Last into the tank is Rick Pescovitz of Under the Weather, seeking $600,000 for 10 percent equity.

Key Takeaways:

  • Product: MyPod, a portable, weather-resistant personal tent for outdoor events.
  • Investment Ask: $600,000 for 10% equity.
  • Shark Response: Mark Cuban invested $600,000 for 15% equity with an option to buy an additional 10%.
  • Post-Show Success: Under the Weather has expanded its product range and continues to see growth in sales, particularly with sports enthusiasts and outdoor event-goers.

What is Under the Weather Exactly?

Under the Weather offers an escape from the cold.

Their MyPod helps family and friends “connect” in brand new ways. The pod design, which comes in 10 colors, features steel wire, is water and wind resistant and allows for side-by-side seating. According to their website, they hoped to create “a fully enclosed tent in which a soccer chair could fit comfortably.” Additionally, “It needed great visibility and had to be portable and lightweight enough to carry from game to game. It also needed to be easy enough to put up and take down on the fly.”

That’s when the Pod Squad was born.

Robert Herjavec admits that it looks ridiculous but can see that it works. Lori Greiner says it’s a bit difficult to see out of the plastic. Herjavec jokes that it looks like Greiner and Daymond John were in jail. In the last year, they have done $2 million in sales.

Daymond John quickly jumps in and offers $600,000 for 20 percent. Kevin O’Leary matches John’s offer, causing Herjavec to go out because he doesn’t believe he needs an investment. Mark Cuban then offers $600,000 for 15 percent with an option to buy another $600,000 for 10 percent that is open for 12 months.

Ultimately, he accepts Cuban’s offer.

Social Media Reacts to Under the Weather’s Appearance on “Shark Tank”

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;
  • 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 Under the Weather? Sound off in the comments section below!