The final entrepreneurs to enter the tank are father-son duo Jeff and Jack Danos of Tactibite Fish Call, seeking $150,000 for 10 percent equity.

Key Takeaways:

  • Product: Tactibite Fish Call uses sounds and vibrations to attract various fish species in both freshwater and saltwater.
  • Sales: $330,000 in online sales over five months.
  • Investment Goal: $150,000 for 10% equity to enter retail and expand.
  • Offers: Kevin O’Leary and Daymond John offer $150,000 for 20%. Lori Greiner offers $150,000 for 15%.
  • Final Deal: Accepted Robert Herjavec’s offer of $150,000 for 10% equity.

Tactibite Fish Call Shark Tank Update

Tactibite Fish Call offers a new high-tech way to catch fish. According to their website, the device “sends out sounds and vibrations that attract game fish! Fish are naturally curious (and always hungry!) and head towards those sounds and vibrations in search of their next meal!”

The device works on a variety of fish and, according to their tests, includes largemouth bass, brown trout, flounder, mackerel and black tip shark. It works in both freshwater and saltwater, and its success by fish is dependent on the sound and volume level used.

Working to attract the sharks, they explain how the various sounds attract different fish. They have sold $330,000 worth online in five months.

The “fish master” Daymond John asks how it compares to a popper and wonders why they want a shark. They hope to get into retail and use their expertise in order to help the product “explode.”

Kevin O’Leary takes the first bite, making an offer at $150,000 for 20 percent, while John makes the next, matching O’Leary. O’Leary touts himself with his “Mr. Wonderful” name plate, while Mark Cuban goes out. Lori Greiner sees the draw as advertising it in infomercials and offers $150,000 for 15 percent equity.

They counter Greiner at $200,000 for 15 percent, which she declines.

Robert Herjavec believes their valuation was correct and offers what they came in asking for. Greiner then offers their original ask as well. John holds steady at his offer and questions the other sharks’ fishing expertise.

They counter a partnership, which again, Greiner declines. They ultimately accept Herjavec’s offer for $150,000 for 10 percent.

Wrapping Up

Each week on “Shark Tank,” budding entrepreneurs have the opportunity to pitch their emerging business to six 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. Venture capitalist Chris Sacca is also slated to appear as a guest shark 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 $87 million in various companies after engaging in numerous bidding wars and shark fights. A new episode airs each Friday at 9 p.m. on ABC.

Would you use the Tactibite Fish Call? Sound off in the comments section below!

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