too.
Barbara Corcoran likes it for its ability to make money quickly, and offers $100,000 for 30 percent. They accept.
Final deal: Barbara Corcoran for $100,000 for 30 percent.
Would you try Glacé Cryotherapy?