Not solely did Akeem enter “Shark Tank” carrying a makeshift astronaut swimsuit, signifying his product’s origins, however he additionally introduced Flipstik to the Sharks with a rap. What caught the Sharks’ consideration was the product demo. Akeem used three of the dirtiest home items (hair, sand, and spaghetti) to soiled up his product and show it nonetheless labored as marketed. However, the sharks weren’t eager on his provide after listening to the gross sales numbers.
The Flipstik entrepreneur initially requested for $100,000 for a 20% stake in his enterprise. While the Sharks had been impressed by his revenue margins, manufacturing every unit for under 58 cents and promoting the product for $15, they had been much less impressed by him, who solely introduced in $115,000 after 30 months of gross sales. It did not encourage quite a lot of confidence. Akeem made some extent to tell them that 60% of his enterprise was brick-and-mortar retail. During the Covid-19 pandemic, that was troublesome for anybody.
Kevin O’Leary was greater than and wished to make a deal rapidly. He waved off Lori Greiner’s questions, as he wasn’t focused on any form of bidding struggle, and supplied the younger entrepreneur precisely what he initially requested. After Akeem entertained Lori’s questions, Kevin backed out of the deal. She supplied him $100,000 for a 25% stake within the enterprise. While Mark Cuban confirmed curiosity in making a deal, Akeem accepted Lori’s provide, believing she was the best companion due to her expertise.
