Shark Tank #202 New Idea for Toys and Vurtego a New Extreme Sport
Toygaroo Toys With Stay Power
First into the shark tank was Nikki Pope co owner and founder of Toygaroo, a toy rental company. Really when you think about it what a phenomenal idea. Consider from the time they start to play with toys at a few months old the interest and stay power moves so quickly. It seems like every time you turn around you're donating, or giving away a toy that's hardly been used, yet they've already grown out of it. You spend good money for new toys only to have them show more interest in the box sometimes Just watch the video and you'll get a really good idea of the entire concept. What's really funny about Nikki is she isn't even a mother yet, although she does have 13 nieces and nephews all under 8 years of age. She figured it would stop the clutter, save money, and keep the child consistently entertained because the toys can be switched out when they get bored o grow out of them.
The monthly fee starts at $35 and goes up to the 80 dollar mark, but at $35 that's $200 dollars worth of toys a month. Think about how much it would cost to buy all those toys and your definitely saving some money. OK there is one quirky thing about her and that is that she is attracted to Kevin and had her eye on him from the beginning, Sorry but that's almost scary.
She was looking for a $100,000 investment for 10% of the company and the sharks were ready to do battle for this one but not quite at the percentage she was looking for. Kevin jumped out first, offering $100,000 for 35%, but before she could even answer Robert prompted Mark to partner with him offering $200,000 for 40%. Then because of Kevins relationship with the toy companies and her attraction to him, she hesitated and before you knew it Robert was knocked out of the deal and Kevin and Mark partnered for the some deal Robert offered leaving him speechless.. Daymond who was already out, along with Barbara couldn't help but laugh while Daymond threw in a few extra digs..
For more information on the toys and cost just click on Toygaroo
Wake N Bacon
Next jumping into the tank was Matty Sallin founder and inventor of Wake N Bacon, an alarm clock that wakes you up to the smell of bacon cooking in the morning. Get this you can actually open the drawer, pull out the bacon and eat it. Daymonds first response was "Shut Up" because as he went on to state later, he loves bacon.
Kevin's first thought is what happens when it catches fire and burns the couple to death in bed, (I'm telling you the devil in disguise) and was not only out for that reason, but because he had no projection which really all the sharks the wrong way. The funny part is Kevin and Robert wanted to buy the pig box/alarm clock.
Mark was the only shark left interested and solely as a novelty gag gift but when he learned that the first production would run $130,000 and Matty was only asking for 40 he to was out. Kevin was persistent at trying to buy the box offering hundreds of dollars but Matty wouldn't sell it due to it was the only one he had.
Vurtego Taking Pogo Sicks to a Totally Different Level
Next in the tank was Brian Spencer co-owner and chief test pilot for the Vurtigo Pogo Sticks. The entrance alone left the sharks and everyone else watching speechless. It was amazing and if you watch nothing else check it out on Hulu. Brian was seeking a $500,000 investment for 20% of the company wanting to go mass market. They had already sold 7000 at $330 each but wanted to target a market to where they could expand and lower the price.
Surprisingly the sharks were pretty much all in agreement stating that they didn't need the sharks because then they would lose the uniqueness and coolness they already had. Barbara being a mom herself wanted no part of it stating she was surprised someone hadn't gotten killed on one. I must say that he didn't seem very disappointed when the sharks didn't invest I think because he understood how going mass market could do him more harm than good..
Just watch the video and you will see not only how this stick is definitely an attention getter but will give you a work out like you never dreamed possible while having so much fun, or if you would like more info just click on Vurtego
First Defense Nasal Screens
Joe Moore who was last but definitely not the least to find his way in the tank had the sharks talking millions even though he was only asking for $500,000 for 10%. Why all the fuss? It was actually quite funny to watch as all the sharks were kind of turned off by the way it looked even though it was clinically proven to remove 99 % of the allergens and pollutants from the air you breath. Kevin literally thought the guy sounded like a Bozo especially when he stated he hadn't gone to market yet. Mark literally asked, "Are you kidding me?"
Then all the heads turned as he stated that he had a contract to do 8 million over the next 6 years which he readily handed over to Robert to examine. All of the sudden Kevin says he doesn't sound like the Bozo he thought he was and Robert says those things don't look as funny stuck to your nose. Then it was 800,000 plus a royalty, 2 million for the whole company, then 3, then 4 million dollars and hold on he turned it down. WOW that was a shocker considering he was not a young man and that money probably would have let he and his family live a very happy life, but he wanted to be part of the company,
What sealed the deal was Kevin, Mark, and Daymond went in together offering $750,000 for 30% of the company and a 10% perpetual royalty until they recouped their money. Oh yeah there was one big cliff hanger and believe it or not it was season tickets from Mark. That's right turned down 4 million but got his season tickets. In reality he'll probably make more owning 70% of the company but how long will it take to make that 4 million and will he be around to enjoy it, he is already a cancer survivor.
What would you have done?.
If you'd like to watch the full episode you can either go to Hulu or ABC.
Have an incredible day!